The recently set up Bharatiya Mahila Bank is eyeing a business of Rs 1,800 crore this fiscal (FY-15), its Chairman and Managing Director, Usha Anathasubramanian, said.
Having begun operations in November last year with the vision of economic empowerment for women, the bank did a total business of Rs 175 crore to Rs 180 crore till March this year.
“This fiscal (2014-15) will be our first full year of operations. We are aiming to have a deposit base of Rs 1,000 crore and an advances portfolio of around Rs 800 crore,” she said.
Ananthasubramanian was speaking to the media on the sidelines of a banking seminar organised by the Indian Chamber of Commerce (ICC).
According to her, although the bank will mobilise deposits from all (irrespective of gender); but will prefer to lend mostly to women.
Rates for women will also be differentiated; which means that it will offer interest rate discounts or lower interest rates to loans offered to women customers.
Focus will primarily be on retail, SME and mid-corporate sectors. Credit to large corporates through consortium lending can also be explored.
Branch Network
Bharatiya Mahila Bank currently has 23 branches across the country and plans are afoot to add another 55-odd to its network over the next nine months (By FY-15).
Around 200 new recruitments are expected to be made this fiscal. Currently it has a employee strength of 200.
While former Union Finance Minister P Chidambaram had indicated that the Mahila Bank will open overseas offices in due course, Ananthasubramanian clarified that there was no such plans as of now.
“It (having overseas branches) is too premature at this juncture,” she said.