MICROCAPITAL BRIEF: Cantilan Bank of the Philippines Wins $55k Giordano Dell’Amore Microfinance Best Practices Award for Value Chain Proposal

Cantilan Bank, a Philippine provider of microfinance and other financial services, recently won the “Microfinance Best Practices International Award” from Italy’s Giordano Dell’Amore Foundation for the bank’s “Pag-uma and Value Chain Financing” proposal, which includes a “gender-sensitive approach” to providing individual and group loans for small-scale farmers. The award includes a cash prize of EUR 50,000 (USD 55,000).

Cantilan reports total assets of USD 39 million, a gross loan portfolio of USD 28 million and deposits of USD 23 million. It serves 22,000 borrowers and 35,000 depositors. Microfinance accounts for roughly 15 percent of the bank’s operations.

Financial information on Fondazione Giordano Dell’Amore is not available.

About Fondazione Giordano Dell’Amore:

Fondazione Giordano Dell’Amore is an Italy-based foundation that was established in 1967. It was formalized under Italian law in 1977 by Cassa di Risparmio delle Provincie Lomabrde, an Italian state-owned bank. The foundation’s mission is to catalyze Italy’s resources in support of the microfinance sector in both industrialized and developing countries. The foundation is a member of Rete Italiana di Microfinanza (RITMI), the Italian microfinance network, and is associated with the European Microfinance Network (EMN), a Belgium-based NGO that promotes microfinance and self-employment. Financial information on Fondazione Giordano Dell’Amore is not available.

Sources and Resources:

Data provided to MicroCapital by the Giordano Dell’Amore Foundation

MIX Market profile: http://www.mixmarket.org/mfi/cantilan-bank

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