MFI Report

Trident Microfin Private Ltd. (formerly Annapurna Financial Services Pvt Ltd) is a new generation microfinance institution established in 2007 and headquartered at Hyderabad in Andhra Pradesh, India. The Company was promoted by highly qualified microfinance professionals with the motto 'to reach the unreached'. The overarching goal of the company is to provide comprehensive financial and business solutions to low income individuals and enterprises. Annapurna Financial Services Private Limited (“AFSL”) is a private microfinance institution headquartered in Mancherial in Adilabad district in Andhra Pradesh, India. The Organisation is promoted by a seasoned microfinance and development professional. The overarching goal of the Organisation is to provide comprehensive financial and business solutions to low income individuals and enterprises. A combination of servicing methodologies is being explored with an ultimate objective of ‘no bankable poor left behind’ in the areas of operation. Initially the Organisation was registered as non-profit Society (NGO) by name Trident Seva Society and within 6-8 months time transformed into Non-Bank Finance Company (NBFC) by raising private commercial capital from like-minded investors. AFSL attracted a greater business demand than anticipated. As a result, by 31 March 2008, within 10 months of starting activities, AFSL (including Trident Seva Society) had disbursed over Rs. 6.5 Crores to over 8,200 borrowers while maintaining 100% on-time repayment rate. In September 2008 AFSL acquired the microfinance wing of MaxWealth Trust, an organization based in Hyderabad. As of 30 September 2008 the results of combined operations of AFSL and MaxWealth was 27.9 crores disbursed to over 55,000 active clients. Cacher