Three out of six microfinance institutions (MFIs) that had applied for small finance banks reported a steep increase in their loan disbursal ranging from 69 per cent to 201 per cent in the third quarter of 2014-15 .
According to sources, ESAF Microfinance tops the list with a growth of 201 per cent, followed by Ujjivan Financial Services Ltd. and Janalakshmi Financial Services.
Out of the top 10 MFIs in the country in terms of disbursal, Bandhan Financial Services is in the process of setting up a small finance bank. Besides, SKS Microfinance, Ujjivan, Janalakshmi, Equitas, Grama Vidiyal, Satin and ESAF have sought permission from the Reserve Bank for the niche bank.
The Microfinance Institutions Network (MFIN) has 47 members, and they have collectively disbursed Rs.31,450 crore in the nine months ending December 31, 2014 against Rs.20,820 crore in the corresponding period last year.
During the third quarter, the MFIs reported a 46 per cent increase in its loan portfolio by disbursing Rs.13,260 crore (Rs.9,090 crore).
As of December 31, 2014, MFIs provided micro credit to 28.7 million clients against 23 million clients during the corresponding period last year. Less than one per cent of loan portfolio was placed under risk category.
The top 10 MFIs accounted for 80 per cent of total disbursal during the quarter under reference. The average size of individual loan increased to Rs.16,194 from Rs.15,858 in the previous quarter.
Even though the gross loan portfolio of MFIs is evenly spread throughout the country, West Bengal, Tamil Nadu, Karnataka, Maharashtra and Bihar accounted for 58 per cent of the total disbursals, according to the 12 edition of MFIN Micrometer.