Fullerton India Credit Company Limited
From Taighde
Fullerton India Credit Company (FICC) is a subsidiary of Fullerton Financial Holdings Pte Ltd, a wholly owned subsidiary of the Temasek Holdings. At its peak it has opened more than 800 branches spread across 150 locations and has more than 15,000 employees. Fullerton Securities is a planned unit of FICC. It was announced in December 2009, that FICC would stop loaning out sub-prime loans due to massive losses.
It started operations in January 2006. It was announced in March 2009, that due to the ongoing recession, Fullerton will lay off 20% (3000 employees) of its workforce and close 50 branches.
According to it's website: "We offer a range of financial products and solutions, tailor-made for the Salaried Individuals (Retail Mass Market) and the Small sized Shop-owners & Entrepreneurs (Commercial Mass Market). We are present through our own, specialized network of branches, separately for these two business segments. Our branches are always only a short distance away from our customers workplace or home. We service our customers only through our own employees. Each of our customers are assigned a dedicated Relationship Officer who acts as the primary contact point for all the financial requirements of our customers.[1]"
