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New branches in 2013: highest in decade

State-run and private sector banks have opened more than 7,300 branches during calendar year 2013. The yoy growth was 4.2% a whooping growth of about 600% over the 2004 number of new branches. Ashutosh Limaye, head – Research & Real Estate Intelligence Service, Jones Lang LaSalle India, says this is the highest number of new branches when considering the decade of 2004-2013. A majority of branches were opened in non-metropolitan locations, he said pointing out that HDFC Bank alone opened 333 of its 339 new branches in rural and semi-urban centres, while about 80 % of Canara Bank’s new branches were outside metro and urban locations. The area requirement was smaller in the semi-urban and rural areas and could even be in the range of 1,000-1,500 sq ft. The smaller area is functional for them in terms increasing the reach to different remote areas.

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