ESAF SFB targets ₹1L/cr by 2030, aims 25% annual growth
Business
ESAF Small Finance Bank has set a big goal: reaching ₹1 lakh crore in total business by 2030, up from ₹50,140 crore now.
K Paul Thomas, Managing Director & CEO, says they're aiming for about 25% growth each year to get there.
The bank also hopes to become a universal bank, but first needs two straight years of profits.
ESAF diversifies loans, cuts Kerala concentration
To hit these targets, ESAF is shifting its focus, growing MSME, agriculture, retail, and gold loans (from 50% to 56% of advances), while microfinance loans drop to just 10%.
They're also working on reducing their heavy Kerala deposit base (currently 71%) by expanding across India with around 820 branches.
Plus, they plan to tap into deposits from non-resident Keralites as part of their funding strategy.