ICICI Bank opens 33 new branches in UP in FY20, focus on unbanked areas

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Published: October 23, 2019 4:23:26 PM

The bank's strategy is to set up branches wherever business activity emerges.

icici, icici bankThe bank aims to open 450 new branches across the country in 2019-20, of which more than 375 have already been opened.

ICICI Bank has opened 33 new branches in Uttar Pradesh in 2019-20, including some branches in unbanked areas, a top company official said.

The bank now has a network of nearly 300 branches and extension counters in UP along with over 1,260 ATMs. Pan India, it has a wide retail network of 5,250 branches, ICICI Bank Executive Director Anup Bagchi told PTI.

“While expanding our network in the state, we have laid emphasis on unbanked areas and opened 33 new branches,” he said.

The new branches have been opened in hitherto unbanked remote villages in Fatehpur Kalan, Kasahai, Kathula Gospur, Malawan, Mundia Ahmed Nagar, Sarai Gulharia and Sidki, he said.

Other branches have been opened in locations like Lucknow, Greater Noida, Kanpur, Aligarh, Gorakhpur among others, he said.

The bank aims to open 450 new branches across the country in 2019-20, of which more than 375 have already been opened.

Bagchi, however, did not specify the number of branches proposed to be opened in UP.

“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,” he said.

The bank’s strategy is to set up branches wherever business activity emerges.

“We will continue to follow this strategy and add more branches in the state wherever required in the future as well,” he said.

Bagchi said that the nature of business at branches has evolved in the last few years. Customers are now more keen on seeking 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.

“Our new branches too have been aligned to meet these evolving requirements…The design principle focuses on enhancing digital transactions by introducing 24×7 e-lobby at many branches, simplifying customer navigation with demarcated spaces for transactions as well as elevating customer engagement levels with exclusive engagement pods for loans and investments at prominent catchment areas,” he said.

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