Category: South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: TPG Growth Acquiring 40% in One Network Bank from Banco de Oro Unibank of Philippines

TPG Growth, a subsidiary of the private equity firm TPG, recently announced its intention to purchase a 40-percent equity stake in One Network Bank (ONB), a rural subsidiary of Banco de Oro Unibank (BDO), a Philippines-based commercial bank. Continue reading

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MICROCAPITAL BRIEF: IntelleGrow Raises $20m in Debt, Equity to Fund Micro-, Small, Medium-sized Enterprises in India

IntelleGrow Private Limited, an India-based nonbanking financial company specializing in venture debt that was founded by India’s Intellecap Capital Advisory Services, recently announced that it has raised INR 134 billion (approximately USD 20 million) in equity and debt. Continue reading

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MICROCAPITAL BRIEF: Bandhan Sells $474m in Microloans to HDFC Bank, IDBI Bank, Yes Bank

Bandhan Bank, an Indian microfinance institution that is organized as a commercial bank, recently sold INR 32 billion (USD 474 million) of “priority sector loans to more experienced private sector rivals to help them meet lending targets.” Indian regulators require banks to invest certain percentages of their holdings in “priority sectors” such as agriculture. Chandra Shekhar, the Managing Director of Bandhan Bank, said that Bandhan Bank had used “inter-bank participation certificates” to sell the loans to India’s HDFC Bank, IDBI Bank and Yes Bank. Continue reading

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MICROCAPITAL BRIEF: Cambodian Microbank Sathapana Borrows $35m Syndicated by Taiwan’s First Commercial Bank

Sathapana Bank, a Cambodia-based commercial bank that evolved from a microfinance institution (MFI), recently borrowed USD 35 million from seven Taiwanese lenders through Taiwan’s First Commercial Bank for the purpose of “expanding its existing microfinance operations and broadening its commercial lending portfolio.” Sathapana management hopes that this loan indicates that Asian lenders are more willing to provide loans to MFIs. Continue reading

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MICROCAPITAL BRIEF: India’s SKS Microfinance Changes Name to Bharat Financial Inclusion, in Apparent Continuing Reaction to 2010 Microfinance Crisis in Andhra Pradesh

SKS Microfinance, a for-profit microfinance institution (MFI) headquartered in Hyderabad, India, recently announced it will change its name to Bharat Financial Inclusion [1]. Continue reading

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MICROCAPITAL BRIEF: Grameen Foundation, Ideas42 Seek to Influence Mobile Money Behavior in the Philippines

Two US-based nonprofits, the microfinance-oriented Grameen Foundation and the behavioral design firm ideas42 recently launched a partnership to support financial inclusion in the Philippines by implementing a combination of behavioral science principles and digital financial services provided through mobile phones. Continue reading

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MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Funds Loan $9.6m to Microfinance Institutions (MFIs) in Bolivia, Cambodia, Columbia, Ecuador, India, Indonesia, Paraguay, Zimbabwe

During April 2016, Austria’s C-Quadrat Asset Management GmbH issued loans worth the equivalent of USD 9.6 million via its two Dual Return Funds to unspecified microfinance institutions (MFIs) in Bolivia, Cambodia, Columbia, Ecuador, India, Indonesia, Paraguay and Zimbabwe. USD 2 million of this total was invested in an MFI based in Phnom Penh, Cambodia, which has 181 service points and provides financial services to clients in rural regions of the country. Financial information on the organization is not available. Continue reading

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MICROCAPITAL BRIEF: Fairassets, Owner of Indian On-line Peer-to-Peer Lender Faircent, Sells Equity Stakes to Investors Including JM Financial, Aarin Capital, M&S Partners

JM Financial Limited, a financial services firm based in India, recently announced that it has acquired, through its subsidiary, JM Financial Products Limited, a 9.84-percent equity stake in Fairassets Technologies India Proprietary Limited, a peer-to-peer (P2P) lending company. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Fairassets, Owner of Indian On-line Peer-to-Peer Lender Faircent, Sells Equity Stakes to Investors Including JM Financial, Aarin Capital, M&S Partners Posted in Deals, South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: National Bank of Cambodia (NBC) Connects Deposit-taking Microfinance Institutions, Banks Through FAST Transfers; Increases Capital Requirements

The National Bank of Cambodia (NBC), the country’s central bank, recently announced various initiatives expected to boost Cambodia’s microfinance industry. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: National Bank of Cambodia (NBC) Connects Deposit-taking Microfinance Institutions, Banks Through FAST Transfers; Increases Capital Requirements Posted in South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: Alibaba’s Ant Financial Raises $4.5b from Investors Including China Life, China Post Group, China Development Bank Capital, Primavera Capital Group to Expand Services in Rural Areas

Ant Financial Services Group, an online lender affiliated with Alibaba Group Holdings Limited, a Chinese e-commerce company, recently completed a Series B equity raise of USD 4.5 billion. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Alibaba’s Ant Financial Raises $4.5b from Investors Including China Life, China Post Group, China Development Bank Capital, Primavera Capital Group to Expand Services in Rural Areas Posted in South Asia, East Asia and Pacific, Technology

MICROCAPITAL BRIEF: IFC Invests $7.5m in Debt, Equity in Microfinance Institution Maha Agriculture of Myanmar

The International Finance Corporation (IFC), a member of the World Bank Group, recently invested USD 6 million in debt and USD 1.5 million in equity in Maha Agriculture Public Company Limited, a microfinance subsidiary of Myanma Awba Group <http://www.awba-group.com/>, an agrochemical fertilizer company in Myanmar. Continue reading

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MICROCAPITAL BRIEF: India’s Janalakshmi Sells $7.5m in Securitized Microloans to Government-backed MUDRA, Arranged by IFMR Capital

IFMR Capital, an affiliate of the Chennai-based nonprofit Institute of Financial Management and Research (IFMR), recently structured the first capital market transaction for the Micro Units Development & Refinance Agency (MUDRA) Bank, an Indian public-sector financial institution that provides subsidized loans and other services to microfinance institutions (MFIs) and non-banking financial institutions (NBFCs). Continue reading

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MICROCAPITAL BRIEF: PPAF, Karandaaz, Kreditanstalt für Wiederaufbau (KfW) Establish Pakistan Microfinance Investment Company (PMIC)

The Pakistan Poverty Alleviation Fund (PPAF), a government-backed entity that supports the Pakistani microfinance industry; Karandaaz Pakistan, a Pakistan-based private sector company funded by the UK government; and Kreditanstalt für Wiederaufbau (KfW), a German development bank, recently signed a shareholders’ agreement to set up the Pakistan Microfinance Investment Company (PMIC). Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Improving Financial Capability in India, Mexico; Mobile Money Usage; Post-Disaster, Post-Conflict Microfinance

A Change in Behavior: Innovations in Financial Capability;” by J. Arnold, E. Rhyne; published by the Center for Financial Inclusion at Accion, JPMorgan Chase & Co; April 2016; 47 pages; available at: https://centerforfinancialinclusionblog.files.wordpress.com/2016/04/a-change-in-behavior-final.pdf Continue reading

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MICROCAPITAL BRIEF: Mountain Hazelnut Venture Limited of Bhutan Secures $12m in Equity from G20’s GAFSP, ADB, IFC

The Global Agricultural and Food Security Program (GAFSP), a multilateral mechanism established by the G20 group of 20 large economies, has approved an equity investment of USD 6 million in Mountain Hazelnut Venture Limited (Mountain Hazelnuts), a for-profit promoter of the production of hazelnuts in Bhutan. Continue reading

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MICROCAPITAL BRIEF: Indian Microfinance Institution Ujjivan Goes Public, Raising $95m in Association With IPO

Ujjivan Financial Services, an Indian provider of microloans and life insurance, recently conducted its initial public offering (IPO), generating INR 3.6 billion (USD 54 million) from the sale of newly issued shares. Continue reading

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MICROFINANCE EVENT: BWTP, FDC, ADA, UNCDF, ADB to Co-host “Mekong Financial Inclusion Forum”, July 11-14, 2016, Phnom Penh, Cambodia

Event Name: Mekong Financial Inclusion Forum

Event Dates: July 11-14, 2016

Event Location: Intercontinental Hotel, Phnom Penh, Cambodia Continue reading

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MICROCAPITAL BRIEF: Indian Microfinance Lender Equitas Holdings Goes Public, Raising $330m

Equitas Holdings Limited, an Indian microfinance lender, recently opened its primary market sale. Continue reading

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