The global microfinance market is growing at a significant CAGR of around 14.8% during the forecast period (2020-2026). Microfinance industry serves the low-income and more overlooked sections of the society. In the recent years, the microfinance industry has reached out a number of small borrowers with significant assistance from the government. Therefore, a modest growth in the global microfinance industry is seen in the last decade. The growth is supported by the continuous establishment of microfinance institutions across the globe. The World Bank estimated that over 7,000 microfinance institutions are operating across the globe, serving nearly 16 million low-income people in emerging economies, such as India and Bangladesh.

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Along with the growth of the microfinance institutions, the government support for women empowerment in rural areas is further offering growth to the microfinance industry. According to the Convergences World Forum, nearly 80% of the borrowers of microfinance were females in 2018. For instance, Grameen Bank in Bangladesh, women account for over 94% of all the loan borrowers, as per the Global Development Research Center (GDRC). Such factors offer a significant market capitalization for the microfinance industry during the forecast period. However, the outbreak of COVID-19 pandemic has significantly affected the microfinance industry. it can be seen that the revenue of the industry is threatened as the customers are affected by the global macroeconomic collapse, social distancing, and other COVID-19 norms to control the pandemic. Therefore, many microfinance institutions have suspended repayments, owing to which, there is no income coming-in to the industry.

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Global Microfinance Market Segmentation

By Service Type

• Group and Individual Micro Credit
• Insurance
• Leasing
• Others (Micro Investment Funds)

Regional Analysis

• North America
• United States
• Canada
• Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
• Rest of the World

Company Profiles

• Accion International
• Adie
• Asirvad Micro Finance Ltd. (Manappuram Finance Ltd.)
• Bajaj Finance Ltd.
• Bancamía S.A.
• Banco do Nordeste do Brasil SA
• Bandhan Bank Ltd.
• Bangladesh Rural Advancement Committee (BRAC)
• BSS Microfinance Ltd.
• CreditAccess Grameen Ltd.
• Equitas Small Finance Bank Ltd.
• Fusion Microfinance
• Grameen Bank
• ICICI Bank
• Jamii Bora Bank
• Kiva Microfunds
• microStart SCRL
• National Bank for Agriculture and Rural Development (NABARD)
• PT Bank Rakyat Indonesia Tbk
• Qredits Microfinanciering Nederland
• Ujjivan Financial Services Ltd.

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