Grameen Koota microfinance leads,20 Indian MFIs in MIX global ranking

By Nagesh Narayana

Microfinance Focus, March 4, 2010: Bangalore-based NBFC-Microfinance, GFSPL ( Grameen Financial Services Pvt. Ltd) popularly known as Grameen Koota  was placed fourth in the rank of top 100 microfinance institutions in the world by the  Microfinance Exchange (MIX) in terms of performance in 2009. This year, 20 MFIs from India figured in the list of top 100 MFIs ranked by the MIX with GFSPL topping Indian MFIs.

GFSPL jumped from a rank of 180 in 2008 to 4 in 2009 with an overall percentile of 82.2% from its last year’s 68.9%.
Closely behind it is Hyderabad-based microfinance institution SKS Microfinance, ranked 7th with a percentile of 81.2%. Others in the list are Spandana ranked 8 with a 80.9 percentile, BASIX ranked 11 with 80.3%, SHARE at 12 with 80.3%, Bandhan at 13 with 80.3%.

Others in the list are VFS (15), AML (18), GV (20), SWAWS (23), GU (28), BISWA (31), Cashpor MC (33), SKDRDP (39), Saadhana (45), Sarvodaya Nano Finance (57), SMSS (78), BSS (84), ESAF (86) and NEED (89).

“Expanding access outside of the southern states, the hub of Indian microfinance over the last decade, has provided ample market for continued growth”, said a report released by MIX on Thursday.

In fact, Indian MFIs doubled in numbers from 10 to 20 in 2009 ranking of top 100, as their growth trends continued well into 2008 and 2009, an exception to the slower growth in other markets. Even as top performers halved their annual growth rates from 200% to 100%, Indian institutions in the top 100 managed to increase their client base by an additional 75% over the prior year, according to MIX.

Perennially low operating costs kept Indian MFIs achieving high marks in efficiency, the report noted. On average, these institutions ranked six percentage points above their peers in this category.

© 2010, Microfinance News. All rights reserved. 2008-09

5 Comments on “Grameen Koota microfinance leads,20 Indian MFIs in MIX global ranking”

  • Niranjan Sheelavant wrote on 5 March, 2010, 12:14

    Congrats team GK!!

    Keep it up. Congratulations to other MFIs too!

    Hope ranking would further increase commitment of MFIs towards betterment of conditions of clients. Hope MFIs would focus more on client security, financial literacy and need-based development interventions.  


  • pmrao wrote on 6 March, 2010, 17:45

    Harty congratulations to the entire team of G.K. While driving for continuous growth, I hope, MFIs, will give adequate attention to quality of service and focuss on diversified segments.

  • pmrao wrote on 6 March, 2010, 17:47

    Hearty congratulations. It is the teamwork and commitment helped in achieving such good ranking. Trust it will be continued.

  • Balasubramanya ML wrote on 8 March, 2010, 10:55

    Congrats all My GK colleague!!

    Keep it up. Congratulations to other MFIs too!

  • Denise Hughes wrote on 11 March, 2010, 5:19

    This is really impressive!

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