ICICI Bank today announced that it has expanded its retail network in Maharashtra by adding 35 new branches this fiscal. This is part of the nationwide branch expansion initiative of the Bank. In FY’20, the Bank aims to open 450 new branches across the country, of which more than 385 have already been opened.
Of these new branches in the state, nine are in hitherto unbanked villages namely, Kolpa in Latur, Kumbhari in Sangli, Chatori in Nashik and Sakharoli in Ratnagiri among others. Other branches have been opened in locations like Mumbai, Thane, Pune, Nagpur and Raigarh among others.
The expansion in the state has resulted in the Bank now having a branch network of 757 branches and extension counters in Maharashtra along with 3007 ATMs. ICICI Bank now has a wide retail network of over 5260 branches across the country. The Bank’s branch footprint now covers locations across the country from Leh in Jammu & Kashmir to Nagercoil in Tamil Nadu, from Naliya in Gujarat to Aizawl in Mizoram. Nearly half of the branches are in rural and semi-urban areas to facilitate financial inclusion in the country.
Mr. Anup Bagchi, Executive Director, ICICI Bank, said “We believe that a wide branch network continues to be important for retail banking. It helps deepen the relationship with the customer by serving them a wide range of products and offerings. More importantly, the branches offer consultation and guidance to customers for all kinds of banking requirements including mortgages, business banking, other loans and investments. Our strategy is to set up branches wherever business activity emerges. In line with this strategy, we have expanded our branch network by setting up 35 branches across the state, from prominent cities to emerging locations and even villages which were unbanked until now. This is a part of our nationwide expansion of setting up around 450 branches this fiscal in fresh catchments and micro-markets where economic activity is present. Of these, we have already set up over 385 branches.
Most of the branches are operational from 9:30 am to 4:30 pm while some are open till 8 pm. The branches will offer a comprehensive range of retail products and offerings like accounts, deposits, loans like home, personal and auto along with a suite of banking solutions for businesses and NRI. Many offer locker facilities as well. Additionally, branches in semi-urban and rural areas will offer agri products, Jewel Loan, KCC and Self Help Group lending to cater to the requirements of customers in emerging locations.