MICROCAPITAL BRIEF: Standard Chartered Bank (SCB) Loans $16m to Indian Microfinance Institution (MFI) Janalakshmi Financial Services

The Indian unit of UK-based commercial institution Standard Chartered Bank (SCB) recently notified MicroCapital that it has disbursed a loan of INR 985 million (USD 15.5 million) to Janalakshmi Financial Services (JFS), an Indian microfinance institution (MFI).  Additional information regarding the terms of the loan is not available.

As of 2014, JFS reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 420 million, a gross loan portfolio of USD 342 million and 1.4 million active borrowers. As of 2013, JFS reported return on assets (ROA) of 1.97 percent and return on equity (ROE) of 8.64 percent. The MFI does not accept deposits. For the year 2012, Standard Chartered Bank reported total assets of USD 637 billion, return on equity (ROE) of 12.8 percent and has financed USD 1 billion to various MFIs in Asia and Africa.

By Makai McClintock, Research Associate

About Janalakshmi Financial Services (JFS):
Janalakshmi Financial Services (JFS) is a microfinance institution (MFI) located in India. It is focused primarily on offering loans and microinsurance in urban areas. As of 2014, JFS reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 420 million, a gross loan portfolio of USD 342 million and 1.4 million active borrowers. As of 2013, JFS reported return on assets (ROA) of 1.97 percent and return on equity (ROE) of 8.64 percent. The MFI does not accept deposits.

About Standard Chartered Bank (SCB):
Founded in 1969, Standard Chartered Bank (SCB) is a financial services company based in the United Kingdom. For the year 2012, SCB reported total assets of USD 637 billion, return on equity (ROE) of 12.8 percent and has financed USD 1 billion to various MFIs in Asia and Africa. SCB does not report to the US-based nonprofit Microfinance Information Exchange (MIX), and further financial information is not otherwise available.

Sources and Additional Resources

Information provided to MicroCapital by Standard Chartered Bank India

MicroCapital Universe Profile: Janalakshmi Financial Services (JFS), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Janalakshmi+Financial+Services+%28JFS%29

MicroCapital Universe Profile: Standard Chartered Bank, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Standard+Chartered+PLC

Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/

Similar Posts: