July 23rd 2015, Jakarta – CreditAccess Asia reached its 150,000th client in Indonesia at the end of June.
The company achieved this remarkable goal in a little over three years since the launch of its operations in Indonesia. The growth of operations in the country has been driven by the expansion of both group lending, which entails micro-credit to low-income women, and the provision of individual loans.
CreditAccess Asia successfully launched an individual loan product last year. The product can satisfy the financial needs of small enterprises that have no access to credit from traditional banking institutions but are too large for micro-credit. The small businesses segment has substantial unmet credit needs and is an important catalyst for local employment creation.
This clients milestone came in the same month that CreditAccess opened 10 new branches in Indonesia. The company now has a network of 141 branches in the country, of which 12 are solely focused on its fast-growing individual lending business. The plan is to open 21 new branches by the end of 2015 when the company’s network is expected to be present in over 60 districts across 8 regions in the country.