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K. Paul Thomas bags 'FE Pillar of the BFSI Industry' Award
[June 23, 2022]

K. Paul Thomas bags 'FE Pillar of the BFSI Industry' Award

KOCHI, India, June 23, 2022 /PRNewswire/ -- K. Paul Thomas, MD and CEO of ESAF Small Finance Bank has bagged the 'FE Pillar of the BFSI Industry' award at the FE Modern BFSI Summit held in Mumbai. The award was conferred for his exemplary contribution to the Banking, Financial Services and Insurance (BFSI) sector that has inspired many and helped to ensure resilience and innovation. 

"I'm honoured to receive this prestigious award in recognition of the performance delivered by the bank over these years. The bank has clocked its highest ever total business of Rs 25,019 crore during the last fiscal," said K. Paul Thomas.

"ESAF has always been lending support to small entrepreneurs and self-help groups for empowering the common people. ESAF has also set up schools and hospitals for rural communities. Besides the success of the business, social commitment makes us more satisied. 32 per cent of our branches are located in unbanked rural areas. We are on a journey of fulfilling our vision of reducing social inequality in the society," he added. 

The award was handed over by Shyamal Majumdar, the editor of Financial Express. Various sessions and panel discussions on the BFSI sector were also held during the event. RBI Governor Shaktikanta Das inaugurated the summit. Dr. V. Anantha Nageswaran, Chief Economic Advisor, Govt. of India, delivered the keynote address and heads of India's leading banks and financial institutions also spoke at the day-long event. The summit was a grand congregation of over 50 speakers which featured over 10 power-packed panel discussions and over 500 delegates from the BFSI industry.

About the ESAF Bank:

ESAF Small Finance Bank, Kerala's first small finance bank, started its microfinancing operations in 1995. Founded by K. Paul Thomas, the Thrissur-based bank is a pioneer in developing a formal and structured form of lending at the village level by forming mutually trusted groups. In 2017, it became a small finance bank with the RBI license, becoming the first bank to get licensed post-independence in Kerala. ESAF was successful in fostering a culture of financial discipline and also encouraged women to become financially stable to support their households in the remote and unbanked/underbanked regions of the country. With their consistent growth and inevitable presence in the market along with good customer relations, the bank has become exceptional, covering vast domains with their outlets and ATMs. 

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