SMFG India Credit Launches its 1000th Branch; Commemorates Milestone With Special Cover & My Stamp Release

SMFG India Credit Co. Ltd., a prominent player in India’s Non-Banking Financial Company (NBFC) sector, proudly announces the opening of its 1000th branch, located in Vashi, Navi Mumbai. This landmark event underscores the company’s unwavering commitment to expanding its footprint across the country and bringing financial services to underpenetrated markets. To mark this significant milestone, SMFG India Credit has collaborated with India Post to release a Special Cover& My Stamp. The official unveiling was graced by the presence of Mr. YAGI Koji, Consul-General of Japan in Mumbai, Mr. Abhijeet Bansode, Director - Postal Services (HQ) Maharashtra Circle, alongside Mr. Shantanu Mitra, CEO & MD of SMFG India Credit.

The launch of the 1000th branch is a testament to SMFG India Credit’s strategic vision of deepening its presence within the large and diverse Indian market. Since its inception in 2007, the company has consistently pursued growth, evolving into a Pan-India institution that now operates in over 670 towns and 70,000+ villages, supported by a workforce exceeding 23,000 employees.

Over the past two years, SMFG India Credit has added approximately 300 new branches, with a significant 95% of these branches established in Tier-2+ cities and semi-rural areas. This expansion aligns with the company’s mission to extend formal credit access to diverse populations across India, empowering them to achieve financial independence.

Reflecting on this momentous occasion, Mr. Shantanu Mitra, CEO & MD of SMFG India Credit, stated, “The inauguration of our 1000th branch is a significant milestone that demonstrates our deep commitment to providing formal credit access to people across India and helping them achieve financial independence. As we celebrate this achievement, we are proud to release a Special Cover with My Stamp in association with Department of Post, symbolising the significance of the growth achieved by the company so far and the contributions to India’s financial services sector. Our journey has been one of continuous evolution, adapting to the changing needs of our customers while staying true to our mission of enabling access to financial services to all and achieving fulfilled growth”

This milestone not only highlights the success of the company’s growth strategy but also reaffirms its role as a vital contributor to India’s financial services sector. With the inauguration of the 1000th branch, SMFG India Credit sets the stage for further achievements in its pursuit of becoming the financial partner of choice for every Indian.

About SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.)

SMICC is registered as an NBFC - Investment and Credit Company (NBFC-ICC) with the Reserve Bank of India and is a wholly owned subsidiary of SMFG. SMICC started its India operations in 2007 and has established a pan India presence, across 670+ towns and 70,000+ villages through 820+ branches and 20,000+ employees offering lending products to underserved & unserved retail and small business borrowers. By doing so, it has introduced people to formal credit. SMICC’s primary services constitute financing of SME for working capital and growth, loans for commercial vehicles and two-wheelers, home improvement loans, loans against property, loans against shares, personal loans, loans for rural livelihood advancement and financing of various rural micro enterprises.

About SMFG India Home Finance Co. Ltd. (Formerly Fullerton India Home Finance Co. Ltd.)

SMFG Grihashakti is a wholly owned subsidiary of SMFG India Credit. SMFG Grihashakti offers housing loans to salaried and self-employed individuals along with finance to mid-tier developers. Launched in December 2015 and with its corporate office in Mumbai, SMFG Grihashakti caters to housing finance needs in the affordable housing spaces across India, operating in 175+ locations with over 3000+ employees, having served over 56,000+ customers till date.

About Sumitomo Mitsui Financial Group (SMFG)

SMFG is one of the largest global banking and financial service groups, offering a diverse range of financial services including commercial banking, leasing, securities and consumer finance and is headquartered in Japan. SMFG is listed on the Tokyo and New York (via ADR) Stock Exchanges and has a market capitalization of approximately US$77.5 billion (as of 29th March 2024). SMFG is one of the global systemically important banks (G-SIBs) and has high credit ratings of A1 by Moody’s Investors Service and A- by Standard & Poor’s.