Amsterdam, Netherlands, 25 November 2025. Dr. K. Paul Thomas, Managing Director and CEO of ESAF Small Finance Bank, a microfinance institution based in Kerala, India, has joined the Board of the Global Alliance for Banking on Values (GABV). He will represent the Asia Pacific (APAC) region in this global network of values-based banks. The announcement took place at the in-person Board meeting in Colombo, Sri Lanka, hosted on 15th of October by member bank Sarvodaya Development Finance.
Paul Thomas replaces Selim Hussain on the GABV Board, who stepped down as CEO of BRAC Bank (Bangladesh) and as GABV Board Member for the APAC region in June 2025.
David Reiling, Board Chair at the GABV: “I want to express our sincere gratitude to Selim Hussain for his extraordinary contribution to the Banking on Values movement. At the same time, we are delighted to welcome Paul Thomas to the Board. His deep experience in financial inclusion and his long-standing commitment to values-based banking will be invaluable as we continue to grow our movement in one of the world’s most dynamic regions.”
Martin Rohner, Executive Director, GABV: “Paul Thomas is a pioneer and visionary in values-based banking in India. Under his leadership, ESAF Small Finance Bank has reached over 9 million people in South India, helping them improve their livelihoods. Paul’s extensive experience is a tremendous asset to the work of the GABV Board.”
The Asia Pacific Chapter (APAC) has 15 members in India (ESAF Small Finance Bank), Japan (Dai-Ichi Kangyo Credit Cooperative -DKC), Australia (Banks Australia, G&C Mutual), Papua New Guinea (TISA Bank), Afghanistan (First Microfinance Bank), Tajikistan (Investment and Credit Bank, Bank Arvand), Kyrgyzstan (Kompanion Bank), Nepal (NMB Bank), Bangladesh (BRAC Bank), Sri Lanka (SDB Bank, Sarvodaya Development Finance), Malaysia (Bank Muamalat) and Palestine (Bank fo Palestine). In total, they serve 15 million customers, manage USD 43 billion in assets and employ more than 31,000 people.
APAC is a geographically diverse region, with marked differences in per capita income, the operating environment for the financial system and local, national and regional priorities. The key focus of members in APAC is providing access to finance, poverty eradication and improvement in the quality of lives of the people at the bottom of the pyramid.
Dr. K. Paul Thomas is a visionary social entrepreneur from India and the founder of the ESAF Group of Social Enterprises, including ESAF Small Finance Bank, where he currently serves as the Managing Director & Chief Executive Officer. ESAF Small Finance Bank joined the GABV in 2011 as the first, and only, member bank in India.
About GABV
The Global Alliance for Banking on Values (GABV) is a network of independent, values-based banking organisations using finance to deliver sustainable economic, social, and environmental development. Their collective goal is to transform the banking system to be more transparent, inclusive, and focused on serving the real economy. The GABV has 70+ members and operates in 45 countries across Africa, Asia-Pacific, Latin America, North America and Europe. Collectively, they serve more than 60 million customers, employ 100,000 co-workers and hold over USD 210 billions of combined assets under management.
About ESAF
About ESAF Small Finance Bank ESAF Small Finance Bank began its operations in 2017 with a strong focus on promoting social and financial inclusion. The Bank serves the underserved and unserved—especially women, micro-entrepreneurs, and rural communities—through a community-centric approach that combines technology with deep local insights. Guided by the values of People, Planet, and Prosperity, ESAF champions sustainable development by reinvesting a share of its profits into impactful social initiatives. As of March 2025, it operates 788 branches, 718 ATMs, and 1,110 Customer Service Centres across 24 states and 2 union territories. ESAF’s journey is backed by a 33-year legacy, rooted in its origins as a mission-driven NGO founded in 1992.
