The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has loaned EUR 10 million (USD 13.1 million) to Macedonia’s Ohridska Banka “to increase access to finance for small and medium enterprises and boost economic recovery in the country.” The senior loan is part of IFC’s strategies to support recovery from the global financial crisis and increase lending to small and medium-sized enterprises (SMEs) [1].
For the year 2010, Ohridska Banka reported total assets of USD 411 million, USD 264 million in deposits, a return on assets (ROA) of 0.2 percent and a return on equity (ROE) of 1.9 percent. A subsidiary of French bank Societe General, Ohridska Banka serves approximately 87,000 clients. As of 2011, IFC has 182 member countries, total assets of USD 68.5 billion and total investment mobilization of USD 12.2 billion to 518 projects. Macedonia became a member of IFC in 1993. IFC’s portfolio in Macedonia stands at USD 87 million.
By Brendan Millan, Research Associate
About Ohridska Banka: Ohridska Banka is a Macedonian commercial bank subsidiary of French financial institution Societe General. For the year 2010, Ohridska Banka reported total assets of USD 411 million, USD 264 million in deposits, a return on assets (ROA) of 0.2 percent and a return on equity (ROE) of 1.9 percent. Ohridska Banka serves approximately 87,000 clients. For 2011, Societe General reported total assets of USD 2.37 trillion.
About International Finance Corporation (IFC): A member of the World Bank Group, IFC offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. As of 2011, IFC has 182 member countries, total assets of USD 68.5 billion and total investment mobilization of USD 12.2 billion to 518 projects.
Sources and Resources:
[1] International Finance Corporation (IFC): “IFC Helps Boost Lending for Small Companies in FYR Macedonia, Aiding Economic Recovery” by Slobodan Brkic. http://www.ifc.org/IFCExt/pressroom/IFCPressRoom.nsf/0/E08926F39A359D7F852579DD002EFBF4
MicroCapital.org Article, April 10, 2012, “International Finance Corporation (IFC), BNP Paribas Partner on $100m Facility to Increase Agriculture Financing in Sub-Saharan Africa, Eastern Europe”, https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-bnp-paribas-partner-on-100m-facility-to-increase-agriculture-financing-in-sub-saharan-africa-eastern-europe/
MicroCapital.org story, March 1, 2012, “International Finance Corporation (IFC) Loans $32m to Garanti Bank Romaniafor Small and Medium-Sized Enterprises”, https://www.microcapital.org/microcapital-brief-international-finance-cor…
MicroCapital Universe Profile: International Finance Corporation (IFC), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+%28IFC%29
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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