Ratnakar Bank to add 50 branches this fiscal
Private sector lender Ratnakar Bank is targeting to add around 50 branches this fiscal with a majority of them being outside Maharashtra, a top official said here today. The bank's branch network has grown to 105 from 80 in the last 18 months and it will add up to 50 this fiscal, bank's managing director and chief executive Vishwavir Ahuja told reporters here. During the 18-month period, when the bank had a massive revamp, it has been able to grow its balance sheet size by three times to nearly Rs 7,500 crore, he said. It is targeting to take the total number of branches to 300 in the next three years, Ahuja said. In line with its strategy of expanding in other parts, only a third of the incremental branches will be in Maharashtra while the rest will be outside, bank's consumer and retail banking head Nitin Chopra said.
Netmagic Solutions, today entered in an outsourcing partnership with Ratnakar Bank .
Netmagic will host and support infrastructure for applications such as Finacle Core Banking System, emails, file servers, branch terminal servers, treasury services, depository systems, asset liability management, internet banking, training application for Ratnakar Bank.
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