MFIs gross loan portfolio surges 47% in Q2
10/12/2014 17:39
The aggregate gross loan portfolio (GLP) of MFIs in the country stood at Rs 28,800 crore, excluding non-performing portfolio in Andhra Pradesh (close to Rs 2,900 crore) as on September 30, representing a year-on-year growth of over 47 per cent, said the media report. The GLP of the all MFIs (Microfinance Institutions) stood at Rs 19,560 crore during the same quarter last year. According to the latest MFIN MicroMeter, 10 largest MFIs in terms of GLP account for 75 per cent of the total industry loan portfolio. "As of September 30, 2014, MFIs reached over 27.9 million clients. Compared to Q2 FY13-14, clients grew by 23 per cent. State level distribution of clients mirrors the distribution in terms of GLP. Tamil Nadu and West Bengal are top states in terms of number of clients. Average loan outstanding per client, on a Pan India basis is Rs 10,339," the report said. MFIs have a network of 10,214 branches with over 48,000 loan officers across 32 states and Union Territories. During Q2 of FY15, MFIs disbursed over 7.9 million loans worth Rs 12,530 crore. The number of loans disbursed grew by 35 per cent when compared to Q2 of FY14, while loan amount disbursed grew by 61 per cent. The average loan amount disbursed per account stood at Rs 15,858. Top ten MFIs in terms of disbursements account for 77 per cent of total disbursements, it further said. During Q2 of FY15, MFIs received Rs 10,584 crore in debt funding from banks and other financial institutions representing 172 per cent growth against Q2 of FY14.
10/12/2014 17:39
The aggregate gross loan portfolio (GLP) of MFIs in the country stood at Rs 28,800 crore, excluding non-performing portfolio in Andhra Pradesh (close to Rs 2,900 crore) as on September 30, representing a year-on-year growth of over 47 per cent, said the media report. The GLP of the all MFIs (Microfinance Institutions) stood at Rs 19,560 crore during the same quarter last year. According to the latest MFIN MicroMeter, 10 largest MFIs in terms of GLP account for 75 per cent of the total industry loan portfolio. "As of September 30, 2014, MFIs reached over 27.9 million clients. Compared to Q2 FY13-14, clients grew by 23 per cent. State level distribution of clients mirrors the distribution in terms of GLP. Tamil Nadu and West Bengal are top states in terms of number of clients. Average loan outstanding per client, on a Pan India basis is Rs 10,339," the report said. MFIs have a network of 10,214 branches with over 48,000 loan officers across 32 states and Union Territories. During Q2 of FY15, MFIs disbursed over 7.9 million loans worth Rs 12,530 crore. The number of loans disbursed grew by 35 per cent when compared to Q2 of FY14, while loan amount disbursed grew by 61 per cent. The average loan amount disbursed per account stood at Rs 15,858. Top ten MFIs in terms of disbursements account for 77 per cent of total disbursements, it further said. During Q2 of FY15, MFIs received Rs 10,584 crore in debt funding from banks and other financial institutions representing 172 per cent growth against Q2 of FY14.
