Targeting growth in the retail sector, Indian Bank opened its branch in Kovaipudur, taking its branch network to 88 in Coimbatore zone covering four districts.

The bank is cashing in on its brand name to further retail business in the area, despite the presence of a large number of banks, zonal manager A Ganesaraman told the media.

The zone had Rs 3,000 crore worth retail portfolio in the districts of Coimbatore, Erode, Tirupur and the Nilgiris, with major contribution coming from the textile industry, he said.

The branch, the 2,655th in the country, was inaugurated by Sri Krishna chairperson and managing trustee S Malarvizhi.

On support to the agriculture sector, Ganesaraman said that since farming activities were limited in and around Erode and Tirupur, credit was around Rs 700 crore. More branches would be opened in the next fiscal, he added.