Hayman Capital (Microfinance) Company Limited, a licensed deposit-taking microfinance institution (MFI) in Myanmar, recently received loans totaling USD 13.75 million to support microlending in the Ayeyarwaddy, Bago, Magway, Mandalay, Nay Pyi Taw, Sagaing and Yangon regions. The MFI is a fully owned subsidiary of Hayman Capital Private Limited, a Singapore-based investment and financial holding group.
The first of Hayman Microfinance’s loans was a 3-year contract of USD 2 million from Switzerland-based social investor Symbiotics in February 2019. Maybank Myanmar lent the MFI USD 3 million in August for a two-year period. The Microfinance Initiative for Asia (MIFA) Debt Fund and the Enabling Microfinance Fund (EMF), both of which are managed by Switzerland-based impact investment manager BlueOrchard Finance, provided a total of USD 2.75 million to Hayman Microfinance in September. Lastly, Myanmar-based Asian Green Development (AGD) Bank loaned the MFI MMK 10 billion (USD 6 million) in October.
Sultan Marenov, Chairman of the Board of Directors of Hayman Microfinance, expressed gratitude to AGD Bank for its support of the MFI’s “efforts on delivering the demand-driven financing to the rural and underbanked population of Myanmar and female-led businesses to help them grow.”
Hayman Microfinance has 120,000 active clients, including individuals, group borrowers, and small and medium-sized enterprises. It holds total assets of USD 22.75 million, a loan portfolio of USD 20 million and USD 2.7 million in client deposits. The MFI was founded in 2014 and has 19 branches in the Ayeyarwaddy, Bago, Mandalay and Yangon regions of Myanmar. It is in the process of expanding into the Nay Pyi Taw, Magway and Sagaing regions.
Established in 2010, AGD Bank has 77 branches in Myanmar as well as an international banking division that provides “international remittance services, foreign exchange and agent banking operations.” The bank offers services such as AGD Pay and payments cards through MPU, UnionPay and Visa. Financial data on the firm are unavailable.
BlueOrchard Finance was founded in 2001. It has offices on four continents and has invested USD 3.5 million in microfinance and other impact assets under management in 475 institutions across 80 emerging markets. In addition to microfinance, it invests in areas such as education, initiatives to mitigate climate change, inclusivity, and provides impact investment solutions to qualified investors.
Malaysia-based Maybank, which offers both Islamic and conventional banking, insurance and other financial services, is present in 16 countries and has total assets of MYR 844 billion (USD 202 billion).
Founded in 2004, Symbiotics provides for-profit investment intermediary and business services to investors in and practitioners of micro-, small and medium-sized enterprise (MSME) development. As of 2019, the company’s’ 272 local financing intermediaries finance 1.7 million small businesses and households at the base of the pyramid in 71 emerging markets. Symbiotics also offers Syminvest, a microfinance investment information platform.
By Anna Gravois, Research Associate
Sources and Additional Resources
Data provided directly to MicroCapital by Hayman Microfinance
Hayman Microfinance press release on Symbiotics investment
https://www.hayman-capital.com.mm/index.php/news-home?start=7
Hayman Microfinance press release on BlueOrchard investment
https://www.hayman-capital.com.mm/index.php/news-home/143-hayman-microfinance-receives-us-2-75-million-debt-capital-from-blueorchard
Hayman Microfinance press release on Maybank investment
ps://www.hayman-capital.com.mm/index.php/news-home?start=3
Hayman Microfinance press release on AGD investment
https://www.hayman-capital.com.mm/index.php/news-home/145-hayman-microfinance-raises-mmk-10-billion-debt-capital-from-agd-bank-to-accelerate-its-operations
Hayman Microfinance webpage
https://www.hayman-capital.com/myanmar.html
Hayman Capital Private Limited homepage
https://www.hayman-capital.com
AGD Bank homepage
https://www.agdbank.com
BlueOrchard homepage
https://www.blueorchard.com
Maybank homepage
https://www.maybank.com
Symbiotics homepage
https://symbioticsgroup.com
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