CSB Bank, a private sector bank in India, has unveiled plans to expand its branch network across the country.
According to local reports, the bank aims a branch expansion at the rate of 30% annually to improve outreach and cater to the MSME sector.
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In the fiscal year 2020-21, it opened 101 branches.
Currently, CSB Bank has 474 branches and 309 ATMs across 18 states and two union territories in the country.
CSB Bank retail head Narendra Dixit was quoted by Livemint as saying: “We are increasing our pan India distribution, which will complement our significant distribution strength in Kerala and South and help us in offering seamless services across the country to our valued customers.”
Separately, CSB Bank also plans to expand its products suite and focus on digital banking services in a bid to improve customer experience.
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By GlobalDataRecently, it developed a new application called CSB Wink to enable customers to open accounts remotely.
Dixit further told the publication: “We are leveraging that to build a strong agri and financial inclusion model in these markets.
“Also, in order to enhance our existing retail and franchise offerings, we have created digital on-boarding facilities, via CSB Wink that offers digital account opening, e-wallet facilities, online FD services, virtual debit cards and will aid in higher deposit centres to provide an evenly distributed footprint.”
In 2019, CSB Bank shares were listed on Indian stock exchanges following an IPO.
