Financial Daily from THE HINDU group of publications
Tuesday, Mar 08, 2005
Financial Daily from THE HINDU group of publications Tuesday, Mar 08, 2005 |
|
|
|
|
|
Money & Banking
-
Private Banks IndusInd Bank to double branches by next year Our Bureau
Mr Suresh Pai, Executive Vice-President, IndusInd Bank, with Mr Verghese Thambi, Senior Vice-President (Retail), at the launch of `International Mahila Card' in Bangalore on Monday. — G.R.N. Somashekar
Bangalore , March 7 INDUSIND Bank expects to double its network by the end of next year. The bank plans to have 130 branches by month-end. Addressing a press conference here on Monday, Mr Suresh Pai, Executive Vice-President of IndusInd Bank, said that the reach of the bank was partly on account of the merger of Ashok Leyland Finance with it. The merger, he said, had helped the bank's liability management. This was achieved through the reduction in the cost of liabilities, including deposits, by at least two per cent, he said. The merger had also allowed IndusInd Bank to improve its return on assets and priority sector asset base. The bank would look to mergers in future as well to become a global sized bank. This would include non-banking finance companies as well, he added. IndusInd Bank launched its International Mahila Card. This card is specifically aimed at women, and offered a credit limit of Rs 25,000 with 100 per cent cash withdrawal facility without additional charges through banks, ATMs across the country. Charges on the Mahila Cards would be a nominal 14 per cent, Mr Pai said. The bank had already tied up with some shopping outlets, he said, adding that it has targeted one lakh customers for its Mahila card in a year. The bank hopes to increase its customer base to one million by 2006, through such specialised products, he said. At present, the bank has a customer base of 8 lakh in the country.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|