Bandhan Bank, one of the fastest growing banks in India, has embarked on a journey to increase its geographical presence. It recently announced that it will be opening 50 additional branches in one day. Following this, the bank’s shares soared on Friday, extending gains to a second consecutive day. Bandhan Bank’s stock increased by as much as 4% to Rs 197.8 per share during the session. Speaking of its new branches, according to a statement from the lender, the new branches are primarily spread out across Bihar, Gujarat, and Madhya Pradesh. With this most recent addition, Bandhan Bank increased the number of its locations to over 1,400.

According to a statement by Bandhan Bank’s management, the bank is hoping to increase the share of secured loans by expanding its presence outside of the East and North East over the next few years. Moreover, from the next financial year, the lender said that it has plans of introducing new products, in addition to increasing the width of services, while commenting on the occasion.

Chandra Shekhar Ghosh, MD and CEO of Bandhan Bank believes that India needs a deeper penetration of banking outlets to make sure that everyone has access to banking. “Bandhan Bank is committed to being a bank for all and we are invested in increasing our presence to serve all kinds of customers. Today’s announcement is another step of the Bank’s strategy to extend its reach and offer a world-class consumer banking experience across India,” he further added.

Bandhan Bank, headquartered in Kolkata,  began operations on August 23, 2015, with 501 branches, 50 ATMs, and 2,022 Banking Units after receiving the universal banking license from the Reserve Bank of India. On Tuesday, it was making headlines for hitting three-year low and giving negative 7.54 percent return over the last week. However, the announcement of opening more branches has turned the tables.

Read More: Government Revoked License of 18 Pharma Companies, Read Below To Know Why