Fino Payments Bank goes live with 410 branches

Mumbai, Jul 17 :  Fino Payments Bank today announced the launch of its operations with 410 branches going live across 14 states. The Bank was formally launched at an event by Ms Chanda Kochhar, MD & CEO, ICICI Bank and Mr D Rajkumar, CMD, Bharat Petroleum Corporation Limited in the presence of Prof MK Chouhan, Chairman, Fino Payments Bank in esteemed company of reputed professionals from the BFSI sector. Speaking at the launch Mr Rishi Gupta, MD & CEO, Fino Payments Bank said, 'Payments bank licence couldn’t have come at a more opportune time for us when the digital payments and banking ecosystem is in place. We intend to make banking simple and convenient to millions of hardworking Indians through a mix of physical and digital platforms. As ingrained in our DNA, we will strategically leverage technology and partnerships to create a banking experience that is easy and everywhere for everyone.' On the future plans for the Bank, Mr Gupta said, 'We plan to acquire 3-4 million customers in the first year with the aim of increasing it to 50-million with a deposit base of Rs. 100-billion in five years. We plan to build a network of over 100,000 points and 1,000 plus branches. We aim to become the first profitable payments bank following a multi-product, multi-platform and partnership strategy that adds tremendous value to our customers.' UNI