ESAF Small Finance Bankfighting Partiality Of Prosperity
Banking Frontiers|September 2019
Even when it became a banking institution, the operations are focused on rural India and women:
ESAF Small Finance Bankfighting Partiality Of Prosperity

ESAF Small Finance Bank has made a spectacular performance during FY 2019 when it has recorded a 234% increase in its net profits in its second year of operation. The bank recorded a higher interest income and efficient NPA management. Its profit stood at Rs902.8 million during the year against Rs269.9 million in the previous year. It claims higher asset quality and higher interest returns contributed to the growth of bottom lines. And it hopes to reach the 500 mark in its branch network by 2020. At present, it has 275 branches and operates in 12 states.

In fact , the erstwhile ESAF Microfinance, which became a small finance bank, is the first MFI in Kerala to start lending operations. Also it is the first bank in Kerala to get a banking license after the independence. The microfinance company was founded by K. Paul Thomas with the intention of tackling poverty and unemployment of the educated unemployed youths. It started its operations on the lines of Grameen Bank of Bangladesh, which was set up by Nobel laureate Mohammed Yunus. Its commitment is to holistically help communities struggling with basic issues and empower them through skills training, health services and marketing of their craft, to drive their own future.

The bank is looking to raise capital and different plans like share swap and buy back are being discussed to move ahead. Now a scheduled commercial bank, it can broadbase resource mobilization through the issue of certificate of deposits and inter bank borrowings at competitive rates of interest.

Paul Thomas, who is MD and CEO of the bank now, discusses the bank’s achievements and the strategic plans to reach its target.

Paul Thomas explains the measurement system in the bank to quantify the social impact it has made on the lives of its customers

Esta historia es de la edición September 2019 de Banking Frontiers.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición September 2019 de Banking Frontiers.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE BANKING FRONTIERSVer todo
Key Russian central bank official leaves
Banking Frontiers

Key Russian central bank official leaves

The First Deputy Governor of Bank of Russia Olga Skorobogatova is leaving the central bank in early December.

time-read
1 min  |
December 2024
Better prospects for Swiss banking in 2024, says new study
Banking Frontiers

Better prospects for Swiss banking in 2024, says new study

The year could see revitalization of the banking to some extent, finds the study by Swiss Bankers Association:

time-read
3 minutos  |
December 2024
Ease of use, personalization & consistent engagement promotes digital loyalty
Banking Frontiers

Ease of use, personalization & consistent engagement promotes digital loyalty

Murari Lal, Head - Digital Initiatives, Shivalik Small Finance Bank, delves into platforms, loyalty and Al:

time-read
4 minutos  |
December 2024
From Feet on Street to Fingers on Screen
Banking Frontiers

From Feet on Street to Fingers on Screen

Nippon India Mutual Fund is driving into newer customer segments by leveraging voice and vernacular as the drivers, reveals the company's Chief Digital Officer Arpanarghya Saha:

time-read
9 minutos  |
December 2024
Digitization embraces the senior citizens
Banking Frontiers

Digitization embraces the senior citizens

Among other projects, Shriram Capital completely transformed the 2-wheeler loan origination system, reveals the company's Chief Digital Officer Ajay Thomas:

time-read
8 minutos  |
December 2024
Making of the most connected bank in Bangladesh
Banking Frontiers

Making of the most connected bank in Bangladesh

A stream of digital initiatives is transforming Mutual Trust Bank and its customer engagement, reveals Khalid Hossin, who heads the bank's digital banking division:

time-read
7 minutos  |
December 2024
Digital embraces Archaeological Tourism
Banking Frontiers

Digital embraces Archaeological Tourism

Chief Digital Officers are leading tremendous transformation initiatives. Five CDOs reveal their fascinating journey and their ambitious goals:

time-read
4 minutos  |
December 2024
Tech will bridge Advisory and Education
Banking Frontiers

Tech will bridge Advisory and Education

Venkatesh Naidu, CEO, Bajaj Capital Insurance Broking:

time-read
5 minutos  |
December 2024
AI bridges Protection and Prevention
Banking Frontiers

AI bridges Protection and Prevention

Gyanendra Singh, Chief Technology Officer, Aviva India:

time-read
3 minutos  |
December 2024
Bridging Products & Distribution for Rural Markets
Banking Frontiers

Bridging Products & Distribution for Rural Markets

Vikas Mittal, Deputy CEO, and Amit Thapliyal, Chief Technology Officer, Magma HDI General Insurance:

time-read
4 minutos  |
December 2024