Asirvad Microfinance securitised portfolio with public sector bank

Asirvad Microfinance Ltd, the microfinance subsidiary of Kerala-based Manappuram Finance Ltd, Wednesday said it has securitised its microfinance portfolio amounting to Rs 250 crore with a public sector bank. This securitisation held last month, is the eighth tranche for the current financial year and the total pool securitised with different bank amounts to Rs 611 crore, a press release said.

The company has raised funds through term loans from banks and leading non-banking finance companies and also signed securitisation deals with banks, it said. Asirvad Microfinance currently serves to 1.6 million women members through its 930 branches across the country.

(With inputs from agencies.)