Mahila Bank has set a deposit target of Rs 1,000 crore and lending target of Rs Rs 800 crore in the current fiscal.
UPA led Bharatiya Mahila Bank has successfully completed a year this November with a capital fusion of Rs 1,000 crore, according to a PTI report.
Usha Ananthasubramanian, Chairman and MD, Bharatiya Mahila Bank, told PTI, “Bharatiya Mahila Bank will emerge as a strong brand over time. The challenge has been to establish the brand. We are a new player and at every location you are a new face.”
"Since the business involved dealing with other people's money, individuals take time to warm up to a new player. Even a moneylender in a village enjoys more trust. Unless you become familiar or are introduced to the people over and over again, they will not trust you," she further told PTI.
The report states further the Mahila Bank has set a deposit target of Rs 1,000 crore and lending target of Rs Rs 800 crore in the current fiscal. Currently, the banks deposit stands at over Rs 300 crore and loans at Rs 500 crore.
As a part of the expansion plan, the bank will increase its branch network to 80 by March-end, which will comprise 20 rural branches. In addition, the bank will also introduce 50 offsite ATMs across India by the end of this year.