ICICI Bank to add 450 branches this fiscal
24 September 2019
ICICI Bank on Monday announced a major expansion of branch network by adding 450 new retail offices this financial year, which will take its branch count to 5,190.
ICICI Bank has a wide network of branches, extension counters and automated teller machines (ATMs) across the country and nearly half of the branches are in rural and semi-urban areas to facilitate financial inclusion in the country, the bank said.
ICICI Bank has already made operational 320 branches so far this fiscal and has already crossed the 5,000 branches mark¸ the bank stated in a release.
Another set of 130 branches will also be ready by the end of the current financial year, it added.
"We believe that a wide branch network continues to be important for retail banking. It helps deepen the relationship with the customer by serving them a wide range of products and offerings," ICICI Bank executive director Anup Bagchi said.
More importantly, the branches offer consultation and guidance to customers for all kinds of banking requirements, including mortgages, business banking, other loans and investments, he said.
In the past few years, the bank has seen that the nature of business at branches has evolved and customers are now keener to seek advice and guidance from branches for complex transactions, loans and investments. For simple transactions, they prefer doing it over digital channels like internet and mobile banking, it said.