Microfinance Focus, September 7, 2011: World Bank’s investment unit, IFC has made an equity infusion worth Rs. 135 crores in Indian microfinance major Bandhan. Bandhan Financial Services Pvtt. Ltd. is Kolkata based microfinance NBFC.

With IFC’s investment, Bandhan’s networth is projected to increase to nearly Rs. 650 crore by March 2012. The NBFC plans to reach out to nearly one million poor women and projects to disburse Rs. 5,300 crore during FY 2011-12 and increasing its loan book to Rs. 3,200 crore by March 2012.

In 2009, Bandhan raised Rs. 50 crores from SIDBI (Small Industries Development Bank of India).

“Equity infusion by IFC will help us increase our capital not only to reach out to additional 1,000,000 poor but also help build world class good governance and system. We are happy that like-minded institutions are joining hands to address the common objective of development of the poor”, said Mr. Chandra Shekhar Ghosh, Chairman & Managing Director, Bandhan.

Bandhan is currently reaching out to 3.5 million poor women through its network of over 1500 branches spread across 18 states of the country with a loan book of more than Rs. 2400 crore. The organization focuses on the Eastern and North-Eastern part of India