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The Economic Times

Veritas Finance AUM cross Rs 1,000 crore

CHENNAI: Chennai-based NBFC Veritas Finance has announced that its assets under management crossed the Rs 1,000-crore mark in September.

The NBFC focussed on lending to micro, small and medium enterprises in rural and semi-urban areas and has offices in eight states and union territory.

Having commenced operations in October 2015, Veritas Finance has disbursed more than Rs 1,400 crore by the end of September this year.

The current customer base is 40,386 customers with loan book outstanding at Rs 1,048 crore.

Veritas Finance currently operates out of 193 branches in the eight states of Tamil Nadu, Karnataka, West Bengal, Odisha, Madhya Pradesh, Andhra Pradesh, Telangana and Jharkhand, apart from the Union Territory of Puducherry.

During FY 2019-2020, Veritas Finance added 46 branches to take the total number to 193, and commenced operations in Jharkhand.

MD & CEO D Arulmany said loan book of Rs 1000 crore in the first four years of operations was the first milestone.
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