 "In this file photo, Bandhan Bank CMD C S Ghosh unveiling the new logo in Kolkata (Photo: Subrata Majumder)")
The new-age Bandhan Bank today launched its 608th branch in Lucknow.
It was inaugurated by Uttar Pradesh Cooperative Bank Limited, MD Ravikant Singh and Small Industries Development Bank of India (SIDBI) CGM S Ramakrishnan.
Bandhan Bank had commenced operations on August 23, 2015 with 501 branches, 2,022 Door step Service Centres (DSCs) and 50 ATMs across 24 states. It was then inaugurated by Union Finance Minister Arun Jaitley in Kolkata.
Currently, Bandhan Bank operates across 27 states through a network of over 595 branches and 183 ATMs.
Since its launch, the Bank has collected deposits of Rs 4,700 crore catering to over 8 million customers.
Bandhan Bank is the first instance in India of a microfinance entity transforming into a commercial Bank. Its public shareholders include International Finance Corporation (IFC), SIDBI and an arm of GIC - the sovereign wealth fund of Singapore.
It made a humble beginning in 2001 as a not-for-profit micro-finance enterprise and transformed into a non-banking finance company in 2006.
