Kotak Mahindra Bank to expand footprint in UP

Private bank Kotak Mahindra Bank is keen on expanding its footprint in Uttar Pradesh.

The bank, which has 13 operational branches in the state, will take up the tally to 16 in the next few months. The bank opened its second branch in Lucknow recently.

“We have presence in all the primary cities of the state and will now expand to other Tier II and III cities like Gorakhpur,” Kotak Mahindra Bank Group Head (Retail liabilities and branch banking) K V S Manian said at a conference call here recently.

“Pan-India, we are aiming a total branch network of 326 by the end of March 2011 from the current 245 at 141 locations,” he informed.

 

Manian said the bank wanted to proactively reach out to all segments of customers and strengthen its retail banking portfolio.

“We have already made a mark in the investment and personalised banking space and now want to expand our general customer base,” he said.

The bank would continue to follow the “multi channel” strategy for providing all the banking services viz online, home, phone and branch banking.

Besides, Kotak is looking “aggressively” at expanding its off-site ATM network, since the “profitability dynamics of ATMs has now changed due to the sharing of such infrastructure.”

“By the end of 2010-11 financial year, we are targetting total off-site ATM network of 500, especially in the top eight cities of the country,” he added.