Saturday, 29 April 2017

Ujjivan Small Finance Bank aims Rs 2,500 cr deposits in 2017-18

Ujjivan Small Finance Bank (SFB), the wholly-owned subsidiary of Ujjivan Financial Services Ltd, on Friday said it is targeting a deposit base of Rs 2,500 crore in 2017-18. In a view to serving unbanked people, the small finance bank, which commenced its operation two months ago, plans to open 30 branches soon and 171 by end of this financial year. "We target to mobilise a deposit base equal to one-third of our portfolio which is around Rs 2,500 crore in the current financial year," bank's MD and CEO Samit Ghosh told reporters here. He said the bank was adequately capitalised, and will not raise any tier-1 capital in this fiscal year. "We have a capital base of Rs 1,600 crore at present, which is more than enough... We may look at raising tier-2 capital going ahead,".

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