Issue 06 MFIN micrometer data as of 30 th June 2013
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content summary 4 introduction 5 operational data 6-17 GLP managed portfolio loan amount disbursed loans disbursed clients loan accounts loans disbursed branches employees loan officers avg loan outstanding per client avg loan amount disbursed per loan % change in GLP productivity 18-21 clients per branch GLP per branch clients per loan officer GLP per loan officer financial data 22-26 total assets total equity outstanding borrowings funding securitization portfolio quality 27-28 PAR 30 PAR 90 PAR 180 top MFIs 29-31 growth in GLP GLP loan amount disbursed clients branches state analysis 32-37 GLP loan amount disbursed clients branches Insurance 38 annexures 39-47 aggregated data individual MFI s data state level data list of MFIs 3
summary (as of 30 th June 2013) 9,269 branches 62,592 employees 24.8 mn clients Rs 213 bn GLP 4.8 mn loans disbursed Rs 65 bn loan amount disbursed (in Q1 FY 13-14) 23.3 mn lives insured Rs 353 bn sum insured 4
introduction The sixth issue of the MFIN MicroMeter provides an overview of the Indian Microfinance Industry, as of 30 th June 2013, and a comparative analysis with the corresponding quarter of previous fiscal year (Q1 FY 12-13) and previous quarter of the last fiscal year (Q4 FY 12-13). The analysis presented in this issue is based on data collected from 42 MFIs ( 40 MFIN members and 2 non-mfin members) which on an aggregated basis, constitute around 85% of the microfinance business in the country (excluding SHGs) Highlights Compared to the Q1 FY 12-13 industry GLP grew by 20%, MFIs other than CDR companies grew by 40% The GLP growth has been fairly broad based, with 70% of MFIs showing an increase in GLP over Q1 FY 12-13 Loans disbursals during Q1 FY 12-13 increased by 56%, CDR MFIs grew by 11% and other MFIs by 67% Overall, the branch network and staff strength of MFIs continued to drop directly contributed by CDR MFIs and a few smaller MFIs PAR figures (PAR 30, 90, 180) for the MFIs (other than CDR companies) remained under 1% for Q1 FY 13-14 Average loan amount disbursed, on a pan India basis, remained below Rs 15,000 Industry productivity ratios continued to improve in Q1 FY 13-14 Lending in states such as West Bengal, Tamil Nadu, Kerala, Bihar, Assam and Uttar Pradesh has shown high growth MFIs facilitate life insurance to over 23 mn clients with coverage of Rs 323 bn Notes Besides 40 MFIN members, this issue has data from two other MFIs Anjali and Cashpor 6 MFIs grouped as CDR (Corporate Debt Structuring) MFIs are Asmitha, BSFL, FFSL, Share, Spandana and Trident. Rest of the MFIs are grouped as other MFIs MFIs have been further grouped based on GLP as on 30 th June 2013 Financial data does not include data from L & T Finance and Muthoot (Panchratna) as microfinance is a small portion of total company portfolio PAR and state wise disbursement data does not include data from SKS Data on lives covered under insurance does not include data from ESAF and SKS Data on value of sum insured does not include data from ESAF, Janalakshmi and SKS 5
181.63 217.26 213.32 70.01 65.39 56.94 111.63 151.87 156.38 6.45 8.23 8.22 15.20 22.57 24.21 89.98 121.07 123.96 operational data GLP % change Total (all MFIs) CDR MFIs over Q1 FY 12-13 17% 19% 40% over Q4 FY 12-13 2% 13% 3% As of 30 th June 2013, aggregate GLP of MFIs stood at Rs 213.32 bn growth of 17% over Q1 FY 12-13 CDR MFIs: Decrease of 19% in GLP over Q1 FY 12-13 Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 : Increase of 40% in GLP over Q1 FY 12-13. Medium sized MFIs i.e. MFIs with GLP between Rs 1-5 bn registered highest growth of 59% over Q1 FY 12-13 Total (all MFIs) CDR MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 glp (Rs 6
26.86 29.52 16.76 5.66 5.57 0.28 21.20 23.95 16.48 0.64 1.10 0.92 2.33 3.85 2.62 18.23 19.00 12.94 operational data managed portfolio % change Total (all MFIs) CDR MFIs over Q1 FY 12-13 38% 95% 22% over Q4 FY 12-13 43% 95% 31% On a pan India basis, managed portfolio stood at 8% of GLP. Comparable number was 15% for Q1 FY 12-13 CDR MFIs: Decrease of 95% in managed portfolio over Q1 FY 12-13 Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 : Decrease of 22% in managed portfolio over Q1 FY 12-13 Total (all MFIs) CDR MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 managed porfolio (Rs 7
41.57 83.62 65.03 10.36 8.65 33.75 73.26 56.39 2.51 4.23 3.04 4.90 12.28 9.55 26.34 56.75 43.79 7.82 operational data loan amount disbursed % change Total (all MFIs) CDR MFIs over Q1 FY 12-13 56% 11% 67% over Q4 FY 12-13 22% 17% 23% During Q1 FY 13-14, members disbursed Rs 65.03 bn, an increase of 56% over Q1 FY 12-13. However, loans amount disbursed decreased by 22% compared to Q4 FY 12-13 as disbursement activity typically peaks during the last quarter of the financial year Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 CDR MFIs: Increase of 11% in loan amount disbursed over Q1 FY 12-13 : Increase of 67% in loan amount disbursed over Q1 FY 12-13. MFIs with GLP between Rs 1-5 bn had the highest growth rates of 95% Total (all MFIs) CDR MFIs (GLP < Rs 1 loan amount disbursed (Rs (GLP > Rs 1-5 (GLP > Rs 5 8
3.37 6.21 4.78 0.69 0.60 2.79 5.52 4.18 0.21 0.28 0.21 0.57 0.39 0.88 0.71 2.20 4.36 3.26 operational data loans disbursed % change Total (all MFIs) CDR MFIs over Q1 FY 12-13 42% 5% 50% over Q4 FY 12-13 23% 13% 24% During Q1 FY 13-14, MFIs disbursed 4.78 mn loans, an increase of 42% over Q1 FY 12-13. However, loans disbursed decreased by 23% compared to Q4 FY 12-13 as disbursement activity typically peaks during the last quarter of the financial year Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 CDR MFIs: Increase of 5% in loans disbursed over Q1 FY 12-13 : Increase of 50% in loans disbursed over Q1 FY 12-13. Highest growth rates came from MFIs with GLP between Rs 1-5 bn as this group increased their loans disbursed by 85% Total (all MFIs) CDR MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 loans disbursed (mn) 9
22.97 24.96 24.76 7.69 7.31 6.21 15.28 17.65 18.55 1.04 1.14 1.11 11.95 13.91 14.70 2.29 2.61 2.74 operational data clients % change Total (all MFIs) CDR MFIs over Q1 FY 12-13 8% 19% 21% over Q4 FY 12-13 1% 15% 5% As of 30th June 2013, MFIs had 24.76 mn clients CDR MFIs: Decrease of 19% in clients over Q1 FY 12-13 : Increase of 21% in clients over Q1 FY 12-13 Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 Total (all MFIs) CDR MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 clients (mn) 10
24.88 27.19 26.28 9.27 8.87 7.32 15.61 18.32 18.96 1.04 1.06 1.03 12.26 14.59 14.99 2.31 2.66 2.94 operational data loan accounts % change Total (all MFIs) CDR MFIs over Q1 FY 12-13 6% 21% 21% over Q4 FY 12-13 3% 17% 3% As of 30 th June 2013, MFIs had 26.28 mn loan accounts CDR MFIs: Decrease of 21% in loan accounts over Q1 FY 12-13 Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 : Increase of 21% in loan accounts over Q1 FY 12-13 Total (all MFIs) CDR MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 loan accounts (mn) 11
9,758 9,293 9,269 3,332 2,791 2,676 6,426 6,502 6,593 811 664 660 4,492 4,617 4,627 1,123 1,221 1,306 operational data branches % change Total (all MFIs) CDR MFIs over Q1 FY 12-13 5% 20% 3% over Q4 FY 12-13 ~0% 4% 1% As of 30 th June 2013, member MFIs had 9,269 branches spread across 27 states. The branch network continued to shrink for the industry on aggregate basis. However, medium and large MFIs (other than CDR MFIs) increased their branch network by 16% and 3% respectively over Q1 FY 12-13 Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 Shrinkage in branch network being driven by two factors. First, MFIs under CDR continue to reduce their branches. Second, a few small MFIs are facing operational challenges and, therefore, are closing branches CDR MFIs: Decrease of 20% over Q1 FY 12-13 : Increase of 3% over Q1 FY 12-13 Total (all MFIs) CDR MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 branches 12
68,366 62,519 62,592 18,389 12,790 11,895 49,977 49,729 50,697 4,830 4,318 4,477 8,197 8,489 9,065 36,950 36,922 37,155 operational data employees % change Total (all MFIs) CDR MFIs over Q1 FY 12-13 8% 35% 1% over Q4 FY 12-13 ~0% 7% 2% During last year, the employee count decreased by over 5,000. Shrinkage in staff strength is being driven by two factors. First, MFIs under CDR continue to reduce head count. Second, a few small MFIs are facing operational challenges and reducing staff strength as a result Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 CDR MFIs: Decrease of 35% in the employee strength over Q1 FY 12-13 : Marginal increase of 1% in the employee strength in Q1 FY 13-14 over Q1 FY 12-13 Total (all MFIs) CDR MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 employees 13
42,126 40,685 40,933 10,601 7,991 7,433 31,525 32,694 33,500 3,124 2,740 2,780 24,339 25,058 25,572 4,062 4,896 5,148 operational data loan officers % change Total (all MFIs) CDR MFIs over Q1 FY 12-13 3% 30% 6% over Q4 FY 12-13 1% 7% 2% Loan officers count continue to decrease CDR MFIs: Decrease of 30% in the loan officers count over Q1 FY 12-13 Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 : Increase of 6% in the loan officers count in Q1 FY 13-14 over Q1 FY 12-13 Total (all MFIs) CDR MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 loan officers 14
7,909 8,703 8,615 9,108 8,943 9,170 7,306 8,604 8,430 6,180 7,239 7,380 6,649 8,662 8,840 7,530 8,704 8,433 operational data loan outstanding per client % change Total (all MFIs) CDR MFIs over Q1 FY 12-13 9% 1% 15% over Q4 FY 12-13 1% 3% 2% As of 30 th June 2013, loan outstanding per client is Rs 8,615, increase of 9% over Q1FY 12-13 CDR MFIs: Increase of 1% over Q1 FY 12-13 Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 : Increase of 15% over Q1 FY 12-13 Total (all MFIs) CDR MFIs (GLP < Rs 1 avg loan outstanding per client (Rs) (GLP > Rs 1-5 (GLP > Rs 5 15
12,349 13,461 13,593 13,664 15,009 14,349 12,080 13,268 13,484 11,967 15,215 14,255 12,708 13,944 13,413 11,980 13,007 13,449 operational data avg loan disbursed % change Total (all MFIs) CDR MFIs over Q1 FY 12-13 10% 5% 12% over Q4 FY 12-13 1% 4% 2% During Q1 FY 13-14, average loan disbursed was Rs 13,593 increase of 10% over the corresponding quarter of previous fiscal year Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 Total (all MFIs) CDR MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 avg loan disbursed (Rs) 16
operational data % change in GLP Around 71% MFIs (30) recorded positive growth over Q1 FY 12-13 % change over Q1 FY 12-13 % change over Q4 FY 12-13 400% 350% 300% 250% 200% 150% 100% 50% 0% -50% 0 10 20 30 40 50-100% 17
2,354 2,686 2,671 2,307 2,620 2,320 2,378 2,715 2,814 1,287 1,712 1,687 2,036 2,134 2,097 2,660 3,013 3,177 productivity clients per branch (wt avg) % change Total (all MFIs) CDR MFIs over Q1 FY 12-13 14% 1% 18% over Q4 FY 12-13 1% 11% 4% Clients per branch ratio has increased for both CDR MFIs and other MFIs. On an average, a MFI branch is currently serving 2,671 clients. Comparable number for Q1 FY 12-13 was 2,354 Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 Total (all MFIs) CDR MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 clients per branch 18
18.61 23.38 23.01 21.01 23.43 21.28 17.37 23.36 23.72 7.95 12.39 12.45 13.54 18.48 18.54 20.03 26.22 26.79 productivity GLP per branch (wt avg) % change Total (all MFIs) CDR MFIs over Q1 FY 12-13 24% 1% 37% over Q4 FY 12-13 2% 9% 2% An average MFI branch currently having a portfolio of Rs 23.01 mn Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 Total (all MFIs) CDR MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 GLP per branch (Rs mn) 19
545 614 605 725 915 835 485 540 554 334 415 401 563 532 532 491 555 575 productivity clients per loan officer (wt avg) % change Total (all MFIs) CDR MFIs over Q1 FY 12-13 11% 15% 14% over Q4 FY 12-13 1% 9% 3% An average MFI loan officer currently serving 605 clients. This is partly driven by the fact that CDR MFIs continue to have clients in Andhra Pradesh (though largely inactive) but have significantly reduced the loan officers Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 CDR MFIs: GLP per loan officer ratio has grown by 15% over Q1 FY 12-13 : Clients per loan officer ratio has grown by 14% over Q1 FY 12-13 Total (all MFIs) CDR MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 clients per loan officer 20
4.31 5.34 5.21 6.60 8.18 7.66 3.54 4.65 4.67 2.06 3.00 2.96 3.74 4.61 4.70 3.70 4.83 4.85 productivity GLP per loan officer (wt avg) % change Total (all MFIs) CDR MFIs over Q1 FY 12-13 21% 16% 32% over Q4 FY 12-13 2% 6% ~0% An average MFI loan officer currently has 6.05 mn portfolio. This is partly driven by the fact that CDR MFIs continue to have portfolio in Andhra Pradesh (though largely inactive) but have significantly reduced the loan officers Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 CDR MFIs: GLP per loan officer ratio has grown by 16% over Q1 FY 12-13 : GLP per loan officer ratio has grown by 32% over Q1 FY 12-13 Total (all MFIs) CDR MFIs (GLP < Rs 1 glp per loan officer (Rs mn) (GLP > Rs 1-5 (GLP > Rs 5 21
177.55 229.53 232.30 68.80 61.18 59.77 108.75 168.34 172.53 7.63 10.06 9.10 13.34 24.78 25.08 87.78 133.50 138.35 financial data total assets % change Total (all MFIs) CDR MFIs over Q1 FY 12-13 31% 13% 59% over Q4 FY 12-13 1% 2% 2% As of 30 th June 2013, MFIs have Rs 232.30 bn in assets, an increase of 31% over Q1 FY 12-13 CDR MFIs: Decreased their assets over Q1 FY 12-13 by 13% Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 : Increased their assets over Q1 FY 12-13 by 59% Total (all MFIs) CDR MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 total assets (Rs 22
-12.29-14.76 20.13 18.55 32.42 33.30 2.88 24.93 24.15 4.73 4.61 4.43 financial data total equity % change Total (all MFIs) CDR MFIs over Q4 FY 12-13 8% 20% 3% As of 30 th June 2013, MFIs have Rs 18.55 bn in equity CDR MFIs: Decreased their equity over Q4 FY 12-13 by 20% due to write-offs in Andhra Pradesh Q4 FY 12-13 Q1 FY 13-14 : Increased their equity over Q4 FY 12-13 by 3% Total (all MFIs) CDR MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 total equity (Rs 23
114.76 162.30 154.51 40.35 41.15 30.04 74.41 121.15 124.47 4.36 6.01 5.51 6.54 15.23 14.89 63.51 99.92 104.06 financial data outstanding borrowings % change Total (all MFIs) CDR MFIs over Q1 FY 12-13 35% 26% 67% over Q4 FY 12-13 5% 27% 3% As of 30 th June 2013, MFIs have outstanding borrowings of Rs 154.51 bn, an increase of 35% over Q1 FY 12-13 CDR MFIs: Decrease of 26% over Q1 FY 12-13 Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 : Increase of 67% over Q1 FY 12-13 Total (all MFIs) CDR MFIs (GLP < Rs 1 outstanding borrowings (Rs (GLP > Rs 1-5 (GLP > Rs 5 24
financial data total funding As of 30 th June 2013, MFIs received total debt funding of Rs 9.98 bn, 79% from Banks and rest from other Financial Institutions (FIs) However, smaller and medium MFIs have more than 60% of their funding from FIs from Banks from other FIs Large MFIs have their 91% funding from the Banks 2.1 2.1 0.7 7.9 7.9 7.0 0.3 1.1 0.2 0.7 Total (all MFIs) CDR MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 25
2.08 2.08 0.26 0.42 1.40 financial data securitization During Q1 FY 13-14 members have done securitization worth Rs 2.08 bn, with large MFIs accounting for 67% of the securitization transactions Total (all MFIs) CDR MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 securatization (Rs 26
21% 16% 15% 50% 52% 56% 2% 0.5% 0.4% portfolio quality PAR 30 (%) CDR MFIs: PAR 30 increased in Q1 FY 13-14 to 56% from 50% in Q1 FY 12-13 : Continue to maintain high portfolio quality with PAR 30 less than 1% in Q1 FY 13-14 Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 PAR data not reported for SKS Total (all MFIs) CDR MFIs PAR 30 (%) 27
20% 16% 15% 50% 52% 56% 1.5% 0.5% 0.4% 20% 16% 15% 50% 52% 56% 1.4% 0.4% 0.3% portfolio quality PAR 90 and PAR 180 (%) Q4 FY 11-12 Q3 FY 12-13 Q4 FY 12-13 Q4 FY 11-12 Q3 FY 12-13 Q4 FY 12-13 Total (all MFIs) CDR MFIs Total (all MFIs) CDR MFIs PAR 90 (%) PAR 180 (%) PAR data not reported for SKS 28
top MFIs GLP growth rates MFIs with GLP < Rs 1 bn Change % over Q1 FY 12-13 (corresponding quarter previous FY) Change % over Q4 FY 12-13 (previous quarter) MFIs with GLP > Rs 1 bn Change % over Q1 FY 12-13 (corresponding quarter previous FY) Change % over Q4 FY 12-13 (previous quarter) Saija 341% Janalakshmi 167% Annapurna 258% Utkarsh 134% Disha 116% Arohan 120% Chaitanya 92% Satin 102% SVCL 84% Sonata 101% Disha 27% Arohan 23% M Power 14% Suryodaya 23% Arman 10% Sonata 23% Fusion 10% Janalakshmi 20% Chaitanya 8% Utkarsh 15% 29
top MFIs GLP and loan disbursed Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 Bandhan 43.32 Bandhan 15.84 SKS 23.45 SKS 8.30 Spandana 22.68 Spandana 4.41 Share 18.28 Ujjivan 4.33 Ujjivan 12.13 Janalakshmi 4.17 Equitas 11.98 Equitas 3.06 Janalakshmi 11.40 Grama Vidiyal 2.96 Asmitha 10.16 Share 2.36 Satin 6.03 Cashpor 2.31 Grama Vidiyal 5.43 GLP (Rs Muthoot (Panchratna) 1.75 loan disbursed (Rs 30
top MFIs clients and branches Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 Q1 FY 12-13 Q4 FY 12-13 Q1 FY 13-14 Bandhan 4.65 Bandhan 1,804 SKS 4.44 SKS 1,255 Spandana 2.39 Spandana 1,070 Share 2.12 Share 841 Equitas 1.50 Asmitha 460 Ujjivan 1.07 Ujjivan 310 Asmitha 0.97 Equitas 292 Janalakshmi 0.84 Grama Vidiyal 285 Grama Vidiyal 0.73 Cashpor 264 Cashpor 0.58 clients (mn) Madura 194 branches 31
state analysis number of MFIs Madhya Pradesh joins Tamil Nadu as top state with largest number of MFIs Gujarat, Maharashtra, Karnataka, Bihar, Uttar Pradesh are other major states in terms of number of MFIs operating MP TN Gujarat Maharashtra Karnataka Bihar UP WB Odisha Rajasthan UK AP Delhi Haryana CGH Jharkhand Assam Kerala Pondicherry Goa Punjab Tripura Meghalaya Chandigarh Sikkim D&N J&K 1 1 2 2 3 4 4 4 6 6 6 7 7 8 9 9 11 11 11 12 14 14 15 17 17 19 19 32
state analysis GLP growth Gujarat, Punjab, Delhi, and Haryana, are fastest growing states in terms of GLP, followed by Assam, Madhya Pradesh, Sikkim and Uttarakhand Gujarat Punjab Delhi Haryana Assam Pondicherry MP Sikkim UK UP Bihar Meghalaya D&N Tripura CHG TN MH JHK 8.93% 8.51% 7.23% 6.41% 6.32% 5.17% 3.71% 2.97% 2.80% 2.01% 1.85% 1.51% 0.59% 0.53% 0.26% 14.81% 21.32% 24.81% 33
state analysis GLP AP remains the top state in terms of GLP as significant non-performing portfolios continue to stay on the balance sheet of MFIs Top 5 states (Andhra Pradesh, West Bengal, Tamil Nadu, Karnataka and Maharashtra) account for 59% of the portfolio 4% Others 15% Andhra Pradesh 16% 4% 5% West Bengal 13% 5% UP 7% Tamil Nadu 13% Maharashtra 8% Karnataka 9% Bihar Madhya Pradesh Odisha Assam 34
state analysis clients AP remains the top state in terms of client outreach, though largely inactive clients After AP, West Bengal and Tamil Nadu have largest outreach followed by Karnataka and Maharashtra Others 14% Andhra Pradesh 15% Top 5 states (Andhra Pradesh, West Bengal, Tamil Nadu, Karnataka and Maharashtra) account for 60% of the clients 5% 5% 3% West Bengal 14% 6% Bihar 5% Maharashtra 8% Karnataka 9% Tamil Nadu 14% Bihar Madhya Pradesh Odisha Kerala 35
state analysis amount disbursed Tamil Nadu tops in terms of loans disbursed, followed by West Bengal, Uttar Pradesh, Karnataka, Maharashtra and Madhya Pradesh Top 5 states (Tamil Nadu, West Bengal, Karnataka, Maharashtra and Uttar Pradesh) account for 60% of the clients 4% 3% Others 14% Tamil Nadu 18% 6% West Bengal 16% 6% MP 6% Maharashtra 8% Karnataka 9% Uttar Pradesh 9% Madhya Pradesh Assam Gujarat Kerala Numbers given here do not include data from SKS 36
state analysis branches West Bengal, now has the largest branch network of MFIs, accounting for over 16% of the all India branch network Top 5 states (West Bengal, Tamil Nadu, Andhra Pradesh, Karnataka and Maharashtra) account for 58% of the branch network in the country 3% Others 15% West Bengal 16% 5% 5% Tamil Nadu 14% 7% Bihar 7% Uttar Pradesh 8% Karnataka 9% Andhra Pradesh 11% Bihar Madhya Pradesh Odisha Assam 37
353 mn Rs bn insurance lives and sum insured As of 30 th June 2013, MFIs facilitate life insurance to over 23 mn clients with total value of sum insured at Rs 353 bn 25 400 350 20 300 15 250 200 10 150 100 5 50 Data on lives covered under insurance does not include data from ESAF and SKS Data on value of sum insured does not include data from ESAF, Janalakshmi and SKS 0 23 number of lives insured value of sum insured 0 38
annex 1 aggregated data (30 th June 2013) GLP (Rs Total (all MFIs) CDR MFIs MFIs MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 (GLP < Rs 1 MFIs (GLP > Rs 5 (GLP > Rs 1-5 n=42 n=6 n=36 n=16 n=11 n=9 n=17 n=13 n=12 as of 30th June 2012 181.63 bn 70.01 bn 111.63 bn 6.45 bn 15.20 bn 89.98 bn 6.45 bn 21.74 bn 153.44 bn as of 30th June 2013 213.32 bn 56.94 bn 156.38 bn 8.22 bn 24.21 bn 123.96 bn 8.22 bn 30.03 bn 175.08 bn % change over Q1 FY 12-13 17% -19% 40% 27% 59% 38% 27% 38% 14% Clients (mn) as of 30th June 2012 22.97mn 7.69mn 15.28mn 1.04mn 2.29mn 11.95mn 1.04mn 3.31mn 18.62mn as of 30th June 2013 24.76mn 6.21mn 18.55mn 1.11mn 2.74mn 14.70mn 1.11mn 3.46mn 20.18mn % change over Q1 FY 12-13 8% -19% 21% 7% 20% 23% 7% 5% 8% Loan amount disbursed (Rs during Q1 FY 12-13 41.57 bn 7.82 bn 33.75 bn 2.51 bn 4.90 bn 26.34 bn 2.51 bn 5.88 bn 33.18 bn during Q1 FY 13-14 65.03 bn 8.65 bn 56.39 bn 3.04 bn 9.55 bn 43.79 bn 3.04 bn 10.30 bn 51.69 bn % change over Q1 FY 12-13 56% 11% 67% 21% 95% 66% 21% 75% 56% 39
annex 1 aggregated data (30 th June 2013) Total (all MFIs) CDR MFIs MFIs MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 (GLP < Rs 1 MFIs (GLP > Rs 5 (GLP > Rs 1-5 n=42 n=6 n=36 n=16 n=11 n=9 n=17 n=13 n=12 Branches as of 30th June 2012 9,758 3,332 6,426 811 1,123 4,492 811 1,532 7,415 as of 30th June 2013 9,269 2,676 6,593 660 1,306 4,627 660 1,611 6,998 % change over Q1 FY 12-13 -5% -20% 3% -19% 16% 3% -19% 5% -6% Employees as of 30th June 2012 68,366 18,389 49,977 4,830 8,197 36,950 4,830 14,061 49,475 as of 30th June 2013 62,592 11,895 50,697 4,477 9,065 37,155 4,477 10,978 47,137 % change over Q1 FY 12-13 -8% -35% 1% -7% 11% 1% -7% -22% -5% Loan Officers as of 30th June 2012 42,126 10,601 31,525 3,124 4,062 24,339 3,124 6,764 32,238 as of 30th June 2013 40,933 7,433 33,500 2,780 5,148 25,572 2,780 6,256 31,897 % change over Q1 FY 12-13 -3% -30% 6% -11% 27% 5% -11% -8% -1% 40
annex 1 aggregated data (30 th June 2013) Total assets (Rs Total (all MFIs) CDR MFIs MFIs MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 (GLP < Rs 1 MFIs (GLP > Rs 5 (GLP > Rs 1-5 n=42 n=6 n=36 n=16 n=11 n=9 n=17 n=13 n=12 as of 30th June 2012 177.55 bn 68.80 bn 108.75 bn 7.63 bn 13.34 bn 87.78 bn 7.63 bn 20.44 bn 149.47 bn as of 30th June 2013 232.30 bn 59.77 bn 172.53 bn 9.10 bn 25.08 bn 138.35 bn 9.10 bn 30.87 bn 192.33 bn % change over Q1 FY 12-13 31% -13% 59% 19% 88% 58% 19% 51% 29% Total equity (Rs as of 31st March 2012 20.13 bn -12.29 bn 32.42 bn 2.88 bn 4.61 bn 24.93 bn 2.88 bn 5.69 bn 11.56 bn as of 30th June 2013 18.55 bn -14.76 bn 33.30 bn 4.73 bn 4.43 bn 24.15 bn 4.73 bn 3.41 bn 10.41 bn % change over Q4 FY 12-13 -8% -20% 3% 64% -4% -3% 64% -40% -10% Outstanding borrowings (Rs as of 30th June 2012 114.76 bn 40.35 bn 74.41 bn 4.36 bn 6.54 bn 63.51 bn 4.36 bn 15.70 bn 94.70 bn as of 30th June 2013 154.51 bn 30.04 bn 124.47 bn 5.51 bn 14.89 bn 104.06 bn 5.51 bn 18.73 bn 130.26 bn % change over Q1 FY 12-13 35% -26% 67% 26% 128% 64% 26% 19% 38% 41
annex 1 aggregated data (30 th June 2013) Total funding received (Rs Total (all MFIs) CDR MFIs MFIs MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 (GLP < Rs 1 MFIs (GLP > Rs 5 (GLP > Rs 1-5 n=42 n=6 n=36 n=16 n=11 n=9 n=17 n=13 n=12 during Q1 FY 13-14 9.98 bn 7.90 bn 2.09 bn 2.08 bn.02 bn 353.17 bn.00 bn.27 bn.00 bn Securatization (Rs during Q1 FY 13-14 2.08 bn.00 bn 2.08 bn.26 bn.42 bn 1.40 bn.26 bn.42 bn 1.40 bn Average loan amount disbursed (Rs) as of 30th June 2012 12,349 13,664 12,080 11,967 12,708 11,980 11,967 12,795 12,303 as of 30th June 2013 13,593 14,349 13,484 14,255 13,413 13,449 14,255 13,703 13,534 % change over Q1 FY 12-13 10% 5% 12% 19% 6% 12% 19% 7% 10% Average loan outstanding per client (Rs) as of 30th June 2012 7,909 9,108 7,306 6,180 6,649 7,530 6,180 6,577 8,242 as of 30th June 2013 8,615 9,170 8,430 7,380 8,840 8,433 7,380 8,667 8,675 % change over Q1 FY 12-13 9% 1% 15% 19% 33% 12% 19% 32% 5% Clients per branch as of 30th June 2012 2,354 2,307 2,378 1,287 2,036 2,660 1,287 2,158 2,511 as of 30th June 2013 2,671 2,320 2,814 1,687 2,097 3,177 1,687 2,151 2,884 % change over Q1 FY 12-13 14% 1% 18% 31% 3% 19% 31% 0% 15% 42
annex 1 aggregated data (30 th June 2013) GLP per branch (Rs mn) Total (all MFIs) CDR MFIs MFIs MFIs (GLP < Rs 1 (GLP > Rs 1-5 (GLP > Rs 5 (GLP < Rs 1 MFIs (GLP > Rs 5 (GLP > Rs 1-5 n=42 n=6 n=36 n=16 n=11 n=9 n=17 n=13 n=12 as of 30th June 2012 18.61mn 21.01mn 17.37mn 7.95mn 13.54mn 20.03mn 7.95mn 14.19mn 20.69mn as of 30th June 2013 23.01mn 21.28mn 23.72mn 12.45mn 18.54mn 26.79mn 12.45mn 18.64mn 25.02mn % change over Q1 FY 12-13 24% 1% 37% 57% 37% 34% 57% 31% 21% Clients per loan officer as of 30th June 2012 545 725 485 334 563 491 334 489 577 as of 30th June 2013 605 835 554 401 532 575 401 554 633 % change over Q1 FY 12-13 11% 15% 14% 20% -5% 17% 20% 13% 10% GLP per loan officer as of 30th June 2012 4.31mn 6.60mn 3.54mn 2.06mn 3.74mn 3.70mn 2.06mn 3.21mn 4.76mn (Rs mn) as of 30th June 2013 5.21mn 7.66mn 4.67mn 2.96mn 4.70mn 4.85mn 2.96mn 4.80mn 5.49mn % change over Q1 FY 12-13 21% 16% 32% 43% 26% 31% 43% 49% 15% 43
annex 2 individual MFI s data (30 th June 2013) Sl no MFI GLP (Rs Cr) Loan amount disbursed, during Q1 FY 13-14 (Rs Cr) Active clients Branches Employees Sl no MFI GLP (Rs Cr) Loan amount disbursed, during Q1 FY 13-14 (Rs Cr) Active clients Branches Employees 1 Bandhan 4,332.06 1,584.28 46,47,177 1,804 11,877 2 SKS 2,345.24 830.49 44,39,031 1,255 9,959 3 Spandana 2,268.05 441.00 23,88,961 1,070 4,385 4 Share 1,828.37 236.47 21,24,136 841 3,655 5 Ujjivan 1,212.69 432.81 10,70,290 310 3,837 6 Equitas 1,198.38 306.30 14,96,370 292 2,443 7 Janalakshmi 1,139.79 417.38 8,41,509 95 2,324 8 Asmitha 1,015.57 112.33 9,70,007 460 1,942 9 Satin 603.30 152.27 5,27,035 161 1,476 10 Grama Vidiyal 543.04 295.86 7,28,441 285 2,314 11 Cashpor 516.57 231.28 5,81,459 264 1,638 12 GFSPL 504.59 128.82 3,68,240 161 1,287 13 ESAF 407.55 127.66 4,01,431 148 1,542 14 Smile 308.66 133.13 3,79,559 151 967 15 BSFL 248.81 19.26 3,74,834 159 1,397 16 Sonata 222.68 109.13 2,12,487 150 999 17 Utkarsh 205.72 88.03 2,17,296 105 682 18 FFSL 201.05 46.41 1,53,780 110 358 19 Suryodaya 187.87 72.51 1,79,357 48 411 20 Trident 132.07 9.31 1,97,636 36 158 21 Swadhaar 123.22 29.78 1,01,584 38 419 22 Asirvad 117.26 40.73 1,33,198 65 269 23 Arohan 111.24 46.67 1,36,654 67 462 24 Disha 96.80 38.95 77,074 33 249 25 VFS 96.40 31.07 1,50,531 101 732 26 SVCL 94.43 36.78 1,24,605 42 371 27 Belstar 91.78 21.53 88,029 57 462 28 Annapurna 88.76 16.40 91,469 38 358 29 Fusion 62.26 25.88 74,514 28 231 30 ASA 54.83 21.57 1,07,124 126 577 31 Samastha 45.28 12.82 47,824 29 179 32 Sarvodaya Nano 38.49 43.85 1,11,864 91 671 33 Arman 36.61 21.04 49,893 27 170 34 Chaitanya 34.21 14.35 30,359 24 163 35 Sahayata 26.59 0.00 80,647 0 12 36 Saija 25.72 11.71 35,611 7 119 37 Adhikar 15.22 3.51 25,652 41 89 38 M Power 13.71 4.49 15,836 6 59 39 Anjali 0.77 0.00 2,643 10 35 Data disclosed for only those MFIs who agreed to share the same Data given for Arman is only for its microfinance portfolio 44
annex 3 state level data (30 th June 2013) State Information on microfinance business based on 42 MFIs (as of 30 th June 2013) (based on data reported by MFIs for the MicroMeter) MFI Count Gross Loan Portfolio (mn) Number of Active Borrowers (mn) Number of Loan Loan Amount Disbursed Number of Disbursed (during Q1 (mn) Employees FY 13-14) (during Q1 FY 13-14) Number of Offices / Branches Tamil Nadu 19 27,762.57 3.38 768,060 10,209.70 8,890 269 Madhya Pradesh 19 10,389.05 1.34 269,212 3,564.30 3,253 204 Maharashtra 17 17,411.48 1.99 364,491 4,699.23 5,096 199 Gujarat 17 5,845.67.64 145,008 2,173.16 1,612 84 Karnataka 15 19,738.17 2.12 508,671 4,936.44 6,445 196 Uttar Pradesh 14 16,354.68 1.82 326,055 5,360.19 5,298 202 Bihar 14 11,102.04 1.46 250,739 3,720.71 4,112 141 West Bengal 12 28,692.41 3.43 574,908 9,043.52 9,984 150 Odisha 11 8,430.45 1.27 122,141 1,695.14 3,260 154 Rajasthan 11 4,177.83.52 65,840 1,075.90 1,627 117 Uttarakhand 11 1,465.62.18 29,587 466.07 405 28 Andhra Pradesh 9 34,134.60 3.66 13,425 418.29 3,958 133 Delhi 9 2,443.09.18 42,725 875.23 918 17 Haryana 8 1,526.74.16 28,322 483.44 455 48 Chhattisgarh 7 2,708.90.33 53,522 670.71 935 63 Jharkhand 7 2,520.01.36 48,949 662.60 1,045 64 Assam 6 7,916.54.73 191,980 3,181.50 1,691 28 Kerala 6 6,398.63.76 146,376 1,942.69 2,072 41 Pondicherry 6 439.75.05 12,133 158.62 190 7 Data only shown for the states where 5 or more MFIs are working 45
annex 3 state level data (30 th June 2013) Tamil Nadu MP MH Gujarat Karnataka Bihar UP WB Odisha Rajasthan UK AP Delhi MFIs = 19 MFIs = 19 MFIs = 17 MFIs = 17 MFIs = 15 MFIs = 14 MFIs= 14 MFIs = 12 MFIs = 11 MFIs = 11 MFIs = 11 MFIs = 9 MFIs = 8 Asirvad Asmitha Asmitha Adhikar Asmitha Anjali Asmitha Anjali Adhikar Asmitha Bandhan Asmitha Bandhan Asmitha Bandhan Bandhan Arman Belstar Arohan Bandhan Arohan Annapurna Bandhan BSFL BSFL BSFL Belstar BSFL BSFL Asmitha BSFL ASA BSFL ASA Asmitha BSFL Fusion Future Fusion Equitas Disha Equitas Bandhan Chaitanya Asmitha Cashpor Asmitha Bandhan Equitas Janalakshmi L&T Janalakshmi ESAF Equitas ESAF Disha Future Bandhan Fusion Bandhan BSFL Janalakshmi Sahayta Share Satin Future ESAF GV Equitas GFSPL BSFL Janalakshmi BSFL L&T Sahayta Satin SKS Share GV Fusion GFSPL Janalakshmi Janalakshmi Cashpor Satin L&T Sahayta Satin Share Spandana SKS GFSPL GV Janalakshmi L&T L&T Saija Share Sahayta SKS Share SKS Suryoday Ujjivan Janalakshmi Janalakshmi L&T M Power Muthoot Satin SKS Share Spandana SKS Sonata Trident Utkarsh L&T Sahayta Sahayta Muthoot Samastha Share Sonata SKS Suryoday SV Ujjivan Madura Satin Share Sahayta Share SKS Spandana Ujjivan Ujjivan Ujjivan Utkarsh Muthoot Share SKS Share SKS Ujjivan SV VFS Smile SKS Spandana SKS Spandana Utkarsh Ujjivan Samastha Sonata Suryoday Spandana Suryoday VFS Utkarsh Sarvodaya Spandana Swadhaar Suryoday Ujjivan Share SV Trident Swadhaar SKS Swadhaar Ujjivan Ujjivan Suryoday Trident Ujjivan Utkarsh Haryana CGH Jharkhand Assam Kerala Pondicherry Punjab Tripura Goa Meghalaya Sikkim CH (UT) J&K D & N MFIs = 8 MFIs = 7 MFIs = 7 MFIs = 6 MFIs = 6 MFIs = 6 MFIs = 4 MFIs = 4 MFIs = 4 MFIs = 3 MFIs = 2 MFIs = 2 MFIs = 1 MFIs = 1 Bandhan Annapurna Asmitha Anjali ESAF Belstar Janalakshmi Anjali Asmitha Bandhan Bandhan Satin Satin Bandhan Janalakshmi Bandhan Bandhan Arohan Muthoot Equitas Satin ASA Muthoot BSFL BSFL Ujjivan Sahayta BSFL BSFL ASA Share GV SKS Bandhan Spandana Ujjivan Satin ESAF Share Bandhan SKS Janalakshmi Ujjivan BSFL Ujjivan Share Share SKS Share Spandana Smile SKS SKS Spandana Ujjivan Ujjivan Ujjivan Sonata Spandana Ujjivan Ujjivan 46
annex 4 list of reporting MFIs Adhikar Anjali* Annapurna Arman Arohan ASA Asirvad Asmitha Bandhan Belstar BSFL Cashpor* Chaitanya Disha Equitas ESAF Fusion FFSL Grama Vidiyal GFSPL Janalakshmi L & T Finance M Power Madura Muthoot (Panchratna) Sahayata Saija Samasta Sarvodaya Nano Satin Share SKS Smile Sonata Spandana Suryodaya SVCL Swadhaar Trident Ujjivan Utkarsh VFS 42 MFIs as per this list contributed data for this publication non-mfin member 47
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