Microfinance Milestone: Swayam Krishi Sangam reaches 500,000 clients

Swayam Krishi Sangam (SKS) Microfinance, founded in 1997 by Dr. Vikram Akula, has accomplished a landmark that many microfinance institutions long for. As of January 31, SKS has reached 500,000 clients throughout India. Only a few microbanks anywhere in the world can claim a half million accounts. They include Grameen Bank, Association for Social Advancement (ASA), Bangladesh Rural Advancement Committee (BRAC), Bank Rakyat Indonesia (BRI), PROSHIKA (Bangladesh) , SHARE Microfin Ltd. (SHARE) (India), Spandana (India), and Caja Popular Mexicana according to the Mix Market clientele data. As of March 2006, SKS had a gross loan portfolio of USD 20,596,150 total assets of 26,814,820, a return on assets of 2.80% and a debt to equity ratio of 636.06%. Micro-Credit Ratings International Limited (M-Cril), a rating agency of microfinance, has given SKS, a rating of alpha for 2005.
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