TJSB Sahakari Bank to open 18 new branches in FY17

TJSB Sahakari Bank will open 18 more branches this fiscal taking the total number of its network to 133 in the country.

It (the bank) has got permission from the Reserve Bank to open new branches, and hence, the Board has also taken the decision to extend services in Madhya Pradesh, TJSB Sahakari Bank's Chairman, C Nandagopal Menon said told reporters here yesterday.

A total of 115 branches are in operation currently in Maharashtra, Goa, Gujarat and Karnataka, and the number will reach 133 by 2016-17 end, he said.

TJSB was the only bank in the co-operative sector to find a place in the just announced Unified Payment Interface, he added.

During financial year 2015-16, the bank had a business mix of Rs 12,878 crore, while earned a net profit of Rs 100 crore for the sixth consecutive year, Menon said.

Bank's CEO Sunil Sathe said deposits of the bank stood at Rs 8,122 crore, loans at Rs 4,756 crore and forex services were also doing very well.