Cosmos to open 25 new branches by March 2012

As part of its expansion plans, The Cosmos Co-operative Bank Ltd (CCBL) is planning to open 25 new branches at select locations by March 2012.

The bank has set a target of Rs 25,000 crores business for the current FY 2011-12. Presently, the bank has 119 branches in five states- 85 branches in Maharashtra, 25 in Gujarat, 3 in Karnataka, 4 in Andhra Pradesh and 1 in Madhya Pradesh.

"We are planning to open 25 new branches by March 2012 at select locations, including 10 branches in Mumbai, 4 in Pune and one each in Ichalkaranji, Aurangabad, Ahmednagar, Goa, Chennai and Jaipur," said a senior bank official.

 

The bank registered a business turn over of Rs 15,521 crores in FY 2010-11 and eyeing Rs 25,000 crores business turn over in the current FY 2011-12.

By March 2011, the bank had deposits of Rs 9,137 crores and advances of Rs 6,384 crores.