A recent press report said that ICICI Bank has planned to add about 1,500 branches over a period of four years against the existing strength of about 2,500. The bank’s network is expected to go up to 4,000 by 2015With the addition. Reports said that the branch expansion will help increase the bank’s presence as well as business, and also to mobilise cheap resources. Currently, the bank has a network of 2,533 branches and 6,301 ATMs in the country.
During 2010-11, ICICI Bank acquired Bank of Rajasthan which enhanced branch network and strengthened presence in northern and western India. The merger of Bank of Rajasthan added over 450 branches to the network. The branch network of the bank increased from 1,707 branches at March 31, 2010 to 2,529 branches at end of 2010-11.
Branches are the key points of customer acquisition and service. It is also centre for generating fee income by selling third party products, the official said.
The bank also reported an improvement on the asset quality front during the year, with the net non-performing assets ratio going down to 0.94 per cent from last year’s 1.87 per cent.
The bank being the second largest in the country offers home loan, personal loan, car loan etc.