Ujjivan Small Finance Bank (SFB), the wholly-owned subsidiary of Ujjivan Financial Services Ltd, on Friday said it is targeting a deposit base of Rs 2,500 crore in 2017-18.
In a view to serving unbanked people, the small finance bank, which commenced its operation two months ago, plans to open 30 branches soon and 171 by end of this financial year.
"We target to mobilise a deposit base equal to one-third of our portfolio which is around Rs 2,500 crore in the current financial year," bank's MD and CEO Samit Ghosh told reporters here.
He said the bank was adequately capitalised, and will not raise any tier-1 capital in this fiscal year. "We have a capital base of Rs 1,600 crore at present, which is more than enough... We may look at raising tier-2 capital going ahead," he said.
--IANS
bdc/vd
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app