ICL Fincorp to open 50 branches in Bengal soon as part of eastern India expansion drive

Kolkata: Non-banking financial company ICL Fincorp Ltd has planned to open 50 branches across West Bengal soon as part of its expansion initiative in the eastern region.

The south India-based company, focusing on gold loans, inaugurated its first outlet in Bengal in Kolkata's Chinar Park area.

"We have planned to open 50 branches across Bengal soon. The expansion will include 10 outlets in Kolkata alone, and we will later expand to Jharkhand and Bihar during the current financial year," ICL CMD K G Anilkumar said.

Established in 1991 and headquartered in Irinjalakuda, Kerala, the company operates 300 branches across nine states, offering gold, property and business loans, and investment services.

"With over three decades of experience and our designation as a NIDCC lending partner, we aim to strengthen financial inclusion and economic empowerment in the eastern region," he said, referring to its association with the National Industries Development Council Committee for MSME lending.