The Board of Directors of SKS Microfinance has approved its proposal for making an application to the Reserve Bank of India (RBI) for grant of a Small Finance Bank licence.
Meanwhile, the company’s portfolio excluding the states of Andhra Pradesh and Telangana registered a 35% year-on-year increase to Rs 3,195 crore from Rs 2,364 crore in Q3-FY14 (5% quarter-on-quarter growth -- Rs. 3,043 crore in Q2-FY15).
In Q3-FY15, loan disbursements stood at Rs 1,544 crore as against Rs 1,693 crore in Q2-FY15 (Rs 1,399 crore in Q3-FY14) while net interest income was at Rs 96 crore (Rs 110 crore in Q2-FY15, Rs 68 crore in Q3-FY14). The Company’s PAT stood at Rs 41.1 crore in Q3-FY15 (Rs 21.4 crore in Q3-FY14, Rs 56.8 crore in Q2-FY15).
The company had incremental draw-downs of Rs. 931 crore in Q3-FY15 (Rs 1,100 crore Q2 FY15) besides issuing Commercial Paper of Rs. 175 crore and completing securitization transactions of Rs. 391 crore rated as A1+ and AA (SO). As of December 31, 2014, SKS Microfinance had a net worth of Rs 998 crore and capital adequacy of 34.6% (without the Reserve Bank of India dispensation on the Andhra Pradesh and Telangana provisioning). Cash and cash equivalents stood at Rs 746 crore.
