Satin Creditcare Network to expand further in South

The company has extended loans of Rs 360 crore to women SHGs in the last two years in South, which is four per cent of national lending, and is witnessing a growth trajectory over the period, Thangaraju said. He was here to open a regional office covering the western districts of Tamil Nadu. Satin has 1,255 branches across the country with 40 lakh clients in 84,000 villages in 23 states and union territories, he said.

Coimbatore, Dec 4 (PTI): Satin Creditcare Network Ltd, a microfinance institution, plans to expand its presence in the South in the near future, a top company official said on Friday. As part of the expansion, Satin has opened four branches in the Coimbatore and Tirupur districts of Tamil Nadu in the last 10 days and many more branches are expected after carrying out a survey of localities in another three months, Satin Chief Operating Officer (South) K Thangaraju told reporters here.

Stating that there are 84 branches in the South - 53 in Tamil Nadu and 31 in Karnataka - at present, he said the presence would be seen in other states shortly. The company has extended loans of Rs 360 crore to women SHGs in the last two years in the South, which is four percent of national lending, and is witnessing a growth trajectory over the period, Thangaraju said.

He was here to open a regional office covering the western districts of Tamil Nadu. Satin has 1,255 branches across the country with 40 lakh clients in 84,000 villages in 23 states and union territories, he said.