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Irinjalakuda credits and leasing company (ICL) expands its footprint to Tamil Nadu.

Tamil Nadu, Feb. 16 -- Irinjalakuda Credit and Leasing Company Ltd. (ICL), one of the leading financial services providing company, have further strengthened their presence in Tamil Nadu by launching additional 6 branches in Chennai. The company already has 4 branches in Chennai apart from the above. ICL now has a state-wide network of 24 branches across Kerala and Tamil Nadu and plans to expand its portfolio from 24 to 66 branches in the current financial year and 100 more branches next financial year in Chennai, Kerala and many other states.

The main objective of this initiative is to tap more customers and increase its penetration across southern market. With this launch, ICL Chennai would be attaining the target of 10 branches by end of this month from the current 4 branches. The company plans to expand its portfolio in Kerala from 20 to 56 branches.

Currently, ICL offices would be located in the following areas including the new branches:




*T Nagar


*Anna Nagar


*K K Nagar

*Jafferghanpet and


All ICL branches will have a strong team with dynamic and knowledgeable professionals, sales managers and financial planning advisors. The office strength is that of 150 employees.

Commenting on the expansion plans, Mr. K G Anilkumar, MD & CEO, said, "We are glad to announce our expansion plans in Chennai. With these new branches, ICL would further strengthen its presence not only in Kerala but also in Tamil Nadu. Our focus has always been on providing risk protection with diverse product portfolio to meet customer requirements, it is evident that we are setting benchmarks in the marketplace and our vision to become India's most preferred and trusted financial institution".

He added, "In the fast-paced world offering a wide range of products under one roof has become the need of the hour. To address the same, ICL has designed a variety of unique schemes as per the market trends which will help us to retain our client base and reinforce our commitment of driving success for them".

The gold loan portfolio of the company currently stands about Rs.1.00 crore and expected to reach around Rs.5,000 crore with 1000 branches by 2020. Apart from Kerala and Tamil Nadu, ICL would be gradually focusing on other markets such as Karnataka, Andhra Pradesh and Telangana region. Keeping the growing needs and the strong customer base in mind, ICL plans to expand its portfolio at a national level and would be expecting around Rs.5,000 crore business from these 1000 branches. ICL is expected to employs around 5000 employees by 2020

Published by HT Syndication with permission from India PRwire.

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Publication:India PRwire
Geographic Code:9INDI
Date:Feb 16, 2016
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