This is the 28th investment for Creador
(10th in India), a private equity firm focused on long-term investments in growth-oriented businesses in South East Asia and India.
Ujjivan is the holding company of Ujjivan Small Finance Bank, which is focused on providing loans and savings products to the unserved and underserved population.
Incorporated in 2004, Ujjivan today serves 3.7 million customers through its network of 445 branches across 24 states and Union Territories.
firm said that Ujjivan has demonstrated a strong financial track record, with its assets under management growing by nine times between 2012 and 2017 to Rs 6,400 crore, and with its return on assets and return on equity averaging at three per cent and 15 per cent, respectively.
In 2015, Ujjivan received an in-principle approval to convert into a small finance bank, which enables it to provide both credit and savings products to its clients.
After the launch of its banking operations in February 2017, it has completed its initial transformation of systems and processes and has already rolled out over 100 banking branches. Over the next 2 years, it is expected to convert its entire network of 445 branches into full-service banking branches.