The European Fund for Southeast Europe (EFSE), a microfinance investment fund, recently loaned USD 7.4 million to NLB Razvojna banka, a financial institution in Bosnia and Herzegovina that provides financial services to retail clients, corporate clients and small and medium-sized enterprises (SMEs) [1].
As of 2009, NLB Razvojna banka reported BAM 1.2 billion (USD 889 million) in assets. NLB Razvojna banka is a member of the NLB Group, an international financial group based in Slovenia with assets totaling EUR 19.3 billion (USD 27.9 billion) as of 2010. NLB Razvogna banka does not report to the US-based nonprofit Microfinance Information Exchange (MIX).
Managed by Oppenheim Asset Management Services, EFSE reported to MIX that it had 58 active microfinance investments in 2009 with fund assets totaling USD 830 million.
By Medha Ravi, Research Associate
About European Fund for Southeast Europe (EFSE):
Established in 2005, the European Fund for Southeastern Europe aims to foster economic development in southeastern Europe and parts of Central Asia by supporting the provision of financial services to low-income households and micro- and small enterprises via local financial institutions. EFSE is privately managed, with Oppenheim Asset Management Services acting as its fund manager and Finance in Motion GmbH acting as fund advisor. As of December 31, 2009, EFSE has an outstanding investment portfolio of EUR 578 million (USD 775 million). LuxFLAG, an organization that certifies that microfinance investment vehicles actually invest in the microfinance sector, renewed EFSE’s label as of 2011.
About NLB Razvojna banka:
Headquartered in the Republic of Srpska within Bosnia and Herzegovina, NLB Razvojna banka began operating on April 1, 2006, and provides financial services to retail clients, corporate clients and small and medium-sized enterprises (SMEs). As of 2009, NLB Razvojna banka reported BAM 1.2 billion (USD 889 million) in assets. NLB Razvojna banka is a member of the NLB Group, an international financial group based in Slovenia with assets totaling EUR 19.8 billion (USD 27.1 billion). NLB Razvogna banka does not report to the US-based nonprofit Microfinance Information Exchange (MIX).
Source and Resources:
[1] Information submitted to MicroCapital by European Fund for Southeast Europe (EFSE)
MicroCapital.org story, February 2, 2011, “MICROCAPITAL BRIEF: European Fund for Southeast Europe Loans $10m to Megabank of Ukraine with Focus on Microfinance”, https://www.microcapital.org/microcapital-brief-european-fund-for-southeast-europe-loans-10m-to-megabank-of-ukraine-with-focus-on-microfinance/
MicroCapital.org story, December 20, 2010, “European Fund for Southeast Europe Loans $19m to ProCredit Bank SA of Romania for Microfinance”, https://www.microcapital.org/microcapital-brief-european-fund-for-southeast-europe-loans-19m-to-procredit-bank-sa-of-romania-for-microfinance/
MicroCapital’s Microfinance Universe Profile: European Fund for Southeast Europe (EFSE), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=European+Fund+for+Southeast+Europe+%28EFSE%29
MicroCapital’s Microfinance Universe Profile: NLB Razvojna banka, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=NLB+Razvojna+banka
MicroCapital’s Microfinance Universe Profile: NLB Group, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=NLB+Group
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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