Spandana Sphoorty Financial Limited, an Indian microfinance institution, recently announced that it had loaned a total of INR 151 billion (USD 3 billion) since its founding in 1998 through August 31, 2010. Spandana now reaches 5 million borrowers, according to the same press release [1].
Spandana provides microcredit and “credit-plus” services to low-income households in India, and reported total assets of INR 27 billion (USD 580 million) as of March 31, 2010. According to Microfinance Information Exchange, return on assets and return on equity were 8.99 percent and 55.67 percent, respectively, as of March 31, 2010. Spandana is also currently evaluating an initial public share offering (IPO) as reported by MicroCapital on August 5, 2010.
By Jennifer Shevock, Research Associate
About Spandana Sphoorty Financial Limited:
Spandana Sphoorty Financial Limited provides microcredit and credit-plus services to low-income households in India. The company was founded by Padmaja Reddy in 1998 and receives its funding from development finance institutions and banks. Total reported assets are INR 27 billion (USD 580 million) as of March 31, 2010. According to Microfinance Information Exchange, return on assets and return on equity were 8.99 percent and 55.67 percent, respectively, as of March 31, 2010.
Sources and Additional Resources:
[1] “Spandana disbursements cross Rs 15,000 cr mark” September 16, 2010. http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/finance/Spandana-disbursements-cross-Rs-15000-cr-mark/articleshow/6566706.cms
MICROCAPITAL BRIEF: “Indian Microfinance Institution Spandana Sphoorty’s Board Actively Evaluating an Initial Public Offering (IPO)” August 5, 2010. https://www.microcapital.org/microcapital-brief-indian-microfinance-institution-spandana-sphoorty%E2%80%99s-board-actively-evaluating-an-initial-public-offering-ipo/
MICROCAPITAL BRIEF: “Spandana Sphoorty Innovative Financial Services Limited, a Microfinance Institution (MFI) Based in Hyderabad, India, Issues $5.3m Worth of Commercial Paper” February 8, 2010. https://www.microcapital.org/microcapital-brief-spandana-sphoorty-innovative-financial-services-limited-a-microfinance-institution-mfi-based-in-hyderabad-india-issues-53m-worth-of-commercial-paper/#more-4440
MICROCAPITAL STORY: “Spandana Sphoorty Financial Ltd. Issues INR 800 million (USD 17 million) One-year 10 Percent Bonds in Deal Arranged by Standard Chartered Bank” June 22, 2009.
https://www.microcapital.org/microcapital-story-spandana-sphoorty-financial-ltd-issues-inr-800-million-usd-17-million-one-year-10-percent-bonds-in-deal-arranged-by-standard-chartered-bank/#more-3467
MicroCapital Universe: Spandana Sphoorty Financial Limited: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Spandana+Sphoorty+Financial+Ltd
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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