Switzerland’s responsAbility Social Investments AG (responsAbility) recently reported to MicroCapital that funds it manages have disbursed loans totaling USD 4.5 million to microfinance institutions (MFIs) in Romania, Bosnia and Herzegovina, and the Kyrgyz Republic. ProCredit Bank Romania received USD 1.97 million from responsAbility Mikrofinanz-Fonds (rAMF). Bosnia and Herzegovina’s Mikrofin received USD 983,550 from responsAbility Global Microfinance Fund (rAGMF). The Kyrgyz Republic’s Kompanion received USD 750,000 from both rAMF and rAGMF, for a total of USD 1.5 million.
ProCredit Bank Romania (PCBR) describes itself as a full-service bank that works especially with micro-, small and medium-sized enterprises in Romania. As of year-end 2010, PCBR reported to the US-based nonprofit Microfinance Information Exchange (MIX), total assets of USD 112.9 million, a gross loan portfolio of USD 105.6 million and 112,872 active borrowers. PCBR is a member of the ProCredit Holding Group, which is based in Germany and has operations in 21 countries.
Mikrofin Banja Luka, established in 1999, reported to the US-based nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 139 million, a gross loan portfolio of USD 123 million, return on assets (ROA) of 0.3 percent, return on equity (ROE) of 1.33 percent and 40,000 active borrowers as of 2010.
Kompanion Financial Group was established in Kyrgyzstan in 2004 through the consolidation of five microcredit agencies affiliated with Mercy Corps, an economic development and aid organization based in the United States. As of December 31, 2010, Kompanion reports to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 50 million, a gross loan portfolio of USD 30 million, return on assets (ROA) of 4.78 percent, return on equity (ROE) of 20.82 percent and 119,000 active borrowers.
By Natalie Baer, Research Associate
About ProCredit Bank Romania: ProCredit Bank Romania (PCBR), a member of Germany’s ProCredit Holding Group, describes itself as a full-service bank that is “development-oriented” and works especially with micro-, small and medium-sized enterprises. As of year-end 2010, PCBR reported to the US-based nonprofit Microfinance Information Exchange (MIX), total assets of USD 112.9 million, a gross loan portfolio of USD 105.6 million and 112,872 active borrowers. The ProCredit Holding Group has operations in 21 countries.
About ProCredit Holding: ProCredit Holding consists of 21 banks operating in transition economies and developing countries in Eastern Europe, Latin America and Africa. It provides credit and other banking services to small and medium-sized enterprises and lower- and middle-income savers who have previously had limited access to formal financial services. As of December 31, 2010, it reported assets of EUR 5.2 billion (USD 6.8 billion) and a gross loan portfolio of EUR 3.6 billion (USD 4.8 billion).
About Mikrofin Banja Luka: Mikrofin Banja Luka, established in 1999, is a microfinance institution (MFI) based in Bosnia and Herzegovina. It aims to “provide appropriate financial services to economically-active, low-income people that can make a profit and make it possible for them to become economically independent.” As of December 31, 2010, Mikrofin reported to the US-based nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 139 million, a gross loan portfolio of USD 123 million, return on assets (ROA) of 0.3 percent, return on equity (ROE) of 1.33 percent and 40,000 active borrowers.
About Kompanion Financial Group: Kompanion Financial Group Microfinance Closed Joint Stock Company was established in Kyrgyzstan in 2004 through the consolidation of five microcredit agencies affiliated with Mercy Corps, an economic development and aid organization based in the United States. Kompanion describes itself as a “community development financial institution that seeks to combine conservation and development goals.” As of December 31, 2010, Kompanion reports to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 50 million, a gross loan portfolio of USD 30 million, return on assets (ROA) of 4.78 percent, return on equity (ROE) of 20.82 percent and 119,000 active borrowers.
About responsAbility: Founded in 2003, responsAbility Social Investments AG is a Swiss investment company whose products aim to enable investors to earn a financial return while assisting people in emerging markets to access information and markets in sectors such as microfinance, small and medium-sized enterprise (SME) financing, fair trade and independent media. As of September 2011, responsAbility reported total assets under management of approximately USD 1 billion. responsAbility is backed by Swiss financial institutions and a social venture capital company as founders and shareholders including Baumann & Cie, Banquiers, Credit Suisse, Raiffeisen Schweiz, Swiss Re, Bank Vontobel AG as well as George Avenue.
About responsAbility Global Microfinance Fund (rAGMF): The responsAbility Global Microfinance Fund (rAGMF) is a microfinance investment vehicle (MIV) managed by responsAbility Social Investments that invests in microfinance institutions (MFIs) and other MIVs, mostly through short- to medium-term debt securities. rAGMF also invests up to 10 percent of its assets in the equity of MFIs. In April 2011, its annual label was renewed by the Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector. rAGMF reported to the US-based nonprofit Microfinance Information Exchange (MIX) fund assets of USD 532 million in 2011.
About responsAbility Mikrofinanz-Fonds (rAMF): Mikrofinanz-Fonds is a microfinance investment vehicle (MIV) that was launched in 2007, is managed by responsAbility Social Investments AG of Switzerland and is funded by German financial institutions Bank im Bistum Essen and Stadtsparkasse Dusseldorf. It invests in short- to medium-term income-bearing debt securities of microfinance institutions (MFIs). In April 2011, its annual label was renewed by the Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector. Mikrofinanz-Fonds reported to the US-based nonprofit Microfinance Information Exchange (MIX) fund assets of USD 141 million in 2011.
Sources and Additional Resources:
Data submitted to MicroCapital by responsAbility, February 2012
MicroCapital.org story, January 18, 2012, “MICROCAPITAL BRIEF: responsAbility Lends $4m to ACLEDA Bank, Hattha Kaksekar Limited (HKL) of Cambodia,” https://www.microcapital.org/microcapital-brief-responsability-lends-4m-to-acleda-bank-hattha-kaksekar-limited-hkl-of-cambodia/
MicroCapital Universe Profile: ProCredit Bank Romania,
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=ProCredit+Bank+Romania
MicroCapital Universe Profile: ProCredit Holding, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Procredit+Holding
MicroCapital Universe Profile: Mikrofin Banja Luka,
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Mikrofin+Banja+Luka
MicroCapital Universe Profile: Kompanion Financial Group,
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Kompanion+Financial+Group+Microfinance+Closed+Joint+Stock+Company
MicroCapital Universe Profile: responsAbility Social Investments AG, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility
MicroCapital Universe Profile: responsAbility Global Microfinance Fund (rAGMF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+%28rAGMF%29
MicroCapital Universe Profile: responsAbility Mikrofinanz-Fonds, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Mikrofinanz-Fonds
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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