Strong focus on Rural and Secured Loans drives growth for Fullerton India

Fullerton India Credit Company Limited today announced their un-audited results for the third quarter ended December 31, 2013.
The company reported a strong Q3FY2014 financial performance with a Profit After Tax (PAT) of Rs. 48 Crores, recording a 47% growth over the same period last year. Revenues from the business touched Rs.362 Crores, representing an 18% growth over the same quarter last year. Assets under management grew by 29% to Rs.5908 Crores during this period compared to same period last year.
Q3 FY14 saw a significant increase in loan disbursals to Rs.1195 Crores compared to Rs.955 Crores last year during the same period. Growth was driven primarily through expansion in the rural business and in secured products. Rural business represented 31% and secured loans in the urban business constituted 37% of the total disbursals in the quarter.
The company is well capitalised with a Capital Adequacy Ratio of 21.98%. Fullerton India has over 5900 employees and nearly 50% of the workforce is dedicated to serving the rural business with a strong network of 370 branches.

Commenting on the results, Shantanu Mitra, CEO & MD said, “Fullerton India has had yet another strong quarter exhibiting robust performance amidst a challenging economic environment. The quality of our assets continue to be healthy and we remain on strategy to grow secured assets.

We expect healthy portfolio growth from overall productivity improvements and branch expansion mainly concentrated in the rural areas. We will continue to invest significantly in our network infrastructure and aim to deliver high quality service to our customers.”

Fullerton India’s customer base of nearly a million customers are spread across large towns and cities as well as rural markets, range from MSMEs to salaried and self-employed individuals to rural households.  Fullerton India has a wide presence in the Tier 3 & 4 towns across 20 states. Its products include Mortgage loans, SME and Business loans, Commercial Vehicle and Two-wheeler loans, Personal loans, Rural Livelihood loans, Rural Mortgage and Housing Finance. Operating its rural financial services business under the Gramshakti brand, Fullerton India has expanded its presence to 7 states with 150 Gramshakti rural branches, covering over 30,000 small towns and villages.

Fullerton India’s business model has been recognised in various forums and has won several accolades including a gold award for ‘Last Mile Distribution & Channel Development Initiative of the Year' at the RMAI Flame Awards 2014, the Financial Inclusion and Payment System Award (Oct ’13) for its innovative handheld biometric device and InformationWeek’s Edge Award (Oct ’13) for Cloud Computing.  A socially responsible organisation, Fullerton India has a robust CSR programme that focuses on rural livelihood advancement initiatives has made a tremendous impact in the catchments it serves. In the previous quarter, the company conducted over 230 programs benefitting more than 6500 rural households providing livelihood opportunities.  .

Fullerton India Credit Company Limited is a wholly owned subsidiary of Fullerton Financial Holdings, Singapore, which is a subsidiary of Temasek Holdings of Singapore

Fullerton India Bags Awards for Rural Development & Sustainable Leadership at the Esteemed Asia Leadership Awards 13’

Fullerton India Credit Company Limited, a leading Non-Banking Finance Company in India, has been conferred the CSR Award for Rural Development and Sustainable Leadership at the Asian Leadership Awards, held in Dubai on 24th September 13’. The award was bestowed, recognising Fullerton India’s Rural Livelihood Advancement initiative and its large impact on rural households across India. The event attracts Asia’s leading business visionaries across all industry sectors, and honours their achievements in contributing towards the region’s economic development.



Fullerton India has won a string of awards for its CSR initiatives across various platforms and has a rich history of rural development initiatives initiated across India. Adding another feather in its cap with this esteemed win, the company continues to reinforce its commitment towards social and economic development.



Enthused over winning the Sustainable Leadership award, Mr Ravi Shankar, Executive Vice President Marketing & Rural Business stated, “It is indeed a great honour to receive this award. Among all the things I have done in my career, this Livelihood Advancement initiative that I have been involved in at Fullerton India, has been the most satisfying. It gives me immense happiness to know that I have been able to build a sustainable model with my team to make a sustainable impact on the lives of rural households. The Livelihood Advancement programme of Fullerton India continues to change the quality of lives of people helping them to create more sustainable livelihoods.”



As part of its Livelihood Advancement Initiative, Fullerton India conceptualises various Livelihood Programs with Partner organisations across various disciplines, thus bringing together Partner organisations like the Government, NGOs, Socio-Economic development organisations, Manufacturing and Trading organisations in the Private sector to implement the programs. Through these programs new and alternative vocational training is provided to men and women in villages across their Rural branch catchments. This helps households adopt vocations besides their existing livelihoods, thus enhancing their incomes and their standard of living.



About Fullerton India Credit Company Limited

Fullerton India Credit Company Limited is one of India’s leading Non-Banking Finance Companies (NBFC). It has over 360 branches spread across 20 states in urban and rural centres. It offers several retail finance products for varying needs of customers ranging from rural households to SMEs, in the locations it serves. Fullerton India has a widespread reach in Rural India through its network of 147 rural business branches called Gramshakti, which service over 20,000 villages. Fullerton India is a wholly-owned subsidiary of Fullerton Financial Holdings, Singapore, which is a subsidiary of Temasek Holdings of Singapore.