A new report by ING Bank, “A Billion to Gain? A study on global financial institutions and microfinance” takes a look at the emerging role of international commercial banks in the microfinance industry. ING Group is a Dutch company providing worldwide financial services including banking, insurance and asset management to clients in more than fifty countries. As of January, 2006 ING was ranked as the 13th largest financial institution in the world.
In the past year, spurred in part by the UN’s declaration of 2005 as the Year of Microcredit, many major international banks have announced initiation or expansion of microfinance-related activities. This has left some to wonder åö why the shift and what’s in it form them? Microfinance is a win-win situation åö it enables these banks to reach new markets while also creating a sense of goodwill. Over the course of the next several weeks åö we will be highlighting the microfinance activities of these major international players. To start things off, we’ll take a look at ABN AMRO VN. Headquartered in
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[…] A study on global financial institutions and microfinance” report by ING. MicroCapital also reported on the original study’s findings as well as highlighted the microfinance activities of some […]