Suryoday Small Finance Bank launches Four New branches in the NCR Region

2024-09-08 05:14:22 Business

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31 July 2024 : Suryoday Small Finance Bank (SSFB), one of the leading new-age digital banks in India, announced the expansion of its presence in the Delhi-NCR region with the launch of four new branches. The four new branches are in Rajouri Garden, Preet Vihar, Janakpuri, and Gurgaon Sector 14. With these branches, SSFB now has 60 employees across six different locations in the Delhi-NCR Region.

This expansion strengthens SSFB's footprint in the country's capital, a region which contributes significantly to the overall banking business with the deposits and advances of this region. SSFB is well-positioned to tap into this potential market and expand its customer base.

The Bank is dedicated to being a Phygital-driven, rural, and semi-urban bank, with a strong focus on priority sectors and retail segments of micro and small enterprises. SSFB's pan-India branch network now stands at 675+ branches, reiterating its commitment to provide accessible and convenient banking services to its customers, regardless of their location.

The Bank has been focusing on expanding its physical presence in key markets, particularly in urban areas, to reach a broader customer base and offer its products and services to a larger population segment.

Speaking on the occasion, Mr. R. Baskar Babu, MD & CEO, Suryoday Small Finance Bank, said, "The launch of our four new branches in the Delhi-NCR Region signifies our commitment to expanding our footprint and making quality banking services available to more customers. We aim to contribute to the development of these markets and establish a strong presence in the region. The Bank has steadily grown its footprint across the Delhi National Capital Region. We are confident that these new branches will cater to the growing needs of our customers. With the expansion of our branches, we are excited to offer our differentiated services to more customers in the capital of India."

He further added, "At SSFB, our core objective is to make banking seamless. We take pride in being a customer-centric organization. Our robust financial performance, coupled with our unwavering commitment to exceptional customer service, positions SSFB for continued growth and a significant role in shaping India's financial landscape."

The Bank is committed to providing affordable and accessible financial services to the people of Delhi-NCR and surrounding areas. The Bank will focus on individual retail customers, retail businesses, and senior citizens, offering diversified product offerings such as savings accounts, current accounts, fixed deposits, home loans, two-wheeler loans, commercial vehicle loans, etc.

SSFB has witnessed growth in all performance parameters on a YoY basis, with retail deposits of Rs 8,137 crore in Q1FY25. The Bank also became the first in the small finance category to introduce all-exclusive women-managed branches—Suryoday Roshni. These branches are exclusively managed by Women staff to address and fulfil the financial needs of the Bank's customers, with a special focus on women clientele. At present, the Suryoday Roshni has a presence across six locations, including Govandi (Mumbai) and K.R. Pete & Ram Mandir (Karnataka), Konisi (Ganjam district in Odisha), Vallioor, and Ganapathy (Tamil Nadu), with more than 50 highly trained staff.

About Suryoday Small Finance Bank

Suryoday Small Finance Bank Limited is a scheduled commercial bank. Commenced its operations as NBFC with a distinct purpose to serve customers in the unbanked and underbanked segments and promote financial inclusion. Pursuant to receipt of the RBI approval, Suryoday Bank started its operations as Small Finance Bank (SFB) on January 23, 2017. Suryoday Bank is among the leading SFBs in India, having an extensive presence with 675+ banking touchpoints across 15 states and UTs. Suryoday Bank offers its customers a wide range of services through its array of asset and liability products and multiple delivery channels. Suryoday Small Finance Bank is listed on the NSE and BSE.