MaGE plans to open 2 new centres in Bangalore, Jaipur

Buoyed by the demand for “job-ready” executives in banks who are expanding in small Indian cities and towns and its own success, Manipal Global Education Services (MaGE) is expanding its presence in the banking training space and is planning to open two centres in addition to the existing one in Bangalore.

“The two centres will come up at Electronics City, Bangalore, and Jaipur, each with a capacity to seat about 1,000 participants and offer banking and allied training programmes,” MaGE Executive President-Education Services, V Sivaramakrishnan said.

The Bangalore centre will come up in July 2013 and the Jaipur one by April 2014.

The two centres will lead to a spurt in its revenues as and when they go full stream, given that it earns Rs 3.50 lakh from each participant for the 12-month course, comprising nine months at the centre for domain, technology and behavioural skills, and three months at the respective banks. MaGE’s current revenues are estimated to be Rs 1,300 crore.

MaGE, which started initially with training young executives for private sector lender ICICI Bank under the name “ICICI Manipal Academy” in 2007-08, today has lined up many more banks, notably Axis Bank, Federal Bank, Ratnakar Bank, Tamilnad Mercantile Bank, Andhra Bank, Punjab National Bank and Bank of Baroda.

Its existing centre in Bangalore has about 4,800 participants currently undergoing training to be absorbed in various banks. While the regular programmes are of 12 month duration, some, like Ratnakar Bank and Tamilnad Mercantile Bank have preferred customised, short-duration programmes, said Sivaramakrishnan.

With public sector banks recruiting staff in a big way after a long freeze and private sector banks expanding in small cities and towns, trainers like MaGE can continue to “laugh their way to the bank” by training bank executives.