Private Banking Sector Leads In Opening New Branches In India
By Joseph Samson
Sep 4, 2013
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The uncertainty over the macroeconomic condition has not helped the private sector banks to increase their networks in India. The public sector banks are opening new branches, for the last five years and only the ICICI and the HDFC banks opened a few additional branches. In recent times, private banks have decided to expand their business dealings, by opening many new branches in India. From 2006 to 2013, the ICICI bank has increased its branches to 1,838 and the HDFC Bank opened 2,301 branches. In the public sector banking, the PNB opened 1,610 branches and the Bank of Baroda opened 1,483 new branches.

The Oriental Bank of Commerce said it would go slow in expanding its networks, during this year. The private sector banks do not have any reservations in creating new branches and they feel that they would be able to improve their business, once the banks become familiar with the depositors. Today, the private banks in India have more branches, than the public sector banks.

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