9 June 2008

Ujjivan Soars Past 50 Branch Milestone

This month, Ujjivan soared past the 50 branch milestone, with a total of 62 branches now operating nationwide. The 50th branch opened was the Habra branch in our East region. Ujjivan plans to open over 120 branches nationwide by the end of this fiscal year. The long term goal is to open 500 branches nationwide, reaching over 2 million customers.

In addition to the Habra branch, locations were opened in Bally and Shyamnagar (also East), Ghaziabad, Trilokpuri, and Wazirpur (North), Chitradurga, Hubli, Dharwad, North and South Davangeri, Tirupathur, and Tumkur (South).

“This rapid growth shows that Ujjivan now has its foothold in the microfinance business” Says Mr. Premkumar, Administrative Manager in the head office. “It's also remarkable that our 50th branch to open was in Kolkata, an area that has intense competition among MFI's.”

Another notable branch opening this month was the Gaziabad branch in the North Region. This marks Ujjivan’s expansion into the northern NCR region.

Samit Ghosh and Elaine Ghosh during the Ribbon Cutting Ceremony at Hubli Branch.

Mr.Ghosh at the Dharwad Branch Opening Ceremony.

Santhosh Roy, COO of Kolkata region inaugurating the Bally Branch.

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