The MIX Market has released an analysis of Russian microfinance data entitled “Russia Microfinance Trend Report 2008-2009,” which states that the peak of the crisis in the Russian microfinance sector occurred at the end of 2008 and in early 2009. In the second half of 2009 the authors observed a 9 percent growth in the savings portfolio compared to the first half of 2009. During 2009, the average loan portfolio dropped by about 15 percent and the average number of active borrowers dropped by 20 percent by the beginning of 2010. The loan portfolio-at-risk was 7.3 percent in the beginning of 2010, compared with 3.3 in the beginning of 2009. The report covers data from the same 33 microfinance institutions (MFIs) for both the 2008 and 2009 time periods. Total assets for 2009 were USD 3,385,854, compared to USD 2,695,106 in 2008. The full report can be found at MIX Market’s website at http://www.themix.org/sites/default/files/2008-2009%20Russia%20Microfinance%20Trend%20Report%20-%20English.pdf.
By Julia Korn, Research Associate
About the Microfinance Information Exchange (MIX):
Established in 2002, Microfinance Information Exchange (MIX) is a nonprofit organization with headquarters in Washington, DC, and regional offices in Peru, Senegal, India and Indonesia. MIX provides detailed financial and social performance information from microfinance institutions (MFIs), as well as business information from market facilitators and donor organizations and investors in microfinance. MIX was founded by CGAP (Consultative Group to Assist the Poor) and is sponsored by Citi Foundation, Deutsche Bank Americas Foundation, International Fund for Agricultural Development (IFAD), and the Bill & Melinda Gates Foundation.
Sources and Additional Resources:
[1] The MIX Market. “Russia Microfinance Trend Report 2008-2009” by Mikhail Mamuta, et al. http://www.themix.org/sites/default/files/2008-2009%20Russia%20Microfinance%20Trend%20Report%20-%20English.pdf
MicroCapital Universe. Microfinance Information Exchange (MIX). https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Microfinance+Information+Exchange+%28MIX%29
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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