Axis Bank is expanding its networks in Orissa to consolidate its position in the state. “We want to cover all the 30 districts of the state in next two years,” the bank’s president (eastern zone), SK Mitra, said. The bank is now present in 18 districts of Orissa.
Mitra, who was here on Thursday to grace the inauguration of the 26th branch in the state, said that six more branches, each at Jatni, Talcher, Nuapada, Jagatpur, Sundergarh and Baripada, would be opened in Orissa during the current fiscal. The bank is proposing to open 10 branches in the state next fiscal to cover the remaining districts.
Axis Bank is also planning to increase its ATM services in the state to 75 from the present 65 by the end of 2008-09.
“With the new branches coming up, we are confident to lead in the private banking network in the state”, Mitra said.
Axis Bank, which has one agriculture cluster at Cuttack consisting of four branches, is coming up with one such cluster at Sambalpur by the end of 2008-09. Plans are also there to have a currency chest and an ATM nodal cell at Bhubaneswar.
Mitra said that Axis Bank, which is having a total business of Rs 3000 crore in the state, is going to improve its credit deposit ratio to 45% to 50% by the end of 2009-10 from the present 33%.