ESAF

Thrissur, India Founded: 1992 • Age: 34 yrs Listed
Microfinance banking services are offered in India by ESAF.
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About ESAF

ESAF is a publicly listed company based in Thrissur (India) founded in 1992. Microfinance banking services are offered in India by ESAF. ESAF has raised $101.74 million across 5 funding rounds from investors including ICICI Lombard, Muthoot Finance and Bajaj Allianz General Insurance. The company has 12,520 employees. ESAF was last valued at $460.76 million in March 2021. Its chief executive, as recorded, is Kadambelil Paul Thomas. Its website esafbank.com draws about 73 thousand monthly visits. Its Indian entity Esaf Small Finance Bank Limited reported revenue of ₹3,322 Cr. ESAF offers products and services including Savings Account, Current Account, Fixed Deposit, and Loans. Its focus areas include Banks, Special Purpose Banks, Microfinance Banks and Microfinance. Its competitors include Ujjivan Small Finance Bank, Jana Small Finance Bank and AU Small Finance Bank; 3 of its 3 listed competitors have raised funding.

Company details

ESAF was founded in 1992 in Thrissur, India, and operates as a microfinance institution focused on banking services for underserved communities. Loans, savings accounts, and financial inclusion programs are provided through its network across rural and semi-urban areas. Leadership is held by Kadambelil Paul Thomas as CEO and Managing Director, alongside Mareena Paul as Managing Director. The company functions within the financial services sector, emphasizing accessible credit solutions.

  • Headquarters Thrissur, India
  • Employees 12,520
  • Stage Public
  • Sectors
    Financial Services
  • Website category Jobs and Career · Jobs and Employment
  • Email
    ••••••••
  • Phone
    •••• ••••
  • Website esafbank.com
  • Social LinkedIn X Facebook Instagram YouTube
  • Legal Name Esaf Small Finance Bank Limited
Operational Areas
Financial Services → Microfinance
Financial Services → Banks
Key Metrics
  • Market Cap
    ₹2,327 Cr

    ESAFSFB · NSE

  • Revenue
    ₹2,511 Cr

    FY 2025-26 · -0.3% YoY

  • Net Profit
    −₹166 Cr

    FY 2025-26 · +68.1% YoY

  • P/E (TTM)
    8.3x

    P/B 1.1x

  • ROE
    -8.9%

    as on 12 Nov 2026

  • Total Equity Funding
    $101.74M (USD)

    in 5 rounds

  • Latest Funding Round
    $22.22M (USD), Series C

    Mar 2021

  • Investors
    ICICI Lombard

    & 107 more

  • Employee Count
    12,520

Products & Services of ESAF

ESAF offers a comprehensive portfolio of products and services, including Savings Account, Current Account, Fixed Deposit, and Loans.

Savings Account
Banking

Account for depositing and earning interest on savings.

Current Account
Banking

Account for business transactions and daily banking needs.

Fixed Deposit
Deposits

Investment option for fixed-term deposits with guaranteed returns.

Loans
Lending

Financial products for personal and business borrowing requirements.

Apps and channels of ESAF

ESAF publishes 2 mobile apps with over 1M+ downloads.

ESAF Bank
Google Play Finance Everyone Free
Developer: ESAF Small Finance Bank Ltd
View on Google Play
ESAF Bank
App Store Finance 4+
Developer: ESAF Small Finance Bank Limited
View on App Store

Funding Insights of ESAF

ESAF has successfully raised a total of $101.74M across 5 strategic funding rounds. The most recent funding activity was a Series C round of $22.22 million completed in March 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.

  • Total Funding $101.74M
  • Total Rounds 5
  • Last Round Series C — $22.22M
  • First Round $2.75M

    (Jun 2009)

  • Investors Count 108

All 5 funding rounds of ESAF with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.

DateAmountTransaction NameValuationLead InvestorsInvestors
Mar 2021$22.22MSeries C$460.76MGeorge Maramkandathil
ESAF Co-Operative, Yusuffali Musaliam Veettil Abdul Kader
Nov 2018$11.93MAngel Round––
–
Jul 2018$67.6MSeries B$250.37MPNB MetLife, ESAF Co-Operative
Bajaj Allianz, ICICI Lombard
Apr 2010$7.33MUnspecified–Dia Vikas
Raphael Parambi, Thomas Joseph
Jun 2009$2.75MUnspecified–Dia Vikas
–
Valuation history
DateValuationStage
Mar 2021$460.76M••••••••
Jul 2018$250.37M••••••••

Last known valuation $460.76M (Mar 2021). 108 investors in total: 10 institutional and 98 angel.

Investors in ESAF

ESAF has secured backing from 108 investors, including institutional, angel, and venture fund investors. Prominent investors backing the company include ICICI Lombard, Muthoot Finance and Bajaj Allianz General Insurance.

All
Venture Fund
Institutional
Angel
InvestorDescriptionFounded YearDomainLocation
Narotam Sekhsaria Family Office
Investments in public markets, commodities, private equities, and real estate by a family office.
2006sekhsaria.comMumbai, India
ESAF Co-Operative
Agro cooperative services, financial inclusion, and agricultural marketing in India.
1992esafcooperative.inThrissur, India
PNB MetLife
Provider of life insurance services
2001pnbmetlife.comBengaluru, India
Bajaj Allianz
Provides life insurance, term plans, ULIPs, and savings for financial security.
2001bajajallianzlife.comPune, India
ICICI Lombard
Life, health, and general insurance services are provided across India.
2001icicilombard.comMumbai, India
Muthoot Finance
Consumer and SME loans are provided, secured by gold jewellery.
1887muthootfinance.comErnakulam, India
Bajaj Allianz General Insurance
Offers insurance for health, vehicles, travel, life, and commercial needs.
2001bajajallianz.comPune, India
LLMS
Offers comprehensive services for small car, house, and personal loans.
2016lahantilastmile.inThrissur, India
Dia Vikas
Microcredit is provided to low-income individuals and businesses.
2008dia-vikas.orgGurugram, India
Oikocredit
Financial services are provided to multiple industries worldwide.
1975oikocredit.orgAmersfoort, Netherlands
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Investor details for ESAF

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Board of directors of Esaf Small Finance Bank Limited (ESAF)

Esaf Small Finance Bank Limited is the primary company behind ESAF. The boards of the 2 registered companies of ESAF currently have 18 directors; the longest-serving is Paul Thomas Kadambelil, appointed in 2016. 59 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Paul Thomas Kadambelil
DIN 00199925
Managing Director05 May 201610 yrs 6 moEsaf Small Finance Bank Limited
Mereena Paul
DIN 02228087
Managing Director09 Mar 20179 yrs 8 moEsaf Financial Holdings Private Limited
Abraham Thariyan
DIN 07132831
Director08 Sep 20215 yrs 2 moEsaf Financial Holdings Private Limited
Emy Acha Paul
DIN 07434054
Nominee Director30 Nov 20214 yrs 11 moEsaf Financial Holdings Private Limited
Vikraman Ampalakkat
DIN 01978341
Director30 Nov 20214 yrs 11 moEsaf Financial Holdings Private Limited
Vinod Vijayalekshmi Vasudevan
DIN 02503201
Director22 Dec 20214 yrs 10 moEsaf Small Finance Bank Limited
Ajayan Mangalath Gopalakrishnan Nair
DIN 09782416
Director01 Dec 20223 yrs 11 moEsaf Financial Holdings Private Limited
Kolasseril Chandramohanan Ranjani
DIN 01735529
Director13 Dec 20223 yrs 11 moEsaf Small Finance Bank Limited
Joy Joseph Cherayaththekkuden
DIN 05221046
Director02 Jun 20233 yrs 5 moEsaf Financial Holdings Private Limited
Biju Varkkey
DIN 01298281
Director17 Aug 20233 yrs 2 moEsaf Small Finance Bank Limited
Saleena George
DIN 10269640
Nominee Director25 Aug 20233 yrs 2 moEsaf Financial Holdings Private Limited
George Kalaparambil John
DIN 00694646
Whole-time director18 May 20242 yrs 5 moEsaf Small Finance Bank Limited
Maramkandathil George Ittan
DIN 11193648
Director18 Nov 202511 moEsaf Small Finance Bank Limited
Karthikeyan Manickam
DIN 09450145
Director21 Dec 202510 moEsaf Small Finance Bank Limited
Ajay Sharma
DIN 06417150
Director21 Dec 202510 moEsaf Small Finance Bank Limited
Anjani Kumar Bansal
DIN 11663021
Nominee Director20 May 20265 moEsaf Financial Holdings Private Limited
Ashok Tukaram Dhamankar
DIN 03066552
Director01 Sep 20262 moEsaf Small Finance Bank Limited
Velloor Hari
DIN 11650530
Director01 Sep 20262 moEsaf Small Finance Bank Limited

People of ESAF

79 people are tracked at ESAF (37 in leadership, 42 in team); the tracked headcount is 12,520.

NameRoleGroup
Kadambelil Paul Thomas
CEO & Managing DirectorLeadership
Mareena Paul
Managing DirectorLeadership
Jaice Pullokkaren
Functional Head Of AdministrationLeadership
K Sunny
VP Head Collections And RecoveryLeadership
Saquib Ali Mohammad
Chief Technology OfficerLeadership
Kushalika Kar
Branch HeadLeadership
Madhu K Shankar
Chief ManagerLeadership
P V Antony
Head Of FinanceLeadership
Vijay Menon
Chief Manager VigilanceLeadership
Anto Mathew
Chief Manager Human ResourcesLeadership
Swaminathan Krishnamoorthy
Head Of Strategy And Planning Tech Transformation Core CommitteeLeadership
George John
Executive DirectorLeadership
James George
Chief Manager - HRLeadership
Prasanth Chandrasekharan
Deputy Vice President - Retail AssetsLeadership
Paul Thomas
Managing DirectorLeadership
Mahesh Subramanian
Head Micro Liability SalesLeadership
Sreekanth C K
Head Marketing & Pr. Branch Banking Head -keralaLeadership
Joseph Varghese
Head Businesss Correspondence Channel And Financial Institutions BusinessLeadership
John Paul
Chief ManagerLeadership
Abhilash Thanikkal V
Chief ManagerLeadership

59 more people are available in the full profile.

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Complete people profiles for ESAF

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IPO & Listings of ESAF

ESAF is a publicly listed company on the NSE with ticker symbol ESAFSFB in India, operating in the Finance sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date10 Nov 2023
  • Listed onBSE: 544020 · NSE: ESAFSFB
  • Listed entityESAF Small Finance Bank Limited
  • Exchange sectorFinance
  • ISININE818W01011
  • Share price₹44.39 (+1.49% on the day) · 2026-10-14
  • Market capitalisation₹2,272 Cr
  • EPS (diluted, trailing year)₹-0.11
  • Volume (last session)363,676

Financials of ESAF

Exchange-reported figures of Esaf Small Finance Bank Limited, the listed company behind ESAF (NSE: ESAFSFB).

Financial Highlights

FY 2025-26 · Standalone
Revenue
₹2,511 Cr
-0.3% YoY
EBITDA
-
Profit After Tax
−₹166 Cr
+68.1% YoY
Net Worth
₹1,787 Cr
-8.3% YoY
Total Assets
₹30,868 Cr
+13.6% YoY
Total Debt
₹28,603 Cr
+15.9% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue2,5112,5192,8122,1241,3551,049925
Revenue growth-0.3%-10.4%+32.4%+56.8%+29.2%+13.3%-
Profit before tax(228)(693)57040673.85141256
Net profit(166)(521)42630254.73105190
Balance sheet
Total assets30,86827,17826,08720,22417,70812,3399,470
Net worth1,7871,9492,4921,7151,4121,3521,084
Total debt28,60324,68223,09018,02015,76810,6938,232
Cash & bank1,1751,9791,4237671,5121,819903
Cash flow
Cash from operations(1,960)3,1761,001(571)(584)1,1271,089
Cash from investing(192)(769)(583)(573)(982)(638)(635)
Cash from financing1,347(1,852)2353991,259653(499)
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue857832719702517573579599
Revenue growth (YoY)+65.7%+45.3%+24.2%+17.2%-18.8%-18.6%--
Other income213248201269145195145114
Depreciation0.000.000.000.000.000.000.000.00
Profit before tax21410727.099.13(155)(109)(241)(282)
Tax54.3326.943.582.01(39.61)(27.98)(57.65)(71.49)
Net profit16080.0823.517.12(116)(81.22)(183)(211)

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 13 Nov 2026
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue857832719702517573579599
Revenue growth (YoY)+65.7%+45.3%+24.2%+17.2%-18.8%-18.6%--
Other income213248201269145195145114
Depreciation0.000.000.000.000.000.000.000.00
Profit before tax21410727.099.13(155)(109)(241)(282)
Tax54.3326.943.582.01(39.61)(27.98)(57.65)(71.49)
Net profit16080.0823.517.12(116)(81.22)(183)(211)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue2,5112,5192,8122,1241,3551,049925
Revenue growth-0.3%-10.4%+32.4%+56.8%+29.2%+13.3%-
Other income811472442288208127133
Depreciation65.4859.2550.9941.7932.7728.5723.17
Profit before tax(228)(693)57040673.85141256
Tax(62.00)(172)14510419.1235.9965.87
Net profit(166)(521)42630254.73105190
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital516515515449449449428
Reserves & surplus1,2711,4341,9771,266962903656
Shareholders' funds (net worth)1,7871,9492,4921,7151,4121,3521,084
Secured loans2,7531,4063,2233,3542,9531,6941,203
Unsecured loans25,85023,27619,86814,66612,8158,9997,028
Total debt28,60324,68223,09018,02015,76810,6938,232
Total liabilities30,86827,17826,08720,22417,70812,3399,470
Assets
Investments6,3995,9955,5414,8894,0701,9321,734
Cash & bank balances1,1751,9791,4237671,5121,819903
Loans & advances1,184876622456329281166
Total assets30,86827,17826,08720,22417,70812,3399,470
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash1,9761,4207661,5111,819676721
Net cash from operating activities(1,960)3,1761,001(571)(584)1,1271,089
Net cash from investing activities(192)(769)(583)(573)(982)(638)(635)
Net cash from financing activities1,347(1,852)2353991,259653(499)
Net change in cash(805)556654(745)(308)1,143(44.95)
Closing cash1,1751,9791,4237671,5121,819903
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-0.3%-10.4%+32.4%+56.8%+29.2%+13.3%-
Net income growth+68.1%-222.5%+40.8%+452.4%-48.1%-44.6%-
Profitability & leverage
Return on net worth-8.9%-23.5%+20.2%+19.3%+4.0%+8.7%+19.3%
Efficiency & per share
EPS (₹)(3.23)(10.12)8.276.731.222.344.45
Dividend per share (₹)0.000.000.700.000.000.000.00

Timeline of ESAF

5 dated milestones of ESAF across 31 years, from founding to its latest funding, stage changes and deals.

  1. Founded ESAF is founded.
  2. Funding First funding round of $2.8M.
  3. Milestone Reaches Minicorn status.
  4. Funding Latest funding round, Series C, of $22.2M.
  5. IPO Lists on the stock exchange (IPO).

Competitors of ESAF

ESAF has 3 listed competitors in our database, 3 of them funded. They include Ujjivan Small Finance Bank, Jana Small Finance Bank and AU Small Finance Bank.

Company NameDomainFoundedHQ LocationTotal fundingEmployeesDescription
Ujjivan Small Finance Bank
ujjivansfb.in2005Bengaluru, India$153.96M22,566
Small finance services are extended to underserved segments in India.
Jana Small Finance Bank
janabank.com1999Bengaluru, India$814.02M29,388
Microfinance bank
AU Small Finance Bank
aubank.in1996Jaipur, India$118M31,943
Collateralised loans for commercial vehicles are extended to rural entrepreneurs.
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Detailed competitors of ESAF

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Web traffic of ESAF

The website of ESAF (esafbank.com) receives about 72.8K visits a month and ranks #582,848 among all websites worldwide, #9,171 in Jobs and Employment.

  • Monthly visits
    72.8K

    ▲ 51.8% vs previous month

  • Unique visitors
    19.1K

    per month

  • Global rank
    #582,848

    among all websites

  • Category rank
    #9,171

    Jobs and Career · Jobs and Employment

Similar websites

Websites whose visitors overlap most with ESAF. Affinity shows how closely the audiences match.

WebsiteDomainAudience affinityMonthly visitsGlobal rankProfile
Utkarsh Bank
utkarsh.bank
100%
50.1K#479,433View details

Top companies in Microfinance

3 companies that operate in the same segment as ESAF (Microfinance) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
Satin Creditcare
Micro loans for businesses are offered by this NBFC.
1990Delhi, Delhi, IndiaUSD 40 MUSD 310.26 M752
Fusion Microfinance
Provider of microloans
2010Delhi, Delhi, IndiaUSD 71.68 M12,403
Bharat Financial Inclusion
Provider of micro-credit & insurance for low income income individuals and women
1997Secunderabad, Telangana, IndiaUSD 144.02 MUSD 290.04 M41,638
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Related news about Esaf

ESAFSFB: Q2 SL NET PROFIT 1.6B RUPEES VS LOSS 1.16B (YOY)
Exchange Update • 15 days ago
ESAFSFB: Q2 GNPA 2.84% VS 5.4% (QOQ); Q2 NNPA 0.34% VS 0.83% (QOQ)
Exchange Update • 15 days ago
ESAF Small Finance Bank: Co Gets ESG Score Boost From 75.4 To 77.6, Maintains "CAREEDGE-ESG 1" Rating For Strong ESG Risk Management And Social Commitment.
Exchange Update • 1 month ago
ESAF Small Finance Bank board approves ₹500 crore tier II capital raise through NCDs - CNBC TV18
CNBCTV18 • 1 month ago
ESAF Small Finance Bank: Board Approves ₹500 Crore Tier II NCD Issue Through Private Placement
Exchange Update • 1 month ago
ESAF Small Finance Bank: Board To Review Non-Convertible Debentures Issuance
Exchange Update • 1 month ago
CARE Ratings revises rating outlook of ESAF Small Finance Bank to to 'stable' | Capital Market News - Business Standard
Business Standard • 2 months ago
ESAF Small Finance Bank eyes ₹1 lakh cr total biz of by 2030 - The HinduBusinessLine
Thehindubusinessline • 3 months ago
Q1 results 2026: ITC to Maruti Suzuki, Sun Pharma, among companies to declare Q1 earnings today; full list here
Mint • 3 months ago
ESAF Small Finance Bank Q1 Net Profit 800.8 Million Rupees
Reuters • 3 months ago
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Frequently Asked Questions about ESAF

ESAF was founded in 1992 and raised its 1st funding round 17 years after it was founded.

ESAF is headquartered in Thrissur, India. It is registered at Thrissur, Kerala, India.

Kadambelil Paul Thomas is the CEO of ESAF, as recorded in our data.

ESAF is a funded company, having raised a total of $101.74M across 5 funding rounds to date. The company's 1st funding round was a Unspecified of $2.75M, raised on Jun 2009.

ESAF has 12,520 employees.

The primary company behind ESAF, Esaf Small Finance Bank Limited, reported revenue of ₹3,322 Cr for FY 2026, down 0% year on year.

ESAF was founded in 1992 in Thrissur, India, and operates as a microfinance institution focused on banking services for underserved communities. Loans, savings accounts, and financial inclusion programs are provided through its network across rural and semi-urban areas. Leadership is held by Kadambelil Paul Thomas as CEO and Managing Director, alongside Mareena Paul as Managing Director. The company functions within the financial services sector, emphasizing accessible credit solutions.

ESAF's top competitors include AU Small Finance Bank, Ujjivan Small Finance Bank and Jana Small Finance Bank.

ESAF offers Savings Account, Current Account, Fixed Deposit, and Loans.

Yes, ESAF is publicly traded on NSE under the ticker symbol ESAFSFB.

ESAF has 108 investors. Key investors include ICICI Lombard, Muthoot Finance, Bajaj Allianz General Insurance, PNB MetLife, and Bajaj Allianz.

The valuation of ESAF is $460.76M as of Mar 2021.

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