The private sector Axis bank proposes to add 210 branches nationally this fiscal of which 52 would be in the southern states, a top bank official on Saturday said.
KOCHI: The private sector Axis bank proposes to add 210 branches nationally this fiscal of which 52 would be in the southern states, a top bank official on Saturday said.
The bank has at present 699 branches in the country, including 171 in the southern states. Plans are to add about 70 odd branches in the south of which 52 would come up this fiscal, C P Rangarajan, President and zonal head (South) Axis Bank, said here.
Rangarajan, who was in Kochi to open a new branch, said Kerala now has 18 branches and plans are to add another eight more by the end of this fiscal.
The Kerala branches account for a business of rs 2500 crore and it is expected to touch rs 5000 crore after new branches are opened, he said.
The bank has a network of 20 extension counters and 2871 ATMs across the country. Kerala has 72 ATMs and another 30 would be added this financial year.
Axis bank, which is the offical bankers of Andhra Pradesh and Karntaka governments for e-governance initiatives, is also holding talks with Kerala governemnt, he said.
The bank has a customer base of about 1.5 lakh in Kerala of which 30 per cent are NRIs. It is expected to increase its base to two lakh this year. Nationally the bank has 95 lakh customers.
Axis bank has disbursed about rs 450 crore agricultural loans in the state and is expecting to touch rs 1000 crore this fiscal. Its net NPA was .63 per cent.
It has presence in Singapore, Hong Kong, Shanghai and Dubai and has applied for licenses to start operations from UK, US and Canada, Rangarajan said.
The bank's market capitalisation as on June 30 this year was rs 21,550 crore, which makes it the fourth largest in terms of market capitalisation in India.
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