Source: Microfinance Information eXchange (MIX).
Original press release available here.
WASHINGTON & LIMA, November 12 – The Microfinance Information eXchange (MIX) announced the release of the 2006 Nicaragua Microfinance Benchmarking Report, currently available only in Spanish. The report, produced with MIX’s partner REDCAMIF, compares the performance of Nicaraguan institutions with their peers within the country and in the entire Central America region. It also presents for the first time three-year dynamic trend data on Nicaraguan microfinance institutional performance.
MIX produces a series of microfinance institution benchmarking reports throughout the developing world, in an effort to help the industry better understand the trends, cycles and social and economic forces that impact the microfinance sector. The Nicaragua Benchmarking Report contains information on 20 Nicaraguan MFIs, the largest sample collected to date. The sample represents a total loan portfolio of USD 371 million, and 461,000 borrowers. With 126,000 savers, the deposits totaled USD 70.3 million.
The report indicates that the Nicaraguan microfinance sector grew quickly in 2006, reaffirming its lead in Central America. Due to rising average loan balances and improved systems, MFIs significantly improved operating efficiency, resulting in an increase in profitability. However, both financial expenses and delinquencies increased for the year.
The Nicaragua Benchmarking Report is currently available in Spanish, with an English version set for release by end of 2007.
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