Standard Chartered Bank (SCB), a UK-based financial services company, recently notified MicroCapital that it disbursed loans of INR 450 million (USD 7.2 million) to Equitas Microfinance, a microfinance institution in Chennai, India, and INR 350 million (5.5 million) Satin Credit Care, a microfinance institution in Delhi, India, during August 2013. The purpose of both loans is to support on-lending to microentrepreneurs. It is estimated that 30,000 microenterprises will receive financing as a result of these two wholesale loans. Standard Chartered Bank has been associated with Equitas since 2012 and Satin since 2006. Further information on the loans has not been released.As of 2011, Equitas reported to the Microfinance Information Exchange (MIX), a US-based nonprofit data provider, assets of USD 245 million, a gross loan portfolio of USD 209 million, 1.3 million active borrowers, return on assets (ROA) of 2.74 percent and return on equity (ROE) of 13 percent. As of December 31, 2012, Satin reported to MIX total assets of USD 137 million, a gross loan portfolio of USD 107 million, ROA of 0.86 percent, ROE of 4.82 percent and 485,000 active borrowers.
Based in the UK, Standard Chartered Bank reports total assets of USD 637 billion for 2012 and is primarily active in Africa, Asia and the Middle East.
By Megan McGowan, Research Associate
About Equitas Micro Finance India Private Ltd.
Equitas is a microfinance institution (MFI) that was created in December 2007 and is located in Chennai, India. The company provides microcredit to low-income households in India. The objective of the company is to make credit available at a reasonable cost and in a transparent manner to the underbanked population of India, as well as achieve sufficient returns on investment in order to attract capital. As of 2012, Equitas reported to the Microfinance Information Exchange (MIX) assets of USD 245 million, a gross loan portfolio of USD 209 million, 1.3 million active borrowers, return on assets (ROA) of 2.74 percent and return on equity (ROE) of 13 percent. The MFI does not accept deposits.
About Satin Creditcare
Established in 1990, Satin Creditcare Network Limited is an Indian microfinance institution based in Delhi. As of December 31, 2012, Satin reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 137 million, a gross loan portfolio of USD 107 million, return on assets (ROA) of 0.86 percent, return on equity (ROE) of 4.82 percent and 485,000 active borrowers. The MFI does not accept deposits.
About Standard Chartered Bank
Founded in 1969, Standard Chartered Bank is a financial services company that is based in the United Kingdom and primarily active in Africa, Asia, and the Middle East. For the year 2012, SCB reported total assets of USD 637 billion and has invested USD 1 billion in microfinance institutions in Asia and Africa.
Sources and Additional Resources
Information provided to MicroCapital by Standard Chartered Bank.
Standard Chartered Bank, http://www.standardchartered.com.pk
MicroCapital Story, August 9, 2013, “MICROCAPITAL BRIEF: Standard Chartered Bank (SCB) Loans $6m to Asian MFIs ASA Philippines Foundation, Mitra Bisnis Keluarga Ventura of Indonesia,” https://www.microcapital.org/microcapital-brief-standard-chartered-bank-scb-loans-6m-to-asian-mfis-asa-philippines-foundation-mitra-bisnis-keluarga-ventura-of-indonesia/
MicroCapital Story, July 4, 2013, “MICROCAPITAL BRIEF: Standard Chartered Bank (SCB) Loans $5.7m to Bank Andara to Support Microfinance Institutions (MFIs) in Indonesia,” https://www.microcapital.org/microcapital-brief-standard-chartered-bank-scb-loans-5-7m-to-bank-andara-to-support-microfinance-institutions-mfis-in-indonesia/
MicroCapital Story, March 13, 2013, “MICROCAPITAL BRIEF: Asian Development Bank, Standard Chartered Bank Commit $150m to Microfinance in Asia,” https://www.microcapital.org/microcapital-brief-asian-development-bank-standard-chartered-bank-commit-150m-to-microfinance-in-asia/
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