Chola has close to 24 branches currently in Bihar and with penetration into new markets and that of Hajipur (Bihar /East India), that holds tremendous potential, aims to strengthen branch presence in this region. The company further plans to add around seven more branches in the upcoming phases.
Commenting on the inauguration of the new branch in Hajipur, Mr. Vellayan Subbiah – Managing Director, Chola, said, “Bihar is a market with extreme potential and with the launch of our new branch we strengthen our presence here and deepen our relationships with our existing clientele and welcome new clients. We aim to facilitate the financial needs of our customers and bring convenience at large for them. At present, on a national level, Chola has 70% of its branches in rural areas, 20% in semi-urban, 10% in urban areas and is continuously engaging with customers to provide an enriching customer service experience.”
Mr. Ravindra Kundu – Executive VP & Business Head – Vehicle Finance, Chola, on the occasion of the new branch inauguration, said, “By expanding our footprint in Bihar, we aim to provide excellent customer service to our clientele. By being spread far and wide across the country, Chola wishes to reach out to maximum customers and provide better service through quicker response time.”
As a part of its growth plan for FY 16-17, Chola plans to open over 150 new branches in locations across India. The launch of the new branch opened today is a part of the larger branch expansion exercise for this year. Chola which currently operates out of 617 branches across India plans to expand this network to over 700 branches in this financial year.