Capital Small Finance Bank
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| Company type | Public |
|---|---|
| ISIN | INE646H01017 |
| Industry | Financial services |
| Predecessor | Capital Local Area Bank |
| Founded | 2000, licensed in 2016 |
| Headquarters | , India |
Area served | India |
Key people |
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| Website | www.capitalbank.co.in |
Capital Small Finance Bank (formerly Capital Local Area Bank) is an Indian first small finance bank founded in April 2016, with its headquarters in Jalandhar, India.[3][4][5][6]
History
Founded in 2000, Capital Local Area Bank was primarily operational in some districts of Punjab including Jalandhar, Kapurthala and Hoshiarpur until 2013. After 2013, the bank expanded its operations in Ludhiana and Amritsar. As of June 2016, the bank was operating through its 76 branches.[7]
After providing in principle approval in September 2016, RBI granted the license to Capital Local Area Bank under Section 22(1) of the Banking Regulation Act, 1949 in 2016 and it started to operate from 24 April 2016 under the new brand name of Capital Small Finance Bank as the first Small finance bank of India.[8][9][10][11] On the foundation day, Capital Small Finance Bank opened 10 new branches to the existing 49 branches of Capital Local Area Bank. As in March 2021, the bank have a total 158 operational branches.[5]
In June 2019, the bank raised 430 million fund from Amicus Capital[12] and in November, it raised 84 Crore fund as Oman India Joint Investment Fund bought 10% share of the bank.[13][14]
References
- ^ "Buy Sell Capital Small Finance Bank Limited Unlisted Shares – 3Adeal". 3adeal.com. Retrieved 24 March 2021.
- ^ "Buy Sell Capital Small Finance Bank (SFB) Unlisted Shares – Share Price". 4 February 2019. Retrieved 24 March 2021.
- ^ Gera, Komal Amit (25 April 2016). "India's first small finance bank launched". Business Standard India. Retrieved 24 March 2021.
- ^ Acharya, Namrata (9 August 2016). "Small finance banks to woo depositors with better rates". Business Standard India. Retrieved 24 March 2021.
- ^ a b "Profile – Capital Small Finance Bank". www.capitalbank.co.in. Retrieved 24 March 2021.
- ^ Network, BFSI (8 March 2016). "Capital Local Area Bank to be India's first small area finance bank – BFSI". Retrieved 24 March 2021.
- ^ Sharma, Sahib (7 July 2016). "Capital Small Finance Bank plans 220 branch network in North India by FY 2021". mint. Retrieved 24 March 2021.
- ^ "First small finance bank begins operations". @businessline. 27 April 2016. Retrieved 24 March 2021.
- ^ Bandyopadhyay, Tamal (6 February 2017). "Big challenges before small finance banks". mint. Retrieved 24 March 2021.
- ^ Chakraborty, Somasroy (22 July 2014). "KBS Local Area Bank may become a small bank". Business Standard India. Retrieved 24 March 2021.
- ^ Gregory, Samuel. "Wealth management". Retrieved 17 January 2024.
- ^ Saxena, Ridhima (9 July 2019). "Capital Small Finance Bank raises ₹43 crore from Amicus Capital". mint. Retrieved 24 March 2021.
- ^ Saxena, Ridhima (26 November 2019). "Capital Small Finance Bank raises ₹84 crore from OIJIF". mint. Retrieved 24 March 2021.
- ^ "OIJIF picks up 10% stake in Capital SFB for ₹84 crore". The Hindu Business Line. 26 November 2019. Retrieved 11 June 2022.
