Aditya Birla Finance (ABF), a non-banking financial company (NBFC) in India, has entered into the microfinance sector and has already closed a bulk financing deal with an unnamed Hyderabad-based microfinance institution (MFI). ABF is currently looking to form financing partnerships with other MFIs throughout the country. According to Sudhakar Ramasubramanian, the chief executive officer of ABF, “Microfinance is one of the fast growing segments in the financial services category with great future prospects. Aditya Birla Finance is looking forward to building a large and healthy portfolio over the next few years.” The expansion is in line with ABF’s strategy of introducing new products in order to achieve rapid growth while maintaining a large profit margin for its stakeholders. The financial details of the recent deal are not public.
About Aditya Birla Finance (ABF):
Aditya Birla Finance (ABF) is a non-banking financial company (NBFC) in India that offers a variety of financial services. Incorporated in 1991, the company works with both small and medium-sized enterprises (SMEs) and large corporate clients. It aims to provide its clients with “innovative and customized solutions to meet their short-term working capital needs.” Aditya Birla Finance is part of Aditya Birla Financial Services Group (ABFSG), a multinational group that provides a wide range of financial services including life insurance, fund management, distribution and wealth management, insurance broking, private equity and retail broking. There is no financial information available for Aditya Birla Finance.
By Conner Brannen, Research Assistant
Sources and Additional Resources:
Business Standard: “Aditya Birla Finance enters microfinance business,” June 17, 2010: http://www.business-standard.com/india/news/aditya-birla-finance-enters-microfinance-business/98338/on
MICROCAPITAL BRIEF: National Bank for Agriculture and Rural Development (NABARD) Plans to Open Rural Credit Bureaus in India, June 17, 2010: https://www.microcapital.org/microcapital-brief-national-bank-for-agriculture-and-rural-development-nabard-plans-to-open-rural-credit-bureaus-in-india/
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