MIX Says: Ten Indian MFIs in global top 100 ranking

Microfinance might have been conceptualized, piloted and rolled out first in Bangladesh, but the last half decade has shown that the Indian MFIs are the best practitioner of Microfinance in the World. This is clearly exemplified in the ‘The annual MIX Global 100 Composite Ranking’ which features 10 Indian microfinance institutions in the list.

The MIX list selected the top 100 institutions from a sample of 652 firms based on three key attributes: outreach, efficiency, and transparency. The performance of these institutions was measured for each area relative to other firms in the sample. “Leading the South Asian contingent, India was the only country with 10 or more MFIs in the ranking, seven of which scored in the top 50,” MIX said in the report. “Five other countries posted five or more MFIs, including Cambodia, Bosnia, Colombia, Ecuador and Morocco.”

The report further says, ‘Leading that S. Asian contingent, India was the only country with 10 or more MFIs in the ranking, seven of which scored in the top 50’. Five other countries posted five or more MFIs, including Cambodia, Bosnia, Colombia, Ecuador and Morocco. Indian MFIs in the top 100 averaged above 50 percent growth in borrowers over the prior year, with the MFI in the second spot adding more than 200 percent more borrowers in the same year that it crossed one million clients. Top level efficiency also boosted their ranking, as Indian MFIs in the Composite Ranking kept costs to less than a quarter of the average, at 1.5 percent of GNI per capita, buoyed by low labor costs and high productivity.

Lets have a look at the MIX Global 100 Composite Ranking:

MIX Global 100 Composite Ranking: Top 50 MFIs

MIX Global 100 Composite Ranking: The Last 50 MFIs