MICROCAPITAL BRIEF: International Finance Corporation Places $22m Equity Investment In Ratnakar Bank of India

The International Finance Corporation, a member of the World Bank Group, has made an equity investment of USD 22 million in Ratnakar Bank, a private commercial bank in India, to promote Ratnakar’s efforts to increase access to finance for women in rural areas and agricultural micro-, small and medium-sized businesses, and is reportedly part of INR 3.2 billion (USD 59.3 million) in equity raised by Ratnakar through the issuance of 30 million new shares since January 2013. Details about the sizes of the states or identities of the other investors were not disclosed.

As of year-end 2012, Ratnakar Bank reported total assets of INR 7.2 trillion (USD 103 billion) and a return on assets (ROA) of 1.38 percent.

By Brian LeBlanc, Research Associate

About Ratnakar Bank

About Ratnakar Bank: Established in 1943, Ratnakar Bank is a private, commercial bank in India. For the year 2012, Ratnakar Bank reported total assets of INR 7.2 trillion (USD 103 billion) and a return on assets (ROA) of 1.38 percent.

About the International Finance Corporation

A member of the US-based World Bank Group, the International Finance Corporation (IFC) 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.

Sources and Additional Information:

International Finance Corporation press release, http://www.ifc.org/IFCExt/pressroom/IFCPressRoom.nsf/0/4ADE8F11194AC7CA85257B4A003BAC81?OpenDocument

MicroCapital article, August 29, 2012, “MICROCAPITAL BRIEF: Asian Development Bank, IFMR Capital to Guarantee $27m in Loans from Ratnakar Bank to Microfinance Institution in India,” https://www.microcapital.org/microcapital-brief-asian-development-bank-ifmr-capital-ratnakar-bank-provide-partial-credit-guarantee-for-loans-to-microfinance-institutions-in-india/

MicroCapital article, March 31, 2012, “MICROCAPITAL BRIEF: Jagaran Microfin of India Sells $3.3m in Securitized Microfinance Loans to Ratnakar Bank,” https://www.microcapital.org/microcapital-brief-jagaran-microfin-of-india-sells-3-3m-in-securitized-microfinance-loans-to-ratnakar-bank/

MicroCapital article, July 1, 2010, “MICROCAPITAL BRIEF: Vishwavir Ahuja Joins Board of Ratnakar Bank, a Commercial Bank in Kolhapur India,” https://www.microcapital.org/microcapital-brief-vishwavir-ahuja-joins-board-of-ratnakar-bank-a-commercial-bank-in-kolhapur-india/

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