According to IFC website, the project envisages a debt investment in Ujjivan Financial Services Limited which is a leading MFI headquartered in Bangalore, Karnataka with a borrower base of more than 2.5 million borrowers and a loan portfolio of approximately INR41 billion (US$620 million equivalent) as of September 2015. Ujjivan is amongst the few large MFIs that focus on providing micro loans to women borrowers in urban and semi-urban areas. Its target customers include self-employed women working as vegetable or fruit vendors, small shop owners, sari sellers, tailors, salaried women working in garment factories, hospitals, cooks, house maids, and piece rate workers involved in incense stick rolling, tailoring etc. Ujjivan has over the years, established itself as one of the most customer centric institutions with a strong emphasis on responsible lending and good HR practices. The project is expected to have a high development impact in the following areas:
Ujjivan was founded by Mr. Samit Ghosh who has been an international banker for over thirty years and was part of the pioneering team which launched consumer banking in India at Citibank in 1985. He led the launch of retail banking for Standard Chartered in the Middle East and South Asia, and for HDFC Bank in India. His last assignment, before starting Ujjivan was as CEO of Bank of Muscat. He is an alumnus of Jadavpur University and the Wharton School of Business, USA.
Ujjivan is listed on the National Stock Exchange and Bombay Stock Exchange. Its key shareholders include CX Partners, NewQuest, CDC, Bajaj, Sequoia and Caspian. Ujjivan Financial Services Limited, a microfinance institution, provides retail banking services and a range of financial services to economically active poor in urban and semi-urban areas in India.
Project Contact: Mr. Hiren Shah
Ujjivan Financial Services Limited
Office Address: Grape Garden, No. 27, 3rd A Cross, 18th Main, Koramangala 6th Block, Bengaluru 560 095
Contact No.: +91 80 4071 2121
Fax No.: +91 80 4146 8700
Email Address: Hiren.email@example.com
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