MicroCapital » Steven Craig http://www.microcapital.org Fri, 10 Feb 2012 19:29:37 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 MICROCAPITAL SPECIAL FEATURE: 2007 Equity Investments in Small and Medium Sized Microbanks, Part 3 of 3 http://www.microcapital.org/microcapital-special-feature-2007-equity-investments-in-small-and-medium-sized-microbanks-part-3-of-3/?utm_source=rss&utm_medium=rss&utm_campaign=microcapital-special-feature-2007-equity-investments-in-small-and-medium-sized-microbanks-part-3-of-3 http://www.microcapital.org/microcapital-special-feature-2007-equity-investments-in-small-and-medium-sized-microbanks-part-3-of-3/#comments Mon, 17 Dec 2007 06:30:48 +0000 Steven Craig http://www.microcapital.org/?p=1586 December 10, MicroCapital.org featured Part 2 of a series on 2007 Equity Investments in Small and Medium Sized Microbanks. Previously, detailed information was provided on institutions with less than USD 100 million in assets. Here, in Part 3, we provide detailed financial and outreach information on microbanks with total assets greater than USD 100 million and less than USD 200 million. The institutions are presented in ascending order based on asset size.

Legatum invested USD 25 million and Aavishkaar Goodwell invested USD 2 million in SHARE Microfin Limited. SHARE Microfin Limited is an Indian non-bank financial institution founded in 1992. Per its MIX profile, the institution had over 826,000 active borrowers as of March 2007. 100 percent of its clients are women. Financial data from March 2007 reveals assets of over equivalent USD 101 million and total loans of equivalent USD 91.68 million. The institution had a return on assets of 1.22 percent and a return on equity of 15.31 percent. Source: MIX Market

Lok Capital invested USD 2.25 million and JM Financial invested USD 9.75 million in Spandana. Spandana, or Spandana Sphoorty Innovative Financial Services Limited, is a non-bank financial institution founded in 1998 in India. Per its most recent data from March 2007 on MIX, Spandana has over 970,000 active borrowers. 99.90 percent of Spandana’s borrowers are women and the average loan balance per borrower is equivalent USD 93. The institutions March 2007 financial statement revealed total assets of equivalent USD 101.4 million and total loans of equivalent USD 89.8 million. The institution’s return on assets was 0.74 percent and its return on equity was 22.00 percent. Source: MIX Market

Several investments were made in FIE. FIE, or Fondo Financiero Privado para el Fomento a Iniciativas Economicas, is a non-bank financial institution in Latin America. Incofin made two investments in FIE, one totaling USD 360,000 and another USD 1.4 million. Triodos-Doen invested USD 165,729. Hivos-Triodos invested USD 129,245 and Triodos Fair Share invested USD 87,685. Founded in 1985, per its more recent data on MIX, FIE services over 71,000 active borrowers and over 100,000 savers. The average loan balance is equivalent USD 1,416 and the average savings balance is equivalent USD 536. The institution has total assets of equivalent USD 128.3 million and total loans of equivalent USD 101.0 million. At the end of 2006, FIE had a return on assets of 1.86 percent and a return on equity of USD 16.94 percent. Source: MIX Market

MICROCAPITAL SPECIAL FEATURE: 2007 Equity Investments in Small and Medium Sized Microbanks, Part 2 of 3

On December 5, MicroCapital.org featured Part 1 of a series on 2007 Equity Investments in Small and Medium Sized Microbanks. Here, in Part 2, we provide detailed financial and outreach information on microbank’s with total assets under USD 100 million. The institutions are presented in ascending order based on asset size.

Triodos Fair Share Fund made a USD 1 million investment to Cambodian Entrepreneur Building Limited. Cambodian Entrepreneur Building Limited, a non-bank financial institution founded in 1995, is based in Phnom Penh, Cambodia. According to its recent financial data on MIX, the institution had total assets of equivalent USD 13.2 million and total loans of equivalent USD 12.2 million. The institution’s return on assets was 3.97 percent and its return on equity was 17.18%. Cambodian Entrepreneur Building Limited serviced over 15,000 active borrowers at the end of 2006 of which 97.7 percent per women. The average loan balance was equivalent USD 813. The institution also supports over 500 savers with an average balance of equivalent USD 454. Source: MIX Market

AccessHolding made an investment of USD 430,414 in Socremo. Socremo, Banco de Microfinanças de Moçambique, is a bank in Mozambique, Africa. Per its MIX profile, Socremo was established in 1998 and currently has over 10000 active borrowers and over 8,000 savers. The average loan balance is equivalent USD 972 and the average savings balance is equivalent USD 182. Per its 2006 year end financial data, Socremo had assets of equivalent USD 13.46 million and a total loan portfolio of equivalent USD 9.9 million. Socremo experienced a -2.00 percent return on assets and a return on equity of -6.62 percent. Source: MIX Market

Crédit Du Sahel, an African credit cooperate, sold shares of equivalent USD 925,680. It was founded in 1997. As of its most recent data reported on MIX, the institution supports over 22,000 active borrowers and 45,000 savers. The institution has total assets of equivalent USD 16.2 million and total loans of equivalent USD 9.7 million. Crédit Du Sahel 2006 year end financial statement revealed a return on assets of 0.46 percent and a return of equity of 6.80 percent. Source: MIX Market

Oikocredit made an investment of USD 400,000 in Opportunity International Savings and Loans Limited. Opportunity International Savings and Loans Limited, or Opportunity Ghana, was founded in 2004. It is a non-bank financial institution based in Accra, Ghana. Per its most recent data on MIX, the institution has over 54,692 active borrowers and over 88,000 savers. The average loan balance is equivalent USD 303 and the average savings balance is equivalent USD 58. Per its June 2007 financial data, the institution had assets of equivalent USD 26.4 million and a total loan portfolio of equivalent USD 16.5 million. In 2006, the institution experienced a 4.52 percent return on assets and a return on equity of 13.16 percent. Source: MIX Market

Hivos-Triodos Fund made a loan of USD 300,000 to Fundacion Jose Nieborowski (FJN). FJN, founded in 1993, is a Latin America non-profit organization that promotes rural and urban micro-enterprise through micro-loans. Per most recent data on MIX, the organization has over 22,000 active borrowers of which approximately 53.90% are women. The average loan balance is equivalent USD 907. Per its year end 2006 financial data, FJN had total assets of equivalent USD 23.7 million and total loans of equivalent USD 20.1 million. Its return on assets was 6.28 percent and its return on equity was 28.51 percent. Source: MIX Market

AccessHolding, Black Sea Trade and Development, European Bank for Reconstruction and Development, International Finance Corporation (IFC), KfW, and LFS Financial Systems made investments totally over USD 4.8 million in Micro Finance Bank of Azerbaijan (MFBA). MFBA, founded in 2002, is an Eastern Europe microfinance institution in Azerbaijan. As of its 2006 MIX profile, MFBA has over 16,000 active borrowers and about 800 savers. Its 2006 year end financial data revealed total assets of equivalent USD 55.4 million and total loans of USD 47.2 million. The MFI’s return on assets was -0.93% percent and its return on equity was -5.30 percent. Source: MIX Market

The International Finance Corporation (IFC) invested USD 7.1 million in Banco Amigo. Banco Amigo, formally known as Banco Comercial del Noreste, S.A., is headquartered in Monterrey, Mexico, and opened to the public in May 2007. The bank received its banking license in November 2006. Prior to licensing, it operated as a non-bank financial institution since 2005. Banco Amigo’s June 2007 financial statement reveals total assets equivalent to USD 52.8 million, a debt/equity Ratio of 73 percent, and a -2.9 percent return on equity. Source: Banco Amigo

Triodos Fair Share Fund and Triodos-Doen invested USD 101,371 and USD 101,374 respectively in XacBank. XacBank, a bank based in Mongolia, was founded in 1998. Per its MIX profile, XacBank has over 56,000 active borrowers and over 82,000 savers. The average loan balance is equivalent USD 886 and the average savings balance is equivalent USD 445. XacBank has assets of equivalent USD 76.3 million and a total loan portfolio of equivalent USD 50.2 million. Per XacBank’s 2006 year end financial statement, it experienced a return on assets of 2.45 percent and a return on equity of 17.83 percent. Source: MIX Market

Several firms, lead by Sequoia Capital and Unitus, invested USD 11.5 million in SKS Microfinance Private Limited (SKSML). SKSML is an Indian microfinance institution founded in 1997. Per its most recent data on MIX, as of March 2007 SKSML has over 513,000 active borrowers of which 100 percent are women. The average loan balance for each borrower is equivalent USD 123. Per its March 2007 financial data, SKSML had total assets of equivalent USD 78.7 million and a total loan portfolio of equivalent USD 63.2 million. The institution’s March 2007 financial data revealed a return on assets of 1.75 percent and a return on assets of 9.22 percent. Source: MIX Market

The Andean Development Corporation (CAF) invested USD 200,000 in MICROFIN. MICROFIN, or MIKROFIN Banja Luka, is a non-bank financial institution in Bosnia and Herzegovina. MICROFIN was founded in 1997, and as March 2007 has over 40,000 active borrowers. The average loan balance per borrower is equivalent USD 2,186. Per its most recent financial data on MIX, March 2007, MICROFIN had total assets of equivalent USD 94.9 million and total loans of equivalent USD 89.2 million. Per its 2006 year end financial data, the institution had a return on assets of 4.80 percent and a return on equity of 17.45 percent. Source: MIX Market

MICROCAPITAL SPECIAL FEATURE: 2007 Equity Investments in Small and Medium Sized Microbanks, Part 1 of 3

2007 has proven to be a productive year for international microfinance equity investments in small and medium sized microbanks. The Microfinance Capital Markets (MCM) Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported 25 investments in 13 small and medium sized Microbanks by 21 investors.

The table below summarizes notable equity investments in small and medium sized microbanks, sorted by asset size. In the next few days, we will provide background and financial information on each investee institution.

Table 2007

]]> http://www.microcapital.org/microcapital-special-feature-2007-equity-investments-in-small-and-medium-sized-microbanks-part-3-of-3/feed/ 0 MICROCAPITAL SPECIAL FEATURE: 2007 Equity Investments in Small and Medium Sized Microbanks, Part 2 of 3 http://www.microcapital.org/microcapital-special-feature-2007-equity-investments-in-small-and-medium-sized-microbanks-part-2-of-3/?utm_source=rss&utm_medium=rss&utm_campaign=microcapital-special-feature-2007-equity-investments-in-small-and-medium-sized-microbanks-part-2-of-3 http://www.microcapital.org/microcapital-special-feature-2007-equity-investments-in-small-and-medium-sized-microbanks-part-2-of-3/#comments Mon, 10 Dec 2007 06:01:33 +0000 Steven Craig http://www.microcapital.org/?p=1566 On December 5, MicroCapital.org featured Part 1 of a series on 2007 Equity Investments in Small and Medium Sized Microbanks. Here, in Part 2, we provide detailed financial and outreach information on microbank’s with total assets under USD 100 million. The institutions are presented in ascending order based on asset size.

Triodos Fair Share Fund made a USD 1 million investment to Cambodian Entrepreneur Building Limited. Cambodian Entrepreneur Building Limited, a non-bank financial institution founded in 1995, is based in Phnom Penh, Cambodia. According to its recent financial data on MIX, the institution had total assets of equivalent USD 13.2 million and total loans of equivalent USD 12.2 million. The institution’s return on assets was 3.97 percent and its return on equity was 17.18%. Cambodian Entrepreneur Building Limited serviced over 15,000 active borrowers at the end of 2006 of which 97.7 percent per women. The average loan balance was equivalent USD 813. The institution also supports over 500 savers with an average balance of equivalent USD 454. Source: MIX Market

AccessHolding made an investment of USD 430,414 in Socremo. Socremo, Banco de Microfinanças de Moçambique, is a bank in Mozambique, Africa. Per its MIX profile, Socremo was established in 1998 and currently has over 10000 active borrowers and over 8,000 savers. The average loan balance is equivalent USD 972 and the average savings balance is equivalent USD 182. Per its 2006 year end financial data, Socremo had assets of equivalent USD 13.46 million and a total loan portfolio of equivalent USD 9.9 million. Socremo experienced a -2.00 percent return on assets and a return on equity of -6.62 percent. Source: MIX Market

Crédit Du Sahel, an African credit cooperate, sold shares of equivalent USD 925,680. It was founded in 1997. As of its most recent data reported on MIX, the institution supports over 22,000 active borrowers and 45,000 savers. The institution has total assets of equivalent USD 16.2 million and total loans of equivalent USD 9.7 million. Crédit Du Sahel 2006 year end financial statement revealed a return on assets of 0.46 percent and a return of equity of 6.80 percent. Source: MIX Market

Oikocredit made an investment of USD 400,000 in Opportunity International Savings and Loans Limited. Opportunity International Savings and Loans Limited, or Opportunity Ghana, was founded in 2004. It is a non-bank financial institution based in Accra, Ghana. Per its most recent data on MIX, the institution has over 54,692 active borrowers and over 88,000 savers. The average loan balance is equivalent USD 303 and the average savings balance is equivalent USD 58. Per its June 2007 financial data, the institution had assets of equivalent USD 26.4 million and a total loan portfolio of equivalent USD 16.5 million. In 2006, the institution experienced a 4.52 percent return on assets and a return on equity of 13.16 percent. Source: MIX Market

Hivos-Triodos Fund made an investment of USD 300,000 in Fundacion Jose Nieborowski (FJN). FJN, founded in 1993, is a Latin America non-profit organization that promotes rural and urban micro-enterprise through micro-loans. Per most recent data on MIX, the organization has over 22,000 active borrowers of which approximately 53.90% are women. The average loan balance is equivalent USD 907. Per its year end 2006 financial data, FJN had total assets of equivalent USD 23.7 million and total loans of equivalent USD 20.1 million. Its return on assets was 6.28 percent and its return on equity was 28.51 percent. Source: MIX Market

AccessHolding, Black Sea Trade and Development, European Bank for Reconstruction and Development, International Finance Corporation (IFC), KfW, and LFS Financial Systems made investments totally over USD 4.8 million in Micro Finance Bank of Azerbaijan (MFBA). MFBA, founded in 2002, is an Eastern Europe microfinance institution in Azerbaijan. As of its 2006 MIX profile, MFBA has over 16,000 active borrowers and about 800 savers. Its 2006 year end financial data revealed total assets of equivalent USD 55.4 million and total loans of USD 47.2 million. The MFI’s return on assets was -0.93% percent and its return on equity was -5.30 percent. Source: MIX Market

The International Finance Corporation (IFC) invested USD 7.1 million in Banco Amigo. Banco Amigo, formally known as Banco Comercial del Noreste, S.A., is headquartered in Monterrey, Mexico, and opened to the public in May 2007. The bank received its banking license in November 2006. Prior to licensing, it operated as a non-bank financial institution since 2005. Banco Amigo’s June 2007 financial statement reveals total assets equivalent to USD 52.8 million, a debt/equity Ratio of 73 percent, and a -2.9 percent return on equity. Source: Banco Amigo

Triodos Fair Share Fund and Triodos-Doen invested USD 101,371 and USD 101,374 respectively in XacBank. XacBank, a bank based in Mongolia, was founded in 1998. Per its MIX profile, XacBank has over 56,000 active borrowers and over 82,000 savers. The average loan balance is equivalent USD 886 and the average savings balance is equivalent USD 445. XacBank has assets of equivalent USD 76.3 million and a total loan portfolio of equivalent USD 50.2 million. Per XacBank’s 2006 year end financial statement, it experienced a return on assets of 2.45 percent and a return on equity of 17.83 percent. Source: MIX Market

Several firms, lead by Sequoia Capital and Unitus, invested USD 11.5 million in SKS Microfinance Private Limited (SKSML). SKSML is an Indian microfinance institution founded in 1997. Per its most recent data on MIX, as of March 2007 SKSML has over 513,000 active borrowers of which 100 percent are women. The average loan balance for each borrower is equivalent USD 123. Per its March 2007 financial data, SKSML had total assets of equivalent USD 78.7 million and a total loan portfolio of equivalent USD 63.2 million. The institution’s March 2007 financial data revealed a return on assets of 1.75 percent and a return on assets of 9.22 percent. Source: MIX Market

The Andean Development Corporation (CAF) invested USD 200,000 in MICROFIN. MICROFIN, or MIKROFIN Banja Luka, is a non-bank financial institution in Bosnia and Herzegovina. MICROFIN was founded in 1997, and as March 2007 has over 40,000 active borrowers. The average loan balance per borrower is equivalent USD 2,186. Per its most recent financial data on MIX, March 2007, MICROFIN had total assets of equivalent USD 94.9 million and total loans of equivalent USD 89.2 million. Per its 2006 year end financial data, the institution had a return on assets of 4.80 percent and a return on equity of 17.45 percent. Source: MIX Market

MICROCAPITAL SPECIAL FEATURE: 2007 Equity Investments in Small and Medium Sized Microbanks, Part 1 of 3

2007 has proven to be a productive year for international microfinance equity investments in small and medium sized microbanks. The Microfinance Capital Markets (MCM) Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported 25 investments in 13 small and medium sized Microbanks by 21 investors.

The table below summarizes notable equity investments in small and medium sized microbanks, sorted by asset size. In the next few days, we will provide background and financial information on each investee institution.

Table 2007

]]> http://www.microcapital.org/microcapital-special-feature-2007-equity-investments-in-small-and-medium-sized-microbanks-part-2-of-3/feed/ 0 MICROCAPITAL STORY: Oikocredit of the Netherlands Lends $1m to Latin America Microfinance Promoter Pro Mujer http://www.microcapital.org/microcapital-story-oikocredit-of-the-netherlands-lends-1m-to-latin-america-microfinance-promoter-pro-mujer/?utm_source=rss&utm_medium=rss&utm_campaign=microcapital-story-oikocredit-of-the-netherlands-lends-1m-to-latin-america-microfinance-promoter-pro-mujer http://www.microcapital.org/microcapital-story-oikocredit-of-the-netherlands-lends-1m-to-latin-america-microfinance-promoter-pro-mujer/#comments Fri, 07 Dec 2007 05:55:30 +0000 Steven Craig http://www.microcapital.org/?p=1559 The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported Oikocredit, a co-operative financial development institution in the Netherlands, issued a loan to the Pro Mujer Network.  The network reported that the loan was extended to Pro Mujer Peru in the amount of 3.2 million nuevos soles (USD 1 million).

The Pro Mujer network is a Latin American development organization that facilitates the growth of sustainable microfinance institutions. Founded in Bolivia in 1990, it now also operates in Argentina, Mexico, Nicaragua, and Peru. Pro Mujer’s most recent combined financial statement, published in 2006, revealed assets in excess of USD 25 million and a loan portfolio over USD 19 million. With an estimated client base of over 200,000, Pro Mujer helps thousands of poor, uneducated women to escape poverty by encouraging entrepreneurial pursuits through financial services and training.

Oikocredit, established in 1975, is co-operative financial development institution that provides credit to credit cooperatives, MFIs and other viable enterprises that assist the poor. As of December 2006, Oikocredit had total fund assets of equivalent USD 455.7 million of which USD 198 million was allocated to 306 MFI investments. Oikocredit offers assistance via loans and debt securities, equity investments, guarantees, and technical assistance.

Additional Resources:

CGAP: “List of Recent Transactions”

MIX Market: “Profile for Pro Mujer Network”

MIX Market: “Profile for Oikocredit”

MicroCapital.org article, October 15, 2007: “MICROCAPITAL STORY: Oikocredit of the Netherlands Lends $1.3m to Eastern Europe Microfinance Institution PRIZMA and $2.1m to East Asia Microfinance Institution Cambodian Entrepreneur Building Limited”

MicroCapital.org article, August 14, 2007: MICROCAPITAL STORY: Oikocredit Loans USD 514,028 to Hermandad de Honduras

MicroCapital article, March 29, 2007: “Pro Mujer Bolivia Receives 1 Million in Microfinance Loans from Hivos-Triodos and responsibility Microfinance.”

MicroCapital article, August 15, 2007: “MICROCAPITAL STORY: Global Partnerships Microfinance Fund Lends USD 750,000 to Microfinance Institution (MFI) Pro Mujer Bolivia”

]]> http://www.microcapital.org/microcapital-story-oikocredit-of-the-netherlands-lends-1m-to-latin-america-microfinance-promoter-pro-mujer/feed/ 0 MICROCAPITAL STORY: Rural Impulse Fund Lends $300k to Latin America Microfinance Institution Fundación ESPOIR http://www.microcapital.org/microcapital-story-rural-impulse-fund-lends-300k-to-latin-america-microfinance-institution-fundacion-espoir/?utm_source=rss&utm_medium=rss&utm_campaign=microcapital-story-rural-impulse-fund-lends-300k-to-latin-america-microfinance-institution-fundacion-espoir http://www.microcapital.org/microcapital-story-rural-impulse-fund-lends-300k-to-latin-america-microfinance-institution-fundacion-espoir/#comments Fri, 07 Dec 2007 05:54:15 +0000 Steven Craig http://www.microcapital.org/?p=1558 The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported the Rural Impulse Fund, an investment fund managed by Icofin, based in Antwerp, Belgium, issued a loan of USD 300,000 to Fundación ESPOIR, a Latin America microfinance institution (MFI).

Fundación ESPOIR, based in Ecuador, was founded in 1992 to contribute to the economic and social development and health of poor female microentrepreneurs. According to its most recent “financial data” on the MIX, Fundación ESPOIR had total assets of equivalent USD 7.1 million, consisting of a gross loan portfolio of equivalent USD 6.6 million. Return on assets was 6.55% and return on equity was 25.73%. At the end of 2006, Fundación ESPOIR serviced 15,329 active borrowers of which 100% are women.

The Rural Impulse Fund (RIF) targets rural MFIs and was announced by Icofin, a social investment company that specializes in microfinance investment in developing countries, in August, which was covered by MicroCapital.org. “The RIF aims to increase the supply of rural microfinance by extending commercial funding and strengthening the financial structure of MFIs which have both successfully provided financial services to rural poor and been financially sustainable.” RIF’s total assets are USD 38 million. The RIF investor base is 50% public and 50% private.

Additional Resources:

CGAP: “List of Recent Transactions”

MIX Market: “Profile for Fundación Espoir”

MIX Market: “Profile for Rural Impulse Fund”

MicroCapital.org article, August 15, 2007: “MICROCAPITAL STORY: Incofin Announces Creation of Rural Impulse Fund, an Investment Fund to Target Rural Microfinance; BIO, EIB, IFC, FMO Invest”

MicroCapital.org article, September 25, 2007: “MICROCAPITAL STORY: ResponsAbility Global Microfinance Fund of Switzerland Lends over USD 2.1 Million to Fondesurco, Fundación ESPOIR and LOKMicro”

]]> http://www.microcapital.org/microcapital-story-rural-impulse-fund-lends-300k-to-latin-america-microfinance-institution-fundacion-espoir/feed/ 0 MICROCAPITAL STORY: responsAbility Mikrofinanz-Fonds Loans $1m to Eastern Europe Microenterprise Development Fund Kamurj and $2.5m to Eastern Europe Azerdemiryolbank http://www.microcapital.org/microcapital-story-responsability-mikrofinanz-fonds-loans-1m-to-eastern-europe-microenterprise-development-fund-kamurj-and-25m-to-eastern-europe-azerdemiryolbank/?utm_source=rss&utm_medium=rss&utm_campaign=microcapital-story-responsability-mikrofinanz-fonds-loans-1m-to-eastern-europe-microenterprise-development-fund-kamurj-and-25m-to-eastern-europe-azerdemiryolbank http://www.microcapital.org/microcapital-story-responsability-mikrofinanz-fonds-loans-1m-to-eastern-europe-microenterprise-development-fund-kamurj-and-25m-to-eastern-europe-azerdemiryolbank/#comments Thu, 06 Dec 2007 06:10:42 +0000 Steven Craig http://www.microcapital.org/?p=1554 The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported Swiss Microfinanz-Fonds issued a loan of USD 1 million to Microenterprise Development Fund Kamurj and a loan of USD 2.5 million to microfinance institution (MFI) Azerdemiryolbank of Azerbaijan.

Microenterprise Development Fund Kamurj, founded in 1998, is based in Armenia. Kamurj provides accessible long-term financial and non-financial services to low-income families to improve their well-being. According to its 2006 year end financial data on MIX, the institution had total assets of equivalent USD 6.5 million and a total loan portfolio of equivalent USD 5.4 million. The institution’s return on assets was 21.04 percent and its return on equity was 23.50 percent. At the end of 2006, outreach data revealed Kamurj supported 9,913 active borrowers with an average loan balance of equivalent USD 552.

Azerdemiryolbank is a bank in Azerbaijan founded in 1989. Azerdemiryolbank fosters the development of start-ups and privately owned enterprises by offering them a range of financial services. According to its MIX profile, at the end of 2006 Azerdemiryolbank had over 12,000 active borrowers and over 5,000 savers. The institution had equivalent USD 101.2 million in assets and a total loan portfolio of equivalent USD 67.6 million. Its 2006 year end return on assets was 3.36 percent and its return on equity was 17.89 percent.

The Microfinanz-Fonds fund is managed by responsAbility Social Investment Services Ltd., a Swiss investment firm founded in 2003 that specializes in microfinance investments. The fund’s portfolio is financed by its shareholders, Bank im Bistum Essen, a German cooperative financial institution, and Stadtsparkasse Düsseldorf, a German bank. At its creation in August 2007, the Microfinanz-Fonds fund had total capital of USD 27 million. More current financial data was not available.

Additional Resources:

CGAP: “List of Recent Transactions”

MicroCapital.org article, October 18, 2007: “MICROCAPITAL STORY: Swiss responsAbility Microfinanz-Fonds Loans over $953k to Latin America Microfinance Institutions Fundación CAMPO and COOPROGRESO“

MicroCapital.org article, August 29, 2007: “MICROCAPITAL STORY: Swiss ResponsAbility Microfinanz-Fonds Begins Microfinance Investing and Loans USD 500,000 and USD 344,456 Respectively to PRESTANIC in Latin America and Al Karama in Middle East”

]]> http://www.microcapital.org/microcapital-story-responsability-mikrofinanz-fonds-loans-1m-to-eastern-europe-microenterprise-development-fund-kamurj-and-25m-to-eastern-europe-azerdemiryolbank/feed/ 0 MICROCAPITAL STORY: Eastern Europe Microfinance Institution LOKMicro Receives Over $6m in Loans from responsAbility Mikrofinanz-Fonds, responsAbility Microfinance Leaders Fund and VDK MFI Loan Portfolio http://www.microcapital.org/microcapital-story-eastern-europe-microfinance-institution-lokmicro-receives-over-6m-in-loans-from-responsability-mikrofinanz-fonds-responsability-microfinance-leaders-fund-and-vdk-mfi-loan-portfol/?utm_source=rss&utm_medium=rss&utm_campaign=microcapital-story-eastern-europe-microfinance-institution-lokmicro-receives-over-6m-in-loans-from-responsability-mikrofinanz-fonds-responsability-microfinance-leaders-fund-and-vdk-mfi-loan-portfol http://www.microcapital.org/microcapital-story-eastern-europe-microfinance-institution-lokmicro-receives-over-6m-in-loans-from-responsability-mikrofinanz-fonds-responsability-microfinance-leaders-fund-and-vdk-mfi-loan-portfol/#comments Thu, 06 Dec 2007 06:09:57 +0000 Steven Craig http://www.microcapital.org/?p=1553 The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported LOKMicro, a Eastern Europe microfinance institution (MFI), received a loan of USD 1.4 million from responsAbility Mikrofinanz-Fonds, a loan of USD 2.0 million from responsAbility Microfinance Leaders Fund and a loan of USD 2.8 million from the VDK MFI Loan Portfolio.

LOKMicro, a Bosnia-based MFI, was founded in 1997 to provide financial support to disadvantaged individuals and to help them improve their and standard of life through microentrepreneurship. As of March 2007, LOKMicro serviced 13,880 active borrowers with loans of approximately equivalent USD 2,400 in size. LOKMicro’s second quarter “financial data” on the MIX, indicates had total assets of equivalent USD 36.8 million, consisting of a gross loan portfolio of equivalent USD 33.5 million. As of December 2006, return on assets was reported at 3.84 percent with a return on equity of 22.36 percent.

Microfinanz-Fonds and the responsAbility Microfinance Leaders Fund are managed by responsAbility Social Investment Services Ltd., a Swiss investment firm founded in 2003 that specializes in microfinance investments. The VDK MFI Loan Portfolio is a private Belgian investment fund established in 2007 to “build a well-structured portfolio of microfinance investments.” The responsAbility Global Microfinance Fund, another responsAbility managed fund, also issued a loan of USD 1.7 million to LOKMicro in September 2007.

Additional Resources:

CGAP: “List of Recent Transactions”

MIX Market: “Profile for LOKMicro”

MIX Market: “Profile for VDK MFI Loan Portfolio”

MIX Market: “Profile for responsAbility Microfinance Leaders Fund”

MicroCapital.org article, October 18, 2007: “MICROCAPITAL STORY: Swiss responsAbility Microfinanz-Fonds Loans over $953k to Latin America Microfinance Institutions Fundación CAMPO and COOPROGRESO“

MicroCapital.org article, September 25, 2007: “MICROCAPITAL STORY: ResponsAbility Global Microfinance Fund of Switzerland Lends over USD 2.1 Million to Fondesurco, Fundación ESPOIR and LOKMicro”

MicroCapital.org article, August 29, 2007: “MICROCAPITAL STORY: Swiss ResponsAbility Microfinanz-Fonds Begins Microfinance Investing and Loans USD 500,000 and USD 344,456 Respectively to PRESTANIC in Latin America and Al Karama in Middle East”

MicroCapital.org article, April 2, 2007: “Peruvian Microfinance Institution Edpyme Proempre Receives USD 500,000 in loans from VDK MFI Loan Portfolio”

]]> http://www.microcapital.org/microcapital-story-eastern-europe-microfinance-institution-lokmicro-receives-over-6m-in-loans-from-responsability-mikrofinanz-fonds-responsability-microfinance-leaders-fund-and-vdk-mfi-loan-portfol/feed/ 0 MICROCAPITAL SPECIAL FEATURE: 2007 Equity Investments in Small and Medium Sized Microbanks, Part 1 of 3 http://www.microcapital.org/microcapital-special-report-2007-small-and-medium-sized-equity-investments-in-microfinance/?utm_source=rss&utm_medium=rss&utm_campaign=microcapital-special-report-2007-small-and-medium-sized-equity-investments-in-microfinance http://www.microcapital.org/microcapital-special-report-2007-small-and-medium-sized-equity-investments-in-microfinance/#comments Wed, 05 Dec 2007 19:42:56 +0000 Steven Craig http://www.microcapital.org/?p=1547 2007 has proven to be a productive year for international microfinance equity investments in small and medium sized microbanks. The Microfinance Capital Markets (MCM) Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported 25 investments in 13 small and medium sized Microbanks by 21 investors.

The table below summarizes notable equity investments in small and medium sized microbanks, sorted by asset size. In the next few days, we will provide background and financial information on each investee institution.

Table 2007

]]> http://www.microcapital.org/microcapital-special-report-2007-small-and-medium-sized-equity-investments-in-microfinance/feed/ 0 MICROCAPITAL STORY: responsAbility Global Microfinance Fund of Switzerland Lends $500k to Microfinance Institution ENLACE and $487k to Microfinance Institution EDPYME Confianza http://www.microcapital.org/microcapital-story-responsability-global-microfinance-fund-of-switzerland-lends-500k-to-microfinance-institution-enlace-and-487k-to-microfinance-institution-edpyme-confianza/?utm_source=rss&utm_medium=rss&utm_campaign=microcapital-story-responsability-global-microfinance-fund-of-switzerland-lends-500k-to-microfinance-institution-enlace-and-487k-to-microfinance-institution-edpyme-confianza http://www.microcapital.org/microcapital-story-responsability-global-microfinance-fund-of-switzerland-lends-500k-to-microfinance-institution-enlace-and-487k-to-microfinance-institution-edpyme-confianza/#comments Fri, 30 Nov 2007 06:04:20 +0000 Steven Craig http://www.microcapital.org/?p=1534 The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported responsAbility Global Microfinance Fund, a Luxembourg-based fund, issued a loan of USD 500,000 to ENLACE and a loan of USD 487,439 to EDPYME Confianza, both Latin America microfinance institutions (MFIs).

The responsAbility Global Microfinance Fund is an investment instrument that allows investors the opportunity to invest in institutions that provide financial returns, social benefits and contribution towards development policy goals. The fund’s primary focus is microfinance. As of January 2007, the fund had total assets of USD 96.1 million of which USD 89.5 million was allocated to microfinance. The fund is managed by responsAbility, a Zurich-based provider of social investment advisory services. responsAbility focuses on developing countries and investments that generate social benefits. responsAbility aims to become the Swiss platform for investment in microfinance.

ENLACE was founded in 1997 and is based in El Salvador. According to its most recent “financial data” on the MIX, ELACE had total assets of equivalent USD 4.4 million which consisted of a gross loan portfolio of equivalent USD 4.0 million. Return on assets for the MFI was 6.31 percent and it had return on equity of 10.63 percent. At the end of 2006, the MFI serviced 16,772 active borrowers of which approximately 85.80% are women. The average loan balance per borrower is equivalent USD 241.

EDPYME Confianza, based in Peru, was originally a branch of the non-governmental organization SEPAR founded in 1993, which implemented a credit program to promote economic activity amongst rural women. EDPYME Confianza started operations in 1998 and at the end of 1998 had total assets of equivalent USD 743,568. According to its most recent “financial data” on the MIX, EDPYME Confianza had total assets of equivalent USD 53.2 million. Its gross loan portfolio was equivalent USD 37.8 million. The return on assets for the MFI was 1.65 percent and it had return on equity of 10.76 percent. At the end of 2006, the MFI serviced 33,317 active borrowers of which approximately half are women. The average loan balance per borrower is equivalent USD 1,135.

Additional Resources:

CGAP: “List of Recent Transactions”

MIX Market: “Profile for ENLACE”

MIX Market: “Profile for EDPYME Confianza”

MicroCapital.org article, October 15, 2007: “MICROCAPITAL STORY: responsAbility Global Microfinance Fund of Switzerland Lends $500k to Microfinance Institution Thaneakea Phum (Cambodia) LTD and $4m to Microfinance Institution PRASAC MFI LTD”

MicroCapital.org article, October 8, 2007: “MICROCAPITAL STORY: ResponsAbility Global Microfinance Fund of Switzerland Lends over $1m to Peru-based Edpymes Proempresa”

MicroCapital.org article, September 25, 2007: “MICROCAPITAL STORY: ResponsAbility Global Microfinance Fund of Switzerland Lends over USD 2.1 Million to Fondesurco, Fundación ESPOIR and LOKMicro”

MicroCapital.org article, September 3, 2007: “MICROCAPITAL STORY: ResponsAbility Global Microfinance Fund of Switzerland Loans over USD 1.1 Million to Unión de Crédito Interestatal Chiapas (Unicreich) of Mexico and PRESTANIC of Nicaragua”

MicroCapital.org article, April 6, 2007: “MICROCAPITAL STORY: ResponsAbility Lends USD 3.9 Million to 7 Latin American Microbanks: FDL, ADMIC, PRESTANIC, ProCredit Ecuador, AMC-SV, Fundación Campo, Corporación de Productores Café.”

MicroCapital.org article, November 3, 2006: “MICROCAPITAL STORY: The ResponsAbility Global Microfinance Fund Distributes Loans to Various Microfinance Institutions in Latin America”

]]> http://www.microcapital.org/microcapital-story-responsability-global-microfinance-fund-of-switzerland-lends-500k-to-microfinance-institution-enlace-and-487k-to-microfinance-institution-edpyme-confianza/feed/ 0 MICROCAPITAL STORY: Oikocredit of the Netherlands Lends $1m to Latin America Microfinance Institution IDEPRO http://www.microcapital.org/microcapital-story-oikocredit-of-the-netherlands-lends-1m-to-latin-america-microfinance-institution-idepro/?utm_source=rss&utm_medium=rss&utm_campaign=microcapital-story-oikocredit-of-the-netherlands-lends-1m-to-latin-america-microfinance-institution-idepro http://www.microcapital.org/microcapital-story-oikocredit-of-the-netherlands-lends-1m-to-latin-america-microfinance-institution-idepro/#comments Wed, 28 Nov 2007 05:17:22 +0000 Steven Craig http://www.microcapital.org/?p=1530 The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported Oikocredit, a co-operative financial development institution in the Netherlands, issued a loan of USD 1 million to IDEPRO (Desarrollo de la Pequeña Unidad Productiva), a Latin America microfinance institution (MFI).

IDEPRO, based in Bolivia, was founded in 1991. According to its year end 2006 “financial data” on the MIX, the MFI had total assets of equivalent USD 7.3 million which consisted of a gross loan portfolio of equivalent USD 3.9 million. Return on assets for the MFI was 1.34 percent and it had return on equity of 3.9 percent. At the end of 2006, the MFI serviced 2,101 active borrowers of which 100 percent are women. The average loan balance for borrowers is equivalent USD 1,884.

Oikocredit, established in 1975, is co-operative financial development institution that provides credit to credit cooperatives, MFIs and other viable enterprises that assist the poor. As of December 2006, Oikocredit had total fund assets of equivalent USD 455.7 million of which USD 198 million was allocated to 306 MFI investments. Oikocredit offers assistance via loans and debt securities, equity investments, guarantees, and technical assistance.

Additional Resources:

CGAP: “List of Recent Transactions”

MIX Market: “Profile for Oikocredit”

MIX Market: “Profile for IDEPRO”

MicroCapital.org article, October 15, 2007: “MICROCAPITAL STORY: Oikocredit of the Netherlands Lends $1.3m to Eastern Europe Microfinance Institution PRIZMA and $2.1m to East Asia Microfinance Institution Cambodian Entrepreneur Building Limited”

MicroCapital.org article, August 14, 2007: MICROCAPITAL STORY: Oikocredit Loans USD 514,028 to Hermandad de Honduras

]]> http://www.microcapital.org/microcapital-story-oikocredit-of-the-netherlands-lends-1m-to-latin-america-microfinance-institution-idepro/feed/ 0 MICROCAPITAL STORY: Rural Impulse Fund Lends $500k to Nicaraguan Microfinance Institution PRESTANIC http://www.microcapital.org/microcapital-story-rural-impulse-fund-lends-500k-to-nicaraguan-microfinance-institution-prestanic/?utm_source=rss&utm_medium=rss&utm_campaign=microcapital-story-rural-impulse-fund-lends-500k-to-nicaraguan-microfinance-institution-prestanic http://www.microcapital.org/microcapital-story-rural-impulse-fund-lends-500k-to-nicaraguan-microfinance-institution-prestanic/#comments Tue, 27 Nov 2007 05:30:29 +0000 Steven Craig http://www.microcapital.org/?p=1523 The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported the Rural Impulse Fund, an investment fund managed by Incofin, based in Antwerp, Belgium, issued a loan of USD 500,000 to PRESTANIC, a rural Latin America microfinance institution (MFI).

PRESTANIC, based in Nicaragua, was founded in 1991 by the Council of Protestant Churches of Nicaragua (CEPAD). PRESTANIC received its legal status to operate independently in November 1999. According to PRESTANIC’s MIX profile, as of its 2006 year end financial statement, the MFI had total assets of equivalent USD 13.0 million. The MFI’s return on assets was 4.28 percent and its return on equity was 16.31 percent. Its gross loan portfolio was equivalent USD 11.0 million and it serviced approximately 9,219 active borrowers. The average loan balance for the MFI was equivalent USD 1,198. The responsAbility Global Microfinance Fund and the responsAbility Microfinanz-Fonds, both managed by responsAbility, also loaned to PRESTANIC this year.

The Rural Impulse Fund (RIF) targets rural MFIs and was announced by Incofin, a social investment company that specializes in microfinance investment in developing countries, in August, which was covered by MicroCapital.org. “The RIF aims to increase the supply of rural microfinance by extending commercial funding and strengthening the financial structure of MFIs which have both successfully provided financial services to rural poor and been financially sustainable.” RIF’s total assets are USD 38 million. The RIF investor base is 50% public and 50% private.

Additional Resources:

CGAP: “List of Recent Transactions”

MIX Market: “Profile for PRESTANIC”

MIX Market: “Profile for Rural Impulse Fund”

MicroCapital.org article, August 29, 2007: “MICROCAPITAL STORY: Swiss ResponsAbility Microfinanz-Fonds Begins Microfinance Investing and Loans USD 500,000 and USD 344,456 Respectively to PRESTANIC in Latin America and Al Karama in Middle East”

MicroCapital.org article, August 15, 2007: “MICROCAPITAL STORY: Incofin Announces Creation of Rural Impulse Fund, an Investment Fund to Target Rural Microfinance; BIO, EIB, IFC, FMO Invest”

MicroCapital.org article, April 6, 2007: “ResponsAbility Lends USD 3.9 Million to 7 Latin American Microbanks: FDL, ADMIC, PRESTANIC, ProCredit Ecuador, AMC-SV, Fundación Campo, Corporación de Productores Café.”

]]> http://www.microcapital.org/microcapital-story-rural-impulse-fund-lends-500k-to-nicaraguan-microfinance-institution-prestanic/feed/ 0