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Bandhan may list after 3 years as a bank

Bandhan Financial Services, which is about to set up a bank, may list on the stock exchanges after three years of operation as the bank, Chandra Sekhar Ghosh, CMD of the company said. He said as per RBI norms, Bandhan Bank will get listed after three years of operation as a banking entity. He said the company hopes to start banking activity from early next financial year. Initially, he said, 600 branches would be opened to serve its existing customer base. Bandhan has appointed consultancy firm Deloitte to advice it on converting from a micro-finance institution to a bank. With an employee strength of about 12,900, Bandhan has a customer base of 55 lakh with 2,016 branches, mostly in the rural and semi-urban areas.

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