The journey of delivering affordable financial services in emerging markets has evolved over the years. Specifically, FY 2017 presented new opportunities to achieve financial inclusion goals while there were also challenges that were overcome.
At the end of FY 2017, 762 financial service providers (FSPs) submitted outreach and financial performance data to MIX Market. Year-over-year lending growth remained steady at a rate of 9.8% in the number of active borrowers and 14.3% in the gross loan portfolio. In absolute figures, the total number of active borrowers grew to 120 million and the gross loan portfolio stood at USD 112 billion at the end of FY 2017.