ESAF Small Finance Bank to have 500 Branches by 2020, Says MD Paul Thomas
Thrissur: ESAF Small Finance Bank, which has completed two years of operations, will soon introduce robot-aided banking services for its customers, according to K Paul Thomas, MD and CEO of ESAF Small Finance Bank.
Speaking at a press conference here the other day, he said during the past two years the Bank has added 10 lakh new customers and the total number of branches is expected to cross 500 by 2020. The total deposits increased to Rs. 3,900 crore while the total business increased to Rs. 8,900 crore. Spread over 113 districts in 14 states, ESAF Small Finance Bank now has 440 banking outlets, 208 ATMs and 27 lakh customers. Advances worth Rs. 5,000 crore, including new advances have already been distributed, Paul Thomas said.
Having a capital base of Rs. 880 crore, the Bank employs more than 2,000 people. The Bank has adopted Unified Payment Interface (UPI). Besides the existing banking app new mobile app for UPI alone will soon be introduced. Apart from banking-related services the app will facilitate fund transfer and corporate banking facilities for customers.
ESAF Small Finance Bank provides all modern banking related services such as ATM, safe deposit locker, debit card, internet banking, mobile banking, SMS banking, RTGS, NEFT, CTS, NRI Banking Services etc. to its customers. Besides, the Bank also offers door step services, Skype facility and Hridaya Deposit Scheme to its customers, according to the MD of the Bank.
ESAF Small Finance Bank, which has presence in states such as Kerala, Tamil Nadu, Puduchery, Karnataka, Maharashtra, Chhattisgarh, Madhya Pradesh, Andhra Pradesh, Odisha, West Bengal, Jharkhand, Bihar, Assam and Delhi, commenced commercial operations on March 10, 2017.
Mereena Paul, Co-Founder, ESAF and Chairperson ESAF Cooperative; A G Varghese and George K John, both Executive Vice Presidents of ESAF Small Finance Bank, were also present at the press conference.