Fincare Small Finance Bank (SFB) aims to grow its loan book size to Rs 10,000 crore by 2020-21 and targets to gain 40 lakh customers by then, its managing director and chief executive Rajeev Yadav said today.
“Our FY’21 vision is to be a Rs 10,000 crore assets company and 4 million customers. We believe once we reach Rs 10,000 crore, we will have a reasonable mass of customers and size,” Yadav said in an interaction.
Fincare SFB was earlier known as Dish Microfin as an NBFC and it forayed into Delhi market by opening a branch here today.
“So if we look at growth rate, this is a very healthy growth rate of the order to 60-70 percent for the next three years,” he further said.
He said the bank wants to have its presence in at least top 80 cities of the country or to be covering at least 30 percent states.
Fincare started its SFB operations in July 2017, one of the ten entities that were granted RBI approval in 2015.
In the last one year since its launch, the bank has built a deposit base of over Rs 1,200 crore from institutional and retail customers and a loan portfolio of over Rs 2,700 crore.
As on date, Fincare has a total of 500 banking outlets across 10 states and 1 union territory.