VFS mulls expanding presence to 20 states by 2020

Village Financial Services (VFS), leading micro finance institution of West Bengal, is looking to expand its operations to 20 states over the next three years.

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Village Financial Services (VFS), leading micro finance institution of West Bengal, is looking to expand its operations to 20 states over the next three years.

“Currently, we are operating in eight states and have recently started operations in Uttrakhand, Tripura, Odisha and Sikkim. Over the next six months, VFS plans to further expand its reach to other states in central, north and western regions of the country. The proposed expansion plan is the part of the company’s mission to reach 20 states by 2020,” VFS Managing Director and CEO Kuldip Maity said here today.

It currently operates through 167 branches in eight states with a customer base of more than 2 lakh.

“VFS plans to enter four more states by the end of FY 2016-17, aiming to increase the customer base to close to 3.4 lakh with the total number of 173 branches with loan book of Rs 500 crore by the end of this fiscal,” he said.

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