Ujjivan SFB starts operations in Hoskote

Ujjivan Small Finance Bank, a wholly owned subsidiary of Ujjivan Financial Services, on Wednesday announced the commencement of its banking operations in Hoskote with the launch of one branch.

The SFB had commenced its banking operations in February this year with pilot branches in Bengaluru.

Today, with 46 branches, Ujjivan SFB has established its presence across Karnataka, Maharashtra, New Delhi, West Bengal, Tamil Nadu, Himachal Pradesh and Haryana.

Ujjivan has presence across 15 districts in Karnataka with 62 branches, catering to over 5.2 lakh customers. Over the past three years, Ujjivan’s microfinance branch in Hoskote has catered to over 10,000 customers. The existing Ujjivan customers would be on-boarded as bank customers.

The process of on-boarding close to 2,000 microfinance customers has already been initiated, while the transition for the rest will take place in a phased manner.

Samit Ghosh, MD and CEO, Ujjivan Small Finance Bank, said, “In less than four months of our bank launch, we have established our presence across all four regions — South, North, East and West India. In the coming months, we will continue to increase our banking footprint across the country to serve the target customer segments.”