Loan portfolio of MFIs grows 47% to nearly Rs 29K cr in Q2

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 percent.

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 percent 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. Branches of MFIs grew by 8 per cent when compared to Q2 FY13-14. West Bengal, Tamil Nadu, Karnataka, Andhra Pradesh and Maharashtra are top states in terms of number of branches while Maharashtra, MP, Tamil Nadu, Gujarat and Karnataka have the highest concentration of MFIs, it said.

During Q2 of FY15, MFIs disbursed over 7.9 million loans worth Rs 12,530 crore. The number of loans disbursed grew by 35 percent when compared to Q2 of FY14, while loan amount disbursed grew by 61 percent. The average loan amount disbursed per account stood at Rs 15,858. Top ten MFIs in terms of disbursements account for 77 percent of total disbursements, it further said.