Magma Fincorp

Magma Fincorp Limited (formerly Magma Leasing Limited) is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an Asset Finance Company. Magma was incorporated in 1988 and commenced operations in 1989. To strengthen its business, the company merged with Arm Group Enterprises in 1992. Magma has emerged as one of India's largest financial services companies during the past five years.

In early 2007, to strengthen its services even more, Shrachi Infrastructure Finance Ltd. (SIFL), a non-banking retail financing company, merged with Magma to create a new financial services powerhouse: Magma Shrachi Finance Ltd. On August 2008, the company was renamed as Magma Fincorp.

Magma is headquartered in Kolkata (India), and is listed on the Bombay Stock Exchange Limited and the National Stock Exchange in India. Magma has a dedicated base of over 2.29 lac customers and has assets of approximately INR 9390 crores under management. The company has 153 branches in 21 states and 1 union territory with over 70% branches located in rural/ semi urban markets and employs over 4600 people.

Magma caters to diverse financial needs of rural and semi urban Indian entrepreneurs who are unable to effectively access organized banking. Magma offers individual and corporate customers a range of financial products and services in:

Magma not only provides a one-stop-shop financing facility to the customers, but also fulfils the dreams of millions of first-time entrepreneurs; catalyzing local economies and helping the nation grow. About 50% of the company's customers are under-banked or poorly serviced and small entrepreneurs. The company is best recognized for providing an equality of opportunity to the economically disenfranchised.

The company has achieved a CAGR (compounded annual growth rate) of more than 27.2% over the last five years. The rapid growth of the company does not derive solely from the conscious initiative in growing the physical infrastructure; it is also owing to careful investments in lasting relationships with team members, alliance partners, customers and vendors.

By proceeding on these lines, Magma aims to sustain this growth, thus becoming even more responsive to the rising needs of a dynamic nation.

www.magma.co.in