The gross loan portfolio of microfinance institutions (MFIs) has increased 23 per cent in 2012-13, according to Microfinance Institutions Network data.
“This was a strong bounce-back from last year when growth had slumped to a negative 14 per cent,” Alok Prasad, Chief Executive Officer, MFIN, said in a release issued on Tuesday.
The loan disbursals during the year grew by 13 per cent compared to the previous year.
TN leads
Tamil Nadu now has the largest number of microfinance institutions among all States, while in terms of branch network, West Bengal tops.
The southern State now enjoys the No. 1 position, which Andhra Pradesh held till 2010, that is, before the microfinance crisis affected it.
Andhra Pradesh, West Bengal, Tamil Nadu, Karnataka and Maharashtra accounted for 64 per cent of the gross loan portfolio.
Highest growth
Kolkata-based Bandhan Microfinance registered the highest growth in clients and loans disbursed among MFIN members.
The debt-funding had also gone up 79 per cent to Rs 10,200 crore during the year under study compared to the previous year.