ESAF Small Finance Bank opened its new branch at New Secretariat Road Kohima on February 4. Founder, MD & CEO of ESAF Small Finance bank K.Paul Thomas in his speech recounted the institution’s journey, which began as an NGO in 1992 under the Evangelical Social Action Forum (ESAF).
In 1995, the organization launched Micro Enterprises Development (MED) services, which eventually led to the establishment of ESAF Microfinance and Investments Pvt. Ltd. in 2008. Thomas emphasized the importance of integrating financial services into the holistic economic development of the marginalised.
He added that by opening branches in remote and underserved areas, the bank aims to bridge the gap in financial access and highlighted the bank’s social commitment.
Principal secretary Finance department, Government of Nagaland, Talirerenba Ao in his speech acknowledged ESAF’s Christian ethos and its impressive achievements in the banking sector. He also pointed out the stark disparities in Nagaland’s banking landscape, where urban areas like Kohima, Dimapur, and Chumoukedima are well-served, while rural regions remain neglected.
He expressed hope that ESAF would address these gaps and bring its services to the state’s underserved communities. Talirerenba also emphasized the importance of a human touch in banking, urging financial institutions to prioritize personalised customer service and better care of the customers.
Commissioner & Secretary of Industries & Commerce, Nagaland, Shanavas C also delivered short speech. Executive Vice President of ESAF Small Finance Bank, Bosco Joseph, welcomed attendees and reiterated the bank’s mission to serve the poor and needy.
The event was earlier blessed with a dedication and blessing by St. Francis De Sales Church Fr. Mathew Mhabemo. Regional Head of the North East Region at ESAF Small Finance Bank Chandan Pathak, delivered the vote of thanks.