Ambit Finvest Pvt. Ltd., which started with just 20 branches in FY19, has plans to expand its branch network to 100 by the end of the fiscal year. The company is betting big on the MSME lending business evinced by the fact that its MSME loan portfolio has grown at a CAGR of around 62% over the last three and a half years.
Vikrant Narang, Deputy CEO at Ambit Finvest, adds details: “We are executing a well-planned operational and tactical strategies to aid our expansion plans. As a first step, we are expanding our distribution network based on carefully curated market intelligence, empowering credit managers at the lower end of the spectrum and strengthening our processes and systems by embracing new age technology.”
Interestingly, Ambit Finvest ’s transformation journey began in the year 2017 after Narang joined the organization. “While we were building a structured corporate lending book and we wanted to scale and granularize our business.”
GOING GRANULAR
Ambit decided to look beyond the traditional B2B business model and tap opportunities in the MSME segment, with a B2C business case. “Since it was a new business model, we were apprehensive. But the acquisition of Finmax Credit and Finance Pvt. Ltd. and Sanjay Agarwal’s addition to the team in 2018, provided us with the impetus to jog ahead.”
The acquisition increased Ambit’s people strength by 150 and added a portfolio of ₹2 billion to its books; with an average ticket size of close to ₹5 million. The 2018 liquidity crunch triggered by credit default by a large NBFC strengthened the company’s resolve to build a strong MSME portfolio.
Esta historia es de la edición September 2022 de Banking Frontiers.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición September 2022 de Banking Frontiers.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
Kamdhenu & Sammrudhi loans top rural customers
Unnayan Bharat Finance Corporation (UBFC) Director & Co-Founder Avneesh Trivedi shares the company's attempts to enhance the rural lending environment & deliver better services to its consumers:
It's going to be a 'world' of CBDCs
Practically, every central bank in the world is testing and readying a CBDC system:
Training for behavioral & social skills is key
3 CHROs from the top BFSI companies in India open up about their training and motivation programs aimed at enhancing employee effectiveness. The story is divided into 4 parts: (i) functional and behavioral training, (ii) manager to leadership training, (iii) learning-based training, (iv) motivational programs:
THE AI COMPASS
Artificial Intelligence has risen to be the hottest topic of discussion today. It is expected to impact everyone, and the impact could exceed that of war, global warming, supply chain disruptions, geopolitics, and much more.
To mentor & coach emerging leaders
Manish Shah, MD & CEO of Godrej Capital, outlines his focus areas today and in the future:
Innovation will unlock India's Mission 'Atmanirbhar’
Sunita Handa is Chairman, Toyota FSIN and Principal Advisor & TLAB Chairman, Protectt.ai Labs. She shares her current activities and her deep insights on innovaiton in an interaction with Manoj Agrawal:
Algorithm is the Boss
Irem Sayeed, Chief Credit Officer at U GRO Capital, dwells into business focus and modernization at the lender:
Fintech and Neobank under the same Umbrella
It was started in 1902 to build what came to be called Israel:
Bajaj Allianz Revolutionizes Employee's HR and IT Experience with WhatsApp, MS Teams, Al and Automation
A productivity booster shot at BALIC:
Small Beginning for a Big Opportunity
AMU Leasing's focus on serving the underserved market of individuals and fleets looking for financing for electric 3-wheelers and 2-wheelers: