Yoma Bank of Myanmar recently agreed to lend a total of MMK 8 billion (USD 5 million) to Easy Microfinance of Myanmar to enable the microfinance institution (MFI) to extend its lending to an additional 28,000 borrowers, primarily owners of micro- and small businesses. Easy Microfinance provides loans ranging in size from MMK 1 million (USD 630) to MMK 10 million (USD 6,300) to small businesses and individuals who don’t have access to conventional financing methods.
Easy Microfinance, a for-profit MFI established in 2016, serves approximately 70,000 clients through 12 branches. As of 2018, it has a loan portfolio of MMK 20 billion (USD 12.6 million).
Founded in 1993, Yoma Bank operates 75 branches across Myanmar as of 2018. It has total assets of MMK 2 trillion (USD 1.3 billion), total deposits of MMK 1.8 trillion (USD 1.1 billion) and total loan portfolio of MMK 1.4 trillion (USD 8.8 million).
By Michelle Fleming, Research Associate
Sources and Additional Resources
Yoma press release
https://www.yomabank.com/yoma-bank-and-mc-easy-microfinance-company-limited-signed-two-mmk-4-billion-funding-agreements.php
Easy Microfinance homepage
http://www.easy.com.mm
Yoma homepage
https://www.yomabank.com
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