Bank branches could grow by as much as 20% in fiscal ’17 – Feedback

Given the explosion in technology-driven transactions, it’s almost a given that bank branch expansions could be coming to an end. But not so in fiscal ’17, when branches could grow by as much as 20% as there’s a need to sell many financial products since that’s the only way to exploit the rising financial inclusion that has opened up possibilities, bankers said.

“We will open about 400 branches next year and these will be primarily be in metros, urban and semi-urban areas,” Rajiv Anand, Group Executive & Head – Retail Banking at Axis Bank, told ET. “We have used analytics to identify branches — this is based on a model that we have built which looks at affluence in various areas, the industry growth of deposits and other banking products, the density of competition and internal factors like the bank’s own performance in these areas.”

http://economictimes.indiatimes.com/industry/banking/finance/banking/bank-branches-could-grow-by-as-much-as-20-in-fiscal-17/articleshow/51626684.cms

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