Yoma Bank of Myanmar recently agreed lend MMK 6.8 billion (USD 4.4 million) to BRAC Myanmar Microfinance Company to help it reach an additional 15,000 women and low-income families in rural and suburban Myanmar. This follows a similar loan the parties inked in March 2018 in the amount of MMK 2 billion (USD 1.3 million).
BRAC Myanmar, a unit of Netherlands-registered Stichting BRAC International, had total assets of USD 10 million, gross loan portfolio of USD 9 million, member savings of USD 947,000 and return on assets of 0.42 percent as of 2017. The microbank has 49 offices in rural Yangon, Bago, Mandalay, Naw Pyi Taw and Sagaing.
BRAC International, which grew from Bangladeshi NGO Building Resources Across Communities (BRAC), provides microfinance, food security, community development, water, sanitation, disaster relief, social enterprise support and human rights advocacy in 11 countries in Asia and Africa. During 2017, BRAC International served 110 million people, of whom 5.7 million borrowed USD 3.6 billion from the institution.
Founded in 1993, Yoma Bank operates 75 branches in Myanmar as of 2018. It has total assets of MMK 2 trillion (USD 1.3 billion), deposits of MMK 1.8 trillion (USD 1.1 billion) and a loan portfolio of MMK 1.4 trillion (USD 880 million).
Yoma Bank’s other investments in microfinance include loans to Pact Global Microfinance Fund, a microfinance institution in Myanmar that is affiliated with US-based NGO Pact; VisionFund Myanmar, which is affiliated with the US-based NGO World Vision; and Advans Myanmar, which is a member of the Advans Group, a for-profit entity managed by Horus Development Finance of France.
By Michelle Fleming, Research Associate
Sources and Additional Resources
Yoma Bank press release
https://www.yomabank.com/yoma-bank-and-brac-myanmar-microfinance-company-limited-strengthen-their-partnership-with-a-new-funding-agreement.php
BRAC Myanmar
http://www.bracinternational.nl/en/where-we-work/myanmar/
BRAC Myanmar financial report
http://www.brac.net/images/reports/2017/MYANMAR.pdf
BRAC International
http://www.brac.net
MIX profile on BRAC Myanmar
https://www.themix.org/mixmarket/profiles/brac-myanmar
MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GGAMF) Loans $6m to Proximity, BRAC, Vision Fund for Microlending in Myanmar
https://www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-ggamf-loans-6m-proximity-brac-vision-fund-microlending-myanmar/
Yoma Bank
https://www.yomabank.com
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