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Bandhan Bank adds 125 new outlets, share price gains 4%

The bank now has a presence in 34 of the 36 states and union territories in India, it has said.

March 11, 2020 / 01:04 PM IST
 
 
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Bandhan Bank share price gained 3.9 percent intraday on March 11 after the private sector lender told the BSE that it had launched 125 new banking outlets.

"Bandhan Bank has opened 125 banking outlets across 15 states. The bank already had a strong network of 1,010 bank branches, which now stands at 1,013. With a network of 3,206 banking units and the 195 home loan service centres that are operating in the country now, the total number of banking outlets now stands at 4,414," it said in a BSE filing.

The bank has a presence in all but two of the 36 states and union territories in India, it added.

The outlets were opened days after the Reserve Bank of India lifted restrictions on the bank setting up new branches, the bank said.

Of the 125 new outlets, 42 branches were opened in Uttar Pradesh, 29 in Rajasthan, 12 in Madhya Pradesh, seven each in Andhra Pradesh and Telangana, six in Bihar, five in Chhattisgarh, four in Odisha, three in Tamil Nadu, two each in Uttarakhand, Karnataka, Maharashtra and Assam, while Delhi and West Bengal got one a piece.

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"We are happy that with the withdrawal of restriction on opening new branches, we will be able to expand business growth rapidly," MD & CEO Chandra Shekhar Ghosh said.

As on December 31, 2019, Bandhan Bank served 1.9 crore customers and had deposits worth Rs 54,908 crore and advances worth Rs 65,456 crore.

The stock was quoting at Rs 378.05, up Rs 3.70, or 0.99 percent, on the BSE at 1240 hours.
Moneycontrol News
first published: Mar 11, 2020 01:03 pm

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