RBL-backed Utkarsh Small Finance Bank has its unlisted shares available on the Minance Private Market.
Established in 2009 in Varanasi, the bank works on its mission to provide banking services in an affordable & accessible manner.
The bank is wholly-owned by Utkarsh Coreinvest Ltd (Utkarsh Micro Finance Ltd), with CDC Group Plc, one of the UK government’s development finance institutions as its largest shareholder with 14% stake.
Other shareholders of USFC Bank include Faering Capital and RBL Bank, holding 9.9% stake each. It also has several other shareholders such as International Finance Corporation, the Norwegian Microfinance Initiative AS, Swiss development financier responsAbility Investments AG.
To bring about a socio-economic change with its process-centric, technology-enabled and people-oriented services which result in its establishment as a reliable, scalable and sustainable institution.
The bank’s vision is “To be the trusted financial service provider to over 10 million customers by 2021.” which makes these unlisted shares worth the time and investment.
The objective of Utkarsh Small Finance Bank is to ‘Ummeed’ – striking hope to customers for fulfilling their dreams and needs by attaining to simple financial services offered by the bank.
Utkarsh Bank disbursed its first loan in September 2009 under JLG Model and has been on a growth streak since then. Ten years later, the bank has extended its services to over 112 Districts in 11 States, making its unlisted shares more valuable. It has served over 15 Lakh customers nationwide by running its operations from almost 400 Banking Outlets.
The bank initially had a 6.3 crore gross Loan portfolio, which reached to $3,210.1 crores in 2018. It has won several awards over the years, including the Skoch (Gold) -2016 Award for Inclusive Insurance, CIMSME’s MSME Banking Excellence Award, the Microfinance India Organisation of the Year (Small and Medium Category) Award in 2011, along with the Mine Media Excellence Award 2019 (Excellence Award), commendable achievements for a small finance bank with unlisted shares.