Madison wins media mandate of Bandhan Bank

11 Mar,2015

By A Correspondent

 

Madison Media has won the mandate for the proposed Bandhan Bank Ltd in Kolkata.

 

Bandhan Financial Services Ltd, a microfinance entity, was set up in 2001 to address the dual objective of poverty alleviation and women empowerment. Bandhan has been the talk of the banking and financing community having got an in-principle approval from the Reserve Bank of India to start banking operations. Currently, it operates in 22 Indian states through more than 2000 branches, run by 14,000 employees. It has a borrower base of 6.5 million. As a bank, it will have pan-India operations and meet the credit needs of different types of customers even as offering various savings products.

 

Commenting on this development, C S Ghosh, Chairman and Managing Director, Bandhan said, “As we embark on this new journey, we need to reach out to new consumer across Indian states and we are confident that Madison will help us achieve our objective.”

 

Sam Balsara

Sam Balsara, CMD, Madison World said, “Bandhan’s accomplishments are truly remarkable and we are delighted to partner them in this exciting new phase in their life which will make them play an even more meaningful role in the Indian financial sector, changing lives of many millions.”

 

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