Fullerton India launches its 50th rural branch in Karnataka
With the launch of the new branch, the total number of rural and urban branches of the company reaches 67
5 Dariya News
Bangalore 04-Aug-2016
Fullerton India, a leading non-banking financial company in India, with a strong pan-India presence, today announced the launch of its 50th rural branch in the state of Karnataka. The new branch which is located in Shahapur falls within the district of Yadagiri and will serve customers through an array of rural financing products such as Livelihood Advancement Loans for Women’s Groups, Mortgage Loans, Two-wheeler Loans and Enterprise Loans.The company has a strong presence in rural markets of Karnataka with over 2.63 lacs customers (as on 30th June 2016). Through the launch of this new rural branch, the total branch count in the state reaches to 67 across rural and urban markets.
Commenting on this development, Mr. Rakesh Makkar, Executive Vice President and Head, Business, Marketing and CSR, Fullerton India said, “Driving development through financial inclusion has always been a core focus for us at Fullerton India. Through our diversified product portfolio and extensive reach we aim to address the needs of the under-banked and unbanked communities in the state. We have already introduced four new rural branches in Karnataka this financial year and also plan to extend our reach further in the state.”Fullerton India recently closed its financials with a strong growth of 43% pre-tax profit and overall revenue growth of 32%. The company has carved a niche for itself in the financial services sector through an extensive reach and customer base with over 514 branches across 600 towns and over 50,000 villages in the country. Over the years, Fullerton India has built high levels of customer trust and satisfaction through its reliable, transparent and timely service.
About Fullerton India Credit Company Limited:
Fullerton India Credit Company Limited (FICCL) is one of India’s leading Non-Banking Finance Companies (NBFC). The total revenue of the company for the fiscal year ending March ’16 stood at Rs.2, 277 crores. As on June 30, 2016, the AUM of the Company stood at Rs.11, 980 crores, serving over 15 lakh customers through a widespread network of 514 branches spread across 22 states and 3 union territories, reaching out to 600 towns and over 50,000 villages in the country. Fullerton India offers several retail finance products for varying needs of customers ranging from rural households to SMEs, in the locations it serves. In February 2016, Fullerton India set up its housing finance company – Grihashakti. The company is headquartered in Mumbai and operates through 20 branches spread across 7 states – Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu and West Bengal. Fullerton India is a wholly-owned subsidiary of Fullerton Financial Holdings, Singapore, which is a subsidiary of Temasek Holdings of Singapore.