CreditAccess Grameen

CreditAccess Grameen Limited
TypePublic Ltd. Co.
NSE: CREDITACC, BSE: 541770
IndustryFinancial Services
Founded1999
Headquarters
Bengaluru
,
India
Number of locations
1,967
Area served
16 states & 1 union territory
Key people
  • Udaya Kumar Hebbar (Managing Director)[1]
  • Ganesh Narayanan (Chief Executive Officer)[2]
ServicesFinancial services
RevenueIncrease ₹5,173 crore (US$540 million)[3] (2024)
Increase ₹1,446 crore (US$150 million)[3] (2024)
Total assetsIncrease ₹28,846 crore (US$3.0 billion)[3] (2024)
Total equityIncrease ₹6,570 crore (US$680 million)[3] (2024)
Number of employees
19,395[4] (2024)
RatingAA− stable
Websitewww.creditaccessgrameen.in

CreditAccess Grameen Limited (CA Grameen) is an Indian microfinance institution founded in 1999, headquartered in Bengaluru, which serves customers predominantly in rural areas.[5][6][7] The company is engaged in providing microfinance services to women from low-income households who are enrolled as members and organized in Joint Liability Groups.[8][9]

History

CreditAccess Grameen (CA Grameen) was established in 1999 by Vinatha M. Reddy, who was inspired by the book “Give Us Credit” by Alex Counts, President & CEO of Grameen Foundation USA.

Reddy, who was then running an NGO named the T. Muniswammapa Trust, managed to obtain a US$35,000 grant from the Grameen Foundation to replicate the model in India. As a result, Grameen Koota was born, and as the concept became more popular.

In 2007, the company was renamed Grameen Financial Services Private Limited.[10]

On March 14, 2008, the company changed its name, following which the Reserve Bank of India (RBI) issued a updated Certificate of Registration on July 28, 20092, to reflect the corporate name change.[10]

Since then, the former owners have made way for new promoters, including CreditAccess India B.V., a Dutch-based Asia-focused microfinance major that has invested INR 968 crore in CA Grameen since 2009. Udaya Kumar Hebbar joined as CEO in 2010, and has acquired a larger role as MD and CEO since 2016.[11]

On 23 August 2018, the company was listed on National Stock Exchange and Bombay Stock Exchange following its initial public offering.[12]

In September 2019, Citigroup partnered with CA Grameen to finance 75,000 Women Entrepreneurs in India.[13]

CreditAccess Grameen acquired Madura Micro Finance at the deal of INR 876 crore in November 2019.[14]

CA Grameen also invested INR 150 crore through subordinated debt in Madura Micro Finance in December 2021.[15]

U.S. International Development Finance Corporation, the US Government's development finance institution signed a loan agreement of US$35 million with CA Grameen in November 2022.[16][17]

In June 2023, CA Grameen signed a syndicated social loan facility of up to US$200 million, the first in the microfinance industry and the fourth in the country.[18]

Ganesh Narayanan was appointed as the CEO with effect from August 1, 2023, while Udaya Kumar Hebbar continues to oversee the firm as MD.[19]

In 2026, CreditAccess Grameen received Platinum Winner honors at the Global ESG Awards in the Women Empowerment category. The award recognizes institutions's commitment to gender inclusion and its work serving 4.5 million women borrowers in rural India.[20]

Operations

As of June 2026, the company's footprint spans 16 states and 1 UT, and has network of 2,276 branches with over 21,981 employees, serving more than 44 lakh customers.[21]

Governance

As of 2026, CreditAccess Grameen Limited Board of Directors includes.[22]

  • Manoj Kumar - Chairman and Independent Director
  • Paolo Brichetti - Vice-Chairman and Non-Executive Director
  • Ganesh Narayanan - Managing Director & Chief Executive Officer
  • Rekha Warriar - Independent Director
  • Lilian Jessie Paul - Independent Director
  • Udaya Kumar Hebbar - Non-Executive Director
  • Sumit Kumar - Non-Executive Director
  • Massimo Vita - Non-Executive Director

References

  1. ↑ "Northern Arc Capital facilitates $20 million ECB loan for CreditAccess Grameen". Thehindubusinessline.com. 13 April 2023.
  2. ↑ Ghosh, Shayan (27 November 2022). "Microfinance lenders go for secured loans to diversify risk". mint.
  3. 1 2 3 4 "CreditAccess Grameen Q2 2023-24 Report" (PDF). BSE India.
  4. ↑ "BSE India Report Credit Access Grameen" (PDF). BSE India.
  5. ↑ "Lending To The Bottom Of The Pyramid". Forbes India.
  6. ↑ "CreditAccess Grameen unveils NCD issue". The Hindu. 9 November 2022.
  7. ↑ "Improving reach, stable asset quality to drive performance of CreditAccess Grameen". The Economic Times.
  8. ↑ "creditaccess grameen hits record high; jumps 12percent in three days". Capitalmarket.com.
  9. ↑ "Smallcap stars shine bright! AstraZeneca Pharma, Kirloskar Industries and 4 others surge to new 52-week highs". The Economic Times. 23 June 2023.
  10. 1 2 "CreditAcc. Gram. Summary: Latest Updates and Details". Indiainfoline.com. Retrieved August 27, 2026.
  11. ↑ "CA Grameen: A Resilient Ecosystem". Fortuneindia.com. 3 March 2023.
  12. ↑ "CreditAccess Grameen's Rs 1,131-cr IPO to open on August 8, price band at Rs 418-422". Moneycontrol. 1 August 2018.
  13. ↑ "Inclusive Finance in India: Citi Partnering with CreditAccess Grameen to Finance 75,000 Women Entrepreneurs". Citigroup.com.
  14. ↑ "CreditAccess Grameen to acquire Madura Micro Finance for ₹876 cr". Thehindubusinessline.com. 27 November 2019.
  15. ↑ Ray, Atmadip (21 December 2021). "CreditAccess Grameen to infuse Rs 250 crore in subsidiary Madura Micro Finance". The Economic Times.
  16. ↑ "CreditAccess Grameen signs loan agreement with US International Development Finance Corporation". The Economic Times. 19 October 2022.
  17. ↑ "CreditAccess Grameen shares rise after raising $35 million from US International DFC". cnbctv18.com. 19 October 2022.
  18. ↑ Ray, Atmadip (27 June 2023). "CreditAccess Grameen signs a $200 million external commercial borrowing deal". The Economic Times.
  19. ↑ "CreditAccess Grameen appoints Ganesh Narayanan as CEO". Thehindubusinessline.com. 25 July 2023.
  20. ↑ "Awards and Recognition". Creditaccessgrameen.in. May 21, 2018. Retrieved August 27, 2026.
  21. ↑ "Enabling rural transformation by igniting the spirit of enterprise". Creditaccessgrameen.in. Retrieved August 27, 2026.
  22. ↑ "Board of Directors". Creditaccessgrameen.in. May 22, 2018. Retrieved August 27, 2026.
This page is issued from Wikipedia. The text is available under Creative Commons Attribution-Share Alike 4.0 unless otherwise noted. Additional terms may apply for the media files.