Bangalore, 1 June 2016: Fullerton India, a leading non-banking financial company in India, with a strong pan-India presence, today announced the launch of its 500th branch. The new branch will be located in Dewas in the state of Madhya Pradesh and will serve customers through an array of rural financing products that include Livelihood Advancement Loans for Women’s Groups, Mortgage Loans, Two-wheeler Loans and Enterprise Loans.
The launch of Fullerton India’s 500th branch reinstates the company’s strategy to strengthen its footprint across the length and breadth of the country. With the addition of this new branch, the total number of rural branches of the company reaches to 276.
Commenting on the development, Mr. Shantanu Mitra, Chief Executive Officer and Managing Director, Fullerton India said, “At Fullerton India, we strongly believe in driving progressive development across the country through financial inclusion. The setting up of our 500th branch is aligned with this goal. We will continue to expand our presence as a leading retail and rural financial solutions provider, by offering a wide range of products and services.”
Fullerton India also has a strong urban presence in the country with 224 urban branches. These branches provide credit products like Personal Loans, Commercial Vehicle Loans, Loans Against Property and SME loans.
Fullerton India recently closed its financials with a strong growth of 43% Profit Before Tax and overall revenue growth of 32%.The company has carved a niche for itself in the financial services sector through an extensive reach, customer base and strong product portfolio backed by analytics. Over the years, Fullerton India has been able to provide reliable, transparent and timely service, thereby building high levels of customer trust and satisfaction.
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, while its AUM stood at Rs.11,508 crores. The company serves over 14 lakh customers through a widespread network of 500 branches spread across 21 states and 3 union territories, reaching out to 600 towns and 48,000 villages in the country. FICCL offers several retail finance products for varying needs of customers ranging from rural households to SMEs, in the locations it serves. Fullerton India is a wholly-owned subsidiary of Fullerton Financial Holdings, Singapore, which is a subsidiary of Temasek Holdings of Singapore.
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