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Asirvad Microfinance reached 3,000 crore AUM

Kolkata, Dec 13 (UNI) Asirvad Microfinance Limited, microfinance subsidiary company of Manappuram Finance Limited has achieved a significant milestone of reaching Rs 3,000 crore micro-finance Assets under Management (AUM).
As per the statement of Managing Director, Mr. Raja Vaidyanathan, “Asirvad has been achieving an incremental Rs 100 crore AUM for past five months consistently and poised to reach Rs 3500 crore AUM by end of financial year. He further said that, Manappuram Finance is infusing Rs 150 crore into the company to aid further expansion of portfolio.” The company has been rated as A+ positive outlook by CRISIL and A+ rating by CARE.
Asirvad caters to 1.6 million women members through 930 branch network across 22 States pan India. Out of the branch network, 80 new branches were opened during the financial year. The major portfolio expansion for Asirvad came from eastern region with West Bengal crossing Rs 350 crore, Bihar Rs 250 crore and Orissa Rs 100 crore microfinance portfolio.
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