Magma Fincorp, India's leading retails finance company today opened its branch office in Malappuram. The new office was inaugurated by Hon'ble M Ummer, Member of Legislative Assembly, Malappuram in the presence of Dhrubashish Bhattacharya, Business Head - South, Magma Fincorp and other dignitaries and company officials.
"Our presence in Malappuram is part of our expansion plans for Kerala which is a growing market for us ever since the company started focusing on South India. We consider Kerala to be one of our key market areas and have already done significant business in this financial year. We currently have over 6000 customers in Kerala and the base is growing fast. Over the past two years in Kerala, Magma has disbursed retail loans worth Rs 250 crore already," said Dhrubashish Bhattacharya during the inauguration.
Magma currently has 5 other branches in Kerala, namely in Cochin, Calicut, Trivundrum, Trissur and Kottayam and employs 89 people. "We expect Malappuram to be a key growth driver for us in Car Loans and Commercial Vehicle Loans", added Nishan Nadarajan, Regional Business Head - Kerala.
Source: Indiaprwire
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