IIFL Finance Announces Significant Expansion in Bihar, Plans to Open 40 New Branches

PATNA – IIFL Finance, a leading non-banking finance company in India, has unveiled ambitious plans to open 40 new branches in Bihar within the next year. The expansion initiative will also lead to the recruitment of over 200 employees, reinforcing IIFL Finance’s commitment to bolstering its presence in the region.

As one of the primary leaders in gold loan financing in Bihar, IIFL Finance currently operates in various cities, small towns, and rural areas, solidifying its position as the second-largest gold loan company in India in terms of assets under management.

Manish Mayank, Business Head, North Zone & West Zone, IIFL Finance Gold Loan, expressed the company’s dedication to reaching every corner of Bihar through the establishment of new branches and the addition of new staff. Mayank stated, “We will be expanding into every nook and corner of Bihar with new branches and new staff. IIFL Finance currently has 40 branches in Bihar, and with the opening of 40 new branches, its branch count here will double to 80.”

Highlighting the services offered, Mayank emphasized, “We provide gold loans, business loans, and other lending products to unbanked and underserved customers. We have big expansion plans in the state, and we are looking at 50 percent growth every year. We remain customer-focused and pioneer digitalization. All our branches operate paperless and provide fast processing of all loan products.”

IIFL Finance serves over 85 lakh customers through its 4,400 branches across India. It holds the distinction of being one of the largest RBI licensed gold loan companies in the country, ensuring gold security and insurance for borrowers. Presently, the company offers Gold Loans at 99 paise per month to customers in Bihar without any hidden charges, supporting entrepreneurs and borrowers in achieving their objectives.

Actress Tamannaah Bhatia, endorsing IIFL Finance’s straightforward approach and transparent dealings, invites individuals to visit the nearest branch and avail loans with ease. The gold loan staff at IIFL Finance is committed to facilitating fast loan processing by understanding customers’ requirements.

IIFL Finance, with assets amounting to Rs 73,066 crore, stands as one of the largest retail-focused non-banking finance companies in India. The company’s gold loan book exhibited robust growth, reaching Rs 23,690 crore at the end of September 30, 2023, reflecting a strong year-on-year growth of 33 percent. IIFL Finance extends its gold loan services to salaried, self-employed, and MSME customers across 1,474 cities/towns in 22 states and 4 union territories in India.