NEWS & ADVICE : PERSONAL LOAN
Magma Fincorp aims for 50% rise in loan book
By Vaibhav Aggarwal
Aug 9, 2011
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Non banking finance company (NBFC), Magma Fincorp is aiming to see a 50% growth in its loan book in this fiscal. It plans to take its loan disbursal figures to Rs 8000 crores of which Rs 375 crore would be targetted in Kerala.

The total disbursals for the bank for the last fiscal was Rs 5,414 crore, said Vice President Magma Fincorp, Dhrubasish Bhattacharya.

We will continue with our focus on providing asset finance to the economically disenfranchised in Kerala and expect to further grow in the states," he said.

The NBFC currently has 172 branches all over India to which it plans to add 28 more branches in this year.

Mr Bhattacharya said that the company presently has 6 branches in Kerala and will be coming up with the seventh branch in a month's time.

 


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