Bandhan Bank Opens 700th Branch

• Bandhan Bank opens eight new branches on August 08, 2016

• Renowned Actor-Producer Prosenjit Chatterjee inaugurates Bandhan Bank's 700^th branch on Ballygunge Circular Road in Kolkata

Bandhan Bank today, opened eight new bank branches taking its total branch network to 700 in the country. Out of these eight newly opened branches, seven are in West Bengal and one in Uttar Pradesh. The 700^th branch which is located on Ballygunge Circular Road, Kolkata was inaugurated by the renowned Actor–Producer, Mr. Prosenjit Chatterjee.

On the occasion Chandra Shekhar Ghosh, Founder, MD & CEO, Bandhan Bank, said "For Bandhan Bank, the 700th branch is an important milestone. This branch has a special bay to cater to the affluent segment. Besides, there is e-lobby for those who look for self service. We are happy to have 700 branches in less than one year. We would like to maintain the momentum by increasing our footprint nationally to serve many more millions of customers."

While inaugurating the 700^th branch, the Actor-Producer Prosenjit Chatterjee said, "Kolkata has a legacy of giving the country some of the most successful banks. I am happy to be associated with the youngest bank in the country that has its roots in Kolkata, with a vision to have a national footprint. In less than a year the bank has grown its branch network to 700 branches and is providing financial services to various customers and am honored to be inaugurating the 700th branch of Bandhan Bank."

Bandhan Bank now operates across 29 Indian states and Union Territories through 3,082 touch points consisting of 700 bank branches, 2,142 Doorstep Service Centres (DSCs) and 240 ATMs catering to 8.9 million customers. Since its launch, the bank has mobilized close to Rs. 15,000 crore deposits; its outstanding loan book is worth Rs. 16,000 crore. Bandhan Bank is served by a dedicated team of 21,200 employees.

The Kolkata-headquartered bank has two divisions -- micro banking and general banking, offering a suite of retail financial solutions, including a variety of savings and loan products. Currently, the savings bank account interest rate is 6% for balance above Rs.1 lakh and 4.25% for balance up to Rs.1 lakh. For term deposits, the maximum interest rate offered is 8.25 % for one to three years, with an additional 0.5% for senior citizens.

Bandhan Bank commenced its operations on August 23, 2015, with 501 branches, 2,022 DSCs and 50 ATMs across 24 Indian states. The bank was inaugurated by Shri. Arun Jaitley, Hon'ble Minister of Finance, Corporate Affairs and Information and Broadcasting, Government of India, in Kolkata at a grand function attended by regulators, policy makers and luminaries from financial sector and corporate India. Bandhan is the first bank to be set up in eastern part of India post-Independence.

About Bandhan Bank Ltd.

Bandhan received the 'in-principle' approval from the Reserve Bank of India in April 2014 and the banking regulator's final nod came on June 17, 2015. Its public shareholders include, among others, International Finance Corporation (IFC), Small Industries Development Bank of India (SIDBI), and an arm of GIC, the sovereign wealth fund of Singapore.

Bandhan made a humble beginning in 2001 as a not-for-profit microfinance enterprise with the idea of making a significant contribution towards alleviation of poverty by empowering women. It transformed itself into a non-banking finance company in 2006.

Bandhan Bank is driven by a constant desire to serve better. It seeks to offer its world-class banking products and services to urban, semi-urban and rural customers alike. While it has a pan India presence, the special focus remains on eastern and north-eastern part of India. It is a bank for all but the focus remains unchanged to meet the financial needs of people who are overlooked by the formal banking system and create better education, health care and self-employment opportunities.

In sync with the philosophy of 'Aapka Bhala, Sabki Bhalai' and keeping financial inclusion at the heart of it, Bandhan Bank is committed to provide a host of products and services, competitively on a par with India's top private and state-owned banks.

For more information, visit www.bandhanbank.com .