Annual Report 2018-19
Total Page：16
File Type：pdf, Size：1020Kb
FINSERVE PRIVATE LIMITED “Enduring Relationships...” ANNUAL REPORT 2018-2019 SAMBANDH FINSERVE PVT. LTD. C M Y CM MY CY CMY K C M Y CM MY FINSERVE PRIVATE LIMITED CY CMY “Enduring Relationships...” K CONTENT 1 Board of Directors ODISHA Sundargarh Jharsuguda Keonjhar 3 Management Team Mayurbhanj Khorda Sambalpur Deogarh Angul Balasore 9 Financial Spotlight Bhadrak Nabrangpur 13 Our Products 17 System Efficiency C M Y 19 Human Capital CM MY Chhattisgarh Raipur CY SPM & PE Raigarh CMY 21 Janjgir Bilaspur K Dhamtari Balod Occasions & Initiatives Mahasamund 27 that mattered most 32 Director’s Report 39 Annexures to Director’s Report 48 Corporate Governance Report 49 Secretarial Audit Report Jharkhand Ranchi Independent Auditor’s Report Simdega & Financials Ramgarh 52 Gumla East Singhbhum Vision Mission Sambandh envisages a Sambandh responsibly provides client socio-economically centric, inclusive financial and allied prosperous society. services to the small and marginal entrepreneurs, predominantly women to transform their livelihoods and household well-being. C M Y CM MY CY CMY K Core Value Philosophy Statement To be a listening and caring partner SFPL strives for excellence in service to individuals and households in quality through innovations in their journey to financial well-being product design & simplicity in service and economic freedom. delivery, by its committed employees who give utmost respect and empathy towards the target groups while being transparent in dealing and earning trust of the stakeholders which in turn brings recognition & rewards. Social Goals Provisioning of product & Building awareness & capabilities services that will have a lasting of our clients to take informed impact on clients’ livelihood and financial and business decision. household wellbeing. C M Y CM MY CY CMY K Enabling entrepreneurial clients, particularly women, to grow their business thereby creating jobs. Promotion of health, hygiene Encouraging Gender Diversity in and environment. the Organisation and striving to be a preferred employer. C M Y CM MY CY CMY K Chairman's Message Dear Readers, Unfolding yet another successful year, I am honored to I think one of the significant factors that makes me feel present the Annual Report for the FY 2018-19 and pleased proud that, Sambandh has believed in having a strong to state that the year has been truly a rewarding one client connect and has focused on the ground voices to in several aspects. Another eventful year of hard work guide the strategy and path of the organization. The field got added to the history of Sambandh. The distinctive staff of Sambandh, who are the bearers of change have C culture of Sambandh has helped to evolve as one of the always played a pivotal role in implementing the mission M best places to work, where employees are given the of Sambandh by building a strong client connect. And, flexibility to develop and implement their new ideas building up of a strong client connect requires dedication Y into practice and to a greater extent women employee and time. The relentless efforts of our field staff have time CM are given the leverage to develop themselves both on and again proved their efficiency and has contributed a MY personal and professional front. This is the vital factor larger portion to the Organization’s growth. Sambandh that drives performance and propels the organization has constantly thrived to identify the changing needs of CY towards excellence, thereby maintaining an equitable its existing and prospective clients and tried to innovate CMY gender balance which is achieved by accessing the same new products and services to make the ends meet in a K rewards and opportunities, equal pay for work of equal responsive and sustainable way. The organization treats or comparable value, regardless of gender. Building all its clients as preferred client abiding the core values, a culture that is gender-neutral, motivating men and mission and vision, keeping the corporate ethics intact. women to form working relationships and pursue goals In the coming year, we are looking forward to larger equally has been the focal point of Sambandh. goals, with new product innovations and exploring new As an organization, Sambandh is committed to create, geographies. Several other milestones were achieved ensure and enable a dignified and equitable work during the year and the report outlines some of our key environment for every employee. Being an employee achievements and how we got there. and client centric organization, it maintains the At the end of this eventful and successful year, I would highest level of professional and ethical standard in like to take this opportunity to extend my sincere thanks the conduct of its business affairs and entrust the to our clients, employees, partners, Board of Directors highest importance on enduring relationships among and well - wishers for their unflinching support towards the employees, clients and with its stakeholders. The attaining the goals of the Organization and ensuring organization has always intended that it’s business that the DNA of Sambandh is maintained. I look forward should be conducted in accordance with the prevailing to the same passion to continue in coming days in statutory and regulatory requirements with due focus achieving our mission. on efficiency, customer-orientation, principles and integrity. Sambandh believes that integrity is one of the My Congratulations to All key foundations for ethical behavior and accountability, Thank you which is an indispensable factor in the microfinance industry and have ensured that all its employees abide by Mr. Livinus Kindo this. IAS (Retd.) Chairman Message from MD & CEO Sambandh Johar!! It gives me immense pleasure to present to all our The addition of the Odisha State Office at Bhubaneswar esteemed stakeholders with the annual report for the last year, has positively helped the fund-raising initiatives Financial Year 2018-19. and bolstered our overall sustainability. The Financial Year 2018-19 has been a phenomenal year for Sambandh from many fronts. At the outset, I take this C opportunity to convey my deep sense of gratitude and M appreciation to all my colleagues across the organization ROA CRAR Yield to APR Y for their untiring efforts in helping the organization 1.41% 24.72% 94.04 scale new heights. We are also blessed to have a strong CM patronage of a multi-dimensional and experienced We have a strategic plan to make it a hub for back-office MY Board of Directors whose advise and crucial decisions operations going ahead. CY help in organizational alignment and achieve strategic This year we also celebrate in a big way to welcome a new goals. CMY investor in Sambandh. BOPA Pte. Ltd, an impact investor K Also, we feel privileged to get the guidance and headquartered in Singapore, with major operations support of various stakeholders to help Sambandh in in South East Asia, made its first Investment in India. reaching and serving thousands of clients who reside Mr. Christian Andersen the CEO of BOPA has put it on in difficult terrains with distance access to mainstream record that the uniqueness of Sambandh in terms of finances. I am thankful to our investors, more than 35 operating Geography, client connect, and employee Public/Private Sector Banks & FIs who have continuously culture were the key factors for investing in Sambandh. shown their trust on Sambandh. I reserve my special This is a special moment for us and encourages us to gratitude towards my Auditors, Rating & Consulting work more strategically in taking forward our SEDF Agencies, Credit Bureaus, Networking Partners and my (Sustainable Enterprise Development Framework) model well-wishers for their timely effort, sharing invaluable in achieving holistic development of the Chhotanagpur suggestions when it was required the most. Region. Sambandh shall further strengthen its presence by achieving key targets in Social Performance As on 31st March 2019, our portfolio and outreach stand Management (SPM), showing impact and connecting to at: the larger dimension of the United Nation’s Sustainable Development Goals in the coming year(s). I find it proper to summarize the year gone by as a ‘Year States Districts Branches of Strategy’ at Sambandh. The formulation of a Five-year 3 23 62 SBP under the ADB Institutional Development Project, kick started a ‘Strategic Deep Dive Exercise’, to develop a blue print for the next phase of organizational growth leading to Financial Year 2023. With a vintage of over a Active Clients POS (INR Mn) decade, Sambandh is very much a unique organization 1,74,341 3159.07 in many aspects. Keeping in line with the philosophy, Employees the Culture and the service DNA, a bottom up approach 576 and clear strategies were perceived across many levels of the organization. Building on the three ‘pillars of growth’ namely Digital Financial Services, Financial Wellbeing of Clients and Empowering Women, strategic dimension on geographic diversification, go to market strategy, and will result in the training of local youth in a talent management and leadership development, scale & sustainable business model. impact and regional focus were added. I would specially like to convey my heartfelt gratitude Buoyed with the infusion of new Capital in tandem with to ‘the ADB team’ for their whole heartedly support in Organisation development initiatives, we strongly developing the ‘Strategic Business plan’. We also stand marched ahead with an even stronger strategic to extensively benefit from the other initiatives namely implementation, which included: Institutional Strengthening, Consumer Protection Principles, Risk Management and Digital Financial 1. Field Operations – As a part of our growth strategy, Literacy. we welcomed Mr. Anup Ghosh as our new COO of the organization. Anup brings two decades of experience Way forward in the areas of risk and monitoring, rural banking and credit risk assessment. Given his experience in the Risk The micro finance sector in overall terms has made and MSME verticals, Anup will help in strengthening the strong strides.