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Bharatiya Mahila Bank targets Rs1,800 crore business in FY15

LiveMint logoLiveMint 15-06-2014 PTI

Kolkata: Bharatiya Mahila Bank Ltd (BMB), incorporated under the Companies Act last fiscal to extend banking services specifically to women, is targeting business worth `1,800 crore this fiscal.

“This financial year will be the first full year of operations. This fiscal we are targeting at a deposit base of `1,000 crore and advances of `800 crore,” said Usha Ananthasubramanian, the bank’s chairman and managing director.

She said that in the four-and-a-half months of operation in the last fiscal, the bank’s business was `175 crore.

Fully-owned by the government, with a seed capital of `1,000 crore, the bank had set up 23 branches across the country, she told reporters on Saturday evening, adding that this fiscal, BMB would add 57 more branches across the country.

To a query, she said that there was no immediate need to raise capital to support business needs.

“Listing will take time. The bank is not like other public sector banks which are under the Bank Nationalisation Act”, she said.

The bank plans to provide loans to women at concessional rates.

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