Satin Creditcare Network Limited

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Operational Update

Another Milestone Achieved!

Satin expanded its microfinance operations in the state of Bihar with the inauguration of "Gudari Bazar" Branch in Chhapra District on 24th December, 2011.

Welcome to the Satin Creditcare Network Limited (SCNL) !

Satin was formed in 1990 as a Non-Banking Finance Company (NBFC) with the simple concept of providing individual loans to urban shopkeepers to purchase generators for their businesses. Since that time, the company has expanded and evolved into one of the leading microfinance institutions in North India. Satin provides loans to both the urban and rural poor to meet their productive requirements in starting new businesses or growing existing ones. The company’s microfinance operation is based on the individual and group liability models. The company currently serves clients throughout Delhi, Uttar Pradesh, Punjab, Haryana, Rajasthan, Uttrakhand, Madhya Pradesh and Bihar. Satin is listed on Delhi, Jaipur and Ludhiana (All India) stock exchanges.

Satin has a mission to scale up its microfinance operations while remaining dedicated to its clients. We embrace the double-bottom line approach by focusing on both social and financial performance and firmly believe that microfinance is an effective tool to alleviate poverty.

News and Comments

	CARE has assigned “CARE BBB-"(Triple B Minus) rating to the long term facilities of Satin.
	CARE upgraded its grading on Satin from “MFI 3+ to “MFI 2" in July,2011.
	CRISIL has upgraded its ratings on Series A1 and Series A2 PTCs (backed by microfinance loan receivables originated by Satin) issued by Theta Pioneer IFMR Capital 2011 to ‘P1+ (so)’ from ‘P2+ (so)’, and to ‘P3+ (so)’ from ‘P4 (so)’ respectively.
	Satin has successfully completed its first listed NCD transaction amounting to Rs. 12 Crores
	Satin concluded its first single originated securitization transaction worth Rs. 792 Lacs during February 2011.
	Satin participated in Rs 308 million IFMR securitization pool to leverage funding from capital markets.
	Mr. H P Singh, CMD - Satin Creditcare Network Limited, attended the ‘Investment and Innovation Microfinance Asia Conference, 2011’ on 24 – 27 January held in Singapore. Mr. Singh was one of the speakers in panel discussion. He presented his views on ‘Individual Loans: Understanding The Risks Of An Emerging Alternative To Group Loans.
	Satin named as finalist for Srijan 2009 Emerging MFI Award –December 2009.
	Satin participated in SIDBI's 20th Foundation Day Celebration on 2nd April 2010.
	Satin's Social Performance Management Team participated in 2nd National Convention on Children's Right to Food held in Bhopal from 20-22 January, 2012.
	Satin's CMD Mr. H P Singh attended the session on "Savings First : Options for Low income Segments" as a panelist in Microfinance India Summit 2011.