MICROCAPITAL BRIEF: responsAbility Loans $20m to UT Bank Ghana to Support Small- and Medium-sized Enterprises (SMEs)

ResponsAbility Social Investments, a Swiss investment company with a focus on microfinance, recently notified MicroCapital that it disbursed a loan of USD 20 million in August 2013 to UT Bank Ghana Limited (UT Bank), a Ghanaian commercial bank with 26 branches. The loan will be used to support small and medium-sized enterprises (SMEs) [1].

As of April 2013, UT Bank employs approximately 680 staff and holds assets of GHS 992 million (USD 499 million). As of 2009, UT Bank had return on asset (ROA) of 2.4 percent and return on equity (ROE) of 34 percent. As of August 2013, responsAbility reported assets of approximately USD 1.6 billion.

By Megan McGowan, Research Associate

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 August, responsAbility reported total assets under management of approximately USD 1.4 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.

Sources and Additional Resources

[1] Direct source information sent from responsAbility to MicroCapital

UT Bank Ghana: http://www.utbankghana.com

MicroCapital: “MICROCAPITAL BRIEF: responsAbility Social Investments Increases Chase Bank of Kenya Debt Exposure to $15m,” https://www.microcapital.org/microcapital-brief-responsability-social-investments-increases-chase-bank-of-kenya-debt-exposure-to-15m/

MicroCapital: “MICROCAPITAL BRIEF: UT Bank Ghana Receives $20m Credit Line from African Development Bank to Support Small, Medium-Sized Enterprises,” June 5, 2013, https://www.microcapital.org/microcapital-brief-ut-bank-ghana-receives-20m-credit-line-from-african-development-bank-to-support-small-medium-sized-enterprises/

MicroCapital Universe Profile: responsAbility Social Investments AG, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility

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