 "ESAF Small Finance Bank")
NRI businessman, billionaire and chairman of Lulu Group MA Yusaff Ali has acquired a 4.99 per cent stake in ESAF Small Finance Bank, headquartered in Thrissur.
He invested around Rs 860 million to acquire the stake. K Paul Thomas, MD and CEO, ESAF Small Finance Bank confirmed the development.
With this investment, he now owns 5 per cent in a Kerala-based bank.
Currently, he owns around 5 per cent shares in Federal Bank, South Indian Bank, Catholic Syrian Bank and Dhanlaxmi Bank.
Ali, who hails from Kerala, is the Chairman and Managing Director of LuLu Group International that owns the
