Ujjivan Small Finance Bank (Ujjivan SFB) has strengthened its presence in Bengaluru by opening six new branches. The branches are located at Magadi Road, Chandra Layout, Chamarajpet, Uttarahalli, Devaiah Park and Nelamangala.
Ujjivan commenced its banking operations last month with five pilot branches in Bengaluru. Over the next few months, the bank is planning to open 12 more branches in the city and expand its presence across 24 States in a planned and phased manner.
Samit Ghosh, Managing Director and CEO, Ujjivan Small Finance Bank, said: “We are pleased to expand our network in Bengaluru, which has always been a strategic market for us. Currently, 11 branches of Ujjivan SFB are offering full range of banking services.”
“At Ujjivan SFB, we are striving towards making banking more seamless and accessible for our customers using the latest technology.
“In the coming months, we will maintain our momentum by increasing our footprint across Karnataka and nationally to serve our target customer segment,” he added.
The bank has invested significantly on technology and digitisation. Aadhaar-enabled KYC and a simplified process will enable account opening in five to seven minutes using biometric authentication on a hand-held device.
Ujjivan SFB has also begun offering competitive and attractive rates of interest on fixed and recurring deposits.
“Ujjivan SFB’s goal is to build a leading state-of-the-art mass market retail bank in five years to serve the vast un-served and under-served customers who currently are outside the formal banking system,” said Ghosh.
The bank’s branches have been specifically designed to be customer-friendly with the philosophy of “always assisted”. “The bank will be inviting customers on a facilitated guided tour where critical aspects of banking services will be explained and demonstrated,” he said.