[ad_1]
International Finance Company, part of the World Bank Group, is likely to invest up to $ 50 million in loan Ujjivan Small Finance Bank.
According to information provided by the IFC, the loan will help the Bengaluru-based group extend its reach to low-income borrowers who have limited access to official sources of finance. The funding will also strengthen Ujjivan's balance sheet through the availability of long-term debt.
Ujjivan Small Finance Bank is 100% owned by its sponsor, Ujjivan Financial Services, in which IFC holds approximately 4.4% of the capital. Listed company Ujjivan Financials Services is one of CX Partners' major investors, Newquest, Bajaj, Sequoia and Caspian.
She was one of 10 entities to have received a RBI license to start banking in 2016. The bank operates through 462 branches in 24 Indian states and union territories.
"The proposed investment is intended to provide long-term and diversified financial support to institutions as they move from NBFC to Small Finance Bank," said IFC.
IFC added that the investment would help demonstrate the sustainability of micro and small business lending and build investor confidence in other microfinance channels through various channels.
As of June 30, Ujjivan Small Finance Bank's total gross loan portfolio amounted to Rs.7,787 million, while total loan disbursements amounted to Rs 2,092 million for the quarter ended. the month of June.
Earlier this year, in May, the IFC announced plans to offer a loan of up to $ 150 million to HDB Financial Services Ltd, a subsidiary of HDFC's private sector bank. Previously, she had offered to propose a debt of about $ 20 million over the long term to Arohan Financial Services Pvt, a company based in Kolkata. Ltd.
Read also:
Ujjivan Small Finance Bank requests the extension of RBI to postpone listing
IFC Proposes Expanding $ 150 Million Debt to Indian NBFC HBD Financial Services
India: IFC plans to invest up to $ 20 million in debt in Arohan Financial Services
[ad_2]
Source link
