Chennai: Leading non-banking financial services company, Fedbank Financial Services Limited (Fedfina), announced its expansion plan for the next five years and stated that it plans to strengthen its network to 500 branches from the current 140.
The company has set up 25 branches in the current financial year and is looking at adding another 125 new branches in the next 12 months, a release said. The firm has allotted a budget of Rs 100 crore to materialize their expansion goals.
The release further added that Tamilnadu will continue to be a strong focal point for the firm, with several high-performance branches in Chennai and the firm plans to open 25 new branches in the State. Along with its gold loan business, Fedfina is looking at also growing its mortgage, unsecured loans and other loan products in the State.