Indian private sector lender RBL Bank plans to expand its branch network in the country to strengthen its customer base and leverage opportunities.
In an interaction with The Hindu Business Line, RBL Bank Branch Banking head Surinder Chawla said that it the lender will pursue an aggressive branch expansion programme for the next few years.
The plan aims to open at least 75 branches annually for the next few years.
According to the bank website, RBL Bank operates 403 branches, 1,344 business correspondent branches (of which 259 banking outlets) and 412 ATMs across 28 states and union territories.
By the end of this fiscal, it is expected to have 425 branch offices.
Chawla told the publication: “As a bank, we are very small right now in terms of our network, which is not even present in some capital cities of the country. So, we have a bit of a catch-up to do.”
He added that bolstering branch footprint will provide the bank with new customers and open cross sell opportunities.
Additionally, the bank has invested heavily in digital technologies following the Covid-19 pandemic.
RBL Bank offers specialised services under six business verticals- Corporate & Institutional Banking, Commercial Banking, Branch & Business Banking, Retail Assets and Treasury and Financial Markets Operations.
Currently, it has around 9.08 million customers.
Last year, RBL Bank partnered with Visa to introduce instant payouts for fintech firms.