The International Finance Corporation (IFC), a member of the World Bank Group, recently lent USD 7 million to Opportunity Bank Serbia (OBS) for on-lending to farmers as well as micro- and small enterprises with the intent of helping them grow and create jobs in rural areas. IFC will also provide OBS with advisory services to help the bank digitize its operations.
OBS, which is affiliated with the US-based nonprofit Opportunity International, has 300 employees in 27 offices in Serbia including its head office in Novi Sad. As of 2016, OBS has total assets of USD 126 million, a gross loan portfolio of USD 97.5 million, total customer deposits of USD 70 million, return on assets of 0.68 percent and return on equity of 3.40 percent.
Founded in 1971, Opportunity International is a nonprofit organization that provides loans, savings, insurance and training to 14.3 million individuals – primarily women – in 24 countries in Africa, Asia, Europe and Latin America. Based in the US city of Chicago, Opportunity International also has administrative offices in Australia, Canada, Germany, Hong Kong, Singapore, Switzerland and the UK.
IFC offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. As of 2016, IFC has 184 member countries and total assets of USD 90 billion.
By Ryan Gauthier, Research Associate
OBS 2016 Annual Report:
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