Nimble- Footed Toddler

The three-yearold Fincare Small Finance Bank has emerged as the fastest growing small finance bank (SFB). Bengalurubased Fincare, with balance sheet of ` 7,000 crore, has shown strong growth, which is seen in its three-year CAGR in deposits (128 per cent), loans & advances ( 74 per cent), fee income (111 per cent) and operating profit (125 per cent). One reason could be the small base. “Since inception, the digital paradigm has always been the force multiplier that will enable us to emerge as a best-in- class in the banking landscape in India,” says Rajeev Yadav, Managing Director and CEO, Fincare Small Finance Bank. Fincare SFB was the result of coming together of one NBFC (Future Financial Services) and one MFI (Disha Microfin) in 2014. In a bid to become robust, it is focusing on reducing reliance on bulk deposits and boosting the retail deposit portfolio. Its retail deposits improved significantly to 91.1 per cent by end of December 2020, from 65.3 per cent in the previous year. Its CASA ratio nearly doubled from 10.8 per cent to 19.7 per cent. “We recognise digital as the currency that is going to radically change India’s future, and in particular, banking. With a 3D approach viz digital and delightful rates, we are confident of becoming a force to reckon with,” says Yadav.