Shriram Transport Finance Company, the largest financier of commercial vehicles, and Shriram City Union Finance, the largest two-wheeler financer and leader in micro, small and medium enterprise (MSME) lending, have been merged to form Shriram Finance Limited (Shriram Finance). Shriram Finance will be a diversified player with a robust net worth of Rs 40,900 Crs and Assets under Management (AUM) of Rs 1,71,000 Crs, the Company caters to over 6.7 million customers across India. The growth strategy for the Company will be focused on driving the self-employed and the MSME economy.
Shriram Finance further announced the appointment of Mr Jugal Kishor Mohapatra as Chairman of the Company and Mrs Maya Sinha as an Independent Director. The company also announced its growth strategy – Driving the Self-employed and Small Business Economy and has chalked out five strategic pillars to drive future growth.
To be the country’s most preferred financial services destination. Generate an industry-leading Return on Asset (ROA) and Return on Equity (ROE) in the long term Delivering customer delight in rural and semi-urban areas by leveraging technology and through empowered employee. Mr Umesh Revankar, a long-serving Shriram veteran, will serve as Executive Vice Chairman of the merged entity. Commenting on the merger he said, “We are looking forward to an exciting phase of sustained double-digit growth.”