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SKS Microfinance Ltd said on Tuesday that it had completed securitisation of its loan portfolios worth Rs 550 crore. The Hyderabad-based listed MFI had done this through two transactions of Rs 310 crore and Rs 240 crore with banks.
The securitisation was of receivables from 7.50 lakh micro borrowers (not from Andhra Pradesh) as defined by the Reserve Bank of India
“SKS Microfinance is delighted to bring back the assignment/securitisation of microfinance receivables, which had virtually ceased post the AP MFI Act,'' Mr S Dilli Raj, CFO, SKS Microfinance Ltd, said in a release.
“The transactions will further augment the liquidity position of SKS Microfinance. The transactions for Rs 310 crore represent the single largest rated pool assignment in the MFI sector,” he claimed.
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