Junagadh City Kotak Mahindra Branch Gujarat India

Junagadh(Saurastra) will have Kotak Mahindra Branch in future.

The fifth largest private sector bank Kotak Mahindra on Tueasday announced its expansion plan in Gujarat.

The Group-head of Retail Liabilities and Branch Banking, K V S Manian told reporters here that the bank would be opening more branches in the state by the end of current Financial Year.

"Looking at the response we got from customers in Gujarat we have decided to expand our network from the current 33 branches to 45 across 22 districts and 34 locations by the end of this fiscal year," said Manian, who was here to inaugurate the bank's first branch in Gandhinagar.

"Gujarat is one of the properous states in the country and a key market for us and we see immense potential for growth and expansion here. If we look at our all-India business, 15 per cent is from Gujarat," Manian added.

The places where Kotak Mahindra Bank will open its new branches in the state includes Puna, Vyara, Palsana and Sachin in Surat district, Dahod, Palanpur in Banaskantha district, Kakoshi and Siddhpur in Patan, Junagadh, Amreli and Junagadh.

Manian said the expansion is part of its nation-wide initiative to set up over 100 branches at the cost of over Rs 200 crores in the current financial year.