IndusInd Bank has planned to add 400 branches in 3 years

By Pradeep Yuvaraj | May 26, 2011

A recent press report said that IndusInd Bank has planned to open at least 400 new branches over the next three years as part of its branch network expansion strategy.

Mr. Romesh Sobti, Managing Director and Chief Executive Officer, of the bank said that the bank has almost 310 branches and it is expected to go up to 425 by end March 2012 and about 700 by end-March 2014.

He made it clear that the bank was looking to grow only organically for now. He said that the bank was wedded to organic growth and that their growth drivers are clear and already defined. A lot of it will come from branch distribution and, hence, the bank has planned to focus on expanding it.

He added saying that the bank was looking at over 25 per cent credit growth this financial year and the bank was not in any manner affected by any economic slowdown.

The bank had recently signed a memorandum of understanding (MoU) with leading home-loans lender HDFC to sell the latter’s home loans for purchase, construction, extension and renovation of residences by individuals. It also offers personal loan, home loan, car loan, persona loan etc.

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.
Category: Articles Glossary Tags: , ,

About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

Leave a Reply

Your email address will not be published.