Bharatiya Mahila Bank targets Rs 1,800 cr biz this fiscal

Bharatiya Mahila Bank (BMB), incorporated under the Companies Act last fiscal to extend banking services especially to women, is targeting at a business of Rs 1,800 crore this fiscal.

"This financial year will be the first full year of operations. This fiscal we are targetting at a deposit base of Rs 1,000 crore and advances of Rs 800 crore", bank's CMD Usha Ananthasubramanian said.

She said in the four-and-half months of operation in the last fiscal, the bank's business was Rs 175 crore.

Fully-owned by the government with a seed capital of Rs 1,000 crore, the bank had set up 23 branches across the country, she told reporters here last evening.

This fiscal, BMB would add 57 more branches across the country, she said.

To a query, she said that there was no immediate need to raise capital to support business needs.

"Listing will take time. The bank is not like other public sector banks which are under the Bank Nationalisation Act", she said.

The bank plans to provide loans to women at concessional rates.

EDITORIAL OF THE DAY

  • Public sector banks need to be independent of govt ownership

    The RBI, in its financial stability report released last week, has flagged off concerns about the deteriorating asset quality of public sector banks.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Kumar Jain

A complex challenge for our PSUs

Till the mid-1990s, the central government and its companies were ...

Rajgopal Nidamboor

Up the ante of your conscious existence

It sounds cryptic, but is not as complex as it ...

Dharmendra Khandal

The one in which a blue whale was washed ashore

Quite unexpectedly, a gigantic blue whale was washed ashore at ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture