The leading bank of the Maharashtra region NKGSB Cooperative Bank (Multi-State Scheduled Cooperative Bank) has expanded its business in Indore, Madhya Pradesh and opened its 106th branch in the state.
While inaugurating the branch, Kishore Kulkarni, Chairman NKGSB Cooperative Bank said “We are delighted to announce that NKGSB Bank has expanded its banking business in the city of Madhya Pradesh and opened its 106th Branch.
Apart from offering traditional Banking products, the Bank has always been in the forefront in enabling a host of digital banking channels to increase the facilities and services for its customers, claimed its Chairman.
“The bank is expected to reach a total number of 110th branches by the end of financial year 2017-18. The bank’s further expansion of branches will be in Maharashtra and Gujarat”, he added.
Soon after the launching ceremony the Bank CEO Chintamani Nadkarni said that “It is a proud moment for 100 years old cooperative bank that it has expanded its business in Indore city of Madhya Pradesh which is the first branch in the state”.
“Besides Madhya Pradesh, NKGSB Cooperative Bank is having a branch network in four states including Karnataka, Goa, Mumbai and Gujarat. In the first year, we are expecting a business of over Rs 10 crore from the newly inaugurated branch in Indore, said Nadkarni while talking to this correspondent.
Besides chairman, more than five directors of the bank, officials and others were present during the launching ceremony.
NKGSB Cooperative Bank was established in September 1917 and completed its 100 years last month. In the centenary year, the bank has held scores of functions at various places.
The Bank has a business mix of about Rs 12 thousand crore and earned a net profit to the tune of Rs 46 crore in the last financial year. The bank has adopted Infosys company software.
Readers would recall that earlier the bank had received an award from The Brihanmumbai Nagari Sahakari Bank Association ltd.