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08 Aug 2020, Edition - 1852, Saturday

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Coimbatore

Ujjivan Small Finance Bank begins State operations

Covai Post Network

Ujjivan Small Finance Bank Limited (USFB), a wholly owned subsidiary of Ujjivan Financial Services Ltd. today opened five branches in the State.

The branches are in Salem, Krishnagiri, Dharmapuri, Vellore Katpadi and Tirupathur. Commencing its operations with pilot branches in Bengaluru in February, USFB at present has 34 branches covering Karnataka, Maharasthra, New Delhi, West Bengal and now Tamil Nadu.

Over a period of eight years, Ujjivan’s microfinance branch in Salem has catered to over 12,700 customers and would be on-boarded as bank customers, a bank statement said.

With its presence across 24 districts in Tamil Nadu, it has 56 microfinance branches, catering to over 5.04 lakh customers and disbursed more than Rs3,136 crore as loan.

“In less than four months of our bank launch, we have established our presence across all four regions – South, North, East and West and in the
coming months, we will continue to increase our banking footprint across the country,” USFB Managing Director and CEO Samit Ghosh said in the statement.

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