L-R : Mr. Shantanu Mitra, CEO & MD, SMFG India Credit, Mr. YAGI Koji, Consul-General of Japan in Mumbai, with Mr. Abhijeet Bansode, Director of Postal Services (Headquarters) for the Maharashtra Circle, at the release of the Special Cover with My Stamp to commemorate the launch of SMFG India Credit’s 1000th branch in India
Mumbai, Maharashtra – September 3, 2024 – SMFG India Credit, one of India’s leading non-banking financial institutions, proudly announces the opening of its 1000th branch in Vashi, Navi Mumbai, marking a significant milestone in the company’s journey of growth and commitment to financial inclusion. This achievement comes as SMFG India Credit sets its sights on surpassing ₹600 billion in Assets Under Management (AUM) by the end of FY25, reflecting its enduring dedication to serving the underserved and providing financial solutions to various communities across the country.
This momentous occasion is a testament to SMFG India Credit’s relentless pursuit to become the company of choice in financial services and a partner for progress for our customers and other stakeholders. Established in 2007, the company has grown leaps and bounds, establishing a Pan-India presence that caters to customers across 670+ towns and 70,000+ villages through 23,000+ employees.
The expansion of the branch network has been a strategic priority, with around 300 branches added in the past two years, 95% of which are located in Tier-2 cities and rural areas. The launch of the 1000th branch symbolizes not just a physical expansion but also the deepening of SMFG India Credit’s roots in India’s financial ecosystem. It also showcases our commitment to provide formal credit access to people across India and help them in achieving financial independence.
Mr. Shantanu Mitra, CEO & MD of SMFG India Credit, expressed his pride in this achievement, stating, “Opening our 1000th branch is a significant milestone that not only underscores our commitment to the communities we serve but also symbolizes the substantial growth we’ve achieved in our employee count, distribution network, and customer base. Our aim is to expand our reach through our distribution network which will help us to multiply customer relationships and create a life-changing impact on the underbanked communities across the country.
As we aim to surpass ₹600 billion in AUM by FY25, our efforts to serve the communities where we operate have compounded along our journey of scale, driving and fostering economic growth across India. Our journey has been one of continuous evolution, adapting to the needs of our customers and expanding our reach into high-potential Tier 2+ markets. We remain committed to moving ahead with the ‘fulfilled growth’ vision of our parent company SMFG, focusing on sustainable development and inclusive prosperity.”
To commemorate this special occasion, SMFG India Credit partnered with the India Post, to release a Special Cover with My Stamp in association with Department of Post. They were unveiled by Mr. Shantanu Mitra, CEO & MD of SMFG India Credit, Mr. YAGI Koji, Consulate-General of Japan in Mumbai, and Mr. Abhijeet Bansode, Director – Postal Services (HQ) Maharashtra Circle. With the support of its dedicated employees, trusted partners, and loyal customers, SMFG India Credit is confident in its ability to reach new heights and continue making a positive impact on the lives of millions.
