Money & Banking

European Microfinance Award: ESAF SFB emerges runner-up

Our Bureau Kochi | Updated on November 16, 2018 Published on November 16, 2018

ESAF Small Finance Bank was chosen as the runner-up of the much-coveted European Microfinance Award 2018 on the theme ‘Financial inclusion through technology’ at the European Microfinance week held in Luxembourg. The theme of this year’s award highlighted the role of technology in advancing financial inclusion.

Advans, from Ivory Coast, was the winner, and KMF, from Kazakhstan, was also conferred the runner-up award, along with ESAF Small Finance Bank.

The three finalists where selected from 27 applications received from 22 countries.

The runner-up award comprises a certificate and prize money of €10,000, which is granted by the Luxembourg Ministry of Foreign and European Affairs - Development Cooperation and Humanitarian Affairs. The event is jointly organised by the European Microfinance Platform and Inclusive Finance Network, Luxembourg.

ESAF SFB was commended by the selection committee for its huge outreach (over 25 lakh clients), and its twin focus on back and front-end solutions.

“I am very happy that ESAF SFB could become a runner-up for the prestigious European Microfinance Award 2018. ESAF SFB has been notified to international standards for its efforts in implementing financial inclusion through tab-based technology among 2.5 million women across 12 States,” said K Paul Thomas, MD and CEO, ESAF Small Finance Bank.

Published on November 16, 2018
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