(MENAFN- KNN India) Bandhan Bank will open 14 branches in the five southern states - Karnataka, Kerala, Tamil Nadu, Andhra Pradesh and Telangana. The retail focus of the bank will be on micro, small and medium enterprises (MSMEs) and the commercial vehicles segment, said Managing Director and CEO of Bandhan Bank, Chandra Shekhar Ghosh.
The new branches will be operational from August 23 the same day the bank commences its nationwide operations. The bank will start with a Rs 11,000-crore book, capital of Rs 3,200 crore, 500-600 branches and 250 ATMS across India.
Ghosh said south India has been an uncharted territory for Bandhan's microfinance business, where the bank sees great potential to offer financial services to all sections of society.
The bank is expecting to increase the number of branches to about 100 in South India over the next two-three years, he added.
President Pranab Mukherjee will launch the bank in Kolkata on August 23.
The International Finance Corporation, Singapore government-backed GIC and state-run Small Industries Development Bank of India (SIDBI) have invested a total of Rs 1,020 crore in Bandhan Bank.
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