New Delhi, Nov 22 (KNN) Eyeing at tapping the lending market for the Micro, Small and Medium Enterprises of the state, the ESAF Small Finance Bank is set to begin its operations through its 60th branch in the country.

The new branch of the bank is located in Andheri region of Mumbai.

ESAF bank earlier this year converted itself into a small finance bank after getting the license from the Reserve Bank of India (RBI).

K Paul Thomas, MD and CEO, of the bank in a press interview informed about the new branch. He further said that the bank targets to come up with over 145 branches in total by the end of the present fiscal.

At present the bank has 56 branches in Kerala and 3 in Tamil Nadu.

Thomas further informed that at present over 98 per cent of the loans goes to the micro - finance sector.

Also recently, the bank has started lending to other sectors as well including housing finance, gold loans.

As of September 30, the bank had registered over ₹1,043 crore from 18.43 lakh depositors and given out over ₹2,934 crore to about 12.62 lakh borrowers. (KNN/DA)