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Fincare Small Finance Bank launches its first branch in Coimbatore
Fincare Small Finance Bank (earlier known as Disha Microfin) launched its banking operations in Coimbatore on Wednesday, with the opening of its first branch in the city.
Fincare has branches across 26 districts of Tamil Nadu. The MD and CEO of Fincare SFB, Rajeev Yadav said, “Tamil Nadu is an important market for us. It contributes more than 20% of the total portfolio of the bank. We are excited about entering the Coimbatore market which is a leading industrial hub of the state.” “In the last one year since we launched the bank, Fincare SFB has built a deposit base of more than Rs 1,100 crore from institutional and retail customers and a loan portfolio of more than Rs 2,600 crore,” he addded.
The bank, which is currently expanding its distribution network as part of its ‘rurban’ strategy, offers fixed deposits, savings accounts and current accounts, with interest rates up to 9 per cent per annum on fixed deposits and up to 7 per cent per annum on savings accounts.
All the bank branches are equipped with recyclers, where customers can not only withdraw but also deposit cash into their bank accounts 24x7 and receive immediate credit.
Customers would have access to lockers of three different sizes at competitive rates.
The Coimbatore branch is one of the newest full-service branches opened by the bank, which has a total of 500 banking outlets currently operating across nine states and one Union Territory.