Expanding GP Parsik Bank to set its feet in Karnataka

Growing at an unprecedented pace Maharashtra based G P Parsik Sahakari Bank (Multi-State Scheduled Bank) inaugurated its 82nd branch at Dharampeth and 83rd branch at Lokmat Chouk, Nagpur last week. Both the branches were inaugurated by Ranjit Gopinath Patil, Chairman of the Bank.

Inaugurating the branch, Ranjit Gopinath Patil, Chairman, G P Parsik Sahakari Bank said, “We are delighted to announce the opening of the bank’s first branch in Nagpur. We are expecting the business turnover of over 30 crore from branches till the next financial year.

Apart from offering traditional Banking products, the Bank has always been in the forefront enabling a host of digital banking channels to increase the facilities and services for its customers, which encompass Internet Banking, SMS Banking, Mobile Banking, Missed Call Banking etc.

The Bank is expected to reach a total number of 101 branches and business mix of 10,000 crore by 2020, with its strong capital base being the premise of its network expansion. The Bank has also obtained permission to expand its operations in the state of Karnataka and set to open its first branch there in the month of March”.

Talking to Indian Cooperative correspondent Sadanand Krishna Nayak, Chief Executive Officer said “We are planning to expand our business operation in the state of Karnataka in March. Presently, the bank is having branches in two states including Maharashtra and Goa”.

“The premises and areas for opening branches have been decided but the date is yet to be finalized. We will open two branches at Nipani and Belgaum of Karnataka in the month of March and it will be our first expansion in this state”, he said.

“Presently, we are having a network of 83 branches in two states in Maharashtra and Goa. We have received the license for opening 10 branches in the current financial year from the Reserve Bank of India. The target will be achieved before June”, he claimed.

The G P Parsik bank was established on 21st May 1972. It is having a business mix of about 5,700 crore. The bank has earned a net profit of Rs 47 crore in the last financial year.

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