A joint survey conducted by two Russian associations of microfinance stakeholders, the National Partnership of Microfinance Market Participants and the Russian Microfinance Center indicates that non-banking microfinance institutions (MFIs) posted improvements in nearly all primary financial indicators during the first quarter of 2011.
According to the report, the average active credit portfolio, savings deposits and loans disbursed per MFI grew 2.76 percent, 3.96 percent and 12.87 percent, respectively, when comparing first quarter of 2011 to fourth quarter of 2010. The report also states, “The rate of credit portfolio growth at microfinance institutions is slightly higher than the pace of growth of a credit portfolio in the banking sector. Meanwhile, growth of the amount of loans raised per a MFI is accelerating.”
The authors posit that this may be the beginning of a long-term growth trend and reflective of market recovery from the 2008 financial downturn. Survey respondents included various MFIs: credit consumer cooperatives, privately-owned microfinance institutions and regional and municipal funds designed to support entrepreneurship.
By Carol Kim, Research Associate
About Russian Microfinance Center (RMC): Established in July 2002, the Russian Microfinance Center (RMC) is a trade association that advocates on behalf of the microfinance community. In addition, RMC serves as a resource center for Russia’s microfinance industry and a national forum for its interaction with the government and investors. The goals of RMC are to promote an enabling legal environment for microfinance, to promote national microfinance standards and to offer training and professional consulting services to microfinance institutions (MFIs). Based on most recently reported data, the RMC served a total of about 400 banks and non-bank microfinance providers as of early 2007.
Sources and Additional Resources:
Banki.ru: “Survey: Russian microfinance market keeps growing”, August 2011, http://www.banki.ru/news/engnews/?id=3145730
MicroCapital.org: “MICROFINANCE EVENT: National Partnership of Microfinance Market Stakeholders (NAMMS), Russian Microfinance Center (RMC) to Host Tenth Anniversary National Conference on Microfinance, Moscow, Russia, November 16 – November 18, 2011”, July 22, 2011, https://www.microcapital.org/microfinance-event-national-partnership-of-microfinance-market-stakeholders-namms-russian-microfinance-center-rmc-to-host-tenth-anniversary-national-conference-on-microfinance-moscow-russia-n/
MicroCapital.org: “MICROCAPITAL BRIEF: Citi Foundation, Russian Microfinance Center to Train MFIs to Train their Borrowers in Entrepreneurship”, February 3, 2011, https://www.microcapital.org/microcapital-brief-citi-foundation-russian-microfinance-center-to-train-mfis-to-train-their-borrowers-in-entrepreneurship/
MicroCapital’s Universe Profile: Russian Microfinance Center (RMC), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Russian+Microfinance+Center+%28RMC%29
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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