Satin Creditcare Network Limited
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Satin Creditcare Network Limited was conceptualized and founded in 1990. Around 30 years since inception, Satin today is India’s largest MFI, having started its journey with individual micro loans to urban shopkeepers. Today, the Company has an established, scalable and a sustainable business model. Satin offers its clients a variety of loan products under the MFI segment. Satin has over 1,100 branches and a headcount of more than 11,000 employees across 23 states and union territories. Satin has a strong presence throughout Uttar Pradesh, Bihar, Madhya Pradesh, Punjab, Assam, West Bengal and Odisha and is a dominant player in other states of operations.
What is our funding objective?
Acquiring equity exposure in Satin, the largest MFI in India with strong rural networks, enables FMO to meet its financial inclusion objectives
Why do we fund this investment?
Our funding supports the growth of Satin’s microfinance portfolio which is primarily focused on women micro-entrepreneurs, both rural and urban, who find themselves at the base of the pyramid. As such, the facility fully contributes to FMO’s goal to reducing inequalities.
What is the Environmental and Social categorization rationale?
E&S FI-C based on the nature (micro) of the portfolio. The company does not have exposure to activities on FMO’s exclusion list or IFC-PS triggered transactions. All transactions are screened in line with Satin’s exclusion list and in adherence to local law.
More investments
| Date | Total FMO financing |
|---|---|
| 3/14/2024 | INR 2130.00 MLN |
- Region
- Asia
- Country
- India
- Sector
- Financial Institutions
- Effective date
- 8/27/2020
- End date
- 2/29/2024
- Total FMO financing
- INR 96.83 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C