HYDERABAD: Kerala-based NBFC player ICL Fincorp on Tuesday announced that it will be opening 25 branches, of which 15 will be in Telangana and rest in Andhra Pradesh, by the end of this year.
“The main objective of this initiative is to tap more customers and increase penetration across Telugu speaking areas,”KG Anil Kumar, managing director and chief executive officer, ICL, said.
He added that the company’s first branch will come up in the Old Alwal area of Secunderabad and the new branches in Hyderabad region will be in AS Rao Nagar, KPHB Colony, Malkajgiri, Dilsukhnagar, Ameerpet, Begumpet, BHEL, Balanagar, Jeedimetla and West Marredpalli.
The company currently has a network of 42 branches across Kerala and Tamil Nadu and plans to open 1,000 additional outlets within the next four years in states such as Odisha, Maharashtra, Karnataka and New Delhi, among others. The company’s total loan disbursal during the last fiscal stood at Rs 100 crore.
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Swati Rathor is a senior correspondent with The Times of India at...
Read MoreSwati Rathor is a senior correspondent with The Times of India at Hyderabad. She has over two years of experience covering a range of corporates and sectors. While not at work, she loves to travel, read and cook.
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