GTF aims Rs 15,000 cr turnover this fiscal
Exim Bank-promoted non-banking financial company Global Trade Finance Ltd (GTF) today said it is targeting an over 100 per cent jump in turnover at Rs 15,000 crore this fiscal.
By PTI |
CHANDIGARH: Exim Bank-promoted non-banking financial company Global Trade Finance Ltd (GTF) today said it is targeting an over 100 per cent jump in turnover at Rs 15,000 crore this fiscal.
"Last year we achieved a turnover of Rs 6,250 crore. We are aiming to grow over 100 per cent in terms of our turnover by the end of this fiscal," GTF Managing Director and CEO Arvind Sonmale said.
The company would also ramp up its presence in several cities including Chandigarh, Ludhiana, Pune, Jaipur, Kochi, Puducherry and Visakhapatnam with plans to open 40 new offices in the fiscal.
"We are looking to expand our operations in tier II and III cities with high growth potential," he said.
GTF at present has eight offices in Mumbai, New Delhi, Bangalore, Hyderabad, Ahmedabad and Kolkata.
Last year, the company has attained a 121 per cent growth in turnover. "This year we have already achieved a turnover of Rs 4,700 crore as on September 30," Sonmale said.
"Our new office here will enable small and medium enterprises in this region to avail trade finance products and services like international and domestic factoring, channel financing and import factoring," he said.
The company's client base includes 62 per cent of SME segment. The company has 78 per cent market share in export factoring.
GTF is promoted by WestLB Germany and IFC Washington, besides Exim Bank. Exim Bank holds a 40 per cent stake in the firm followed by Europe-based FIM Bank (38.5 per cent), IFC Washington (12.5 per cent) and Bank of Maharashtra (9 per cent).
"Last year we achieved a turnover of Rs 6,250 crore. We are aiming to grow over 100 per cent in terms of our turnover by the end of this fiscal," GTF Managing Director and CEO Arvind Sonmale said.
The company would also ramp up its presence in several cities including Chandigarh, Ludhiana, Pune, Jaipur, Kochi, Puducherry and Visakhapatnam with plans to open 40 new offices in the fiscal.
"We are looking to expand our operations in tier II and III cities with high growth potential," he said.
GTF at present has eight offices in Mumbai, New Delhi, Bangalore, Hyderabad, Ahmedabad and Kolkata.
Last year, the company has attained a 121 per cent growth in turnover. "This year we have already achieved a turnover of Rs 4,700 crore as on September 30," Sonmale said.
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"Our new office here will enable small and medium enterprises in this region to avail trade finance products and services like international and domestic factoring, channel financing and import factoring," he said.
The company's client base includes 62 per cent of SME segment. The company has 78 per cent market share in export factoring.
GTF is promoted by WestLB Germany and IFC Washington, besides Exim Bank. Exim Bank holds a 40 per cent stake in the firm followed by Europe-based FIM Bank (38.5 per cent), IFC Washington (12.5 per cent) and Bank of Maharashtra (9 per cent).
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