MICROCAPITAL BRIEF: International Finance Corporation (IFC), Yes Bank to Create Fund for Small Businesses in India
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Friday, February 8, 2013

MICROCAPITAL BRIEF: International Finance Corporation (IFC), Yes Bank to Create Fund for Small Businesses in India

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has partnered with Yes Bank, a commercial bank headquartered in Mumbai, to establish a fund to support small businesses in northeast India. Funding decisions are to prioritize industries including food and agribusiness, infrastructure, healthcare, education and housing. The fund size and additional details of the partnership have not been released. As reported by MicroCapital at the time, IFC provided a loan of USD 75 million to Yes Bank in April 2012 to increase funding to small businesses and farms in India.

As of 2012, Yes Bank had INR 737 billion (USD 13.9 billion) in total assets, return on assets (ROA) of 1.6 percent and return on equity (ROE) of 24.9 percent. As of 2012, IFC reported total assets of USD 75.7 billion.

By Brendan Millan, Research Associate

About International Finance Corporation (IFC)
The International Finance Corporation (IFC), a member of the World Bank Group, offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. As of 2012, IFC reported total assets of USD 75.7 billion.

About Yes Bank

Yes Bank is a private-sector, commercial bank headquartered in Mumbai, India. The bank’s business lines include wealth management and institutional, corporate, investment and retail banking. The stated vision of Yes Bank is to offer “socially responsible” banking. The bank has developed a microfinance initiative known as Yes Sampann in collaboration with Accion, a Boston-based microfinance organization. As of 2012, Yes Bank had INR 737 billion (USD 13.9 billion) in total assets. As of 2012, return on assets (ROA) of 1.6 percent and return on equity (ROE) of 24.9 percent.

Sources and Additional Resources:

[1] International Finance Corporation: “IFC, Yes Bank to Establish Fund for Small Business in Northeast India” by Minakshi Seth, http://www.ifc.org/IFCExt/Pressroom/IFCPressRoom.nsf/0/9AB008EB5D23968785257B04003065CB

MicroCapital.org story, April 9, 2012, “International Finance Corporation (IFC) Lends $75m to Yes Bank of India to Increase Funding for Small Businesses, Farms in India”, http://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-lends-75m-to-yes-bank-of-india-to-increase-funding-for-small-businesses-farms-in-india/

MicroCapital.org story, January 5, 2011, “Microfinance Institutions (MFIs) in India Take Legal Action Against Yes Bank for Loan Recall”, http://www.microcapital.org/microcapital-brief-microfinance-institutions-mfis-in-india-take-legal-action-against-yes-bank-for-loan-recall/

MicroCapital Universe Profile: International Finance Corporation (IFC),
http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+%28IFC%29

MicroCapital Universe Profile for Yes Bank, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Yes

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