Capital small finance Bank is all ready to set their foot in the market competing against the top banks and NBFCs. The bank recently closed an 84 crore equity capital deal from a mid-market PE i.e. Private Equity firm Oman India Joint Investment Fund (OIJIF), which is a major stakeholder in the Punjab-based Capital small finance Bank holding a share of 9.9%. The bank is also starting to focus on increasing its number of branches and thereby increasing its customer base not only in Punjab but also over the country. With this investment, the bank is all set to break all geographic barriers and increase their loan books.
The bank also received funding from Bengaluru-based PE fund, Amicus Capital Private Equity which gave the bank an investment of Rs.38 crore in June and a gross amount of Rs. 5 crores respectively. Capital small finance Bank thereby raised a total funding of Rs. 134 crore. The bank now holds the top tier on the ranks of banks of Punjab, said by managing director of Capital Small Finance Bank. With the latest investments in hand, the bank is focusing on making a deeper mark in the markets and also establishing their expertise in the states of Haryana, Rajasthan, and NCT Delhi with their eye on MSME loans.
Starting its operations in April 2016, the bank has more than 150 branches offering its customers various services. They usually have been very successful in establishing their identity for affordable loans. Their most popular service is that of personal loans. The bank is offering a low-interest rate and less processing fee, for all their customers. The Capital small finance bank counts HDFC Life, Small Industries Development Bank of India (SIDBI), and ICICI Prudential Life as their investors. With their goals and investors in place, the Capital small finance bank is ready to hit the markets at a speed that is sure to make the bank grow higher.
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