Dutch ABN AMRO Bank recently loaned Indian SKS Microfinance Private, Ltd., a microfinance institution (MFI), $4.5 million. With over å¥855 billion in total assets as of June 2005, ABN AMRO ranks as the 20th largest commercial bank in the world, measured by tier 1 capital (equity capital and disclosed reserves).
Established in 1997 as a “non-profit society”, SKS India began operations in microfinance services, then incorporated SKS Microfinance PrivateLtd (SKSML) in 2003 as a “for-profit spin-off” that took over the microfinance operations specializing in savings, loans, and insurance. As of June 2005, the organization had total assets just over $458 million and total loans close to $400 million for about 87,000 clients.
Additional Resources
1) Consultative Group to Assist the Poor (CGAP): “Microfinance Capital Markets Update” is the best source for monthly updates on debt and equity deals in microfinance.
2) “ABN AMRO: Profile.”
3) “SKS: Product and Services.”
4) “SKS Milestones.”
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