Financial Daily from THE HINDU group of publications
Thursday, Aug 19, 2004
Financial Daily from THE HINDU group of publications Thursday, Aug 19, 2004 |
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Money & Banking
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Private Banks Centurion Bank plans 2-3 branches a month Our Bureau
Mumbai , Aug. 18 CENTURION Bank is planning expansion by way of adding new branches in new locations. Speaking to presspersons here Mr Anil Jaggia, Chief Operating Officer (COO), Centurion Bank, said the bank will convert 14 marketing outlets to branches and add 2-3 branches per month subject to regulatory approval as part of their expansion plan. Mr Jaggia was speaking at a press conference to announce its tie-up with Bajaj Allianz Life Insurance Company to distribute the latter's bancassurance products through its branches in the country. Bancassurance products will be offered at 46 branches and 16 extension counters from October 1 in the first phase, said the Centurion Bank Managing Director, Mr Shailendra Bhandari. The distribution set-up would be expanded to 15 more branches and six extension counters in the second phase, he said. Mr Bhandari also added that the bank plans to tie up with a leading equity broking firm to provide direct equity services to customers The Bajaj Allianz Life Insurance Chief Executive, Mr Sam Ghosh, said the company would expand its network in the country by raising tally of branches to 200 from the current 160 by end of this fiscal.
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