As part of its efforts to enhance the customer base, the Irinjalakuda Credit and Leasing Company (ICL) has proposed to expand its branch network across the country.
K.G.Anil Kumar, Managing Director, ICL, said that the number of branches in Kerala will be increased to 56 from 20 and in Chennai; the number of branches will touch 10 from the present 4. The company has identified Karnataka, Andhra Pradesh and Telengana as its focus market. At present, the gold loan portfolio is around ₹100 crore which would be raised to ₹5,000 crore by 2020. The recent growth in customer base has prompted the company to enhance the customer base. The employee strength would also be raised to nearly 5000 in the next four years, he added.