ESAF Small Finance Bank plans to open 145 new branches by March...

ESAF Small Finance Bank plans to open 145 new branches by March 2018



ESAF Small Finance Bank, the first bank from Kerala to win a banking license since independence, is all set to open its first branch in the metro city of Mumbai, on Nov 22, 2017. With an aim to build a pan India presence, ESAF bank will open 145 new banking outlets by March next year.

K. Paul Thomas, Managing Director and CEO, ESAF Small Finance Bank said, “The banking outlet at Mumbai, Andheri East is the 60th outlet opened by ESAF, since it started operations in March this year. He also said that ESAF has presence in Maharashtra since 2004, with 33 micro banking outlets, especially in the Vidharbha region.”

Currently, ESAF Small Finance Bank has 370 banking outlets including the 60 new retail banking outlets covering 10 states in India. In the coming months, the bank plans to open more number of outlets in the states where we already have presence and will be soon expanding to the North East as well.

The bank has crossed INR 1000 crore deposit within seven months of operations. It hopes to garner a total of Rs 2500 crore deposit by the end of this fiscal. At the end of the second quarter, ESAF has a cumulative business of over 6,000 crore.

The bank offers a host of modern banking services like ATMs, Debit Card, Safe Deposit Lockers, Internet banking, and mobile banking, SMS banking, RTGS, NEFT and CTS etc. The door step delivery services, SKYPE facility at branches and Hrudaya Deposit Scheme are some of the exclusive features offered by ESAF Small Finance Bank.