Wednesday, July 22, 2015

#Bandhan Bank to open 14 branches in South India and focus on MSME sector

Bandhan Bank plans to open 14 branches in Southern India.It will start with a Rs 11,000-crore book, capital of Rs 3,200 crore, 500-600 branches and 250 ATMS across India. In due course we will ramp up operations in Southern India, said Chandra Shekhar Ghosh, Managing Director and Chief Executive Officer of Bandhan Bank in Bangalore today.

President Pranab Mukherjee, will launch the bank in Kolkata on August 23rd, on the same day it will commence its nationwide operations as well.
'Micro and small enterprises will be our focus area to extend credit facility,'added Mr.Ghosh.

International Finance Corporation, Singapore government-backed GIC and the state-run Small Industries Development Bank of India have invested in Bandhan Bank.

Bandhan has appointed 850 experienced banking professionals at senior and middle level positions to run its operations, in addition to 18,000 employees that the microfinance entity already has on its payroll. 'We have set up 8 training centers and appointed 62 trainers to train our workforce in general banking operations,' said Mr.Ghosh.

The Bank has appointed five specialized agencies - Deloitte Touche Tohmatsu India Pvt. Ltd. as consultant for the banking project; FIS as the information technology (IT) partner; Aon Hewitt to design the human resources and compensation policy for employees; Madison Media for the advertising campaign; and Ogilvy Mather to handle the brand-building exercise.