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Utkarsh SFB to open 15-18 new branches in UP by December

Press Trust of India  |  New Delhi 

Utkarsh Small will expand its footprint in by opening 15-18 new branches in the state by December.

Headquartered in Varanasi, Utkarsh SFB started its operations in January this year.

"Utkarsh Small is expanding its reach in the state of UP. The recently inaugurated its new branch in the Mahmoorganj area of the city and is targeting 15-18 new branches in the state by the end of December 2017," Utkarsh said in a release today.

At present, it has three general branches, three micro branches, five retail assets branches and 100 micro branches in 24 districts of

Utkarsh SFB said it will reach to thousands of unbanked people in state's rural areas to boost financial literacy as part of its corporate social responsibility programme.

"We are expanding our presence at our home-ground with these launches. We are planning to launch 15-18 more general branches in UP till December 2017," said Govind Singh, MD&CEO, Utkarsh Small Finance Bank.

Among others, it has presence in Bihar, Jharkhand, Maharashtra, Madhya Pradesh, Chhattisgarh, Delhi-NCR, Uttarakhand, Haryana and Himachal Pradesh.

The overall reach of the SFB is in 110 districts of ten states with over 12 lakh active client base.

The current portfolio outstanding of Utkarsh is over Rs 1,700 crore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, June 17 2017. 18:57 IST