Fullerton India Credit Company Limited

Fullerton India Credit Co. Ltd. is a non - banking financial company in India. It is headquartered at Mumbai, India and deals with financing across retail and rural segments. The company provides unsecured as well as secured lending products through a diverse branch network[2] as well as via digital channels[3] to individuals and MSMEs.  

Fullerton India Credit Company Limited (FICCL)
TypePrivate Company
IndustryFinancial Services
HeadquartersMumbai Maharashtra, India
Key people
Rajashree Nambiar (CEO)
ProductsPersonal Loans, Business Loans, Loan Against Property, Loan Against Securities, Commercial Vehicle Loans, Two Wheeler Loans, Rural finance
ParentFullerton Financial Holdings Pte. Ltd., a wholly owned subsidiary of Temasek Holdings Pte. Ltd., Singapore[1]
Websitewww.fullertonindia.com

Overview

Fullerton India Credit Co. Ltd. largely deals with unsecured lending products such as personal loans, unsecured business loans, group loans and so on across retail and rural segments. Over the years, the company has established 628 branches spread across India, serving over 2.8 million customers.

History

Fullerton India Credit Company Ltd. was established in January 2007. It is a wholly owned subsidiary of Fullerton Financial Holdings, Singapore which has investments in 8 operating entities, all in Banking and Financial Services across 7 countries.[4] Among the larger subsidiaries of FFH are PT Bank Danamon (Indonesia), Dunia Finance (UAE) and Alliance Financial Group (Malaysia), apart from Fullerton India Fullerton Financial Holdings, is in turn, 100% held by Temasek, Singapore - an investment company owned by Government of Singapore with an autonomous independent board.[5] In 2016, the company launched its housing finance company Fullerton India Home Finance Company Limited (FIHFC), also known as Grihashakti.[6]

Management
  • Rajashree Nambiar - CEO & Managing Director[7]
  • Anil Noronha - Executive Vice President & Head - Human Resources
  • Ekhlaque Bari - Executive Vice President & Chief Technology Officer[8]
  • Pankaj Malik – Executive Vice President & Chief Financial Officer
  • Rakesh Makkar – Chief Executive Officer of Grihashakti, Fullerton India Home Finance Company Limited[9]

Businesses

Fullerton India Credit Company Ltd. deals with financing across segments over a variety of distribution channels.

Urban financing

Offers secured as well as unsecured lending across Metro, Tier 1 – 4 cities through its branch network. The unsecured business covers products such as personal loans, two wheeler loans and small business loans, while the secured business covers products such as loan against property to individual as well as SME customers, loan against securities, commercial vehicle loans and so on.

Rural financing

Fullerton India covers more than 600 towns and 58,000 villages in rural India. It offers rural customers lines of credit for personal as well as livelihood purposes such as purchase of merchandise, livestock, etc. 

Digital Business

Fullerton India recently launched its digital business in 2018. This channel focuses on digital technologies such as an online web portal, mobile applications and tablets. It also focuses on strategic partnerships with fintech companies and aggregators such as Paytm[10] to derive symbiotic benefits and services.

Fullerton India Home Finance Company Limited (FIHFC)

Fullerton India Home Finance Ltd or “Grihashakti” is a wholly owned subsidiary of Fullerton India Credit Co. Ltd. This company focuses on providing financing to householders across India, including sale of new / old residential property, commercial property purchase or leasing, balance transfers and so on. Launched in December 2015[11] and head-quartered in Mumbai, the company with its 82 branches offers loans to salaried and self-employed individuals and organisations.

References
  1. "Fullerton India Q3 net up 78% at Rs86 crore". 27 January 2015. Retrieved 12 February 2019.
  2. "Fullerton India plans to raise Rs 120 bn in FY'19, open over 400 branches". Business Standard India. Press Trust of India. 2018-09-23. Retrieved 2019-08-08.
  3. "ETMONEY partners with Fullerton India to offer personal loans up to Rs 20 lakh". The Economic Times. 2018-12-20. Retrieved 2019-08-08.
  4. Das, Saikat (2019-08-12). "Fullerton India Credit aims to raise $250-300 million via offshore loan". The Economic Times. Retrieved 2019-08-20.
  5. "Fullerton India Overview". Retrieved 12 February 2019.
  6. "Fullerton India launches housing finance company". 3 February 2016. Retrieved 12 February 2019.
  7. "domain-b.com : Rajashree Nambiar appointed new CEO, MD of Fullerton India". www.domain-b.com. Retrieved 2019-08-08.
  8. www.ETCIO.com. "Ekhlaque Bari joins Fullerton India as EVP, CTO - ET CIO". ETCIO.com. Retrieved 2019-08-08.
  9. "The Leadership Team at Fullerton India". Retrieved 12 February 2019.
  10. "Fullerton India partners with Paytm to enable EMI payments". Moneycontrol. Retrieved 2019-08-20.
  11. "Fullerton India launches housing finance company: Grihashakti". www.indiainfoline.com. Retrieved 2019-08-20.
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