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Our Bureau

Hyderabad , May 13

KOTAK Mahindra Bank expects to record a robust growth of over 60 per cent in its business volumes and report a balance sheet size of around Rs 10,000 crore for the current fiscal.

Talking to newspersons here on Friday, its Group Head, Retail Liabilities & Branch Banking, Mr K.V.S. Manian, said the bank, with 40 branches in 25 locations, currently has a balance sheet size of around Rs 6,000 crore.

"We plan to expand our branch network to 70 during the current fiscal and 100 branches by March 2007. At an anticipated annual growth rate of around 50 per cent, we hope to touch Rs 20,000-crore mark in balance sheet size by March 2009," Mr Manian said.

According to him, the bank currently has almost all types of products for its customers by integrating all the financial solutions of its subsidiary companies under a single roof. It would finalise the alliance with a non-life insurance company during the current fiscal to distribute its products.

The bank, with a networth of around Rs 600 crore, is currently enjoying a capital to risk assets ratio (CRAR) of over 12 per cent. It would be comfortable with its CRAR even after the Basel-II norms come into force. The tier-I capital gives ample scope for raising subordinated debt under tier-II capital route. However, the bank has no plans to raise capital in the near future, he said.

Kotak Mahindra Bank has adopted a slightly different strategy for its automated teller machine (ATM) network and preferred to go in for share network instead of setting up the network on its own. It has tied up with UTI Bank for access to over 1,000 ATMs and with VISA for offering its customers with access to over 6,000 ATMs. The bank now has 40 on-site and 12 off-site ATMs of its own. "The focus going forward will be on putting up adequate number of own off-site ATMs at strategic locations," Mr Manian said.

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