IndusInd Bank to open 30 new branches

Mumbai, Nov 18 (UNI) IndusInd Bank today announced that it will be opening 30 new branches, 50 new offsite ATMs and 6 mobile ATMs in next few months, as per the authorizations recently received by them, from Reserve Bank India.

At present, the Bank has a network of 180 branches and 354 ATMs spread over 147 geographical locations in 28 states and union territories across the country. With these new authorizations, the network of the Bank is likely to touch 210 branches by the end of FY 2008-09. It is also for the first time that the Bank will be opening Mobile ATMs for greater reach and convenience of its customers.

Mr Romesh Sobti, Managing Director and Chief Executive Officer, IndusInd Bank, commented, ''We are pleased to get these authorizations at a time when the Bank has commenced showing consistent improvement under all areas of operations. These new branches when opened will enable the Bank to mobilize larger resources and give a boost to low cost current and saving components of the deposit portfolio. The Bank will also get significant benefit from the rise in the fee based income from these new branches.'' UNI AR SR NP1923