Fullerton India today announced the launch of its 500th branch. The new branch will be located in Dewas, Madhya Pradesh and will serve customers through an array of rural financing products that include Livelihood Advancement Loans for Women’s Groups, Mortgage Loans, Two-wheeler Loans and Enterprise Loans.
The launch of Fullerton India’s 500th branch reinstates the company’s strategy to strengthen its footprint across the length and breadth of the country. With the addition of this new branch, the total number of rural branches of the company reaches 276.
Commenting on the development, Shantanu Mitra, Chief Executive Officer and Managing Director, Fullerton India said, “At Fullerton India, we strongly believe in driving progressive development across the country through financial inclusion. The setting up of our 500th branch is aligned with this goal. We will continue to expand our presence as a leading retail and rural financial solutions provider, by offering a wide range of products and services.”
Fullerton India also has a strong urban presence in the country with 224 urban branches. These branches provide credit products like Personal Loans, Commercial Vehicle Loans, Loans Against Property and SME loans.
Fullerton India recently closed its financials with a strong growth of 43% Profit Before Tax and overall revenue growth of 32%.