SFBs hope to give large private banks a run for their money: BFSI panelists

When we started five years ago, we thought it would be a marathon but it has turned out to be a steeplechase: Samit Ghosh

Heads of small finance banks (SFBs) on Wednesday exuded confidence of strong growth on the back of product diversification, network expansion and lower costs.

“When we started five years ago, we thought it would be a marathon but it has turned out to be a steeplechase,” said Samit Ghosh, founder, Ujjivan SFB. Despite suffering twin shocks of demonetisation and Covid, Ujjivan SFB has seen an increase in its book size from Rs 7,000 crore in 2017 to Rs 21,000 crore. This fiscal year, Ujjivan SFB has made a record profit of around Rs 500 crore in the first two quarters. “We hope