Fincare Small Finance Bank eyes over 300 branches in a year

Collects Rs 225 cr worth of fixed deposits in 4 weeks; to come up with an IPO after 3 years

With already 26 full-service branches up and running in states like Gujarat, Tamil Nadu, Karnataka and Andhra Pradesh, the new small finance bank (SFB) entrant Fincare is eyeing over 300 outlets in next one year.

Erstwhile Disha Microfin Limited, the Ahmedabad-based Fincare Small Finance Bank Limited formally announced the launch of its banking operations. However, in the last four weeks since a soft launch, Fincare SFB has already lapped up fixed deposits worth Rs 225 crore even as its advances stand at Rs 1,350 crore.

Rajeev Yadav, MD & CEO of Fincare SFB indicated that the bank's offering of fixed