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Kerala-based ESAF Small Finance Bank has posted a profit of ₹27 crore in the first full year of operations ending March 2018. The bank had earned a total income of ₹699 crore for the year.
With a client base of 23 lakh, it has crossed ₹2,500 crore deposit base, ₹4,100 crore loans and advances and total business ₹6,600 crore within one year of operations. Its micro-banking assets crossed ₹4,050 crore, while the retail banking assets stand at ₹50 crore.
According to K Paul Thomas, Managing Director and CEO, the bank plans to achieve ₹7,000 crore deposits, ₹8,000 crore loans and advances, ₹15,000 crore total business, 200 new retail banking outlets and 125 new ATMs across the country before the end of this fiscal.
ESAF Small Finance Bank also plans to cover five more States in the North-East and Central India soon.
As on date, the bank has more than 400 banking outlets, including 104 new retail banking outlets and 175 ATMs.
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