India’s First All-women Bank Aims To Collect Rs 1,000 Crore Deposits In FY 2014-15

Bharatiya Mahila Bank (BMB), the first all-women bank that was set up by the UPA government last year, has set tough targets for itself in the coming year i.e. 2014-15. The bank, which recently completed a year, now aims to grow its deposit base in the country and collect Rs 1,000 crore by the end of FY 2014-15.

BMB's Chairperson and Managing Director Usha Ananthasubramanian shared this information while talking to reporters on the opening ceremony of the bank’s 35th branch in Ghatkopar, Mumbai. She said, "As of today our total business is at Rs 825 crore. For this year, we are aiming advances of Rs 800 crore and deposits at Rs 1,000 crore."

According to Ananthasubramanian, the BMB banks will soon open their branches in tier II and tier III cities. "We are also planning to roll out 50 offsite ATMs across the country by the end of this year," she said.