||MILESTONE- FUSION MICROFINANCE
|Jan – Mar 2018
- Certificate of appreciation for “50 fastest growing CEOs in India– 2018” presented to Devesh Sachdev, by The CEO Magazine
- Raised Tier II Capital rated BBB+ (Outlook: Stable), equivalent to Bank Loan Rating
- 375 branches on achieving milestone of 1500 Cr
- 21 new branches opened in Rajasthan, Odisha, West Bengal, Bihar and Jharkhand
- Lekshmi Bhargavi joined Fusion family as Vice President - HR and Administration
- Fusion contributed to Go Sports Foundation to support emerging athletes and their representation at major international events such as Commonwealth Games, Asian Games and the Olympics
- Skill Development Program Health Awareness and Sanitary Napkin Distribution Programs
- Portfolio crosses INR1500 Cr
- Total no of Active Loan Clients 983840
- Total Debt Outstanding INR 1605 Cr
|Oct- Dec 2017
- Total no. of Active Loan Clients 8,95,896.
- INR 496 Cr disbursed during 3rd Quarter..
- Total debt Outstanding INR 1123 Cr
- Reaching out to 153 poorest and backward districts out of 189 operating districts.
|July –Sept 2017
- Fusion featured amongst the ‘The 10 most valuable Non-Banking Financial Companies’ by Insight Success.
- Fusion got selected in the 15th Asian Network of Quality (ANQ) Congress held at Nepal for key contributions in the category of Change and Risk Management through Cashless Disbursement Project.
- Honored to host Ambassador of Belgium Mr. Jan LUYKX and his wife Mrs. Raka Singh
- Rating and Grading reaffirmed as MFI 2+ and BBB+ (Stable) by CARE Ratings.
- 41 new branches in Punjab, Himachal Pradesh, Odisha, Rajasthan, West Bengal. Bihar, Madhya Pradesh, Chhattisgarh and Jharkhand.
- Long service award given to 108 employees for their association and commitment to Fusion since 2010
| April - June 2017
- DeveshSachdev elected as Vice-President of Microfinance Institution Network (MFIN)
- Fusion receives ‘Best Usage of ICT in Rural Development’ award by Mr. Ravi Shankar Prasad (Union Minister for IT and Communication) at Business World Digital India Summit 2017
- Received 92% score in Code of Conduct Assessment done by M-CRIL
- Two digital branch operational at Uttar Pradesh and Punjab
- Expansion to two new states Rajasthan and West Bengal
- Total no of Active Loan Clients 752,777
- Gross Loan Portfolio Outstanding (Including Managed Portfolio)INR 854.77 Cr
- Business Correspondent INR 52.87 Cr
- Managed Portfolio INR 12.96 Cr
- Total Debt Outstanding INR 924.39 Cr
|Jan – March 2017
- Fusion completed 7 wonderful years of its journey in January 2017
- Long Service Award given to 103 employees for their association and commitment to Fusion since 2010
- Digital Literacy programs were organized at 7 districts of Madhya Pradesh and Uttar Pradesh. A huge number of people from the communities including our clients participated in the program who were made aware of the various modes of digital payment
- Fusion has contributed to World Wildlife Fund (WWF) for Biodiversity Conservation in Harike wetland in Punjab to promote environmental protection.
- Total Number of active clients is 6,82,369
|Oct – December 2016
- Fusion receives ‘Star of the Industry Awards’ under BFSI category from the Star Group.
- Total no of Active Loan Clients 6,31,238
- Gross Loan Portfolio Outstanding (Including Managed Portfolio) INR 740.84 Cr
- Business Correspondent INR 60.81 Cr
- Managed Portfolio INR 31.43 Cr
- Total Debt Outstanding INR 832.51 Cr
|July – September 2016
- Rs. 162 Cr raised from Creations Investments, Gawa Capital and our existing investors BIO & Oikocredit
- Asset Under Management (AUM) crosses Rs. 800 Cr
- Rating outlook has improved from BBB (Triple B) to BBB+(Triple B Plus)
- 39 new branches in Bihar, Madhya Pradesh, Uttar Pradesh, Haryana, Punjab, Odisha and Maharashtra
- Increased outreach to 99 backward districts
- Successful pilot of Cashless disbursements
- Customer suggestion boxes placed across all the branches
|April - June 2016
- More than INR 100 Cr of debt raised by issuing fresh Non-Convertible Debentures in this quarter.
- Mr. Frederic Lefebvre, French Member of Parliament, visited Fusion Head office to understand Microfinance in India and the work being done by Fusion in the sector.
- Operations started in Punjab and Maharashtra, footprints in eleven states.
- In continuous effort towards empowering our Human Resource M2i conducted First Batch of "Training of Trainers" Program for frontline managers.
|January – March 2016
- Fusion recognized as a S.T.A.R (Socially Transparent and Responsible) MFI by MIX and has successfully completed the MIX's 'Social Performance Desk Review' process.
- Asset Under Management (AUM) crosses Rs.600 Cr
- CEO,Devesh Sachdev appointed on the Board of MFIN
- 89 new branches operationalized in FY 2015- 16 in Punjab, Uttarakhand, Uttar Pradesh, Madhya Pradesh, Bihar, Jharkhand, Chhattisgarh and Haryana
- Fusion crossed 300,000 active loan clients and POS of INR 400 Crores.
- Fusion grading upgraded to MFI 2+ by CARE Ratings
- Rating outlook has improved from BBB- (Triple B Minus) to BBB (Triple B)
- Employee Toll - free helpline launched
- Strengthened document processing system by implementing Document Management System (DMS)
- Rs. 53 Cr Series - C Equity round successfully closed with BIO and Oikocredit
- More than Rs. 100 Cr raised by issuing NCD's
- Asset Under Management (AUM) crosses Rs. 300 Cr
- 25 new branches opened in Bihar, Madhya Pradesh, Uttar Pradesh and Haryana
- Subordinated Debt of Rs. 7 Cr (tier II capital) raised from SIDBI
- Started Business Correspondence program with Yes Bank
- Received Social Rating of Σβ+ on governance & strategy, social goals, responsibility to staff and client protection by M – CRIL
- Receives 'Best MFI of the Year 2014 Award' at 'Microfinance India Awards 2014' instituted by ACCESS
- Successfully raised funds by issuing Non-Convertible Debentures of 22 Cr to Foreign Investor
- Debt outstanding crosses INR 200 Cr
- IndusInd Bank has increased the credit limit to 35 Cr under the 'Business correspondent' (BC) program
- Received a score of 83% in Code of Conduct Assessment done by M-CRIL
- Successfully crossed Asset Under Management of 200 Crs
- Appointment of a Grievance Redressal Officer for addressing client grievances
- Further strengthened the funding base by placing 26.3 Crs of Non-Convertible Debentures on the Bombay Stock Exchange
- Featured in the list of India's 25 leading MFIs published by CRISIL
- Grading upgraded to MFI 2 by CARE
- Fusion has become endorser of SMART CAMPAIGN
- Launched Toll Free Number for client grievance redressal
- Received NBFC-MFI certificate from the Reserve Bank of India.
- Rating outlook has improved from BB (positive) to BBB (negative).
- Migrated to cloud based IT platform.
- Fusion became systemically Important NBFC as per RBI guidelines.
- Fusion crossed 100,000 active loan clients and POS of INR 100 Crores.
- SIDBI has sanctioned grant for capacity building to Fusion under PSIG program supported by DFID.
- ICRA has improved the rating outlook of Fusion from BB (stable) to BB (positive).
- Fusion has received fresh loan sanctions from IDBI Bank and Dena Bank.
- Fusion has crossed cumulative loan disbursement of INR 2000 Million since inception.
- Fusion has received bank rating of BB stable from ICRA.
- Fusion has received loan sanction of INR 75 Million from BNP Paribas, its first debt from International Bank.
- Fusion has received debt of INR 50 Million from IndusIand Bank, 2nd private bank to provide debt to Fusion.
- NMI has sanctioned Technical Assistance to Fusion. The support was provided for the capacity building of the employees through training, strengthening of HR systems and strengthening the social performance aspect.
- Achieved cumulative break-even in first quarter of FY 2013-2014.
- Fusion has signed technical assistance project with IFC to introduce Risk Management Framework and strengthen the risk function.
- CRISIL assigned mfR4 grading.
- Fusion raised fresh equity (series B) of INR 250 Million from NMI and existing investor incofin. Net worth is now INR 375 Million.
- Fusion now has 66992 Active Loan clients and Loan portfolio out-standing (including managed) of INR 568 Million.
- Maanaveeya Holding private limited sanction fresh debt of INR 75 Million in March 2013.
- The operating expense ratio (annualized) of Fusion Microfinances for year till date (April -12 to March -13 is 10.20%.
- The Par (>30 as on 31st March 2013 is 0.032%.
- Fusion received debt of INR 25 million from bank of Maharashrta (public sector bank) now fusion has debt from three public sector banks.
- Fusion received debt of INR 50 million from Ratnakar bank. First private sector bank to provide debt to fusion.
- The Operating expenses ration ( annualizes of fusion microfinance for the year till ate ( April 12 to November-12) is 10.05%
- SIDBI sanctioned Tier-ii equity of INR 30 million under India microfinance equity fund ( IIMEF)
- Reliance Capital sanctioned fresh term loan of INR 30 million
- Small ticker vehicle loan ( STVL) Loan portfolio reached INR 40.4 million and is 8.4 % of the total portfolio outstanding
- Fusion reached cumulative loan disbursement of INR 762 Million, Portfolio Outstanding of INR 375 Million and over 37,000 Active loan Clients
- CRISIL upgraded the grading of Fusion to mfr4
- Fusion started Credit Bureau check with Highmark from Nov 1 2011.
- Started its first STVL operations (used commercial vehicle branch)
- Registered separate sec-25 company "Fusion Saksham Development Foundation" to carry out the social and awareness activities among clients of Fusion
- Fusion closed the financial year with over 21000 active loan clients and loan portfolio outstanding of INR 122 million.
- Mfr5 grading awarded by CRISIL
- Received INR 50 million from Incofin as CCPS
- Month on month break-even reached
- Technical Assistance support from FMO
- Equity investment of INR 45 million from Incofin
- Started its operations in state of Madhya Pradesh
- Successful Acquisition of Aajeevika portfolio (INR 6.3 Million)
- Acquired Ambience Fincap Pvt. Ltd, and started the operations under the brand name of Fusion