Headquartered in Varanasi, Utkarsh SFB started its operations in January this year.
"Utkarsh Small Finance Bank is expanding its reach in the state of UP. The bank 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 banking branches, three micro banking branches, five retail assets branches and 100 micro finance branches in 24 districts of Uttar Pradesh.
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 banking 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.)