CreditAccess Grameen Aims To Meet 40% Of Its Funding Needs Abroad

CreditAccess Grameen Ltd. on Tuesday said it aims to meet 40 percent of its fund requirements via borrowings from the international market in 2019-20.

The microfinance institution would raise 20 percent of its fund requirements via short-term borrowings, including securitisation and commercial paper, and the rest through medium- or long-term borrowings as the company looks to maintain a diversified funding portfolio, Udaya Kumar Hebbar, managing director and chief executive officer of CreditAccess Grameen, told BloombergQuint in an interview.

The company, which got listed in August last year, is not keen on applying for a bank licence, Hebbar said.

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