Bandhan Bank to add 187 branches in FY20

Kolkata: Bandhan Bank would open 187 new branches by the end of the current financial year, taking the total number to 1,187, a top official said on Saturday.

The private lender would also open 340 doorstep service centres by 2019-20, MD and CEO Chandra Sekhar Ghosh said.

Speaking to reporters at the opening of the bank’s 1,000th branch here, Ghosh said its board has approved 200 new branches in the current fiscal, out of which 13 had already been opened.

Bandhan Bank has 3,014 doorstep service centres.

Regarding paring promoters’ stake to 40 per cent from 82 per cent as directed by the RBI, he said that post the merger of Gruh with the bank — awaiting NCLT approval — promoters’ holding will reduce to 61 per cent.

The bank had already made 100 per cent provisioning for its exposure in troubled IL&FS, amounting to Rs 385 crore.