May 12th 2015, Amsterdam – CreditAccess Asia NV, industrial operator of a group of owned credit institutions specialised in lending to artisans and micro-enterprises in India and South East Asia, has reached one million clients this month.
Over half of the world’s unbanked population resides in Asia (Worldbank 2015), equivalent to over one billion people in total. CreditAccess Asia responds by providing professional and customized financial services to local micro-entrepreneurs in this region.
“We are proud to have reached one million clients”, said Paolo Brichetti, CEO of CreditAccess Asia. “This result underscores the breadth and scope of the activities of our Group and the progress made by its individual regional companies in India, Indonesia and the Philippines.”
With a total portfolio of EUR 225 million and over 3800 employees, CreditAccess Asia has experienced strong growth since its establishment in 2008. Over the next 2 years the Group plans to expand operations to 1-2 new countries and it expects to grow its client base to over 2 million clients.
CreditAccess Asia is committed to seeking a stock exchange listing by 2017. The listing will maximise the liquidity of its shares and will enable the Group to raise capital to further extend its outreach to unbanked entrepreneurs in Asia.
The presence of the Group in Asian countries favours the geographic diversification of investors’ portfolios. In addition, the focus on the segment of artisans and micro-enterprises that do not have access to local banking services provides significant growth opportunities.