Rabo India provides INR350M to Asmitha Microfin

Microfinance Focus, Jan. 6, 2010: Rabo India has provided debt funds of INR 350 Million to Asmitha Microfin Ltd. Asmitha is presently serving over 1.36 million customers with a loan portfolio of about Rs. 990 crore ($220 million).
Asmitha has a network of over 540 branches across 140 districts in 14 states of India. Further, the institution has experienced rapid growth in the last three years and was highly rated by rating agencies CRISIL and M-CRIL, said a statement.
Asmitha has been listed as 29th best among the top 50 MFIs in the world, by Forbes Magazine. It aims to reach out to over 4 million clients with a portfolio of INR 50 billion by 2013.
“We are delighted to further our partnership with Asmitha to facilitate the expansion of lending to the underserved rural and primary producers. The Rabo relationship started with Ashmita in 2005 when in conjunction with the
Rabobank Foundation a loan was provided to support the growth during the early years of the institution. We are very pleased to see the continued growth of Asmitha” said Surojit Shome, CEO and Managing Director, Rabo
India.

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