Money & Banking

ESAF Small Finance Bank opens new branch in Coimbatore

PTI Coimbatore | Updated on August 27, 2019 Published on August 27, 2019

ESAF Small Finance Bank on Tuesday opened a new branch here, the 275th in the country.

Speaking at the inaugural function, the bank’s Vice President K Swaminathan said the bank has a vision to be India’s leading social bank that offers equal opportunities to society through universal access and financial deepening, thus promising financial inclusion, livelihood and economic development.

Read: ESAF SFB profit up 234% in FY19

As of now, the bank has 436 banking outlets, including 238 new retail banking outlets and 198 ultra small branches and 208 ATMs, spread across 113 districts in 14 states in the country, he said.

Stating that the bank has 99.97 per cent recovery as customers themselves come and repay, Swaminathan said the bank’s capital adequacy ratio stood at 25 per cent.

The bank, he said, was on a mission to provide responsive banking services to the undeserved and un-served households facilitated by customer-centric products, high quality service and innovative technology.

Chairman and Managing Trustee of Sri Krishna Group of Institutions S Malarvizhi inaugurated the branch.

Published on August 27, 2019
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