SKS Microfinance
This page is an entry from the MicroCapital Universe, the reference wiki kept alongside our news briefs: one profile per institution, assembled from the company's own disclosures and from the MIX Market as they read at the time.
Treat it as a snapshot with a date on it. The branch counts, the assets and the borrower numbers here are those reported for 2008 and 2009, and the address and telephone lines are reproduced from the profile rather than checked: they belong to the record, not to any contact channel, and we pass no messages to the company. Nothing on the page was written with knowledge of the upheaval that later reshaped microfinance lending in India.
That is also why it is worth keeping. The entry shows the moment plainly: a lender to women clients, run out of Hyderabad, that had converted itself from a non-profit into a for-profit finance company and was opening branches at a rate few lenders of any kind sustain, with venture capital rather than donor money behind it. Read against the briefs listed below, it is a check on what the sector believed about itself while the growth was still being celebrated.
Overview
SKS Microfinance is an microfinance institution (MFI), launched in 1998, that caters to women clients in India.Description
SKS Microfinance is a microfinance institution (MFI), launched in 1998, that caters to women clients in India. In 2005, it transformed into a for-profit non-banking financial company (NBFC). As of September 2009, SKS had 1,676 branches, compared with 771 branches in March 2008. According to the MIX Market, the microfinance information clearinghouse, its total assets, as of March 31, 2009, were USD 596 million with 3.5 million active borrowers, and it reported return on assets of 3.68 percent and return on equity of 18.72 percent. SKS Microfinance offers products including: income generating loans, mid-term loans, individual loans, loan cover insurance and health insurance. Equity investors include Sequoia Capital, Vinod Khosla, Small Industries Development Bank of India, Bajaj Allianz, Yatish Trading, Kismet Capital, Sandstone Capital, Silicon Valley Bank and Unitus.Organization's Website
http://www.sksindia.com/Microfinance Information Exchange (MIX) Profile
http://www.mixmarket.org/mfi/sksContact Information
SKS Microfinance LtdAshoka Raghupathi Chambers
D No. 1-10-60 to 62
Opp Shoppers Stop
Begumpet, Hyderabad- 500 016( A.P)
Tel: +91-40-44526000
Fax: +91-40-44526001
Additional Resources
SKS Microfinance Ties Up With SBI:http://www.istockanalyst.com/article/viewiStockNews/articleid/3730342
MICROCAPITAL.ORG BRIEF: SKS Microfinance Links with Axis, ICICI, and HDFC Banks for Excess Cash Management:
http://www.microcapital.org/microcapitalorg-brief-sks-microfinance-links-with-axis-icici-and-hdfc-banks-for-excess-cash-management/
MIX Market: SKS Microfinance:
http://www.mixmarket.org/mfi/sks
MICROCAPITAL BRIEF: Nokia Launches Microfinance Scheme to Sell Mobile Phones to Poor People in Rural India: http://www.microcapital.org/microcapital-brief-nokia-launches-microfinance-scheme-to-sell-mobile-phones-to-poor-people-in-rural-india/
