We plan to raise Rs. 5,000 crore, including debt and equity during the year to support our growth plans : HP Singh, Chairman, MD & HP Singh
Updated on: 09 Jun 2016
HP Singh, Chairman, MD & Promoter, SCNL is a law graduate and a fellow of The Institute of Chartered Accountants of India since 1984. He has over two decades of microfinance experience and pioneered the unique concept of daily collection of repayments of loans. Besides an expert in lending (especially microfinance) he has experience in the field of auditing, accounts, project financing, advisory services and company law matters. His financial engineering experience of almost three decades has helped the Company in operational strategy and efficiency. He is actively involved in SCNL's day-to-day operations and has been a vital source of inspiration since the Company's inception in 1990. Under his leadership, SCNL has grown into one of the leading microfinance institutions in North India and continues to expand its operations. He has participated in HBS Accion Program on Strategic Leadership for Microfinance in 2009 and leadership program organized by Women's World Banking at Wharton Business School, University of Pennsylvania in 2011.
Satin Creditcare Network Limited (SCNL) is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 5th largest MFI in the country. Incorporated in October 1990 as a Non-Banking Finance Company, SCNL started as an individual lending microfinance company. In May 2008, SCNL launched its group lending microfinance business. SCNL is an RBI-registered NBFC-MFI. At present, SCNL has a strong presence and serves its clients across Bihar, Chandigarh, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jammu, Jharkhand, Maharashtra, Madhya Pradesh, Punjab, Rajasthan, Uttar Pradesh, Uttrakhand and West Bengal (16 states).
Replying to Yash Ved of IIFL, H P Singh says "We plan to raise Rs. 5,000 crore, including debt and equity during the year to support our growth plans."
Give us an overview on the company's financials? For the financial year ended 2015-16, the total revenue expanded by 72% to Rs. 5,585mn in FY16 from Rs.3,242 in FY15.
Net interest income (NII) grew by 83% to Rs. 2,686 from Rs.1,467 in FY15.
Net interest margin (NIM) expanded from 9.2% to 9.9%.
Return on assets (ROA) improved from 2.0% to 2.2% while return on equity (ROE) improved from 18.6% to 22.1%.