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Monday, December 1, 2014

Bhartiya Mahila Bank eyeing Rs. 1,000-cr deposit base by March-end

Bhartiya Mahila Bank (BMB), the country’s first all-women bank, today said that it is targeting a deposit base of Rs. 1,000 crore and advances of Rs. 800 crore by March-end this fiscal.

At present, the bank’s deposit base stands at over Rs. 300 crore and loans at Rs. 500 crore.

“As of today, our total business is at Rs. 825 crore. For this year, we are aiming advances of Rs. 800 crore and deposits at Rs. 1,000 crore,” BMB Chairman & Managing Director Usha Ananthasubramanian told reporters today after inaugurating its 35th branch here.

The branch, which was opened in Ghatkopar, Mumbai, is the third in Maharashtra. The bank would shortly open branches in Nagpur, Pune and Haridwar.

BMB is looking to increase its branch network to 80 by March 2015, which will also include 20 rural branches.

Ananthasubramanian said the bank’s focus would be on opening branches in tier II and tier III cities.

“We are also planning to roll out 50 offsite ATMs across the country by the end of this year,” she said.

The country’s first all-women bank was launched in November last year and is wholly owned by the government which had initially infused Rs. 1,000 crore in it.

Ananthasubramanian said the bank does not plan to raise any fund as the capital which it received from the government is sufficient to take care of its business currently.

Total employee strength of the bank is 300 and it will add another 120 by the end of this fiscal. It has one lakh customers, out of which 81 per cent are women.

Source : Thehindubusinessline


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