IndusInd Bank Opens New Branch in Nagpur

IndusInd Bank inaugurated its 15th branch in Nagpur located at Gandhi Putla, the company announced today through an exchange filing.

IndusInd Bank inaugurated its 15th branch in Nagpur located at Gandhi Putla, the company announced today through an exchange filing.

Nagpur is one of the 17 focused home markets for the Bank that contributes significantly to the growth strategy of the Bank.

The new branch was inaugurated by the Minister for Road Transport & Highways in the Government of India, Nitin Gadkari in the presence of senior officials of IndusInd Bank.

The new branch will provide services like Saving & Current accounts, Loan products, Wealth Management services, and Credit cards. It will also offer customers innovative facilities like ‘Video Branch’, ‘My Account, My Number’, ‘Choice Money ATM’, ‘Direct Connect’, ‘Check on Cheque’, ‘Cash on Mobile’, and ‘Finger Print’ banking.

With this new branch, IndusInd Bank now has a wide network of 250 branches across Maharashtra. As of 31st March 2023, IndusInd Bank has 2606 Branches/Banking Outlets across India. In terms of the Bank’s overall business as on 31st March 2023, total deposits of the Bank stood at Rs 3,36,120 crores and advances at Rs 2,89,924 crores. Further, the advances include the consumer banking segment contributing 54 percent and within that vehicle finance at 26 percent and Micro Finance 11 percent.

“We are happy to inaugurate a new branch in Nagpur which is a constantly evolving market for the Bank. Nagpur is one of the Bank’s 17 focused home markets we have in India. We are committed to invest in more branches, people and technology in Nagpur to become a neighborhood Bank for the customers, offering innovative products and superior services. The new branch aims to deepen relationships and attract new customers, thus strengthening IndusInd Bank’s client base across the region. As we expand our reach to serve the local populace, we look forward to bring a whole new world of convenience and flexibility to customers,” said Soumitra Sen, Head- Consumer Banking & Marketing, IndusInd Bank.

Courtesy: FPJ, Equity Bulls, Market Screener