Bandhan plans to tap MSME business in South India

Bank will begin with 14 branches in five southern states, when it is launched on Aug 23 by President Mukherjee

Bandhan Bank, the microfinance entity-turned-universal bank, plans to tap into micro, small and medium enterprises (MSMEs) for growing its business in south India, where it will open 100 branches in two years.

The bank will begin with 14 branches in the five southern states, when it is launched on August 23, by President Pranab Mukherjee.  Bandan, the largest microfinance institution with a market share of 25 per cent, currently doesn’t have a presence in south India.

“Micro and small enterprises are not getting access to credit by the existing banks,”said Chandra Shekhar Ghosh, managing director and chief executive officer of Bandan Bank. “We will implement our learning from microfinance to offer better service to these customers”.