"I would say in the first year may be Rs 2,500 crore gross loan portfolio that is by March 2018," Fincare Small Finance Bank, MD and CEO, Rajeev Yadav told reporters here.
The bank which formally began operations in July last year has set a target of generating total loan portfolio of Rs 10,000 crore and total deposits of Rs 8,600 crore in three years.
"In the first six month of our operations, our gross loan portfolio is Rs 1,800 crore. By this March 2018 we are expecting Rs 2,500 crore (gross loan portfolio). In three years time, our target is Rs 10,000 crore," he said.
Commenting about it, Yadav said, "There cannot be greater an association than smart banking (offered by Fincare) and for the smart moves by Anand which he is known for," he said.
More From This Section
To a query on the business plans, Yadav said the bank has chartered out plans to focus on micro, small medium enterprises segment, offer gold loans and also enter the affordable housing segment.
"In the affordable housing segment, the average ticket size will be Rs 10 lakh," he said to a query.
The bank also had planned to offer insurance products in the life, medical categories.
The bank currently has presence in Gujarat, Maharashtra, Madhya Pradesh, Rajasthan, Karnataka, Tamil Nadu and parts of Andhra Pradesh.
"Even after we expand our presence, the focus will be on doing business in these seven States. You should know more than 30 per cent of our business is contributed from Tamil Nadu followed by Karnataka, Gujarat, Madhya Pradesh," he said.
The account provides a host of features including utility bill payments, fund transfer facility among others.