According to IFC, the proposed investment comprises a 3-year senior loan of up to US$50 million to CreditAccess Grameen Limited (CAGL or the Company), which is Reserve Bank of India (RBI) registered, non-banking finance company microfinance institution (NBFC-MFI). It currently operates in 14 Indian states and 1 union territory through 1,635 branches and has a borrower base of 3.8 million women borrowers. On a consolidated basis, CAGL is the largest NBFC-MFI in India with a gross loan portfolio of US$2.2 billion and a net worth of US$543 million as on March 31, 2022. The proceeds of IFC loan will be utilized towards expanding the Company’s portfolio to women borrowers for income generation purposes, specifically in the low-income states (LIS)/rural areas of India.
IFC proposes to invest up to US$50 million to CAGL, in the form of senior debt investment.
Headquartered in Bengaluru, as of March 2022, the Company operates in 14 Indian States and 1 Union Territory across 319 districts through 1,635 branches.
CAGL is listed on the Bombay and National Stock Exchanges and its shareholders include CreditAccess India (CAI, 74%) and the remaining 26% is publicly owned. CAI is an investment company, based in Amsterdam, with 220+ shareholders including Olympus Capital Asia (15%) and Asian Development Bank (9%)
CreditAccess Grameen Limited
Mr. Chandrakant S
No. 49, 46th Cross, 8th Block, Jayanagar, (Next to Rajalakshmi Kalayana Mantap) Bengaluru 560071, Karnataka. India
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