Bandhan Bank has decided to build a corporate office in Mumbai while setting up a zonal office-cum-government business centre in New Delhi while it plans to expand beyond the eastern region where it is dominant.
The private sector lender has spent about Rs 160 crore to buy a commercial space in the country's financial capital to build the corporate centre which will also house its treasury,. The centre is being built on a 40,000 sq ft area in Mumbai's Bandra Kurla Complex (BKC) and is likely to become ready in the fourth quarter of this fiscal.
The bank is also building a back-office in Navi Mumbai in a rented 65000 sq ft space, he said. Its New Delhi's zonal office will be important for liaison with government departments for doing government business.
Bandhan, which celebrated the completion of its eight years of banking journey on August 23, is also amid a branch expansion spree even as it is getting ready to expand its digital offering. Since January, it opened as many as 350 branches to take the tally to 1586 while plans are afoot to open another 150 by March next year. Bandhan plans to diversify both geographically and portfolio wise, while remaining committed to inclusive banking. About 56% of its presence is in the east and northeast.
