Kerala-based ESAF Small Finance Bank plans to open 100 branches by March 2018

Kerala-based ESAF Small Finance Bank plans to open 100 branches by March 2018 as part of expanding presence across the country, a top official said.

“With an aim to build a pan India presence, ESAF Small Finance Bank will have a total of 100 branches by March this year. So far, the bank total business crossed Rs 6,000 crore”, ESAF Small Finance Bank, Managing Director and CEO, K Paul Thomas said in a statement.

At the end of this financial year, the bank’s total business would touch Rs 9,000 crore, he said.
Currently, ESAF Small Finance Bank has about 388 banking outlets in 10 States. It’s fourth branch in Tamil Nadu was inaugurated near Coimbatore recently.

ESAF Small Finance Bank was one among the 10 Non-banking finance companies to receive ‘in-principle’ approval from Reserve Bank of India to start banking operations.