Indian lender Kotak Mahindra is to open more than 100 new branches in the current fiscal year.

Kotak Mahindra currently operates a network of 1,391 branches.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

By the end of March 2019 Kotak Mahindra aims to operate a branch network of 1,500 outlets.

Branch expansion remains a key strategy for a number of Indian lenders.

For example, IndusInd Bank says that it is on target to grow to expand its network from 1,410 to 2,000 branches.

Meantime, Yes Bank aims to expand its network of 1,105 to 1,250 by 2020.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

By contrast, sector leader State Bank of India has been rationalising its massive branch network.

State Bank of India ended the first quarter of this fiscal with 22,428 branches, down from 24,017 in June 2017.

Punjab National Bank ranks second by branches with 6,993 ahead of Canara Bank with 6,071.

India’s central bank requires one semi-urban or rural branch to open whenever a branch is opened in an urban or metropolitan location.

INDIA: LARGEST BANKS BY BRANCHES

  • State Bank of India 22,408
  • Punjab National Bank 6,993
  • Canara Bank 6,071
  • Bank of Baroda 5,502
  • Bank of India 5,125
  • ICICI 4,850
  • HDFC 4,787
  • Central Bank of India 4,668
  • Union Bank 4,301
  • Syndicate Bank 4,010
  • Axis Bank 3,703
  • Indian Overseas Bank 3,326
  • IDBI 1,899
  • IndusInd Bank 1,410
  • Kotak Mahindra 1,391
  • Yes Bank 1,105