Private sector lender, Kotak Mahindra Bank is planning to open 100 branches during the current fiscal as the savings bank balance of the bank has increased 45% year- on- year, the bank also added 1.5 lakh customer accounts during the first three months of the fiscal. At present, the bank has total branch count of 450.
Further, the bank will open five additional branches in Tamil Nadu as deposits in the state have increased by 40% to over Rs 2,150 crore, while savings account deposits increased 33% to Rs 350 crore as on June 30.
Recently, the bank unveiled ‘Kotak Junior’, a specially designed savings bank account for children in Chhattisgarh. This new account has been aimed to encourage children in the age group of 0-18 to save money smartly.
