New Delhi, Sep 16 (KNN) The Kolkata based Bandhan Bank has announced to increase its Microfinance loan portfolio to Rs. 1000 crore this year. Earlier the bank has lent Rs. 325 Crores to 8 MFIs across five states.

  Speaking at Sa-Dhan National Conference, CS Ghosh - MD & CEO, Bandhan Bank said, “It has been a long journey for the microfinance industry. It is heartening to see where it is today, despite many obstacles.”

He further said that Bandhan Bank has lent Rs. 325 crores to 8 MFIs across 5 states and added, “There are certain rules we as a Bank has to adhere to. We cannot have excess of unsecured loans. While there is the passion, there is a limitations. Buy we hope to increase MFI loan portfolio to Rs. 1,000 crore this year.”

Founded in 2001, under the leadership of Chandra Shekhar Ghosh, a senior Ashoka Fellow, BFSL, the organization has a network of 2,022 branches spread across 22 Indian states and Union territories, serviced by over 15,000 employees. As on 31 March, 2015, BFSL had a loan book of around ₹ 9,524 crore and an impressive repayment rate of over 99%.

Bandhan Financial Holdings is owned by Bandhan Financial Services Limited (BFSL), the largest micro finance organization in India. Its public shareholders include International Finance Corporation (IFC), Small Industries Development Bank of India (SIDBI), Caladium Investment Pte. Ltd. (a company managed by GIC Special Investments Private Limited), Bandhan Employees Welfare Trust, and a few individuals. (KNN Bureau)