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MD – ThePrint – PTIFeed

by universalverge

Kolkata, Aug 24 (PTI) Bandhan Financial institution will open 551 extra branches within the 2022-23 fiscal, as part of the lender’s focus to make its distribution stronger in different elements of India outdoors the jap area, MD & CEO Chandra Sekhar Ghosh stated.

With the newest addition, the Kolkata-headquartered financial institution’s department rely will exceed 6,000, he stated.

“India is a big nation and only one Bandhan Financial institution of the dimensions at which we’re proper now isn’t sufficient. So, we’ve got to scale up even additional and even sooner.

“Majority of those (new branches) might be outdoors of east India, the place we’re already very robust in penetration. Bolstering our distribution in different elements of the nation is a key focus for us,” Ghosh stated right here on the seventh anniversary celebrations of Bandhan Financial institution on Monday evening.

He stated the financial institution’s push for digital and tech transformation has been an awesome success, with 92 per cent of the overall transactions going down by way of the digital route.

Ghosh additionally stated Bandhan Financial institution will proceed to develop its product portfolio, having not too long ago added mutual funds to the lender’s checklist of choices.

“Right this moment, we launched one other product, particularly for the youthful audiences,” he stated.

Ghosh stated the lender has moved on from the times its total advance e book was simply microcredit.

Right this moment, the share of microcredit has come all the way down to 44 per cent, whereas the remaining 56 per cent consists of non-microfinance loans, he stated.

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“We now have about three lakh dwelling mortgage clients; our dwelling mortgage portfolio is rising at a tempo of almost 20 per cent year-on-year. The financial institution can also be well-placed to disburse over 8,000 two-wheeler loans per thirty days throughout this fiscal from 3,000 earlier,” he added. PTI RBT RMS RMS

This report is auto-generated from PTI information service. ThePrint holds no duty for its content material.

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