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THE
MICROBANKING
BULLETIN NO. 18
MICROBANKING BULLETIN
The MICROBANKING BULLETIN is one of the principal
outputs of the Microfinance Information eXchange, Inc
Microfinance information eXchange, Inc
The MICROBANKING BULLETIN disseminates the results
of this comparative analysis. Participating institutions
provide their financial data on a voluntary basis, and in
return receive a program report that benchmarks their
results with those of their peer group. All data are
maintained strictly confidential.
The
Pre
mie
r
The MICROBANKING BULLETIN
The MICROBANKING BULLETIN is intended to improve
the financial performance of microfinance institutions
(MFIs) through the publication and dissemination of
the industry's financial results. The financial results of
MFIs around the world are gathered, put on common
ground and compared.
f
s
ark
m
nch
e
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In
Issue No. 18 Spring 2009
Microfinance Information Exchange, Inc.
1901 Pennsylvania Avenue, NW Suite 307
Washington, DC 20006
Tel: +1 202 659 9094
Fax: +1 202 659 9095
e-mail: [email protected]
website: www.mixmbb.org
Published by
Microfinance Information eXchange
Issue No. 18
Spring 2009
A publication dedicated to the performance of organizations that
provide banking services for the poor
The
MicroBanking
Bulletin
Issue No. 18
Spring 2009
A Publication Dedicated to the Performance of
Organizations that Provide Banking Services for the Poor
Copyright (c) 2009
Microfinance Information Exchange, Inc.
The MicroBanking Bulletin is published twice annually by Microfinance Information Exchange, Inc.
ISSN 1934-3884. Copyright 2009. All rights reserved. The data in this volume have been carefully compiled and are believed
to be accurate. Such accuracy is not however guaranteed. Feature articles in MBB are the property of the authors and
permission to reprint or reproduce these should be sought from the authors directly. The publisher regrets it cannot
enter into correspondence on this matter. Otherwise, no portion of this publication may be reproduced in any format
or by any means including electronically or mechanically, by photocopying, recording or by any information storage or
retrieval system, or by any form or manner whatsoever, without prior written consent of the publisher of the publication.
Prepared by: Job Continent Inc. www.jobcontinent.com
We would like to thank the following institutions for their participation in this issue:
REGION
COUNTRY
Africa
(69 MFIs)
Benin
Burkina Faso
Cameroon
Congo
Congo, Democractic Republic of
Ethiopia
Ghana
Kenya
Malawi
Mali
Mozambique
Nigeria
Rwanda
Senegal
South Africa
Swaziland
Tanzania
Togo
Uganda
Zambia
# MFIS
2
1
3
1
1
12
13
6
1
4
5
2
1
2
2
1
4
2
5
1
PADME, Vital Finance
RCPB
CamCCUL, CCA, CDS
CAPPED
FINCA-DRC
ACSI, AVFS, BG, DECSI, Eshet, Gasha, Metemamen, OMO, PEACE, SFPI, Wasasa, Wisdom
APED, Bessfa RB, CFF, FASL, Kakum RB, Maata-N-Tudu, Naara RB, OISL, ProCredit-GHA, SAT, Sonzelle RB, Toende RB, Upper Manya RB
Equity Bank, KADET, K-Rep, KWFT, MDSL, SMEP
FINCA-MWI
Jemeni, Kafo Jiginew, Kondo Jigima, Nyèsigiso
BOM, FCC, FDM, NovoBanco-MOZ, Tchuma
LAPO, SEAP
UOMB
ACEP Senegal, CMS
Capitec Bank, SEF-ZAF
FINCORP
Akiba, FINCA-TZA, PRIDE-TZA, SEDA
FUCEC Togo, WAGES
Centenary Bank, Faulu-UGA, FINCA-UGA, MED-Net, UML
FINCA-ZMB
Asia
(117 MFIs)
Afghanistan
Bangladesh
Cambodia
China
India
5
7
9
1
32
Indonesia
12
Nepal
Pakistan
Philippines
4
6
37
Samoa
Sri Lanka
Thailand
Vietnam
ARMP, BRAC-AFG, FINCA-AFG, FMFB-AFG, Parwaz
ASA, BRAC, BURO Bangladesh, Grameen Bank, IDF, JCF, TMSS
ACLEDA, AMK, AMRET, CREDIT, HKL, PRASAC, Sathapana Limited, TPC, VFC
CZWSDA
ABCRDM, AML, AMMACTS, Bandhan, BASIX, BFL, BISWA, BSS, Cashpor MC, CReSA, ESAF, GK, GU, GV, KAS, KBSLAB, KRUSHI, MahasemamSMILE, MFI, RASS, RGVN, Saadhana, Sanghamithra, Sarvodaya Nano Finance, SHARE, SKDRDP, SKS, SMSS, Spandana, SWAWS, Ujjivan, VFS
LPD Ambengan, LPD Bayung Gede, LPD Bedha, LPD Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh, LPD Kuta, LPD Pecatu, LPD Sibetan,
LPD Ubung, MBK Ventura
DD Bank, MGBB, Nirdhan, PGBB
DAMEN, FMFB-Pakistan, Kashf, Khushhali Bank, NMFB, Rozgar
1st Valley Bank, ABS-CBN, ASHI, Banco Santiago de Libon, Bangko Kabayan, Bangko Mabuhay, BCB, Cantilan Bank, CARD Bank, CARD
NGO, CBMO, CEVI, CMEDFI, ECLOF-PHL, FCBFI, FICO, Green Bank, Kasagana-Ka, Kazama Grameen, KMBI, Mallig Plains RB, MEDF, New RB
of Victorias, NWTF, OMB, PALFSI, RB Digos, RB Lebak, RB Mabitac, RB Oroquieta, RB Solano, RB Sto. Tomas, RB Talisayan, TSKI, TSPI, Valiant
RB, VEF
SPBD
SEEDS
SED
CEP
ECA
(98 MFIs)
Albania
Armenia
Azerbaijan
Bosnia and Herzegovina
3
8
9
13
Bulgaria
Croatia
Georgia
Kazakhstan
Kosovo
Kyrgyzstan
Macedonia, Former Yugoslav Republic of
Moldova
Mongolia
Montenegro
Poland
Romania
Russia
Serbia
Tajikistan
Ukraine
4
2
7
2
7
4
4
2
3
2
1
3
11
3
8
2
LAC
(179 MFIs)
Argentina
Bolivia
2
17
Brazil
Chile
Colombia
5
3
14
Costa Rica
Dominican Republic
Ecuador
7
3
20
El Salvador
10
Guatemala
15
Haiti
Honduras
4
10
Mexico
Nicaragua
7
16
Panama
Paraguay
Peru
2
6
37
Venezuela
1
FIE Gran Poder, Grameen Mendoza
AgroCapital, BancoSol, Coop Fátima, CRECER, Diaconia, EcoFuturo FFP, Emprender, FADES, Fassil FFP, FIE FFP, FONCRESOL, Fortaleza
FFP, FUNBODEM, IMPRO, ProCredit-BOL, PRODEM FFP, ProMujer-BOL
Banco da Familia, CEADe, CEAPE Maranhão, CrediAmigo, ICC BluSol
BancoEstado, BanDesarrollo Microempresas, Credicoop
Actuar Caldas, Actuar Tolima, BCSC, CMM Bogotá, CMM Medellín, Contactar, FinAmérica, FMM Bucaramanga, FMM Popayán, FMSD,
Interactuar, Microempresas de Antioquia, OLC, WWB Cali
ACORDE, ADRI, CREDIMUJER, FIDERPAC, FOMIC, Fundación Mujer, FUNDECOCA
ADOPEM, Banco ADEMI, Fundación San Miguel
Banco Solidario, CEPESIU, COAC Acción Rural, COAC Jardín Azuayo, COAC MCCH, COAC Mushuc Runa, COAC Sac Aiet, COAC San
José, CODESARROLLO, Credi Fé, D-Miro, FED, FINCA-ECU, FODEMI, Fundación Alternativa, Fundación Espoir, FUNDAMIC, INSOTEC,
ProCredit-ECU, UCADE Ambato
ACCOVI, AMC de R.L., Apoyo Integral, ASEI, ENLACE, Fundación CAMPO, FUNSALDE, Genesiss, ProCredit-SLV, Sociedad Cooperativa
PADECOMSM
AGUDESA, ASDIR, Asociación Raíz, AYNLA, CDRO, CRYSOL, FAFIDESS, FAPE, FINCA-GTM, FONDESOL, Friendship Bridge, Fundación
MICROS, FUNDEA, FUNDESPE, Génesis Empresarial
ACME, Fonkoze, MCN, SOGESOL
ADICH, BanCovelo, FAMA OPDF, FINCA-HND, FINSOL, FUNDAHMICRO, FUNED, Hermandad de Honduras OPDF, ODEF Financiera S.A.,
World Relief-HND
ADMIC, ASP Financiera, Caja Popular Mexicana, CompartamosBanco, FINCA-MEX, FinComún, ProMujer-MEX
ACODEP, ADIM, BANEX (ex FINDESA), CEPRODEL, FDL, Financiera Fama, FINCA-NIC, FODEM, Fundación León 2000, Fundación
Nieborowski, FUNDENUSE, FUNDESER, PRESTANIC, ProCredit-NIC, PRODESA, ProMujer-NIC
Microserfin, ProCaja
Coop Universitaria, FIELCO, Financiera Familiar, Fundación Paraguaya, Interfisa, Visión Banco
ADRA-PER, AMA, Asociación Arariwa, Caja Nor Perú, Caritas, CMAC Arequipa, CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC
Ica, CMAC Maynas, CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC Trujillo, COOPAC San Martín, COOPAC Santo Cristo, CRAC Los Andes,
Crediscotia, EDAPROSPO, EDPYME Alternativa, EDPYME Confianza, EDPYME Crear Arequipa, EDPYME Crear Tacna, EDPYME Efectiva,
EDPYME Nueva Visión, EDPYME Proempresa, Financiera Edyficar, FINCA-PER, FONDESURCO, FOVIDA, IDESI Lambayeque, Manuela Ramos,
MiBanco, MIDE, PRISMA, ProMujer-PER
BanGente
MENA
(24 MFIs)
Egypt
Jordan
Lebanon
Morocco
Palestine
Tunisia
Yemen
6
4
2
7
2
1
2
ABA, Al Tadamun, CEOSS, DBACD, Lead Foundation, SBACD
AMC, MEMCO, MFW, Tamweelcom
Al Majmoua, Ameen
Al Amana, Al Karama, AMSSF/MC, FBPMC, FONDEP, INMAA, Zakoura
FATEN, UNRWA
Enda
Azal, NMF
1
1
1
1
Name of Participant
BESA, Opportunity Albania, ProCredit Bank-ALB
ACBA, AREGAK, ECLOF-ARM, FINCA-ARM, Horizon, INECO, KAMURJ, SEF-ARM
AccessBank, Azercredit, Azeri Star, CredAgro NBCO, FINCA-AZE, FinDev, MikroMaliyye Credit, Normicro, Viator
EKI, LIDER, LOK Microcredit Foundation, MI-BOSPO, MIKRA, Mikro ALDI, MIKROFIN, Partner, PRIZMA, ProCredit Bank-BIH, SINERGIJA,
Sunrise, Women for Women
Mikrofond, Nachala, ProCredit Bank-BGR, USTOI
DEMOS SLC, NOA
CREDO, Crystal, FINCA-GEO, ImerCredit, JSC Bank Constanta, Lazika Capital, ProCredit Bank-GEO
Bereke, KMF
AFK, BZMF, FINCA-KOS, KEP, KosInvest, KRK Ltd, ProCredit Bank-KOS
Aiyl Bank, Bai Tushum, FMCC, Kompanion
FULM, Horizonti, Moznosti, ProCredit Bank-MKD
Microinvest, ProCredit-MDA
Khan Bank, TFS, XacBank
AgroInvest, OBM
Fundusz Mikro
CAPA, OMRO, ProCredit Bank-ROM
Alternativa, CEF, FFECC, FORUS, Intellekt, KMB, Rost, SBS, Sodeistviye (Pyatigorsk), Sodeystviye, VRFSBS
MDF, OBS, ProCredit Bank Serbia
Agroinvestbank, Bank Eskhata, FINCA-TJK, FMFB TJK, Imkoniyat, IMON, MLF HUMO, MLF MicroInvest
HOPE, ProCredit Bank-UKR
Abbreviations: ECA = Eastern Europe & Central Asia; LAC = Latin America & the Caribbean; MENA = Middle East & North Africa.
The MicroBanking Bulletin (MBB)
The MicroBanking Bulletin is one of the principal
publications of MIX (Microfinance Information
Exchange, Inc.). MIX is a non-profit company that
works to support the growth and development of a
healthy microfinance sector. MIX is supported by the
Consultative Group to Assist the Poor (CGAP), Citigroup
Foundation, Deutsche Bank Americas Foundation,
Omidyar Network, Open Society Institute, and others.
To learn more about MIX, please visit the website at
www.themix.org.
Purpose
By collecting financial and portfolio data provided
voluntarily by leading microfinance institutions (MFIs),
organizing the database by peer groups, and reporting
this information, MIX is building infrastructure that is
critical to the development of the microfinance sector. The
primary purpose of this database is to help MFI managers
and board members understand their performance in
comparison to other MFIs. Secondary objectives include
establishing industry performance standards, enhancing
the transparency of financial reporting, and improving the
performance of microfinance institutions.
Benchmarking Services
To achieve these objectives, MIX provides the
following benchmarking services: 1) the Bulletin’s
Tables; 2) customized financial performance reports;
and 3) network services.
MFIs participate in the MicroBanking Bulletin benchmarks
database on a quid pro quo basis. They provide MIX
with information about their financial and portfolio
performance, as well as details regarding accounting
practices, subsidies, and the structure of their liabilities.
Participating MFIs must submit substantiating
documentation, such as audited financial statements,
annual reports, ratings, institutional appraisals, and other
materials that help us understand their operations. With
this information, we apply adjustments for inflation,
subsidies and loan loss provisioning in order to create
comparable results. Data are presented in the Bulletin
anonymously within peer groups. While MIX performs
extensive checks on the consistency of data reported,
we do not independently verify the information.
In return, participating institutions receive a comparative
performance report (CPR). These individualized
benchmark reports, which are an important output of
the benchmarks database, explain the adjustments
we made to the data, and compare the institution’s
performance to that of peer institutions. MFI managers
and board members use these tools to understand their
institution’s performance in a comparative context.
The third core service is to work with networks of
microfinance institutions (i.e., affiliate, national, regional),
central banks, and researchers in general to enhance
their ability to collect and manage performance
indicators. MIX provides this service in a variety of ways,
including 1) training these organizations to collect,
adjust and report data on retail MFIs at the local level and
use MIX’s performance monitoring and benchmarking
software, 2) collecting data on behalf of a network,
and 3) providing customized data analysis to compare
member institutions to peer groups. This service to
networks, regulatory agencies, and researchers allows
MIX to reach a wider range of MFIs in order to improve
their financial reporting.
New Participants
Institutions that wish to participate in the Bulletin
database should contact: [email protected], Tel
+1 202 659 9094, Fax +1 202 659 9095. Currently, the
only criterion for participation is the ability to fulfill
fairly onerous reporting requirements. MIX reserves the
right to establish minimum performance criteria for
participation in the Bulletin database.
Submissions
The Bulletin welcomes submissions of articles and
commentaries, particularly regarding analytical work on
the financial performance of microfinance institutions.
Submissions may include reviews or summaries of
more extensive work published elsewhere. Articles
should not exceed 2,500 words. To submit an article,
please contact Elizabeth Downs, Managing Editor, at
[email protected].
Disclaimer
Neither MIX, MBB’s Editorial Board nor do MIX’s funders
accept responsibility for the validity of the information
presented or consequences resulting from its use by
third parties.
The MicroBanking Bulletin
Issue No. 18
Spring 2009
Dedicated to the performance of organizations that provide banking services for the poor.
Editorial Staff
Publisher:
Peter Wall, Executive Director, MIX
Managing Editor:
Elizabeth Downs, Director of Marketing and Communications, MIX
Editorial Board
Craig F. Churchill
International Labour Organization
Asad Mahmood
Deutsche Bank
J.D. Von Pischke
Frontier Finance International
Elisabeth Rhyne
ACCION International
Gabriel Solorzano
BANEX
Chairman Emeritus:
Robert Peck Christen
The MicroBanking Bulletin is a publication of MIX (Microfinance Information Exchange, Inc.)
To learn more about MIX, please visit the MIX website at www.themix.org
Table of Contents
From the Publisher...............................................................................................................................................vii
Feature Articles
The Impact of Inflation on Microfinance Clients and its Implications for Microfinance
Practitioners............................................................................................................................................................. 1
S. Akbar Zaidi, Maheen Saleem Farooqi and Aleena Naseem, for the Pakistan Microfinance
Network
Elevated Food Prices — Impact on Microfinance Clients........................................................................ 6
Zaved Ahmed and Camilla Nestor, Grameen Foundation
Microfinance: Where Do We Stand Today?................................................................................................... 9
By Ajit Jain and Caroline Norton, Deutsche Bank
The Impact of the Financial Crisis on Microfinance Institutions — Results from
a CGAP Survey.......................................................................................................................................................13
Xavier Reille and Christoph Kneiding, CGAP
Bulletin Highlights
Breaking It Down: Subsidy Dependence Index vs. Financial Self-Sufficiency.................................16
Scott Gaul, Product Development Manager, MIX
MFI Trend Lines Analysis....................................................................................................................................20
Blaine Stephens, COO, MIX
Bulletin Tables
Introduction to the Peer Groups and Tables..............................................................................................27
Trend Lines 2005 – 2007 MFI Benchmarks..................................................................................................29
Institutional Characteristics.................................................................................................................29
Financing Structure................................................................................................................................30
Outreach Indicators................................................................................................................................31
Macroeconomic Indicators..................................................................................................................34
Overall Financial Performance............................................................................................................35
Revenues....................................................................................................................................................37
Expenses.....................................................................................................................................................37
Efficiency....................................................................................................................................................38
Productivity...............................................................................................................................................39
Risk and Liquidity....................................................................................................................................40
Index of Terms and Definitions........................................................................................................................41
Index of Indicators and Definitions................................................................................................................43
Guide to Peer Groups — Trend Lines 2005 – 2007 MFI Benchmarks................................................45
Appendices
Appendix I : Notes to Adjustments and Statistical Issues........................................................................74
Appendix II : Participating MFIs Trend Lines 2005 – 2007 Benchmarks..............................................77
From the Publisher
Microfinance in the Global Tsunami —
Will It Stay Afloat?
T
his issue of the MicroBanking Bulletin focuses
on the impacts of the current global economic
crises on microfinance. Yes, I do mean “crises”
in the plural, because there are at least two global
crises underway. While much of the world’s attention
naturally focuses on the epicenters of the global
financial crisis, whose ‘tsunami effects’ of toxic asset
dumping and deflation are spilling over far and wide,
one shouldn’t forget that an inflation crisis affecting
the food prices began much earlier and continues to
grow. The UN’s Food and Agricultural Organization
recently reported an increase of 150 million
chronically hungry people in developing economies
in 2008 – 2009, with prospects of worse to come.
dramatically since the last major test (Asia Crisis, 19972000). MFIs’ relationships to the crises’ epicenters have
greatly intensified. Also, domestic savings’ funding
of microfinance grew greatly in the period, and it
remains to be seen how the poor’s savings patterns
will react in an extended deep crisis.
The microfinance industry has been alert to the
problems, and active in trying to get its hands
around the extent and direction in a fast-changing
environment. Publicly available reports on this include
surveys recently released by Intellecap and the rating
service MicroRate (focusing on Latin America). Both
are highly recommended reading, as their findings
illustrate a wide range of reactions and perceptions
among MFIs and investors. As the MicroRate report
notes, those shifted over a matter of weeks from the
time MicroRate first began their research until they
had completed it, as the tsunami began to show up.
So, in many developing countries, the poor increasingly
face the worst of all possible worlds – inflation which
pushes prices of food and shelter beyond their already
thin means and which destroys any savings they may
have accumulated, and credit squeezes (if they had
any access to credit at all previously), as financial
liquidity dries up throughout financial systems. To
these woes are added the decline in remittances to
families in developing economies as jobs dry up in
developed economies, and price increases associated
with currency depreciations.
The articles and analyses in this issue of MBB bring
together some of the first broader global overviews
of the impact of the crises, and how MFIs are coping.
While we at MIX recognize that the situations are
evolving quickly and that this issue of MBB will very
likely not be the last to have a focus on microfinance
and the global tsunami, we hope it sets a benchmark
of how things looked, close to the start.
To return to the earthquake and tsunami analogies,
microfinance operations will be affected differently
in different countries depending on their distance
from the epicenters, to their prior exposures/
dependence to foreign funding, and on whether they
have ‘safe harbors’ or not. Research on microfinance
institutions’ (MFIs) resilience to past macroeconomic
crises, including work by MIX, has shown MFIs to have
been fairly robust. But the extent of globalization of
economies in general and domestic and cross-border
commercial funding of microfinance has grown
1
2
As I step down as executive director of MIX at the end
of June, this is my last letter as publisher of MBB. It
has been a privilege to be associated with MBB, and
a pleasure to work with the Editorial Board and its
editors. I look forward eagerly to reading future issues
of MBB as another of its thousands of readers.
- Peter Wall, Publisher, MicroBanking Bulletin
“Microfinance and the Global Recession”, Microfinance Insights, Mar/April 2009
“Cautious Resilience: The Impact of the Global Financial Crisis on Latin American and Caribbean Microfinance Institutions”,
MFI Insights, March 2009, MicroRate, Inc.
vii
MICROBANKING BULLETIN, Issue 18, SPRING 2009
FEATURE ARTICLES
MICROBANKING BULLETIN, Issue 18, SPRING 2009
Introduction
A
s the inflation rate in Pakistan crosses 25
percent per annum — the highest in almost
three decades — there is justifiable concern
that the Pakistani citizen, particularly the poor, will
suffer the most and will bear the severest brunt of
this economic crisis. Moreover, along with rising
prices, indications suggest that Pakistan’s economy
is also facing serious constraints and the high growth
rates between 2002 – 2007 may have slowed down
considerably, affecting economic opportunities for all,
but particularly for the poor. Pakistan Microfinance
Network in Islamabad has commissioned this study in
order to understand and document the impact of a
slowing economy and in particular, of rising inflation
on microfinance clients.
This short report highlights findings based on
discussions with 245 microfinance clients, both men
and women, from very wide and diverse backgrounds,
and with the staff of microfinance providers (such as
loan or credit officers) who interact with these clients
at the local, first contact, level and are far more aware
about the conditions of their clients than are middle
and senior management officers. It is important to
state at the outset that this study is not an overview or
assessment of the microfinance sector, of microfinance
clients, or of microfinance institutions or providers. It
has considerably limited ambitions and objectives
and simply aims to understand and document the
impact of inflation on microfinance clients and, to a
limited extent, for microfinance practitioners.
Inflation and its Consequences
Inflation is the phenomenon where prices rise. Hence,
inflation is not at all an uncommon feature of any
economy. In fact, low or manageable levels of inflation
— depending on the nature of the economy — are
highly beneficial to suppliers and producers and act
as an incentive to produce.
The Impact of Inflation
on ARTICLES
FEATURE
Microfinance Clients and its
Implications for Microfinance
A study undertaken by S Akbar Zaidi, Maheen
Saleem Farooqi and Aleena Naseem, for the
Pakistan Microfinance Network
Inflation affects different segments of the population
very differently, a fact often forgotten by most people
and often exaggerated or misrepresented in the
media. In general, inflation affects the rich far less
than the poor, where the rich hold greater assets and
have higher incomes which let them adjust to rising
prices. Salaried individuals tend to be affected a great
deal by inflation as their salaries tend to be ‘sticky’
and often do not rise in proportion to inflation or at
the same speed. In contrast to salaried individuals,
inflation affects many categories of producers in a
neutral manner or can benefit them. For example, to
maintain their profit margins, many producers pass
on all price increases as they take place. Based on the
elasticity of demand for their product or service this
may result in higher or lower profits, or no change.
Inflation, in ‘traditional’ or agricultural societies, is
considered to be an urban phenomenon far more
than it is a rural one based on assumptions such as
rural populations produce a great deal of what they
consume, and that they have less access to ‘modern’
facilities, commodities and goods (such as consumer
items and utilities), the price for which often rise
fastest. Similarly, there is also a marked difference on
savers and borrowers, which has implications for this
study and on microfinance clients more generally.
Savers suffer as the purchasing power of their
monetary assets dwindle in value, whereas those who
have borrowed benefit as inflation rises, since the real
value of their debt is reduced.
Just as we assume that many citizens will suffer
the consequences of inflation, we should also be
open to the possibility that some sections of the
population will benefit from rising prices. This study
tries to highlight where and how both trends persist
amongst microfinance clients.
Microfinance Information Exchange, Inc
1
FEATURE ARTICLES
The Pakistan Context:
Inflation, the Economy and
Microfinance
Before we turn to describe how this study was
conducted, it is important to highlight some of the
issues which relate to Pakistan’s inflation rate, its
economy, and the microfinance sector.
Like much of South Asia, inflation has seldom been
a serious problem in Pakistan, and the inflation rate
has been, for the most part, in single digits. However,
for about a year, but perhaps more markedly since
early 2008, the inflation rate in Pakistan has become
the highest in over three decades, and has shot
up dramatically from the annual 9 percent in fiscal
year 2007 – 2008, to between 23 – 28 percent on
an annualised basis today, with food and fuel prices
driving the price spiral.
While inflation has been perhaps the most visible of
Pakistan’s economic problems in the last few months,
economic slowdown, as illustrated by falling levels of
investment and slowing economic growth, have been
equally troubling. The high growth period of 2002
– 2007, in which growth averaged over 6 percent of
GDP per annum, has been replaced with a forecast for
financial year 2008 – 2009, which could be nearer 4
percent of GDP growth. Similarly, there are predictions
that a slowing economy and high inflation may raise
the unemployment level in Pakistan. Most economists
agree that economic activity, at least for the next year
or so, will be well below the level of the last five years,
affecting profitability, investment, employment and
the poverty level. There are concerns that the dual
problem of rising inflation and a slowing economy
will push more people below the poverty line.
There are reported to be 1.8 million microfinance
clients in Pakistan, which represent different
arrangements of loans — group, individual, etc.
Of these, a great majority are rural clients, which
has important implications for how inflation has
an impact on them. Almost half of microfinance
clients are women. Often, the average profile of a
microfinance client in Pakistan is that she is either a
rural entrepreneur, involved in livestock development
or passes on her loan to a male member of her family.
Also, importantly, it seems that a very large majority
of microfinance clients are repeat clients and once
they begin to use microfinance services, the majority
of clients stay loyal to the microfinance provider.
These characteristics of microfinance clients will help
determine how inflation affects them.
2
Microfinance Information Exchange, Inc
MICROBANKING BULLETIN, Issue 18, SRING 2009
Methodology
This study to assess and observe — but not to measure
— the impact of inflation on microfinance clients,
is built around the Focus Group Discussion (FGD)
approach. Despite its many limitations, this approach
allows us to draw broad conclusions about the impact
of inflation on microfinance clients.
A selection was made of different sorts of microfinance
providers. In all, nine institutions were selected in three
provinces and 12 FGDs were held. In total, 245 clients
were present at the FGD of which 189 (77 percent)
were women.
The FGDs were used to understand how inflation had
an impact on borrowers and how they were coping
under inflationary pressures. Questions were asked
to find out if clients were having problems repaying
their monthly instalments, whether their economic
activity had fallen, and how this affected their
household consumption. Information was acquired to
see if household consumption patterns had changed
in the last year or so as prices had risen. There was
also discussion on how clients were prioritizing loan
instalments in relation to other household expenses
in this inflationary environment compared to the past.
The issue of inflation was not initiated as it was thought
it would be better for clients to volunteer information
and opinions about their concerns themselves and to
prioritise their own issues, of which inflation ought to
have been one. If it was not raised by the discussion
participants, specific questions on inflation were put
to them.
Discussions were held with loan officers and MFP
management to assess whether they saw any changes
in borrowers’ behaviour and their demand for loans
and repayments.
Findings from Focus
Group Discussions
The results from the discussion with microfinance
clients regarding the impact of inflation on their
incomes, assets and repayment capabilities, come as a
complete surprise. Our assumption was, as it is of most
people, that the high inflation rate in Pakistan has been
a disaster for most Pakistanis. However, a predominant
majority of clients who spoke, irrespective of gender,
location, type of activity, amount and purpose of
loan, or by any other criteria, was that inflation was
‘not a problem’. While almost every single participant
in the 12 FGDs felt that the loans were in general
MICROBANKING BULLETIN, Issue 18, SPRING 2009
highly beneficial to them and to their economic
activities, except for a very small minority, most felt
that inflation was not resulting in them having a
significantly negative impact on their businesses or
lives. In fact, there were a large number of clients who
felt that inflation was a positive aspect and that they
were capturing higher profits on account of the price
rises. Overall, one can safely conclude that on the
basis of the FGDs, it was clear that a huge majority felt
that inflation had a neutral influence on them, while a
substantial proportion of the clients felt that inflation
was substantially beneficial.
The explanations of these unexpected findings were
given by the clients themselves. Many felt that in their
line of business, it was easy to pass-on costs which
were imposed on them and were able to argue how
the loan had made it easier for them to deal with
inflation. Moreover, there were certain clients who
confessed that they were passing-on larger amounts
of the rise in their costs and were also ‘causing’
inflation. It has to be remembered, that all these
clients had been given loans in the past and were now
repaying the instalments. Hence, inflation for them
was a relatively more recent phenomenon and took
place largely after they had made use of their loan.
Many urban clients, such as those who had shops or
small outlets, all felt that a lump sum loan allows them
to buy goods in bulk and stock-up. All those clients
who had taken a loan to buy stocks in the past had
done so and were now able not just to pass-on prices,
but also to increase the prices of goods that were
cheaper earlier.
For the most part, in urban areas, with the exception
of men in Orangi (more below) most clients, such as
women who ran beauty parlours in neighbourhoods
or women who were in the small business of making
jewellery or clothes, all claimed to pass-on at least
the full impact of inflation, and hence neutralise the
impact of inflation on them. On being asked if their
clientele had declined or their profits denuded on
account of higher prices for the goods and services
they provided, most said that they had not.
There was also a general understanding about the
inflation phenomenon in Pakistan by almost all
clients. A repeated answer to how these clients, all
across Pakistan, had become immune to inflation and
neutralised its impact was that they were all using
their loans for productive purposes rather than for
consumption needs, and hence would be able to
recoup their investment. Most clients even realised
that the instalments they were paying back every
month were declining in real value due to inflation.
FEATURE ARTICLES
Not a single client complained that they were unable
to repay their instalments.
Moreover, two further explanations were given as
to how in times of high inflation — and every single
client was cognisant of the fact that these were such
times — managed to make profits, were as follows.
Firstly, clients stated repeatedly that they were
working much harder than they had in the past. The
second explanation of how they were dealing with
inflation was that they would include more members
from their household in their economic activity if they
could. In general, many clients said that there were also
more earners in their family and this was helping them
through these times. Additionally, most clients stated
that they were no longer able to maintain any savings.
Without doubt, the greatest beneficiaries of inflation
were agricultural producers and rural dwellers, the
latter representing the majority of clients in the
microfinance sector in Pakistan. Those who grew
some agricultural crop were benefiting from the
higher crop prices and said that they had made many
times the income they anticipated. As microfinance
clients they stated that the lump sum loan amount
had allowed them to purchase inputs for their land in
bulk some months ago, and hence cheaply, and now
they were enjoying the double benefits of higher
support prices for key food crops and for cotton. It
seems that many farmers would have benefited from
the higher output prices of agricultural products, but
the advantage of microfinance clients would be that
they could use the loan to purchase inputs in bulk and
more cheaply. While many farmers borrowed from
numerous sources, it seems that those who borrowed
from non-traditional, formal systems claimed that
they were better off.
Another category in the rural and peri-urban sectors
who said that they benefited markedly by the price
rise were those who had taken loans for livestock,
and particularly for buffaloes and milk production.
At every FGD, clients claimed that the increase in the
purchase price of raw milk had caused their incomes
to grow very substantially. Similarly, flower producers
in Pattoki also stated that while their input prices had
risen slightly, the price they received for flowers in
large urban centres like Islamabad and Lahore was
considerably higher.
There were a very small minority who stated
that inflation had made them worse off. Of these
individuals, perhaps three or four had mentioned that
they may have had to sell a household asset — like a
mobile phone — because they could not afford it and
Microfinance Information Exchange, Inc
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FEATURE ARTICLES
MICROBANKING BULLETIN, Issue 18, SRING 2009
because they needed the money. There was just one
single case of a woman who had said that she had
to switch her child from a private school to a public
school. But these examples were almost non-existent.
However, all the seven clients of the Orangi Charitable
Trust in Karachi stated that they were having great
difficulty coping with repayments, not so much due to
inflation, but because of economic slowdown. These
clients were all involved in the loom/textile sector, a
sector which has suffered a great deal in recent years,
and it was clear that they were struggling. For the most
part, inflation, per se, was not seen as the main culprit.
Discussions with loan and credit officers about
whether it had become particularly difficult for clients
to make the instalment repayments, suggested that
there had been some change, but not a great deal.
In the case of Karachi, it was clear that loan officers
for the Orangi Charitable Trust had to make extra
visits and accommodate clients. Officers in other
microfinance institutions did not state that the
default rate had risen and few stated that they had
significant problems.
To end this section, one can state that inflation, as
such, did not have the negative outcome we thought
it would. Many clients were using inflationary times
to their advantage. Moreover, in urban areas, most
people were complaining about the lack of electricity
and power — and not its price — than they were
of overall inflation. The table below summarizes the
findings from the FGDs.
Table 1
Apparently, it seems, it is not. If we assume that
most clients are accommodating inflation and even
benefiting from it, is this a matter of concern? We
believe it will be, and we try to answer the question
posed as the title of this section.
There are a couple of reasons why inflation did not
seem to be a problem for microfinance clients. The
first and very probable explanation is that perhaps
inflation has not really hit the clients or producers in
general, in term of their profits and income stream. It
is quite possible that the impact of inflation has not
been fully passed through to these clients. If this is
the case, then we can be quite sure that some months
from now, if inflation continues, it will have a strong
impact on the livelihoods of microfinance clients.
Another possible explanation is that the FGD format
does not allow for a fair and honest depiction and
representation of what is actually going on. Perhaps
inflation is affecting clients quite severely but they are
not expressing this concern. However, we feel, for the
reasons given above, that this is unlikely to be the case.
While it is true that the FGD format has limitations, it
is improbable that it would have repressed sentiment
to such an extent that observers would not have been
able to probe further and get to the truth.
Selected Impact of Inflation on Various Categories of Microfinance Clients
Positive
URBAN
Shopkeepers
Traders
Small manufacturer
Textile related business
Fixed income business
Livestock non-milk producers
Milk producers
RURAL
Shopkeepers
Traders
Food crop producers
Other cash crop producers
Livestock non-milk producers
Milk producers
Household handicrafts
4
Is Inflation a Concern for
Microfinance Clients?
Microfinance Information Exchange, Inc
Neutral
Negative
Uncertain
MICROBANKING BULLETIN, Issue 18, SPRING 2009
What also emerged from the FGD was that most
clients, realising that we are living in inflationary
times, felt that the loan amounts made available were
insignificant and were interested in inflation-indexed
loans. However, many did also state that the instalment
amounts should not be raised too significantly as this
would make repayments difficult. For microfinance
providers/institutions rather than clients, the concerns
that will emerge in the future relate to delinquency,
delayed payments and default. At the moment, it
does not seem like these issues are threatening the
functioning of institutions, but it is possible that
they might put a strain on the profitability of some
institutions. Also, it is very clear that if inflation stays
at 20 – 25 percent, most microfinance providers will
have to raise their credit levels to match the real value
of the loans. Whether microfinance providers can do
that will depend on their overall financial strength,
access to funds and ability to respond innovatively.
Conclusions
If inflation has not had a damaging effect on
microfinance clients in the first nine months of 2008
when inflation has touched 25 percent, as a very high
majority of clients claim, it is very likely that it will have
an effect some months from now if inflation continues
to persist. However, if as expected, inflation begins to
FEATURE ARTICLES
fall and becomes more manageable, it seems that the
concern for the impact of high inflation will no longer
exist and that we will return to the situation of a few
years ago. This short, illustrative study suggests that
most clients have been able to deal with inflation and
many, particularly those producing food crops and
agricultural commodities, have actually profited a
great deal from it.These conclusions come as a surprise,
for conventional wisdom would have suggested that
all citizens suffer the impact of inflation.
What emerges from this survey also, is the clear fact
that loans have helped clients, largely because they
have been able to buy cheap, or in bulk, and have
been able to sell at the increased market price. Clearly,
those who have access to credit are at an advantage
compared to those who do not have access to credit
at cheap rates. This has been the general principle
of microfinance and it seems to have particular
significance in the times of high inflation.
If inflation rates persist, some rethinking on the behalf
of microfinance providers may be necessary. They
might have to raise their credit ceilings keeping in
mind the real value of the loan, and may be required to
increase the loan instalment process by some months
to ease the likely pressure on clients.
Microfinance Information Exchange, Inc
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FEATURE ARTICLES
MICROBANKING BULLETIN, Issue 18, SPRING 2009
Elevated Food Prices — Impact on
Microfinance Clients Practitioners
FEATURE ARTICLES
By Zaved Ahmed and Camilla Nestor, Grameen
Foundation
MICROBANKING BULLETIN, Issue 18, SPRING 2009
A
pproximately 1 billion people — or nearly
one-sixth of the world’s population — subsist
on less than USD 1 per day. Of this population,
162 million survive on less than USD 0.50 per day.
According to the International Food Policy Research
Institute, increasing food prices have the greatest
effect on poor and food-insecure populations, who
spend between 70 and 85 percent of their household
income on food. This issue is especially acute for the
poorest people within developing countries — the
very clients that many microfinance institutions (MFIs)
serve. This article will provide a general overview of
the evolving global situation surrounding inflation
linked to increasing food commodity prices and its
impact on microfinance institutions supported by
Grameen Foundation and their clients.
During mid–2008, rising food prices, particularly
for staples like rice, soybeans and wheat, raised
significant concern in the microfinance community
given the disproportionate impact of such high prices
on microfinance clientele and the potential effects
on the clients’ long-term health and food security,
as well as on the MFIs. While global attention has
largely turned away from this issue to focus on the
global financial meltdown, the reality is that food
prices in developing countries remain elevated — in
many cases above international market prices — and
continue to negatively impact microfinance clients.
Table 1
Although global food prices have come down from
the mid – 2008 highs, data from the United Nations
Food and Agriculture Organization (FAO) indicate
that this has not trickled down to the retail level. For
example, the price of rice — the principal source of
food for much of the developing world — remains
significantly higher in most developing countries
than it was in December 2006. To demonstrate this,
Grameen Foundation looked at retail prices of rice in
10 countries during the period 2007 to 2008. In our
calculations, we took quarterly data listed on the FAO
website and indexed it against Q1 2007 prices. Table 1
highlights this.
Even as the price of rice fell from the mid–2008
highs, on average, the price of rice in these countries
increased 50 percent between late 2006 and 2008.
This has forced families who previously spent up to
85 percent of their income on food to either eat less
or consider ways to increase their income. Conversely,
some microfinance clients are fortunate enough that
family members are paid in food grains. Anup Kumar
Singh, Managing Director of Sonata in India observed
the role the informal ‘barter system’ has played to
balance the increased cost of food: “As wages, most
of the agricultural laborers are not receiving cash,
but they receive 5 kg grains…per day. During the
harvesting season they try to earn as much as they
can… to meet their other daily expenses. They [make]
purchases against the exchange of stored grains.”
Index of Retail Prices of Rice by Quarter
Bangladesh
Brazil
Egypt
India
Mozambique
Pakistan
Peru
Philippines
Senegal
Vietnam
1Q 07
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
2Q 07
100.05
96.32
100.00
100.00
100.78
122.36
99.30
102.37
92.40
98.02
3Q 07
110.48
96.32
110.25
100.00
101.71
122.36
105.96
106.48
99.20
99.82
120.34
130.80
107.60
112.16
4Q 07
144.06
102.45
112.70
113.33
112.63
106.39
1Q 08
160.85
107.36
153.69
120.00
123.38
174.26
116.14
136.01
120.00
124.92
2Q 08
160.70
142.33
148.77
133.33
143.65
200.00
135.44
162.07
186.80
184.64
3Q 08
150.38
137.42
N/A
146.67
148.64
200.00
142.81
N/A
184.00
163.11
4Q 08
124.26
126.99
N/A
146.67
156.04
199.83
142.46
N/A
180.00
151.04
6
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FEATURE ARTICLES
MICROBANKING BULLETIN, Issue 18, SPRING 2009
There are several reasons for the disconnect between
international market prices and retail prices in
developing countries. As reported by the Financial
Times: “Food aid officials attribute the disconnect
between local and international food prices to time
lags, poor harvests in developing countries and…
lack of trade finance.”1 We researched the possibility
that excess profiteering by wholesalers was another
cause of the disconnect, but this did not bear out in
the analysis.2
High food prices are likely to persist in the medium
term. While forecasts in the current environment are
subject to considerable uncertainty, the World Bank
expects food prices will remain high in 2009 and 2010.
Table 2 shows that prices are likely to remain well
above 2004 levels through 2015 for most food crops.
These forecasts are broadly consistent with those of
other agencies such as United States Department of
Agriculture and the FAO. While world grain production
is forecast to grow, increased utilization is expected to
lead to a decline in stocks in the 2008/2009 crop year.
The FAO predicts that total grain end stocks will reach
a 25 – year low by the end of crop year 2008/2009.
Impact on Microfinance
Borrowers
Change in food consumption: During GF’s
conversations with MFIs, they raised serious
concerns about the quantity of food consumed by
their borrowers. The increased costs of essentials
are forcing them to eat less. Dr. Aris Alip, Managing
Director of CARD in the Philippines brought this out:
“The immediate impact on our clients was on food
security. I heard stories of mothers cutting down on
consumption of meat (from once a week to once
Table 2
a month) or for worse-off clients, cooking rice into
porridge so a kilo of rice would suffice for a day for a
family of six.”
In the short-run, such frugal practices by microfinance
clients may not have a significant impact, but
if continued on a prolonged basis, can lead to
permanent health damage to them and their families.
Depletion of Savings with MFIs: In some of the
countries where MFIs are allowed to accept savings,
MFIs have started reporting a decrease in the
voluntary savings rate. It is still too early to determine
if this is a general trend or is restricted to specific
regions or countries. However, some MFIs have
noticed that mature clients are withdrawing their
savings to finance their working capital needs, instead
of taking a new loan. This has been reported by MFIs
in Philippines and in Nigeria.
For MFIs that offer savings, this trend has naturally
impacted savings as a funding source for the MFI. It
has also reduced the cushion that clients might have
to weather continued price increases.
Loan Funds Diverted for Consumption: In extreme
cases, clients may be diverting loan funds to buy
essentials to survive. MFIs have to maintain close
contact with clients to identify those who are hit the
hardest by inflationary pressures and take specific
measures to align loan purpose with usage.
Higher Incidence of School Drop-outs: Some GF
partner MFIs reported that their borrowers have
stopped sending their children to school so that
children can support the family’s income generating
activities. This may have severe repercussions on
borrowers’ struggle to break free from the cycle of
Index of Projected Real Food Crop Prices (2004 = 100)
2007
2008
2009
2010
2015
Maize
139
175
165
155
148
Wheat
154
215
191
166
140
Rice
130
243
208
183
160
Soybeans
119
156
147
139
115
Soybean Oil
136
187
173
160
110
Sugar
133
157
167
176
182
SOURCE: The World Bank
‘Poor still hit by high food prices, says UN’ Javier Blas, Financial Times, March 19, 2008.
1
2
To test this hypothesis, GF did an analysis comparing retail and wholesale prices of rice in four countries; there was not a significant differential
between the retail and wholesale prices, indicating that middlemen are not at fault for driving the prices up. Lack of reliable data prevented us from
testing this with a larger sample size.
Microfinance Information Exchange, Inc
7
FEATURE ARTICLES
poverty. In Pakistan, one MFI informally reported
that the drop-out level of clients’ children has almost
doubled during this period.
Impact on Loan Sizes: The impact on loan sizes is not
consistent. In some countries, microfinance borrowers
are requesting larger loans, driven in part by the
increased cost of running their existing ventures. In
other cases, the borrowers feel the need to establish
new ventures to make ends meet, creating additional
funding pressure for MFIs. For example, the average
loan size for the three MFIs GF works with in Nigeria
has increased by 45 percent during the last 12 months.
On the other hand, some MFIs are reporting decreased
demand and in turn, decreasing average loan sizes.
For example, in the Philippines, Dr. Alip of CARD said:
”What is striking is that our clients are themselves
reducing their borrowing (eligible for Peso 5,000 but
they will now borrow Peso 3,000) since they say that
business is not good.” It seems that basic business
practice of frugality during tough times may be lost
on certain Wall Street executives, but not on poor
borrowers in the Philippines.
Impact on the MFI
The impacts noted below are driven in part by
inflation (fueled by food price increases) but are also
attributable to the global financial meltdown. Given
the interconnected nature of global financial and
economic trends, it is not possible to cleanly separate
the impact of one particular driver from the others;
as such, GF has noted the general trends it is seeing
among the MFIs it supports below.
Portfolio Quality: Although it was expected that
rising food prices would impact clients’ ability to
repay, based on the 4Q 2008 data, there is no rise yet
in delinquencies among GF’s partners. Nevertheless,
several MFI leaders have noted that they expect to
8
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MICROBANKING BULLETIN, Issue 18, SRING 2009
see an uptick in portfolio at risk (PAR) if food prices
remain elevated.
Refinancing Risk: As has been reported elsewhere,
refinancing risk is a major issue facing MFIs due to
the twin pressures of contracting liquidity in local
bank markets and among some of the microfinance
investment vehicles, coupled with a reduction in
risk appetite by lenders. The inability to refinance on
attractive terms, or in some cases at all, will likely slow
MFI growth significantly in 2009. Among the 20 MFIs
in GF’s Growth Guarantees portfolio, average quarterly
growth slowed to 11.2 percent in Q4 2008 from 25.0
percent in Q4 2007.
Increased Operating Expenses: The nature of the
microfinance industry is such that wages and salaries
are the single largest expense component for most
MFIs. Inflation will naturally drive wages and salaries
up. Hence, MFIs will either have to find a way to absorb
most of this increase or face the unattractive option of
raising interest rates to end borrowers.
The world in general has moved on from the food price
issue and is focusing all of its resources on combating
the financial sector meltdown. That coupled with
the drop in international food prices from mid-2008
highs has led to a situation where the food price issue
hardly registers on the radar screen now. As we have
shown, however, local food prices are not tracking
international prices, and it is clear that a prolonged
period of continued elevated food prices will have a
significant impact on microfinance clientele.
To date, clients have shown an amazing degree of
resiliency and innovation in absorbing the increase in
food prices. However, these clients’ coping remedies
may have significant long term consequences on
their families’ well being — the impact of which is still
too early to measure.
FEATURE ARTICLES
MICROBANKING BULLETIN, Issue 18, SPRING 2009
Microfinance: Where do we
stand today?
FEATURE ARTICLES
By Ajit Jain and Caroline Norton, Deutsche Bank
MICROBANKING BULLETIN, Issue 18, SPRING 2009
Microfinance — Does
Everything Correlate in
Bad Times?
I
n the last ten years, conventional wisdom has
held that microfinance as an asset class enjoys a
striking lack of correlation with trends in the global
economy. The informality of most of the microbusinesses feeding into the microfinance industry
was supposed to shield it to a certain degree from
macroeconomic booms and busts. Challenging this
assertion, however, is another tenet that emerged
from the decade of Long Term Capital Management,
which holds that in bad times, everything correlates.
With waves of the international financial crisis rippling
through the global economy, the current situation
provides an opportune testing ground to determine
which of these seemingly opposed conventional
wisdoms holds water. While microfinance has
certainly not proved to be immune from the travails
of the traditional banking sector, it has not come
close to suffering the same damage, suggesting that
opportunities still exist in the microfinance sector
for MFIs and for investors. Indeed, MFIs have shown
remarkable resiliency and foresight as they respond
to the crisis by shoring up their core operations and
returning with new purpose to their social missions.
Graph 1
The last decade has witnessed a remarkable rise for
microfinance. International investors discovered
the potential of microfinance in zeal in the second
half of the 2000s, as structured products permitted
microfinance investment vehicles (MIVs) to market
funds to a wide range of investors, from the sociallyoriented development agencies to pension funds
with fiduciary roles. The first microfinance CDO was
closed in 2004, and it was followed shortly afterward
by a string of other structured funds, which offered
private and institutional investors a new opportunity
to acquire notes collateralized by loans to MFIs. These
products allowed MFIs to access large new pools of
funding to fuel remarkable expansion. The models
of structured credit products in microfinance have
stayed conservative, after an initial spurt in innovative
risk distribution mechanisms. The first microfinance
CDO was structured by Blue Orchard and had been
offered with a 100 percent guarantee to the Senior
note holders. This structure soon gave way to a partial
guarantee structure with 40 percent subordination
to the Senior note holders. The Global Commercial
Microfinance Consortium transaction structured by
Deutsche Bank was one of the first of such kind. Most
of the structures marketed since have been modeled
with very similar risk classification mechanisms.
The microfinance industry witnessed rapid growth
over the last few years and in the recent past, much
Growth Patterns in Microfinance
150%
120%
90%
60%
30%
0%
Q2 07
Q3 07
Asset Growth
Growth in Total Capital
Q4 07
Q1 08
Savings Growth
Borrower Base Growth
Q2 08
Q3 08
Q4 08
Q1 09
Growth in External Credit
Microfinance Information Exchange, Inc
9
FEATURE ARTICLES
of this growth was funded through savings deposits
and increasing interest of the mainstream finance
industry in microfinance balance sheet components.
This was complemented by the increasing appetite of
MFIs for a more levered capital structure. However, the
impact of macroeconomic crisis can be clearly seen in
the lowered growth rates over 2008-09.
MICROBANKING BULLETIN, Issue 18, SRING 2009
Concentration Risk in
Microfinance Portfolio
Graph 2
8%
75%
60%
6%
45%
4%
Risk of Mission Drift
Booming local economies spurred the growth of
savings deposits (among MFIs whose legal structures
permitted savings mobilization), as more clients were
able to afford to stash away some of their earnings for
a rainy day. These two pools of funding continued to
deepen up until 2008, providing the means for MFIs to
grow their portfolios and client bases at a staggering
pace, some by 50 to 100 percent year on year.
Although such growth meant that more poor clients
were able to access financial services, not all side
effects of the MFIs’ rapid growth were so positive. As
the sector has embraced commercialization, some
MFIs seeking to take advantage of the commercial
funds that were suddenly so readily available moved
away from their traditional areas of strength, such as
micro group lending, into less familiar products such
as SME lending, in an effort to attract more clients
and cover rising financial costs and operational costs
associated with expansion. With this move into new
businesses came an element of mission drift for some
institutions.
A recent Women’s World Banking study discovered
that as MFIs transformed from NGOs into commercial
entities, their average loan sizes began to grow, and
the number of women served began to decline,
despite the missions of many MFIs in the sample to
serve the poor and in particular, women. Even more
disturbingly, in some markets, as MFIs have grown,
they have encroached upon their peers’ areas of
operation, generating fierce competition and leading
to over-indebtedness of the very borrowers that the
institutions originally sought to aid.
30%
2%
15%
0%
0%
Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09
Top 10 loan concentration
Related Party lending ration
% of Women Borrowers
Single Group Exposure
% Rural
Investor Appetite
When the financial crisis struck in its full strength in
2008, blowing out credit default spreads to levels not
seen in decades, it hit the microfinance investment
industry along with the traditional banking sector.
Liquidity dried up almost overnight, with planned
microfinance funds being pulled late in the marketing
process. Deutsche Bank had been in the process of
structuring a USD 350 million global microfinance
fund during Q3-2008 and was forced to shelve the
marketing plans following a precipitous widening of
credit spreads and a near shut-down of structured
credit products market.
Graph 3
Key Rates in the G3 Countries
7%
6%
5%
4%
3%
2%
1%
0%
The rapid growth of the industry also witnessed
a spike in concentrated exposures to specifically
profitable loan groups and the larger borrowers.
This trend however has been on the decline for the
last three quarters, possibly due to a conservative
approach taken by most MFIs as a response to the
global macroeconomic crisis.
10
Microfinance Information Exchange, Inc
99
00
BoJ
01
02
03
04
ECB refi
05
06
07
08
09
Fed Funds
Various central banks across the world have acted
in close coordination to bring down the overall cost
of borrowing. In microfinance, the cost of borrowing
has typically been significantly below commercial
funding levels.
FEATURE ARTICLES
MICROBANKING BULLETIN, Issue 18, SPRING 2009
Finding themselves with fewer funds available
to put to work in alternative investments, such as
microfinance, investors are now tuning in more closely
to the risks involved in microfinance investments.
Their questions are centering on topics such as
portfolio quality, liquidity risk, open FX risk and
internal controls. In addition, investors are seeking to
be as catalytic as possible with their limited funding,
carefully selecting targeted countries and MFI profiles.
Commitment to a double bottom line objective
has reemerged as a concern for investors, perhaps
an acknowledgement of the unscrupulous lending
practices in the developed world that contributed to
the financial crisis.
As investors take a closer look at these elements of
MFIs’operations and finances, the picture that emerges
is not as discouraging as the global economic malaise
would suggest. While portfolio quality has generally
deteriorated across regions, MFIs are demonstrating
an ability to return to their operational strengths, even
in countries that have been hit hardest by the crisis.
Graph 4
Asset Quality
4%
1500%
1200%
3%
900%
2%
600%
1%
300%
0%
0%
Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09
PAR 1 - 30
PAR > 30
PAR > 90
Net Charge-offs/Loan Loss Exp
LLR Coverage PAR > 30
LLR Coverage PAR > 90
client counts masked problems in the portfolio. Now
that the funding that was feeding this growth has
lessened, these problems are beginning to emerge. In
other cases, MFI clients are feeling the squeeze of the
economic circumstances, as demand for their goods
has fallen off, and they are less able to repay their
loans. MFIs seem to be reacting to these problems by
tightening their credit standards and by lowering the
size of the loans that they offer.
These prudent measures have caused a decline in
the average gross loan portfolio for the first time in
many periods, as MFIs respond to falling portfolio
quality and uncertain future funding by tightening
lending standards, shrinking disbursed loan sizes, and
holding more cash on hand. Interestingly, however,
the average number of active clients has continued
to grow, albeit more slowly than before, signaling
that MFIs on the whole have not been dramatically
wounded by the recent external shocks.
Rather, they seem to be returning to the basics of
microfinance: small loan sizes for short terms provided
in the form of standard products.
Profitability has been leaner since the crisis struck,
though on average it is still positive. As the US
dollar has recently appreciated versus many world
currencies, MFIs that borrowed heavily in hard currency
in the last few years without hedging that exposure
are experiencing losses related to foreign currency
mismatches. In response, MFIs are demanding more
loans in local currency and are working to eliminate
these mismatches by all means at their disposal. In
addition, MFIs are allocating more expenses toward
provisioning to ensure that they have adequately
reserved for delinquencies.
Graph 5
The portfolio delinquencies, as measured by PAR > 30
days and PAR > 90 days have been on the rise over the
last two years.
Responding to the crisis:
Conservative measures
Across Deutsche Bank’s portfolio, in a trend mirrored
by the portfolios of other microfinance fund
managers, Portfolio at Risk > 30 days has risen from
an excellent 1.8 percent to a less spectacular, but
hardly alarming 3.8 percent. In some cases, while MFIs
were growing rapidly, rising loan portfolio values and
Key Performance
Impacting Trends
12%
11%
10%
9%
8%
7%
6%
5%
4%
3%
2%
1
2
3
Financial Costs
4
5
6
7
Provision Exp/Ave. GLP
Microfinance Information Exchange, Inc
8
ROA
11
FEATURE ARTICLES
Rising Financial costs and loan loss provision expenses
have impacted the overall profitability of microfinance
institutions.
Conclusion
Certainly MFIs face challenges as slowing growth and
funding opportunities force them to refine their risk
management systems, to tackle rising delinquencies,
and to actively manage their liquidity, for the first time
for many MFIs. However, we prefer to view the current
situation in the microfinance market as an opportunity
for the best run MFIs to distinguish themselves, for
social investors to prove their commitment to the
field, and for the industry to return to its original social
12
Microfinance Information Exchange, Inc
MICROBANKING BULLETIN, Issue 18, SRING 2009
mission, with renewed attention to initiatives such as
the Client Protection Principles.
To look back to the two original conventional
wisdoms that we began with, perhaps instead of
debunking one or both, we could add a truism of
our own: microfinance may not have completely
decoupled from the global economy, but its resilience
in challenging times should be the envy of banks
across Wall Street.
Note: All charts in this document have been drawn
based on data from the portfolios managed by the
Global Social Investments Group at Deutsche Bank.
FEATURE ACrisis
RTICLES
The Impact of the Financial
on Microfinance Institutions
MICROBANKING BULLETIN, Issue 18, SPRING 2009
Results from CGAP’s March 2009
Opinion Survey
FEATURE ARTICLES
Xavier Reille and Christoph Kneiding1, CGAP
MICROBANKING BULLETIN, Issue 18, SPRING 2009
Introduction
T
he global crisis is spreading quickly in emerging
markets but little is known about its impact on
the microfinance sector: Which regions are most
affected and why? Are microfinance institutions (MFIs)
resilient to this unprecedented economic downturn?
What is the effect of the crisis on MFI business models?
And how do MFIs foresee their liquidity situation in
the near future?
CGAP conducted an online survey with MFIs in
March 2009 to answer some of these questions and
to monitor the impact of the crisis. The survey was
widely disseminated to MFIs with support from MIX
and the Microcredit Summit Campaign, as well as
from several large MFI networks2. Over 400 completed
responses3 were sent back from MFI managers, which
reflected a good distribution among regions4 and
institutional sizes.5
ECA: 44
SA: 59
EAP: 26
MENA: 29
SSA: 115
LAC: 114
With research assistance from Meritxell Martinez, CGAP.
1
2
3
4
5
ACCION, Grameen, FINCA, Freedom from Hunger, MFN, Opportunity, Women’s World Banking, and Sanabel.
Respondents were asked to indicate the asset size of their institutions, for which the following brackets were provided: Tier 1 (assets above $50m),
Tier 2 (assets between $3 – 50m), and Tier 3 (assets below $3m). Around 76 percent of MFIs in our sample are in Tier 2 or 3 and 24% tier one. Credit
unions and cooperatives represent only 14.5% of the sample.
EAP East Asia and Pacific, ECA Europe and Central Asia, LAC Latin America and Caribbean, MENA Middle East and North Africa, SA South Asia and
SSA sub-Saharan Africa.
This article presents the high level findings of the survey with a focus on MFI impact. CGAP will produce another report to be posted on
www.cgap.org with the full results.
Microfinance Information Exchange, Inc
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FEATURE ARTICLES
MICROBANKING BULLETIN, Issue 18, SRING 2009
Dramatic Slowdown in
Portfolio Growth
In Search of Liquidity
Microfinance has enjoyed a decade of exceptional
growth. In 2007 alone the overall loan portfolio of
MFIs reporting to MIX Market increased by 47 percent.
However, the survey results show that this period of
rapid growth has ended. Sixty-five percent of MFI
respondents reported that their gross loan portfolios
remained stable or decreased over the last six months.
This trend was consistent across all regions, but not
across institutional types: MFIs that mobilize savings
(banks and credit unions) experienced significantly
less reductions in their portfolio than those that
depend solely on credit as a source of funding. This
underlines the importance of alternative funding
sources in an economic situation like this. Overall, the
credit crunch and the economic recession are clearly
forcing most MFIs to slow down the growth of their
microcredit portfolios.
80
80
60
60
40
20
Liquidity Constraints Now and
in the Next 6 - 12 Months, by
Size of MFI.
40
20
0
0
Tier 1
Tier 2
Tier 3
Portfolio Quality Down Globally
The lending business contraction is occurring
alongside a deterioration in the quality of MFIs’ loan
portfolios, a trend that according to MIX numbers
had already started in 2007. Sixty-nine percent of
MFI respondents reported an increase in Portfolio
at Risk (PAR). Non-performing loans increased for all
sizes of MFIs with no significant variations among MFI
tiers. The broad increase in non-performing loans as
a percentage of gross loan portfolio reflects clients’
economic hardship. The indicator is also pushed
upwards due to decreasing loan portfolios. The region
hit hardest by this decrease in portfolio quality is ECA,
where 97 percent of institutions report a stagnating
or increasing PAR. Of all regions, EAP and MENA have
been most resilient so far, but even there the majority
of MFIs report deteriorations in their PAR.
14
Figure 2
% of respondents
% of respondents
Portfolio Same or Down Last
Figure 1
6 Months, by Size of MFI.
The liquidity constraints highlighted during CGAP’s
virtual conference in December 2008 are still present,
but less dramatic than the drop in portfolio growth
and the broad increase in non-performing loans.
Overall, 52 percent of the MFI respondents reported
liquidity constraints over the past six months. As could
be expected given their asset size, smaller MFIs are
more affected, with 64 percent of small (tier 3) MFIs
reporting funding problems versus only 35 percent
for large (tier 1) MFIs. Small and medium MFIs appear
to be struggling more with liquidity issues: 74 percent
of small (tier 3) MFI managers expect their liquidity
situation to worsen in the next 6 months. Regionally,
the most pressing needs for capital are in sub-Saharan
Africa and in South Asia (with 68 percent and 57
percent respondents reporting liquidity problems,
respectively).
Microfinance Information Exchange, Inc
Tier 1
Tier 2
mean of liquidity now
Tier 3
mean of liquidity later
A majority of savings-based MFIs (56 percent) does not
face liquidity constraints. However, these institutions
are far from being immune to the effects of the crisis
and reported higher levels of PAR increases versus
non-deposit based MFIs (76 percent of the savingsbased MFIs had an increase in PAR versus 66 percent
for non-deposit based MFIs).
No Significant Business
Adjustments Yet
What has been the MFIs’ response to the crisis so far?
One could assume that increasing costs of funds (in
most markets estimated around 200 to 400 basis
points) could force MFIs to raise their interest rates.
MICROBANKING BULLETIN, Issue 18, SPRING 2009
But most MFIs (61 percent) reported no changes in
their lending rates to clients. Such measures would
indeed be difficult to implement and very unpopular
in times of crisis. The survey also found that 23 percent
of respondent MFIs have been downsizing their
staff to trim costs. This marks a clear reversal of the
expansionary trend in staff levels over the past years.
Conclusion and Outlook
Although opinion surveys are limited in their
explanatory power and potentially biased, the
CGAP study provides an insightful picture of MFI
managerial views on the impact of the global crisis on
microfinance as of March 2009. While in 2008, CGAP’s
FEATURE ARTICLES
“Banana Skins” survey among MFI managers ranked a
lack of funding sources last in terms of potential risks
for the industry, this perception has radically changed
over the past months. Liquidity issues and credit risk
are clearly the biggest managerial concerns, and one
can expect the situation to worsen as the full effects
of the crisis unfold in emerging markets in the coming
months. Amid the gloom, MFI managers appear
surprisingly optimistic: three-quarters of respondents
believe that their performance will remain stable or
improve over the next six months. While this may be
wishful thinking for some MFIs, it could also indicate
that MFI managers are undertaking measures to
confront the crisis and prevent further deterioration.
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BREAKING IT DOWN
BREAKING IT DOWN...
MICROBANKING BULLETIN, Issue 18, Spring 2009
SDI vs. FSS
Scott Gaul, Product Development Manager, MIX
MICROBANKING BULLETIN, Issue 18, SPRING 2009
Introduction
Models vs. Parameters
Microfinance practitioners have often sought a single,
easy-to-understand indicator for evaluating the
performance of microfinance institutions (MFIs). To
date, the most commonly used indicator has been
financial self-sufficiency (FSS). However, FSS is an
incomplete model of an institution’s performance, as
is any single number. The subsidy-dependence index
(SDI) has been suggested as an alternative measure
that more accurately reflects an MFI’s reliance on
subsidies relative to its peers. In this article, we
investigate some of the similarities and differences
between FSS and SDI and compare both indicators on
MBB data from 2003 – 2007.
Before stepping into a comparison of FSS and SDI, it
is important to keep in mind the distinction between
model and parameters. FSS and SDI both incorporate
parameters or external factors — such as the inflation
rate — to adjust MFI performance numbers for context.
If we were to calculate SDI and FSS using different
rates for adjustments, it would not be a reasonable
comparison since we would simultaneously have to
account for differences in the models and in the rates
chosen. Consequently, we will first look at the models,
assuming they have the same parameters. Then, we
can look at the impact of different parameters on
both models.
What is SDI?
Comparing Definitions
The SDI model has been proposed and fleshed out
by Yaron and others in a series of papers.1 The SDI is
‘designed to measure the self-sustainability level of
the MFI with a single number.’ To measure this, SDI
enumerates a range of subsidies potentially received
by an MFI (on an annual basis) and compares the total
subsidy to the income received by the MFI on its loan
portfolio. The comparison of total subsidy and income
from loans (in the form of the SDI) yields two results:
In this section, we break down the formulas for FSS
and SDI to try to understand each model in terms of
the other.3 The formula for FSS can be stated simply as:
[A]n indication of the percentage by which the
average yield obtained on the MFI’s LP [loan
portfolio] would have to increase in order to make
it subsidy independent. It also indicates the cost
to society of subsidizing the MFI, relative to the
interest plus fees paid by the target clientele to
the MFI.2
FSS = (Adjusted Revenue / Adjusted Expense) (1)
However, MBB policy makes only small adjustments
to revenue, so the adjustments primarily affect the
denominator of this indicator. If we separate the
adjustments from the unadjusted expenses, we have
the following approximation:
FSS = Revenue/(Adjustments + Expenses) (2)
A similarly schematic definition of SDI is:
SDI = Subsidy/Loan Revenue (3)
We will cover the formulas for SDI and FSS in more
detail below.
1
Primary resources on SDI used for this note are the following:
Schreiner, M. and Yaron, J. (2001), Development Finance Institutions. Measuring their Subsidy, Washington, DC: World Bank.
Yaron, J. and R. Manos, (2007), Is the microfinance industry misleading the public regarding its subsidy dependence?, Savings and
Development, 2.
2 Yaron and Manos, 2007, 13.
3 For a more detailed version of the following, please see forthcoming MIX paper on SDI and FSS.
16
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BREAKING IT DOWN
MICROBANKING BULLETIN, Issue 18, Spring 2009
Where the level of subsidy is equal to:
Subsidy = Adjustments + Donations (incl. in kind dontions)
+ Net Income (4)
Separating the Net Income term into its components,
and dividing by loan revenue yields:
(Adjustments + Donation – (Revenue – Expense))
(5)
SDI =
Loan Revenue
SDI =
SDI =
(Adjustments + Expense + Donations)
(6)
Revenue
Loan Revenue –
Loan Revenue
(Adjustments + Expense)
Donations
Revenue
(7)
+
–
Loan Revenue
Loan Revenue Loan Revenue
If we assume that total Revenue for an MFI is ‘close’ to
Loan Revenue4, then this can be rewritten as:
And this reduces finally to:
SDI =
(Adjustments + Expense) Donations Revenue
+ Revenue – Revenue (7)
Revenue
SDI = (1/FSS – 1) + Donations/Revenue (9)
While this approximation oversimplifies both models,
it preserves the main insights. The approximation also
holds up when we apply this to actual MFI data. The
formula (9) from above has a 96 percent correlation
with the full SDI, when we calculate both formulas on
the MBB sample from 2003 – 2007.
From the breakdown of the formulas, we can already
learn some things about the relationship between FSS
and SDI:
. FSS
and SDI are closely related — we can
approximate either one well in terms of the other.
.
FSS and SDI are inversely related; as FSS goes up,
SDI goes down.
. SDI is centered around 0, while FSS is centered
around 1 (Institutions with FSS > 1 are ‘financially
self-sufficient’; institutions with SDI < 0 are ‘subsidy
independent’.)
. SDI differs from FSS through the inclusion of
donations inflows.
. FSS differs from SDI through the inclusion of nonloan revenues.
The differences in the formulas also reveal some
of the underlying differences between the models.
Donation income is treated as a ‘below the line’
revenue item in the MBB. In this view of the world,
donation income is not a result of the institution’s
core operations, and therefore is not included in the
main ratios for self-sufficiency or returns. In a sense,
donations are ‘exogenous’ or not determined directly
by the institution’s operations. An MFI could operate
in a country where the government subsidizes
microfinance providers. Or an MFI could operate in a
country that prohibits foreign donors and investors.
These factors are (largely) outside the control of the
MFI’s staff.5 FSS attempts to isolate subsidies that can
be most directly influenced by an MFI’s operations.
The fact that SDI includes these types of ‘exogenous’
factors, like donations (or as we will see later, reserve
requirements), indicates a different view of the world.
SDI views donations as having a social cost — money
that could be reallocated elsewhere — and thus it
includes donations in evaluating MFI performance.
Consequently SDI may be more appropriate for those
concerned with the aggregate flow of donations
in a country or the allocation of capital between
many competing MFIs. In other words, it may be a
more appropriate model of MFI performance when
donations are viewed as an ‘endogenous’ variable
— when the level of donations is determined by the
other variables in the model. It may be less appropriate
for MFI managers or others who could view donations
as essentially outside their control.
Testing SDI and FSS on MFI Data
We know from the breakdown above that SDI and
FSS differ in some respects — inclusion of donations,
inclusion of non-loan revenue. But how significant
are these when looking at real MFI data? Would we
draw different conclusions about the state of the
world in microfinance using one indicator or the
other? To test the models, we have calculated FSS
and SDI on the entire MBB sample from 2003 to 2007,
covering more than 2800 distinct observations. To
4
Results from the 2007 MBB benchmarks indicate that loan revenue is typically over 94 percent of MFI financial revenue, so this should be a
reasonable approximation.
5 Of course, an MFI’s staff can also influence the level of subsidy by deciding whether to target subsidized sources of funds, although this is
partially captured through the subsidized cost of funds adjustment applied to both models.
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17
BREAKING IT DOWN
MICROBANKING BULLETIN, Issue 18, Spring 2009
keep the parameters constant, we have used the same
macroeconomic factors as in the MBB for calculating
both SDI and FSS.6
Tables 1 – 3 display the total numbers of MFIs,
borrowers and savers covered by self-sufficient
(FSS > 1) or subsidy-independent (SDI < 0) institutions
in this period. The rightmost column gives the level of
‘FSS generosity’ — the amount by which FSS is more
generous than SDI at a global level.
As we can see, SDI and FSS give us fairly similar
pictures of the global MFI landscape over time. The
indicators never differ by more than 14 percent in
Table 1
Percentage of Borrowers
Year
FSS > 1
FSS < 1
SDI < 0
SDI > 0
FSS
‘generosity’
2003
87%
13%
79%
21%
8%
2004
87%
13%
82%
18%
5%
2005
86%
14%
82%
18%
4%
2006
75%
25%
70%
30%
5%
2007
51%
49%
48%
52%
3%
Table 2
Percentage of Savers*
Year
FSS > 1
FSS < 1
SDI < 0
SDI > 0
FSS
‘generosity’
2003
79%
21%
73%
27%
6%
2004
87%
13%
86%
14%
1%
2005
82%
18%
80%
20%
1%
2006
85%
15%
80%
20%
5%
2007
78%
22%
77%
23%
1%
*BRI excluded to avoid skewing results
Table 3
Number of Total MFIs
Year
FSS > 1
FSS < 1
SDI < 0
SDI > 0
FSS
‘generosity’
2003
59%
41%
44%
56%
14%
2004
67%
33%
51%
49%
16%
49%
10%
2005
61%
39%
51%
2006
57%
43%
50%
50%
7%
2007
61%
39%
53%
47%
8%
6
their classification of the global microfinance sector. In
general, we see that FSS is more ‘generous’ than SDI as it
classifies a higher percentage of MFIs as self-sufficient,
although this is not always the case. This should not
be surprising given the formula breakdown earlier.
Whenever the level of donations is significant, FSS
will be more generous than SDI.7 In addition, from the
tables, we can see that SDI and FSS are also generally
converging in their view of global microfinance over
time. The largest differences occur furthest in the past;
for 2007, the maximum difference is 8 percent. This
corresponds with changes in the microfinance world
where donations are (at a global level) declining
in importance as more institutions commercialize,
especially many of the largest providers.8
Parameters and Adjustments
A key part of the discussions around SDI and FSS has
been the choice of parameters for the models. So far,
we have compared the models using the typical set of
parameters and adjustments applied in the MBB. For
instance, since MBB uses the deposit rate for the costof-funds adjustment, we have also used the deposit
rate in calculating SDI. This allows us to compare
apples-to-apples when looking at the models.
However, we can also vary the parameters used for the
models, and much of the discussion around SDI has
centered on this choice of parameters.
One change that we could make is to how MFI results
are adjusted for subsidized funds. In both SDI and FSS,
the model determines a ‘market’ cost of funds and
compares that to the level of subsidized financing.
MBB uses deposit rates for the ‘market’ cost of funds,
but Yaron and Manos and others have suggested
using lending rates instead.
Lending rates would reflect the cost of funds for an
MFI in an environment where MFIs have to borrow
money for financing. Deposit rates would reflect the
cost of funds in an environment where mobilizing
(voluntary) deposits represents the market cost of
funds.9 Lending rates should be generally higher than
deposit rates. Applying the lending rate for the costof-funds adjustment should thus lower institutional
self-sufficiency by raising the baseline cost of funds.
While this differs from the treatment recommended by Yaron and Manos, it is done to preserve comparability at this stage. In the full
MIX research paper, more adjustments and parameters are evaluated for FSS and SDI, and both indices are re-calculated using different
parameters.
7 Because of formula (9), one could also consider ‘FSS generosity’ to be an index of the level of donation inflows to MFIs globally.
8 It is worth noting that the sample used here is an unbalanced panel data set. It reflects the rapid growth of the MBB sample over time
(from less than 250 in 2003 to almost 900 in 2007), generally to include smaller or newer institutions. Consequently, we should expect the
differences between the indicators to be more apparent as the sample increases non-randomly over time in scope. (Or alternatively, we
would expect the indicators to be more similar on a balanced panel data set that tracks the same institutions for all years.)
9
We might expect that there would be similar market premiums in both cases for lending to or saving with an MFI.
18
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BREAKING IT DOWN
MICROBANKING BULLETIN, Issue 18, Spring 2009
To test the impact of this change in parameters, we
have recalculated SDI and FSS using the lending rate in
place of the deposit rate. Table 4 contains the results.
Again, we can see that both indicators give roughly
similar pictures of global microfinance — less than
5 percent difference in each year. For both SDI and
FSS, the new levels indicate that more MFIs are
not self-sufficient or subsidy-independent. Perhaps
surprisingly, FSS appears to be a bit more sensitive to
use of the lending rate than SDI is — the average drop
in FSS is greater than the average drop in SDI.
A range of other adjustments to SDI have been
proposed to remove other potential sources of
subsidy. These subsidies are covered in more detail in
a separate paper. The choice of lending rate or deposit
rate for cost-of-funds adjustment has the most impact
among these though.
Table 4
Percentage of Borrowers
(Using Lending Rate)10
Year
FSS > 1
FSS < 1
SDI < 0
SDI > 0
FSS
‘generosity’
2003
84%
16%
78%
22%
5%
2004
59%
41%
56%
44%
4%
2005
79%
21%
80%
20%
-1%
2006
64%
36%
64%
36%
0%
2007
42%
58%
43%
57%
-1%
When to Use SDI or FSS
The distinction between the two models in many ways
boils down to the question ‘where is your bottom line?’
The ‘bottom line’ may differ for policy-makers and MFI
management and staff. Each set of actors may be most
concerned with the bottom line that incorporates the
factors that they can most directly influence. The SEEP
guidelines for performance measurement provide an
example of this distinction in defining two income
statement measures for the ‘bottom line’:
10
11
(I21) Net Operating Income. The microfinance
industry has traditionally considered revenue from
operations less expenses from operations to be
the bottom line. This excludes all non-operating
items that are considered separate from the core
business of providing financial services. Because
donations are not included in net operating
income, it clearly is a “before donations” measure
of profitability. This measure, however, can also be
presented on a “before tax” or “after tax” basis.
(I31) Net Income After Taxes and Donations. From
a regulator’s perspective, the bottom line might
be total revenue less total expenses. Although
donations and other non-operating items may not
be related to the MFI’s core business, they may a
normal part of the MFI’s activity (such as training
revenue or expenses) that increase or decrease
and MFI’s net profit.11
A ‘before donations’ view (as used in FSS), may be
more appropriate for MFI staff since it is restricted
to the core business of providing financial services.
An ‘after donations’ view (as used in SDI) may more
accurately reflect the perspectives of regulators or
other policy-makers. If an institution would like to
raise its FSS level, the FSS formula tells it to increase
revenues or decrease expenses. If an institution would
like to raise its SDI level, the SDI formula tells it to
increase (loan) revenues or decrease donations. An
analyst should consider which of these factors are the
most relevant for their use when selecting models and
comparing indicators. From the quick outline here, we
can see that FSS and SDI contain a good deal of similar
information, and their respective formulas are closely
related. The core difference between the models is
one of perspective, as seen in the different treatment
of the financial ‘bottom line’. While SDI has been
proposed to be used with a different set of parameters
and adjustments than those used typically in the MBB
results, consistent application of these adjustments
across both the SDI and FSS models does not lead to
any greater divergence between the models.
Results for numbers of savers and MFIs are similar, but have been excluded for space.
Barres, I., Bruett, T., Curran, L., Escalona, A., Nelson, E., Norell, D., Porter, B., Stephens, B. & Stephens, M. Measuring Performance of Microfinance
Institutions: A Framework for Reporting, Analysis and Monitoring (Manual); SEEP, 2005. http://www.microfinancegateway.org/content/article/
detail/34713
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19
BULLETIN HIGHLIGHTS
Before the Crisis: A Look at MFI
Trends in 2005 – 2007
Blaine Stephens, COO and Director of Analysis, MIX
MICROBANKING BULLETIN, Issue 18, Spring 2009
Overview of Benchmark Data
By the third quarter of 2008, as the financial crisis was consuming large investment and commercial banks and
the flow of credit dried up, the microfinance community asked itself how the crisis in the broader economy
would impact microfinance institutions (MFIs). Evidence from analysis1 of past crises has shown that MFIs have
weathered earlier financial sector upheavals in Asia and Latin America with only slight increases in arrears and
a negligible rise in actual credit default. Yet, microfinance institutions have changed substantially since those
crises of the late 1990s. Sustained growth rates of 25 percent or more have become the norm in many countries
since 2000, bringing more MFIs face-to-face with each other in many local markets. To finance this growth in loan
portfolio, MFIs have turned from their earlier public funding sources towards their clients and external creditors,
both domestic and foreign. Retail deposits and, for a growing number of MFIs, domestic and cross-border debt
enabled these sustained growth rates in the lending portfolios. Forthcoming 2008 operational and financial
results will yield early insights into the impact of the current crisis on MFIs, but an analysis of the preceding years
will describe the stage as it was set before the crisis began in full. What, then, were the salient evolutions in years
leading up to the crisis?
This analysis highlights several key trends that MFIs underwent in the 2005 – 2007 period. The publication of
MIX’s Trend Lines 2005 – 2007 MFI Benchmarks offers readers the first quantitative view on MFI operational and
financial performance in that period. Covering a pool of 487 MFIs , these benchmarks represent microfinance in
78 countries. Taken together, these MFIs represent 82 percent of outstanding loans and 75 percent of borrowers
at the end of 2007, a robust prism through which to view the evolutions in microfinance institutions in the lead
up to the financial crisis. In addition, this analysis draws on a new data set of funding liabilities for microfinance
institutions as of 2007. Benchmarks and further analysis of that data set are forthcoming.
At a Glance
Growth in Borrowers and
Portfolio 2005 - 2007
Figure 1
. Borrower outreach grew at a persistent rate (26
36
30,000
30
24,000
24
18,000
18
12,000
12
6,000
6
-
-
percent) across all regions, along with the loan
portfolio which grew faster (47 percent) in USD
terms in 2007 due, in part, to a depreciating USD.
At a regional level, the MFIs in Eastern Europe
and Central Asia (38 percent) and Middle East
and North Africa (41 percent) expanded credit
outreach the quickest. Asia added the greatest
number of borrowers (12 million borrowers), for
the sample analyzed. (Figure 1)
2005
2006
2007
42
36,000
2005
2006
2007
42,000
2005
2006
2007
48
2005
2006
2007
48,000
2005
2006
2007
Microfinance institutions underwent several changes
in the 2005 – 2007 period. The following graphics
highlight some of the more important trends:
Africa
Asia
ECA
LAC
MENA
Borrowers
Loan Portfolio (MM USD)
SOURCE: MIX Trend Lines Benchmarks 2005 - 2007. Data represent medians.
1
Gonzalez, Adrian “Resilience of Microfinance Institutions to Macroeconomic Events,” www.themix.org
20
Microfinance Information Exchange, Inc
BULLETIN HIGHLIGHTS
MICROBANKING BULLETIN, Issue 18, Spring 2009
. By the end of 2007, the median MFI in all regions
. As microfinance institutions mature, efficiency
accessed commercial funding, such as deposits
or commercially priced loans, to fund more than
half its loan portfolio. MFIs in Eastern Europe and
Central Asia (71 percent) and Middle East and
North Africa (61 percent) crossed the 50 percent
threshold in 2006 and 2007, respectively. This
shift underscored the cross-border debt and local
market refinancing activity that has expanded
rapidly in the last few years. (Figure 2)
gains have become slimmer. Across the board,
only MFIs in Middle East and North Africa made
productivity gains that impacted efficiency;
otherwise, the cost to serve a borrower remained
constant across all regions. Cost per dollar in
loans continued to drop in sub-Saharan Africa
and Eastern Europe and Central Asia as a direct
result of increasing loan sizes. (Figure 4)
40%
180
35%
160
30%
140
100
20%
80
15%
60
20
2005
2006
2007
40
5%
2005
2006
2007
10%
0
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
120
25%
2005
2006
2007
Shift to Commercial Funding,
2005 - 2007
Figure 2
No Gains in Efficiency,
2005 - 2007
2005
2006
2007
in recent years relative to their asset bases. Small
gains in operating expenses have been offset by
rising funding costs as MFIs shift more funding
to commercial sources. Returns narrowed in all
regions with the spread between top earners and
bottom earners dropping to 5 percentage points
in all regions expect the Middle East and North
Africa. (Figure 3)
Figure 4
2005
2006
2007
. After years of growth, MFIs’ profits have flattened
Africa
Asia
ECA
LAC
MENA
0
Operating Expense/Loans
Cost per Borrower/GNI per capita
Borrowers/Staff
2005
2006
2007
2005
2006
2007
2005
2006
2007
2005
2006
2007
2005
2006
2007
SOURCE: MIX Trend Lines Benchmarks 2005 - 2007. Data represent medians.
Africa
Asia
ECA
LAC
MENA
Capitol Asset Ration
Commercial Funding Liabilities Ration
Figure 3
Stable Returns Narrow
2005 - 2007
8%
6%
4%
2%
0
-2%
-4%
-6%
ROA (range for middle 50%)
2005
2006
2007
2005
2006
2007
2005
2006
2007
2005
2006
2007
2005
2006
2007
-8%
-10%
MFIs Experienced Sustained
Growth, but Some Hot Spots
Emerged …
At a global level, microfinance institutions expanded
their outreach in 2005 – 2007 at much the same pace
as they had over the prior years. As the total number
of borrowers served rose by an average 26 percent
over the period, the median growth rate rose by a few
more percentage points at 30 percent per annum. At
the same time, figures of borrowers served worldwide
did not show any difference in pace of growth over
the two years, with total growth rates for each year
either one percentage point above or below the
total period annualized growth rate. In other words,
growth in borrowers maintained its steady pace.
Such even growth, however, masks the underlying
evolutions in many countries with active
microfinance markets, as Figure 5 and Figure 6
depict. Some countries witnessed increased growth
over the period, while growth in borrowers served
ROA (median)
SOURCE: MIX Trend Lines Benchmarks 2005 - 2007. Data represent medians.
Microfinance Information Exchange, Inc
21
BULLETIN HIGHLIGHTS
Figure 5
MICROBANKING BULLETIN, Issue 18, Spring 2009
Growth in Borrowers Served, 2005 – 2007
Country/Region
Growth in Total
Borrowers
Growth in Median
Borrowers
Globe
26%
30%
Africa
24%
32%
8%
93%
smaller
slower
112,225
Ethiopia
15%
50%
smaller
even
1,390,877
Ghana
33%
27%
larger
slower
227,251
Kenya
65%
45%
larger
slower
757,979
Mali
-2%
12%
smaller
slower
121,091
Mozambique
22%
35%
smaller
even
49,077
3%
-3%
larger
slower
153,416
Cameroon
Tanzania
Uganda
Higher Growth
Rates from Larger or
Smaller MFIs?
Change in Growth
Pace (total) Faster or
Slower?
Total Borrowers
(2007)
even
even
49,176,522
smaller
even
4,176,238
4%
-3%
larger
faster
176,919
Asia
26%
54%
smaller
even
32,078,101
Afghanistan
47%
74%
smaller
slower
261,258
Bangladesh
18%
10%
larger
even
19,110,889
Cambodia
27%
43%
smaller
faster
780,617
India
50%
67%
smaller
slower
9,354,509
Indonesia
82%
4%
larger
faster
75,690
5%
2%
even
even
150,748
Pakistan
46%
105%
smaller
faster
717,747
Philippines
21%
15%
larger
faster
1,361,986
2,146,133
Nepal
ECA
38%
55%
smaller
slower
Albania
14%
34%
smaller
faster
55,033
Armenia
27%
30%
even
faster
189,116
Azerbaijan
76%
43%
larger
slower
179,277
Bosnia and Herzegovina
48%
48%
even
faster
366,100
Bulgaria
20%
-27%
larger
faster
66,354
Georgia
31%
141%
smaller
slower
123,186
Kosovo
34%
23%
larger
faster
109,782
Kyrgyzstan
45%
52%
smaller
even
160,781
Macedonia
34%
15%
larger
slower
42,511
Mongolia
23%
9%
larger
slower
343,783
Romania
35%
19%
larger
even
49,679
Russia
59%
40%
larger
slower
66,665
Serbia
42%
18%
larger
slower
108,019
Tajikistan
83%
100%
smaller
faster
88,657
LAC
23%
24%
even
even
9,002,012
Bolivia
16%
19%
even
faster
699,687
Brazil
23%
29%
smaller
faster
327,853
Chile
13%
23%
smaller
even
285,431
Colombia
31%
24%
larger
even
1,609,218
Costa Rica
8%
-10%
larger
even
9,649
Dominican Republic
18%
20%
even
faster
124,967
Ecuador
13%
23%
smaller
even
498,519
El Salvador
12%
11%
even
faster
163,330
Guatemala
29%
26%
even
even
238,307
Haiti
39%
40%
even
slower
65,019
Honduras
14%
6%
larger
faster
162,631
Mexico
27%
15%
larger
even
1,777,789
Nicaragua
17%
21%
even
slower
472,219
Paraguay
12%
6%
larger
slower
326,159
Peru
27%
32%
smaller
even
2,188,890
MENA
41%
42%
even
slower
1,774,038
Egypt
34%
30%
even
faster
349,210
Jordan
47%
63%
smaller
even
70,745
Morocco
44%
59%
smaller
slower
1,245,378
SOURCE: MIX Trend Lines Benchmarks 2005 – 2007. Data represent totals or medians for growth in borrowers served, as indicated. The 2007 total borrowers should not be
taken as total borrower outreach in the listed regions at the end of 2007. It represents total borrowers for the sample of pool of MFIs analyzed as part of this trend analysis
series, and its relationship to total known outreach varies.
22
Microfinance Information Exchange, Inc
BULLETIN HIGHLIGHTS
MICROBANKING BULLETIN, Issue 18, Spring 2009
Figure 6
Country Growth in Borrowers Against Global Trends, 2005 - 2007
Total Growth
150%
100%
50%
0%
50%
100%
150%
Median Growth
SOURCE: MIX Trend Lines Benchmarks 2005 - 2007. Data represent the total and median growth in borrowers by country. The diagonal line draws out even growth
distribution of growth. The horizontal and vertical lines represent global growth rates.
slowed for others. The vertical and horizontal lines
in Figure 6 mark global growth trends. At a regional
level, the more mature markets in Latin America grew
less quickly than the global norm, as did the more
sparsely served countries in sub-Saharan Africa. Only
Peru and Haiti stand out for their above average rates,
and the growth in the latter stems from renewed
activity after years of disrupted growth from sociopolitical instability.
Fast growing markets and MFIs face unique risks in a
sudden downturn: access to subsequent loans forms
a cornerstone of the microfinance credit model,
and any sudden reduction in lending activity may
undermine that incentive system. Two regions, the
Middle East and North Africa and Eastern Europe
and Central Asia, quickly added new borrowers
throughout the 2005 – 2007 period. Eastern Europe
and Central Asia dominates the list of countries with
annualized borrower growth rates above global
norms during the period. Seven (Armenia, Azerbaijan,
Bosnia, Georgia, Kyrgyzstan, Russia, and Tajikistan)
of the 16 countries in the list are from the region.
For three of them (Armenia, Bosnia, Tajikistan), the
growth rate actually increased in 2007. In countries
like Bosnia, where MIX analysis shows existing high
penetration rates, such growth may well indicate
market overheating in the lead up to the crisis. In
the Middle East and North Africa, both Jordan and
Morocco maintained greater than average growth
rates, with Moroccan microfinance reaching high
penetration levels by 2007. In this country, at least,
the risk associated with high growth going into the
crisis had already attenuated by 2007, as outreach to
microborrowers grew at half the 2006 rate.
In several countries, the market share of borrowers
served became increasingly concentrated in larger
MFIs over the period. Such concentration may create
institutions for which repayment crises have marketwide impacts. These countries show up in Figure 5
where growth in total borrowers outpaces growth
in the median number of borrowers per MFI. They
also appear just above the diagonal line in Figure 6.
Many of these countries were in Eastern Europe and
Central Asia and also represented markets with above
average growth levels, such as Azerbaijan, Macedonia
or Serbia. In other words, a handful of institutions
led market growth in these developing microcredit
markets. At the other end of the spectrum, market
leading MFIs grew faster than smaller institutions
in the well established Bangladeshi market, further
consolidating borrower outreach in this country with
high microcredit penetration and concentration.
High growth in borrowers served tests an MFI’s
systems, particularly its risk management and
controls, and may lead to portfolio quality problems
that become more apparent as growth slows, as it
might during a financial and economic crisis. At the
end of 2007, high growth markets continued to show
good portfolio quality, as Figure 7 depicts, though,
in several portfolio countries quality had already
started to decline. In countries like Tajikistan, Jordan
and Russia, portfolio quality declined quickly relative
to the 2005 base year, but remained low against
global benchmarks. In two countries portfolio
quality changes looked more worrisome at the end
of 2007. In Morocco, while the median MFI posted
portfolio at risk over 30 days less than 2 percent, the
portfolio quality had reached that level from near
Microfinance Information Exchange, Inc
23
BULLETIN HIGHLIGHTS
Figure 7
MICROBANKING BULLETIN, Issue 18, Spring 2009
Changes in Portfolio Quality for Countries with High Growth Rates, 2005 - 2007
160%
16%
120%
12%
80%
8%
40%
4%
0%
0%
Change in Median Borrowers
Ar
m
en
ia
Ru
s
Change in Median PAR > 30
Pe
ru
sia
iti
Ha
Ke
ny
a
Az
er
ba
ija
n
Ca
m
bo
di
a
H
Bi
co
Ky
rg
ys
ta
n
or
oc
M
rd
an
Jo
Ta
jik
Pa
k
or
gi
Ge
In
di
a
-8%
ist
an
Af
gh
an
ist
an
-80%
ist
an
-4%
a
-40%
Median PAR > 30 (2007)
SOURCE: MIX Trend Lines Benchmarks 2005 - 2007. Data represent changes in the median values. PAR > 30 = portfolio at risk over 30 days; BiH = Bosnia and Herzegovina.
24
Microfinance Information Exchange, Inc
Figure 8
MFI Funding Liabilities, 2007
100%
20,000
80%
16,000
60%
12,000
40%
8,000
20%
4,000
0%
A
M
EN
P
EA
ca
Af
ri
As
ia
A
So
ut
h
EC
LA
C
0
al
The growth trends highlighted above relied on new
and varied sources of funding. Exploring how MFIs
finance their microlending helps to identify risks
inherent in the microfinance industry at the outset
of the current financial crisis. As earlier figures have
already shown, debt financing has enabled the
sustained growth in borrower outreach in the last few
years, and the rapid growth in outstanding portfolio.
By 2007, Latin America and Eastern Europe and Central
Asia carried the bulk of that funding, as portrayed
in Figure 8, totaling more than 70 percent of global
deposits, borrowings and other funding liabilities.
At a global level, deposits (45 percent) provided as
much total funding as borrowings (45 percent), but
non deposit debt has two characteristics that make
it worth further investigation in the context of this
2005 – 2007 analysis: 1) more MFIs rely on borrowings
than deposits to fund their portfolios because of the
limited number and deposit taking MFIs, and 2) the
regions with the strongest growth over the period
relied heavily on non deposit financing.
ob
Funded Through New Crossborder and Local Market Debt
Cross-border debt has played an important role in
funding growth over the period. The importance of
this funding source raises some risks such as foreign
currency exposure and the flight of foreign lenders
in the current financial climate. The two regions with
the largest USD value portfolios have also attracted
the largest amount of debt, particularly cross-border
debt, as shown in Figure 10. Countries in Eastern
Europe and Central Asia depend most heavily on
foreign debt, amplified by the fact that non deposit
financing represents 65 percent of total funding
liabilities. On the whole, development organizations,
particularly development finance institutions (DFI),
Gl
zero risk levels in 2005. Kenyan microcredit faced this
problem at a greater magnitude, amplified by sociopolitical unrest at the 2007 year end. Short term
arrears doubled between 2005 and 2007, as total
portfolio at risk rose to 10 percent for the median
MFI, and over 17 percent for the 75th percentile. In
either case, growth in borrowers coupled with rising
arrears sets up any market for increased default risk
in an economic downturn, including the associated
costs of managing a deteriorating portfolio.
Borrowers
Compulsory Savings
Amount (USD MM)
Borrowings
Other
SOURCE: MIX 2007 MFI benchmarks. Data represent totals for each region.
EAP = East Asia and the Pacific; ECA = Eastern Europe and Central Asia;
LAC = Latin America and the Caribbean; MENA = Middle East and North Africa.
Notable exclusions: BRI (Indonesia).
BULLETIN HIGHLIGHTS
MICROBANKING BULLETIN, Issue 18, Spring 2009
Figure 10
2,000
30%
1,500
20%
1,000
10%
500
0%
0
DFI/Government
Fund
Amount (USD MM)
ca
ca
Af
ri
EN
A
M
EA
P
As
ia
2,500
40%
So
So
ut
h
LA
C
EC
A
ob
al
Gl
50%
Af
ri
0
0%
3,000
EN
A
500
10%
3,500
60%
M
20%
70%
EA
P
1,000
30%
4,000
As
ia
40%
4,500
80%
h
1,500
50%
90%
LA
C
2,000
60%
5,000
ut
70%
100%
A
2,500
80%
Cross-Border Borrowings, 2007
EC
3,000
90%
al
100%
ob
Source of MFI Debt, 2007
Gl
Figure 9
Financial Institution
Other
SOURCE: MIX 2007 MFI benchmarks. Data represent totals for each region.
DFI = Development Finance Institution; EAP = East Asia and the Pacific; ECA =
Eastern Europe and Central Asia; LAC = Latin America and the Caribbean;
MENA = Middle East and North Africa. Notable exclusions: BRI (Indonesia).
as shown in Figure 9, have provided most of this
debt (40 percent). Their terms, however, temper
refinancing concerns in the current crisis. Foreign
DFIs offered MFIs debt with nearly five year maturities,
compared with three and a half year terms for their
local counterparts. Local banks arranged debt to
MFIs in the region with average terms of just over
two years, but accounted for less than 20 percent of
total funding. While funding for growth may pose a
challenge in the region in the current crisis, especially
given the high growth rates in the 2005 – 2007
period, refinancing existing microcredit portfolios
may present less of a risk for portfolios in Eastern
Europe and Central Asia.
Other regions, on the other hand, faced less risk
of capital flight from foreign lenders. South Asian
MFIs and MFIs in the Middle East and North Africa
ended 2007 with large pools of debt raised from
financial institutions, totaling 70 percent and 62
percent of funding liabilities, respectively. In markets
like Bangladesh, Nepal and — in particular — fast
growing India, borrowings from local financial
institutions represented more than half (75 percent
for India) of funding liabilities. Morocco, Jordan and
Egypt, the fastest growth markets in MENA, also drew
half of their funding from local banks. This local bank
financing, however, comes with shorter maturities.
The average Indian bank terms totaled two years at
the end of 2007; in Morocco, just over two and a half
Foreign
Local
Amount (USD MM)
SOURCE: MIX 2007 MFI benchmarks. Data represent totals for each region.
EAP = East Asia and the Pacific; ECA = Eastern Europe and Central Asia; LAC =
Latin America and the Caribbean; MENA = Middle East and North Africa.
Notable exclusions: BRI (Indonesia).
years. As credit tightens, these shorter terms increase
pressure on MFIs to manage refinancing alongside
fundraising for growth.
In the long run, as MFIs seek to minimize risks from
foreign capital and assure stable sources of funding
for their growth, they may search for more funding
opportunities in their local markets. For many
institutions, deposit financing is not an option given
restrictions on raising public deposits, but local
financing from banks or debt issuances on local
markets remain options for most MFIs. As Figure
11 shows, MFIs operating in countries with more
developed financial markets draw more funding from
local sources. In other words, MFIs borrow abroad not
necessarily to seek better terms, but because they
have fewer options for refinancing at home. Access to
local market financing by MFIs seems tightly linked
to the development of local financial markets.
Microfinance has witnessed one of the strongest
sustained growth periods in the years leading up
to the crisis. As analysts seek to predict what will
come next, which MFIs may falter, how growth may
be impacted, if arrears will rise or how funding may
change, it is useful to look back at the baseline from
which the sector entered this crisis. Growth trends,
as highlighted above, may lead some markets to
overextend going into the downturn, and those
countries may well constitute “watch markets”.
Microfinance Information Exchange, Inc
25
BULLETIN HIGHLIGHTS
MICROBANKING BULLETIN, Issue 18, Spring 2009
But the global trends do not indicate sectorwide
overheating. Rather, the biggest shift over the period
that will catch analysts’ attention came in the change
in funding, as microfinance institutions continued
their shift towards commercially priced funding. The
growth of non deposit funding , in particular, helped
enable some of the fastest growth rates in Eastern
Europe and Central Asia, South Asia, and the Middle
Figure 11
East and North Africa. With this increased commercial
funding, funding costs have risen, eliminating many
of the efficiency gains that have boosted returns in
recent years. In the year ahead, analysts will not only
want to monitor how MFIs manage their refinancing
from a liquidity perspective, but also how it impacts
their bottom lines and perhaps, those of their clients.
Local Market Funding Increases with Financial Market Development, 2007
140%
120%
100%
80%
60%
40%
20%
0%
Financial Depth
Foreign Borrowings
SOURCE: MIX 2007 MFI benchmarks. Data represent results by country, including foreign borrowings as a percentage of total MFI borrowings for each country.
26
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MICROBANKING BULLETIN, Issue 18, SRING 2009
BULLETIN TABLES
BULLETIN TABLES
Introduction to the Peer Groups
and Tables
MICROBANKING BULLETIN, Issue 18, Sring 2009
Setting up Peer Groups
The Bulletin Tables are designed to present
performance benchmarks against which managers
and directors of microfinance institutions can compare
their institution’s performance with that of similar
institution. Since the microfinance industry consists
of a range of institutions and operating environments,
some with very different characteristics, an MFI should
be compared to similar institutions for the reference
points to be useful.
The Bulletin Tables address this issue with a peer
group framework. Peer groups are sets of programs
that have similar characteristics — similar enough
that their managers find utility in comparing their
results with those of other organizations in their peer
group. The Bulletin Tables present peer groups on two
bases: simple and compound peer groups.
Simple Peer Groups look at MFIs based on a
single characteristic. This allows users to analyze
performance based on a common factor, such as
age, location or scale of operations. MFIs have been
grouped according to the following ten characteristics
for this edition of the Bulletin:
4) Lending Methodology: Performance may vary by
the way the institution delivers its loan products
and serves borrowers. The Bulletin Tables present
MFIs based on the primary methodology used,
determined by the number and volume of loans
outstanding.
5) Outreach: Scale of outreach is measured as the
total number of borrowers served.
6) Profit Status: According to their registration, MFIs
are classified as ‘not for profit’ and ‘for profit’
institutions.
7) Region: MFIs are divided into five main geographic
regions: Africa, Asia, Eastern Europe and Central
Asia (ECA), Latin America and the Caribbean (LAC)
and Middle East and North Africa (MENA).
8) Scale: Institutional scale is measured by the size of
an institution’s loan portfolio in USD. The measure of
scale is regionalized to reflect differences in income
levels across regions.
9) Sustainability: MFIs are grouped according to their
level of financial self-sufficiency, representing
their ability to cover all costs on an adjusted basis.
1) Age: The Bulletin Tables classify MFIs into three
categories (new, young, and mature) based on the
maturity of their microfinance operations. This is
calculated as the difference between the year they
started their microfinance operations and the year
of data submitted by the institutions.
10)Target Market: The Bulletin Tables classify MFIs
into three categories — low-end, broad, and highend — according to the average balance of loans
served. For international comparison, this balance is
stated as a percentage of local income levels (GNI
per capita).
2) Charter Type: The charter under which the MFIs
are registered is used to classify the MFIs as banks,
credit unions/cooperatives, NGOs, and non bank
financial institutions.
Compound Peer Groups use a more complex set of
variables to analyze MFI performance. This creates
benchmarks where institutions have a greater number
of similar factors affecting performance.
3) Financial Intermediation: This classification
measures the extent to which an MFI
intermediates between savers and borrowers,
funding its assets through mobilized deposits. It is
calculated as a percentage of total assets funded
by voluntary savings.
The Bulletin Tables present compound peer groups
based on three factors: (1) Region; (2) Scale; (3)
Sustainability.
Microfinance Information Exchange, Inc
27
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, SRING 2009
Peer Group Composition
The quantitative criteria used to categorize these
groups are summarized in Table 1. The entire sample of
institutions that fall into these categories is located in
the guide to the peer groups (page 45). Confidentiality
limits the publication of names of financially selfsufficient MFIs included in the database.
More detailed information about each institution can
be found in Appendix II.
Table 1
Data Quality and Statistical
Issues
Since the Bulletin Tables rely primarily on selfreported data, we grade the quality of the
information based on the degree to which we have
independent verification of its reliability. The data
quality grade is not a rating of the institution’s
performance. Additionally, in the statistical tables
that follow, the median values are displayed for
each indicator. For more details on both Data
Quality and Statistical Issues, see Appendix I.
Peer Group Criteria
Group
Categories
Criteria
Age
New
Young
Mature
1 to 4 years
5 to 8 years
over 8 years
Charter Type
Bank
Credit Union
NBFI
NGO
Rural Bank
Financial Intermediation
Non FI
Low FI
High FI
Lending Methodology
Individual
Solidarity Group
Individual/Solidarity
Village Banking
Outreach
Large
Medium
Small
Number of Borrowers > 30,000
Number of Borrowers > 10,000 and < 30,000
Number of Borrowers < 10,000
Profit Status
For Profit
Not for Profit
Registered as a for profit institution
Registered in a non profit status
Region
Africa
Asia
ECA
LAC
MENA
Sub-Saharan Africa
South & East Asia
Eastern Europe & Central Asia
Latin America & the Caribbean
Middle East & North Africa
Scale
(Gross Loan Portfolio, in USD)
Large
Africa, Asia, ECA, MENA > 8 million
Latin America > 15 million
Africa, Asia, ECA, MENA 2 million to 8 million
Latin America 4 million to 15 million
Africa, Asia, ECA, MENA < 2 million
Latin America < 4 million
Medium
Small
No voluntary savings
Voluntary savings < 20% of total assets
Voluntary savings > 20% of total assets
Sustainability
Non FSS
FSS
Financial Self-Sufficiency < 100%
Financial Self-Sufficiency > 100%
Target Market
(Depth = Average Loan Balance
per Borrower/GNI per Capita)
Low end
Broad
High end
Small Business
Depth < 20% OR average loan size < USD150
Depth between 20% and 149%
Depth between 150% and 250%
Depth over 250%
Abbreviations: ECA = Eastern Europe and Central Asia; FI = Financial Intermediary; FSS = Financially Self-Sufficient; LAC = Latin America and the Caribbean;
MENA = Middle East and North Africa; NBFI = Non Bank Financial Institution; NGO = Non Governmental Organization
28
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, SRING 2009
Trend Lines 2005 – 2007 MFI Benchmarks (Median Values)
Number of MFIs
PEER GROUP
Units
Year
All MFIs
SIMPLE PEER GROUPS
Age
New
Young
Mature
Charter Type
Bank
Credit Union
NBFI
NGO
Rural Bank
Financial Intermediation
Non FI
Low FI
High FI
Methodology
Individual
Individual/ Solidarity
Solidarity
Village Banking
Outreach
Small (Outreach)
Medium (Outreach)
Large (Outreach)
Profit Status
Profit
Not for Profit
Region
Africa
Asia
ECA
LAC
MENA
Scale
Small (Scale)
Medium (Scale)
Large (Scale)
Sustainability
FSS
Non-FSS
Target Market
Low end
Broad
High end
Small Business
COMPOUND PEER GROUPS
Africa Small
Africa Medium
Africa Large
Africa FSS
Africa Non FSS
Asia Small
Asia Medium
Asia Large
Asia FSS
Asia Non FSS
ECA Small
ECA Medium
ECA Large
ECA FSS
ECA Non FSS
LAC Small
LAC Medium
LAC Large
LAC FSS
LAC Non FSS
MENA Small
MENA Medium
MENA Large
MENA FSS
MENA Non FSS
Age
INSTITUTIONAL CHARACTERISTICS
Total Assets
Offices
USD
Personnel
2005
487
2006
487
2007
487
2005
9
Number
2006
10
2007
11
2005
6,673,576
2006
9,059,366
2007
13,724,483
2005
10
Number
2006
13
2007
15
Number
2005
2006 2007
96
122
146
73
153
261
41
133
313
26
108
353
3
7
14
3
7
14
4
7
14
2,960,599
5,115,075
8,844,057
6,000,117
6,242,983
12,781,865
6,217,386
8,064,853
17,356,377
9
10
12
11
12
15
12
15
16
59
80
129
87
95
145
87
126
162
46
35
143
222
41
48
35
169
196
39
50
35
172
190
40
8
10
8
9
19
9
11
9
11
22
10 108,206,929
12
8,823,462
10 10,523,999
12
4,011,160
22
3,968,061
160,506,016 230,711,700
13,586,466 21,965,300
13,837,662 24,089,865
5,097,944
7,189,580
4,579,626
6,215,232
28
12
12
10
4
32
12
15
11
5
39
12
19
12
6
537
54
127
74
61
675
74
150
95
64
816
92
198
106
69
289
54
144
288
57
142
286
55
146
8
8
13
9
9
14
10
11
15
4,751,071
5,868,824
19,381,410
6,833,720
10,064,125
27,418,339
9,763,918
15,656,607
37,963,240
10
12
12
12
17
14
13
26
18
74
131
176
98
189
203
121
263
256
177
209
40
61
178
224
33
52
164
245
27
51
12
8
8
8
12
9
10
9
12
11
9
11
10,491,130
6,712,832
3,428,930
3,215,502
16,675,180
8,521,167
4,690,598
4,949,644
26,835,317
13,520,527
5,257,992
9,347,055
10
11
13
11
12
13
19
15
12
15
19
14
96
101
102
82
121
120
129
126
142
148
132
154
221
139
127
199
128
160
164
138
185
8
8
12
9
9
12
11
10
12
2,384,904
8,004,033
35,695,154
3,036,907
8,924,746
39,840,026
3,783,284
13,129,309
50,171,445
5
13
37
5
15
43
5
14
45
34
125
433
38
130
483
37
145
569
173
314
170
317
180
307
9
9
9
10
10
11
10,660,800
4,866,373
19,626,017
6,385,587
33,692,942
9,201,079
11
10
17
11
22
12
174
75
224
90
319
103
69
117
98
179
24
69
117
98
179
24
69
117
98
179
24
8
10
7
12
8
9
11
8
13
9
10
12
9
14
10
5,456,709
5,327,431
7,082,080
8,148,470
6,838,516
7,598,013
8,349,392
10,389,665
10,205,479
9,277,700
11,057,916
11,758,189
20,592,720
15,317,249
12,438,017
12
13
10
9
12
14
17
12
10
16
16
27
13
12
15
106
132
57
90
80
126
187
84
105
100
152
223
119
135
139
170
153
164
123
163
201
97
137
253
8
9
11
9
9
11
11
10
12
1,621,165
6,806,401
38,025,115
1,627,410
6,765,319
40,033,227
1,768,682
6,950,482
43,774,012
5
11
30
4
11
30
5
10
32
32
101
332
31
102
400
36
92
397
313
174
334
153
343
144
9
9
10
10
11
11
8,475,547
4,087,695
13,712,064
4,528,868
17,659,400
7,097,570
13
9
15
9
16
13
105
84
151
84
169
122
190
250
25
22
173
261
32
21
162
267
34
24
9
9
6
8
10
10
9
10
11
11
11
13
3,437,638
8,232,339
10,866,512
27,254,273
4,966,655
10,872,897
31,907,336
28,972,356
6,658,115
15,996,862
41,457,691
46,594,607
10
10
14
13
14
12
22
10
15
14
27
20
93
86
193
176
122
105
264
206
141
134
294
491
27
21
21
26
43
39
45
33
71
46
24
37
37
71
27
74
39
66
129
50
6
11
7
16
8
22
19
28
31
38
29
43
45
80
37
17
32
49
71
27
51
58
70
138
41
4
11
9
14
10
17
18
34
34
35
25
29
63
78
39
9
30
59
69
29
44
50
85
146
33
n/a
10
12
16
8
6
8
15
9
8
10
11
12
12
9
6
6
7
7
5
10
14
14
12
14
6
8
9
8
7
8
8
12
10
9
14
11
11
13
11
6
7
8
8
7
12
13
15
13
14
6
9
10
9
9
9
8
14
10
10
15
15
12
13
12
8
8
9
9
8
13
11
16
14
14
n/a
10
11
10
9
1,583,157
7,794,996
44,562,141
10,927,994
3,591,152
1,397,426
6,327,193
20,624,642
6,841,915
3,977,812
1,100,710
4,624,544
38,211,810
8,096,051
3,789,395
2,058,427
8,592,539
43,444,743
10,660,800
4,323,409
1,422,408
6,673,576
35,256,474
6,665,416
9,875,945
1,645,682
6,339,930
38,373,386
19,035,856
4,231,607
1,306,020
6,461,895
28,149,712
9,375,210
4,681,495
1,497,105
4,463,691
35,400,027
17,164,649
4,831,168
1,771,090
8,534,434
57,630,969
17,086,101
2,186,369
1,541,710
8,530,411
30,437,292
9,277,700
9,360,284
1,657,795
5,177,265
37,180,233
23,513,289
7,560,119
1,768,682
6,223,474
30,460,151
13,534,223
10,115,409
1,746,702
4,692,021
45,484,820
34,760,975
6,325,328
1,962,560
9,395,472
59,069,316
20,129,736
6,397,470
n/a
6,988,778
24,800,446
12,519,789
12,030,530
8
15
32
22
10
5
11
73
19
10
3
9
22
11
9
4
11
20
10
6
12
10
54
12
12
7
14
32
19
11
4
14
77
21
15
3
9
25
13
12
4
9
22
14
5
12
11
72
33
11
8
13
34
13
16
3
12
75
30
21
4
7
27
16
12
4
10
26
12
8
n/a
15
30
16
14
59
150
306
217
94
50
150
844
150
112
23
49
199
73
49
30
101
284
117
70
39
79
433
80
146
52
118
330
297
117
38
169
956
205
164
29
35
212
102
46
27
97
351
139
31
49
75
401
109
92
55
130
451
217
140
42
134
710
253
167
32
36
269
138
56
31
106
348
146
59
n/a
84
511
139
168
For definitions of Peer Group criteria, refer to pages 27 to 28; For details on indicator defintions, refer to pages 43-44.
All values, except “number of MFIs”, are medians. Statistics are not published for peer groups containing fewer than three observations. These results are marked with “n/a”.
Microfinance Information Exchange, Inc
29
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, SRING 2009
Trend Lines 2005 – 2007 MFI Benchmarks (Median Values)
Capital/Asset Ratio
PEER GROUP
Units
Year
All MFIs
SIMPLE PEER GROUPS
Age
New
Young
Mature
Charter Type
Bank
Credit Union
NBFI
NGO
Rural Bank
Financial Intermediation
Non FI
Low FI
High FI
Methodology
Individual
Individual/ Solidarity
Solidarity
Village Banking
Outreach
Small (Outreach)
Medium (Outreach)
Large (Outreach)
Profit Status
Profit
Not for Profit
Region
Africa
Asia
ECA
LAC
MENA
Scale
Small (Scale)
Medium (Scale)
Large (Scale)
Sustainability
FSS
Non-FSS
Target Market:
Low end
Broad
High end
Small Business
COMPOUND PEER GROUPS
Africa Small
Africa Medium
Africa Large
Africa FSS
Africa Non FSS
Asia Small
Asia Medium
Asia Large
Asia FSS
Asia Non FSS
ECA Small
ECA Medium
ECA Large
ECA FSS
ECA Non FSS
LAC Small
LAC Medium
LAC Large
LAC FSS
LAC Non FSS
MENA Small
MENA Medium
MENA Large
MENA FSS
MENA Non FSS
FINANCING STRUCTURE
Commercial Funding
Debt to Equity
Liabilities Ratio
%
x
2005
2006 2007
2005
2006 2007
61.2
67.6 76.4
2.4
2.8
3.4
2005
28.0
%
2006
25.0
2007
21.8
27.3
35.2
23.5
27.1
34.4
23.9
24.2
26.5
20.8
39.0
41.6
73.2
51.4
53.6
74.9
77.9
70.4
78.6
2.4
1.6
3.1
2.5
1.9
3.0
13.8
16.4
27.3
40.0
15.5
12.3
16.2
26.9
37.5
15.6
11.1
15.5
22.0
34.0
13.9
96.8
100.2
51.1
39.6
106.9
102.8
99.0
59.7
50.9
122.4
102.2
98.1
73.0
59.4
125.0
6.2
4.7
2.6
1.5
5.5
38.5
41.5
14.0
36.0
32.9
13.9
30.5
26.9
13.6
35.4
41.7
103.7
50.0
46.9
106.8
62.3
50.2
110.1
21.0
34.2
25.1
34.5
19.2
31.3
28.2
31.6
17.7
26.9
21.7
31.9
85.9
51.2
24.8
35.4
91.5
56.8
47.4
48.4
37.1
28.0
17.2
33.4
26.8
17.0
29.8
23.8
15.7
52.2
63.3
74.5
17.3
36.7
16.6
33.2
15.9
29.2
27.3
17.6
35.5
29.4
64.3
24.9
16.6
31.7
25.1
52.3
40.3
29.2
17.6
Deposits to Loans
Deposits to Total
Assets
%
2005 2006 2007
0.0
0.0
0.0
Portfolio to Assets
2005
0.0
%
2006
0.0
2007
0.0
2.8
2.7
3.7
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
69.3
81.0
76.7
72.0
82.4
77.9
66.6
79.2
79.6
7.1
4.4
2.7
1.5
5.4
7.8
5.4
3.5
1.8
6.2
56.0
76.9
0.0
0.0
103.5
61.3
79.8
0.0
0.0
108.1
54.7
77.9
0.0
0.0
116.3
42.1
62.4
0.0
0.0
69.2
40.4
62.7
0.0
0.0
69.0
38.4
63.7
0.0
0.0
71.0
67.8
77.9
78.5
80.6
66.6
70.4
80.9
79.5
81.3
64.1
72.9
79.1
82.1
81.6
60.9
1.6
1.4
6.0
1.6
2.0
6.1
2.2
2.6
6.2
0.0
4.5
84.2
0.0
6.5
83.8
0.0
8.3
89.5
0.0
3.0
61.7
0.0
4.6
62.8
0.0
6.1
62.8
81.2
73.7
71.8
82.8
76.2
72.0
83.5
78.1
70.3
90.4
69.6
66.7
62.0
3.8
1.8
1.9
1.8
4.2
2.0
2.3
1.9
4.6
2.7
2.9
2.1
34.9
0.0
0.0
0.0
40.5
0.0
0.0
0.0
40.1
0.0
0.0
0.0
27.1
0.0
0.0
0.0
30.5
0.0
0.0
0.0
29.0
0.0
0.0
0.0
77.9
77.8
71.8
80.7
77.4
79.8
75.0
81.5
79.6
78.8
80.4
79.5
60.5
57.3
82.0
67.7
68.4
83.7
1.7
2.4
4.8
1.8
2.5
4.8
2.3
2.8
5.3
0.0
0.0
0.8
0.0
0.0
1.4
0.0
0.0
0.1
0.0
0.0
0.5
0.0
0.0
1.1
0.0
0.0
0.1
77.8
78.3
76.0
79.2
78.4
78.3
78.5
79.6
79.3
93.5
47.4
96.9
56.5
93.1
66.3
4.8
1.7
5.0
1.9
5.3
2.3
43.1
0.0
31.7
0.0
32.4
0.0
28.8
0.0
22.8
0.0
22.6
0.0
71.2
80.7
72.1
81.2
74.8
81.3
23.0
16.0
23.6
22.9
48.6
67.3
65.6
32.9
68.7
24.2
66.4
78.2
51.8
73.4
40.2
62.3
90.3
70.9
78.6
60.7
2.6
4.3
1.8
2.4
0.6
2.7
4.6
2.2
2.8
0.8
2.7
5.0
3.2
3.3
1.0
15.3
0.8
0.0
0.0
0.0
18.5
0.9
0.0
0.0
0.0
22.7
1.4
0.0
0.0
0.0
9.8
0.6
0.0
0.0
0.0
12.7
0.7
0.0
0.0
0.0
15.8
1.1
0.0
0.0
0.0
65.3
71.2
83.0
80.6
75.6
66.9
74.1
84.5
80.7
82.1
66.0
70.8
86.0
82.6
78.1
39.4
32.8
17.9
34.4
30.3
17.3
44.3
62.6
81.0
46.9
56.9
84.6
55.8
63.4
84.3
1.4
2.4
4.6
1.4
2.0
4.4
1.6
2.3
4.7
0.0
0.0
19.4
0.0
0.0
7.5
0.0
0.0
1.4
0.0
0.0
16.5
0.0
0.0
5.6
0.0
0.0
1.1
76.1
77.2
80.2
75.4
80.9
78.4
70.1
81.4
79.9
25.0
33.7
24.1
31.4
20.3
27.4
64.1
52.2
71.0
56.7
79.8
59.2
3.0
1.5
3.1
1.7
3.9
2.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
80.5
69.1
80.7
72.1
81.3
71.6
34.1
24.8
13.6
26.3
31.4
24.2
22.2
13.8
30.2
20.9
17.3
14.6
45.0
72.8
89.6
101.9
53.8
74.8
77.0
108.5
62.0
81.1
98.2
112.5
1.7
2.8
6.3
2.8
1.9
3.1
3.5
6.2
2.2
3.7
4.8
5.9
0.0
0.0
47.2
46.6
0.0
0.0
15.2
82.0
0.0
0.0
39.6
65.0
0.0
0.0
30.1
35.7
0.0
0.0
11.1
49.1
0.0
0.0
33.4
47.3
74.6
80.1
76.1
70.8
78.3
80.0
77.1
68.8
79.9
80.1
74.6
65.0
41.5
27.2
23.3
21.5
31.0
23.3
14.3
13.7
15.6
19.4
64.6
54.5
23.5
32.3
54.5
44.1
30.7
16.3
24.9
40.1
40.6
69.4
60.1
56.6
73.1
36.6
30.3
19.5
21.2
31.8
27.2
12.5
11.7
18.1
11.4
56.7
47.3
25.0
30.2
40.2
47.5
36.4
16.2
24.1
41.8
30.2
69.3
51.2
50.0
73.7
45.2
30.0
21.0
22.7
28.5
24.2
11.7
15.7
15.9
16.9
67.6
42.5
20.1
20.2
34.1
42.6
31.8
15.9
22.7
30.7
n/a
50.5
44.9
43.2
56.5
43.2
62.4
100.9
83.9
62.4
63.8
90.3
40.8
72.7
56.4
0.0
21.1
64.1
34.5
18.4
51.0
68.7
94.0
77.4
60.3
19.6
24.0
54.8
24.2
27.5
25.1
40.9
99.6
97.7
44.4
68.2
94.5
77.1
73.6
83.2
24.1
45.5
70.9
56.3
48.6
50.6
64.4
93.5
75.1
57.7
32.4
18.7
51.0
45.9
0.0
62.3
31.6
73.8
72.9
39.0
90.9
103.3
82.2
91.6
83.4
38.9
48.6
79.8
78.3
59.1
53.4
66.4
90.2
79.9
59.2
n/a
37.3
68.5
60.7
55.9
1.4
2.2
3.3
3.7
1.6
3.0
6.0
6.3
5.4
3.9
0.5
0.8
3.3
2.1
0.8
1.2
2.3
5.1
3.0
1.4
1.5
0.4
0.7
0.8
0.4
1.0
2.1
4.1
3.7
1.5
2.5
5.3
5.4
4.5
5.3
0.8
1.1
3.0
2.3
1.5
1.0
1.8
5.2
3.2
1.3
1.1
0.4
1.0
1.0
0.2
1.2
2.3
3.6
3.4
1.9
3.0
7.6
5.4
5.2
4.7
0.5
1.4
4.0
3.9
1.9
1.2
2.1
5.2
3.4
2.0
n/a
1.0
1.3
1.3
0.5
4.8
4.6
64.2
63.3
4.9
1.5
2.1
0.0
0.8
1.4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
57.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.8
4.3
63.4
49.9
3.9
27.6
1.3
0.0
1.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
57.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
3.5
2.3
63.6
39.5
4.5
90.9
4.8
0.1
1.1
1.9
0.0
0.0
0.0
0.0
0.0
0.0
0.0
41.4
0.0
0.0
n/a
0.0
0.0
0.0
0.0
3.5
3.8
47.3
38.1
3.6
1.1
1.8
0.0
0.6
0.6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
43.4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.6
3.4
44.0
38.5
3.3
16.9
0.7
0.0
0.8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
41.5
0.0
0.0
0.0
0.0
0.0
0.0
0.0
2.8
1.8
42.8
26.1
3.5
28.2
2.9
0.1
0.9
1.4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
36.6
0.0
0.0
n/a
0.0
0.0
0.0
0.0
61.7
65.9
65.7
62.7
66.2
67.4
68.3
82.0
76.0
65.8
83.5
86.6
80.0
83.6
80.6
81.0
80.0
80.5
81.8
76.3
68.7
76.1
83.7
82.0
49.8
65.1
71.4
65.6
66.4
68.4
70.9
71.3
80.2
78.3
68.5
84.5
85.8
80.3
87.2
80.9
81.3
83.7
79.8
81.4
78.2
82.3
62.2
87.9
88.6
53.7
57.3
67.8
66.9
61.5
66.4
60.1
70.6
79.3
76.4
63.6
72.3
88.9
85.0
88.1
78.8
81.2
83.5
81.5
82.9
80.9
n/a
75.0
85.3
82.6
48.0
2005
77.8
%
2006 2007
78.4 79.2
For definitions of Peer Group criteria, refer to pages 27 to 28; For details on indicator defintions, refer to pages 43-44.
All values, except “number of MFIs”, are medians. Statistics are not published for peer groups containing fewer than three observations. These results are marked with “n/a”.
30
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, SRING 2009
Trend Lines 2005 – 2007 MFI Benchmarks (Median Values)
PEER GROUP
Units
Year
Number of Active
Borrowers
Number
2005
2006
2007
11,499 15,561 19,420
All MFIs
SIMPLE PEER GROUPS
Age
New
5,917
Young
9,969
Mature
14,919
Charter Type
Bank
41,592
Credit Union
6,330
NBFI
12,945
NGO
10,218
Rural Bank
4,620
Financial Intermediation
Non FI
9,811
Low FI
14,345
High FI
17,072
Methodology
Individual
7,834
Individual/ Solidarity
11,451
Solidarity
14,749
Village Banking
14,919
Outreach
Small (Outreach)
3,285
Medium (Outreach)
15,587
Large (Outreach)
67,757
Profit Status
Profit
14,512
Not for Profit
10,211
Region
Africa
13,728
Asia
17,433
ECA
4,298
LAC
10,693
MENA
12,916
Scale
Small (Scale)
3,383
Medium (Scale)
10,171
Large (Scale)
44,051
Sustainability
FSS
12,915
Non-FSS
9,474
Target Market
Low end
14,074
Broad
10,143
High end
9,034
Small Business
5,738
COMPOUND PEER GROUPS
Africa Small
5,948
Africa Medium
20,002
Africa Large
57,742
Africa FSS
29,553
Africa Non FSS
12,151
Asia Small
4,412
Asia Medium
23,634
Asia Large
149,886
Asia FSS
34,910
Asia Non FSS
15,390
ECA Small
1,924
ECA Medium
3,235
ECA Large
16,122
ECA FSS
5,749
ECA Non FSS
2,378
LAC Small
3,593
LAC Medium
9,485
LAC Large
42,511
LAC FSS
13,681
LAC Non FSS
5,745
MENA Small
7,076
MENA Medium
10,655
MENA Large
56,370
MENA FSS
11,982
MENA Non FSS
13,675
OUTREACH INDICATORS
Percent of Women
Number of Loans Outstanding
Borrowers
%
Number
2005
2006
2007
2005
2006
2007
62.6
64.4
63.4
11,695
16,149
19,258
Gross Loan Portfolio
2005
4,751,118
USD
2006
6,980,022
2007
10,650,967
7,845
10,736
19,473
11,297
12,927
22,483
71.8
55.3
67.1
53.9
61.9
66.5
55.6
59.6
64.3
5,917
10,385
15,044
7,845
10,823
19,621
11,297
13,934
22,858
2,328,324
4,055,951
6,273,406
3,595,228
5,229,552
9,034,823
4,157,786
6,693,512
13,959,566
54,110
7,031
17,250
12,307
4,405
63,027
6,560
23,355
15,663
4,351
47.6
44.8
54.5
78.1
46.9
50.2
51.3
53.5
80.6
68.5
48.5
45.7
53.9
75.5
70.6
43,239
5,805
14,345
10,301
4,659
54,110
7,031
17,874
13,121
4,544
63,027
7,056
24,780
16,084
5,184
75,020,364
6,874,151
7,389,586
2,965,004
2,304,086
102,502,629
10,391,615
10,159,007
4,070,288
2,395,499
164,079,064
16,118,010
19,594,979
5,959,063
3,111,098
11,448
23,673
21,229
13,928
39,102
25,034
70.1
76.1
50.5
70.2
77.9
51.3
69.3
75.7
49.4
10,092
18,090
17,213
11,916
24,451
21,689
14,482
45,919
26,738
3,704,855
3,648,774
14,228,166
5,275,997
6,980,022
19,363,986
7,683,034
12,983,638
24,363,031
10,753
13,824
25,478
21,822
13,847
18,315
24,120
28,802
51.5
65.0
100.0
95.0
51.3
67.4
99.3
96.4
49.7
66.4
99.3
94.0
8,090
11,451
15,194
14,919
11,316
14,535
25,478
26,197
14,540
18,252
24,805
28,802
7,697,465
4,320,701
2,698,421
2,444,107
12,519,878
6,323,219
3,329,905
3,955,615
20,179,194
10,650,967
3,981,121
5,924,428
3,751
17,653
66,560
3,346
17,659
73,748
54.1
70.4
75.3
54.7
73.7
69.6
54.0
63.7
71.4
3,303
15,735
70,673
3,887
18,217
74,018
3,521
17,898
80,247
2,006,375
5,951,331
28,298,140
2,254,234
7,021,540
30,351,524
2,657,132
10,282,896
42,372,054
24,062
10,957
35,132
13,128
52.7
70.0
55.2
69.1
55.5
66.4
14,934
10,335
26,604
10,957
35,132
13,375
6,787,896
3,847,269
13,182,288
5,339,874
22,610,796
7,327,011
19,454
30,346
6,490
13,631
18,096
23,787
41,483
10,341
16,497
26,093
60.0
99.4
46.8
60.0
71.8
64.0
99.0
46.5
61.8
69.5
62.9
99.4
45.1
61.4
67.9
14,345
17,433
4,451
10,842
12,916
19,699
30,346
6,570
13,739
18,096
23,999
42,170
10,341
16,988
26,093
3,416,043
3,679,635
5,031,992
6,141,838
5,408,416
6,123,648
5,739,863
8,661,830
9,034,823
6,654,150
6,687,893
9,145,000
15,500,352
12,308,503
8,931,568
3,188
12,055
48,115
3,151
10,776
47,598
71.1
62.2
54.3
72.0
67.2
54.6
73.9
64.4
56.6
3,370
10,360
48,749
3,231
12,060
49,474
3,164
11,056
53,174
1,079,559
4,896,919
28,108,862
1,112,523
5,269,803
30,012,564
1,266,844
5,410,854
33,714,379
19,345
9,182
22,775
13,375
62.0
66.4
61.8
71.4
62.8
65.7
13,681
9,044
19,345
9,298
23,432
13,375
6,199,168
2,804,594
10,317,804
3,595,228
14,013,068
5,120,001
21,871
11,842
20,318
6,766
25,091
14,667
23,934
18,711
90.4
53.4
48.8
35.9
90.5
53.6
48.8
30.9
88.1
53.9
45.3
42.7
14,293
10,267
10,790
5,643
22,100
12,068
20,318
6,909
25,906
15,015
24,946
18,787
2,714,319
6,166,531
8,113,652
18,080,836
4,060,286
7,789,971
27,037,871
17,410,304
5,164,316
11,815,480
34,664,907
27,777,043
6,185
7,297
19,285 20,321
47,286 47,816
30,235 25,507
16,994 23,323
3,158
2,714
25,478 22,065
159,673 134,765
40,443 50,801
23,410 22,559
1,818
2,253
3,762
2,527
19,621 20,866
8,331 12,177
3,405
2,788
3,257
3,182
11,343 12,806
41,744 44,272
16,881 19,158
4,772
7,064
7,224
n/a
12,351 11,051
68,911 74,838
20,982 31,286
11,644 11,451
71.2
73.1
37.7
54.3
61.4
99.7
99.5
98.0
99.7
98.8
53.6
45.1
38.5
51.4
42.0
70.5
56.2
53.5
58.8
66.9
83.1
77.0
61.9
71.8
73.5
73.5
65.5
49.6
52.0
67.3
99.0
99.3
98.2
99.0
99.0
53.7
44.9
40.7
46.5
48.2
71.5
63.2
53.3
57.6
72.6
78.0
66.8
69.6
67.4
76.5
72.6
66.4
52.6
59.7
64.5
99.8
100.0
97.5
99.8
96.9
60.8
45.8
42.5
45.1
45.2
72.7
64.2
54.0
57.6
67.6
n/a
63.6
68.8
67.0
77.3
6,059
20,818
57,742
34,472
12,451
4,412
25,347
149,886
37,809
15,109
1,924
3,235
18,138
6,068
2,378
3,634
10,254
49,509
14,129
5,896
7,076
10,669
56,370
11,982
13,675
6,185
19,370
50,817
30,235
17,413
3,685
26,197
181,225
43,609
23,410
1,818
3,762
20,896
8,331
3,493
3,257
11,521
51,380
18,092
4,772
7,224
12,351
68,911
23,233
11,644
7,297
20,321
55,055
25,507
23,323
2,714
22,232
135,091
47,717
24,449
2,253
2,815
20,866
12,177
2,842
3,194
12,806
49,706
19,347
7,064
n/a
11,051
75,232
33,060
11,451
695,472
4,750,398
33,714,347
6,669,404
2,271,283
850,665
3,977,398
16,136,573
4,704,797
2,594,772
949,517
3,720,369
30,256,708
6,488,487
3,595,486
1,684,745
6,653,227
36,014,065
8,515,224
3,521,912
1,167,553
5,230,191
12,509,412
5,666,685
3,729,135
866,352
3,850,943
26,096,631
13,160,493
2,580,824
844,291
5,229,552
20,737,172
6,849,516
3,255,907
1,366,825
3,966,190
27,489,898
10,946,860
3,968,891
1,422,270
6,460,479
44,986,567
14,285,214
1,712,280
1,344,751
4,579,609
15,272,878
8,477,251
4,941,644
1,000,413
3,249,075
24,132,550
15,502,370
5,018,370
1,043,069
4,268,954
21,395,149
9,932,852
6,958,099
1,309,949
4,165,221
37,518,844
23,404,819
5,701,737
1,596,286
7,721,410
46,112,220
16,655,054
5,088,935
n/a
4,679,992
18,420,122
11,261,466
5,317,498
For definitions of Peer Group criteria, refer to pages 27 to 28; For details on indicator defintions, refer to pages 43-44.
All values, except “number of MFIs”, are medians. Statistics are not published for peer groups containing fewer than three observations. These results are marked with “n/a”.
Microfinance Information Exchange, Inc
31
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, SRING 2009
Trend Lines 2005 – 2007 MFI Benchmarks (Median Values)
PEER GROUP
Units
Year
All MFIs
SIMPLE PEER GROUPS
Age
New
Young
Mature
Charter Type
Bank
Credit Union
NBFI
NGO
Rural Bank
Financial Intermediation
Non FI
Low FI
High FI
Methodology
Individual
Individual/ Solidarity
Solidarity
Village Banking
Outreach
Small (Outreach)
Medium (Outreach)
Large (Outreach)
Profit Status
Profit
Not for Profit
Region:
Africa
Asia
ECA
LAC
MENA
Scale
Small (Scale)
Medium (Scale)
Large (Scale)
Sustainability
FSS
Non-FSS
Target Market
Low end
Broad
High end
Small Business
COMPOUND PEER GROUPS
Africa Small
Africa Medium
Africa Large
Africa FSS
Africa Non FSS
Asia Small
Asia Medium
Asia Large
Asia FSS
Asia Non FSS
ECA Small
ECA Medium
ECA Large
ECA FSS
ECA Non FSS
LAC Small
LAC Medium
LAC Large
LAC FSS
LAC Non FSS
MENA Small
MENA Medium
MENA Large
MENA FSS
MENA Non FSS
OUTREACH INDICATORS
Average Loan Balance
Average Loan Balance per
Average Outstanding
per Borrower
Borrower/GNI per Capita
Balance
USD
%
USD
2005
2006
2007
2005
2006
2007
2005
2006
2007
482
531
653
37.2
41.4
40.6
474
515
643
Average Outstanding
Balance/GNI per Capita
%
2005
2006
2007
34.7
38.7
38.6
Number of Voluntary
Depositors
Number
2005
2006
2007
156
0
0
257
556
493
321
552
550
315
624
685
31.6
40.5
36.8
48.6
40.8
40.3
47.6
44.3
39.0
239
569
482
321
554
523
315
608
671
31.6
41.4
33.6
48.6
40.2
37.9
47.6
43.5
35.8
0
0
5,590
0
0
758
0
0
0
1,312
1,236
652
247
439
1,479
1,545
667
263
469
2,037
1,949
761
325
585
110.2
54.8
48.6
19.2
39.1
107.1
66.4
50.3
17.3
46.6
118.1
67.0
52.2
19.0
51.5
1,322
1,172
666
256
437
1,313
1,414
628
262
464
1,738
1,661
742
321
585
106.2
52.7
42.5
19.1
38.2
94.7
64.6
47.9
17.1
41.1
114.7
63.5
46.4
18.6
49.3
47,733
14,323
0
0
13,173
82,868
15,136
0
0
14,316
97,873
17,472
0
0
12,263
376
135
988
435
156
1,218
530
182
1,461
23.5
39.1
58.7
25.9
48.3
65.3
25.5
48.5
67.0
376
135
948
434
155
1,129
527
179
1,333
23.7
40.1
54.8
25.1
47.7
63.9
24.9
48.5
61.4
0
5,204
23,044
0
9,225
25,793
0
10,876
35,339
986
364
109
152
1,209
431
122
149
1,512
527
138
190
51.4
36.8
15.0
15.2
55.6
41.1
15.8
15.2
62.7
38.4
15.4
16.3
925
364
105
152
1,129
425
122
139
1,376
508
132
188
49.0
34.1
14.7
15.2
52.9
40.6
15.8
13.7
54.9
37.6
14.4
16.1
7,277
0
0
0
8,149
0
0
0
4,084
0
0
0
611
372
241
760
455
341
884
605
429
39.9
38.8
22.5
45.6
41.8
30.3
40.9
47.5
32.9
588
374
243
728
446
307
855
582
419
38.5
35.8
22.4
43.9
38.8
29.1
39.6
45.5
30.4
0
0
18,535
0
0
9,432
0
0
706
604
420
614
492
768
607
52.4
25.4
58.8
31.2
57.0
32.5
588
422
567
492
724
591
51.0
25.3
56.2
29.2
51.5
32.4
11,705
0
14,086
0
11,527
0
182
120
1,103
678
247
235
145
1,526
745
279
339
175
2,030
879
360
59.3
17.9
61.5
33.6
13.7
66.2
18.5
67.9
37.3
15.1
71.0
19.1
72.8
34.6
14.1
174
120
1,127
642
241
241
139
1,404
684
264
325
164
1,931
848
345
59.2
17.0
60.8
32.3
13.7
67.8
17.9
67.9
35.4
14.7
69.4
18.4
70.8
33.5
13.6
8,538
1,053
0
7,990
0
11,690
431
0
3,724
0
14,249
637
0
0
0
244
513
915
309
463
980
308
586
970
21.7
39.6
51.8
22.0
39.5
54.8
20.5
34.5
57.6
244
504
843
309
455
917
305
580
936
21.7
36.8
48.4
22.0
38.2
49.5
20.5
33.9
54.3
0
0
23,844
0
0
11,257
0
0
1,690
584
290
622
307
740
415
37.5
34.5
45.7
31.8
43.9
35.7
581
300
606
308
716
387
34.6
35.1
41.9
29.2
41.3
34.4
350
0
0
0
0
0
133
720
1,798
3,197
145
821
1,827
2,619
164
937
2,109
2,223
13.8
49.5
185.6
329.8
14.1
52.4
184.0
356.1
13.2
53.7
187.0
347.2
132
711
1,815
3,125
139
784
1,782
2,559
161
883
2,058
2,207
13.6
46.6
181.9
329.3
13.0
49.5
171.8
313.1
12.6
48.8
185.0
312.6
0
4,724
7,416
15,201
0
322
5,887
15,136
0
0
11,401
43,275
113
181
542
249
169
131
152
100
112
150
584
1,056
1,819
1,059
1,312
352
686
1,261
776
502
112
491
252
271
137
146
164
522
363
183
276
151
121
142
149
833
1,082
2,215
1,270
1,834
364
628
1,385
901
391
155
619
350
323
227
132
185
686
410
242
325
199
156
165
186
723
1,485
2,433
1,972
2,389
354
658
1,488
947
574
n/a
300
437
437
239
45.2
59.3
130.0
70.3
54.8
14.4
24.7
16.0
16.1
20.7
46.4
44.7
102.8
54.4
73.9
16.0
41.0
51.2
37.5
21.5
10.8
14.2
19.0
13.4
14.6
45.8
65.1
128.8
80.5
58.6
22.6
19.7
17.0
17.6
18.6
49.4
46.4
99.1
73.8
54.3
15.2
36.0
54.2
44.5
16.3
15.1
13.4
16.2
15.2
14.8
33.8
66.3
121.5
95.4
67.3
30.5
19.2
18.3
18.2
19.8
37.5
53.8
89.9
72.2
73.4
14.9
26.5
56.9
44.3
21.6
n/a
12.5
19.3
14.4
12.8
115
173
735
187
165
131
136
95
107
142
584
1,056
1,900
1,053
1,312
352
686
1,095
734
471
112
490
252
256
137
146
163
518
363
183
276
139
106
133
149
754
1,068
2,215
1,270
1,414
364
618
1,226
822
391
155
619
314
290
227
132
185
500
410
242
244
199
151
162
186
723
1,485
2,389
1,912
2,389
354
658
1,302
885
574
n/a
300
401
401
239
45.5
56.0
138.7
73.4
52.9
14.7
25.4
15.2
15.7
21.4
46.4
42.3
106.3
56.7
73.7
15.8
37.2
45.8
33.9
21.5
10.8
14.2
19.0
13.3
14.6
44.7
68.5
113.7
80.5
59.2
22.6
19.7
15.9
17.0
18.6
46.3
46.4
97.7
73.8
53.6
14.9
35.2
48.2
40.5
15.5
15.1
13.4
16.1
14.1
14.8
33.8
66.3
104.0
95.4
64.6
30.5
19.1
17.4
17.8
19.8
37.5
44.7
87.2
71.7
69.9
13.7
26.4
49.6
39.6
21.6
n/a
12.5
19.3
14.1
12.8
2,969
1,582
167,990
20,433
2,613
1,053
4,869
0
1,130
574
0
0
5,166
0
0
0
0
31,942
10,680
0
0
0
0
0
0
620
3,834
64,347
34,000
1,239
2,287
946
0
1,354
0
0
0
0
0
0
0
0
26,071
9,168
0
0
0
0
0
0
2,290
2,653
56,270
31,321
2,326
3,015
6,865
171
333
4,224
0
0
0
0
0
0
0
22,344
0
0
n/a
0
0
0
0
For definitions of Peer Group criteria, refer to pages 27 to 28; For details on indicator defintions, refer to pages 43-44.
All values, except “number of MFIs”, are medians. Statistics are not published for peer groups containing fewer than three observations. These results are marked with “n/a”.
32
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, SRING 2009
Trend Lines 2005 – 2007 MFI Benchmarks (Median Values)
PEER GROUP
Units
Year
All MFIs
SIMPLE PEER GROUPS
Age
New
Young
Mature
Charter Type:
Bank
Credit Union
NBFI
NGO
Rural Bank
Financial Intermediation
Non FI
Low FI
High FI
Methodology
Individual
Individual/ Solidarity
Solidarity
Village Banking
Outreach
Small (Outreach)
Medium (Outreach)
Large (Outreach)
Profit Status
Profit
Not for Profit
Region
Africa
Asia
ECA
LAC
MENA
Scale
Small (Scale)
Medium (Scale)
Large (Scale)
Sustainability
FSS
Non-FSS
Target Market
Low end
Broad
High end
Small Business
COMPOUND PEER GROUPS
Africa Small
Africa Medium
Africa Large
Africa FSS
Africa Non FSS
Asia Small
Asia Medium
Asia Large
Asia FSS
Asia Non FSS
ECA Small
ECA Medium
ECA Large
ECA FSS
ECA Non FSS
LAC Small
LAC Medium
LAC Large
LAC FSS
LAC Non FSS
MENA Small
MENA Medium
MENA Large
MENA FSS
MENA Non FSS
Number of Voluntary
Deposit Accounts
Number
2005
2006
2007
102
0
0
OUTREACH INDICATORS
Voluntary Deposits
Average Deposit Balance
per Depositor
USD
2005
2006
2007
306
348
431
Average Deposit Balance per
Depositor/GNI per capita
USD
2005
2006
2007
26.6
29.2
28.3
2005
0
USD
2006
0
2007
0
0
0
0
0
0
0
0
0
0
539
245
306
344
440
318
149
759
398
34.9
21.8
24.9
37.2
27.8
27.3
25.7
36.7
27.1
0
0
5,586
0
0
433
0
0
0
47,733
14,441
0
0
13,646
81,430
16,228
0
0
14,766
97,873
17,859
0
0
13,285
46,819,503 59,884,492 72,187,261
4,423,274 7,309,300 8,667,655
0
0
0
0
0
0
1,807,197 2,222,803 2,821,683
671
377
443
15
155
938
473
318
14
168
923
547
316
24
208
57.9
27.9
34.4
2.6
15.0
49.7
34.7
38.2
2.9
15.9
41.7
36.1
33.3
3.4
20.7
0
5,706
24,605
0
9,018
29,625
0
10,912
36,019
0
0
0
163,918
340,162
471,006
10,557,452 16,258,461 20,022,955
0
23
422
0
31
500
33
54
586
0.0
7.7
31.3
0.0
9.7
34.8
0.4
11.7
34.0
7,277
0
0
0
7,137
0
0
0
3,685
0
0
0
545,492
0
0
0
1,202,526
0
0
0
2,550,822
0
0
0
555
173
11
45
734
160
24
19
953
170
24
57
31.6
26.9
2.4
3.9
33.2
23.3
4.8
2.2
35.2
21.8
4.1
16.2
0
0
13,772
0
0
9,572
0
0
460
0
0
66,180
0
0
196,675
0
0
89,295
269
355
345
314
366
414
456
213
473
22.5
26.9
31.2
23.3
27.5
34.8
25.5
33.3
32.5
10,276
0
14,766
0
12,745
0
1,186,739
0
2,685,596
0
2,821,683
0
306
305
415
314
495
352
31.2
19.7
35.3
20.1
31.8
19.5
9,742
882
0
8,032
0
12,600
422
0
2,509
0
14,249
568
0
0
0
215,656
27,057
0
0
0
476,124
53,899
0
0
0
980,432
149,000
0
0
0
106
136
1,269
832
0
124
115
1,595
877
0
149
159
1,557
963
0
27.8
11.8
69.8
34.4
0.0
33.9
13.1
71.4
32.8
0.0
32.1
13.6
52.6
33.3
0.0
0
0
23,419
0
0
11,368
0
0
1,842
0
0
3,546,530
0
0
2,413,000
0
0
259,765
113
266
632
161
214
668
149
178
594
11.0
23.0
36.5
13.4
17.2
40.8
15.3
16.3
35.8
338
0
0
0
0
0
0
0
0
0
0
0
395
157
429
204
517
167
29.3
22.7
32.8
19.6
31.1
23.3
0
3,676
7,416
16,826
0
330
5,887
16,228
0
0
11,401
53,417
0
0
0
0
0
0
4,604,047 1,998,004 5,868,484
5,671,192 12,854,481 26,382,733
48
419
538
594
44
482
418
736
36
619
473
513
6.1
29.2
41.5
82.4
6.9
31.3
49.7
80.9
6.5
30.2
40.9
89.9
4,664
1,243
167,990
25,113
3,102
1,053
5,880
0
976
788
0
0
3,713
0
0
0
0
33,864
10,759
0
0
0
0
0
0
620
5,210
66,440
34,736
1,550
2,287
431
0
758
0
0
0
0
0
0
0
0
27,848
9,370
0
0
0
0
0
0
2,290
2,653
56,270
35,456
2,326
3,015
6,865
138
333
2,396
0
0
0
0
0
0
0
26,283
0
0
n/a
0
0
0
0
48,811
10,522
38,924
120,370
101,634
64,580
15,404,959 13,956,563 15,695,767
2,498,678 3,368,551 3,306,158
73,616
34,324
49,473
10,332
200,584
297,178
87,586
67,733
152,117
0
0
27,885
46,737
119,690
148,839
18,695
0
275,696
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
19,705,483 21,981,243 16,978,440
0
0
0
0
0
0
0
0
n/a
0
0
0
0
0
0
0
0
0
0
0
0
30
106
174
117
94
136
187
40
140
108
3,695
7,444
969
1,269
1,579
261
403
986
838
764
0
0
0
0
0
47
28
188
157
91
143
113
139
132
104
4,701
6,191
1,086
1,310
4,673
329
440
1,042
910
440
0
0
0
0
0
96
31
205
149
112
208
159
152
165
132
3,153
13,373
1,245
1,306
4,124
87
464
981
969
534
n/a
0
0
0
0
10.0
37.7
42.3
35.5
22.7
10.7
16.2
6.4
12.1
8.2
82.9
191.3
44.0
56.4
315.9
15.8
15.3
41.1
35.0
29.2
0.0
0.0
0.0
0.0
0.0
15.3
13.8
42.0
40.0
23.3
12.9
11.8
16.7
13.2
8.5
99.4
125.8
49.7
50.6
139.9
10.4
16.2
41.7
33.2
16.8
0.0
0.0
0.0
0.0
0.0
15.3
17.2
44.3
32.9
31.3
13.6
11.0
15.7
16.9
10.7
41.7
231.4
43.4
44.4
232.2
18.1
13.2
35.3
34.1
18.3
n/a
0.0
0.0
0.0
0.0
For definitions of Peer Group criteria, refer to pages 27 to 28; For details on indicator defintions, refer to pages 43-44.
All values, except “number of MFIs”, are medians. Statistics are not published for peer groups containing fewer than three observations. These results are marked with “n/a”.
Microfinance Information Exchange, Inc
33
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, SRING 2009
Trend Lines 2005 – 2007 MFI Benchmarks (Median Values)
PEER GROUP
Units
Year
All MFIs
SIMPLE PEER GROUPS
Age
New
Young
Mature
Charter Type
Bank
Credit Union
NBFI
NGO
Rural Bank
Financial Intermediation
Non FI
Low FI
High FI
Methodology
Individual
Individual/ Solidarity
Solidarity
Village Banking
Outreach
Small (Outreach)
Medium (Outreach)
Large (Outreach)
Profit Status
Profit
Not for Profit
Region
Africa
Asia
ECA
LAC
MENA
Scale
Small (Scale)
Medium (Scale)
Large (Scale)
Sustainability
FSS
Non-FSS
Target Market
Low end
Broad
High end
Small Business
COMPOUND PEER GROUPS
Africa Small
Africa Medium
Africa Large
Africa FSS
Africa Non FSS
Asia Small
Asia Medium
Asia Large
Asia FSS
Asia Non FSS
ECA Small
ECA Medium
ECA Large
ECA FSS
ECA Non FSS
LAC Small
LAC Medium
LAC Large
LAC FSS
LAC Non FSS
MENA Small
MENA Medium
MENA Large
MENA FSS
MENA Non FSS
OUTREACH INDICATORS
Average Deposit
Average Deposit Account
Account Balance
Balance/GNI per capita
USD
USD
2005
2006
2007
2005
2006
2007
293
334
394
24.3
26.9
27.1
GNI per Capita
MACROECONOMIC INDICATORS
GDP Growth Rate
Deposit Rate
2005
1,320
USD
2006
1,320
2007
1,671
2005
5.1
%
2006
5.5
2007
6.5
2005
4.9
%
2006
5.2
2007
5.0
539
238
283
344
395
319
129
759
390
34.0
20.3
22.7
37.2
24.1
26.0
22.6
36.4
25.6
810
1,325
1,320
690
1,474
1,320
820
1,532
1,671
6.2
6.0
5.0
6.7
6.4
5.0
7.6
7.3
6.3
6.0
4.3
4.9
6.2
4.9
5.1
7.6
5.0
5.0
718
377
443
15
154
926
414
367
15
170
846
504
316
25
208
52.2
27.3
29.4
3.0
15.0
42.4
34.5
30.5
3.0
16.7
38.0
36.1
31.3
3.5
19.7
1,470
2,620
1,240
1,320
1,280
1,935
2,620
1,230
1,340
1,320
2,420
3,063
1,400
1,671
1,666
5.9
4.7
5.9
5.0
4.9
6.1
4.7
6.4
5.0
3.4
7.3
4.8
8.0
6.2
6.4
5.7
3.5
3.6
5.6
5.6
5.3
4.0
4.8
5.3
5.3
5.9
4.9
5.1
5.8
3.7
0
31
419
0
33
449
33
62
541
0.0
8.4
29.2
0.0
10.0
32.8
0.4
11.9
31.1
1,325
470
1,310
1,580
490
1,320
2,109
573
1,671
5.0
6.3
5.0
5.2
6.6
5.1
7.0
7.3
6.4
4.9
5.4
4.9
5.3
5.1
5.2
5.6
5.0
5.0
538
162
11
39
713
157
16
10
774
167
24
57
29.7
24.4
1.5
3.4
30.3
23.3
3.2
0.4
33.2
20.9
4.1
16.2
2,290
1,260
730
1,010
2,455
1,235
730
980
2,920
1,420
820
1,013
5.0
5.0
6.0
6.4
5.1
5.5
6.1
5.7
7.0
6.4
7.3
6.5
4.0
4.9
6.0
4.9
4.9
4.9
6.0
6.0
5.0
5.0
6.0
6.0
267
303
414
315
363
374
456
213
397
21.2
23.7
27.7
23.3
26.7
31.7
23.6
28.3
27.2
1,470
1,260
950
1,840
1,320
1,000
2,640
1,420
1,222
5.0
5.0
6.0
5.4
5.0
6.1
6.4
6.1
7.1
4.9
4.9
5.6
5.2
4.9
5.6
5.1
4.8
5.4
271
317
374
314
464
318
28.5
19.7
33.5
19.3
29.1
19.0
1,260
1,323
1,040
1,474
1,200
2,010
5.6
5.0
5.6
5.2
7.3
6.3
5.6
4.9
5.3
5.1
5.0
5.1
104
146
1,244
755
0
125
115
1,595
756
0
148
161
1,557
748
0
27.0
12.2
76.1
30.8
0.0
33.0
13.4
70.8
29.9
0.0
30.7
13.6
49.2
27.1
0.0
440
730
1,530
2,450
1,740
450
820
1,935
2,620
1,740
460
1,013
2,730
2,920
2,151
5.9
5.7
6.4
4.7
4.9
5.9
5.6
6.7
4.7
6.8
6.4
7.3
7.8
4.7
6.0
5.1
6.0
5.2
3.9
3.5
5.1
6.0
5.2
4.4
4.6
6.0
6.0
5.4
4.8
5.4
116
251
602
145
231
622
149
162
541
11.4
21.4
34.5
13.4
16.9
39.7
15.3
16.2
35.1
1,320
1,270
1,320
1,470
1,320
1,320
1,671
1,671
1,474
5.1
5.1
5.1
5.4
5.0
5.9
6.4
6.4
7.0
5.6
5.2
4.8
5.3
5.3
5.1
5.0
5.0
5.1
393
154
412
166
502
170
25.1
22.1
29.9
18.9
27.2
22.3
1,325
1,120
1,390
1,280
1,671
1,420
5.0
5.4
5.5
5.5
7.0
6.3
4.3
5.6
4.9
5.3
5.0
5.1
57
417
538
591
59
440
418
736
39
589
450
500
6.2
25.8
41.0
77.1
7.4
27.0
42.5
80.9
6.5
27.1
39.7
65.6
1,295
1,320
950
590
1,320
1,474
1,010
500
1,671
1,930
1,100
617
5.4
5.0
5.9
5.9
5.9
5.1
5.5
5.6
7.1
6.4
5.7
6.5
5.6
4.9
4.0
6.9
5.3
4.9
4.7
7.6
6.0
5.0
4.9
5.8
44
102
174
113
92
136
181
61
147
108
3,695
6,313
972
1,244
1,579
240
379
853
746
764
0
0
0
0
0
47
28
196
154
91
143
114
97
143
103
4,683
5,047
1,086
1,310
4,477
289
399
888
777
440
0
0
0
0
0
96
31
205
148
111
208
159
148
165
124
3,023
11,309
1,197
1,265
3,697
87
462
824
749
524
n/a
0
0
0
0
10.0
32.8
42.3
28.5
22.1
10.7
15.9
7.0
12.6
8.2
82.9
167.3
36.5
55.4
315.9
15.8
14.4
37.5
31.2
29.2
0.0
0.0
0.0
0.0
0.0
15.3
13.8
41.9
37.4
23.3
12.9
14.9
16.7
14.1
10.9
99.1
125.8
49.7
50.6
127.5
9.5
13.8
38.1
30.2
16.8
0.0
0.0
0.0
0.0
0.0
14.9
17.2
41.6
30.1
31.3
13.6
11.0
16.9
16.9
10.9
40.0
193.9
39.6
39.8
191.0
18.1
12.6
30.1
28.4
18.1
n/a
0.0
0.0
0.0
0.0
340
440
450
440
380
1,280
730
730
730
730
1,323
1,470
2,700
2,570
1,320
2,455
2,290
2,530
2,620
2,400
1,265
2,460
1,740
1,990
1,245
450
350
455
460
345
1,320
730
730
820
800
1,580
1,885
2,940
1,920
3,220
2,620
2,400
2,620
2,620
2,450
1,170
1,360
2,160
2,030
1,260
581
311
560
581
440
1,666
1,420
820
1,013
1,013
2,730
3,621
2,730
2,730
2,960
2,920
2,920
2,920
2,920
2,920
n/a
2,402
2,151
2,402
1,410
5.9
5.9
5.8
5.9
5.9
5.6
5.7
9.2
6.0
5.5
7.5
6.4
5.0
6.4
6.7
4.5
4.5
4.7
4.7
4.1
4.8
4.9
6.3
7.3
4.8
6.2
6.2
5.6
5.9
6.1
5.5
5.3
9.2
5.6
5.5
7.5
6.7
6.1
7.0
6.4
4.7
4.5
4.7
4.7
4.7
5.2
4.9
7.3
7.3
2.6
6.4
7.0
5.7
6.4
6.0
6.3
7.3
9.2
7.3
6.4
9.9
7.8
7.8
8.1
6.7
4.7
4.6
4.7
4.7
4.7
n/a
4.0
6.4
6.4
3.1
7.8
6.0
4.0
5.1
5.1
6.0
5.6
6.0
6.0
5.6
7.6
5.2
4.0
5.0
7.6
4.0
3.8
3.8
3.5
4.3
7.2
3.0
3.5
3.5
7.2
9.0
5.1
4.6
5.1
5.9
5.3
5.3
6.0
6.0
6.0
5.8
5.7
5.1
5.4
5.1
4.5
4.5
4.1
4.1
4.5
8.4
6.0
3.7
3.7
6.0
10.2
5.2
5.2
9.3
4.2
6.4
3.7
6.0
6.0
6.0
8.4
5.1
5.4
5.4
5.1
4.8
5.0
4.8
4.8
5.0
n/a
5.8
4.6
5.4
6.1
For definitions of Peer Group criteria, refer to pages 27 to 28; For details on indicator defintions, refer to pages 43-44.
All values, except “number of MFIs”, are medians. Statistics are not published for peer groups containing fewer than three observations. These results are marked with “n/a”.
34
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, SRING 2009
Trend Lines 2005 – 2007 MFI Benchmarks (Median Values)
MACROECONOMIC INDICATORS
Inflation Rate
Financial Depth
PEER GROUP
Units
Year
2005
6.8
All MFIs
SIMPLE PEER GROUPS
Age
New
7.6
Young
5.4
Mature
6.4
Charter Type
Bank
7.0
Credit Union
4.0
NBFI
5.4
NGO
6.8
Rural Bank
7.6
Financial Intermediation
Non FI
5.0
Low FI
7.6
High FI
6.9
Methodology
Individual
5.4
Individual/ Solidarity
7.0
Solidarity
7.0
Village Banking
5.4
Outreach
Small (Outreach)
7.6
Medium (Outreach)
6.4
Large (Outreach)
5.4
Profit Status
Profit
7.6
Not for Profit
5.4
Region
Africa
10.3
Asia
7.6
ECA
7.3
LAC
5.0
MENA
3.5
Scale
Small (Scale)
7.6
Medium (Scale)
6.8
Large (Scale)
5.0
Sustainability
FSS
5.0
Non-FSS
7.6
Target Market
Low end
5.7
Broad
6.4
High end
7.2
Small Business
7.3
COMPOUND PEER GROUPS
Africa Small
11.6
Africa Medium
8.6
Africa Large
6.8
Africa FSS
10.3
Africa Non FSS
10.3
Asia Small
7.6
Asia Medium
7.6
Asia Large
7.0
Asia FSS
7.0
Asia Non FSS
7.6
ECA Small
8.2
ECA Medium
7.3
ECA Large
3.8
ECA FSS
4.4
ECA Non FSS
8.2
LAC Small
5.2
LAC Medium
5.4
LAC Large
4.9
LAC FSS
4.7
LAC Non FSS
6.9
MENA Small
4.9
MENA Medium
3.5
MENA Large
1.0
MENA FSS
1.0
MENA Non FSS
4.9
Return on Assets
OVERALL FINANCIAL PERFORMANCE
Return on Equity
Operational SelfFinancial SelfSufficiency
Sufficiency
%
%
%
2005 2006 2007 2005 2006 2007 2005 2006 2007
4.4
6.9
7.3 115.5 119.0 116.4 106.7 109.8 109.1
%
2006
6.3
2007
6.4
2005
37.9
%
2006
38.3
2007
38.3
2005
1.0
%
2006
1.6
2007
1.5
7.9
6.3
5.8
9.8
6.5
5.9
31.4
39.5
39.8
33.8
38.2
40.3
33.8
37.9
38.7
(0.8)
1.4
1.1
0.0
1.3
1.9
0.7
0.6
1.8
(2.0)
4.6
5.6
1.3
4.4
8.7
0.9
2.7
8.7
109.1
116.6
116.1
111.0
119.0
120.3
111.5
112.8
118.5
99.6
108.7
106.8
100.7
109.3
110.6
104.0
105.9
111.0
6.5
3.2
6.3
5.8
6.3
6.7
2.9
6.4
6.4
4.5
34.8
30.1
32.5
40.6
57.2
36.3
33.4
31.4
40.6
57.4
36.3
33.4
37.5
38.7
62.0
1.3
0.8
0.9
1.1
0.9
1.0
0.3
2.3
1.7
1.3
1.0
0.5
1.9
1.7
1.4
8.7
4.3
4.1
3.4
5.0
10.4
4.4
7.4
6.8
9.6
10.5
3.3
9.6
6.0
9.4
116.5
108.5
116.7
114.2
123.1
114.1
106.5
124.0
117.7
124.3
115.6
107.4
121.8
113.5
125.4
110.6
105.8
108.6
105.1
105.4
110.5
102.9
113.0
107.6
110.4
109.7
104.9
112.3
107.1
111.5
5.8
6.8
6.3
6.4
8.2
5.4
37.9
44.5
33.4
38.7
44.5
36.3
38.7
48.7
37.3
1.1
(0.8)
1.2
1.9
0.8
1.5
1.6
1.5
1.5
3.5
(1.9)
7.5
5.9
2.7
10.8
6.2
4.1
11.6
115.9
108.9
116.0
119.7
120.9
117.2
116.4
120.3
114.8
105.9
97.6
107.9
109.1
108.0
110.7
108.1
109.1
110.7
6.0
6.3
6.8
5.8
5.1
6.4
6.4
6.4
35.6
37.9
44.5
38.7
37.9
37.9
49.2
44.0
37.9
38.3
59.2
38.7
1.5
0.8
(0.6)
0.5
1.8
1.5
1.2
1.1
1.6
1.6
0.6
1.3
6.1
2.8
(0.6)
1.7
9.3
5.2
11.3
6.7
10.0
5.9
2.5
5.0
120.2
114.3
109.4
108.0
120.7
119.4
116.5
112.7
116.9
119.2
105.2
111.1
109.6
105.0
100.3
102.5
111.0
108.0
110.4
105.5
111.1
108.1
102.9
105.4
6.3
6.3
5.8
6.4
6.3
6.4
37.7
39.5
41.2
37.9
38.5
40.6
38.5
37.5
43.8
0.6
0.6
1.9
1.1
1.8
1.9
0.8
1.6
1.8
2.3
3.3
11.0
3.3
7.3
13.2
3.3
6.0
11.5
114.5
113.0
121.1
117.7
118.7
120.4
114.3
113.8
118.5
104.0
103.5
112.5
106.7
109.3
112.4
106.4
107.3
111.8
6.3
5.8
6.4
6.4
39.8
37.9
39.8
37.9
38.3
38.3
0.7
1.3
1.2
2.1
1.4
1.7
4.1
4.5
6.8
7.1
9.2
6.1
115.4
115.6
115.6
120.9
116.9
115.8
105.6
106.8
109.7
110.0
110.3
108.3
10.9
6.3
7.5
4.3
6.0
8.2
6.4
8.4
5.4
4.8
28.8
57.4
33.0
35.6
105.1
30.1
57.4
33.4
36.9
103.7
33.8
62.0
37.9
37.1
97.3
(1.2)
0.9
1.4
1.5
2.6
(0.8)
1.2
1.7
2.3
2.4
(0.6)
0.6
1.1
2.1
2.0
(4.9)
4.4
4.4
5.9
5.8
(1.5)
6.8
6.3
8.9
4.9
0.5
5.0
6.2
9.3
7.9
107.4
116.1
121.9
115.4
122.8
109.6
118.7
127.8
118.7
126.1
112.5
114.3
122.2
116.8
128.4
96.2
105.4
109.8
108.5
109.7
98.0
108.0
113.2
111.5
110.7
99.3
107.7
111.0
112.1
108.9
6.5
6.3
5.8
6.4
6.4
6.1
37.9
40.6
37.8
37.9
40.6
38.1
38.3
39.8
38.2
0.4
0.5
1.7
(0.1)
1.1
1.9
1.0
0.8
1.8
1.7
2.7
10.1
0.8
4.5
11.7
2.6
3.8
10.4
112.4
113.0
121.6
112.3
117.5
122.2
112.7
113.7
119.4
102.4
102.7
112.8
99.7
105.8
113.5
104.2
105.5
112.1
5.8
6.5
6.1
6.5
37.9
37.9
39.0
38.1
38.3
38.7
2.9
(5.4)
3.4
(3.7)
2.9
(3.5)
12.5
(12.9)
12.4
(11.0)
12.7
(10.8)
126.1
100.9
126.1
99.4
125.2
100.4
117.1
83.9
117.0
87.0
116.3
86.0
5.8
6.3
4.7
9.1
6.4
6.1
6.7
8.7
44.8
36.8
39.2
28.2
49.3
37.6
36.3
31.3
52.4
37.9
38.3
33.8
0.4
1.3
0.8
(0.1)
0.7
1.8
2.3
1.3
0.7
1.8
1.5
1.9
2.3
5.6
5.1
0.8
6.3
6.7
11.8
6.8
2.5
8.9
6.4
12.1
109.7
120.7
112.9
116.6
114.9
121.0
119.6
119.5
111.8
119.6
117.1
119.6
102.6
109.1
107.6
101.8
105.1
110.9
116.6
111.3
104.6
110.8
109.7
112.1
10.9
10.9
6.6
10.9
10.9
6.3
6.3
5.8
6.3
6.3
8.6
8.3
7.5
7.5
9.2
4.3
4.3
4.3
4.2
6.5
12.5
6.3
4.5
3.9
7.6
10.7
10.3
6.1
9.0
8.2
5.6
2.8
6.4
6.4
6.4
9.0
9.0
4.8
8.4
8.4
5.8
5.4
5.4
5.4
5.4
n/a
4.1
4.3
4.1
9.3
28.8
28.8
30.1
28.8
29.3
57.4
57.4
57.4
57.4
57.2
16.6
32.5
41.9
33.4
18.9
37.8
37.6
35.1
35.4
37.9
103.7
137.5
103.7
105.1
71.1
31.6
31.4
29.6
33.4
29.8
57.4
57.4
57.4
57.4
57.4
20.0
21.3
39.4
33.4
37.9
37.9
37.9
34.3
35.6
37.9
69.7
106.9
103.7
105.3
97.3
33.8
33.8
31.4
33.8
29.4
48.7
62.0
62.0
62.0
62.0
19.5
37.9
37.8
37.4
37.9
38.2
37.9
36.3
37.1
37.5
n/a
97.3
97.3
103.8
65.6
(6.9)
(0.9)
0.9
1.5
(6.0)
1.1
0.2
2.4
2.8
(5.4)
0.4
0.8
1.4
2.8
(5.5)
1.0
1.2
2.8
3.6
(4.5)
(2.4)
2.8
5.6
5.3
(6.4)
(3.0)
(1.9)
1.3
3.1
(3.6)
1.4
0.3
1.3
2.4
(5.3)
4.1
0.7
2.1
3.7
(3.8)
0.0
3.7
2.9
3.9
(2.7)
(0.5)
(1.9)
3.4
4.5
(4.0)
(2.3)
(2.4)
1.1
2.6
(3.9)
0.9
0.5
0.8
2.1
(3.7)
2.0
(0.1)
1.6
3.2
(3.6)
1.9
2.1
2.3
3.2
(2.8)
n/a
1.3
4.9
5.6
(2.4)
(13.9)
(4.1)
3.4
9.0
(15.7)
7.2
1.1
9.2
17.7
(22.5)
0.6
1.1
9.7
10.8
(8.3)
2.7
4.7
16.5
12.2
(11.0)
1.4
4.7
11.0
11.5
(8.5)
(9.5)
(3.4)
7.6
11.3
(11.6)
5.1
4.5
11.5
13.7
(24.3)
6.3
1.8
11.1
11.4
(7.6)
1.8
8.8
18.0
12.9
(7.7)
(3.5)
(2.8)
13.0
10.6
(9.0)
(0.9)
(7.0)
6.0
14.2
(14.4)
2.5
4.7
7.2
12.3
(18.8)
13.8
(0.1)
9.8
13.1
(7.9)
2.8
6.2
14.5
12.5
(6.5)
n/a
1.5
10.4
11.8
(3.1)
98.7
105.4
114.3
122.2
98.7
115.4
108.0
123.7
127.4
97.6
118.3
118.9
123.3
127.0
107.1
111.8
114.5
121.9
123.3
101.2
111.0
115.8
130.1
138.7
90.8
99.1
107.7
119.6
125.9
98.7
117.5
119.0
118.7
123.4
98.5
135.4
122.8
131.4
137.4
102.0
113.2
119.0
120.5
122.9
101.4
116.8
112.8
156.2
141.7
103.6
111.1
107.4
115.1
124.0
100.1
116.6
113.6
114.3
124.8
101.3
111.7
117.7
123.4
132.7
99.7
114.0
114.2
118.0
121.5
100.5
n/a
120.1
142.3
142.3
98.4
72.7
96.5
105.1
110.3
78.7
109.6
101.2
115.2
118.9
82.4
108.7
105.8
115.8
117.1
87.4
104.0
107.5
112.5
117.0
87.9
92.8
109.1
128.0
127.4
76.4
89.6
94.8
107.4
121.5
87.6
108.8
104.6
108.9
114.1
78.6
116.9
105.1
118.7
121.2
87.9
100.1
111.2
115.8
116.8
89.4
101.5
90.8
121.9
120.3
83.6
85.9
90.7
108.6
114.6
81.0
105.8
103.2
108.2
114.1
84.5
111.9
103.2
114.0
119.9
89.9
106.0
107.5
114.4
115.7
91.7
n/a
105.3
122.7
124.1
87.1
For definitions of Peer Group criteria, refer to pages 27 to 28; For details on indicator defintions, refer to pages 43-44.
All values, except “number of MFIs”, are medians. Statistics are not published for peer groups containing fewer than three observations. These results are marked with “n/a”.
Microfinance Information Exchange, Inc
35
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, SRING 2009
Trend Lines 2005-2007 MFI Benchmarks (Median Values)
PEER GROUP
Units
Year
Financial Revenue/
Assets
%
2005 2006 2007
25.3 25.3 24.7
All MFIs
SIMPLE PEER GROUPS
Age
New
24.1
Young
27.3
Mature
25.3
Charter Type
Bank
20.7
Credit Union
20.4
NBFI
25.8
NGO
29.2
Rural Bank
19.4
Financial Intermediation
Non FI
28.3
Low FI
21.3
High FI
21.6
Methodology
Individual
23.9
Individual/ Solidarity
25.8
Solidarity
26.5
Village Banking
29.4
Outreach
Small (Outreach)
25.3
Medium (Outreach)
27.4
Large (Outreach)
22.9
Profit Status
Profit
22.6
Not for Profit
27.4
Region
Africa
21.4
Asia
21.5
ECA
25.4
LAC
29.1
MENA
23.5
Scale
Small (Scale)
29.1
Medium (Scale)
25.6
Large (Scale)
22.8
Sustainability
FSS
26.8
Non-FSS
21.6
Target Market
Low end
28.8
Broad
24.9
High end
20.2
Small Business
19.1
COMPOUND PEER GROUPS
Africa Small
20.4
Africa Medium
30.2
Africa Large
19.5
Africa FSS
22.9
Africa Non FSS
20.9
Asia Small
21.0
Asia Medium
22.4
Asia Large
21.7
Asia FSS
22.2
Asia Non FSS
19.7
ECA Small
35.1
ECA Medium
27.4
ECA Large
20.2
ECA FSS
25.5
ECA Non FSS
24.1
LAC Small
34.0
LAC Medium
29.8
LAC Large
26.7
LAC FSS
29.6
LAC Non FSS
27.6
MENA Small
26.9
MENA Medium
19.7
MENA Large
25.0
MENA FSS
26.2
MENA Non FSS
14.0
REVENUES
Profit Margin
Yield on Gross
Portfolio (nominal)
%
%
2005 2006 2007 2005 2006 2007
6.3
8.9
8.3 30.6 30.5 29.6
Yield on Gross
Portfolio (real)
%
2005 2006 2007
23.6 23.0 22.2
EXPENSES
Total Expense/
Financial Expense/
Assets
Assets
%
%
2005 2006 2007 2005 2006 2007
23.8 23.6 22.9
6.3
6.4
6.7
19.9
26.3
25.5
23.0
24.0
25.0
(0.4)
8.0
6.4
0.7
8.5
9.6
3.8
5.6
9.9
32.1
31.6
30.2
29.1
31.0
30.5
39.0
30.4
29.1
22.0
25.5
22.6
19.1
24.1
22.7
25.7
21.5
22.6
29.8
24.4
22.8
28.0
24.6
22.5
31.3
24.4
22.2
6.2
6.2
6.4
6.7
6.7
6.2
6.9
7.2
6.6
21.4
17.5
26.2
28.8
18.7
19.8
17.6
25.2
29.8
17.7
9.6
5.5
7.9
4.9
5.2
9.5
2.9
11.5
7.0
9.4
8.9
4.6
10.9
6.6
10.3
27.0
22.9
30.6
34.6
26.5
27.1
20.1
31.0
33.2
27.6
23.9
20.4
29.4
33.7
27.7
20.7
18.8
24.8
28.0
16.3
18.6
15.7
23.2
25.4
18.0
16.0
15.1
22.0
26.2
23.2
20.3
19.6
24.0
27.8
19.2
19.0
20.3
24.0
26.9
19.4
19.1
18.3
23.2
27.2
17.1
5.6
4.8
6.6
6.3
6.9
6.6
5.0
6.7
6.6
6.0
6.9
5.2
7.6
6.8
5.2
28.7
22.3
21.2
27.7
22.7
20.1
5.6
(2.6)
7.3
8.4
7.4
9.7
7.5
8.3
9.7
33.5
27.4
26.6
32.4
28.7
26.4
32.1
28.1
25.4
26.6
19.3
18.8
25.2
18.9
19.3
24.7
17.0
18.4
27.2
23.9
20.0
26.7
22.5
19.3
26.3
22.9
18.4
6.6
6.2
6.0
6.7
6.7
5.8
7.5
6.9
5.8
23.7
26.2
25.3
32.6
23.4
25.5
23.0
31.8
8.7
4.7
0.3
2.4
9.9
7.4
9.4
5.2
10.0
7.5
2.8
5.1
28.4
31.9
34.2
40.5
29.0
31.3
28.8
36.7
26.9
30.9
34.4
33.2
21.3
24.8
25.8
30.2
21.2
24.2
21.4
28.3
19.8
22.7
21.5
27.2
21.9
24.6
25.4
32.0
21.3
24.3
24.0
34.1
20.5
23.9
28.7
28.4
6.8
5.9
7.0
6.0
6.8
6.0
6.8
6.8
6.9
6.6
6.7
7.2
25.6
27.9
22.7
24.6
27.9
22.8
3.8
3.4
11.1
6.2
8.6
11.0
6.0
6.8
10.5
30.6
32.7
28.8
30.7
32.2
28.3
29.7
33.4
26.8
23.3
24.8
22.0
23.8
25.6
20.6
22.2
26.0
18.3
25.4
25.6
20.0
25.9
25.1
20.1
24.1
27.0
20.8
6.5
6.7
6.0
6.7
6.6
6.0
6.4
6.6
7.2
22.5
26.4
22.5
26.2
5.3
6.3
8.9
9.1
9.4
7.6
28.4
31.9
29.4
30.8
28.1
30.4
19.4
25.5
19.9
24.2
19.6
23.5
21.9
25.4
21.6
24.6
21.1
24.7
6.7
6.1
6.3
6.5
7.0
6.7
22.2
21.5
25.3
28.9
23.4
22.2
21.6
25.6
27.6
24.8
(3.9)
5.2
8.9
7.8
8.9
(2.0)
7.4
11.7
10.3
9.6
(0.7)
7.1
10.0
10.8
8.1
35.0
26.6
29.5
32.7
31.9
31.4
27.6
29.8
31.8
33.2
30.2
27.0
28.3
31.0
32.9
22.6
18.3
23.1
26.3
25.5
22.2
19.5
21.9
25.2
23.3
21.5
18.5
19.6
25.1
25.5
25.1
21.1
23.7
26.6
19.8
23.4
20.4
23.7
25.4
21.5
25.4
21.0
22.3
25.1
20.3
6.1
6.2
6.3
6.8
3.3
5.7
6.3
6.9
6.8
5.2
5.3
6.9
8.0
7.1
5.2
29.3
27.2
22.4
26.6
28.4
23.4
2.3
2.7
11.4
(0.3)
5.5
11.9
4.0
5.2
10.8
37.3
32.7
26.8
38.3
31.9
27.8
34.6
33.4
27.0
28.0
25.1
20.6
28.2
24.2
20.5
27.6
24.6
19.1
30.4
25.4
20.0
31.2
25.6
20.1
29.1
26.9
20.5
6.7
6.5
5.8
6.4
6.7
6.0
6.6
6.7
6.9
26.6
22.1
26.0
22.3
14.6
(19.2)
14.6
(15.0)
14.0
(16.4)
31.6
29.2
30.9
28.9
29.9
28.4
24.9
19.2
23.9
19.4
23.1
20.1
22.0
29.4
21.5
28.0
21.4
26.9
6.0
6.8
6.3
6.7
6.7
6.9
27.7
25.4
20.9
19.6
29.3
25.2
18.0
19.2
2.5
8.3
7.1
1.5
4.9
9.8
14.2
10.1
4.5
9.7
8.9
10.8
37.3
29.6
23.9
22.5
35.4
30.0
23.4
25.2
33.8
29.1
21.1
23.4
29.9
22.6
15.9
15.1
27.6
22.5
18.2
17.7
26.9
22.0
14.4
16.3
28.0
22.6
20.5
19.1
27.3
23.0
18.6
18.1
28.0
22.1
16.1
17.9
6.1
6.6
5.1
5.7
6.3
6.5
5.0
6.8
7.2
6.7
6.0
4.9
27.0
23.5
19.5
22.2
22.1
24.4
22.0
20.7
23.2
17.1
34.8
28.5
22.0
26.1
23.0
30.0
33.3
26.3
29.3
25.6
33.7
20.4
23.6
28.2
15.8
21.0
24.4
21.0
24.0
21.1
21.7
21.6
21.5
23.0
17.6
28.4
28.2
23.7
25.6
25.6
30.9
33.3
24.4
28.4
26.5
n/a
24.8
21.1
25.9
17.0
(37.5)
(3.6)
4.9
9.4
(27.1)
8.7
1.2
13.2
15.9
(21.4)
8.0
5.5
13.7
14.6
(14.5)
3.8
7.0
11.1
14.5
(13.8)
(11.0)
8.3
21.9
21.5
(31.0)
(11.7)
(5.5)
6.9
17.7
(14.2)
8.1
4.4
8.2
12.4
(27.2)
14.5
4.8
15.8
17.5
(13.8)
0.1
10.1
13.6
14.4
(11.8)
(1.1)
(10.2)
18.0
16.9
(19.6)
(16.5)
(10.5)
7.9
12.8
(23.5)
5.5
3.1
7.6
12.3
(18.3)
10.6
3.0
12.3
16.6
(11.3)
5.7
7.0
12.6
13.6
(9.0)
n/a
5.0
18.5
19.4
(14.8)
35.0
57.4
22.7
41.2
26.3
30.5
28.6
24.7
27.4
26.3
40.6
34.0
24.9
30.6
28.5
40.3
33.2
29.6
33.0
32.1
36.7
30.2
30.5
33.3
30.0
39.9
31.4
26.5
29.4
31.5
29.7
28.3
26.3
28.4
23.9
41.8
30.8
27.3
30.6
27.8
33.3
36.5
29.2
31.7
32.1
38.9
30.0
29.4
33.5
32.1
33.9
38.0
24.8
40.9
26.1
31.4
26.8
26.4
27.9
26.7
41.3
31.4
26.0
27.9
29.1
33.3
35.6
27.6
31.0
32.1
n/a
34.7
29.4
32.2
33.5
17.9
37.0
16.4
30.8
17.9
18.1
20.0
17.1
18.6
17.6
30.5
27.1
18.5
24.6
19.5
32.9
24.6
23.7
27.3
22.6
31.4
24.1
25.5
32.2
23.0
26.2
22.2
19.5
21.3
22.4
19.5
21.2
19.5
20.7
15.0
32.1
23.6
18.0
23.6
18.1
28.0
30.0
22.3
25.8
24.1
24.7
24.2
22.3
26.3
19.7
22.8
25.3
21.4
28.2
18.4
23.1
20.6
17.4
19.9
16.9
29.6
22.3
17.9
19.1
22.6
29.6
29.2
20.4
25.5
24.6
n/a
27.8
24.0
26.5
25.0
26.4
34.3
19.9
20.3
26.1
23.0
21.4
19.3
18.7
29.2
33.9
26.9
18.2
21.6
33.3
33.0
25.7
21.8
24.2
31.3
27.6
17.7
19.4
19.8
21.8
33.1
30.2
20.1
19.8
33.1
31.2
20.2
19.6
20.0
22.6
28.0
29.6
19.2
21.3
28.6
33.1
28.7
21.2
24.3
33.5
34.5
21.8
19.6
20.7
23.2
28.7
30.5
20.1
19.9
26.8
26.9
21.0
20.8
19.9
23.8
26.0
26.9
19.5
20.1
27.4
30.4
28.9
21.4
23.6
31.4
n/a
21.7
18.3
20.0
20.3
6.8
7.4
4.8
5.4
6.2
6.3
6.0
6.6
6.2
6.3
8.2
7.1
5.1
5.1
9.3
6.5
7.3
6.6
6.8
7.5
7.3
2.5
3.3
2.8
7.0
6.4
7.9
4.1
4.7
6.8
6.7
6.0
6.4
6.2
6.6
6.7
8.9
6.6
6.7
8.3
6.3
6.8
7.3
7.2
6.0
6.5
5.6
4.5
4.5
6.6
6.2
7.0
5.1
4.7
6.0
5.9
6.2
7.4
6.9
6.9
9.4
8.6
7.5
7.7
8.4
6.7
7.3
7.2
7.4
6.6
n/a
3.8
5.5
5.1
8.4
For definitions of Peer Group criteria, refer to pages 27 to 28; For details on indicator defintions, refer to pages 43-44.
All values, except “number of MFIs”, are medians. Statistics are not published for peer groups containing fewer than three observations. These results are marked with “n/a”.
36
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, SRING 2009
Trend Lines 2005 – 2007 MFI Benchmarks (Median Values)
PEER GROUP
Units
Year
All MFIs
SIMPLE PEER GROUPS
Age
New
Young
Mature
Charter Type
Bank
Credit Union
NBFI
NGO
Rural Bank
Financial Intermediation
Non FI
Low FI
High FI
Methodology
Individual
Individual/Solidarity
Solidarity
Village Banking
Outreach
Small (Outreach)
Medium (Outreach)
Large (Outreach)
Profit Status
Profit
Not for Profit
Region
Africa
Asia
ECA
LAC
MENA
Scale
Small (Scale)
Medium (Scale)
Large (Scale)
Sustainability
FSS
Non-FSS
Target Market
Low end
Broad
High end
Small Business
COMPOUND PEER GROUPS
Africa Small
Africa Medium
Africa Large
Africa FSS
Africa Non FSS
Asia Small
Asia Medium
Asia Large
Asia FSS
Asia Non FSS
ECA Small
ECA Medium
ECA Large
ECA FSS
ECA Non FSS
LAC Small
LAC Medium
LAC Large
LAC FSS
LAC Non FSS
MENA Small
MENA Medium
MENA Large
MENA FSS
MENA Non FSS
Provision for Loan
Impairment/Assets
%
2005
2006
2007
1.5
1.4
1.3
Operating
Expense/Assets
%
2005
2006
2007
15.1
14.5
13.4
EXPENSES
Personnel
Expense/Assets
%
2005
2006
2007
8.2
7.8
7.4
Administrative
Expense/Assets
%
2005
2006
2007
6.8
6.5
6.0
Adjustment
Expense/Assets
%
2005
2006
2007
1.7
1.5
1.3
1.1
1.4
1.6
1.1
1.7
1.4
0.9
1.1
1.4
19.5
15.5
13.6
18.9
16.2
13.6
20.6
14.9
12.8
10.0
9.3
7.3
9.7
8.3
7.5
10.9
8.3
7.0
8.9
6.8
6.5
7.9
7.0
6.3
9.0
6.5
5.8
1.8
1.6
1.7
2.2
1.6
1.4
2.2
1.5
1.2
1.4
2.0
1.5
1.4
1.5
1.5
1.5
1.5
1.5
1.1
1.3
1.6
1.2
1.5
1.0
11.5
9.5
15.2
19.7
10.6
11.1
10.3
15.0
18.2
10.4
9.7
10.9
13.4
17.9
9.1
5.1
4.7
8.2
10.9
4.9
5.4
4.5
8.5
10.5
4.8
5.1
4.6
7.5
10.4
4.4
5.7
4.7
6.5
8.0
4.8
5.7
5.5
6.6
7.8
4.9
5.1
6.0
6.0
7.5
4.5
1.2
0.5
1.7
2.0
2.7
0.9
0.5
1.6
1.7
1.9
0.8
0.7
1.4
1.5
1.6
1.5
1.1
1.7
1.5
1.2
1.4
1.3
1.3
1.3
18.2
15.4
11.4
17.0
14.2
10.9
16.6
11.9
10.3
10.4
8.0
5.1
9.9
7.5
4.9
9.1
7.6
4.8
7.6
7.2
5.7
7.3
6.5
5.8
6.7
5.5
5.5
1.9
3.0
1.2
1.8
2.6
0.8
1.5
2.2
0.8
1.7
1.5
0.9
1.4
1.5
1.5
0.9
1.1
1.4
1.3
0.9
1.3
12.1
16.4
19.1
23.7
11.9
15.8
15.0
25.1
11.1
14.7
17.4
19.1
6.1
9.2
9.8
13.5
5.8
9.0
8.1
12.7
5.6
8.2
10.1
11.0
5.8
7.2
6.9
10.2
5.7
7.0
6.2
9.6
5.5
6.2
7.6
8.1
1.4
2.1
1.9
1.7
1.1
2.0
1.7
1.6
1.0
1.6
1.2
1.1
1.4
1.7
1.4
1.4
1.7
1.4
1.1
1.6
1.3
16.6
16.0
12.1
16.5
16.1
11.5
14.4
16.6
11.2
9.6
8.5
5.9
8.9
9.2
6.0
7.9
8.9
5.8
7.3
7.3
5.4
7.3
7.5
5.4
6.4
7.1
5.0
2.4
1.7
1.2
2.2
1.8
0.9
1.8
1.4
0.8
1.5
1.5
1.4
1.4
1.2
1.4
12.6
16.6
13.3
15.5
11.7
14.7
6.0
9.8
6.5
8.8
5.9
8.4
6.4
7.0
6.6
6.5
5.7
6.2
1.5
1.8
1.2
1.7
1.1
1.4
1.7
1.5
1.1
1.8
0.7
1.4
1.2
1.3
1.7
0.9
1.5
1.0
1.0
1.6
0.5
15.9
12.2
15.6
16.1
15.5
15.3
11.6
14.6
15.8
15.2
15.8
11.3
13.2
14.4
15.0
8.5
5.9
8.2
9.2
9.8
8.1
6.0
8.3
8.8
10.3
8.2
5.9
7.1
7.9
9.9
8.1
5.7
6.1
6.9
6.2
8.0
5.1
6.3
6.9
4.8
8.1
4.9
5.6
6.3
4.6
2.8
1.7
1.7
1.3
1.7
2.3
1.6
1.9
1.1
3.5
2.2
1.5
1.7
0.8
2.5
1.4
1.5
1.6
1.3
1.6
1.4
1.4
1.4
1.3
20.1
15.7
11.9
20.8
16.6
11.4
20.5
17.2
11.3
11.8
8.8
5.8
11.9
9.1
5.8
11.0
9.3
5.7
8.7
7.4
5.4
9.0
7.3
5.3
8.0
7.0
5.3
2.7
1.8
1.1
2.7
2.1
1.0
2.5
1.6
0.9
1.2
2.2
1.3
2.4
1.1
2.2
14.0
18.0
13.6
16.8
12.3
16.7
7.8
9.8
7.5
9.1
6.8
8.6
6.1
8.2
6.0
8.0
5.5
7.6
1.0
3.9
1.1
4.0
0.9
3.4
1.4
1.6
1.6
1.2
1.3
1.6
1.5
1.3
1.3
1.4
0.9
1.0
20.2
13.7
10.4
9.8
19.4
13.7
10.7
9.0
19.6
12.9
9.7
9.8
11.8
7.3
5.6
4.4
11.3
7.5
5.4
4.5
11.4
6.9
4.5
4.7
8.0
6.4
5.3
5.1
7.9
6.4
4.9
4.7
7.5
5.9
5.0
4.5
1.7
1.9
1.1
1.8
1.8
1.4
0.8
0.9
1.5
1.2
1.1
0.8
0.9
1.7
2.5
0.8
3.1
1.4
1.7
1.1
0.9
3.1
1.1
0.8
1.2
1.1
1.7
1.7
1.6
1.9
1.7
2.5
0.8
0.9
0.6
0.7
0.7
1.0
1.3
2.4
1.1
1.6
1.4
1.5
1.0
0.9
3.5
1.6
1.3
1.2
1.1
1.6
1.5
2.0
1.7
1.6
3.0
0.4
0.9
1.0
0.7
1.6
1.3
1.6
1.6
1.3
1.9
2.3
1.4
0.9
0.7
3.3
1.0
1.2
0.9
0.8
1.4
1.5
1.7
1.6
1.6
3.3
n/a
0.5
0.6
0.7
0.4
18.2
24.8
12.1
15.5
16.4
12.8
12.6
11.3
10.8
15.9
19.7
17.3
10.1
12.7
18.0
22.8
16.5
12.2
15.1
20.0
22.0
14.9
15.0
15.5
15.0
24.5
20.1
13.5
13.5
19.6
16.9
11.9
10.8
11.4
11.9
19.6
16.8
9.8
13.0
18.1
21.9
20.3
12.1
14.7
22.1
25.3
14.5
13.6
15.8
13.6
16.7
19.8
14.4
15.9
15.8
16.2
11.2
11.3
11.3
11.3
16.7
17.0
10.4
11.7
17.4
23.6
19.1
11.2
13.7
20.2
n/a
17.8
10.8
15.0
16.3
9.3
13.0
5.3
8.9
7.3
7.2
5.7
5.7
5.3
7.8
12.4
10.1
5.0
7.7
10.4
13.0
9.3
5.9
8.3
11.7
11.9
9.7
8.6
9.9
8.5
13.7
9.1
5.6
6.1
11.2
8.0
5.5
5.6
5.8
6.2
11.1
9.6
5.0
7.0
9.5
11.9
10.5
5.9
8.2
11.9
14.3
8.9
9.0
10.7
8.5
9.5
11.3
5.3
8.4
7.5
7.7
5.1
5.9
5.8
5.9
10.9
9.1
5.6
6.7
8.8
13.5
10.7
5.7
7.5
11.0
n/a
12.4
7.1
9.9
11.4
8.5
10.0
6.6
7.4
8.3
7.2
7.1
4.5
3.7
7.5
8.9
7.8
4.9
5.4
8.2
9.6
7.3
5.9
6.6
8.6
9.1
5.2
6.4
6.4
5.0
10.1
9.4
7.4
7.6
9.4
8.7
5.7
4.6
5.0
5.7
7.9
7.3
4.7
5.2
7.3
9.6
8.8
6.0
6.4
9.9
9.9
4.5
4.6
5.4
4.2
7.7
8.7
8.2
7.5
8.5
8.4
5.1
4.8
4.6
5.9
8.0
6.5
4.8
4.9
8.2
7.9
8.7
5.3
6.0
10.5
n/a
5.6
3.8
4.6
4.3
4.6
2.8
1.9
1.7
3.2
2.1
1.8
1.3
0.9
4.0
3.5
2.4
1.1
1.2
5.9
2.5
1.5
0.8
0.9
3.5
3.4
1.6
0.8
0.9
3.1
2.6
3.9
1.5
1.2
4.5
3.7
1.6
1.1
1.2
4.1
3.2
4.3
1.3
1.4
3.6
2.7
1.3
0.4
0.8
3.9
5.8
4.0
2.7
2.4
5.4
4.3
3.7
1.8
1.1
3.9
1.9
1.2
1.2
0.9
3.3
3.6
2.9
1.0
1.1
3.3
1.7
1.2
0.3
0.6
2.0
n/a
3.0
1.9
1.6
3.8
For definitions of Peer Group criteria, refer to pages 27 to 28; For details on indicator defintions, refer to pages 43-44.
All values, except “number of MFIs”, are medians. Statistics are not published for peer groups containing fewer than three observations. These results are marked with “n/a”.
Microfinance Information Exchange, Inc
37
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, SRING 2009
Trend Lines 2005 – 2007 MFI Benchmarks (Median Values)
PEER GROUP
Units
Year
Operating Expense/
Loan Portfolio
%
2005 2006 2007
20.6 18.7 18.1
All MFIs
SIMPLE PEER GROUPS
Age
New
31.9
Young
20.7
Mature
18.4
Charter Type
Bank
17.5
Credit Union
12.9
NBFI
19.5
NGO
25.4
Rural Bank
16.3
Financial Intermediation
Non FI
23.4
Low FI
21.5
High FI
15.3
Methodology
Individual
15.5
Individual/ Solidarity
23.4
Solidarity
30.4
Village Banking
32.4
Outreach
Small (Outreach)
23.4
Medium (Outreach)
22.6
Large (Outreach)
16.4
Profit Status
Profit
18.5
Not for Profit
21.9
Region
Africa
36.2
Asia
17.2
ECA
19.1
LAC
20.6
MENA
21.9
Scale
Small (Scale)
29.8
Medium (Scale)
22.0
Large (Scale)
15.1
Sustainability
FSS
17.5
Non-FSS
27.4
Target Market
Low end
28.3
Broad
18.0
High end
15.4
Small Business
13.5
COMPOUND PEER GROUPS
Africa Small
63.9
Africa Medium
41.5
Africa Large
17.2
Africa FSS
37.9
Africa Non FSS
33.4
Asia Small
28.1
Asia Medium
18.5
Asia Large
14.2
Asia FSS
14.0
Asia Non FSS
28.0
ECA Small
24.5
ECA Medium
23.4
ECA Large
13.1
ECA FSS
16.5
ECA Non FSS
24.5
LAC Small
29.4
LAC Medium
22.1
LAC Large
15.6
LAC FSS
18.7
LAC Non FSS
27.3
MENA Small
32.9
MENA Medium
20.7
MENA Large
19.9
MENA FSS
21.2
MENA Non FSS
31.7
Personnel Expense/
Loan Portfolio
%
2005 2006 2007
11.2 10.2
9.4
EFFICIENCY
Average Salary/
Cost per Borrower
GNI per Capita
x
USD
2005 2006 2007 2005 2006 2007
4.3
4.2
3.9
108
111
126
Cost per Loan
2005
106
USD
2006
110
2007
122
Cost per Borrower/
GNI per Capita
%
2005 2006 2007
6.4
6.6
6.4
27.8
20.6
17.9
32.7
19.8
16.9
16.5
11.8
9.7
15.5
10.4
9.9
20.4
10.4
9.2
4.6
4.5
3.8
5.3
4.3
4.1
4.6
4.2
3.8
131
120
103
110
116
111
120
141
124
131
118
99
110
117
105
120
139
120
12.7
6.5
5.6
19.8
7.4
5.8
17.9
7.1
5.8
16.8
14.0
18.4
24.0
16.9
14.1
14.1
16.6
22.5
16.6
7.5
5.7
10.3
14.8
7.5
7.5
5.8
10.4
13.2
9.1
7.5
5.8
9.3
13.0
8.5
5.6
3.4
5.5
3.0
3.1
5.0
3.8
5.5
3.3
2.9
5.0
3.7
5.2
3.2
2.8
264
162
143
80
62
282
199
137
78
76
274
231
147
87
98
280
158
129
79
63
261
171
127
78
75
236
199
138
88
98
17.3
6.5
8.0
4.3
5.2
17.0
7.5
8.8
4.4
6.3
14.4
7.5
7.6
3.9
5.9
21.6
17.8
15.9
20.6
15.0
15.2
13.7
11.4
7.2
12.7
10.3
7.1
11.8
9.7
6.9
4.0
5.6
4.3
4.0
6.4
4.2
3.6
6.6
4.2
96
30
159
102
37
170
114
41
191
96
30
146
101
29
155
113
38
173
5.6
6.0
8.4
5.8
7.5
9.6
5.0
6.6
8.9
15.0
21.2
24.9
28.6
13.9
19.7
23.2
24.2
7.5
13.2
15.3
18.1
7.5
11.7
13.1
16.2
6.9
10.3
15.4
13.8
4.3
4.6
3.6
2.7
4.1
4.9
3.2
2.9
3.9
4.3
3.2
3.2
157
104
30
53
190
105
32
59
208
112
30
65
147
103
28
53
172
103
29
58
187
110
30
64
7.7
6.9
3.5
3.3
7.6
7.4
2.8
3.2
7.8
6.6
2.6
3.0
21.4
22.6
15.7
19.1
21.8
14.3
12.8
12.4
8.4
11.8
12.7
8.4
11.1
11.7
8.0
4.3
4.8
3.6
3.7
4.9
4.3
3.2
5.6
4.0
144
101
61
140
111
73
155
127
92
139
98
58
139
104
69
151
127
89
7.5
6.8
4.4
7.4
7.5
5.0
6.4
8.6
5.0
18.2
19.3
17.0
18.7
9.3
12.4
9.6
10.9
8.7
10.2
5.2
3.7
5.2
3.8
4.8
3.7
134
103
137
106
146
117
124
101
131
102
134
116
9.1
5.5
10.0
5.6
8.5
5.1
33.4
15.9
17.9
19.0
21.0
28.6
15.0
15.3
18.2
19.9
18.3
9.3
10.3
10.7
14.0
16.6
8.8
9.8
10.2
13.4
13.8
8.8
8.5
9.9
14.0
13.8
2.5
4.6
4.6
3.0
14.6
2.6
4.8
4.2
3.8
12.5
2.6
4.2
3.9
3.2
93
30
199
143
57
97
38
239
140
64
114
42
280
148
68
76
27
198
128
57
93
34
229
137
62
114
41
265
143
66
17.9
3.3
10.9
6.0
3.2
19.1
3.7
11.2
6.3
3.1
21.7
3.7
10.4
6.0
2.8
30.0
21.1
14.9
30.5
21.6
14.7
16.5
12.3
7.6
16.9
11.9
7.5
16.7
11.8
7.6
3.7
4.3
4.8
3.1
4.2
4.7
2.6
3.8
4.6
83
114
143
84
111
152
81
126
147
83
108
131
84
108
145
80
120
142
5.5
7.1
6.8
5.9
6.4
7.9
4.9
6.0
7.4
17.3
25.2
15.7
22.8
9.8
15.0
9.4
13.2
8.8
12.2
3.8
5.3
4.2
4.1
3.9
3.6
109
106
116
106
129
120
106
105
114
102
124
112
5.7
9.2
6.3
7.7
6.0
8.3
27.3
17.9
12.9
13.9
25.3
16.3
13.7
14.1
16.4
9.4
7.3
6.8
15.9
9.2
6.9
6.8
15.2
8.7
6.8
5.9
2.8
4.9
8.9
10.0
2.7
4.8
9.9
11.4
2.8
4.5
8.9
12.5
48
143
256
484
49
141
259
412
57
152
249
379
47
133
262
496
48
136
237
412
54
145
222
374
3.3
8.4
26.0
50.2
3.3
8.8
23.0
78.7
2.8
8.0
22.4
50.2
61.0
36.4
21.5
28.6
39.8
31.4
17.7
14.3
15.5
18.6
22.8
20.7
13.9
15.5
21.6
28.7
25.7
15.4
18.1
29.4
30.9
21.1
15.4
19.2
26.3
49.2
34.0
22.6
31.8
23.1
28.4
16.0
14.3
14.2
18.0
30.4
18.8
13.1
13.8
21.9
27.8
22.5
14.0
16.7
25.8
n/a
24.2
13.8
19.4
27.7
25.6
20.1
6.9
18.9
15.9
14.2
9.3
7.6
7.6
14.8
14.4
12.7
6.9
8.7
13.5
17.6
11.8
7.5
10.2
15.6
17.8
13.4
11.5
13.0
16.4
27.4
18.2
8.9
13.7
22.5
14.2
9.1
8.0
8.5
9.1
13.3
11.5
6.5
9.0
11.8
15.7
13.3
7.5
9.4
14.5
18.4
17.1
10.8
13.0
17.3
22.7
20.4
8.7
17.1
11.1
13.6
9.3
8.6
8.0
10.3
18.9
10.5
6.6
7.6
11.4
16.5
12.5
7.3
9.0
13.1
n/a
16.3
9.8
12.7
19.2
10.7
15.0
14.7
11.5
15.0
1.6
2.5
2.8
1.9
3.7
3.5
4.6
5.4
4.6
4.8
3.6
5.3
5.5
4.6
4.8
2.7
3.0
3.4
3.2
2.5
9.5
14.6
17.1
12.4
14.9
2.2
2.8
2.8
2.6
2.7
3.1
4.9
4.9
4.9
4.7
3.1
4.3
5.0
4.3
3.7
4.3
3.3
3.9
3.9
2.7
8.8
13.9
15.2
15.0
11.9
2.0
2.9
2.9
2.6
2.9
2.4
3.7
5.2
4.6
3.7
2.7
4.0
4.6
4.0
3.0
n/a
3.0
3.6
3.2
2.9
53
93
118
91
93
37
43
15
21
51
133
181
287
162
326
106
145
164
138
147
43
99
48
66
43
76
84
131
109
87
58
38
18
34
48
183
205
324
192
309
101
137
181
153
128
53
124
51
68
42
104
104
131
132
95
71
53
26
35
50
120
263
289
206
393
87
133
187
150
147
n/a
82
66
71
44
54
77
118
70
84
31
40
14
21
51
133
173
281
162
326
102
137
151
128
146
43
99
48
63
43
76
81
131
109
86
58
34
18
30
48
168
194
324
192
309
101
135
160
142
128
53
124
51
66
42
104
104
125
132
93
71
41
23
35
48
120
215
289
198
393
87
133
166
143
145
n/a
82
62
68
44
14.7
17.9
20.2
20.2
16.5
3.0
4.5
2.3
2.3
4.6
11.1
8.6
13.7
9.0
17.3
5.1
7.3
6.7
6.0
6.4
3.4
3.1
2.8
2.9
4.2
15.1
16.2
21.3
21.1
18.6
4.5
4.3
2.6
3.4
4.7
8.1
10.4
12.5
11.2
10.8
4.9
6.9
7.6
6.4
5.5
4.4
2.9
2.7
3.3
2.9
10.0
23.6
25.3
28.1
15.8
4.5
4.1
2.8
3.5
4.6
6.5
7.4
11.0
9.1
13.9
3.9
5.9
7.2
6.1
5.1
n/a
3.0
2.7
2.7
3.5
For definitions of Peer Group criteria, refer to pages 27 to 28; For details on indicator defintions, refer to pages 43-44.
All values, except “number of MFIs”, are medians. Statistics are not published for peer groups containing fewer than three observations. These results are marked with “n/a”.
38
Microfinance Information Exchange, Inc
MICROBANKING BULLETIN, Issue 18, SRING 2009
BULLETIN TABLES
Trend Lines 2005 – 2007 MFI Benchmarks (Median Values)
PRODUCTIVITY
Borrowers per
Loans per Staff
Borrowers per
Loans per Loan Voluntary Depositors
Deposit Accounts
Personnel
Staff Member
Member
Loan Officer
Officer
per Staff Member
per Staff Member
Allocation Ratio
PEER GROUP
Units
Number
Number
Number
Number
Number
Number
%
Year 2005 2006 2007 2005 2006 2007 2005 2006 2007 2005 2006 2007 2005 2006 2007 2005 2006 2007 2005 2006 2007
All MFIs
120 118 120 122 126 124 230 225 221 235 237 232
1
0
0
1
0
0 56.3 55.2 55.1
SIMPLE PEER GROUPS
Age
New
92
81
92
96
81
93 196 165 159 200 165 160
0
0
0
0
0
0 57.9 52.8 58.1
Young
119 109
95 120 114
98 237 225 206 239 231 209
0
0
0
0
0
0 56.0 53.8 52.1
Mature
126 128 125 134 134 130 233 236 233 242 246 248
55
3
0
53
3
0 56.6 57.2 55.9
Charter Type
Bank
88
86
81
92
87
82 221 229 196 242 232 209
105
112 132 115 115 132 50.0 41.2 44.5
Credit Union
110 106 102 115 121 115 215 194 170 213 195 186
302
166 257 252 187 265 48.7 56.7 52.2
NBFI
120 112 120 129 120 123 233 224 220 243 243 232
0
0
0
0
0
0 56.5 53.4 53.0
NGO
142 144 143 145 147 146 237 248 246 242 260 258
0
0
0
0
0
0 57.3 57.5 58.9
Rural Bank
83
80
76
85
80
77 149 147 169 147 147 173
223
254 231 252 251 235 60.9 65.4 61.7
Financial Intermediation
Non FI
133 130 129 133 132 132 231 233 227 236 242 236
0
0
0
0
0
0 57.1 55.7 57.1
Low FI
145 151 153 147 154 163 263 274 296 275 293 300
42
68
90
42
66
93 57.9 52.4 52.1
High FI
90
90
84
96
98
87 198 182 182 204 201 195
168
163 178 174 185 197 51.0 55.1 52.5
Methodology
Individual
92
89
87
97
97
91 205 190 181 215 202 185
73
77
27
81
77
31 51.6 55.4 53.6
Individual/Solidarity
114 118 119 117 123 121 223 228 226 224 241 228
0
0
0
0
0
0 56.0 53.4 53.0
Solidarity
162 188 197 171 188 209 243 301 295 259 301 305
0
0
0
0
0
0 64.3 63.7 65.0
0 60.0 62.6 61.4
Village Banking
178 180 177 182 192 182 294 299 310 294 319 320
0
0
0
0
0
Outreach
Small (Outreach)
86
84
77
87
85
78 164 159 146 167 159 150
0
0
0
0
0
0 54.9 54.3 53.6
Medium (Outreach)
133 134 120 139 137 124 244 239 212 250 258 225
0
0
0
0
0
0 54.0 54.0 52.8
Large (Outreach)
176 166 172 184 173 184 308 288 284 319 311 302
40
23
1
38
22
1 62.0 59.1 58.3
Profit Status
Profit
97 103 103 102 109 108 219 218 212 223 239 230
104
77
68 104
78
76 55.5 51.5 51.7
Not for Profit
133 128 125 140 132 129 232 226 224 238 235 238
0
0
0
0
0
0 57.0 56.9 57.4
Region
Africa
139 146 131 145 149 136 263 283 262 263 284 275
86
97 133
90
97 133 51.5 53.2 53.7
Asia
142 135 141 146 145 145 227 232 249 231 240 265
5
3
2
3
2
3 66.7 65.4 61.4
ECA
80
73
74
80
75
75 159 172 174 165 174 174
0
0
0
0
0
0 51.5 46.0 43.0
LAC
121 125 122 131 132 127 252 241 225 263 260 239
32
18
0
38
18
0 50.0 55.6 56.1
MENA
150 148 167 150 148 167 221 224 217 221 224 218
0
0
0
0
0
0 68.9 63.1 63.0
Scale
Small (Scale)
114 102
99 117 103
99 223 185 167 229 185 168
0
0
0
0
0
0 55.4 54.5 57.7
Medium (Scale)
117 128 123 119 131 126 216 227 227 221 231 238
0
0
0
0
0
0 56.0 54.8 52.2
Large (Scale)
140 134 125 144 145 136 242 245 235 271 271 257
70
23
1
63
22
1 56.6 56.8 56.2
Sustainability
FSS
132 121 123 138 128 129 238 230 230 250 246 249
7
0
0
5
0
0 57.0 55.9 57.0
Non-FSS
109 110 108 111 111 114 205 204 186 208 208 186
0
0
0
0
0
0 53.5 53.9 52.7
Target Market
Low end
165 166 171 173 171 173 267 283 292 280 295 307
0
0
0
0
0
0 61.0 60.7 59.5
Broad
108 104 105 110 109 111 213 208 205 219 218 221
52
4
0
50
3
0 52.5 54.0 54.0
31
57 124 54.5 44.2 47.0
High end
55
63
64
54
63
65 121 169 144 121 174 148
31
57 124
Small Business
38
36
50
40
43
50
85
96 124
80 102 139
55
102 124
65 102 133 44.2 51.4 40.9
COMPOUND PEER GROUPS
Africa Small
131 106
90 132 109
90 273 226 251 277 226 251
90
10
24 133
10
24 50.0 53.5 57.1
Africa Medium
144 166 137 146 167 137 258 284 259 254 287 259
17
23
10
10
32
10 53.6 53.9 50.6
Africa Large
145 153 137 152 153 143 273 314 276 281 314 295
197
177 167 203 210 167 54.6 51.4 53.2
Africa FSS
128 143 120 145 143 125 276 264 250 293 277 250
174
210 228 203 213 231 52.4 51.7 53.2
Africa Non FSS
144 149 144 144 151 151 254 285 285 252 288 297
38
10
24
35
20
24 51.5 53.9 55.9
Asia Small
101
77
67 101
77
67 183 154 113 183 154 113
20
90
71
20
90
71 64.4 66.7 63.4
Asia Medium
132 144 134 140 146 146 222 239 297 223 260 301
43
5
89
58
3
89 67.9 62.2 57.6
Asia Large
178 168 163 187 191 166 238 282 269 277 288 277
0
0
1
0
0
1 70.3 66.6 61.9
Asia FSS
163 146 160 176 156 165 236 240 270 259 276 292
7
3
1
2
3
1 68.0 65.4 62.5
Asia Non FSS
120 118 118 121 118 119 210 208 219 210 208 231
4
0
29
7
0
31 64.1 65.3 58.7
ECA Small
64
66
66
64
68
66 135 134 205 135 146 205
0
0
0
0
0
0 39.3 45.5 37.8
ECA Medium
80
71
67
80
75
71 161 153 144 162 153 147
0
0
0
0
0
0 56.0 52.2 43.4
ECA Large
88
75
79
87
76
79 191 200 195 191 200 195
7
0
0
6
0
0 50.0 43.0 43.9
ECA FSS
90
80
87
90
80
88 174 191 212 174 191 212
0
0
0
0
0
0 51.8 45.5 43.3
ECA Non FSS
42
54
55
43
54
55 110 116 121 110 122 121
0
0
0
0
0
0 41.9 51.5 42.4
LAC Small
120 115 120 121 118 123 251 250 176 251 251 178
0
0
0
0
0
0 56.4 54.1 61.5
LAC Medium
115 121 127 119 129 127 235 233 238 242 244 238
0
0
0
0
0
0 48.6 52.6 52.2
LAC Large
134 136 124 144 152 140 315 241 232 319 272 262
117
103
86 133 105
93 46.7 59.7 60.3
LAC FSS
134 122 125 144 132 137 267 241 228 289 262 250
46
37
0
50
45
0 51.5 57.7 58.3
LAC Non FSS
101 130 117 109 130 117 206 241 221 213 241 221
0
0
0
0
0
0 49.3 51.4 53.2
MENA Small
178 133 n/a 178 133 n/a 252 200 n/a 252 200 n/a
0
0
n/a
0
0
n/a 67.6 64.6 n/a
MENA Medium
133
84 127 133
84 127 185 147 194 185 147 194
0
0
0
0
0
0 65.2 62.7 62.2
MENA Large
185 220 194 187 220 195 222 344 256 223 363 263
0
0
0
0
0
0 81.6 61.8 69.0
MENA FSS
174 185 188 177 196 189 259 283 249 259 287 255
0
0
0
0
0
0 74.8 67.6 70.3
MENA Non FSS
84
84
75
84
84
75 171 153 140 171 153 140
0
0
0
0
0
0 64.6 56.0 52.3
For definitions of Peer Group criteria, refer to pages 27 to 28; For details on indicator defintions, refer to pages 43-44.
All values, except “number of MFIs”, are medians. Statistics are not published for peer groups containing fewer than three observations. These results are marked with “n/a”.
Microfinance Information Exchange, Inc
39
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, SRING 2009
Trend Lines 2005 – 2007 MFI Benchmarks (Median Values)
PEER GROUP
Units
Year
Portfolio at Risk
> 30 Days
%
2005 2006 2007
2.6
2.7
2.6
All MFIs
SIMPLE PEER GROUPS
Age
New
Young
Mature
Charter Type
Bank
Credit Union
NBFI
NGO
Rural Bank
Financial Intermediation
Non FI
Low FI
High FI
Methodology
Individual
Individual/ Solidarity
Solidarity
Village Banking
Outreach
Small (Outreach)
Medium (Outreach)
Large (Outreach)
Profit Status
Profit
Not for Profit
Region
Africa
Asia
ECA
LAC
MENA
Scale
Small (Scale)
Medium (Scale)
Large (Scale)
Sustainability
FSS
Non-FSS
Target Market
Low end
Broad
High end
Small Business
COMPOUND PEER GROUPS
Africa Small
Africa Medium
Africa Large
Africa FSS
Africa Non FSS
Asia Small
Asia Medium
Asia Large
Asia FSS
Asia Non FSS
ECA Small
ECA Medium
ECA Large
ECA FSS
ECA Non FSS
LAC Small
LAC Medium
LAC Large
LAC FSS
LAC Non FSS
MENA Small
MENA Medium
MENA Large
MENA FSS
MENA Non FSS
Portfolio at Risk
> 90 Days
%
2005 2006 2007
1.3
1.4
1.3
RISK AND LIQUIDITY
Write-Off Ratio
Loan Loss Rate
2005
1.1
%
2006
1.2
2007
1.2
2005
0.9
%
2006
0.9
2007
1.0
Risk Coverage Ratio
2005
88.2
%
2006
94.7
2007
96.7
Non-Earning Liquid Assets
as a % of Total Assets
%
2005
2006
2007
8.2
6.2
5.8
1.2
1.6
4.0
0.9
2.1
3.2
2.1
1.9
2.9
0.5
0.9
2.3
0.4
1.0
1.6
0.6
0.9
1.5
0.3
0.9
1.7
0.5
1.1
1.4
0.3
1.0
1.5
0.2
0.8
1.2
0.4
0.8
1.1
0.3
0.8
1.3
98.8 150.1 81.2
96.4 99.4 104.4
82.6 88.9 95.6
8.3
8.0
8.5
7.8
5.2
6.5
6.3
5.2
5.8
2.0
5.4
2.3
2.4
7.5
1.9
5.1
2.2
2.3
5.0
2.0
4.0
2.0
2.9
4.6
1.1
3.5
1.1
1.1
3.3
1.0
3.1
1.0
1.3
3.2
1.1
2.4
0.8
1.4
2.4
1.3
2.6
1.3
0.9
1.0
1.1
2.1
1.2
1.0
2.3
0.9
1.9
1.1
1.3
2.8
0.9
1.8
1.0
0.7
1.0
0.9
1.6
0.9
0.8
2.0
0.6 115.7 144.4 146.2
1.6 50.5 56.8 68.7
0.9 96.3 100.0 104.4
1.1 88.0 94.7 97.1
2.5 67.4 53.2 48.8
6.9
10.0
7.0
6.7
19.3
4.7
8.3
5.9
6.5
7.1
4.6
6.6
5.2
6.5
5.7
2.1
2.1
5.1
2.2
1.6
4.0
2.2
2.0
3.7
1.0
0.7
3.2
1.1
0.9
2.6
1.1
1.0
2.1
0.9
1.0
1.8
0.9
1.2
1.9
1.0
1.0
2.2
0.7
0.8
1.5
0.7
0.9
1.6
0.8 93.3 96.1 105.1
0.7 100.0 111.8 90.1
1.8 70.6 80.4 75.7
5.9
10.6
11.2
5.1
7.3
7.7
5.2
7.0
6.6
3.6
2.6
1.0
2.1
3.6
2.3
1.6
1.8
3.0
2.4
1.4
2.1
1.9
1.3
0.4
0.5
2.0
1.3
0.7
0.9
1.6
1.3
0.6
0.8
1.4
1.2
0.3
0.3
1.9
1.2
0.4
0.4
1.7
1.2
0.5
1.0
1.1
1.0
0.3
0.2
1.4
1.0
0.4
0.4
1.3
1.0
0.3
0.7
91.0
86.1
87.7
87.7
97.7 98.3
92.5 94.7
89.6 102.0
99.7 116.4
8.2
8.1
11.8
7.2
5.4
6.5
5.0
8.0
5.0
5.9
7.4
6.9
3.2
2.4
2.1
3.5
2.6
1.8
3.0
2.8
1.8
1.6
1.2
1.0
1.9
1.1
1.1
1.6
1.4
1.0
0.9
1.3
1.2
1.3
1.5
1.0
1.4
1.8
0.9
0.7
1.0
1.0
1.0
1.2
0.8
1.1
1.5
0.8
86.6 78.2 79.3
91.6 98.8 94.4
91.9 106.2 113.9
8.5
10.6
6.1
6.6
6.4
5.3
5.8
6.5
5.4
3.1
2.5
2.9
2.6
2.5
2.7
1.8
1.2
1.5
1.3
1.3
1.4
1.4
0.9
1.9
0.9
1.4
1.2
1.1
0.8
1.5
0.8
1.1
1.0
93.0
87.7
96.4
97.1
10.6
6.6
5.2
6.9
5.0
6.2
4.8
2.3
1.1
4.1
0.7
4.4
2.2
1.3
3.6
1.2
4.0
2.1
1.0
3.2
1.4
2.3
0.7
0.6
2.5
0.3
1.9
1.0
0.6
2.0
0.3
1.7
1.4
0.5
1.7
0.6
1.5
0.7
0.6
1.5
0.3
1.8
0.8
0.7
1.7
0.5
1.8
1.0
0.5
1.9
0.6
1.4
0.6
0.4
1.2
0.3
1.7
0.7
0.5
1.3
0.2
1.5 60.3 65.2 61.4
0.9 84.8 84.7 84.9
0.3 115.8 132.1 143.6
1.7 90.5 96.8 101.3
0.5 81.8 82.8 82.5
13.4
12.6
4.9
6.6
7.6
10.6
5.4
4.6
6.6
4.0
13.4
5.3
3.3
5.8
4.5
3.2
2.6
2.3
4.2
2.6
2.3
3.7
2.5
2.3
1.5
1.4
1.1
1.7
1.3
1.1
1.7
1.3
1.3
0.9
1.1
1.6
1.1
1.5
1.1
1.7
1.5
1.1
0.6
0.9
1.1
0.7
1.1
0.9
1.2
1.2
0.9
83.8 84.7 78.8
90.5 90.2 91.4
95.2 107.6 104.9
11.4
8.0
5.8
9.1
5.7
5.0
10.0
6.0
5.0
2.1
4.6
2.2
4.6
2.0
4.4
1.0
2.4
1.1
2.4
1.0
2.2
1.0
1.8
1.0
1.8
1.0
2.2
0.7
1.3
0.8
1.5
0.9
1.8
97.5 104.4 109.0
77.3 73.7 72.4
7.1
10.6
5.6
7.8
5.3
7.9
2.3
2.9
2.6
2.8
2.2
2.8
2.3
3.6
2.0
2.8
2.8
3.1
1.0
1.6
0.9
1.5
1.1
1.5
1.1
2.4
1.1
1.4
1.3
1.6
1.0
1.3
0.8
2.4
0.8
1.5
1.2
0.8
1.1
1.5
0.9
1.4
0.8
1.0
0.5
1.8
0.7
1.1
0.9
0.8
1.0
1.2
0.5
1.1
86.1 92.9 90.7
94.8 94.1 98.6
69.1 131.3 101.9
89.9 68.4 83.2
8.8
8.2
7.3
5.4
6.5
5.9
5.7
7.5
6.6
5.2
7.7
6.7
4.6
3.9
5.6
3.6
5.4
2.4
2.6
0.8
1.5
3.6
1.3
1.3
0.8
1.1
1.1
4.2
3.7
4.6
3.5
6.0
0.4
1.0
0.3
0.6
1.8
4.8
3.0
4.6
3.6
5.3
5.0
2.2
1.1
1.9
4.5
1.3
1.5
1.2
1.2
1.6
4.6
3.5
3.5
3.1
5.0
2.2
2.3
0.4
0.5
6.0
5.4
2.4
4.5
3.3
6.5
3.2
2.4
1.5
0.9
5.2
0.3
1.9
0.9
0.9
2.5
4.1
3.0
3.0
2.9
4.9
n/a
1.5
0.9
0.9
3.0
1.6
2.3
2.7
1.5
3.4
1.0
1.4
0.3
0.5
1.5
0.9
0.7
0.4
0.5
0.7
2.2
2.5
3.1
2.4
4.1
0.4
0.5
0.1
0.2
0.7
2.1
1.5
2.2
1.7
2.7
2.5
1.4
0.7
0.9
1.5
0.8
0.5
0.6
0.6
0.6
2.0
2.1
2.0
1.7
3.2
1.7
0.9
0.2
0.3
3.7
1.8
1.1
2.3
1.4
2.5
1.9
1.6
0.7
0.6
2.6
0.2
0.5
0.5
0.4
1.3
1.9
1.6
1.8
1.6
3.2
n/a
0.7
0.4
0.3
2.0
1.3
1.5
2.0
1.0
1.9
0.0
0.7
1.0
0.2
2.6
0.2
0.7
0.8
0.5
0.6
1.1
1.6
2.0
1.4
1.9
0.1
1.1
0.3
0.3
2.1
1.5
1.6
2.0
1.7
1.9
1.3
2.2
0.7
0.7
2.5
0.8
0.6
0.7
0.5
1.1
1.2
1.6
2.0
1.7
1.7
0.4
0.5
0.5
0.5
0.4
1.8
2.2
1.7
1.4
2.2
1.7
2.8
0.7
0.7
2.9
0.3
0.5
0.6
0.3
1.5
1.6
1.7
2.1
1.8
2.3
n/a
0.6
0.5
0.4
1.1
1.0
1.4
2.0
1.0
1.9
0.0
0.4
0.9
0.2
2.2
0.2
0.4
0.6
0.4
0.3
0.8
1.4
1.8
1.1
1.3
0.1
1.0
0.3
0.3
0.5
1.5
1.1
1.9
1.6
1.8
0.6
2.1
0.7
0.5
2.5
0.8
0.5
0.4
0.4
0.6
0.6
1.2
1.8
1.3
1.1
0.1
0.2
0.3
0.2
0.2
1.8
1.9
1.5
1.1
1.8
1.7
2.4
0.6
0.6
2.6
0.3
0.3
0.3
0.3
1.2
1.0
1.6
1.8
1.6
2.0
n/a
0.5
0.4
0.4
0.9
22.5
13.1
10.0
10.6
15.3
18.4
12.9
6.2
11.5
12.8
6.0
5.2
4.2
5.0
4.4
7.9
5.3
5.8
6.6
6.4
9.7
9.5
1.4
5.6
12.7
18.0
8.6
8.3
8.8
11.4
17.7
5.7
4.5
5.4
5.1
4.8
4.0
4.8
4.9
3.5
7.0
6.1
6.8
6.5
7.8
7.3
5.0
3.1
3.8
5.6
18.4
12.6
10.3
10.3
14.2
29.0
6.1
3.5
5.3
5.5
5.5
4.1
2.7
2.7
6.7
6.0
5.3
6.2
5.8
6.2
n/a
10.5
3.3
6.9
2.5
60.8
68.7
51.2
50.5
61.1
82.2
84.8
107.9
91.3
83.8
95.3
101.9
194.4
117.1
101.9
87.7
96.4
87.6
97.5
66.8
90.4
84.3
55.1
86.7
81.3
93.8
95.0
84.8
57.0
60.5
61.8
65.2
73.6
75.9
100.3
96.8
63.7
102.0
94.1
188.6
146.8
100.0
84.9
102.3
106.6
106.9
75.8
59.7
64.0
283.9
96.1
68.9
57.0
75.1
59.4
70.1
59.5
56.3
69.4
99.4
90.1
80.7
345.7
122.3
146.7
170.0
82.4
87.5
106.6
103.4
107.3
77.4
n/a
73.7
87.4
91.0
75.7
For definitions of Peer Group criteria, refer to pages 27 to 28; For details on indicator defintions, refer to pages 43-44.
All values, except “number of MFIs”, are medians. Statistics are not published for peer groups containing fewer than three observations. These results are marked with “n/a”.
40
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Index of Terms and Definitions (Balance Sheet)
Terms
Definitions
Cash and Due from Banks
Cash, petty cash, balances in banks, including non-interest bearing deposits
Reserves from Central Bank
Cash reserves in a central bank
Trade Investments
Treasury bills and other short term investments, including interest-bearing deposits, convertible to
cash within 12 months. Usually used in liquidity management.
Net Loan Portfolio
Gross loan portfolio minus impairment loss allowance
Gross Loan Portfolio
All outstanding principal for all outstanding client loans, including current, delinquent and
restructured loans, but not loans that have been written off. It does not include interest receivable.
It does not include employee loans.
(Impairment Loss Allowance)
The portion of the gross loan portfolio that has been expensed (provisioned for) in anticipation
of losses due to default. This item represents the cumulative value of the provision for loan
impairment, less the cumulative value of loans written off.
Interest Receivable
Interest receivable on all asset accounts. Recorded by institutions using accrual accounting.
Accounts Receivable and Other
Assets
Accounts receivable, notes receivables and other receivables. This includes all receivables other
than client loan accounts, including employee loans.
Other Investments
Long term investments not convertible to cash within 12 months
Net Fixed Assets
The purchase value of property, plant and equipment, less accumulated depreciation. This includes
intangibles, such as MIS development or goodwill, less accumulated amortization.
TOTAL ASSETS
Total of all net asset accounts
Demand Deposits
Total of voluntary and compulsory deposits
Voluntary Deposits
Demand deposits from the general public and members that are not maintained as a condition for
accessing a current or future loan and are held with the institution
Compulsory Deposits
Client deposit accounts that are maintained as a condition for a current or future loan and are held
with the institution
Time Deposits
Certificates of deposit or other fixed term deposits
Borrowings
Total of commercial and concessional borrowings
Borrowings at Concessional
Interest Rates
Principal balance of all borrowings, including overdraft accounts, for which the institution pays a
nominal rate of interest that is less than the local commercial interest rate
Borrowings at Commercial
Interest Rates
Principal balance of all borrowings, including overdraft accounts, for which the institution pays a
nominal rate of interest that is greater than to or equal to the local commercial interest rate
Interest Payable
Interest payable on all liability accounts. Recorded by institutions using accrual accounting.
Accounts Payable and Other
Liabilities
Other liabilities including tax and salary liabilities, social withholdings, deferred revenue, other accounts payable, including liabilities that do not fund the portfolio, such as mortgages on real estate.
TOTAL LIABILITIES
Total of all liability accounts
Paid-in Captial
Capital paid by shareholders or members
Donated Equity
Accumulated donations
Prior Years
Accumulated donations from prior periods
Current Year
Donations from the current year
Retained Earnings
Accumulated net income after taxes and before donations
Prior Years
Accumulated net income after taxes and before donations from prior periods
Current Year
Net income after taxes and before donations from the current year
Adjustments to Equity
Value of all adjustments, including inflation adjustment
Inflation Adjustment
Value of inflation adjustment expense
Subsidized Costs of Funds
Adjustment
Value of subsidized cost of funds adjustment expense
In-Kind Subsidy Adjustment
Value of in-kind subsidy adjustment
Reserves
Reserves such as those imposed by law or statute.
Other Equity Accounts
Other equity accounts not included elsewhere
TOTAL EQUITY
Total of all equity accounts
TOTAL LIABILITIES AND EQUITY
Total of total liabilities and total equity
Microfinance Information Exchange, Inc
41
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Index of Terms and Definitions (Income Statement)
Terms
Definitions
Financial Revenue
Total of revenue from loan portfolio and other financial assets, as well as other financial revenue
from financial services
Financial Revenue from Loan
Portfolio
Total interest, fees and commission on loan portfolio
Interest on Loan Portfolio
Interest earned on loan portfolio
Fees and Commissions on Loan
Portfolio
Penalties, commissions and other fees charged on loan portfolio
Financial Revenue from Investments
Net gains on other financial assets
Other Operating Revenue
Other revenue from provision of financial services, including revenue from insurance or transfer
services or non-financial revenue from the provision of financial services, such as the sale of
passbooks or SmartCards. This account also include net exchange gains.
Financial Expense
Total of financial expense on liabilities, net inflation adjustment, cost-of-funds adjustment and
other expenses from financial services
Financial Expense on Funding
Liabilities
Total of interest and fees paid on deposits and borrowings
Interest and Fee Expense on
Deposits
Interest and fees paid on demand or term deposits
Interest and Fee Expense on
Borrowings
Interest and fees paid on borrowings
Net Adjustment for Inflation
Reserved for institutions that use inflation based accounting. Net amount of inflation adjustment.
Inflation Adjustment to Equity
Cost of maintaining the value of the institution’s equity
Inflation Adjustment to Fixed
Assets
Gain on the value of fixed assets due to inflation
Adjustment for Subsidized Cost of
Funds
Adjustment expense for difference between market rate and concessional rate on borrowings
Other Financial Expense
Other expenses from provision of financial services, including non-financial expenses on financial
products, as well as net exchange depreciation
NET FINANCIAL INCOME
Financial revenue minus financial expense
Impairment Losses on Loans
Sum of provision for loan impairment and recovery on loans written off
Provision for Loan Impairment
Provision for loan impairment for the period
Value of Loans Recovered
Total recovery on loans written off
Operating Expense
Total of personnel expense and administrative expense
Personnel Expense
Salaries, withholdings, fringe benefits and personnel taxes paid on all those who work for the
institution
Administrative Expense
Total of rent and utilities, transportation, office supplies, depreciation and other administrative
expenses
Rent and Utilities
Rent and utility charges
Transportation
Transportation of staff to attend to clients and to manage operations
Office Supplies
Printed matter, supplies, photocopies, books, etc.
Depreciation and Amortization
Allowance for deterioration, eventual replacement of equipment
Other Administrative Expense
Other non-personnel administrative expenses
NET OPERATING INCOME
Financial revenue less financial expense, net loan loss provision expense and operating expense
Net Non-Operating Income
Non-operating Revenue less Non-operating Expense
Non-Operating Revenue
Revenue from activity unrelated to the MFI’s core activity of providing financial services. This could
include consulting income, sale of IT products, or fees for business development services (BDS).
Non-Operating Expense
Expenses from activity unrelated to the MFIs core activity of providing financial services, such as
BDS development costs or consulting expenses
NET INCOME (BEFORE TAXES AND
DONATIONS)
Net operating income less net non-operating income
Taxes
Includes all taxes paid on Net Income or other measure of profits as defined by local tax
authorities.
NET INCOME (AFTER TAXES AND
BEFORE DONATIONS)
Net income (before taxes and donations) less taxes
Donations
Donations made to the MFI to subsidize its operations
NET INCOME (AFTER TAXES AND
DONATIONS)
Net income (after taxes and before donations) plus donations.
42
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Index of Indicators and Definitions
INSTITUTIONAL CHARACTERISTICS
Number of MFIs
Sample Size of Group
Age
Years Functioning as an MFI
Total Assets
Total Assets, adjusted for Inflation and standardized provisioning for loan
impairment and write-offs
Offices
Number, including head office
Personnel
Total number of staff members
FINANCING STRUCTURE
Capital/Asset Ratio
Adjusted Total Equity/Adjusted Total Assets
Commercial Funding Liabilities Ratio
(Voluntary and Time Deposits + Borrowings at Commercial Interest Rates)/
Adjusted Average Gross Loan Portfolio
Debt to Equity
Adjusted Total Liabilities/Adjusted Total Equity
Deposits to Loans
Voluntary Deposits/Adjusted Gross Loan Portfolio
Deposits to Total Assets
Voluntary Deposits/Adjusted Total Assets
Portfolio to Assets
Adjusted Gross Loan Portfolio/Adjusted Total Assets
OUTREACH INDICATORS
Number of Active Borrowers
Number of borrowers with loans outstanding, adjusted for standardized
write-offs
Percent of Women Borrowers
Number of active women borrowers/Adjusted Number of Active Borrowers
Number of Loans Outstanding
Number of loans outstanding, adjusted for standardized write-offs
Gross Loan Portfolio
Gross Loan Portfolio, adjusted for standardized write-offs
Average Loan Balance per Borrower
Adjusted Gross Loan Portfolio/Adjusted Number of Active Borrowers
Average Loan Balance per Borrower/GNI per Capita
Adjusted Average Loan Balance per Borrower/GNI per Capita
Average Outstanding Balance
Adjusted Gross Loan Portfolio/Adjusted Number of Loans Outstanding
Average Outstanding Balance/GNI per Capita
Adjusted Average Outstanding Balance GNI per Capita
Number of Voluntary Depositors
Number of depositors with voluntary deposit and time deposit accounts
Number of Voluntary Deposit Accounts
Number of voluntary deposit and time deposit accounts
Voluntary Deposits
Total value of voluntary deposit and time deposit accounts
Average Deposit Balance per Depositor
Voluntary Deposits/Number of Voluntary Depositors
Average Deposit Balance per Depositor/GNI per
capita
Average Deposit Balance per Depositor/GNI per capita
Average Deposit Account Balance
Voluntary Depositors/Number of Voluntary Deposit Accounts
Average Deposit Account Balance/GNI per capita
Average Deposit Account Balance/GNI per capita
MACROECONOMIC INDICATORS
GNI per Capita
Total income generated by a country’s residents, irrespective of location/Total
number of residents
GDP Growth Rate
Annual growth in the total output of goods and services occurring within the
territory of a given country
Deposit Rate
Interest rate offered to resident customers for demand, time, or savings deposits
Inflation Rate
Annual change in average consumer prices
Financial Depth
Money aggregate including currency, deposits and electronic currency (M3)/GDP
OVERALL FINANCIAL PERFORMANCE
Return on Assets
(Adjusted Net Operating Income — Taxes)/Adjusted Average Total Assets
Return on Equity
(Adjusted Net Operating Income — Taxes)/Adjusted Average Total Equity
Operational Self-Sufficiency
Financial Revenue/(Financial Expense + Impairment Losses on Loans +
Operating Expense)
Financial Self-Sufficiency
Adjusted Financial Revenue/Adjusted (Financial Expense + Impairment Losses
on Loans + Operating Expense)
Microfinance Information Exchange, Inc
43
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Index of Indicators and Definitions (continued)
REVENUES
Financial Revenue/Assets
Adjusted Financial Revenue/Adjusted Average Total Assets
Profit Margin
Adjusted Net Operating Income/Adjusted Financial Revenue
Yield on Gross Portfolio (nominal)
Adjusted Financial Revenue from Loan Portfolio/Adjusted Average Gross Loan
Portfolio
Yield on Gross Portfolio (real)
(Adjusted Yield on Gross Portfolio (nominal) — Inflation Rate)/(1 + Inflation Rate)
EXPENSES
Total Expense/Assets
Adjusted (Financial Expense + Net Loan Loss Provision Expense + Operating
Expense)/Adjusted Average Total Assets
Financial Expense/Assets
Adjusted Financial Expense/Adjusted Average Total Assets
Provision for Loan Impairment/Assets
Adjusted Impairment Losses on Loans/Adjusted Average Total Assets
Operating Expense/Assets
Adjusted Operating Expense/Adjusted Average Total Assets
Personnel Expense/Assets
Adjusted Personnel Expense/Adjusted Average Total Assets
Administrative Expense/Assets
Adjusted Administrative Expense/Adjusted Average Total Assets
Adjustment Expense/Assets
(Adjusted Net Operating Income — Unadjusted Net Operating Income)/
Adjusted Average Total Assets
EFFICIENCY
Operating Expense/Loan Portfolio
Adjusted Operating Expense/Adjusted Average Gross Loan Portfolio
Personnel Expense/Loan Portfolio
Adjusted Personnel Expense/Adjusted Average Gross Loan Portfolio
Average Salary/GNI per Capita
Adjusted Average Personnel Expense/GNI per capita
Cost per Borrower
Adjusted Operating Expense/Adjusted Average Number of Active Borrowers
Cost per Loan
Adjusted Operating Expense/Adjusted Average Number of Loans
PRODUCTIVITY
Borrowers per Staff Member
Adjusted Number of Active Borrowers/Number of Personnel
Loans per Staff Member
Adjusted Number of Loans Outstanding/Number of Personnel
Borrowers per Loan Officer
Adjusted Number of Active Borrowers/Number of Loan Officers
Loans per Loan Officer
Adjusted Number of Loans Outstanding/Number of Loan Officers
Voluntary Depositors per Staff Member
Number of Voluntary Depositors/Number of Personnel
Deposit Accounts per Staff Member
Number of Deposit Accounts/Number of Personnel
Personnel Allocation Ratio
Number of Loan Officers/Number of Personnel
RISK AND LIQUIDITY
Portfolio at Risk > 30 Days
Outstanding balance, portfolio overdue > 30 Days + renegotiated portfolio/
Adjusted Gross Loan Portfolio
Portfolio at Risk > 90 Days
Outstanding balance, portfolio overdue > 90 Days + renegotiated portfolio/
Adjusted Gross Loan Portfolio
Write-off Ratio
Adjusted Value of loans written-off/Adjusted Average Gross Loan Portfolio
Loan Loss Rate
(Adjusted Write-offs - Value of Loans Recovered)/Adjusted Average Gross Loan
Portfolio
Risk Coverage Ratio
Adjusted Impairment Loss Allowance/PAR > 30 Days
Non-earning Liquid Assets as a % of Total Assets
Adjusted Cash and banks/Adjusted Total Assets
44
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Peer Groups 2005
PEER GROUP
DATA QUALITY †
N
***
PARTICIPATING INSITUTIONS
**
*
SIMPLE PEER GROUPS 2005
Age: New
73
10
52
11
ABCRDM, AccessBank, Agroinvestbank, AMC de R.L., AML, APED, ARMP, ASP Financiera,
Azal, Bandhan, Bereke, BOM, BRAC - AFG, CredAgro NBCO, CZWSDA, DD Bank, ECLOF - ARM,
ECLOF - PHL, EDPYME Alternativa, EDPYME Efectiva, FIE Gran Poder, FINCA - AFG, FINCA DRC, FINCA - TJK, FINCA - ZMB, FMFB - AFG, FMFB - Pakistan, FMFB - TJK, FODEM, FONDESOL,
Fundación San Miguel, Grameen Mendoza, Horizon, Horizonti, Kakum RB, KAS, Kasagana-Ka,
Kazama Grameen, Kompanion, KosInvest, KRUSHI, Lead Foundation, LIDER, MBK Ventura, MDF,
Metemamen, MFI, Microinvest, MikroMaliyye Credit, MLF HUMO, MLF MicroInvest, NMF, NMFB,
OBS, OISL, OMB, Parwaz, ProCredit - ECU, ProCredit - GHA, ProCredit Bank - BGR, ProCredit
Bank - MKD, ProCredit Bank - ROM, ProCredit Bank - UKR, ProCredit Bank Serbia, ProMujer MEX, Rozgar, Saadhana, Sodeistviye (Pyatigorsk), TFS, Toende RB, Ujjivan, Upper Manya RB, VFC
Age: Young
(5 to 8 Years)
152
24
108
20
ABS-CBN, ACME, ACSI, ADRA - PER, AFK, AgroInvest, Aiyl Bank, Akiba, Al Amana, Al Karama, Al
Majmoua, AMC, Ameen, AMK, AMMACTS, AREGAK, ASDIR, Asociación Arariwa, Asociación Raíz,
AVFS, Azeri Star, Bai Tushum, Banco da Familia, BanGente, BESA, BFL, BG, BSS, BZMF, Capitec
Bank, Caritas, CCA, CDS, CEF, CEOSS, CEVI, CFF, CMEDFI, COAC Acción Rural, COAC MCCH,
COAC Mushuc Runa, COAC Sac Aiet, CODESARROLLO, CRAC Los Andes, Credi Fé, CrediAmigo,
CREDIT, CREDO, CRYSOL, DBACD, DECSI, DEMOS SLC, D-Miro, EcoFuturo FFP, EDPYME Nueva
Visión, EDPYME Proempresa, Emprender, ENLACE, Eshet, FBPMC, FDM, Financiera Edyficar,
FINCA - ARM, FINCA - AZE, FINCA - GEO, FINCA - GTM, FINCA - KOS, FINCA - TZA, FinDev,
FINSOL, FONCRESOL, FOVIDA, Friendship Bridge, FULM, FUNDAHMICRO, FUNDEA, FUNDESER,
Gasha, GK, GU, HOPE, ICC BluSol, ImerCredit, Imkoniyat, IMON, INMAA, Intellekt, JSC Bank
Constanta, KADET, KAMURJ, KBSLAB, KEP, Khushhali Bank, KMB, KMF, KRK Ltd, Lazika Capital,
LOK Microcredit Foundation, Mahasemam - SMILE, Manuela Ramos, MCN, MDSL, MED-Net,
MEMCO, Microserfin, MIDE, MIKRA, MIKROFIN, Mikrofond, Normicro, NovoBanco - MOZ, OBM,
OMO, Opportunity Albania, PALFSI, Partner, PEACE, PRIZMA, ProCredit - MDA, ProCredit NIC, ProCredit Bank - ALB, ProCredit Bank - BIH, ProCredit Bank - GEO, ProCredit Bank - KOS,
ProMujer - PER, Rost, SBACD, SBS, SEAP, SEF-ARM, SFPI, SINERGIJA, SKS, Sodeystviye, SOGESOL,
SPBD, Sunrise, SWAWS, Tamweelcom, Tchuma, UCADE Ambato, UML, UOMB, USTOI, Valiant RB,
Viator, Vital Finance, VRFSBS, Wasasa, Wisdom, Women for Women, XacBank
Age: Mature
( > 8 Years)
260
58
165
37
A1st Valley Bank, ABA, ACBA, ACCOVI, ACEP Senegal, ACLEDA, ACODEP, ACORDE, Actuar
Caldas, Actuar Tolima, ADICH, ADIM, ADMIC, ADOPEM, ADRI, AgroCapital, AGUDESA, Al
Tadamun, Alternativa, AMA, AMRET, AMSSF/MC, Apoyo Integral, ASA, ASEI, ASHI, AYNLA,
Azercredit, Banco ADEMI, Banco Santiago de Libon, Banco Solidario, BancoEstado, BancoSol,
BanCovelo, BanDesarrollo Microempresas, BANEX (ex FINDESA), Bangko Kabayan, Bangko
Mabuhay, Bank Eskhata, BASIX, BCB, BCSC, Bessfa RB, BISWA, BRAC, BURO Bangladesh, Caja
Nor Perú, Caja Popular Mexicana, CamCCUL, Cantilan Bank, CAPA, CAPPED, CARD Bank, CARD
NGO, Cashpor MC, CBMO, CDRO, CEADe, CEAPE Maranhão, Centenary Bank, CEP, CEPESIU,
CEPRODEL, CMAC Arequipa, CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica,
CMAC Maynas, CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC Trujillo, CMM Bogotá, CMM
Medellín, CMS, COAC Jardín Azuayo, COAC San José, CompartamosBanco, Contactar, Coop
Fátima, Coop Universitaria, COOPAC San Martín, COOPAC Santo Cristo, CRECER, Credicoop,
CREDIMUJER, Crediscotia, CReSA, DAMEN, Diaconia, EDAPROSPO, EDPYME Confianza, EDPYME
Crear Arequipa, EDPYME Crear Tacna, EKI, Enda, Equity Bank, ESAF, FADES, FAFIDESS, FAMA
OPDF, FAPE, FASL, Fassil FFP, FATEN, Faulu - UGA, FCBFI, FCC, FDL, FED, FFECC, FICO, FIDERPAC,
FIE FFP, FIELCO, FinAmérica, Financiera Fama, Financiera Familiar, FINCA - ECU, FINCA - HND,
FINCA - MEX, FINCA - MWI, FINCA - NIC, FINCA - PER, FINCA - UGA, FinComún, FINCORP, FMCC,
FMM Bucaramanga, FMM Popayán, FMSD, FODEMI, FOMIC, FONDEP, FONDESURCO, Fonkoze,
Fortaleza FFP, FORUS, FUCEC Togo, FUNBODEM, Fundación Alternativa, Fundación CAMPO,
Fundación Espoir, Fundación León 2000, Fundación MICROS, Fundación Mujer, Fundación
Nieborowski, Fundación Paraguaya, FUNDAMIC, FUNDECOCA, FUNDENUSE, FUNDESPE,
Fundusz Mikro, FUNED, FUNSALDE, Génesis Empresarial, Genesiss, Grameen Bank, Green Bank,
GV, Hermandad de Honduras OPDF, HKL, IDESI Lambayeque, IDF, IMPRO, INECO, INSOTEC,
Interactuar, Interfisa, JCF, Jemeni, Kafo Jiginew, Kashf, Khan Bank, KMBI, Kondo Jigima, K-Rep,
KWFT, LAPO, LPD Ambengan, LPD Bayung Gede, LPD Bedha, LPD Buahan, LPD Celuk, LPD
Ketewel, LPD Kukuh, LPD Kuta, LPD Pecatu, LPD Sibetan, LPD Ubung, Maata-N-Tudu, Mallig
Plains RB, MEDF, MFW, MGBB, MiBanco, MI-BOSPO, Microempresas de Antioquia, Mikro ALDI,
Moznosti, Naara RB, New RB of Victorias, Nirdhan, NOA, NWTF, Nyesigiso, ODEF Financiera
S.A., OLC, OMRO, PADME, PGBB, PRASAC, PRESTANIC, PRIDE - TZA, PRISMA, ProCaja, ProCredit
- BOL, ProCredit - SLV, PRODEM FFP, PRODESA, ProMujer - BOL, ProMujer - NIC, RASS, RB Digos,
RB Lebak, RB Mabitac, RB Oroquieta, RB Solano, RB Sto. Tomas, RB Talisayan, RCPB, RGVN,
Sanghamithra, Sarvodaya Nano Finance, SAT, Sathapana Limited, SED, SEDA, SEEDS, SEF-ZAF,
SHARE, SKDRDP, SMEP, SMSS, Sociedad Cooperativa PADECOMSM, Sonzelle RB, Spandana,
TMSS, TPC, TSKI, TSPI, UNRWA, VEF, VFS, Visión Banco, WAGES, World Relief - HND, WWB Cali,
Zakoura
Charter Type: Bank
(Bank)
46
12
31
3
ACBA, AccessBank, ACLEDA, ADOPEM, Agroinvestbank, Akiba, Banco ADEMI, Banco Solidario,
BancoEstado, BancoSol, BanDesarrollo Microempresas, BanGente, Bank Eskhata, BCSC, BOM,
Capitec Bank, Centenary Bank, CrediAmigo, Crediscotia, Equity Bank, FMFB - AFG, FMFB Pakistan, FMFB - TJK, Grameen Bank, INECO, Khan Bank, KMB, K-Rep, MiBanco, NovoBanco
- MOZ, OBM, OMB, ProCredit - BOL, ProCredit - ECU, ProCredit - NIC, ProCredit - SLV, ProCredit
Bank - ALB, ProCredit Bank - BGR, ProCredit Bank - BIH, ProCredit Bank - GEO, ProCredit Bank KOS, ProCredit Bank - MKD, ProCredit Bank - ROM, ProCredit Bank - UKR, ProCredit Bank Serbia,
XacBank
(0 to 4 Years)
Microfinance Information Exchange, Inc
45
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
PARTICIPATING INSITUTIONS
**
*
SIMPLE PEER GROUPS 2005
Charter Type: Credit Union
(Credit Union)
35
2
21
12
ACEP Senegal, Alternativa, AMMACTS, Caja Popular Mexicana, CamCCUL, CMS, COAC Acción
Rural, COAC Jardín Azuayo, COAC MCCH, COAC Mushuc Runa, COAC Sac Aiet, COAC San
José, CODESARROLLO, Coop Fátima, Coop Universitaria, COOPAC San Martín, COOPAC Santo
Cristo, Credicoop, DEMOS SLC, FFECC, FUCEC Togo, FULM, Intellekt, Jemeni, Kafo Jiginew,
Kondo Jigima, Moznosti, Nachala, NOA, Nyesigiso, RCPB, Rost, SBS, Sodeistviye (Pyatigorsk),
Sodeystviye
Charter Type: NBFI
(Non-Bank Financial Intermediary)
143
55
80
8
ACCOVI, AgroInvest, Aiyl Bank, AMC, AMC de R.L., AMK, AML, AMRET, Apoyo Integral, ASP
Financiera, AVFS, Azercredit, Azeri Star, Bai Tushum, BanCovelo, BANEX (ex FINDESA), BASIX,
BFL, BG, Caja Nor Perú, CAPA, CCA, CDS, CEF, CMAC Arequipa, CMAC Cusco, CMAC Del Santa,
CMAC Huancayo, CMAC Ica, CMAC Maynas, CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC
Trujillo, CompartamosBanco, CRAC Los Andes, CredAgro NBCO, Credi Fé, CREDIT, CREDO,
Crystal, DD Bank, DECSI, EcoFuturo FFP, EDPYME Alternativa, EDPYME Confianza, EDPYME
Crear Arequipa, EDPYME Crear Tacna, EDPYME Efectiva, EDPYME Nueva Visión, EDPYME
Proempresa, EKI, ENLACE, Eshet, FASL, Fassil FFP, FATEN, Faulu - UGA, FIE FFP, FIE Gran Poder,
FIELCO, FinAmérica, Financiera Edyficar, Financiera Familiar, FINCA - AZE, FINCA - ECU, FINCA
- UGA, FINCA - ZMB, FinComún, FINCORP, FinDev, FINSOL, FMCC, Fortaleza FFP, Fundusz Mikro,
Gasha, HKL, Interfisa, KADET, KEP, Khushhali Bank, KMF, Kompanion, KRK Ltd, KWFT, LIDER, LOK
Microcredit Foundation, MCN, MDSL, Metemamen, MFW, MI-BOSPO, Microinvest, Microserfin,
MIKRA, Mikro ALDI, MIKROFIN, Mikrofond, MikroMaliyye Credit, Nirdhan, NMFB, Normicro,
OBS, OISL, OMO, OMRO, Opportunity Albania, Partner, PEACE, PRASAC, PRIZMA, ProCredit GHA, ProCredit - MDA, PRODEM FFP, Rozgar, Sarvodaya Nano Finance, Sathapana Limited,
SED, SEEDS, SEF-ARM, SFPI, SHARE, SINERGIJA, SKS, SMEP, SOGESOL, Spandana, Sunrise,
Tamweelcom, Tchuma, TFS, TPC, Ujjivan, UML, UNRWA, UOMB, USTOI, VFC, Viator, Visión Banco,
VRFSBS, Wasasa, Wisdom
Charter Type: NGO
(Non Government Organization)
222
23
169
30
ABA, ABCRDM, ABS-CBN, ACME, ACODEP, ACORDE, Actuar Caldas, Actuar Tolima, ADICH,
ADIM, ADMIC, ADRA - PER, ADRI, AFK, AgroCapital, AGUDESA, Al Amana, Al Karama, Al
Majmoua, Al Tadamun, AMA, Ameen, AMSSF/MC, APED, AREGAK, ARMP, ASA, ASDIR, ASEI,
ASHI, Asociación Arariwa, Asociación Raíz, AYNLA, Azal, Banco da Familia, Bandhan, Bereke,
BESA, BISWA, BRAC, BRAC - AFG, BSS, BURO Bangladesh, BZMF, CAPPED, CARD NGO, Caritas,
Cashpor MC, CDRO, CEADe, CEAPE Maranhão, CEOSS, CEP, CEPESIU, CEPRODEL, CEVI, CFF,
CMEDFI, CMM Bogotá, CMM Medellín, Contactar, CRECER, CREDIMUJER, CReSA, CRYSOL,
CZWSDA, DAMEN, DBACD, Diaconia, D-Miro, ECLOF - ARM, ECLOF - PHL, EDAPROSPO,
Emprender, Enda, ESAF, FADES, FAFIDESS, FAMA OPDF, FAPE, FBPMC, FCBFI, FCC, FDL, FDM,
FED, FIDERPAC, Financiera Fama, FINCA - AFG, FINCA - ARM, FINCA - DRC, FINCA - GEO,
FINCA - GTM, FINCA - HND, FINCA - KOS, FINCA - MEX, FINCA - MWI, FINCA - NIC, FINCA - PER,
FINCA - TJK, FINCA - TZA, FMM Bucaramanga, FMM Popayán, FMSD, FODEM, FODEMI, FOMIC,
FONCRESOL, FONDEP, FONDESOL, FONDESURCO, Fonkoze, FORUS, FOVIDA, Friendship Bridge,
FUNBODEM, Fundación Alternativa, Fundación CAMPO, Fundación Espoir, Fundación León
2000, Fundación MICROS, Fundación Mujer, Fundación Nieborowski, Fundación Paraguaya,
Fundación San Miguel, FUNDAHMICRO, FUNDAMIC, FUNDEA, FUNDECOCA, FUNDENUSE,
FUNDESER, FUNDESPE, FUNED, FUNSALDE, Génesis Empresarial, Genesiss, GK, Grameen
Mendoza, GU, GV, Hermandad de Honduras OPDF, HOPE, Horizon, Horizonti, ICC BluSol, IDESI
Lambayeque, IDF, ImerCredit, Imkoniyat, IMON, IMPRO, INMAA, INSOTEC, Interactuar, JCF,
JSC Bank Constanta, KAMURJ, KAS, Kasagana-Ka, Kashf, Kazama Grameen, KMBI, KosInvest,
KRUSHI, LAPO, Lazika Capital, Lead Foundation, Maata-N-Tudu, Mahasemam - SMILE, Manuela
Ramos, MBK Ventura, MDF, MEDF, MED-Net, MEMCO, MFI, Microempresas de Antioquia, MIDE,
MLF HUMO, MLF MicroInvest, NMF, NWTF, ODEF Financiera S.A., OLC, PADME, PALFSI, Parwaz,
PRESTANIC, PRIDE - TZA, PRISMA, ProCaja, PRODESA, ProMujer - BOL, ProMujer - MEX, ProMujer
- NIC, ProMujer - PER, RASS, RGVN, Saadhana, Sanghamithra, SAT, SBACD, SEAP, SEDA, SEF-ZAF,
SKDRDP, SMSS, Sociedad Cooperativa PADECOMSM, SPBD, SWAWS, TMSS, TSKI, TSPI, UCADE
Ambato, VEF, VFS, Vital Finance, WAGES, Women for Women, World Relief - HND, WWB Cali,
Zakoura
Charter Type: Rural Bank
(Rural Bank)
41
1
25
15
1st Valley Bank, ACSI, Banco Santiago de Libon, Bangko Kabayan, Bangko Mabuhay, BCB,
Bessfa RB, Cantilan Bank, CARD Bank, CBMO, FICO, Green Bank, Kakum RB, KBSLAB, LPD
Ambengan, LPD Bayung Gede, LPD Bedha, LPD Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh,
LPD Kuta, LPD Pecatu, LPD Sibetan, LPD Ubung, Mallig Plains RB, MGBB, Naara RB, New RB of
Victorias, PGBB, RB Digos, RB Lebak, RB Mabitac, RB Oroquieta, RB Solano, RB Sto. Tomas, RB
Talisayan, Sonzelle RB, Toende RB, Upper Manya RB, Valiant RB
Financial Intermediation: Non FI
(Voluntary Savings/
Total Assets = 0)
289
50
211
28
ABA, ABCRDM, ABS-CBN, ACME, ACODEP, ACORDE, Actuar Caldas, Actuar Tolima, ADICH,
ADIM, ADMIC, ADRA - PER, ADRI, AFK, AgroCapital, AgroInvest, AGUDESA, Aiyl Bank, Al
Amana, Al Karama, Al Majmoua, Al Tadamun, AMA, AMC, AMC de R.L., Ameen, AML, AMSSF/
MC, APED, Apoyo Integral, AREGAK, ARMP, ASDIR, ASEI, Asociación Arariwa, Asociación Raíz,
ASP Financiera, AYNLA, Azal, Azercredit, Azeri Star, Bai Tushum, Banco da Familia, BanCovelo,
Bandhan, BASIX, Bereke, BESA, BFL, BISWA, BRAC - AFG, BSS, BZMF, CAPA, CARD NGO, Caritas,
Cashpor MC, CDRO, CEADe, CEAPE Maranhão, CEF, CEOSS, CEPESIU, CEPRODEL, CEVI, CMM
Bogotá, CMM Medellín, CompartamosBanco, Contactar, CRECER, CredAgro NBCO, Credi
Fé, CrediAmigo, CREDIMUJER, CREDO, CReSA, CRYSOL, Crystal, CZWSDA, DAMEN, DBACD,
Diaconia, D-Miro, ECLOF - ARM, ECLOF - PHL, EDAPROSPO, EDPYME Alternativa, EDPYME
Confianza, EDPYME Crear Arequipa, EDPYME Crear Tacna, EDPYME Efectiva, EDPYME Nueva
Visión, EDPYME Proempresa, EKI, Emprender, Enda, ENLACE, ESAF, FADES, FAFIDESS, FAPE,
FATEN, Faulu - UGA, FBPMC, FCC, FDL, FDM, FED, FIDERPAC, FIE Gran Poder, Financiera Edyficar,
Financiera Fama, FINCA - AFG, FINCA - ARM, FINCA - AZE, FINCA - DRC, FINCA - GEO, FINCA -
46
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2005
GTM, FINCA - HND, FINCA - KOS, FINCA - MEX, FINCA - MWI, FINCA - NIC, FINCA - PER, FINCA
- TJK, FINCA - TZA, FINCA - ZMB, FINCORP, FinDev, FMCC, FMM Bucaramanga, FMM Popayán,
FMSD, FODEM, FODEMI, FOMIC, FONCRESOL, FONDEP, FONDESOL, FONDESURCO, FORUS,
FOVIDA, Friendship Bridge, FUNBODEM, Fundación Alternativa, Fundación CAMPO, Fundación
Espoir, Fundación León 2000, Fundación MICROS, Fundación Mujer, Fundación Nieborowski,
Fundación Paraguaya, Fundación San Miguel, FUNDAHMICRO, FUNDAMIC, FUNDEA,
FUNDECOCA, FUNDENUSE, FUNDESER, FUNDESPE, Fundusz Mikro, FUNED, FUNSALDE,
Génesis Empresarial, Genesiss, GK, Grameen Mendoza, GU, GV, Hermandad de Honduras
OPDF, HOPE, Horizon, Horizonti, ICC BluSol, IDESI Lambayeque, ImerCredit, Imkoniyat, IMON,
IMPRO, INMAA, INSOTEC, Interactuar, JSC Bank Constanta, KADET, KAMURJ, KAS, Kasagana-Ka,
KEP, Khushhali Bank, KMBI, KMF, Kompanion, KosInvest, KRK Ltd, KRUSHI, KWFT, LAPO, Lazika
Capital, Lead Foundation, LIDER, LOK Microcredit Foundation, Maata-N-Tudu, Manuela Ramos,
MBK Ventura, MCN, MDF, MDSL, MEDF, MED-Net, MEMCO, Metemamen, MFI, MFW, MI-BOSPO,
Microempresas de Antioquia, Microinvest, Microserfin, MIDE, MIKRA, Mikro ALDI, MIKROFIN,
Mikrofond, MikroMaliyye Credit, MLF HUMO, MLF MicroInvest, Nachala, NMF, Normicro, OLC,
OMRO, Opportunity Albania, PADME, PALFSI, Partner, Parwaz, PRESTANIC, PRIDE - TZA, PRISMA,
PRIZMA, ProCredit - MDA, PRODESA, ProMujer - BOL, ProMujer - MEX, ProMujer - NIC, ProMujer
- PER, RASS, RGVN, Saadhana, Sanghamithra, Sarvodaya Nano Finance, SAT, Sathapana Limited,
SBACD, SEAP, SED, SEDA, SEF-ARM, SEF-ZAF, SHARE, SINERGIJA, SKDRDP, SKS, SMEP, SMSS,
Sociedad Cooperativa PADECOMSM, SOGESOL, Spandana, Sunrise, SWAWS, Tamweelcom,
TFS, TPC, TSKI, TSPI, UCADE Ambato, Ujjivan, UNRWA, UOMB, USTOI, VEF, VFC, VFS, Viator, Vital
Finance, VRFSBS, Women for Women, World Relief - HND, WWB Cali, Zakoura
Financial Intermediation: Low FI
(Voluntary Savings/Total Assets >
0 and < 20%)
54
4
42
8
ACBA, AccessBank, ACEP Senegal, ADOPEM, AMK, AMMACTS, AMRET, ASA, ASHI, AVFS, BG,
BOM, BRAC, CEP, CFF, CREDIT, DD Bank, DECSI, DEMOS SLC, Eshet, FAMA OPDF, FCBFI, FINCA
- ECU, FMFB - AFG, FMFB - TJK, Gasha, HKL, IDF, Kashf, Kazama Grameen, KMB, Mahasemam SMILE, MGBB, Moznosti, Nirdhan, NMFB, NWTF, OBS, ODEF Financiera S.A., OISL, OMB, OMO,
PEACE, PGBB, PRASAC, ProCaja, Rozgar, SEEDS, SFPI, SPBD, Tchuma, TMSS, Wasasa, Wisdom
Financial Intermediation: High FI
(Voluntary Savings/ Total Assets
≥ 20%)
144
39
73
32
1st Valley Bank, ACCOVI, ACLEDA, ACSI, Agroinvestbank, Akiba, Alternativa, Banco ADEMI,
Banco Santiago de Libon, Banco Solidario, BancoEstado, BancoSol, BanDesarrollo
Microempresas, BANEX (ex FINDESA), BanGente, Bangko Kabayan, Bangko Mabuhay, Bank
Eskhata, BCB, BCSC, Bessfa RB, BURO Bangladesh, Caja Nor Perú, Caja Popular Mexicana,
CamCCUL, Cantilan Bank, Capitec Bank, CAPPED, CARD Bank, CBMO, CCA, CDS, Centenary
Bank, CMAC Arequipa, CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC
Maynas, CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC Trujillo, CMEDFI, CMS, COAC Acción
Rural, COAC Jardín Azuayo, COAC MCCH, COAC Mushuc Runa, COAC Sac Aiet, COAC San José,
CODESARROLLO, Coop Fátima, Coop Universitaria, COOPAC San Martín, COOPAC Santo Cristo,
CRAC Los Andes, Credicoop, Crediscotia, EcoFuturo FFP, Equity Bank, FASL, Fassil FFP, FFECC,
FICO, FIE FFP, FIELCO, FinAmérica, Financiera Familiar, FINCA - UGA, FinComún, FINSOL, FMFB
- Pakistan, Fonkoze, Fortaleza FFP, FUCEC Togo, FULM, Grameen Bank, Green Bank, INECO,
Intellekt, Interfisa, JCF, Jemeni, Kafo Jiginew, Kakum RB, KBSLAB, Khan Bank, Kondo Jigima,
K-Rep, LPD Ambengan, LPD Bayung Gede, LPD Bedha, LPD Buahan, LPD Celuk, LPD Ketewel,
LPD Kukuh, LPD Kuta, LPD Pecatu, LPD Sibetan, LPD Ubung, Mallig Plains RB, MiBanco, Naara
RB, New RB of Victorias, NOA, NovoBanco - MOZ, Nyesigiso, OBM, ProCredit - BOL, ProCredit
- ECU, ProCredit - GHA, ProCredit - NIC, ProCredit - SLV, ProCredit Bank - ALB, ProCredit Bank BGR, ProCredit Bank - BIH, ProCredit Bank - GEO, ProCredit Bank - KOS, ProCredit Bank - MKD,
ProCredit Bank - ROM, ProCredit Bank - UKR, ProCredit Bank Serbia, PRODEM FFP, RB Digos,
RB Lebak, RB Mabitac, RB Oroquieta, RB Solano, RB Sto. Tomas, RB Talisayan, RCPB, Rost, SBS,
Sodeistviye (Pyatigorsk), Sodeystviye, Sonzelle RB, Toende RB, UML, Upper Manya RB, Valiant
RB, Visión Banco, WAGES, XacBank
Methodology: Individual
177
46
114
17
ACBA, AccessBank, ACCOVI, ACLEDA, ACME, ACORDE, Actuar Caldas, Actuar Tolima, ADRI, AFK,
AgroCapital, AgroInvest, Agroinvestbank, AMA, AMC, AMC de R.L., Ameen, ASA, ASDIR, ASP
Financiera, Banco da Familia, Banco Santiago de Libon, BANEX (ex FINDESA), Bank Eskhata,
BCB, BCSC, BESA, BRAC, BZMF, Caja Nor Perú, Caja Popular Mexicana, CamCCUL, CAPA, Capitec
Bank, CBMO, Centenary Bank, CEP, CEPRODEL, CMAC Arequipa, CMAC Cusco, CMAC Del Santa,
CMAC Huancayo, CMAC Ica, CMAC Maynas, CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC
Trujillo, CMEDFI, CMM Bogotá, CMM Medellín, COAC Jardín Azuayo, COAC MCCH, COAC
Mushuc Runa, COAC Sac Aiet, COAC San José, Contactar, Coop Fátima, Coop Universitaria,
COOPAC San Martín, COOPAC Santo Cristo, CRAC Los Andes, CredAgro NBCO, Credi Fé,
CrediAmigo, Credicoop, CREDIMUJER, Crediscotia, Crystal, EDPYME Alternativa, EDPYME
Confianza, EDPYME Crear Arequipa, EDPYME Crear Tacna, EDPYME Efectiva, EDPYME Nueva
Visión, EDPYME Proempresa, Equity Bank, Fassil FFP, FED, FIDERPAC, FIE FFP, FIE Gran Poder,
FIELCO, FinAmérica, Financiera Fama, Financiera Familiar, FINCA - AFG, FINCA - GEO, FINCORP,
FMM Bucaramanga, FMM Popayán, FMSD, FODEM, FODEMI, FOMIC, Fortaleza FFP, FULM,
Fundación CAMPO, Fundación León 2000, Fundación Nieborowski, FUNDECOCA, Genesiss,
Green Bank, HKL, ICC BluSol, IDESI Lambayeque, ImerCredit, IMPRO, INECO, INSOTEC, Intellekt,
Interactuar, Interfisa, Kafo Jiginew, Khan Bank, KMB, KosInvest, KRK Ltd, LPD Ambengan, LPD
Bayung Gede, LPD Bedha, LPD Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh, LPD Kuta, LPD
Pecatu, LPD Sibetan, LPD Ubung, MCN, MDF, MEMCO, MiBanco, Microempresas de Antioquia,
Microserfin, Mikrofond, Nachala, New RB of Victorias, NovoBanco - MOZ, OBM, OBS, ODEF
Financiera S.A., Partner, PRESTANIC, ProCaja, ProCredit - BOL, ProCredit - ECU, ProCredit - GHA,
ProCredit - MDA, ProCredit - NIC, ProCredit Bank - ALB, ProCredit Bank - BGR, ProCredit Bank BIH, ProCredit Bank - GEO, ProCredit Bank - KOS, ProCredit Bank - MKD, ProCredit Bank - ROM,
Microfinance Information Exchange, Inc
47
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2005
ProCredit Bank - UKR, ProCredit Bank Serbia, PRODESA, RB Digos, RB Lebak, RB Mabitac, RB
Oroquieta, RB Solano, RB Sto. Tomas, Rost, SBS, Sociedad Cooperativa PADECOMSM, Sodeistviye
(Pyatigorsk), Sodeystviye, SOGESOL, Sunrise, TFS, Valiant RB, Visión Banco, WWB Cali
Methodology: Individual/
Solidarity
(Individual & Solidarity;
or Individual, Solidarity
& Village Banking)
209
36
148
25
1st Valley Bank, ABA, ABS-CBN, ACEP Senegal, ACODEP, ACSI, ADICH, ADOPEM, AGUDESA,
Aiyl Bank, Akiba, Al Amana, Al Karama, Al Majmoua, AML, AMRET, AMSSF/MC, Apoyo
Integral, AREGAK, ARMP, ASEI, Asociación Raíz, AVFS, AYNLA, Azal, Azercredit, Azeri Star, Bai
Tushum, Banco ADEMI, Banco Solidario, BancoEstado, BancoSol, BanCovelo, BanDesarrollo
Microempresas, BanGente, Bangko Kabayan, Bangko Mabuhay, BASIX, Bereke, BOM, BURO
Bangladesh, Cantilan Bank, CAPPED, CARD Bank, CCA, CDS, CEADe, CEF, CEOSS, CEPESIU, CMS,
COAC Acción Rural, CODESARROLLO, CompartamosBanco, CREDIT, CREDO, CZWSDA, DBACD,
DECSI, DEMOS SLC, D-Miro, ECLOF - PHL, EcoFuturo FFP, EKI, Emprender, Enda, ENLACE, ESAF,
Eshet, FADES, FAFIDESS, FAMA OPDF, FAPE, FASL, FATEN, Faulu - UGA, FBPMC, FCBFI, FCC, FDL,
FDM, FFECC, FICO, Financiera Edyficar, FINCA - ARM, FINCA - ECU, FINCA - HND, FINCA - NIC,
FinComún, FinDev, FINSOL, FMCC, FMFB - AFG, FMFB - Pakistan, FMFB - TJK, FONCRESOL,
FONDEP, FONDESOL, FONDESURCO, Fonkoze, FORUS, FOVIDA, FUCEC Togo, FUNBODEM,
Fundación Mujer, Fundación Paraguaya, FUNDAHMICRO, FUNDAMIC, FUNDEA, FUNDENUSE,
FUNDESER, FUNDESPE, Fundusz Mikro, FUNSALDE, Gasha, Grameen Mendoza, Hermandad
de Honduras OPDF, HOPE, Horizon, Horizonti, IMON, INMAA, JCF, Jemeni, JSC Bank Constanta,
Kakum RB, Kasagana-Ka, Kashf, KBSLAB, KEP, Khushhali Bank, KMF, Kompanion, Kondo Jigima,
K-Rep, KWFT, Lazika Capital, Lead Foundation, LIDER, LOK Microcredit Foundation, Mallig
Plains RB, MED-Net, MFW, MI-BOSPO, Microinvest, MIDE, MIKRA, Mikro ALDI, MIKROFIN, MLF
HUMO, MLF MicroInvest, Moznosti, Naara RB, Nirdhan, NMF, NMFB, NOA, Normicro, NWTF,
Nyesigiso, OISL, OLC, OMB, OMO, OMRO, Opportunity Albania, PADME, PALFSI, PEACE, PGBB,
PRASAC, PRIDE - TZA, PRISMA, PRIZMA, ProCredit - SLV, PRODEM FFP, RB Talisayan, RCPB, RGVN,
Rozgar, SAT, Sathapana Limited, SBACD, SEAP, SEF-ARM, SFPI, SHARE, SINERGIJA, SKS, Sonzelle
RB, Spandana, Tamweelcom, Tchuma, Toende RB, TPC, TSPI, UML, Upper Manya RB, VEF, Viator,
Vital Finance, VRFSBS, WAGES, Wasasa, Wisdom, Women for Women, World Relief - HND,
XacBank, Zakoura
Methodology: Solidarity
40
2
26
12
Al Tadamun, APED, ASHI, Bandhan, Bessfa RB, BG, BSS, CARD NGO, Cashpor MC, CEAPE
Maranhão, CEVI, CFF, CReSA, CRYSOL, DAMEN, DD Bank, ECLOF - ARM, Fundación Alternativa,
Fundación San Miguel, GK, Grameen Bank, GV, IDF, Imkoniyat, KAMURJ, KMBI, LAPO, MaataN-Tudu, Mahasemam - SMILE, MDSL, MGBB, MikroMaliyye Credit, Parwaz, Saadhana, SEF-ZAF,
SMEP, SWAWS, TMSS, UNRWA, USTOI
Methodology: Village Banking
61
9
38
14
ABCRDM, ADIM, ADMIC, ADRA - PER, Alternativa, AMK, AMMACTS, Asociación Arariwa, BFL,
BISWA, BRAC - AFG, Caritas, CDRO, CRECER, Diaconia, EDAPROSPO, FINCA - AZE, FINCA - DRC,
FINCA - GTM, FINCA - KOS, FINCA - MEX, FINCA - MWI, FINCA - PER, FINCA - TJK, FINCA - TZA,
FINCA - UGA, FINCA - ZMB, Friendship Bridge, Fundación Espoir, Fundación MICROS, FUNED,
Génesis Empresarial, GU, KADET, KAS, Kazama Grameen, KRUSHI, Manuela Ramos, MBK
Ventura, MEDF, Metemamen, MFI, ProMujer - BOL, ProMujer - MEX, ProMujer - NIC, ProMujer
- PER, RASS, Sanghamithra, Sarvodaya Nano Finance, SED, SEDA, SEEDS, SKDRDP, SMSS, SPBD,
TSKI, UCADE Ambato, Ujjivan, UOMB, VFC, VFS
Outreach: Small
(Number of Borrowers < 10,000)
221
29
155
37
AccessBank, ACCOVI, ACME, ACORDE, Actuar Caldas, Actuar Tolima, ADICH, ADIM, ADRA - PER,
ADRI, AFK, AgroCapital, Agroinvestbank, AGUDESA, Al Karama, Al Majmoua, Alternativa,
AMA, AMC, AMC de R.L., Ameen, APED, ASDIR, ASEI, Asociación Arariwa, ASP Financiera, AVFS,
AYNLA, Azal, Azercredit, Azeri Star, Bai Tushum, Banco da Familia, Bangko Kabayan, Bangko
Mabuhay, Bank Eskhata, BCB, Bereke, BESA, BOM, BZMF, CAPA, CAPPED, CBMO, CDRO, CDS,
CEADe, CEF, CEPESIU, CFF, CMEDFI, COAC Acción Rural, COAC MCCH, COAC Sac Aiet, COAC
San José, Contactar, Coop Fátima, COOPAC San Martín, COOPAC Santo Cristo, CRAC Los
Andes, CredAgro NBCO, Credicoop, CREDIMUJER, CREDO, CRYSOL, Crystal, CZWSDA, DEMOS
SLC, ECLOF - ARM, ECLOF - PHL, EDAPROSPO, EDPYME Alternativa, EDPYME Crear Tacna,
EDPYME Nueva Visión, Emprender, FAFIDESS, FAPE, FASL, Fassil FFP, FATEN, FCBFI, FCC, FDM,
FFECC, FICO, FIDERPAC, FIE Gran Poder, FINCA - ARM, FINCA - KOS, FINCA - PER, FINCA - TJK,
FINCORP, FinDev, FMFB - AFG, FMFB - TJK, FODEM, FODEMI, FOMIC, FONCRESOL, FONDESOL,
FONDESURCO, Fortaleza FFP, FOVIDA, Friendship Bridge, FULM, FUNBODEM, Fundación
Alternativa, Fundación CAMPO, Fundación León 2000, Fundación MICROS, Fundación Mujer,
Fundación Paraguaya, Fundación San Miguel, FUNDAMIC, FUNDEA, FUNDECOCA, FUNDESER,
FUNDESPE, FUNSALDE, Gasha, Genesiss, Grameen Mendoza, Hermandad de Honduras OPDF,
HKL, HOPE, Horizon, Horizonti, ICC BluSol, IDESI Lambayeque, ImerCredit, Imkoniyat, IMPRO,
INMAA, INSOTEC, Intellekt, Jemeni, Kakum RB, KAMURJ, Kasagana-Ka, KEP, KosInvest, KRK Ltd,
Lazika Capital, LIDER, LOK Microcredit Foundation, LPD Ambengan, LPD Bayung Gede, LPD
Bedha, LPD Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh, LPD Kuta, LPD Pecatu, LPD Sibetan,
LPD Ubung, Maata-N-Tudu, Manuela Ramos, MCN, MDF, MDSL, MEDF, MEMCO, Metemamen,
Microinvest, Microserfin, MIDE, MIKRA, Mikro ALDI, Mikrofond, MikroMaliyye Credit, MLF
HUMO, MLF MicroInvest, Moznosti, Naara RB, Nachala, New RB of Victorias, NMF, NMFB, NOA,
Normicro, OBS, OLC, OMRO, Opportunity Albania, Parwaz, PRESTANIC, ProCaja, ProCredit GHA, RB Digos, RB Lebak, RB Mabitac, RB Oroquieta, RB Solano, RB Sto. Tomas, Rost, Rozgar, SBS,
SEAP, SED, SEF-ARM, SINERGIJA, Sociedad Cooperativa PADECOMSM, Sodeistviye (Pyatigorsk),
Sodeystviye, SOGESOL, Sonzelle RB, SPBD, Tchuma, TFS, Toende RB, UCADE Ambato, Ujjivan,
Upper Manya RB, USTOI, Valiant RB, VEF, Viator, VRFSBS, WAGES, Women for Women
Outreach: Medium
(Number of Borrowers > 10,000
and ≤ 30,000)
139
29
98
12
1st Valley Bank, ABCRDM, ACEP Senegal, ADMIC, AgroInvest, Akiba, Al Tadamun, AMSSF/MC,
Apoyo Integral, AREGAK, ARMP, ASHI, Asociación Raíz, Banco Santiago de Libon, BanCovelo,
BANEX (ex FINDESA), BanGente, Bessfa RB, BG, BSS, Caja Nor Perú, Cantilan Bank, CARD Bank,
48
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2005
Caritas, CCA, CEAPE Maranhão, CEOSS, CEPRODEL, CEVI, CMAC Del Santa, CMAC Ica, CMAC
Maynas, CMAC Paita, CMAC Tacna, CMM Medellín, COAC Jardín Azuayo, COAC Mushuc Runa,
CODESARROLLO, CREDIT, CReSA, DAMEN, DD Bank, Diaconia, D-Miro, EcoFuturo FFP, EDPYME
Confianza, EDPYME Crear Arequipa, EDPYME Efectiva, EDPYME Proempresa, EKI, Enda, ENLACE,
Eshet, FADES, FAMA OPDF, Faulu - UGA, FED, FIELCO, FinAmérica, FINCA - AFG, FINCA - AZE,
FINCA - DRC, FINCA - GEO, FINCA - GTM, FINCA - HND, FINCA - MWI, FINCA - NIC, FINCA - ZMB,
FINSOL, FMCC, FMFB - Pakistan, Fonkoze, FORUS, FUCEC Togo, Fundación Espoir, Fundación
Nieborowski, FUNDAHMICRO, FUNDENUSE, Fundusz Mikro, FUNED, GU, IMON, INECO,
Interactuar, JSC Bank Constanta, KADET, Kazama Grameen, KBSLAB, KMF, Kompanion, Kondo
Jigima, KRUSHI, Mallig Plains RB, MBK Ventura, MED-Net, MFW, MI-BOSPO, Microempresas
de Antioquia, MIKROFIN, NovoBanco - MOZ, Nyesigiso, OBM, ODEF Financiera S.A., OISL,
OMB, PALFSI, Partner, PEACE, PRISMA, PRIZMA, ProCredit - ECU, ProCredit - MDA, ProCredit
Bank - ALB, ProCredit Bank - BIH, ProCredit Bank - MKD, ProCredit Bank - ROM, ProCredit Bank
- UKR, PRODESA, ProMujer - MEX, ProMujer - NIC, ProMujer - PER, RASS, RB Talisayan, RGVN,
Sathapana Limited, SBACD, SEDA, SFPI, SMEP, SMSS, Sunrise, Tamweelcom, UNRWA, UOMB,
VFC, Vital Finance, Wasasa, Wisdom, World Relief - HND
Outreach: Large
(Number of Borrowers > 30,000)
127
35
73
19
ABA, ABS-CBN, ACBA, ACLEDA, ACODEP, ACSI, ADOPEM, Aiyl Bank, Al Amana, AMK, AML,
AMMACTS, AMRET, ASA, Banco ADEMI, Banco Solidario, BancoEstado, BancoSol, BanDesarrollo
Microempresas, Bandhan, BASIX, BCSC, BFL, BISWA, BRAC, BRAC - AFG, BURO Bangladesh, Caja
Popular Mexicana, CamCCUL, Capitec Bank, CARD NGO, Cashpor MC, Centenary Bank, CEP,
CMAC Arequipa, CMAC Cusco, CMAC Huancayo, CMAC Sullana, CMAC Trujillo, CMM Bogotá,
CMS, CompartamosBanco, Coop Universitaria, CRECER, Credi Fé, CrediAmigo, Crediscotia,
DBACD, DECSI, Equity Bank, ESAF, FBPMC, FDL, FIE FFP, Financiera Edyficar, Financiera Fama,
Financiera Familiar, FINCA - ECU, FINCA - MEX, FINCA - TZA, FINCA - UGA, FinComún, FMM
Bucaramanga, FMM Popayán, FMSD, FONDEP, Génesis Empresarial, GK, Grameen Bank, Green
Bank, GV, IDF, Interfisa, JCF, Kafo Jiginew, KAS, Kashf, Khan Bank, Khushhali Bank, KMB, KMBI,
K-Rep, KWFT, LAPO, Lead Foundation, Mahasemam - SMILE, MFI, MGBB, MiBanco, Nirdhan,
NWTF, OMO, PADME, PGBB, PRASAC, PRIDE - TZA, ProCredit - BOL, ProCredit - NIC, ProCredit SLV, ProCredit Bank - BGR, ProCredit Bank - GEO, ProCredit Bank - KOS, ProCredit Bank Serbia,
PRODEM FFP, ProMujer - BOL, RCPB, Saadhana, Sanghamithra, Sarvodaya Nano Finance, SAT,
SEEDS, SEF-ZAF, SHARE, SKDRDP, SKS, Spandana, SWAWS, TMSS, TPC, TSKI, TSPI, UML, VFS, Visión
Banco, WWB Cali, XacBank, Zakoura
Profit Status: Profit
173
44
107
22
1st Valley Bank, ACBA, AccessBank, ACCOVI, ACLEDA, ACSI, ADOPEM, AgroInvest,
Agroinvestbank, Akiba, AMC de R.L., AMK, AML, AMRET, Apoyo Integral, ASP Financiera, AVFS,
Banco ADEMI, Banco Santiago de Libon, Banco Solidario, BancoEstado, BancoSol, BanCovelo,
BanDesarrollo Microempresas, BanGente, Bangko Kabayan, Bangko Mabuhay, Bank Eskhata,
BASIX, BCB, BCSC, Bessfa RB, BFL, BG, BOM, Caja Nor Perú, Cantilan Bank, Capitec Bank,
CARD Bank, CBMO, CDS, Centenary Bank, CompartamosBanco, CRAC Los Andes, Credi Fé,
CrediAmigo, Crediscotia, CREDIT, DD Bank, DECSI, EcoFuturo FFP, EDPYME Alternativa, EDPYME
Confianza, EDPYME Crear Arequipa, EDPYME Crear Tacna, EDPYME Efectiva, EDPYME Nueva
Visión, EDPYME Proempresa, ENLACE, Equity Bank, Eshet, FASL, Fassil FFP, Faulu - UGA, FICO, FIE
FFP, FIE Gran Poder, FIELCO, FinAmérica, Financiera Edyficar, Financiera Familiar, FINCA - ECU,
FINCA - UGA, FINCA - ZMB, FinComún, FINCORP, FMFB - AFG, FMFB - Pakistan, FMFB - TJK,
Fortaleza FFP, Gasha, Grameen Bank, Green Bank, HKL, INECO, Interfisa, KADET, Kakum RB,
KBSLAB, Khan Bank, Khushhali Bank, KMB, K-Rep, KWFT, LPD Ambengan, LPD Bayung Gede,
LPD Bedha, LPD Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh, LPD Kuta, LPD Pecatu, LPD
Sibetan, LPD Ubung, Mallig Plains RB, MCN, MDSL, Metemamen, MGBB, MiBanco, Microinvest,
Microserfin, Mikrofond, Naara RB, New RB of Victorias, Nirdhan, NMFB, NovoBanco - MOZ, OBM,
OBS, OISL, OMB, OMO, OMRO, PEACE, PGBB, ProCredit - BOL, ProCredit - ECU, ProCredit - GHA,
ProCredit - MDA, ProCredit - NIC, ProCredit - SLV, ProCredit Bank - ALB, ProCredit Bank - BGR,
ProCredit Bank - BIH, ProCredit Bank - GEO, ProCredit Bank - KOS, ProCredit Bank - MKD,
ProCredit Bank - ROM, ProCredit Bank - UKR, ProCredit Bank Serbia, PRODEM FFP, RB Digos,
RB Lebak, RB Mabitac, RB Oroquieta, RB Solano, RB Sto. Tomas, RB Talisayan, Rozgar, Sarvodaya
Nano Finance, Sathapana Limited, SED, SEF-ARM, SFPI, SHARE, SKS, SOGESOL, Sonzelle RB,
Spandana, TFS, Toende RB, TPC, Ujjivan, UML, Upper Manya RB, Valiant RB, VFC, Visión Banco,
Wasasa, Wisdom, XacBank
Profit Status: Not for Profit
314
49
219
46
ABA, ABCRDM, ABS-CBN, ACEP Senegal, ACME, ACODEP, ACORDE, Actuar Caldas, Actuar
Tolima, ADICH, ADIM, ADMIC, ADRA - PER, ADRI, AFK, AgroCapital, AGUDESA, Aiyl Bank, Al
Amana, Al Karama, Al Majmoua, Al Tadamun, Alternativa, AMA, AMC, Ameen, AMMACTS,
AMSSF/MC, APED, AREGAK, ARMP, ASA, ASDIR, ASEI, ASHI, Asociación Arariwa, Asociación
Raíz, AYNLA, Azal, Azercredit, Azeri Star, Bai Tushum, Banco da Familia, Bandhan, BANEX
(ex FINDESA), Bereke, BESA, BISWA, BRAC, BRAC - AFG, BSS, BURO Bangladesh, BZMF, Caja
Popular Mexicana, CamCCUL, CAPA, CAPPED, CARD NGO, Caritas, Cashpor MC, CCA, CDRO,
CEADe, CEAPE Maranhão, CEF, CEOSS, CEP, CEPESIU, CEPRODEL, CEVI, CFF, CMAC Arequipa,
CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC Maynas, CMAC Paita, CMAC
Sullana, CMAC Tacna, CMAC Trujillo, CMEDFI, CMM Bogotá, CMM Medellín, CMS, COAC Acción
Rural, COAC Jardín Azuayo, COAC MCCH, COAC Mushuc Runa, COAC Sac Aiet, COAC San José,
CODESARROLLO, Contactar, Coop Fátima, Coop Universitaria, COOPAC San Martín, COOPAC
Santo Cristo, CRECER, CredAgro NBCO, Credicoop, CREDIMUJER, CREDO, CReSA, CRYSOL,
Crystal, CZWSDA, DAMEN, DBACD, DEMOS SLC, Diaconia, D-Miro, ECLOF - ARM, ECLOF - PHL,
EDAPROSPO, EKI, Emprender, Enda, ESAF, FADES, FAFIDESS, FAMA OPDF, FAPE, FATEN, FBPMC,
FCBFI, FCC, FDL, FDM, FED, FFECC, FIDERPAC, Financiera Fama, FINCA - AFG, FINCA - ARM,
FINCA - AZE, FINCA - DRC, FINCA - GEO, FINCA - GTM, FINCA - HND, FINCA - KOS, FINCA -
Microfinance Information Exchange, Inc
49
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2005
MEX, FINCA - MWI, FINCA - NIC, FINCA - PER, FINCA - TJK, FINCA - TZA, FinDev, FINSOL, FMCC,
FMM Bucaramanga, FMM Popayán, FMSD, FODEM, FODEMI, FOMIC, FONCRESOL, FONDEP,
FONDESOL, FONDESURCO, Fonkoze, FORUS, FOVIDA, Friendship Bridge, FUCEC Togo, FULM,
FUNBODEM, Fundación Alternativa, Fundación CAMPO, Fundación Espoir, Fundación León
2000, Fundación MICROS, Fundación Mujer, Fundación Nieborowski, Fundación Paraguaya,
Fundación San Miguel, FUNDAHMICRO, FUNDAMIC, FUNDEA, FUNDECOCA, FUNDENUSE,
FUNDESER, FUNDESPE, Fundusz Mikro, FUNED, FUNSALDE, Génesis Empresarial, Genesiss, GK,
Grameen Mendoza, GU, GV, Hermandad de Honduras OPDF, HOPE, Horizon, Horizonti, ICC
BluSol, IDESI Lambayeque, IDF, ImerCredit, Imkoniyat, IMON, IMPRO, INMAA, INSOTEC, Intellekt,
Interactuar, JCF, Jemeni, JSC Bank Constanta, Kafo Jiginew, KAMURJ, KAS, Kasagana-Ka, Kashf,
Kazama Grameen, KEP, KMBI, KMF, Kompanion, Kondo Jigima, KosInvest, KRK Ltd, KRUSHI,
LAPO, Lazika Capital, Lead Foundation, LIDER, LOK Microcredit Foundation, Maata-N-Tudu,
Mahasemam - SMILE, Manuela Ramos, MBK Ventura, MDF, MEDF, MED-Net, MEMCO, MFI, MFW,
MI-BOSPO, Microempresas de Antioquia, MIDE, MIKRA, Mikro ALDI, MIKROFIN, MikroMaliyye
Credit, MLF HUMO, MLF MicroInvest, Moznosti, Nachala, NMF, NOA, Normicro, NWTF, Nyesigiso,
ODEF Financiera S.A., OLC, Opportunity Albania, PADME, PALFSI, Partner, Parwaz, PRASAC,
PRESTANIC, PRIDE - TZA, PRISMA, PRIZMA, ProCaja, PRODESA, ProMujer - BOL, ProMujer - MEX,
ProMujer - NIC, ProMujer - PER, RASS, RCPB, RGVN, Rost, Saadhana, Sanghamithra, SAT, SBACD,
SBS, SEAP, SEDA, SEEDS, SEF-ZAF, SINERGIJA, SKDRDP, SMEP, SMSS, Sociedad Cooperativa
PADECOMSM, Sodeistviye (Pyatigorsk), Sodeystviye, SPBD, Sunrise, SWAWS, Tamweelcom,
Tchuma, TMSS, TSKI, TSPI, UCADE Ambato, UNRWA, UOMB, USTOI, VEF, VFS, Viator, Vital Finance,
VRFSBS, WAGES, Women for Women, World Relief - HND, WWB Cali, Zakoura
Region: Africa
(sub-Saharan Africa)
69
0
52
17
ACEP Senegal, ACSI, Akiba, APED, AVFS, Bessfa RB, BG, BOM, CamCCUL, Capitec Bank, CAPPED,
CCA, CDS, Centenary Bank, CFF, CMS, DECSI, Equity Bank, Eshet, FASL, Faulu - UGA, FCC, FDM,
FINCA - DRC, FINCA - MWI, FINCA - TZA, FINCA - UGA, FINCA - ZMB, FINCORP, FUCEC Togo,
Gasha, Jemeni, KADET, Kafo Jiginew, Kakum RB, Kondo Jigima, K-Rep, KWFT, LAPO, MaataN-Tudu, MDSL, MED-Net, Metemamen, Naara RB, NovoBanco - MOZ, Nyesigiso, OISL, OMO,
PADME, PEACE, PRIDE - TZA, ProCredit - GHA, RCPB, SAT, SEAP, SEDA, SEF-ZAF, SFPI, SMEP,
Sonzelle RB, Tchuma, Toende RB, UML, UOMB, Upper Manya RB, Vital Finance, WAGES, Wasasa,
Wisdom
Region: Asia
(South & East Asia)
117
7
79
31
ACBA, AccessBank, AFK, AgroInvest, Agroinvestbank, Aiyl Bank, Alternativa, AREGAK,
Azercredit, Azeri Star, Bai Tushum, Bank Eskhata, Bereke, BESA, BZMF, CAPA, CEF, CredAgro
NBCO, CREDO, Crystal, DEMOS SLC, ECLOF - ARM, EKI, FFECC, FINCA - ARM, FINCA - AZE, FINCA
- GEO, FINCA - KOS, FINCA - TJK, FinDev, FMCC, FMFB - TJK, FORUS, FULM, Fundusz Mikro,
HOPE, Horizon, Horizonti, ImerCredit, Imkoniyat, IMON, INECO, Intellekt, JSC Bank Constanta,
KAMURJ, KEP, Khan Bank, KMB, KMF, Kompanion, KosInvest, KRK Ltd, Lazika Capital, LIDER,
LOK Microcredit Foundation, MDF, MI-BOSPO, Microinvest, MIKRA, Mikro ALDI, MIKROFIN,
Mikrofond, MikroMaliyye Credit, MLF HUMO, MLF MicroInvest, Moznosti, Nachala, NOA,
Normicro, OBM, OBS, OMRO, Opportunity Albania, Partner, PRIZMA, ProCredit - MDA, ProCredit
Bank - ALB, ProCredit Bank - BGR, ProCredit Bank - BIH, ProCredit Bank - GEO, ProCredit Bank KOS, ProCredit Bank - MKD, ProCredit Bank - ROM, ProCredit Bank - UKR, ProCredit Bank Serbia,
Rost, SBS, SEF-ARM, SINERGIJA, Sodeistviye (Pyatigorsk), Sodeystviye, Sunrise, TFS, USTOI,
Viator, VRFSBS, Women for Women, XacBank
Region: ECA
(Eastern Europe & Central Asia)
98
15
68
15
ACBA, AccessBank, AFK, AgroInvest, Agroinvestbank, Aiyl Bank, Alternativa, AREGAK,
Azercredit, Azeri Star, Bai Tushum, Bank Eskhata, Bereke, BESA, BZMF, CAPA, CEF, CredAgro
NBCO, CREDO, Crystal, DEMOS SLC, ECLOF - ARM, EKI, FFECC, FINCA - ARM, FINCA - AZE, FINCA
- GEO, FINCA - KOS, FINCA - TJK, FinDev, FMCC, FMFB - TJK, FORUS, FULM, Fundusz Mikro,
HOPE, Horizon, Horizonti, ImerCredit, Imkoniyat, IMON, INECO, Intellekt, JSC Bank Constanta,
KAMURJ, KEP, Khan Bank, KMB, KMF, Kompanion, KosInvest, KRK Ltd, Lazika Capital, LIDER,
LOK Microcredit Foundation, MDF, MI-BOSPO, Microinvest, MIKRA, Mikro ALDI, MIKROFIN,
Mikrofond, MikroMaliyye Credit, MLF HUMO, MLF MicroInvest, Moznosti, Nachala, NOA,
Normicro, OBM, OBS, OMRO, Opportunity Albania, Partner, PRIZMA, ProCredit - MDA, ProCredit
Bank - ALB, ProCredit Bank - BGR, ProCredit Bank - BIH, ProCredit Bank - GEO, ProCredit Bank KOS, ProCredit Bank - MKD, ProCredit Bank - ROM, ProCredit Bank - UKR, ProCredit Bank Serbia,
Rost, SBS, SEF-ARM, SINERGIJA, Sodeistviye (Pyatigorsk), Sodeystviye, Sunrise, TFS, USTOI,
Viator, VRFSBS, Women for Women, XacBank
Region: LAC
(Latin America & the Caribbean)
179
70
107
2
ACCOVI, ACME, ACODEP, ACORDE, Actuar Caldas, Actuar Tolima, ADICH, ADIM, ADMIC,
ADOPEM, ADRA - PER, ADRI, AgroCapital, AGUDESA, AMA, AMC de R.L., Apoyo Integral, ASDIR,
ASEI, Asociación Arariwa, Asociación Raíz, ASP Financiera, AYNLA, Banco ADEMI, Banco da
Familia, Banco Solidario, BancoEstado, BancoSol, BanCovelo, BanDesarrollo Microempresas,
BANEX (ex FINDESA), BanGente, BCSC, Caja Nor Perú, Caja Popular Mexicana, Caritas, CDRO,
CEADe, CEAPE Maranhão, CEPESIU, CEPRODEL, CMAC Arequipa, CMAC Cusco, CMAC Del Santa,
CMAC Huancayo, CMAC Ica, CMAC Maynas, CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC
Trujillo, CMM Bogotá, CMM Medellín, COAC Acción Rural, COAC Jardín Azuayo, COAC MCCH,
COAC Mushuc Runa, COAC Sac Aiet, COAC San José, CODESARROLLO, CompartamosBanco,
Contactar, Coop Fátima, Coop Universitaria, COOPAC San Martín, COOPAC Santo Cristo, CRAC
Los Andes, CRECER, Credi Fé, CrediAmigo, Credicoop, CREDIMUJER, Crediscotia, CRYSOL,
Diaconia, D-Miro, EcoFuturo FFP, EDAPROSPO, EDPYME Alternativa, EDPYME Confianza,
EDPYME Crear Arequipa, EDPYME Crear Tacna, EDPYME Efectiva, EDPYME Nueva Visión,
EDPYME Proempresa, Emprender, ENLACE, FADES, FAFIDESS, FAMA OPDF, FAPE, Fassil FFP, FDL,
FED, FIDERPAC, FIE FFP, FIE Gran Poder, FIELCO, FinAmérica, Financiera Edyficar, Financiera
Fama, Financiera Familiar, FINCA - ECU, FINCA - GTM, FINCA - HND, FINCA - MEX, FINCA - NIC,
FINCA - PER, FinComún, FINSOL, FMM Bucaramanga, FMM Popayán, FMSD, FODEM, FODEMI,
50
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2005
FOMIC, FONCRESOL, FONDESOL, FONDESURCO, Fonkoze, Fortaleza FFP, FOVIDA, Friendship
Bridge, FUNBODEM, Fundación Alternativa, Fundación CAMPO, Fundación Espoir, Fundación
León 2000, Fundación MICROS, Fundación Mujer, Fundación Nieborowski, Fundación
Paraguaya, Fundación San Miguel, FUNDAHMICRO, FUNDAMIC, FUNDEA, FUNDECOCA,
FUNDENUSE, FUNDESER, FUNDESPE, FUNED, FUNSALDE, Génesis Empresarial, Genesiss,
Grameen Mendoza, Hermandad de Honduras OPDF, ICC BluSol, IDESI Lambayeque, IMPRO,
INSOTEC, Interactuar, Interfisa, Manuela Ramos, MCN, MiBanco, Microempresas de Antioquia,
Microserfin, MIDE, ODEF Financiera S.A., OLC, PRESTANIC, PRISMA, ProCaja, ProCredit - BOL,
ProCredit - ECU, ProCredit - NIC, ProCredit - SLV, PRODEM FFP, PRODESA, ProMujer - BOL,
ProMujer - MEX, ProMujer - NIC, ProMujer - PER, Sociedad Cooperativa PADECOMSM,
SOGESOL, UCADE Ambato, Visión Banco, World Relief - HND, WWB Cali
Region: MENA
(Middle East & North Africa)
24
1
20
3
ABA, Al Amana, Al Karama, Al Majmoua, Al Tadamun, AMC, Ameen, AMSSF/MC, Azal, CEOSS,
DBACD, Enda, FATEN, FBPMC, FONDEP, INMAA, Lead Foundation, MEMCO, MFW, NMF, SBACD,
Tamweelcom, UNRWA, Zakoura
Scale: Small
(GLP in USD, LAC < 4,000,000;
Others < 2,000,000)
170
13
127
30
ABCRDM, ACME, Actuar Caldas, Actuar Tolima, ADICH, ADIM, ADRA - PER, AGUDESA, Al
Karama, Al Tadamun, Alternativa, AMA, APED, ASDIR, ASEI, ASHI, Asociación Arariwa, ASP
Financiera, AVFS, AYNLA, Azal, Azeri Star, Banco da Familia, Banco Santiago de Libon, Bereke,
Bessfa RB, BG, BOM, CAPPED, CDRO, CEADe, CEAPE Maranhão, CEF, CEOSS, CEPESIU, CEVI,
CFF, CMEDFI, COAC Acción Rural, COAC MCCH, Contactar, CRAC Los Andes, CREDIMUJER,
CReSA, CRYSOL, Crystal, CZWSDA, DAMEN, DD Bank, ECLOF - ARM, ECLOF - PHL, EDAPROSPO,
EDPYME Alternativa, EDPYME Efectiva, Emprender, ENLACE, Eshet, FAFIDESS, FAMA OPDF,
FAPE, FCBFI, FCC, FDM, FIDERPAC, FINCA - AFG, FINCA - DRC, FINCA - GTM, FINCA - HND, FINCA
- NIC, FINCA - PER, FINCA - TJK, FINCA - ZMB, FinDev, FODEM, FODEMI, FOMIC, FONCRESOL,
FONDESOL, FONDESURCO, Fonkoze, FOVIDA, Friendship Bridge, FUNBODEM, Fundación
Alternativa, Fundación CAMPO, Fundación MICROS, Fundación Mujer, Fundación San Miguel,
FUNDAHMICRO, FUNDAMIC, FUNDECOCA, FUNDESPE, FUNED, FUNSALDE, Gasha, Genesiss,
Grameen Mendoza, GU, HOPE, Horizon, Horizonti, ICC BluSol, IDESI Lambayeque, ImerCredit,
Imkoniyat, IMPRO, INMAA, INSOTEC, Intellekt, Kakum RB, Kasagana-Ka, Kazama Grameen,
KosInvest, Lazika Capital, LPD Ambengan, LPD Bayung Gede, LPD Bedha, LPD Buahan, LPD
Celuk, LPD Ketewel, LPD Kukuh, LPD Sibetan, LPD Ubung, Maata-N-Tudu, Manuela Ramos,
MBK Ventura, MDSL, MEDF, Metemamen, MIDE, MikroMaliyye Credit, MLF HUMO, MLF
MicroInvest, Naara RB, New RB of Victorias, NMF, NMFB, Normicro, OLC, PALFSI, Parwaz, PEACE,
PRISMA, ProCaja, ProMujer - MEX, ProMujer - NIC, ProMujer - PER, RASS, RB Sto. Tomas, RGVN,
Rozgar, SBS, SEAP, SED, SEDA, SEF-ARM, SFPI, SMSS, Sociedad Cooperativa PADECOMSM,
Sonzelle RB, SPBD, TFS, Toende RB, UCADE Ambato, Ujjivan, UOMB, Upper Manya RB, VEF,
VRFSBS, Wasasa
Scale: Medium
(GLP in USD,
LAC ≥ 4,000,000 and
≤ 15,000,000;
Others ≥ 2,000,000 and
≤ 8,000,000)
153
28
100
25
ABS-CBN, ADMIC, ADRI, AFK, Al Majmoua, AMC, AMC de R.L., Ameen, AMK, AMMACTS,
AMSSF/MC, AREGAK, Azercredit, Bai Tushum, BanCovelo, Bangko Mabuhay, Bank Eskhata,
BCB, BRAC - AFG, BSS, BZMF, Cantilan Bank, CAPA, CARD Bank, Caritas, CBMO, CCA, CDS,
CEPRODEL, COAC Sac Aiet, COAC San José, COOPAC San Martín, COOPAC Santo Cristo,
CredAgro NBCO, Credicoop, CREDIT, CREDO, DEMOS SLC, Diaconia, D-Miro, EDPYME Crear
Tacna, EDPYME Nueva Visión, EDPYME Proempresa, Enda, ESAF, FASL, Fassil FFP, FATEN, Faulu
- UGA, FED, FFECC, FICO, FIE Gran Poder, FIELCO, FINCA - ARM, FINCA - AZE, FINCA - GEO,
FINCA - MEX, FINCA - MWI, FINCA - TZA, FINCA - UGA, FMFB - AFG, FMFB - Pakistan, FMFB - TJK,
FMSD, FULM, Fundación Espoir, Fundación León 2000, Fundación Nieborowski, Fundación
Paraguaya, FUNDEA, FUNDENUSE, FUNDESER, GK, GV, Hermandad de Honduras OPDF, HKL,
IDF, IMON, JSC Bank Constanta, KADET, KAMURJ, KBSLAB, KMBI, Kompanion, Kondo Jigima,
KRK Ltd, KRUSHI, LAPO, Lead Foundation, LIDER, LPD Kuta, LPD Pecatu, Mahasemam - SMILE,
Mallig Plains RB, MCN, MDF, MED-Net, MEMCO, MFW, MGBB, Microempresas de Antioquia,
Microinvest, Microserfin, MIKRA, Mikro ALDI, Mikrofond, Nachala, Nirdhan, NOA, NWTF, OBS,
ODEF Financiera S.A., OISL, OMB, OMO, OMRO, PGBB, PRESTANIC, ProCredit - GHA, PRODESA,
ProMujer - BOL, RB Digos, RB Lebak, RB Mabitac, RB Oroquieta, RB Solano, RB Talisayan,
Rost, Saadhana, Sanghamithra, SAT, Sathapana Limited, SBACD, SEF-ZAF, SMEP, Sodeistviye
(Pyatigorsk), Sodeystviye, SOGESOL, SWAWS, Tamweelcom, Tchuma, TPC, USTOI, Valiant RB,
VFC, VFS, Viator, Vital Finance, WAGES, Wisdom, Women for Women, World Relief - HND
Scale: Large
(GLP in USD, LAC > 15,000,000;
Others > 8,000,000)
164
52
99
13
1st Valley Bank, ABA, ACBA, AccessBank, ACCOVI, ACEP Senegal, ACLEDA, ACODEP, ACORDE,
ACSI, ADOPEM, AgroCapital, AgroInvest, Agroinvestbank, Aiyl Bank, Akiba, Al Amana,
AML, AMRET, Apoyo Integral, ARMP, ASA, Asociación Raíz, Banco ADEMI, Banco Solidario,
BancoEstado, BancoSol, BanDesarrollo Microempresas, Bandhan, BANEX (ex FINDESA),
BanGente, Bangko Kabayan, BASIX, BCSC, BESA, BFL, BISWA, BRAC, BURO Bangladesh, Caja Nor
Perú, Caja Popular Mexicana, CamCCUL, Capitec Bank, CARD NGO, Cashpor MC, Centenary
Bank, CEP, CMAC Arequipa, CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC
Maynas, CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC Trujillo, CMM Bogotá, CMM Medellín,
CMS, COAC Jardín Azuayo, COAC Mushuc Runa, CODESARROLLO, CompartamosBanco,
Coop Fátima, Coop Universitaria, CRECER, Credi Fé, CrediAmigo, Crediscotia, DBACD, DECSI,
EcoFuturo FFP, EDPYME Confianza, EDPYME Crear Arequipa, EKI, Equity Bank, FADES, FBPMC,
FDL, FIE FFP, FinAmérica, Financiera Edyficar, Financiera Fama, Financiera Familiar, FINCA - ECU,
FINCA - KOS, FinComún, FINCORP, FINSOL, FMCC, FMM Bucaramanga, FMM Popayán, FONDEP,
Fortaleza FFP, FORUS, FUCEC Togo, Fundusz Mikro, Génesis Empresarial, Grameen Bank,
Green Bank, INECO, Interactuar, Interfisa, JCF, Jemeni, Kafo Jiginew, KAS, Kashf, KEP, Khan Bank,
Khushhali Bank, KMB, KMF, K-Rep, KWFT, LOK Microcredit Foundation, MFI, MiBanco, MI-BOSPO,
MIKROFIN, Moznosti, NovoBanco - MOZ, Nyesigiso, OBM, Opportunity Albania, PADME,
Microfinance Information Exchange, Inc
51
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2005
Partner, PRASAC, PRIDE - TZA, PRIZMA, ProCredit - BOL, ProCredit - ECU, ProCredit - MDA,
ProCredit - NIC, ProCredit - SLV, ProCredit Bank - ALB, ProCredit Bank - BGR, ProCredit Bank BIH, ProCredit Bank - GEO, ProCredit Bank - KOS, ProCredit Bank - MKD, ProCredit Bank - ROM,
ProCredit Bank - UKR, ProCredit Bank Serbia, PRODEM FFP, RCPB, Sarvodaya Nano Finance,
SEEDS, SHARE, SINERGIJA, SKDRDP, SKS, Spandana, Sunrise, TMSS, TSKI, TSPI, UML, UNRWA,
Visión Banco, WWB Cali, XacBank, Zakoura
Sustainability: FSS
(Financial Self-Sufficiency ≥ 100%)
313
76
190
47
[These names are held confidential]
Sustainability: Non-FSS
(Financial Self-Sufficiency < 100%)
174
17
136
21
[These names are held confidential]
Target Market: Low End
(Avg. Balance per Borrower/
GNI per Capita < 20% and Avg.
Balance per Borrower < USD 150)
190
21
135
34
ABA, ABCRDM, ABS-CBN, ACSI, ADICH, ADMIC, ADOPEM, ADRA - PER, AGUDESA, Al Amana, Al
Karama, Al Majmoua, Al Tadamun, Alternativa, AMA, Ameen, AMK, AML, AMMACTS, AMRET,
AMSSF/MC, APED, ASA, ASEI, ASHI, Asociación Arariwa, ASP Financiera, AVFS, AYNLA, Azal,
Azeri Star, Banco da Familia, Banco Santiago de Libon, Bandhan, BanGente, Bereke, Bessfa RB,
BG, BISWA, BRAC, BRAC - AFG, BSS, BURO Bangladesh, Caja Popular Mexicana, Capitec Bank,
CARD Bank, CARD NGO, Caritas, Cashpor MC, CEAPE Maranhão, CEOSS, CEPESIU, CEVI, CFF,
CMEDFI, CompartamosBanco, CrediAmigo, Credicoop, CREDIMUJER, CReSA, CRYSOL, CZWSDA,
DAMEN, DBACD, DD Bank, DEMOS SLC, ECLOF - PHL, EDAPROSPO, EDPYME Alternativa,
EDPYME Efectiva, Enda, ENLACE, ESAF, Eshet, FAFIDESS, FAPE, FBPMC, FCBFI, FCC, FDM,
FIDERPAC, FINCA - AFG, FINCA - DRC, FINCA - ECU, FINCA - GTM, FINCA - MEX, FINCA - MWI,
FINCA - NIC, FINCA - PER, FINCA - TZA, FINCA - UGA, FINCA - ZMB, FinComún, FMM Popayán,
FMSD, FODEMI, FONDEP, FONDESOL, Friendship Bridge, Fundación Alternativa, Fundación
Espoir, Fundación MICROS, Fundación Mujer, Fundación San Miguel, FUNDAMIC, FUNDECOCA,
FUNDESPE, Fundusz Mikro, GK, Grameen Bank, Grameen Mendoza, GU, GV, Horizonti, IDESI
Lambayeque, IDF, INMAA, JCF, KAS, Kasagana-Ka, Kazama Grameen, Khushhali Bank, KMBI,
LAPO, Lead Foundation, Maata-N-Tudu, Mahasemam - SMILE, Mallig Plains RB, Manuela
Ramos, MBK Ventura, MEDF, MED-Net, Metemamen, MFW, MGBB, Microserfin, MIDE, Nirdhan,
NMF, NWTF, OLC, OMB, OMO, PALFSI, Parwaz, PEACE, PGBB, PRASAC, PRISMA, ProCaja, ProMujer
- BOL, ProMujer - MEX, ProMujer - PER, RASS, RB Talisayan, RGVN, Saadhana, Sanghamithra,
Sarvodaya Nano Finance, SAT, SBACD, SBS, SEAP, SED, SEDA, SEEDS, SEF-ZAF, SFPI, SHARE,
SKDRDP, SKS, Spandana, SPBD, SWAWS, TMSS, Toende RB, TPC, TSKI, TSPI, UCADE Ambato,
Ujjivan, UOMB, USTOI, VEF, VFC, VFS, Wasasa, Wisdom, Women for Women, Zakoura
Target Market: Broad
(Avg. Balance per Borrower/GNI
per Capita ≥ 20% and ≤ 150%)
250
65
159
26
1st Valley Bank, ACBA, ACCOVI, ACME, ACODEP, Actuar Caldas, Actuar Tolima, ADIM, ADRI,
AgroInvest, AMC, AMC de R.L., Apoyo Integral, AREGAK, ASDIR, Asociación Raíz, Azercredit,
Banco ADEMI, Banco Solidario, BancoEstado, BancoSol, BanCovelo, BanDesarrollo
Microempresas, Bangko Kabayan, Bangko Mabuhay, BASIX, BCB, BCSC, BESA, BFL, BOM, Caja
Nor Perú, CamCCUL, Cantilan Bank, CAPA, CAPPED, CBMO, CCA, CDRO, CDS, CEADe, CEF, CEP,
CEPRODEL, CMAC Arequipa, CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC
Maynas, CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC Trujillo, CMM Bogotá, CMM Medellín,
COAC Acción Rural, COAC Jardín Azuayo, COAC MCCH, COAC Mushuc Runa, COAC Sac Aiet,
COAC San José, CODESARROLLO, Contactar, Coop Universitaria, COOPAC San Martín, COOPAC
Santo Cristo, CRAC Los Andes, CRECER, Credi Fé, Crediscotia, CREDIT, CREDO, Crystal, DECSI,
Diaconia, D-Miro, ECLOF - ARM, EcoFuturo FFP, EDPYME Confianza, EDPYME Crear Arequipa,
EDPYME Crear Tacna, EDPYME Nueva Visión, EDPYME Proempresa, EKI, Emprender, Equity
Bank, FADES, FAMA OPDF, Fassil FFP, FATEN, Faulu - UGA, FDL, FED, FFECC, FICO, FIE FFP, FIE
Gran Poder, FIELCO, FinAmérica, Financiera Edyficar, Financiera Fama, Financiera Familiar,
FINCA - ARM, FINCA - AZE, FINCA - GEO, FINCA - HND, FINCA - TJK, FINCORP, FinDev, FINSOL,
FMCC, FMFB - Pakistan, FMM Bucaramanga, FODEM, FOMIC, FONCRESOL, FONDESURCO,
Fonkoze, FORUS, FOVIDA, FULM, FUNBODEM, Fundación CAMPO, Fundación León 2000,
Fundación Nieborowski, Fundación Paraguaya, FUNDAHMICRO, FUNDEA, FUNDENUSE,
FUNDESER, FUNED, FUNSALDE, Gasha, Génesis Empresarial, Genesiss, Green Bank, Hermandad
de Honduras OPDF, HKL, HOPE, Horizon, ICC BluSol, ImerCredit, Imkoniyat, IMON, IMPRO,
INECO, INSOTEC, Interactuar, Interfisa, JSC Bank Constanta, KADET, Kafo Jiginew, Kakum RB,
KAMURJ, Kashf, KBSLAB, KEP, Khan Bank, KMF, Kompanion, Kondo Jigima, KosInvest, K-Rep,
KRK Ltd, KRUSHI, KWFT, Lazika Capital, LIDER, LOK Microcredit Foundation, LPD Ambengan,
LPD Bayung Gede, LPD Bedha, LPD Buahan, LPD Ketewel, LPD Kukuh, LPD Sibetan, MDF,
MDSL, MEMCO, MFI, MiBanco, MI-BOSPO, Microempresas de Antioquia, MIKRA, Mikro ALDI,
MIKROFIN, Mikrofond, MikroMaliyye Credit, MLF HUMO, MLF MicroInvest, Moznosti, Naara RB,
Nachala, New RB of Victorias, NMFB, NOA, Normicro, Nyesigiso, OBM, OBS, ODEF Financiera
S.A., OISL, OMRO, Opportunity Albania, Partner, PRESTANIC, PRIDE - TZA, PRIZMA, ProCredit
- ECU, ProCredit - NIC, ProCredit - SLV, ProCredit Bank - ALB, ProCredit Bank - BIH, ProCredit
Bank - ROM, ProCredit Bank Serbia, PRODESA, ProMujer - NIC, RB Digos, RB Lebak, RB Mabitac,
RB Oroquieta, RB Solano, RB Sto. Tomas, Rost, Rozgar, Sathapana Limited, SEF-ARM, SINERGIJA,
SMEP, SMSS, Sociedad Cooperativa PADECOMSM, Sodeistviye (Pyatigorsk), Sodeystviye,
Sonzelle RB, Sunrise, Tamweelcom, Tchuma, TFS, UML, UNRWA, Upper Manya RB, Valiant RB,
Viator, Visión Banco, Vital Finance, VRFSBS, World Relief - HND, WWB Cali, XacBank
Target Market: High End
(Avg. Balance per Borrower/GNI
per Capita > 150% and ≤ 250%)
25
4
14
7
ACLEDA, AFK, ARMP, BANEX (ex FINDESA), BZMF, CMS, FASL, FINCA - KOS, Intellekt, KMB, LPD
Kuta, LPD Pecatu, LPD Ubung, MCN, Microinvest, NovoBanco - MOZ, PADME, ProCredit - BOL,
ProCredit - MDA, ProCredit Bank - BGR, ProCredit Bank - MKD, PRODEM FFP, RCPB, SOGESOL,
WAGES
52
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2005
Target Market: Small Business
(Avg. Balance per Borrower/
GNI per Capita > 250%)
22
3
18
1
AccessBank, ACEP Senegal, ACORDE, AgroCapital, Agroinvestbank, Aiyl Bank, Akiba, Bai
Tushum, Bank Eskhata, Centenary Bank, Coop Fátima, CredAgro NBCO, FMFB - AFG, FMFB
- TJK, Fortaleza FFP, FUCEC Togo, Jemeni, LPD Celuk, ProCredit - GHA, ProCredit Bank - GEO,
ProCredit Bank - KOS, ProCredit Bank - UKR
Africa Small
27
0
20
7
APED, AVFS, Bessfa RB, BG, BOM, CAPPED, CFF, Eshet, FCC, FDM, FINCA - DRC, FINCA - ZMB,
Gasha, Kakum RB, Maata-N-Tudu, MDSL, Metemamen, Naara RB, PEACE, SEAP, SEDA, SFPI,
Sonzelle RB, Toende RB, UOMB, Upper Manya RB, Wasasa
Africa Medium
21
0
15
6
CCA, CDS, FASL, Faulu - UGA, FINCA - MWI, FINCA - TZA, FINCA - UGA, KADET, Kondo Jigima,
LAPO, MED-Net, OISL, OMO, ProCredit - GHA, SAT, SEF-ZAF, SMEP, Tchuma, Vital Finance,
WAGES, Wisdom
Africa Large
21
0
17
4
ACEP Senegal, ACSI, Akiba, CamCCUL, Capitec Bank, Centenary Bank, CMS, DECSI, Equity
Bank, FINCORP, FUCEC Togo, Jemeni, Kafo Jiginew, K-Rep, KWFT, NovoBanco - MOZ, Nyesigiso,
PADME, PRIDE - TZA, RCPB, UML
Africa FSS
26
0
20
6
[These names are held confidential]
Africa Non FSS
43
0
32
11
[These names are held confidential]
Asia Small
39
1
23
15
ABCRDM, ASHI, Banco Santiago de Libon, CEVI, CMEDFI, CReSA, CZWSDA, DAMEN, DD Bank,
ECLOF - PHL, FCBFI, FINCA - AFG, GU, Kasagana-Ka, Kazama Grameen, LPD Ambengan, LPD
Bayung Gede, LPD Bedha, LPD Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh, LPD Sibetan, LPD
Ubung, MBK Ventura, MEDF, New RB of Victorias, NMFB, PALFSI, Parwaz, RASS, RB Sto. Tomas,
RGVN, Rozgar, SED, SMSS, SPBD, Ujjivan, VEF
Asia Medium
45
5
31
9
ABS-CBN, AMK, AMMACTS, Bangko Mabuhay, BCB, BRAC - AFG, BSS, Cantilan Bank, CARD
Bank, CBMO, CREDIT, ESAF, FICO, FMFB - AFG, FMFB - Pakistan, GK, GV, HKL, IDF, KBSLAB, KMBI,
KRUSHI, LPD Kuta, LPD Pecatu, Mahasemam - SMILE, Mallig Plains RB, MGBB, Nirdhan, NWTF,
OMB, PGBB, RB Digos, RB Lebak, RB Mabitac, RB Oroquieta, RB Solano, RB Talisayan, Saadhana,
Sanghamithra, Sathapana Limited, SWAWS, TPC, Valiant RB, VFC, VFS
Asia Large
33
1
25
7
1st Valley Bank, ACLEDA, AML, AMRET, ARMP, ASA, Bandhan, Bangko Kabayan, BASIX, BFL,
BISWA, BRAC, BURO Bangladesh, CARD NGO, Cashpor MC, CEP, Grameen Bank, Green Bank, JCF,
KAS, Kashf, Khushhali Bank, MFI, PRASAC, Sarvodaya Nano Finance, SEEDS, SHARE, SKDRDP,
SKS, Spandana, TMSS, TSKI, TSPI
Asia FSS
71
3
43
25
[These names are held confidential]
Asia Non FSS
46
4
36
6
[These names are held confidential]
ECA Small
24
4
14
6
Alternativa, Azeri Star, Bereke, CEF, Crystal, ECLOF - ARM, FINCA - TJK, FinDev, HOPE, Horizon,
Horizonti, ImerCredit, Imkoniyat, Intellekt, KosInvest, Lazika Capital, MikroMaliyye Credit, MLF
HUMO, MLF MicroInvest, Normicro, SBS, SEF-ARM, TFS, VRFSBS
ECA Medium
37
8
20
9
AFK, AREGAK, Azercredit, Bai Tushum, Bank Eskhata, BZMF, CAPA, CredAgro NBCO, CREDO,
DEMOS SLC, FFECC, FINCA - ARM, FINCA - AZE, FINCA - GEO, FMFB - TJK, FULM, IMON, JSC
Bank Constanta, KAMURJ, Kompanion, KRK Ltd, LIDER, MDF, Microinvest, MIKRA, Mikro ALDI,
Mikrofond, Nachala, NOA, OBS, OMRO, Rost, Sodeistviye (Pyatigorsk), Sodeystviye, USTOI,
Viator, Women for Women
ECA Large
37
3
34
0
ACBA, AccessBank, AgroInvest, Agroinvestbank, Aiyl Bank, BESA, EKI, FINCA - KOS, FMCC,
FORUS, Fundusz Mikro, INECO, KEP, Khan Bank, KMB, KMF, LOK Microcredit Foundation, MIBOSPO, MIKROFIN, Moznosti, OBM, Opportunity Albania, Partner, PRIZMA, ProCredit - MDA,
ProCredit Bank - ALB, ProCredit Bank - BGR, ProCredit Bank - BIH, ProCredit Bank - GEO,
ProCredit Bank - KOS, ProCredit Bank - MKD, ProCredit Bank - ROM, ProCredit Bank - UKR,
ProCredit Bank Serbia, SINERGIJA, Sunrise, XacBank
ECA FSS
71
9
50
12
[These names are held confidential]
ECA Non FSS
27
6
18
3
[These names are held confidential]
LAC Small
74
8
66
0
ACME, Actuar Caldas, Actuar Tolima, ADICH, ADIM, ADRA - PER, AGUDESA, AMA, ASDIR, ASEI,
Asociación Arariwa, ASP Financiera, AYNLA, Banco da Familia, CDRO, CEADe, CEAPE Maranhão,
CEPESIU, COAC Acción Rural, COAC MCCH, Contactar, CRAC Los Andes, CREDIMUJER, CRYSOL,
EDAPROSPO, EDPYME Alternativa, EDPYME Efectiva, Emprender, ENLACE, FAFIDESS, FAMA
OPDF, FAPE, FIDERPAC, FINCA - GTM, FINCA - HND, FINCA - NIC, FINCA - PER, FODEM, FODEMI,
FOMIC, FONCRESOL, FONDESOL, FONDESURCO, Fonkoze, FOVIDA, Friendship Bridge,
FUNBODEM, Fundación Alternativa, Fundación CAMPO, Fundación MICROS, Fundación
Mujer, Fundación San Miguel, FUNDAHMICRO, FUNDAMIC, FUNDECOCA, FUNDESPE, FUNED,
FUNSALDE, Genesiss, Grameen Mendoza, ICC BluSol, IDESI Lambayeque, IMPRO, INSOTEC,
Manuela Ramos, MIDE, OLC, PRISMA, ProCaja, ProMujer - MEX, ProMujer - NIC, ProMujer - PER,
Sociedad Cooperativa PADECOMSM, UCADE Ambato
LAC Medium
39
15
24
0
ADMIC, ADRI, AMC de R.L., BanCovelo, Caritas, CEPRODEL, COAC Sac Aiet, COAC San José,
COOPAC San Martín, COOPAC Santo Cristo, Credicoop, Diaconia, D-Miro, EDPYME Crear
Tacna, EDPYME Nueva Visión, EDPYME Proempresa, Fassil FFP, FED, FIE Gran Poder, FIELCO,
FINCA - MEX, FMSD, Fundación Espoir, Fundación León 2000, Fundación Nieborowski,
Fundación Paraguaya, FUNDEA, FUNDENUSE, FUNDESER, Hermandad de Honduras OPDF,
MCN, Microempresas de Antioquia, Microserfin, ODEF Financiera S.A., PRESTANIC, PRODESA,
ProMujer - BOL, SOGESOL, World Relief - HND
COMPOUND PEER GROUPS 2005
Microfinance Information Exchange, Inc
53
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
COMPOUND PEER GROUPS 2005
LAC Large
66
47
17
2
ACCOVI, ACODEP, ACORDE, ADOPEM, AgroCapital, Apoyo Integral, Asociación Raíz, Banco
ADEMI, Banco Solidario, BancoEstado, BancoSol, BanDesarrollo Microempresas, BANEX (ex
FINDESA), BanGente, BCSC, Caja Nor Perú, Caja Popular Mexicana, CMAC Arequipa, CMAC
Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC Maynas, CMAC Paita, CMAC
Sullana, CMAC Tacna, CMAC Trujillo, CMM Bogotá, CMM Medellín, COAC Jardín Azuayo, COAC
Mushuc Runa, CODESARROLLO, CompartamosBanco, Coop Fátima, Coop Universitaria,
CRECER, Credi Fé, CrediAmigo, Crediscotia, EcoFuturo FFP, EDPYME Confianza, EDPYME Crear
Arequipa, FADES, FDL, FIE FFP, FinAmérica, Financiera Edyficar, Financiera Fama, Financiera
Familiar, FINCA - ECU, FinComún, FINSOL, FMM Bucaramanga, FMM Popayán, Fortaleza FFP,
Génesis Empresarial, Interactuar, Interfisa, MiBanco, ProCredit - BOL, ProCredit - ECU, ProCredit
- NIC, ProCredit - SLV, PRODEM FFP, Visión Banco, WWB Cali
LAC FSS
129
64
63
2
[These names are held confidential]
LAC Non FSS
50
6
44
0
[These names are held confidential]
MENASmall
6
0
4
2
Al Karama, Al Tadamun, Azal, CEOSS, INMAA, NMF
MENA Medium
11
0
10
1
Al Majmoua, AMC, Ameen, AMSSF/MC, Enda, FATEN, Lead Foundation, MEMCO, MFW, SBACD,
Tamweelcom
MENA Large
7
1
6
0
ABA, Al Amana, DBACD, FBPMC, FONDEP, UNRWA, Zakoura
MENA FSS
16
0
14
2
[These names are held confidential]
MENA Non FSS
8
1
6
1
[These names are held confidential]
Peer Groups 2006
SIMPLE PEER GROUPS 2006
Age: New
41
2
29
10
AccessBank, Agroinvestbank, ARMP, Azal, Bereke, BOM, ECLOF - ARM, FINCA - AFG, FINCA DRC, FINCA - TJK, FMFB - AFG, FMFB - Pakistan, FMFB - TJK, FONDESOL, Fundación San Miguel,
Horizon, Kakum RB, KAS, Kasagana-Ka, Kompanion, KRUSHI, Lead Foundation, LIDER, MBK
Ventura, Metemamen, MFI, Microinvest, MikroMaliyye Credit, MLF HUMO, MLF MicroInvest,
NMFB, OBS, OISL, Parwaz, ProCredit - GHA, ProCredit Bank - MKD, ProCredit Bank - ROM,
Rozgar, Sodeistviye (Pyatigorsk), Toende RB, Ujjivan
Age: Young
(5 to 8 Years)
133
20
96
17
ABCRDM, AFK, AgroInvest, Al Karama, AMC, AMC de R.L., Ameen, AMK, AML, APED, AREGAK,
ASDIR, Asociación Arariwa, Asociación Raíz, ASP Financiera, AVFS, Azeri Star, Bai Tushum,
Banco da Familia, Bandhan, BanGente, BESA, BFL, BG, BRAC - AFG, BSS, BZMF, Capitec Bank, CEF,
CEOSS, CEVI, CFF, CMEDFI, COAC Acción Rural, COAC MCCH, COAC Sac Aiet, CODESARROLLO,
CredAgro NBCO, Credi Fé, CREDIT, CRYSOL, Crystal, CZWSDA, DBACD, DD Bank, DEMOS SLC,
ECLOF - PHL, EcoFuturo FFP, EDPYME Alternativa, EDPYME Efectiva, EDPYME Nueva Visión,
EDPYME Proempresa, Emprender, Eshet, FBPMC, FIE Gran Poder, FINCA - ARM, FINCA - AZE,
FINCA - GEO, FINCA - KOS, FINCA - TZA, FINCA - ZMB, FODEM, FOVIDA, Friendship Bridge,
FULM, FUNDAHMICRO, Gasha, GK, Grameen Mendoza, Horizonti, ImerCredit, Imkoniyat,
IMON, INMAA, Intellekt, KADET, KAMURJ, Kazama Grameen, KBSLAB, KEP, Khushhali Bank,
KMB, KosInvest, KRK Ltd, Mahasemam - SMILE, MCN, MDF, MDSL, MEMCO, Microserfin, MIDE,
MIKRA, Mikrofond, NMF, Normicro, NovoBanco - MOZ, OBM, OMB, Opportunity Albania, PEACE,
ProCredit - ECU, ProCredit - MDA, ProCredit - NIC, ProCredit Bank - ALB, ProCredit Bank - BGR,
ProCredit Bank - GEO, ProCredit Bank - KOS, ProCredit Bank - UKR, ProCredit Bank Serbia,
ProMujer - MEX, ProMujer - PER, Rost, Saadhana, SBS, SEAP, SEF-ARM, SFPI, SOGESOL, SPBD,
SWAWS, Tamweelcom, Tchuma, TFS, Upper Manya RB, USTOI, VFC, Viator, Vital Finance, VRFSBS,
Wasasa, Wisdom, XacBank
Age: Mature
( > 8 Years)
313
70
193
50
1st Valley Bank, ABA, ABS-CBN, ACBA, ACCOVI, ACEP Senegal, ACLEDA, ACME, ACODEP,
ACORDE, ACSI, Actuar Caldas, Actuar Tolima, ADICH, ADIM, ADMIC, ADOPEM, ADRA - PER, ADRI,
AgroCapital, AGUDESA, Aiyl Bank, Akiba, Al Amana, Al Majmoua, Al Tadamun, Alternativa,
AMA, AMMACTS, AMRET, AMSSF/MC, Apoyo Integral, ASA, ASEI, ASHI, AYNLA, Azercredit,
Banco ADEMI, Banco Santiago de Libon, Banco Solidario, BancoEstado, BancoSol, BanCovelo,
BanDesarrollo Microempresas, BANEX (ex FINDESA), Bangko Kabayan, Bangko Mabuhay, Bank
Eskhata, BASIX, BCB, BCSC, Bessfa RB, BISWA, BRAC, BURO Bangladesh, Caja Nor Perú, Caja
Popular Mexicana, CamCCUL, Cantilan Bank, CAPA, CAPPED, CARD Bank, CARD NGO, Caritas,
Cashpor MC, CBMO, CCA, CDRO, CDS, CEADe, CEAPE Maranhão, Centenary Bank, CEP, CEPESIU,
CEPRODEL, CMAC Arequipa, CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC
Maynas, CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC Trujillo, CMM Bogotá, CMM Medellín,
CMS, COAC Jardín Azuayo, COAC Mushuc Runa, COAC San José, CompartamosBanco,
Contactar, Coop Fátima, Coop Universitaria, COOPAC San Martín, COOPAC Santo Cristo,
CRAC Los Andes, CRECER, CrediAmigo, Credicoop, CREDIMUJER, Crediscotia, CREDO, CReSA,
DAMEN, DECSI, Diaconia, D-Miro, EDAPROSPO, EDPYME Confianza, EDPYME Crear Arequipa,
EDPYME Crear Tacna, EKI, Enda, ENLACE, Equity Bank, ESAF, FADES, FAFIDESS, FAMA OPDF,
FAPE, FASL, Fassil FFP, FATEN, Faulu - UGA, FCBFI, FCC, FDL, FDM, FED, FFECC, FICO, FIDERPAC,
FIE FFP, FIELCO, FinAmérica, Financiera Edyficar, Financiera Fama, Financiera Familiar, FINCA ECU, FINCA - GTM, FINCA - HND, FINCA - MEX, FINCA - MWI, FINCA - NIC, FINCA - PER, FINCA
- UGA, FinComún, FINCORP, FinDev, FINSOL, FMCC, FMM Bucaramanga, FMM Popayán, FMSD,
FODEMI, FOMIC, FONCRESOL, FONDEP, FONDESURCO, Fonkoze, Fortaleza FFP, FORUS, FUCEC
Togo, FUNBODEM, Fundación Alternativa, Fundación CAMPO, Fundación Espoir, Fundación
León 2000, Fundación MICROS, Fundación Mujer, Fundación Nieborowski, Fundación
54
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2006
Paraguaya, FUNDAMIC, FUNDEA, FUNDECOCA, FUNDENUSE, FUNDESER, FUNDESPE, Fundusz
Mikro, FUNED, FUNSALDE, Génesis Empresarial, Genesiss, Grameen Bank, Green Bank, GU,
GV, Hermandad de Honduras OPDF, HKL, HOPE, ICC BluSol, IDESI Lambayeque, IDF, IMPRO,
INECO, INSOTEC, Interactuar, Interfisa, JCF, Jemeni, JSC Bank Constanta, Kafo Jiginew, Kashf,
Khan Bank, KMBI, KMF, Kondo Jigima, K-Rep, KWFT, LAPO, Lazika Capital, LOK Microcredit
Foundation, LPD Ambengan, LPD Bayung Gede, LPD Bedha, LPD Buahan, LPD Celuk, LPD
Ketewel, LPD Kukuh, LPD Kuta, LPD Pecatu, LPD Sibetan, LPD Ubung, Maata-N-Tudu, Mallig
Plains RB, Manuela Ramos, MEDF, MED-Net, MFW, MGBB, MiBanco, MI-BOSPO, Microempresas
de Antioquia, Mikro ALDI, MIKROFIN, Moznosti, Naara RB, Nachala, New RB of Victorias,
Nirdhan, NOA, NWTF, Nyesigiso, ODEF Financiera S.A., OLC, OMO, OMRO, PADME, PALFSI,
Partner, PGBB, PRASAC, PRESTANIC, PRIDE - TZA, PRISMA, PRIZMA, ProCaja, ProCredit - BOL,
ProCredit - SLV, ProCredit Bank - BIH, PRODEM FFP, PRODESA, ProMujer - BOL, ProMujer - NIC,
RASS, RB Digos, RB Lebak, RB Mabitac, RB Oroquieta, RB Solano, RB Sto. Tomas, RB Talisayan,
RCPB, RGVN, Sanghamithra, Sarvodaya Nano Finance, SAT, Sathapana Limited, SBACD, SED,
SEDA, SEEDS, SEF-ZAF, SHARE, SINERGIJA, SKDRDP, SKS, SMEP, SMSS, Sociedad Cooperativa
PADECOMSM, Sodeystviye, Sonzelle RB, Spandana, Sunrise, TMSS, TPC, TSKI, TSPI, UCADE
Ambato, UML, UNRWA, UOMB, Valiant RB, VEF, VFS, Visión Banco, WAGES, Women for Women,
World Relief - HND, WWB Cali, Zakoura
Charter Type: Bank
(Bank)
48
12
34
2
ACBA, AccessBank, ACLEDA, ADOPEM, Agroinvestbank, Akiba, Banco ADEMI, Banco Solidario,
BancoEstado, BancoSol, BanDesarrollo Microempresas, BanGente, Bank Eskhata, BCSC, BOM,
Capitec Bank, Centenary Bank, CompartamosBanco, CrediAmigo, Crediscotia, Equity Bank,
FMFB - AFG, FMFB - TJK, FORUS, Grameen Bank, INECO, KBSLAB, Khan Bank, KMB, K-Rep,
MiBanco, NovoBanco - MOZ, OBM, OMB, ProCredit - BOL, ProCredit - ECU, ProCredit - NIC,
ProCredit - SLV, ProCredit Bank - ALB, ProCredit Bank - BGR, ProCredit Bank - BIH, ProCredit
Bank - GEO, ProCredit Bank - KOS, ProCredit Bank - MKD, ProCredit Bank - ROM, ProCredit Bank
- UKR, ProCredit Bank Serbia, XacBank
Charter Type: Credit Union
(Credit Union)
35
6
23
6
ACEP Senegal, Alternativa, AMMACTS, Caja Popular Mexicana, CamCCUL, CMS, COAC Acción
Rural, COAC Jardín Azuayo, COAC MCCH, COAC Mushuc Runa, COAC Sac Aiet, COAC San
José, CODESARROLLO, Coop Fátima, Coop Universitaria, COOPAC San Martín, COOPAC Santo
Cristo, Credicoop, DEMOS SLC, FFECC, FUCEC Togo, FULM, Intellekt, Jemeni, Kafo Jiginew,
Kondo Jigima, Moznosti, Nachala, NOA, Nyesigiso, RCPB, Rost, SBS, Sodeistviye (Pyatigorsk),
Sodeystviye
Charter Type: NBFI
(Non-Bank Financial Intermediary)
169
48
104
17
ACCOVI, ACSI, AgroInvest, Aiyl Bank, AMC, AMC de R.L., Ameen, AMK, AML, AMRET, Apoyo
Integral, AREGAK, ASP Financiera, AVFS, Azercredit, Azeri Star, Bai Tushum, BanCovelo,
Bandhan, BANEX (ex FINDESA), BASIX, BFL, BG, Caja Nor Perú, CAPA, CCA, CDS, CEF, CMAC
Arequipa, CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC Maynas, CMAC
Paita, CMAC Sullana, CMAC Tacna, CMAC Trujillo, CRAC Los Andes, CredAgro NBCO, Credi Fé,
CREDIT, CREDO, Crystal, DD Bank, DECSI, ECLOF - ARM, EcoFuturo FFP, EDPYME Alternativa,
EDPYME Confianza, EDPYME Crear Arequipa, EDPYME Crear Tacna, EDPYME Efectiva, EDPYME
Nueva Visión, EDPYME Proempresa, EKI, ENLACE, Eshet, FAMA OPDF, FASL, Fassil FFP, FATEN,
Faulu - UGA, FIE FFP, FIE Gran Poder, FIELCO, FinAmérica, Financiera Edyficar, Financiera Fama,
Financiera Familiar, FINCA - AFG, FINCA - ARM, FINCA - AZE, FINCA - ECU, FINCA - GEO, FINCA
- TJK, FINCA - UGA, FINCA - ZMB, FinComún, FINCORP, FinDev, FINSOL, FMCC, FMFB - Pakistan,
Fortaleza FFP, Fundusz Mikro, Gasha, Hermandad de Honduras OPDF, HKL, HOPE, Horizon,
ImerCredit, Imkoniyat, IMON, Interfisa, JSC Bank Constanta, KADET, KAMURJ, KEP, Khushhali
Bank, KMF, Kompanion, KRK Ltd, KWFT, Lazika Capital, LIDER, LOK Microcredit Foundation,
Mahasemam - SMILE, MCN, MDSL, MEMCO, Metemamen, MFW, MI-BOSPO, Microinvest,
Microserfin, MIKRA, Mikro ALDI, MIKROFIN, Mikrofond, MikroMaliyye Credit, MLF HUMO,
MLF MicroInvest, Nirdhan, NMFB, Normicro, OBS, ODEF Financiera S.A., OISL, OMO, OMRO,
Opportunity Albania, Partner, Parwaz, PEACE, PRASAC, PRIZMA, ProCredit - GHA, ProCredit
- MDA, PRODEM FFP, Rozgar, Sarvodaya Nano Finance, Sathapana Limited, SED, SEEDS, SEFARM, SFPI, SHARE, SINERGIJA, SKS, SMEP, SOGESOL, Spandana, Sunrise, Tamweelcom, Tchuma,
TFS, TPC, Ujjivan, UML, UNRWA, UOMB, USTOI, VFC, Viator, Visión Banco, Wasasa, Wisdom,
Women for Women
Charter Type: NGO
(Non Government Organization)
196
26
135
35
ABA, ABCRDM, ABS-CBN, ACME, ACODEP, ACORDE, Actuar Caldas, Actuar Tolima, ADICH, ADIM,
ADMIC, ADRA - PER, ADRI, AFK, AgroCapital, AGUDESA, Al Amana, Al Karama, Al Majmoua,
Al Tadamun, AMA, AMSSF/MC, APED, ARMP, ASA, ASDIR, ASEI, ASHI, Asociación Arariwa,
Asociación Raíz, AYNLA, Azal, Banco da Familia, Bereke, BESA, BISWA, BRAC, BRAC - AFG, BSS,
BURO Bangladesh, BZMF, CAPPED, CARD NGO, Caritas, Cashpor MC, CDRO, CEADe, CEAPE
Maranhão, CEOSS, CEP, CEPESIU, CEPRODEL, CEVI, CFF, CMEDFI, CMM Bogotá, CMM Medellín,
Contactar, CRECER, CREDIMUJER, CReSA, CRYSOL, CZWSDA, DAMEN, DBACD, Diaconia, D-Miro,
ECLOF - PHL, EDAPROSPO, Emprender, Enda, ESAF, FADES, FAFIDESS, FAPE, FBPMC, FCBFI, FCC,
FDL, FDM, FED, FIDERPAC, FINCA - DRC, FINCA - GTM, FINCA - HND, FINCA - KOS, FINCA - MEX,
FINCA - MWI, FINCA - NIC, FINCA - PER, FINCA - TZA, FMM Bucaramanga, FMM Popayán,
FMSD, FODEM, FODEMI, FOMIC, FONCRESOL, FONDEP, FONDESOL, FONDESURCO, Fonkoze,
FOVIDA, Friendship Bridge, FUNBODEM, Fundación Alternativa, Fundación CAMPO, Fundación
Espoir, Fundación León 2000, Fundación MICROS, Fundación Mujer, Fundación Nieborowski,
Fundación Paraguaya, Fundación San Miguel, FUNDAHMICRO, FUNDAMIC, FUNDEA,
FUNDECOCA, FUNDENUSE, FUNDESER, FUNDESPE, FUNED, FUNSALDE, Génesis Empresarial,
Genesiss, GK, Grameen Mendoza, GU, GV, Horizonti, ICC BluSol, IDESI Lambayeque, IDF, IMPRO,
INMAA, INSOTEC, Interactuar, JCF, KAS, Kasagana-Ka, Kashf, Kazama Grameen, KMBI, KosInvest,
KRUSHI, LAPO, Lead Foundation, Maata-N-Tudu, Manuela Ramos, MBK Ventura, MDF,
Microfinance Information Exchange, Inc
55
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2006
MEDF, MED-Net, MFI, Microempresas de Antioquia, MIDE, NMF, NWTF, OLC, PADME, PALFSI,
PRESTANIC, PRIDE - TZA, PRISMA, ProCaja, PRODESA, ProMujer - BOL, ProMujer - MEX, ProMujer
- NIC, ProMujer - PER, RASS, RGVN, Saadhana, Sanghamithra, SAT, SBACD, SEAP, SEDA, SEF-ZAF,
SKDRDP, SMSS, Sociedad Cooperativa PADECOMSM, SPBD, SWAWS, TMSS, TSKI, TSPI, UCADE
Ambato, VEF, VFS, Vital Finance, VRFSBS, WAGES, World Relief - HND, WWB Cali, Zakoura
Charter Type: Rural Bank
(Rural Bank)
39
0
22
17
1st Valley Bank, Banco Santiago de Libon, Bangko Kabayan, Bangko Mabuhay, BCB, Bessfa RB,
Cantilan Bank, CARD Bank, CBMO, FICO, Green Bank, Kakum RB, LPD Ambengan, LPD Bayung
Gede, LPD Bedha, LPD Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh, LPD Kuta, LPD Pecatu, LPD
Sibetan, LPD Ubung, Mallig Plains RB, MGBB, Naara RB, New RB of Victorias, PGBB, RB Digos, RB
Lebak, RB Mabitac, RB Oroquieta, RB Solano, RB Sto. Tomas, RB Talisayan, Sonzelle RB, Toende
RB, Upper Manya RB, Valiant RB
Financial Intermediation: Non FI
(Voluntary Savings/
Total Assets = 0)
288
50
194
44
ABA, ABCRDM, ABS-CBN, ACME, ACODEP, ACORDE, Actuar Caldas, Actuar Tolima, ADICH, ADIM,
ADMIC, ADRA - PER, ADRI, AFK, AgroCapital, AgroInvest, AGUDESA, Aiyl Bank, Al Amana, Al
Karama, Al Majmoua, Al Tadamun, AMA, AMC, AMC de R.L., Ameen, AML, AMSSF/MC, APED,
Apoyo Integral, AREGAK, ARMP, ASDIR, ASEI, ASHI, Asociación Arariwa, Asociación Raíz, ASP
Financiera, AYNLA, Azal, Azercredit, Azeri Star, Bai Tushum, Banco da Familia, BanCovelo,
Bandhan, BASIX, Bereke, BESA, BFL, BISWA, BRAC - AFG, BSS, BZMF, CAPA, CARD NGO, Caritas,
Cashpor MC, CDRO, CEADe, CEAPE Maranhão, CEF, CEOSS, CEPESIU, CEPRODEL, CEVI, CMM
Bogotá, CMM Medellín, CompartamosBanco, Contactar, CRECER, CredAgro NBCO, Credi
Fé, CrediAmigo, CREDIMUJER, CREDO, CReSA, CRYSOL, Crystal, CZWSDA, DAMEN, DBACD,
Diaconia, D-Miro, ECLOF - ARM, ECLOF - PHL, EDAPROSPO, EDPYME Alternativa, EDPYME
Confianza, EDPYME Crear Arequipa, EDPYME Crear Tacna, EDPYME Efectiva, EDPYME Nueva
Visión, EDPYME Proempresa, EKI, Emprender, Enda, ENLACE, ESAF, FADES, FAFIDESS, FAPE,
FATEN, Faulu - UGA, FBPMC, FCC, FDL, FDM, FED, FIDERPAC, FIE Gran Poder, Financiera Edyficar,
Financiera Fama, FINCA - AFG, FINCA - ARM, FINCA - AZE, FINCA - DRC, FINCA - GEO, FINCA GTM, FINCA - HND, FINCA - KOS, FINCA - MEX, FINCA - MWI, FINCA - NIC, FINCA - PER, FINCA
- TJK, FINCA - TZA, FINCA - ZMB, FINCORP, FinDev, FMCC, FMM Bucaramanga, FMM Popayán,
FMSD, FODEM, FODEMI, FOMIC, FONCRESOL, FONDEP, FONDESOL, FONDESURCO, FORUS,
FOVIDA, Friendship Bridge, FUNBODEM, Fundación Alternativa, Fundación CAMPO, Fundación
Espoir, Fundación León 2000, Fundación MICROS, Fundación Mujer, Fundación Nieborowski,
Fundación Paraguaya, Fundación San Miguel, FUNDAHMICRO, FUNDAMIC, FUNDEA,
FUNDECOCA, FUNDENUSE, FUNDESER, FUNDESPE, Fundusz Mikro, FUNED, FUNSALDE, Génesis
Empresarial, Genesiss, GK, Grameen Mendoza, GU, GV, Hermandad de Honduras OPDF, HOPE,
Horizon, Horizonti, ICC BluSol, IDESI Lambayeque, ImerCredit, Imkoniyat, IMON, IMPRO, INMAA,
INSOTEC, Interactuar, JSC Bank Constanta, KADET, KAMURJ, KAS, Kasagana-Ka, KEP, Khushhali
Bank, KMBI, KMF, Kompanion, KosInvest, KRK Ltd, KRUSHI, KWFT, LAPO, Lazika Capital, Lead
Foundation, LIDER, LOK Microcredit Foundation, Maata-N-Tudu, Mahasemam - SMILE,
Manuela Ramos, MBK Ventura, MCN, MDF, MDSL, MEDF, MED-Net, MEMCO, Metemamen, MFI,
MFW, MI-BOSPO, Microempresas de Antioquia, Microinvest, Microserfin, MIDE, MIKRA, Mikro
ALDI, MIKROFIN, Mikrofond, MikroMaliyye Credit, MLF HUMO, MLF MicroInvest, Nachala, NMF,
NOA, Normicro, OLC, OMRO, Opportunity Albania, PADME, PALFSI, Partner, Parwaz, PRESTANIC,
PRIDE - TZA, PRISMA, PRIZMA, ProCredit - MDA, PRODESA, ProMujer - BOL, ProMujer - MEX,
ProMujer - NIC, ProMujer - PER, RASS, RGVN, Saadhana, Sanghamithra, Sarvodaya Nano
Finance, SBACD, SEAP, SED, SEDA, SEF-ARM, SEF-ZAF, SHARE, SINERGIJA, SKDRDP, SKS,
SMEP, SMSS, Sociedad Cooperativa PADECOMSM, SOGESOL, Spandana, Sunrise, SWAWS,
Tamweelcom, TSKI, TSPI, UCADE Ambato, Ujjivan, UNRWA, UOMB, USTOI, VEF, VFC, VFS, Viator,
Vital Finance, VRFSBS, Women for Women, World Relief - HND, WWB Cali, Zakoura
Financial Intermediation: Low FI
(Voluntary Savings/
Total Assets > 0 and < 20%)
57
4
44
9
ACBA, AccessBank, ACEP Senegal, AMK, AMMACTS, AMRET, ASA, AVFS, BG, BRAC, CEP, CFF,
CREDIT, DD Bank, DECSI, DEMOS SLC, Eshet, FAMA OPDF, FCBFI, FINCA - ECU, FMFB - AFG,
FMFB - TJK, Fonkoze, Gasha, Grameen Bank, HKL, IDF, JCF, Kashf, Kazama Grameen, KMB, MGBB,
Moznosti, Nirdhan, NMFB, NWTF, OBS, ODEF Financiera S.A., OISL, OMB, OMO, PEACE, PGBB,
PRASAC, ProCaja, Rozgar, SAT, Sathapana Limited, SEEDS, SFPI, SPBD, Tchuma, TMSS, TPC, UML,
Wasasa, Wisdom
Financial Intermediation: High FI
(Voluntary Savings/
Total Assets ≥ 20%)
142
38
80
24
1st Valley Bank, ACCOVI, ACLEDA, ACSI, ADOPEM, Agroinvestbank, Akiba, Alternativa, Banco
ADEMI, Banco Santiago de Libon, Banco Solidario, BancoEstado, BancoSol, BanDesarrollo
Microempresas, BANEX (ex FINDESA), BanGente, Bangko Kabayan, Bangko Mabuhay, Bank
Eskhata, BCB, BCSC, Bessfa RB, BOM, BURO Bangladesh, Caja Nor Perú, Caja Popular Mexicana,
CamCCUL, Cantilan Bank, Capitec Bank, CAPPED, CARD Bank, CBMO, CCA, CDS, Centenary
Bank, CMAC Arequipa, CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC
Maynas, CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC Trujillo, CMEDFI, CMS, COAC Acción
Rural, COAC Jardín Azuayo, COAC MCCH, COAC Mushuc Runa, COAC Sac Aiet, COAC San José,
CODESARROLLO, Coop Fátima, Coop Universitaria, COOPAC San Martín, COOPAC Santo Cristo,
CRAC Los Andes, Credicoop, Crediscotia, EcoFuturo FFP, Equity Bank, FASL, Fassil FFP, FFECC,
FICO, FIE FFP, FIELCO, FinAmérica, Financiera Familiar, FINCA - UGA, FinComún, FINSOL, FMFB Pakistan, Fortaleza FFP, FUCEC Togo, FULM, Green Bank, INECO, Intellekt, Interfisa, Jemeni, Kafo
Jiginew, Kakum RB, KBSLAB, Khan Bank, Kondo Jigima, K-Rep, LPD Ambengan, LPD Bayung
Gede, LPD Bedha, LPD Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh, LPD Kuta, LPD Pecatu,
LPD Sibetan, LPD Ubung, Mallig Plains RB, MiBanco, Naara RB, New RB of Victorias, NovoBanco
- MOZ, Nyesigiso, OBM, ProCredit - BOL, ProCredit - ECU, ProCredit - GHA, ProCredit - NIC,
ProCredit - SLV, ProCredit Bank - ALB, ProCredit Bank - BGR, ProCredit Bank - BIH, ProCredit
Bank - GEO, ProCredit Bank - KOS, ProCredit Bank - MKD, ProCredit Bank - ROM, ProCredit
56
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2006
RB Solano, RB Sto. Tomas, RB Talisayan, RCPB, Rost, SBS, Sodeistviye (Pyatigorsk), Sodeystviye,
Sonzelle RB, TFS, Toende RB, Upper Manya RB, Valiant RB, Visión Banco, WAGES, XacBank
Methodology: Individual
178
50
100
28
1st Valley Bank, ACBA, AccessBank, ACCOVI, ACME, ACORDE, Actuar Caldas, ADMIC, ADRI, AFK,
AgroCapital, AgroInvest, Agroinvestbank, Alternativa, AMA, AMC, AMC de R.L., Ameen, ASDIR,
ASP Financiera, Banco ADEMI, Banco da Familia, Banco Santiago de Libon, BancoEstado,
BANEX (ex FINDESA), Bank Eskhata, BCB, BCSC, BESA, BRAC, BZMF, Caja Nor Perú, Caja Popular
Mexicana, CAPA, Capitec Bank, CBMO, CEF, Centenary Bank, CEPRODEL, CMAC Arequipa,
CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC Maynas, CMAC Paita,
CMAC Sullana, CMAC Tacna, CMAC Trujillo, CMEDFI, CMM Bogotá, CMM Medellín, COAC
Jardín Azuayo, COAC MCCH, COAC Mushuc Runa, Coop Fátima, Coop Universitaria, COOPAC
San Martín, COOPAC Santo Cristo, CRAC Los Andes, CredAgro NBCO, Credi Fé, CrediAmigo,
Credicoop, CREDIMUJER, Crediscotia, EDPYME Alternativa, EDPYME Confianza, EDPYME Crear
Arequipa, EDPYME Crear Tacna, EDPYME Efectiva, EDPYME Nueva Visión, EDPYME Proempresa,
Equity Bank, Fassil FFP, FED, FFECC, FIDERPAC, FIE FFP, FIE Gran Poder, FIELCO, FinAmérica,
Financiera Fama, Financiera Familiar, FINCA - AFG, FinComún, FINCORP, FMFB - AFG, FMM
Bucaramanga, FMM Popayán, FMSD, FOMIC, Fortaleza FFP, FULM, Fundación CAMPO,
Fundación Nieborowski, FUNDECOCA, FUNSALDE, Genesiss, Green Bank, ICC BluSol, IDESI
Lambayeque, ImerCredit, IMPRO, INECO, INSOTEC, Interactuar, Interfisa, Kafo Jiginew, Khan
Bank, Khushhali Bank, KMB, KosInvest, KRK Ltd, LPD Ambengan, LPD Bayung Gede, LPD Bedha,
LPD Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh, LPD Kuta, LPD Pecatu, LPD Sibetan, LPD
Ubung, MCN, MDF, MEMCO, MiBanco, Microempresas de Antioquia, Microserfin, MIKROFIN,
Mikrofond, Nachala, New RB of Victorias, NOA, NovoBanco - MOZ, OBM, OBS, Partner, PGBB,
PRESTANIC, ProCaja, ProCredit - BOL, ProCredit - ECU, ProCredit - GHA, ProCredit - MDA,
ProCredit - NIC, ProCredit - SLV, ProCredit Bank - ALB, ProCredit Bank - BGR, ProCredit
Bank - BIH, ProCredit Bank - GEO, ProCredit Bank - KOS, ProCredit Bank - MKD, ProCredit
Bank - ROM, ProCredit Bank - UKR, ProCredit Bank Serbia, PRODESA, RB Digos, RB Lebak, RB
Mabitac, RB Oroquieta, RB Solano, RB Sto. Tomas, RB Talisayan, Rost, SBS, Sociedad Cooperativa
PADECOMSM, Sodeistviye (Pyatigorsk), Sodeystviye, SOGESOL, Sunrise, TFS, Valiant RB, VFS,
Visión Banco, WWB Cali
Methodology: Individual/
Solidarity
(Individual & Solidarity; or
Individual, Solidarity & Village
Banking)
224
34
162
28
ABA, ABS-CBN, ACEP Senegal, ACLEDA, ACODEP, ACSI, Actuar Tolima, ADICH, ADIM, ADOPEM,
AGUDESA, Aiyl Bank, Akiba, Al Amana, Al Karama, Al Majmoua, AMK, AMMACTS, AMRET,
AMSSF/MC, Apoyo Integral, AREGAK, ARMP, Asociación Raíz, AVFS, AYNLA, Azal, Azercredit,
Azeri Star, Bai Tushum, Banco Solidario, BancoSol, BanCovelo, BanDesarrollo Microempresas,
BanGente, Bangko Kabayan, Bangko Mabuhay, BASIX, Bereke, BG, BOM, BRAC - AFG, CamCCUL,
Cantilan Bank, CAPPED, CARD Bank, Caritas, CCA, CDRO, CDS, CEADe, CEAPE Maranhão,
CEOSS, CEPESIU, CMS, COAC Acción Rural, COAC Sac Aiet, COAC San José, CODESARROLLO,
CompartamosBanco, Contactar, CREDIT, CREDO, Crystal, DBACD, DECSI, DEMOS SLC, D-Miro,
ECLOF - PHL, EcoFuturo FFP, EDAPROSPO, EKI, Emprender, Enda, ENLACE, ESAF, Eshet, FADES,
FAFIDESS, FAMA OPDF, FAPE, FASL, FATEN, Faulu - UGA, FBPMC, FCBFI, FCC, FDL, FDM, FICO,
Financiera Edyficar, FINCA - ARM, FINCA - ECU, FINCA - GEO, FINCA - KOS, FINCA - NIC,
FINCA - TJK, FinDev, FINSOL, FMCC, FMFB - TJK, FODEM, FODEMI, FONCRESOL, FONDEP,
FONDESOL, FONDESURCO, Fonkoze, FORUS, FOVIDA, FUCEC Togo, FUNBODEM, Fundación
León 2000, Fundación MICROS, Fundación Paraguaya, FUNDAHMICRO, FUNDAMIC, FUNDEA,
FUNDENUSE, FUNDESER, FUNDESPE, Fundusz Mikro, Gasha, Grameen Mendoza, Hermandad
de Honduras OPDF, HKL, HOPE, Horizon, Horizonti, IMON, INMAA, Intellekt, JCF, Jemeni, JSC
Bank Constanta, Kakum RB, KAMURJ, Kasagana-Ka, Kashf, KBSLAB, KEP, KMF, Kompanion,
Kondo Jigima, K-Rep, KRUSHI, KWFT, Lazika Capital, Lead Foundation, LIDER, LOK Microcredit
Foundation, Mallig Plains RB, MED-Net, MFW, MGBB, MI-BOSPO, Microinvest, MIDE, MIKRA,
Mikro ALDI, MLF HUMO, MLF MicroInvest, Moznosti, Naara RB, Nirdhan, NMF, NMFB, Normicro,
NWTF, Nyesigiso, ODEF Financiera S.A., OISL, OLC, OMB, OMO, OMRO, Opportunity Albania,
PADME, PALFSI, Parwaz, PEACE, PRASAC, PRIDE - TZA, PRISMA, PRIZMA, PRODEM FFP, RCPB,
RGVN, SAT, Sathapana Limited, SBACD, SEAP, SED, SEEDS, SEF-ARM, SFPI, SHARE, SINERGIJA,
SKS, Sonzelle RB, Spandana, SWAWS, Tamweelcom, Tchuma, TMSS, Toende RB, TPC, TSPI, UML,
UNRWA, Upper Manya RB, USTOI, VEF, VFC, Viator, Vital Finance, VRFSBS, WAGES, Wasasa,
Wisdom, Women for Women, World Relief - HND, XacBank, Zakoura
Methodology: Solidarity
33
0
26
7
Al Tadamun, AML, ASA, ASHI, Bandhan, Bessfa RB, BSS, BURO Bangladesh, CARD NGO, CEVI,
CFF, CReSA, CZWSDA, DAMEN, DD Bank, ECLOF - ARM, FMFB - Pakistan, Fundación Alternativa,
Fundación San Miguel, Grameen Bank, GV, IDF, Imkoniyat, KMBI, LAPO, Maata-N-Tudu,
Mahasemam - SMILE, MDSL, MikroMaliyye Credit, Rozgar, Saadhana, SEF-ZAF, SMEP
Methodology: Village Banking
52
8
30
14
ABCRDM, ADRA - PER, APED, ASEI, Asociación Arariwa, BFL, BISWA, Cashpor MC, CEP, CRECER,
CRYSOL, Diaconia, FINCA - AZE, FINCA - DRC, FINCA - GTM, FINCA - HND, FINCA - MEX, FINCA
- MWI, FINCA - PER, FINCA - TZA, FINCA - UGA, FINCA - ZMB, Friendship Bridge, Fundación
Espoir, Fundación Mujer, FUNED, Génesis Empresarial, GK, GU, KADET, KAS, Kazama Grameen,
Manuela Ramos, MBK Ventura, MEDF, Metemamen, MFI, ProMujer - BOL, ProMujer - MEX,
ProMujer - NIC, ProMujer - PER, RASS, Sanghamithra, Sarvodaya Nano Finance, SEDA, SKDRDP,
SMSS, SPBD, TSKI, UCADE Ambato, Ujjivan, UOMB
Outreach: Small
(Number of Borrowers < 10,000)
199
21
141
37
ACCOVI, ACORDE, Actuar Caldas, Actuar Tolima, ADICH, ADIM, ADRI, AFK, AgroCapital,
Agroinvestbank, AGUDESA, Al Karama, Al Majmoua, Alternativa, AMA, AMC, AMC de R.L.,
Ameen, ASDIR, ASEI, ASP Financiera, AVFS, Azal, Azercredit, Azeri Star, Bai Tushum, Banco da
Familia, Banco Santiago de Libon, Bangko Kabayan, Bangko Mabuhay, Bank Eskhata,
Microfinance Information Exchange, Inc
57
BULLETIN TABLES
PEER GROUP
MICROBANKING BULLETIN, Issue 18, Spring 2009
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2006
BCB, Bereke, BESA, BOM, BZMF, CAPA, CAPPED, CDRO, CEADe, CEF, CEPESIU, CFF, CMEDFI,
COAC Acción Rural, COAC MCCH, COAC Sac Aiet, COAC San José, Contactar, Coop Fátima,
COOPAC San Martín, COOPAC Santo Cristo, CRAC Los Andes, CredAgro NBCO, Credicoop,
CREDIMUJER, CREDO, Crystal, CZWSDA, DEMOS SLC, ECLOF - ARM, ECLOF - PHL, EDAPROSPO,
EDPYME Crear Tacna, EDPYME Nueva Visión, Emprender, FAPE, FASL, Fassil FFP, FATEN,
FCC, FDM, FFECC, FICO, FIDERPAC, FIE Gran Poder, FINCA - ARM, FINCA - KOS, FINCA - PER,
FINCA - TJK, FINCORP, FinDev, FMFB - TJK, FODEM, FODEMI, FOMIC, FONCRESOL, FONDESOL,
FONDESURCO, Fortaleza FFP, FOVIDA, Friendship Bridge, FULM, FUNBODEM, Fundación
Alternativa, Fundación CAMPO, Fundación León 2000, Fundación MICROS, Fundación Mujer,
Fundación San Miguel, FUNDAMIC, FUNDECOCA, FUNDESPE, FUNSALDE, Gasha, Genesiss,
Grameen Mendoza, Hermandad de Honduras OPDF, HOPE, Horizon, Horizonti, ICC BluSol,
IDESI Lambayeque, ImerCredit, Imkoniyat, IMPRO, INMAA, INSOTEC, Intellekt, Jemeni, Kakum
RB, KAMURJ, Kasagana-Ka, KEP, KosInvest, KRK Ltd, Lazika Capital, LIDER, LPD Ambengan, LPD
Bayung Gede, LPD Bedha, LPD Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh, LPD Kuta, LPD
Pecatu, LPD Sibetan, LPD Ubung, Maata-N-Tudu, MCN, MDF, MDSL, MEDF, MED-Net, MEMCO,
Metemamen, Microinvest, Microserfin, MIDE, Mikro ALDI, Mikrofond, MikroMaliyye Credit,
MLF HUMO, MLF MicroInvest, Moznosti, Naara RB, Nachala, New RB of Victorias, NMFB, NOA,
Normicro, OBS, OLC, OMRO, Parwaz, PRESTANIC, ProCaja, ProCredit - GHA, RB Digos, RB Lebak,
RB Mabitac, RB Oroquieta, RB Solano, RB Sto. Tomas, Rost, Rozgar, SBS, SEAP, SED, SEF-ARM,
SINERGIJA, Sociedad Cooperativa PADECOMSM, Sodeistviye (Pyatigorsk), Sodeystviye,
Sonzelle RB, SPBD, Tchuma, TFS, Toende RB, UCADE Ambato, Upper Manya RB, USTOI, Valiant
RB, VEF, Viator, VRFSBS, WAGES, Women for Women
Outreach: Medium
(Number of Borrowers ≥ 10,000
and ≤ 30,000)
128
27
88
13
AccessBank, ACEP Senegal, ACME, ADMIC, ADRA - PER, AgroInvest, Akiba, Al Tadamun,
AMSSF/MC, APED, Apoyo Integral, AREGAK, ASHI, Asociación Arariwa, Asociación Raíz, AYNLA,
BanCovelo, BG, Caja Nor Perú, Cantilan Bank, Caritas, CBMO, CDS, CEAPE Maranhão, CEOSS,
CEPRODEL, CEVI, CMAC Del Santa, CMAC Maynas, CMAC Paita, CMAC Tacna, COAC Jardín
Azuayo, COAC Mushuc Runa, CODESARROLLO, CREDIT, CReSA, CRYSOL, DAMEN, DD Bank,
D-Miro, EcoFuturo FFP, EDPYME Alternativa, EDPYME Crear Arequipa, EDPYME Proempresa,
EKI, ENLACE, Eshet, FADES, FAFIDESS, FAMA OPDF, Faulu - UGA, FCBFI, FED, FINCA - AFG,
FINCA - DRC, FINCA - GEO, FINCA - GTM, FINCA - HND, FINCA - MWI, FINCA - NIC, FINCA - ZMB,
FINSOL, FMFB - AFG, Fonkoze, FORUS, Fundación Espoir, Fundación Nieborowski, Fundación
Paraguaya, FUNDAHMICRO, FUNDEA, FUNDENUSE, FUNDESER, Fundusz Mikro, FUNED, HKL,
IMON, Interactuar, JSC Bank Constanta, KADET, Kazama Grameen, KMF, Kompanion, Kondo
Jigima, LOK Microcredit Foundation, Mallig Plains RB, Manuela Ramos, MBK Ventura, MFW, MIBOSPO, Microempresas de Antioquia, MIKRA, MIKROFIN, NMF, NovoBanco - MOZ, Nyesigiso,
OBM, ODEF Financiera S.A., OMB, Opportunity Albania, PALFSI, PEACE, PRISMA, PRIZMA,
ProCredit - MDA, ProCredit Bank - ALB, ProCredit Bank - MKD, ProCredit Bank - ROM, PRODESA,
ProMujer - MEX, ProMujer - NIC, RASS, RB Talisayan, RGVN, Sathapana Limited, SBACD, SEDA,
SFPI, SMEP, SMSS, SOGESOL, Sunrise, Tamweelcom, Ujjivan, UNRWA, UOMB, Vital Finance,
Wasasa, World Relief - HND
Outreach: Large
(Number of Borrowers > 30,000)
160
44
89
27
1st Valley Bank, ABA, ABCRDM, ABS-CBN, ACBA, ACLEDA, ACODEP, ACSI, ADOPEM, Aiyl
Bank, Al Amana, AMK, AML, AMMACTS, AMRET, ARMP, ASA, Banco ADEMI, Banco Solidario,
BancoEstado, BancoSol, BanDesarrollo Microempresas, Bandhan, BANEX (ex FINDESA),
BanGente, BASIX, BCSC, Bessfa RB, BFL, BISWA, BRAC, BRAC - AFG, BSS, BURO Bangladesh,
Caja Popular Mexicana, CamCCUL, Capitec Bank, CARD Bank, CARD NGO, Cashpor MC, CCA,
Centenary Bank, CEP, CMAC Arequipa, CMAC Cusco, CMAC Huancayo, CMAC Ica, CMAC
Sullana, CMAC Trujillo, CMM Bogotá, CMM Medellín, CMS, CompartamosBanco, Coop
Universitaria, CRECER, Credi Fé, CrediAmigo, Crediscotia, DBACD, DECSI, Diaconia, EDPYME
Confianza, EDPYME Efectiva, Enda, Equity Bank, ESAF, FBPMC, FDL, FIE FFP, FIELCO, FinAmérica,
Financiera Edyficar, Financiera Fama, Financiera Familiar, FINCA - AZE, FINCA - ECU, FINCA MEX, FINCA - TZA, FINCA - UGA, FinComún, FMCC, FMFB - Pakistan, FMM Bucaramanga, FMM
Popayán, FMSD, FONDEP, FUCEC Togo, Génesis Empresarial, GK, Grameen Bank, Green Bank,
GU, GV, IDF, INECO, Interfisa, JCF, Kafo Jiginew, KAS, Kashf, KBSLAB, Khan Bank, Khushhali Bank,
KMB, KMBI, K-Rep, KRUSHI, KWFT, LAPO, Lead Foundation, Mahasemam - SMILE, MFI, MGBB,
MiBanco, Nirdhan, NWTF, OISL, OMO, PADME, Partner, PGBB, PRASAC, PRIDE - TZA, ProCredit
- BOL, ProCredit - ECU, ProCredit - NIC, ProCredit - SLV, ProCredit Bank - BGR, ProCredit Bank BIH, ProCredit Bank - GEO, ProCredit Bank - KOS, ProCredit Bank - UKR, ProCredit Bank Serbia,
PRODEM FFP, ProMujer - BOL, ProMujer - PER, RCPB, Saadhana, Sanghamithra, Sarvodaya Nano
Finance, SAT, SEEDS, SEF-ZAF, SHARE, SKDRDP, SKS, Spandana, SWAWS, TMSS, TPC, TSKI, TSPI,
UML, VFC, VFS, Visión Banco, Wisdom, WWB Cali, XacBank, Zakoura
Profit Status: Profit
170
43
111
16
1st Valley Bank, ACBA, AccessBank, ACCOVI, ACLEDA, ACSI, ADOPEM, AgroInvest,
Agroinvestbank, Akiba, AMC de R.L., Ameen, AMK, AML, AMRET, Apoyo Integral, AREGAK,
ASP Financiera, AVFS, Banco ADEMI, Banco Santiago de Libon, Banco Solidario, BancoEstado,
BancoSol, BanCovelo, BanDesarrollo Microempresas, BANEX (ex FINDESA), BanGente,
Bangko Kabayan, Bangko Mabuhay, Bank Eskhata, BASIX, BCB, BCSC, Bessfa RB, BFL, BG, BOM,
Caja Nor Perú, Cantilan Bank, Capitec Bank, CARD Bank, CBMO, CCA, CDS, Centenary Bank,
CompartamosBanco, CRAC Los Andes, Credi Fé, CrediAmigo, Crediscotia, CREDIT, DD Bank,
DECSI, EcoFuturo FFP, EDPYME Alternativa, EDPYME Confianza, EDPYME Crear Arequipa,
EDPYME Crear Tacna, EDPYME Efectiva, EDPYME Nueva Visión, EDPYME Proempresa,
ENLACE, Equity Bank, Eshet, FASL, Fassil FFP, Faulu - UGA, FICO, FIE FFP, FIE Gran Poder, FIELCO,
FinAmérica, Financiera Edyficar, Financiera Fama, Financiera Familiar, FINCA - ECU, FINCA - TJK,
FINCA - UGA, FINCA - ZMB, FinComún, FINCORP, FINSOL, FMFB - AFG, FMFB - Pakistan, FMFB TJK, Fortaleza FFP, FORUS, Gasha, Grameen Bank, Green Bank, IMON, INECO, Interfisa, KADET,
58
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2006
Kakum RB, KBSLAB, Khan Bank, Khushhali Bank, KMB, K-Rep, KWFT, Mahasemam - SMILE, Mallig
Plains RB, MCN, MDSL, Metemamen, MGBB, MiBanco, Microinvest, Microserfin, Mikrofond,
Naara RB, New RB of Victorias, Nirdhan, NMFB, NovoBanco - MOZ, OBM, OBS, OISL, OMB, OMO,
PEACE, PGBB, ProCredit - BOL, ProCredit - ECU, ProCredit - GHA, ProCredit - MDA, ProCredit NIC, ProCredit - SLV, ProCredit Bank - ALB, ProCredit Bank - BGR, ProCredit Bank - BIH, ProCredit
Bank - GEO, ProCredit Bank - KOS, ProCredit Bank - MKD, ProCredit Bank - ROM, ProCredit
Bank - UKR, ProCredit Bank Serbia, PRODEM FFP, RB Digos, RB Lebak, RB Mabitac, RB Oroquieta,
RB Solano, RB Sto. Tomas, RB Talisayan, Rozgar, Sarvodaya Nano Finance, Sathapana Limited,
SED, SEF-ARM, SFPI, SHARE, SKS, SOGESOL, Sonzelle RB, Spandana, TFS, Toende RB, TPC, Ujjivan,
UML, Upper Manya RB, Valiant RB, VFC, Visión Banco, Wasasa, Wisdom, XacBank
Profit Status: Not for Profit
317
49
207
61
ABA, ABCRDM, ABS-CBN, ACEP Senegal, ACME, ACODEP, ACORDE, Actuar Caldas, Actuar Tolima,
ADICH, ADIM, ADMIC, ADRA - PER, ADRI, AFK, AgroCapital, AGUDESA, Aiyl Bank, Al Amana, Al
Karama, Al Majmoua, Al Tadamun, Alternativa, AMA, AMC, AMMACTS, AMSSF/MC, APED, ARMP,
ASA, ASDIR, ASEI, ASHI, Asociación Arariwa, Asociación Raíz, AYNLA, Azal, Azercredit, Azeri Star,
Bai Tushum, Banco da Familia, Bandhan, Bereke, BESA, BISWA, BRAC, BRAC - AFG, BSS, BURO
Bangladesh, BZMF, Caja Popular Mexicana, CamCCUL, CAPA, CAPPED, CARD NGO, Caritas,
Cashpor MC, CDRO, CEADe, CEAPE Maranhão, CEF, CEOSS, CEP, CEPESIU, CEPRODEL, CEVI, CFF,
CMAC Arequipa, CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC Maynas,
CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC Trujillo, CMEDFI, CMM Bogotá, CMM Medellín,
CMS, COAC Acción Rural, COAC Jardín Azuayo, COAC MCCH, COAC Mushuc Runa, COAC Sac
Aiet, COAC San José, CODESARROLLO, Contactar, Coop Fátima, Coop Universitaria, COOPAC
San Martín, COOPAC Santo Cristo, CRECER, CredAgro NBCO, Credicoop, CREDIMUJER, CREDO,
CReSA, CRYSOL, Crystal, CZWSDA, DAMEN, DBACD, DEMOS SLC, Diaconia, D-Miro, ECLOF ARM, ECLOF - PHL, EDAPROSPO, EKI, Emprender, Enda, ESAF, FADES, FAFIDESS, FAMA OPDF,
FAPE, FATEN, FBPMC, FCBFI, FCC, FDL, FDM, FED, FFECC, FIDERPAC, FINCA - AFG, FINCA - ARM,
FINCA - AZE, FINCA - DRC, FINCA - GEO, FINCA - GTM, FINCA - HND, FINCA - KOS, FINCA - MEX,
FINCA - MWI, FINCA - NIC, FINCA - PER, FINCA - TZA, FinDev, FMCC, FMM Bucaramanga, FMM
Popayán, FMSD, FODEM, FODEMI, FOMIC, FONCRESOL, FONDEP, FONDESOL, FONDESURCO,
Fonkoze, FOVIDA, Friendship Bridge, FUCEC Togo, FULM, FUNBODEM, Fundación Alternativa,
Fundación CAMPO, Fundación Espoir, Fundación León 2000, Fundación MICROS, Fundación
Mujer, Fundación Nieborowski, Fundación Paraguaya, Fundación San Miguel, FUNDAHMICRO,
FUNDAMIC, FUNDEA, FUNDECOCA, FUNDENUSE, FUNDESER, FUNDESPE, Fundusz Mikro,
FUNED, FUNSALDE, Génesis Empresarial, Genesiss, GK, Grameen Mendoza, GU, GV, Hermandad
de Honduras OPDF, HKL, HOPE, Horizon, Horizonti, ICC BluSol, IDESI Lambayeque, IDF,
ImerCredit, Imkoniyat, IMPRO, INMAA, INSOTEC, Intellekt, Interactuar, JCF, Jemeni, JSC Bank
Constanta, Kafo Jiginew, KAMURJ, KAS, Kasagana-Ka, Kashf, Kazama Grameen, KEP, KMBI, KMF,
Kompanion, Kondo Jigima, KosInvest, KRK Ltd, KRUSHI, LAPO, Lazika Capital, Lead Foundation,
LIDER, LOK Microcredit Foundation, LPD Ambengan, LPD Bayung Gede, LPD Bedha, LPD
Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh, LPD Kuta, LPD Pecatu, LPD Sibetan, LPD Ubung,
Maata-N-Tudu, Manuela Ramos, MBK Ventura, MDF, MEDF, MED-Net, MEMCO, MFI, MFW,
MI-BOSPO, Microempresas de Antioquia, MIDE, MIKRA, Mikro ALDI, MIKROFIN, MikroMaliyye
Credit, MLF HUMO, MLF MicroInvest, Moznosti, Nachala, NMF, NOA, Normicro, NWTF,
Nyesigiso, ODEF Financiera S.A., OLC, OMRO, Opportunity Albania, PADME, PALFSI, Partner,
Parwaz, PRASAC, PRESTANIC, PRIDE - TZA, PRISMA, PRIZMA, ProCaja, PRODESA, ProMujer
- BOL, ProMujer - MEX, ProMujer - NIC, ProMujer - PER, RASS, RCPB, RGVN, Rost, Saadhana,
Sanghamithra, SAT, SBACD, SBS, SEAP, SEDA, SEEDS, SEF-ZAF, SINERGIJA, SKDRDP, SMEP, SMSS,
Sociedad Cooperativa PADECOMSM, Sodeistviye (Pyatigorsk), Sodeystviye, SPBD, Sunrise,
SWAWS, Tamweelcom, Tchuma, TMSS, TSKI, TSPI, UCADE Ambato, UNRWA, UOMB, USTOI, VEF,
VFS, Viator, Vital Finance, VRFSBS, WAGES, Women for Women, World Relief - HND, WWB Cali,
Zakoura
Region: Africa
(sub-Saharan Africa)
69
1
60
8
ACEP Senegal, ACSI, Akiba, APED, AVFS, Bessfa RB, BG, BOM, CamCCUL, Capitec Bank, CAPPED,
CCA, CDS, Centenary Bank, CFF, CMS, DECSI, Equity Bank, Eshet, FASL, Faulu - UGA, FCC, FDM,
FINCA - DRC, FINCA - MWI, FINCA - TZA, FINCA - UGA, FINCA - ZMB, FINCORP, FUCEC Togo,
Gasha, Jemeni, KADET, Kafo Jiginew, Kakum RB, Kondo Jigima, K-Rep, KWFT, LAPO, MaataN-Tudu, MDSL, MED-Net, Metemamen, Naara RB, NovoBanco - MOZ, Nyesigiso, OISL, OMO,
PADME, PEACE, PRIDE - TZA, ProCredit - GHA, RCPB, SAT, SEAP, SEDA, SEF-ZAF, SFPI, SMEP,
Sonzelle RB, Tchuma, Toende RB, UML, UOMB, Upper Manya RB, Vital Finance, WAGES, Wasasa,
Wisdom
Region: Asia
(South & East Asia)
117
4
74
39
1st Valley Bank, ABCRDM, ABS-CBN, ACLEDA, AMK, AML, AMMACTS, AMRET, ARMP, ASA, ASHI,
Banco Santiago de Libon, Bandhan, Bangko Kabayan, Bangko Mabuhay, BASIX, BCB, BFL,
BISWA, BRAC, BRAC - AFG, BSS, BURO Bangladesh, Cantilan Bank, CARD Bank, CARD NGO,
Cashpor MC, CBMO, CEP, CEVI, CMEDFI, CREDIT, CReSA, CZWSDA, DAMEN, DD Bank, ECLOF PHL, ESAF, FCBFI, FICO, FINCA - AFG, FMFB - AFG, FMFB - Pakistan, GK, Grameen Bank, Green
Bank, GU, GV, HKL, IDF, JCF, KAS, Kasagana-Ka, Kashf, Kazama Grameen, KBSLAB, Khushhali
Bank, KMBI, KRUSHI, LPD Ambengan, LPD Bayung Gede, LPD Bedha, LPD Buahan, LPD Celuk,
LPD Ketewel, LPD Kukuh, LPD Kuta, LPD Pecatu, LPD Sibetan, LPD Ubung, Mahasemam
- SMILE, Mallig Plains RB, MBK Ventura, MEDF, MFI, MGBB, New RB of Victorias, Nirdhan,
NMFB, NWTF, OMB, PALFSI, Parwaz, PGBB, PRASAC, RASS, RB Digos, RB Lebak, RB Mabitac, RB
Oroquieta, RB Solano, RB Sto. Tomas, RB Talisayan, RGVN, Rozgar, Saadhana, Sanghamithra,
Sarvodaya Nano Finance, Sathapana Limited, SED, SEEDS, SHARE, SKDRDP, SKS, SMSS,
Spandana, SPBD, SWAWS, TMSS, TPC, TSKI, TSPI, Ujjivan, Valiant RB, VEF, VFC, VFS
Microfinance Information Exchange, Inc
59
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
PARTICIPATING INSITUTIONS
**
*
SIMPLE PEER GROUPS 2006
Region: ECA
(Eastern Europe & Central Asia)
98
8
78
12
ACBA, AccessBank, AFK, AgroInvest, Agroinvestbank, Aiyl Bank, Alternativa, AREGAK,
Azercredit, Azeri Star, Bai Tushum, Bank Eskhata, Bereke, BESA, BZMF, CAPA, CEF, CredAgro
NBCO, CREDO, Crystal, DEMOS SLC, ECLOF - ARM, EKI, FFECC, FINCA - ARM, FINCA - AZE, FINCA
- GEO, FINCA - KOS, FINCA - TJK, FinDev, FMCC, FMFB - TJK, FORUS, FULM, Fundusz Mikro,
HOPE, Horizon, Horizonti, ImerCredit, Imkoniyat, IMON, INECO, Intellekt, JSC Bank Constanta,
KAMURJ, KEP, Khan Bank, KMB, KMF, Kompanion, KosInvest, KRK Ltd, Lazika Capital, LIDER,
LOK Microcredit Foundation, MDF, MI-BOSPO, Microinvest, MIKRA, Mikro ALDI, MIKROFIN,
Mikrofond, MikroMaliyye Credit, MLF HUMO, MLF MicroInvest, Moznosti, Nachala, NOA,
Normicro, OBM, OBS, OMRO, Opportunity Albania, Partner, PRIZMA, ProCredit - MDA, ProCredit
Bank - ALB, ProCredit Bank - BGR, ProCredit Bank - BIH, ProCredit Bank - GEO, ProCredit Bank KOS, ProCredit Bank - MKD, ProCredit Bank - ROM, ProCredit Bank - UKR, ProCredit Bank Serbia,
Rost, SBS, SEF-ARM, SINERGIJA, Sodeistviye (Pyatigorsk), Sodeystviye, Sunrise, TFS, USTOI,
Viator, VRFSBS, Women for Women, XacBank
Region: LAC
(Latin America & the Caribbean)
179
76
91
12
ACCOVI, ACME, ACODEP, ACORDE, Actuar Caldas, Actuar Tolima, ADICH, ADIM, ADMIC,
ADOPEM, ADRA - PER, ADRI, AgroCapital, AGUDESA, AMA, AMC de R.L., Apoyo Integral, ASDIR,
ASEI, Asociación Arariwa, Asociación Raíz, ASP Financiera, AYNLA, Banco ADEMI, Banco da
Familia, Banco Solidario, BancoEstado, BancoSol, BanCovelo, BanDesarrollo Microempresas,
BANEX (ex FINDESA), BanGente, BCSC, Caja Nor Perú, Caja Popular Mexicana, Caritas, CDRO,
CEADe, CEAPE Maranhão, CEPESIU, CEPRODEL, CMAC Arequipa, CMAC Cusco, CMAC Del Santa,
CMAC Huancayo, CMAC Ica, CMAC Maynas, CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC
Trujillo, CMM Bogotá, CMM Medellín, COAC Acción Rural, COAC Jardín Azuayo, COAC MCCH,
COAC Mushuc Runa, COAC Sac Aiet, COAC San José, CODESARROLLO, CompartamosBanco,
Contactar, Coop Fátima, Coop Universitaria, COOPAC San Martín, COOPAC Santo Cristo, CRAC
Los Andes, CRECER, Credi Fé, CrediAmigo, Credicoop, CREDIMUJER, Crediscotia, CRYSOL,
Diaconia, D-Miro, EcoFuturo FFP, EDAPROSPO, EDPYME Alternativa, EDPYME Confianza,
EDPYME Crear Arequipa, EDPYME Crear Tacna, EDPYME Efectiva, EDPYME Nueva Visión,
EDPYME Proempresa, Emprender, ENLACE, FADES, FAFIDESS, FAMA OPDF, FAPE, Fassil FFP, FDL,
FED, FIDERPAC, FIE FFP, FIE Gran Poder, FIELCO, FinAmérica, Financiera Edyficar, Financiera
Fama, Financiera Familiar, FINCA - ECU, FINCA - GTM, FINCA - HND, FINCA - MEX, FINCA - NIC,
FINCA - PER, FinComún, FINSOL, FMM Bucaramanga, FMM Popayán, FMSD, FODEM, FODEMI,
FOMIC, FONCRESOL, FONDESOL, FONDESURCO, Fonkoze, Fortaleza FFP, FOVIDA, Friendship
Bridge, FUNBODEM, Fundación Alternativa, Fundación CAMPO, Fundación Espoir, Fundación
León 2000, Fundación MICROS, Fundación Mujer, Fundación Nieborowski, Fundación
Paraguaya, Fundación San Miguel, FUNDAHMICRO, FUNDAMIC, FUNDEA, FUNDECOCA,
FUNDENUSE, FUNDESER, FUNDESPE, FUNED, FUNSALDE, Génesis Empresarial, Genesiss,
Grameen Mendoza, Hermandad de Honduras OPDF, ICC BluSol, IDESI Lambayeque, IMPRO,
INSOTEC, Interactuar, Interfisa, Manuela Ramos, MCN, MiBanco, Microempresas de Antioquia,
Microserfin, MIDE, ODEF Financiera S.A., OLC, PRESTANIC, PRISMA, ProCaja, ProCredit - BOL,
ProCredit - ECU, ProCredit - NIC, ProCredit - SLV, PRODEM FFP, PRODESA, ProMujer - BOL,
ProMujer - MEX, ProMujer - NIC, ProMujer - PER, Sociedad Cooperativa PADECOMSM,
SOGESOL, UCADE Ambato, Visión Banco, World Relief - HND, WWB Cali
Region: MENA
(Middle East & North Africa)
24
3
15
6
ABA, Al Amana, Al Karama, Al Majmoua, Al Tadamun, AMC, Ameen, AMSSF/MC, Azal, CEOSS,
DBACD, Enda, FATEN, FBPMC, FONDEP, INMAA, Lead Foundation, MEMCO, MFW, NMF, SBACD,
Tamweelcom, UNRWA, Zakoura
Scale: Small
(GLP in USD, LAC < 4,000,000;
Others< 2,000,000)
123
8
91
24
Actuar Caldas, Actuar Tolima, ADICH, ADIM, ADRA - PER, AGUDESA, Al Karama, Alternativa,
AMA, APED, ASDIR, ASEI, ASHI, Asociación Arariwa, AVFS, AYNLA, Azal, Azeri Star, Banco da
Familia, Banco Santiago de Libon, Bereke, Bessfa RB, BG, BOM, CAPPED, CDRO, CEADe, CEPESIU,
CEVI, CFF, CMEDFI, COAC Acción Rural, CREDIMUJER, Crystal, CZWSDA, ECLOF - ARM, ECLOF
- PHL, EDAPROSPO, Emprender, FAPE, FCBFI, FCC, FDM, FIDERPAC, FINCA - GTM, FINCA - MWI,
FINCA - PER, FINCA - ZMB, FOMIC, FONCRESOL, FONDESOL, FONDESURCO, FOVIDA, Friendship
Bridge, Fundación Alternativa, Fundación CAMPO, Fundación MICROS, Fundación Mujer,
Fundación San Miguel, FUNDAHMICRO, FUNDAMIC, FUNDECOCA, FUNDESPE, FUNSALDE,
Gasha, Genesiss, Grameen Mendoza, Horizon, Horizonti, IDESI Lambayeque, ImerCredit,
Imkoniyat, IMPRO, INMAA, INSOTEC, Intellekt, Kasagana-Ka, KosInvest, Lazika Capital, LPD
Ambengan, LPD Bayung Gede, LPD Bedha, LPD Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh,
LPD Sibetan, LPD Ubung, Maata-N-Tudu, Manuela Ramos, MBK Ventura, MDSL, MEDF, MEDNet, Metemamen, MIDE, MLF HUMO, Naara RB, New RB of Victorias, NMF, NMFB, OLC, Parwaz,
ProCaja, ProMujer - NIC, RB Lebak, RB Sto. Tomas, Rozgar, SBS, SEAP, SED, Sociedad Cooperativa
PADECOMSM, Sonzelle RB, SPBD, TFS, Toende RB, UCADE Ambato, Ujjivan, UOMB, Upper
Manya RB, USTOI, VEF, VRFSBS
Scale: Medium
(GLP in USD, LAC ≥ 4,000,000
and ≤ 15,000,000; Others ≥
2,000,000 and ≤ 8,000,000)
163
27
108
28
ABCRDM, ABS-CBN, ACME, ADMIC, ADRI, AFK, Al Majmoua, Al Tadamun, AMC, AMC de
R.L., Ameen, AMK, AMMACTS, AMSSF/MC, ASP Financiera, Azercredit, BanCovelo, Bangko
Mabuhay, BCB, BZMF, Cantilan Bank, CARD Bank, Caritas, CBMO, CEAPE Maranhão, CEF, CEOSS,
CEPRODEL, COAC MCCH, COAC Sac Aiet, COAC San José, Contactar, COOPAC San Martín,
COOPAC Santo Cristo, CRAC Los Andes, Credicoop, CREDIT, CREDO, CReSA, CRYSOL, DAMEN,
DD Bank, DEMOS SLC, Diaconia, D-Miro, EDPYME Alternativa, EDPYME Crear Tacna, EDPYME
Efectiva, EDPYME Nueva Visión, ENLACE, Eshet, FAFIDESS, FAMA OPDF, Fassil FFP, FATEN,
Faulu - UGA, FED, FFECC, FIE Gran Poder, FINCA - AFG, FINCA - ARM, FINCA - DRC, FINCA - HND,
FINCA - NIC, FINCA - TJK, FINCA - TZA, FinDev, FMFB - TJK, FMSD, FODEM, FODEMI, Fonkoze,
FULM, FUNBODEM, Fundación Espoir, Fundación León 2000, Fundación Paraguaya, FUNDEA,
FUNDENUSE, FUNDESER, FUNED, GU, Hermandad de Honduras OPDF, HKL, HOPE, ICC
60
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2006
BluSol, IDF, IMON, KADET, Kakum RB, KAMURJ, Kazama Grameen, KBSLAB, KMBI, Kompanion,
Kondo Jigima, KRUSHI, LAPO, Lead Foundation, LIDER, LPD Pecatu, Mallig Plains RB, MCN,
MDF, MEMCO, MGBB, Microempresas de Antioquia, Microinvest, Microserfin, Mikro ALDI,
Mikrofond, MikroMaliyye Credit, MLF MicroInvest, Nachala, Nirdhan, NOA, Normicro, NWTF,
ODEF Financiera S.A., OMB, PALFSI, PEACE, PGBB, PRESTANIC, PRISMA, PRODESA, ProMujer BOL, ProMujer - MEX, ProMujer - PER, RASS, RB Digos, RB Mabitac, RB Oroquieta, RB Solano, RB
Talisayan, RGVN, Rost, Saadhana, Sanghamithra, SAT, SBACD, SEDA, SEF-ARM, SEF-ZAF, SFPI,
SMEP, SMSS, Sodeistviye (Pyatigorsk), Sodeystviye, SOGESOL, Tchuma, TPC, UNRWA, Valiant RB,
VFC, VFS, Viator, Vital Finance, WAGES, Wasasa, Wisdom, Women for Women, World Relief - HND
Scale: Large
(GLP in USD, LAC > 15,000,000;
Others > 8,000,000)
201
57
119
25
1st Valley Bank, ABA, ACBA, AccessBank, ACCOVI, ACEP Senegal, ACLEDA, ACODEP, ACORDE,
ACSI, ADOPEM, AgroCapital, AgroInvest, Agroinvestbank, Aiyl Bank, Akiba, Al Amana, AML,
AMRET, Apoyo Integral, AREGAK, ARMP, ASA, Asociación Raíz, Bai Tushum, Banco ADEMI,
Banco Solidario, BancoEstado, BancoSol, BanDesarrollo Microempresas, Bandhan, BANEX (ex
FINDESA), BanGente, Bangko Kabayan, Bank Eskhata, BASIX, BCSC, BESA, BFL, BISWA, BRAC,
BRAC - AFG, BSS, BURO Bangladesh, Caja Nor Perú, Caja Popular Mexicana, CamCCUL, CAPA,
Capitec Bank, CARD NGO, Cashpor MC, CCA, CDS, Centenary Bank, CEP, CMAC Arequipa,
CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC Maynas, CMAC Paita, CMAC
Sullana, CMAC Tacna, CMAC Trujillo, CMM Bogotá, CMM Medellín, CMS, COAC Jardín Azuayo,
COAC Mushuc Runa, CODESARROLLO, CompartamosBanco, Coop Fátima, Coop Universitaria,
CRECER, CredAgro NBCO, Credi Fé, CrediAmigo, Crediscotia, DBACD, DECSI, EcoFuturo
FFP, EDPYME Confianza, EDPYME Crear Arequipa, EDPYME Proempresa, EKI, Enda, Equity
Bank, ESAF, FADES, FASL, FBPMC, FDL, FICO, FIE FFP, FIELCO, FinAmérica, Financiera Edyficar,
Financiera Fama, Financiera Familiar, FINCA - AZE, FINCA - ECU, FINCA - GEO, FINCA - KOS,
FINCA - MEX, FINCA - UGA, FinComún, FINCORP, FINSOL, FMCC, FMFB - AFG, FMFB - Pakistan,
FMM Bucaramanga, FMM Popayán, FONDEP, Fortaleza FFP, FORUS, FUCEC Togo, Fundación
Nieborowski, Fundusz Mikro, Génesis, Empresarial, GK, Grameen Bank, Green Bank, GV, INECO,
Interactuar, Interfisa, JCF, Jemeni, JSC Bank Constanta, Kafo Jiginew, KAS, Kashf, KEP, Khan
Bank, Khushhali Bank, KMB, KMF, K-Rep, KRK Ltd, KWFT, LOK Microcredit Foundation, LPD Kuta,
Mahasemam - SMILE, MFI, MFW, MiBanco, MI-BOSPO, MIKRA, MIKROFIN, Moznosti, NovoBanco
- MOZ, Nyesigiso, OBM, OBS, OISL, OMO, OMRO, Opportunity Albania, PADME, Partner, PRASAC,
PRIDE - TZA, PRIZMA, ProCredit - BOL, ProCredit - ECU, ProCredit - GHA, ProCredit - MDA,
ProCredit - NIC, ProCredit - SLV, ProCredit Bank - ALB, ProCredit Bank - BGR, ProCredit Bank BIH, ProCredit Bank - GEO, ProCredit Bank - KOS, ProCredit Bank - MKD, ProCredit Bank - ROM,
ProCredit Bank - UKR, ProCredit Bank Serbia, PRODEM FFP, RCPB, Sarvodaya Nano Finance,
Sathapana Limited, SEEDS, SHARE, SINERGIJA, SKDRDP, SKS, Spandana, Sunrise, SWAWS,
Tamweelcom, TMSS, TSKI, TSPI, UML, Visión Banco, WWB Cali, XacBank, Zakoura
Sustainability: FSS
(Financial Self-Sufficiency > 100%)
334
83
201
50
[These names are held confidential]
Sustainability: Non-FSS
(Financial Self-Sufficiency < 100%)
153
9
117
27
[These names are held confidential]
Target Market: Low End
(Avg. Balance per Borrower/
GNI per Capita < 20% and Avg.
Balance per Borrower < USD 150)
173
20
117
36
ABA, ABCRDM, ABS-CBN, ACSI, ADICH, ADIM, ADMIC, ADOPEM, ADRA - PER, AGUDESA, Al
Karama, Al Majmoua, Al Tadamun, AMA, Ameen, AMK, AML, AMMACTS, AMRET, AMSSF/
MC, APED, ASA, ASEI, ASHI, Asociación Arariwa, ASP Financiera, AVFS, AYNLA, Azal, Azeri
Star, Banco da Familia, Banco Santiago de Libon, Bandhan, BASIX, Bereke, Bessfa RB, BFL,
BG, BISWA, BRAC, BSS, BURO Bangladesh, Caja Popular Mexicana, Capitec Bank, CAPPED,
CARD Bank, CARD NGO, Caritas, Cashpor MC, CEAPE Maranhão, CEOSS, CEPESIU, CEVI,
CFF, CMEDFI, CompartamosBanco, CrediAmigo, Credicoop, CREDIMUJER, CReSA, CRYSOL,
CZWSDA, DAMEN, DBACD, DEMOS SLC, EDAPROSPO, EDPYME Alternativa, EDPYME Efectiva,
Enda, ENLACE, ESAF, Eshet, FAPE, FCBFI, FIDERPAC, FINCA - ECU, FINCA - GTM, FINCA - MEX,
FINCA - MWI, FINCA - NIC, FINCA - PER, FINCA - TZA, FINCA - ZMB, FinComún, FMSD, FODEMI,
FONDEP, FONDESOL, Friendship Bridge, Fundación Alternativa, Fundación Espoir, Fundación
MICROS, Fundación Mujer, Fundación San Miguel, FUNDAMIC, ABA, ABCRDM, ABS-CBN, ACSI,
ADICH, ADIM, ADMIC, ADOPEM, ADRA - PER, AGUDESA, Al Karama, Al Majmoua, Al Tadamun,
AMA, Ameen, AMK, AML, AMMACTS, AMRET, AMSSF/MC, APED, ASA, ASEI, ASHI, Asociación
Arariwa, ASP Financiera, AVFS, AYNLA, Azal, Azeri Star, Banco da Familia, Banco Santiago de
Libon, Bandhan, BASIX, Bereke, Bessfa RB, BFL, BG, BISWA, BRAC, BSS, BURO Bangladesh, Caja
Popular Mexicana, Capitec Bank, CAPPED, CARD Bank, CARD NGO, Caritas, Cashpor MC, CEAPE
Maranhão, CEOSS, CEPESIU, CEVI, CFF, CMEDFI, CompartamosBanco, CrediAmigo, Credicoop,
CREDIMUJER, CReSA, CRYSOL, CZWSDA, DAMEN, DBACD, DEMOS SLC, EDAPROSPO, EDPYME
Alternativa, EDPYME Efectiva, Enda, ENLACE, ESAF, Eshet, FAPE, FCBFI, FIDERPAC, FINCA - ECU,
FINCA - GTM, FINCA - MEX, FINCA - MWI, FINCA - NIC, FINCA - PER, FINCA - TZA, FINCA - ZMB,
FinComún, FMSD, FODEMI, FONDEP, FONDESOL, Friendship Bridge, Fundación Alternativa,
Fundación Espoir, Fundación MICROS, Fundación Mujer, Fundación San Miguel, FUNDAMIC,
FUNDECOCA, FUNDESPE, GK, Grameen Bank, Grameen Mendoza, GU, GV, IDESI Lambayeque,
IDF, INMAA, JCF, KAS, Kasagana-Ka, Kazama Grameen, Khushhali Bank, KMBI, LAPO, Lead
Foundation, Maata-N-Tudu, Mahasemam - SMILE, Mallig Plains RB, Manuela Ramos, MBK
Ventura, MEDF, Metemamen, MFI, MFW, MGBB, Microserfin, MIDE, Nirdhan, NMF, NWTF, OLC,
OMB, OMO, PALFSI, Parwaz, PRISMA, ProCaja, ProMujer - BOL, ProMujer - MEX, ProMujer - PER,
RASS, RB Talisayan, RGVN, Saadhana, Sanghamithra, Sarvodaya Nano Finance, SAT, SBACD,
SEAP, SED, SEDA, SEEDS, SEF-ZAF, SFPI, SHARE, SKDRDP, SKS, SMSS, Spandana, SPBD, SWAWS,
Tamweelcom, TMSS, TPC, TSKI, TSPI, UCADE Ambato, Ujjivan, UOMB, VEF, VFS, Viator, Wasasa,
Wisdom, Zakoura
Microfinance Information Exchange, Inc
61
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
PARTICIPATING INSITUTIONS
**
*
SIMPLE PEER GROUPS 2006
Target Market: Broad
(Avg. Balance per Borrower/GNI
per Capita ≥ 20% and ≤ 150%)
261
67
159
35
1st Valley Bank, ACBA, ACME, ACODEP, Actuar Caldas, Actuar Tolima, AgroInvest, Al Amana,
Alternativa, AMC, AMC de R.L., Apoyo Integral, AREGAK, ASDIR, Asociación Raíz, Azercredit,
Banco ADEMI, Banco Solidario, BancoEstado, BanCovelo, BanDesarrollo Microempresas,
BanGente, Bangko Kabayan, Bangko Mabuhay, BCB, BCSC, BOM, BRAC - AFG, Caja Nor Perú,
CamCCUL, Cantilan Bank, CAPA, CBMO, CCA, CDRO, CDS, CEADe, CEF, CEP, CEPRODEL, CMAC
Arequipa, CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC Maynas, CMAC
Paita, CMAC Sullana, CMAC Tacna, CMAC Trujillo, CMM Bogotá, CMM Medellín, COAC Acción
Rural, COAC Jardín Azuayo, COAC MCCH, COAC Mushuc Runa, COAC Sac Aiet, COAC San José,
CODESARROLLO, Contactar, Coop Universitaria, COOPAC San Martín, COOPAC Santo Cristo,
CRAC Los Andes, CRECER, Credi Fé, Crediscotia, CREDIT, CREDO, Crystal, DD Bank, DECSI,
Diaconia, D-Miro, ECLOF - ARM, ECLOF - PHL, EcoFuturo FFP, EDPYME Confianza, EDPYME
Crear Arequipa, EDPYME Crear Tacna, EDPYME Nueva Visión, EDPYME Proempresa, EKI,
Emprender, Equity Bank, FADES, FAFIDESS, FAMA OPDF, Fassil FFP, FATEN, Faulu - UGA, FBPMC,
FCC, FDL, FDM, FED, FFECC, FICO, FIE Gran Poder, FIELCO, FinAmérica, Financiera Edyficar,
Financiera Fama, Financiera Familiar, FINCA - AFG, FINCA - ARM, FINCA - AZE, FINCA - GEO,
FINCA - HND, FINCA - KOS, FINCA - TJK, FINCA - UGA, FINCORP, FinDev, FINSOL, FMCC, FMFB
- Pakistan, FMM Bucaramanga, FMM Popayán, FODEM, FOMIC, FONCRESOL, FONDESURCO,
Fonkoze, FORUS, FOVIDA, FULM, FUNBODEM, Fundación CAMPO, Fundación León 2000,
Fundación Nieborowski, Fundación Paraguaya, FUNDAHMICRO, FUNDEA, FUNDENUSE,
FUNDESER, Fundusz Mikro, FUNED, FUNSALDE, Gasha, Génesis Empresarial, Genesiss, Green
Bank, Hermandad de Honduras OPDF, HKL, HOPE, Horizon, Horizonti, ICC BluSol, ImerCredit,
Imkoniyat, IMON, IMPRO, INECO, INSOTEC, Intellekt, Interactuar, Interfisa, JSC Bank Constanta,
KADET, Kafo Jiginew, Kakum RB, KAMURJ, Kashf, KBSLAB, Khan Bank, KMF, Kompanion, Kondo
Jigima, KosInvest, K-Rep, KRK Ltd, KRUSHI, KWFT, Lazika Capital, LIDER, LOK Microcredit
Foundation, LPD Ambengan, LPD Bayung Gede, LPD Bedha, LPD Buahan, LPD Ketewel, LPD
Kukuh, LPD Sibetan, MDF, MDSL, MED-Net, MEMCO, MiBanco, MI-BOSPO, Microempresas
de Antioquia, MIKRA, Mikro ALDI, MIKROFIN, Mikrofond, MikroMaliyye Credit, MLF HUMO,
MLF MicroInvest, Moznosti, Naara RB, Nachala, New RB of Victorias, NMFB, NOA, Normicro,
Nyesigiso, OBM, OBS, ODEF Financiera S.A., OISL, OMRO, Opportunity Albania, Partner, PEACE,
PGBB, PRASAC, PRESTANIC, PRIDE - TZA, PRIZMA, ProCredit - ECU, ProCredit - NIC, ProCredit
- SLV, ProCredit Bank - BIH, ProCredit Bank - MKD, ProCredit Bank - ROM, ProCredit Bank
Serbia, PRODESA, ProMujer - NIC, RB Digos, RB Lebak, RB Mabitac, RB Oroquieta, RB Solano,
RB Sto. Tomas, RCPB, Rost, Rozgar, SBS, SEF-ARM, SINERGIJA, SMEP, Sociedad Cooperativa
PADECOMSM, Sodeistviye (Pyatigorsk), Sodeystviye, Sonzelle RB, Sunrise, Tchuma, TFS, Toende
RB, UNRWA, Upper Manya RB, USTOI, Valiant RB, VFC, Visión Banco, Vital Finance, VRFSBS,
Women for Women, World Relief - HND, WWB Cali, XacBank
Target Market: High End
(Avg. Balance per Borrower/GNI
per Capita > 150% and ≤ 250%)
32
4
26
2
AccessBank, ACCOVI, ACEP Senegal, ACLEDA, ADRI, AFK, Aiyl Bank, ARMP, BancoSol, BANEX (ex
FINDESA), BESA, BZMF, CMS, CredAgro NBCO, FIE FFP, FINCA - DRC, KEP, LPD Celuk, LPD Ubung,
MCN, NovoBanco - MOZ, PADME, ProCredit - BOL, ProCredit - MDA, ProCredit Bank - ALB,
ProCredit Bank - BGR, ProCredit Bank - GEO, PRODEM FFP, Sathapana Limited, SOGESOL, UML,
WAGES
Target Market: Small Business
(Avg. Balance per Borrower/GNI
per Capita > 250%)
21
1
16
4
ACORDE, AgroCapital, Agroinvestbank, Akiba, Bai Tushum, Bank Eskhata, Centenary Bank,
Coop Fátima, FASL, FMFB - AFG, FMFB - TJK, Fortaleza FFP, FUCEC Togo, Jemeni, KMB, LPD Kuta,
LPD Pecatu, Microinvest, ProCredit - GHA, ProCredit Bank - KOS, ProCredit Bank - UKR
Africa Small
22
1
17
4
ACORDE, AgroCapital, Agroinvestbank, Akiba, Bai Tushum, Bank Eskhata, Centenary Bank,
Coop Fátima, FASL, FMFB - AFG, FMFB - TJK, Fortaleza FFP, FUCEC Togo, Jemeni, KMB, LPD Kuta,
LPD Pecatu, Microinvest, ProCredit - GHA, ProCredit Bank - KOS, ProCredit Bank - UKR, APED,
AVFS, Bessfa RB, BG, BOM, CAPPED, CFF, FCC, FDM, FINCA - MWI, FINCA - ZMB, Gasha, MaataN-Tudu, MDSL, MED-Net, Metemamen, Naara RB, SEAP, Sonzelle RB, Toende RB, UOMB, Upper
Manya RB
Africa Medium
19
0
17
2
Eshet, Faulu - UGA, FINCA - DRC, FINCA - TZA, KADET, Kakum RB, Kondo Jigima, LAPO, PEACE,
SAT, SEDA, SEF-ZAF, SFPI, SMEP, Tchuma, Vital Finance, WAGES, Wasasa, Wisdom
Africa Large
28
0
26
2
ACEP Senegal, ACSI, Akiba, CamCCUL, Capitec Bank, CCA, CDS, Centenary Bank, CMS, DECSI,
Equity Bank, FASL, FINCA - UGA, FINCORP, FUCEC Togo, Jemeni, Kafo Jiginew, K-Rep, KWFT,
NovoBanco - MOZ, Nyesigiso, OISL, OMO, PADME, PRIDE - TZA, ProCredit - GHA, RCPB, UML
Africa FSS
31
0
27
4
[These names are held confidential]
Africa Non FSS
38
1
33
4
[These names are held confidential]
Asia Small
29
0
18
11
ASHI, Banco Santiago de Libon, CEVI, CMEDFI, CZWSDA, ECLOF - PHL, FCBFI, Kasagana-Ka, LPD
Ambengan, LPD Bayung Gede, LPD Bedha, LPD Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh,
LPD Sibetan, LPD Ubung, MBK Ventura, MEDF, New RB of Victorias, NMFB, Parwaz, RB Lebak, RB
Sto. Tomas, Rozgar, SED, SPBD, Ujjivan, VEF
Asia Medium
43
2
28
13
ABCRDM, ABS-CBN, AMK, AMMACTS, Bangko Mabuhay, BCB, Cantilan Bank, CARD Bank, CBMO,
CREDIT, CReSA, DAMEN, DD Bank, FINCA - AFG, GU, HKL, IDF, Kazama Grameen, KBSLAB, KMBI,
KRUSHI, LPD Pecatu, Mallig Plains RB, MGBB, Nirdhan, NWTF, OMB, PALFSI, PGBB, RASS, RB
Digos, RB Mabitac, RB Oroquieta, RB Solano, RB Talisayan, RGVN, Saadhana, Sanghamithra,
SMSS, TPC, Valiant RB, VFC, VFS
COMPOUND PEER GROUPS 2006
62
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
PARTICIPATING INSITUTIONS
**
*
COMPOUND PEER GROUPS 2006
Asia Large
45
2
28
15
1st Valley Bank, ACLEDA, AML, AMRET, ARMP, ASA, Bandhan, Bangko Kabayan, BASIX, BFL,
BISWA, BRAC, BRAC - AFG, BSS, BURO Bangladesh, CARD NGO, Cashpor MC, CEP, ESAF, FICO,
FMFB - AFG, FMFB - Pakistan, GK, Grameen Bank, Green Bank, GV, JCF, KAS, Kashf, Khushhali
Bank, LPD Kuta, Mahasemam - SMILE, MFI, PRASAC, Sarvodaya Nano Finance, Sathapana
Limited, SEEDS, SHARE, SKDRDP, SKS, Spandana, SWAWS, TMSS, TSKI, TSPI
Asia FSS
80
3
50
27
[These names are held confidential]
Asia Non FSS
37
1
24
12
[These names are held confidential]
ECA Small
17
2
12
3
ACBA, AccessBank, AgroInvest, Agroinvestbank, Aiyl Bank, AREGAK, Bai Tushum, Bank
Eskhata, BESA, CAPA, CredAgro NBCO, EKI, FINCA - AZE, FINCA - GEO, FINCA - KOS, FMCC,
FORUS, Fundusz Mikro, INECO, JSC Bank Constanta, KEP, Khan Bank, KMB, KMF, KRK Ltd,
LOK Microcredit Foundation, MI-BOSPO, MIKRA, MIKROFIN, Moznosti, OBM, OBS, OMRO,
Opportunity Albania, Partner, PRIZMA, ProCredit - MDA, ProCredit Bank - ALB, ProCredit
Bank - BGR, ProCredit Bank - BIH, ProCredit Bank - GEO, ProCredit Bank - KOS, ProCredit Bank
- MKD, ProCredit Bank - ROM, ProCredit Bank - UKR, ProCredit Bank Serbia, SINERGIJA, Sunrise,
XacBank
ECA Medium
32
3
22
7
AFK, Azercredit, BZMF, CEF, CREDO, DEMOS SLC, FFECC, FINCA - ARM, FINCA - TJK, FinDev,
FMFB - TJK, FULM, HOPE, IMON, KAMURJ, Kompanion, LIDER, MDF, Microinvest, Mikro ALDI,
Mikrofond, MikroMaliyye Credit, MLF MicroInvest, Nachala, NOA, Normicro, Rost, SEF-ARM,
Sodeistviye (Pyatigorsk), Sodeystviye, Viator, Women for Women
ECA Large
49
3
44
2
ACBA, AccessBank, AgroInvest, Agroinvestbank, Aiyl Bank, AREGAK, Bai Tushum, Bank
Eskhata, BESA, CAPA, CredAgro NBCO, EKI, FINCA - AZE, FINCA - GEO, FINCA - KOS, FMCC,
FORUS, Fundusz Mikro, INECO, JSC Bank Constanta, KEP, Khan Bank, KMB, KMF, KRK Ltd,
LOK Microcredit Foundation, MI-BOSPO, MIKRA, MIKROFIN, Moznosti, OBM, OBS, OMRO,
Opportunity Albania, Partner, PRIZMA, ProCredit - MDA, ProCredit Bank - ALB, ProCredit
Bank - BGR, ProCredit Bank - BIH, ProCredit Bank - GEO, ProCredit Bank - KOS, ProCredit Bank
- MKD, ProCredit Bank - ROM, ProCredit Bank - UKR, ProCredit Bank Serbia, SINERGIJA, Sunrise,
XacBank
ECA FSS
71
7
57
7
[These names are held confidential]
ECA Non FSS
27
1
21
5
[These names are held confidential]
LAC Small
51
4
43
4
Actuar Caldas, Actuar Tolima, ADICH, ADIM, ADRA - PER, AGUDESA, AMA, ASDIR, ASEI,
Asociación Arariwa, AYNLA, Banco da Familia, CDRO, CEADe, CEPESIU, COAC Acción
Rural, CREDIMUJER, EDAPROSPO, Emprender, FAPE, FIDERPAC, FINCA - GTM, FINCA - PER,
FOMIC, FONCRESOL, FONDESOL, FONDESURCO, FOVIDA, Friendship Bridge, Fundación
Alternativa, Fundación CAMPO, Fundación MICROS, Fundación Mujer, Fundación San Miguel,
FUNDAHMICRO, FUNDAMIC, FUNDECOCA, FUNDESPE, FUNSALDE, Genesiss, Grameen
Mendoza, IDESI Lambayeque, IMPRO, INSOTEC, Manuela Ramos, MIDE, OLC, ProCaja, ProMujer
- NIC, Sociedad Cooperativa PADECOMSM, UCADE Ambato
LAC Medium
58
21
33
4
ACME, ADMIC, ADRI, AMC de R.L., ASP Financiera, BanCovelo, Caritas, CEAPE Maranhão,
CEPRODEL, COAC MCCH, COAC Sac Aiet, COAC San José, Contactar, COOPAC San Martín,
COOPAC Santo Cristo, CRAC Los Andes, Credicoop, CRYSOL, Diaconia, D-Miro, EDPYME
Alternativa, EDPYME Crear Tacna, EDPYME Efectiva, EDPYME Nueva Visión, ENLACE, FAFIDESS,
FAMA OPDF, Fassil FFP, FED, FIE Gran Poder, FINCA - HND, FINCA - NIC, FMSD, FODEM, FODEMI,
Fonkoze, FUNBODEM, Fundación Espoir, Fundación León 2000, Fundación Paraguaya,
FUNDEA, FUNDENUSE, FUNDESER, FUNED, Hermandad de Honduras OPDF, ICC BluSol,
MCN, Microempresas de Antioquia, Microserfin, ODEF Financiera S.A., PRESTANIC, PRISMA,
PRODESA, ProMujer - BOL, ProMujer - MEX, ProMujer - PER, SOGESOL, World Relief - HND
LAC Large
70
51
15
4
ACCOVI, ACODEP, ACORDE, ADOPEM, AgroCapital, Apoyo Integral, Asociación Raíz, Banco
ADEMI, Banco Solidario, BancoEstado, BancoSol, BanDesarrollo Microempresas, BANEX (ex
FINDESA), BanGente, BCSC, Caja Nor Perú, Caja Popular Mexicana, CMAC Arequipa, CMAC
Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC Maynas, CMAC Paita, CMAC
Sullana, CMAC Tacna, CMAC Trujillo, CMM Bogotá, CMM Medellín, COAC Jardín Azuayo, COAC
Mushuc Runa, CODESARROLLO, CompartamosBanco, Coop Fátima, Coop Universitaria,
CRECER, Credi Fé, CrediAmigo, Crediscotia, EcoFuturo FFP, EDPYME Confianza, EDPYME Crear
Arequipa, EDPYME Proempresa, FADES, FDL, FIE FFP, FIELCO, FinAmérica, Financiera Edyficar,
Financiera Fama, Financiera Familiar, FINCA - ECU, FINCA - MEX, FinComún, FINSOL, FMM
Bucaramanga, FMM Popayán, Fortaleza FFP, Fundación Nieborowski, Génesis Empresarial,
Interactuar, Interfisa, MiBanco, ProCredit - BOL, ProCredit - ECU, ProCredit - NIC, ProCredit - SLV,
PRODEM FFP, Visión Banco, WWB Cali
LAC FSS
138
70
58
10
[These names are held confidential]
LAC Non FSS
41
6
33
2
[These names are held confidential]
MENA Small
4
1
1
2
Al Karama, Azal, INMAA, NMF
MENA Medium
11
1
8
2
Al Majmoua, Al Tadamun, AMC, Ameen, AMSSF/MC, CEOSS, FATEN, Lead Foundation, MEMCO,
SBACD, UNRWA
MENA Large
9
1
6
2
ABA, Al Amana, DBACD, Enda, FBPMC, FONDEP, MFW, Tamweelcom, Zakoura
MENA FSS
14
3
9
2
[These names are held confidential]
MENA Non FSS
10
0
6
4
[These names are held confidential
Microfinance Information Exchange, Inc
63
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Peer Groups 2007
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2007
Age: New
26
0
24
2
Bereke, BOM, ECLOF - ARM, FINCA - AFG, FINCA - DRC, FINCA - TJK, FMFB - AFG, FMFB - TJK,
FONDESOL, Fundación San Miguel, Kakum RB, Kasagana-Ka, Kompanion, KRUSHI, Lead
Foundation, MBK Ventura, MEMCO, Microinvest, MikroMaliyye Credit, MLF HUMO, NMFB, OISL,
ProCredit Bank - MKD, Rozgar, Toende RB, Ujjivan
Age: Young
(5 to 8 Years)
108
11
67
30
ABCRDM, AccessBank, AFK, AgroInvest, Agroinvestbank, Al Karama, AMC, AMC de R.L., AMK,
AML, APED, ARMP, ASDIR, Asociación Arariwa, ASP Financiera, Azal, Azeri Star, Bai Tushum,
Bandhan, BanGente, BG, BRAC - AFG, BZMF, Capitec Bank, CEOSS, CEVI, CFF, COAC Acción
Rural, COAC Sac Aiet, CredAgro NBCO, Credi Fé, CREDIT, CRYSOL, CZWSDA, DD Bank, DEMOS
SLC, ECLOF - PHL, EcoFuturo FFP, EDPYME Alternativa, EDPYME Efectiva, Emprender, Eshet, FIE
Gran Poder, FINCA - ARM, FINCA - KOS, FINCA - ZMB, FMFB - Pakistan, FODEM, FOVIDA, FULM,
FUNDAHMICRO, Grameen Mendoza, Horizon, Horizonti, Imkoniyat, IMON, INMAA, Intellekt,
KADET, KAS, Kazama Grameen, KEP, Khushhali Bank, KMB, KosInvest, KRK Ltd, LIDER, MCN,
MDF, MDSL, Metemamen, MFI, MIDE, Mikrofond, MLF MicroInvest, NMF, NovoBanco - MOZ,
OBM, OBS, OMB, Parwaz, PEACE, ProCredit - ECU, ProCredit - GHA, ProCredit - MDA, ProCredit
- NIC, ProCredit Bank - ALB, ProCredit Bank - BGR, ProCredit Bank - KOS, ProCredit Bank - ROM,
ProCredit Bank - UKR, ProCredit Bank Serbia, ProMujer - MEX, ProMujer - PER, Rost, Saadhana,
Sodeistviye (Pyatigorsk), SOGESOL, SPBD, Tamweelcom, TFS, Upper Manya RB, USTOI, VFC,
Viator, VRFSBS, Wasasa, Wisdom
Age: Mature
( > 8 Years)
353
63
201
89
1st Valley Bank, ABA, ABS-CBN, ACBA, ACCOVI, ACEP Senegal, ACLEDA, ACME, ACODEP,
ACORDE, ACSI, Actuar Caldas, Actuar Tolima, ADICH, ADIM, ADMIC, ADOPEM, ADRA - PER, ADRI,
AgroCapital, AGUDESA, Aiyl Bank, Akiba, Al Amana, Al Majmoua, Al Tadamun, Alternativa, AMA,
Ameen, AMMACTS, AMRET, AMSSF/MC, Apoyo Integral, AREGAK, ASA, ASEI, ASHI, Asociación
Raíz, AVFS, AYNLA, Azercredit, Banco ADEMI, Banco da Familia, Banco Santiago de Libon,
Banco Solidario, BancoEstado, BancoSol, BanCovelo, BanDesarrollo Microempresas, BANEX
(ex FINDESA), Bangko Kabayan, Bangko Mabuhay, Bank Eskhata, BASIX, BCB, BCSC, BESA,
Bessfa RB, BFL, BISWA, BRAC, BSS, BURO Bangladesh, Caja Nor Perú, Caja Popular Mexicana,
CamCCUL, Cantilan Bank, CAPA, CAPPED, CARD Bank, CARD NGO, Caritas, Cashpor MC, CBMO,
CCA, CDRO, CDS, CEADe, CEAPE Maranhão, CEF, Centenary Bank, CEP, CEPESIU, CEPRODEL,
CMAC Arequipa, CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC Maynas,
CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC Trujillo, CMEDFI, CMM Bogotá, CMM Medellín,
CMS, COAC Jardín Azuayo, COAC MCCH, COAC Mushuc Runa, COAC San José, CODESARROLLO,
CompartamosBanco, Contactar, Coop Fátima, Coop Universitaria, COOPAC San Martín,
COOPAC Santo Cristo, CRAC Los Andes, CRECER, CrediAmigo, Credicoop, CREDIMUJER,
Crediscotia, CREDO, CReSA, Crystal, DAMEN, DBACD, DECSI, Diaconia, D-Miro, EDAPROSPO,
EDPYME Confianza, EDPYME Crear Arequipa, EDPYME Crear Tacna, EDPYME Nueva Visión,
EDPYME Proempresa, EKI, Enda, ENLACE, Equity Bank, ESAF, FADES, FAFIDESS, FAMA OPDF,
FAPE, FASL, Fassil FFP, FATEN, Faulu - UGA, FBPMC, FCBFI, FCC, FDL, FDM, FED, FFECC, FICO,
FIDERPAC, FIE FFP, FIELCO, FinAmérica, Financiera Edyficar, Financiera Fama, Financiera
Familiar, FINCA - AZE, FINCA - ECU, FINCA - GEO, FINCA - GTM, FINCA - HND, FINCA - MEX,
FINCA - MWI, FINCA - NIC, FINCA - PER, FINCA - TZA, FINCA - UGA, FinComún, FINCORP, FinDev,
FINSOL, FMCC, FMM Bucaramanga, FMM Popayán, FMSD, FODEMI, FOMIC, FONCRESOL,
FONDEP, FONDESURCO, Fonkoze, Fortaleza FFP, FORUS, Friendship Bridge, FUCEC Togo,
FUNBODEM, Fundación Alternativa, Fundación CAMPO, Fundación Espoir, Fundación León
2000, Fundación MICROS, Fundación Mujer, Fundación Nieborowski, Fundación Paraguaya,
FUNDAMIC, FUNDEA, FUNDECOCA, FUNDENUSE, FUNDESER, FUNDESPE, Fundusz Mikro,
FUNED, FUNSALDE, Gasha, Génesis Empresarial, Genesiss, GK, Grameen Bank, Green Bank, GU,
GV, Hermandad de Honduras OPDF, HKL, HOPE, ICC BluSol, IDESI Lambayeque, IDF, ImerCredit,
IMPRO, INECO, INSOTEC, Interactuar, Interfisa, JCF, Jemeni, JSC Bank Constanta, Kafo Jiginew,
KAMURJ, Kashf, KBSLAB, Khan Bank, KMBI, KMF, Kondo Jigima, K-Rep, KWFT, LAPO, Lazika
Capital, LOK Microcredit Foundation, LPD Ambengan, LPD Bayung Gede, LPD Bedha, LPD
Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh, LPD Kuta, LPD Pecatu, LPD Sibetan, LPD Ubung,
Maata-N-Tudu, Mahasemam - SMILE, Mallig Plains RB, Manuela Ramos, MEDF, MED-Net, MFW,
MGBB, MiBanco, MI-BOSPO, Microempresas de Antioquia, Microserfin, MIKRA, Mikro ALDI,
MIKROFIN, Moznosti, Naara RB, Nachala, New RB of Victorias, Nirdhan, NOA, Normicro, NWTF,
Nyesigiso, ODEF Financiera S.A., OLC, OMO, OMRO, Opportunity Albania, PADME, PALFSI,
Partner, PGBB, PRASAC, PRESTANIC, PRIDE - TZA, PRISMA, PRIZMA, ProCaja, ProCredit - BOL,
ProCredit - SLV, ProCredit Bank - BIH, ProCredit Bank - GEO, PRODEM FFP, PRODESA, ProMujer
- BOL, ProMujer - NIC, RASS, RB Digos, RB Lebak, RB Mabitac, RB Oroquieta, RB Solano, RB Sto.
Tomas, RB Talisayan, RCPB, RGVN, Sanghamithra, Sarvodaya Nano Finance, SAT, Sathapana
Limited, SBACD, SBS, SEAP, SED, SEDA, SEEDS, SEF-ARM, SEF-ZAF, SFPI, SHARE, SINERGIJA,
SKDRDP, SKS, SMEP, SMSS, Sociedad Cooperativa PADECOMSM, Sodeystviye, Sonzelle RB,
Spandana, Sunrise, SWAWS, Tchuma, TMSS, TPC, TSKI, TSPI, UCADE Ambato, UML, UNRWA,
UOMB, Valiant RB, VEF, VFS, Visión Banco, Vital Finance, WAGES, Women for Women, World
Relief - HND, WWB Cali, XacBank, Zakoura
Charter Type: Bank
(Bank)
50
4
42
4
ACBA, AccessBank, ACLEDA, ADOPEM, Agroinvestbank, Aiyl Bank, Akiba, Banco ADEMI, Banco
Solidario, BancoEstado, BancoSol, BanCovelo, BanDesarrollo Microempresas, BanGente,
Bank Eskhata, BCSC, BOM, Capitec Bank, Centenary Bank, CompartamosBanco, CrediAmigo,
Crediscotia, Equity Bank, FMFB - AFG, FMFB - TJK, FORUS, Grameen Bank, INECO, Khan Bank,
KMB, K-Rep, MiBanco, NovoBanco - MOZ, OBM, OBS, OMB, ProCredit - BOL, ProCredit - ECU,
ProCredit - NIC, ProCredit - SLV, ProCredit Bank - ALB, ProCredit Bank - BGR, ProCredit Bank -
64
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2007
BIH, ProCredit Bank - GEO, ProCredit Bank - KOS, ProCredit Bank - MKD, ProCredit Bank - ROM,
ProCredit Bank - UKR, ProCredit Bank Serbia, XacBank
Charter Type: Credit Union
(Credit Union)
35
5
16
14
ACEP Senegal, Alternativa, AMMACTS, Caja Popular Mexicana, CamCCUL, CMS, COAC Acción
Rural, COAC Jardín Azuayo, COAC MCCH, COAC Mushuc Runa, COAC Sac Aiet, COAC San
José, CODESARROLLO, Coop Fátima, Coop Universitaria, COOPAC San Martín, COOPAC Santo
Cristo, Credicoop, DEMOS SLC, FFECC, FUCEC Togo, FULM, Intellekt, Jemeni, Kafo Jiginew,
Kondo Jigima, Moznosti, Nachala, NOA, Nyesigiso, RCPB, Rost, SBS, Sodeistviye (Pyatigorsk),
Sodeystviye
Charter Type: NBFI
(Non-Bank Financial Intermediary)
172
28
109
35
ACCOVI, ACSI, AgroInvest, AMC, AMC de R.L., Ameen, AMK, AML, AMRET, Apoyo Integral,
AREGAK, ASP Financiera, AVFS, Azercredit, Azeri Star, Bai Tushum, Bandhan, BANEX (ex
FINDESA), BASIX, BFL, BG, BRAC - AFG, Caja Nor Perú, CAPA, CCA, CDS, CEF, CMAC Arequipa,
CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC Maynas, CMAC Paita, CMAC
Sullana, CMAC Tacna, CMAC Trujillo, CRAC Los Andes, CredAgro NBCO, Credi Fé, CREDIT,
CREDO, Crystal, DD Bank, DECSI, ECLOF - ARM, EcoFuturo FFP, EDPYME Alternativa, EDPYME
Confianza, EDPYME Crear Arequipa, EDPYME Crear Tacna, EDPYME Efectiva, EDPYME Nueva
Visión, EDPYME Proempresa, EKI, ENLACE, Eshet, FAMA OPDF, FASL, Fassil FFP, FATEN, Faulu
- UGA, FIE FFP, FIE Gran Poder, FIELCO, FinAmérica, Financiera Edyficar, Financiera Fama,
Financiera Familiar, FINCA - AFG, FINCA - ARM, FINCA - AZE, FINCA - ECU, FINCA - TJK, FINCA UGA, FINCA - ZMB, FinComún, FINCORP, FinDev, FINSOL, FMCC, FMFB - Pakistan, Fortaleza FFP,
Fundusz Mikro, Gasha, GK, GV, Hermandad de Honduras OPDF, HKL, HOPE, Horizon, ImerCredit,
Imkoniyat, IMON, Interfisa, JSC Bank Constanta, KADET, KAMURJ, KEP, Khushhali Bank, KMF,
Kompanion, KRK Ltd, KWFT, Lazika Capital, LIDER, LOK Microcredit Foundation, Mahasemam
- SMILE, MCN, MDSL, Metemamen, MFI, MFW, MI-BOSPO, Microinvest, Microserfin, MIKRA,
Mikro ALDI, MIKROFIN, Mikrofond, MikroMaliyye Credit, MLF HUMO, MLF MicroInvest, Nirdhan,
NMFB, Normicro, ODEF Financiera S.A., OISL, OMO, OMRO, Opportunity Albania, Partner,
Parwaz, PEACE, PRASAC, PRIZMA, ProCredit - GHA, ProCredit - MDA, PRODEM FFP, Rozgar,
Sarvodaya Nano Finance, Sathapana Limited, SED, SEEDS, SEF-ARM, SFPI, SHARE, SINERGIJA,
SKS, SMEP, Sociedad Cooperativa PADECOMSM, SOGESOL, Spandana, Sunrise, SWAWS,
Tamweelcom, Tchuma, TFS, TPC, Ujjivan, UML, UNRWA, UOMB, USTOI, VFC, VFS, Viator, Visión
Banco, VRFSBS, Wasasa, Wisdom, Women for Women
Charter Type: NGO
(Non Government Organization)
190
37
100
53
ABA, ABCRDM, ABS-CBN, ACME, ACODEP, ACORDE, Actuar Caldas, Actuar Tolima, ADICH, ADIM,
ADMIC, ADRA - PER, ADRI, AFK, AgroCapital, AGUDESA, Al Amana, Al Karama, Al Majmoua,
Al Tadamun, AMA, AMSSF/MC, APED, ARMP, ASA, ASDIR, ASEI, ASHI, Asociación Arariwa,
Asociación Raíz, AYNLA, Azal, Banco da Familia, Bereke, BESA, BISWA, BRAC, BSS, BURO
Bangladesh, BZMF, CAPPED, CARD NGO, Caritas, Cashpor MC, CDRO, CEADe, CEAPE Maranhão,
CEOSS, CEP, CEPESIU, CEPRODEL, CEVI, CFF, CMEDFI, CMM Bogotá, CMM Medellín, Contactar,
CRECER, CREDIMUJER, CReSA, CRYSOL, CZWSDA, DAMEN, DBACD, Diaconia, D-Miro, ECLOF
- PHL, EDAPROSPO, Emprender, Enda, ESAF, FADES, FAFIDESS, FAPE, FBPMC, FCBFI, FCC, FDL,
FDM, FED, FIDERPAC, FINCA - DRC, FINCA - GEO, FINCA - GTM, FINCA - HND, FINCA - KOS,
FINCA - MEX, FINCA - MWI, FINCA - NIC, FINCA - PER, FINCA - TZA, FMM Bucaramanga, FMM
Popayán, FMSD, FODEM, FODEMI, FOMIC, FONCRESOL, FONDEP, FONDESOL, FONDESURCO,
Fonkoze, FOVIDA, Friendship Bridge, FUNBODEM, Fundación Alternativa, Fundación CAMPO,
Fundación Espoir, Fundación León 2000, Fundación MICROS, Fundación Mujer, Fundación
Nieborowski, Fundación Paraguaya, Fundación San Miguel, FUNDAHMICRO, FUNDAMIC,
FUNDEA, FUNDECOCA, FUNDENUSE, FUNDESER, FUNDESPE, FUNED, FUNSALDE, Génesis
Empresarial, Genesiss, Grameen Mendoza, GU, Horizonti, ICC BluSol, IDESI Lambayeque, IDF,
IMPRO, INMAA, INSOTEC, Interactuar, JCF, KAS, Kasagana-Ka, Kashf, Kazama Grameen, KMBI,
KosInvest, KRUSHI, LAPO, Lead Foundation, Maata-N-Tudu, Manuela Ramos, MBK Ventura, MDF,
MEDF, MED-Net, MEMCO, Microempresas de Antioquia, MIDE, NMF, NWTF, OLC, PADME, PALFSI,
PRESTANIC, PRIDE - TZA, PRISMA, ProCaja, PRODESA, ProMujer - BOL, ProMujer - MEX, ProMujer
- NIC, ProMujer - PER, RASS, RGVN, Saadhana, Sanghamithra, SAT, SBACD, SEAP, SEDA, SEF-ZAF,
SKDRDP, SMSS, SPBD, TMSS, TSKI, TSPI, UCADE Ambato, VEF, Vital Finance, WAGES, World Relief
- HND, WWB Cali, Zakoura
Charter Type: Rural Bank
(Rural Bank)
40
0
25
15
1st Valley Bank, Banco Santiago de Libon, Bangko Kabayan, Bangko Mabuhay, BCB, Bessfa RB,
Cantilan Bank, CARD Bank, CBMO, FICO, Green Bank, Kakum RB, KBSLAB, LPD Ambengan, LPD
Bayung Gede, LPD Bedha, LPD Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh, LPD Kuta, LPD
Pecatu, LPD Sibetan, LPD Ubung, Mallig Plains RB, MGBB, Naara RB, New RB of Victorias, PGBB,
RB Digos, RB Lebak, RB Mabitac, RB Oroquieta, RB Solano, RB Sto. Tomas, RB Talisayan, Sonzelle
RB, Toende RB, Upper Manya RB, Valiant RB
Financial Intermediation: Non FI
(Voluntary Savings/
Total Assets = 0)
286
50
174
62
ABA, ABCRDM, ABS-CBN, ACME, ACODEP, ACORDE, Actuar Caldas, Actuar Tolima, ADICH, ADIM,
ADMIC, ADRA - PER, ADRI, AFK, AgroCapital, AgroInvest, AGUDESA, Al Amana, Al Karama,
Al Majmoua, Al Tadamun, AMA, AMC, AMC de R.L., Ameen, AML, AMSSF/MC, APED, Apoyo
Integral, AREGAK, ARMP, ASDIR, ASEI, ASHI, Asociación Arariwa, Asociación Raíz, ASP Financiera,
AYNLA, Azal, Azercredit, Azeri Star, Bai Tushum, Banco da Familia, Bandhan, BASIX, Bereke,
BESA, BFL, BG, BISWA, BRAC - AFG, BSS, BZMF, CAPA, CARD NGO, Caritas, Cashpor MC, CDRO,
CEADe, CEAPE Maranhão, CEF, CEOSS, CEPESIU, CEPRODEL, CEVI, CMEDFI, CMM Bogotá, CMM
Medellín, CompartamosBanco, Contactar, CRECER, CredAgro NBCO, Credi Fé, CrediAmigo,
CREDIMUJER, CREDO, CReSA, CRYSOL, Crystal, CZWSDA, DAMEN, DBACD, Diaconia, D-Miro,
ECLOF - ARM, ECLOF - PHL, EDAPROSPO, EDPYME Alternativa, EDPYME Confianza, EDPYME
Crear Arequipa, EDPYME Crear Tacna, EDPYME Efectiva, EDPYME Nueva Visión, EDPYME
Proempresa, EKI, Emprender, Enda, ENLACE, ESAF, FADES, FAFIDESS, FAPE, FATEN, Faulu - UGA,
FBPMC, FCC, FDL, FDM, FED, FIDERPAC, FIE Gran Poder, Financiera Edyficar, Financiera Fama,
Microfinance Information Exchange, Inc
65
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2007
FINCA - AFG, FINCA - ARM, FINCA - AZE, FINCA - DRC, FINCA - GEO, FINCA - GTM, FINCA - HND,
FINCA - KOS, FINCA - MEX, FINCA - MWI, FINCA - NIC, FINCA - PER, FINCA - TJK, FINCA - TZA,
FINCA - ZMB, FINCORP, FinDev, Microempresas de Antioquia, Microinvest, Microserfin, MIDE,
MIKRA, Mikro ALDI, MIKROFIN, Mikrofond, MikroMaliyye Credit, MLF HUMO, MLF MicroInvest,
Nachala, NMF, NOA, Normicro, OLC, OMRO, Opportunity Albania, PADME, PALFSI, Partner,
Parwaz, PRESTANIC, PRIDE - TZA, PRISMA, PRIZMA, ProCaja, ProCredit - MDA, PRODESA,
ProMujer - BOL, ProMujer - MEX, ProMujer - NIC, ProMujer - PER, RASS, RGVN, Saadhana,
Sanghamithra, Sarvodaya Nano Finance, SBACD, SEAP, SED, SEDA, SEF-ARM, SEF-ZAF, SHARE,
SINERGIJA, SKDRDP, SKS, SMEP, SMSS, Sociedad Cooperativa PADECOMSM, SOGESOL,
Spandana, Sunrise, SWAWS, Tamweelcom, TSPI, UCADE Ambato, Ujjivan, UNRWA, USTOI, VEF,
VFS, Viator, Vital Finance, VRFSBS, Women for Women, World Relief - HND, WWB Cali, Zakoura
Financial Intermediation: Low FI
(Voluntary Savings/
Total Assets > 0 and < 20%)
55
2
32
21
ACBA, AccessBank, ACEP Senegal, Aiyl Bank, AMK, AMMACTS, AMRET, ASA, AVFS, BANEX (ex
FINDESA), BRAC, CEP, CFF, CREDIT, DD Bank, DECSI, DEMOS SLC, Eshet, FAMA OPDF, FCBFI,
FINCA - ECU, FMFB - AFG, FMFB - TJK, Gasha, Grameen Bank, HKL, IDF, JCF, Kashf, Kazama
Grameen, KMB, K-Rep, MGBB, Moznosti, Nirdhan, NMFB, NWTF, ODEF Financiera S.A., OMO,
PEACE, PGBB, PRASAC, SAT, Sathapana Limited, SFPI, SPBD, Tchuma, TFS, TMSS, TPC, TSKI,
UOMB, Upper Manya RB, VFC, Wisdom
Financial Intermediation: High FI
(Voluntary Savings/Total Assets
≥ 20%)
146
22
86
38
1st Valley Bank, ACCOVI, ACLEDA, ACSI, ADOPEM, Agroinvestbank, Akiba, Alternativa, Banco
ADEMI, Banco Santiago de Libon, Banco Solidario, BancoEstado, BancoSol, BanCovelo,
BanDesarrollo Microempresas, BanGente, Bangko Kabayan, Bangko Mabuhay, Bank Eskhata,
BCB, BCSC, Bessfa RB, BOM, BURO Bangladesh, Caja Nor Perú, Caja Popular Mexicana,
CamCCUL, Cantilan Bank, Capitec Bank, CAPPED, CARD Bank, CBMO, CCA, CDS, Centenary
Bank, CMAC Arequipa, CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC
Maynas, CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC Trujillo, CMS, COAC Acción Rural,
COAC Jardín Azuayo, COAC MCCH, COAC Mushuc Runa, COAC Sac Aiet, COAC San José,
CODESARROLLO, Coop Fátima, Coop Universitaria, COOPAC San Martín, COOPAC Santo
Cristo, CRAC Los Andes, Credicoop, Crediscotia, EcoFuturo FFP, Equity Bank, FASL, Fassil
FFP, FFECC, FICO, FIE FFP, FIELCO, FinAmérica, Financiera Familiar, FINCA - UGA, FinComún,
FINSOL, FMFB - Pakistan, Fonkoze, Fortaleza FFP, FUCEC Togo, FULM, Green Bank, INECO,
Intellekt, Interfisa, Jemeni, Kafo Jiginew, Kakum RB, KBSLAB, Khan Bank, Kondo Jigima, LPD
Ambengan, LPD Bayung Gede, LPD Bedha, LPD Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh,
LPD Kuta, LPD Pecatu, LPD Sibetan, LPD Ubung, Mallig Plains RB, MiBanco, Naara RB, New RB
of Victorias, NovoBanco - MOZ, Nyesigiso, OBM, OBS, OISL, OMB, ProCredit - BOL, ProCredit ECU, ProCredit - GHA, ProCredit - NIC, ProCredit - SLV, ProCredit Bank - ALB, ProCredit Bank
- BGR, ProCredit Bank - BIH, ProCredit Bank - GEO, ProCredit Bank - KOS, ProCredit Bank - MKD,
ProCredit Bank - ROM, ProCredit Bank - UKR, ProCredit Bank Serbia, PRODEM FFP, RB Digos, RB
Lebak, RB Mabitac, RB Oroquieta, RB Solano, RB Sto. Tomas, RB Talisayan, RCPB, Rost, Rozgar,
SBS, SEEDS, Sodeistviye (Pyatigorsk), Sodeystviye, Sonzelle RB, Toende RB, UML, Valiant RB,
Visión Banco, WAGES, Wasasa, XacBank
Methodology: Individual
164
33
101
30
1st Valley Bank, ACBA, AccessBank, ACCOVI, ACME, ACORDE, Actuar Caldas, ADRI, AFK,
AgroInvest, Agroinvestbank, Alternativa, AMA, AMC, AMC de R.L., Ameen, ASA, ASDIR,
ASP Financiera, Banco ADEMI, Banco da Familia, Banco Santiago de Libon, BancoEstado,
BanDesarrollo Microempresas, BANEX (ex FINDESA), Bangko Mabuhay, Bank Eskhata, BCB,
BCSC, BESA, BRAC, BZMF, Caja Nor Perú, CAPA, Capitec Bank, CBMO, CEF, Centenary Bank,
CEP, CEPRODEL, CMAC Arequipa, CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica,
CMAC Maynas, CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC Trujillo, CMEDFI, CMM Bogotá,
CMM Medellín, COAC Jardín Azuayo, COAC MCCH, COAC Mushuc Runa, Coop Fátima, Coop
Universitaria, COOPAC San Martín, COOPAC Santo Cristo, CRAC Los Andes, CredAgro NBCO,
Credi Fé, Credicoop, CREDIMUJER, Crediscotia, EDPYME Alternativa, EDPYME Crear Arequipa,
EDPYME Crear Tacna, EDPYME Efectiva, EDPYME Nueva Visión, EDPYME Proempresa, EKI, Fassil
FFP, FFECC, FICO, FIDERPAC, FIE FFP, FIE Gran Poder, FIELCO, FinAmérica, Financiera Familiar,
FINCA - AZE, FMM Bucaramanga, FMM Popayán, FMSD, FOMIC, FONDESURCO, Fortaleza
FFP, FULM, Fundación CAMPO, Fundación Nieborowski, FUNDECOCA, Genesiss, ICC BluSol,
IDESI Lambayeque, ImerCredit, IMPRO, INECO, INSOTEC, Intellekt, Interactuar, Interfisa, Kafo
Jiginew, Khan Bank, Khushhali Bank, KMB, KosInvest, KRK Ltd, LPD Bedha, LPD Buahan, LPD
Kuta, LPD Pecatu, MCN, MDF, MEMCO, Microempresas de Antioquia, Microserfin, MIKROFIN,
CREDIMUJER, Crediscotia, EDPYME Alternativa, EDPYME Crear Arequipa, EDPYME Crear Tacna,
EDPYME Efectiva, EDPYME Nueva Visión, EDPYME Proempresa, EKI, Fassil FFP, FFECC, FICO,
FIDERPAC, FIE FFP, FIE Gran Poder, FIELCO, FinAmérica, Financiera Familiar, FINCA - AZE, FMM
Bucaramanga, FMM Popayán, FMSD, FOMIC, FONDESURCO, Fortaleza FFP, FULM, Fundación
CAMPO, Fundación Nieborowski, FUNDECOCA, Genesiss, ICC BluSol, IDESI Lambayeque,
ImerCredit, IMPRO, INECO, INSOTEC, Intellekt, Interactuar, Interfisa, Kafo Jiginew, Khan Bank,
Khushhali Bank, KMB, KosInvest, KRK Ltd, LPD Bedha, LPD Buahan, LPD Kuta, LPD Pecatu,
MCN, MDF, MEMCO, Microempresas de Antioquia, Microserfin, MIKROFIN, Mikrofond, Nachala,
New RB of Victorias, NOA, NovoBanco - MOZ, OBM, OBS, Partner, PGBB, PRESTANIC, ProCaja,
ProCredit - BOL, ProCredit - ECU, ProCredit - GHA, ProCredit - MDA, ProCredit - NIC, ProCredit
- SLV, ProCredit Bank - ALB, ProCredit Bank - BGR, ProCredit Bank - BIH, ProCredit Bank - GEO,
ProCredit Bank - KOS, ProCredit Bank - MKD, ProCredit Bank - ROM, ProCredit Bank - UKR,
ProCredit Bank Serbia, PRODESA, RB Digos, RB Lebak, RB Mabitac, RB Oroquieta, RB Solano,
RB Sto. Tomas, RB Talisayan, Rost, SBS, Sociedad Cooperativa PADECOMSM, Sodeistviye
(Pyatigorsk), Sodeystviye, SOGESOL, Sunrise, TFS, Valiant RB, Visión Banco, WWB Cali
66
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
PARTICIPATING INSITUTIONS
**
*
SIMPLE PEER GROUPS 2007
Methodology: Individual/
Solidarity
(Individual & Solidarity; or
Individual, Solidarity & Village
Banking)
245
31
146
68
ABA, ABS-CBN, ACEP Senegal, ACLEDA, ACODEP, ACSI, Actuar Tolima, ADICH, ADIM, ADMIC,
ADOPEM, AGUDESA, Aiyl Bank, Akiba, Al Amana, Al Karama, Al Majmoua, AMK, AML,
AMMACTS, AMRET, AMSSF/MC, Apoyo Integral, AREGAK, ARMP, Asociación Raíz, AVFS,
AYNLA, Azal, Azercredit, Azeri Star, Bai Tushum, Banco Solidario, BancoSol, BanCovelo,
BanGente, Bangko Kabayan, Bereke, BG, BOM, BRAC - AFG, BURO Bangladesh, Caja Popular
Mexicana, CamCCUL, Cantilan Bank, CAPPED, CARD Bank, CARD NGO, Caritas, CCA, CDRO,
CDS, CEADe, CEAPE Maranhão, CEOSS, CEPESIU, CMS, COAC Acción Rural, COAC Sac Aiet,
COAC San José, CODESARROLLO, CompartamosBanco, Contactar, CrediAmigo, CREDIT,
CREDO, Crystal, DBACD, DECSI, DEMOS SLC, D-Miro, ECLOF - ARM, ECLOF - PHL, EcoFuturo
FFP, EDAPROSPO, Emprender, Enda, ENLACE, Equity Bank, Eshet, FADES, FAFIDESS, FAMA
OPDF, FAPE, FASL, FATEN, Faulu - UGA, FBPMC, FCBFI, FCC, FDL, FDM, Financiera Edyficar,
Financiera Fama, FINCA - AFG, FINCA - ARM, FINCA - ECU, FINCA - GEO, FINCA - HND, FINCA
- KOS, FINCA - PER, FinComún, FINCORP, FinDev, FINSOL, FMCC, FMFB - AFG, FMFB - Pakistan,
FMFB - TJK, FODEM, FODEMI, FONCRESOL, FONDEP, FONDESOL, Fonkoze, FORUS, FOVIDA,
FUCEC Togo, FUNBODEM, Fundación Alternativa, Fundación León 2000, Fundación MICROS,
Fundación Paraguaya, FUNDAHMICRO, FUNDAMIC, FUNDEA, FUNDENUSE, FUNDESER,
FUNDESPE, Fundusz Mikro, FUNED, FUNSALDE, Gasha, GK, Grameen Mendoza, Green Bank,
GV, Hermandad de Honduras OPDF, HKL, HOPE, Horizon, Horizonti, IMON, INMAA, JCF, Jemeni,
JSC Bank Constanta, Kakum RB, KAMURJ, Kasagana-Ka, Kashf, KBSLAB, KEP, KMF, Kompanion,
Kondo Jigima, K-Rep, KWFT, LAPO, Lazika Capital, Lead Foundation, LIDER, LOK Microcredit
Foundation, LPD Ambengan, LPD Bayung Gede, LPD Celuk, LPD Ketewel, LPD Kukuh, LPD
Sibetan, LPD Ubung, Mallig Plains RB, Manuela Ramos, MBK Ventura, MED-Net, MFW, MGBB,
MiBanco, MI-BOSPO, Microinvest, MIDE, MIKRA, Mikro ALDI, MLF HUMO, MLF MicroInvest,
Moznosti, Naara RB, Nirdhan, NMF, NMFB, Normicro, NWTF, Nyesigiso, ODEF Financiera S.A.,
OISL, OMB, OMO, OMRO, Opportunity Albania, PADME, Parwaz, PEACE, PRASAC, PRIDE - TZA,
PRISMA, PRIZMA, PRODEM FFP, RCPB, RGVN, SAT, Sathapana Limited, SBACD, SEAP, SED, SEEDS,
SEF-ARM, SFPI, SHARE, SINERGIJA, SKS, Sonzelle RB, Spandana, SWAWS, Tamweelcom, Tchuma,
TMSS, Toende RB, TPC, TSKI, TSPI, UML, UNRWA, Upper Manya RB, USTOI, VEF, VFC, Viator, Vital
Finance, VRFSBS, WAGES, Wasasa, Wisdom, Women for Women, World Relief - HND, XacBank,
Zakoura
Methodology: Solidarity
27
0
19
8
Al Tadamun, ASHI, Bandhan, Bessfa RB, CEVI, CFF, CReSA, CZWSDA, DAMEN, DD Bank,
ESAF, Fundación San Miguel, Grameen Bank, IDF, Imkoniyat, KMBI, KRUSHI, Maata-N-Tudu,
Mahasemam - SMILE, MDSL, MikroMaliyye Credit, PALFSI, Rozgar, Saadhana, SEF-ZAF, SMEP,
Ujjivan
Methodology: Village Banking
51
10
26
15
ABCRDM, ADRA - PER, AgroCapital, APED, ASEI, Asociación Arariwa, BASIX, BFL, BISWA, BSS,
Cashpor MC, CRECER, CRYSOL, Diaconia, EDPYME Confianza, FED, FINCA - DRC, FINCA - GTM,
FINCA - MEX, FINCA - MWI, FINCA - NIC, FINCA - TJK, FINCA - TZA, FINCA - UGA, FINCA - ZMB,
Friendship Bridge, Fundación Espoir, Fundación Mujer, Génesis Empresarial, GU, KADET, KAS,
Kazama Grameen, MEDF, Metemamen, MFI, OLC, ProMujer - BOL, ProMujer - MEX, ProMujer
- NIC, ProMujer - PER, RASS, Sanghamithra, Sarvodaya Nano Finance, SEDA, SKDRDP, SMSS,
SPBD, UCADE Ambato, UOMB, VFS
Outreach: Small
(Number of Borrowers < 10,000)
164
21
93
50
ACCOVI, ACORDE, Actuar Caldas, Actuar Tolima, ADICH, ADIM, ADRI, AFK, AGUDESA, Al
Majmoua, Alternativa, AMA, AMC, Ameen, ASDIR, ASEI, ASP Financiera, AVFS, Azal, Azeri
Star, Banco da Familia, Banco Santiago de Libon, Bangko Mabuhay, Bank Eskhata, BCB,
Bereke, BESA, BOM, BZMF, CAPA, CAPPED, CDRO, CEADe, CEF, CEPESIU, CFF, CMEDFI, COAC
Acción Rural, COAC MCCH, COAC Sac Aiet, COAC San José, Contactar, Coop Fátima, COOPAC
Santo Cristo, CRAC Los Andes, CredAgro NBCO, Credicoop, CREDIMUJER, Crystal, CZWSDA,
DEMOS SLC, ECLOF - ARM, ECLOF - PHL, EDAPROSPO, EDPYME Nueva Visión, Emprender,
FAPE, Fassil FFP, FATEN, FCC, FDM, FFECC, FIDERPAC, FIE Gran Poder, FinDev, FODEM, FOMIC,
FONCRESOL, FONDESURCO, Fortaleza FFP, FOVIDA, FULM, FUNBODEM, Fundación Alternativa,
Fundación CAMPO, Fundación León 2000, Fundación MICROS, Fundación Mujer, FUNDAMIC,
FUNDECOCA, FUNDESPE, FUNSALDE, Genesiss, Grameen Mendoza, Hermandad de Honduras
OPDF, HOPE, Horizon, Horizonti, ICC BluSol, IDESI Lambayeque, ImerCredit, Imkoniyat,
IMPRO, INSOTEC, Intellekt, Jemeni, Kakum RB, KosInvest, KRK Ltd, Lazika Capital, LIDER, LPD
Ambengan, LPD Bayung Gede, LPD Bedha, LPD Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh,
LPD Kuta, LPD Pecatu, LPD Sibetan, LPD Ubung, Maata-N-Tudu, MDF, MDSL, MEDF, MED-Net,
MEMCO, Microinvest, Microserfin, MIDE, Mikro ALDI, Mikrofond, MikroMaliyye Credit, MLF
HUMO, Moznosti, Naara RB, Nachala, New RB of Victorias, NMF, NMFB, NOA, Normicro, OBS,
OLC, OMRO, ProCaja, RB Digos, RB Lebak, RB Mabitac, RB Oroquieta, RB Solano, RB Sto. Tomas,
Rost, Rozgar, SBS, SED, SEF-ARM, SINERGIJA, Sociedad Cooperativa PADECOMSM, Sodeistviye
(Pyatigorsk), Sodeystviye, Sonzelle RB, SPBD, TFS, Toende RB, UCADE Ambato, Upper Manya RB,
USTOI, Valiant RB, VEF, Vital Finance, VRFSBS, Women for Women,
Outreach: Medium
(Number of Borrowers ≥ 10,000
and ≤ 30,000)
138
26
80
32
ACEP Senegal, ACME, ADMIC, ADRA - PER, AgroCapital, Agroinvestbank, Akiba, Al Karama,
AMC de R.L., AMSSF/MC, APED, AREGAK, ASHI, Asociación Arariwa, Asociación Raíz, AYNLA,
Azercredit, Bai Tushum, BanCovelo, Bangko Kabayan, Cantilan Bank, Caritas, CBMO, CDS,
CEAPE Maranhão, CEOSS, CEPRODEL, CEVI, CMAC Del Santa, CMAC Maynas, CMAC Paita, CMAC
Tacna, COAC Jardín Azuayo, CODESARROLLO, COOPAC San Martín, CREDIT, CREDO, CReSA,
CRYSOL, DD Bank, D-Miro, EcoFuturo FFP, EDPYME Alternativa, EDPYME Crear Tacna, ENLACE,
Eshet, FADES, FAFIDESS, FAMA OPDF, FASL, Faulu - UGA, FCBFI, FED, FICO, FINCA - ARM, FINCA
- DRC, FINCA - GEO, FINCA - HND, FINCA - KOS, FINCA - MWI, FINCA - NIC, FINCA - PER, FINCA
- TJK, FINCA - ZMB, FINCORP, FINSOL, FMFB - AFG, FMFB - TJK, FODEMI, FONDESOL, Fonkoze,
FORUS, Friendship Bridge, Fundación Espoir, Fundación Nieborowski, Fundación Paraguaya,
Microfinance Information Exchange, Inc
67
BULLETIN TABLES
PEER GROUP
MICROBANKING BULLETIN, Issue 18, Spring 2009
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2007
Fundación San Miguel, FUNDAHMICRO, FUNDEA, FUNDENUSE, FUNDESER, Fundusz Mikro,
FUNED, Gasha, HKL, IMON, INMAA, JSC Bank Constanta, KADET, KAMURJ, Kasagana-Ka, Kazama
Grameen, KEP, KMF, Kondo Jigima, LOK Microcredit Foundation, Mallig Plains RB, Manuela
Ramos, MCN, Metemamen, Microempresas de Antioquia, MIKRA, MLF MicroInvest, NovoBanco
- MOZ, Nyesigiso, ODEF Financiera S.A., OMB, Opportunity Albania, PADME, PALFSI, Parwaz,
PEACE, PRESTANIC, PRISMA, PRIZMA, ProCredit - GHA, ProCredit - MDA, ProCredit Bank - MKD,
PRODESA, ProMujer - MEX, ProMujer - NIC, RB Talisayan, Sathapana Limited, SBACD, SEAP,
SEDA, SFPI, SMEP, SMSS, SOGESOL, Sunrise, Tchuma, UML, UNRWA, UOMB, Viator, WAGES, World
Relief - HND
Outreach: Large
(Number of Borrowers > 30,000)
185
27
119
39
1st Valley Bank, ABA, ABCRDM, ABS-CBN, ACBA, AccessBank, ACLEDA, ACODEP, ACSI,
ADOPEM, AgroInvest, Aiyl Bank, Al Amana, Al Tadamun, AMK, AML, AMMACTS, AMRET, Apoyo
Integral, ARMP, ASA, Banco ADEMI, Banco Solidario, BancoEstado, BancoSol, BanDesarrollo
Microempresas, Bandhan, BANEX (ex FINDESA), BanGente, BASIX, BCSC, Bessfa RB, BFL, BG,
BISWA, BRAC, BRAC - AFG, BSS, BURO Bangladesh, Caja Nor Perú, Caja Popular Mexicana,
CamCCUL, Capitec Bank, CARD Bank, CARD NGO, Cashpor MC, CCA, Centenary Bank, CEP,
CMAC Arequipa, CMAC Cusco, CMAC Huancayo, CMAC Ica, CMAC Sullana, CMAC Trujillo, CMM
Bogotá, CMM Medellín, CMS, COAC Mushuc Runa, CompartamosBanco, Coop Universitaria,
CRECER, Credi Fé, CrediAmigo, Crediscotia, DAMEN, DBACD, DECSI, Diaconia, EDPYME
Confianza, EDPYME Crear Arequipa, EDPYME Efectiva, EDPYME Proempresa, EKI, Enda, Equity
Bank, ESAF, FBPMC, FDL, FIE FFP, FIELCO, FinAmérica, Financiera Edyficar, Financiera Fama,
Financiera Familiar, FINCA - AFG, FINCA - AZE, FINCA - ECU, FINCA - GTM, FINCA - MEX, FINCA
- TZA, FINCA - UGA, FinComún, FMCC, FMFB - Pakistan, FMM Bucaramanga, FMM Popayán,
FMSD, FONDEP, FUCEC Togo, Génesis Empresarial, GK, Grameen Bank, Green Bank, GU, GV, IDF,
INECO, Interactuar, Interfisa, JCF, Kafo Jiginew, KAS, Kashf, KBSLAB, Khan Bank, Khushhali Bank,
KMB, KMBI, Kompanion, K-Rep, KRUSHI, KWFT, LAPO, Lead Foundation, Mahasemam - SMILE,
MBK Ventura, MFI, MFW, MGBB, MiBanco, MI-BOSPO, MIKROFIN, Nirdhan, NWTF, OBM, OISL,
OMO, Partner, PGBB, PRASAC, PRIDE - TZA, ProCredit - BOL, ProCredit - ECU, ProCredit - NIC,
ProCredit - SLV, ProCredit Bank - ALB, ProCredit Bank - BGR, ProCredit Bank - BIH, ProCredit
Bank - GEO, ProCredit Bank - KOS, ProCredit Bank - ROM, ProCredit Bank - UKR, ProCredit
Bank Serbia, PRODEM FFP, ProMujer - BOL, ProMujer - PER, RASS, RCPB, RGVN, Saadhana,
Sanghamithra, Sarvodaya Nano Finance, SAT, SEEDS, SEF-ZAF, SHARE, SKDRDP, SKS, Spandana,
SWAWS, Tamweelcom, TMSS, TPC, TSKI, TSPI, Ujjivan, VFC, VFS, Visión Banco, Wasasa, Wisdom,
WWB Cali, XacBank, Zakoura
Profit Status: Profit
180
21
131
28
1st Valley Bank, ACBA, AccessBank, ACCOVI, ACLEDA, ACSI, ADOPEM, AgroInvest,
Agroinvestbank, Aiyl Bank, Akiba, AMC de R.L., Ameen, AMK, AML, AMRET, Apoyo Integral,
AREGAK, ASP Financiera, AVFS, Banco ADEMI, Banco Santiago de Libon, Banco Solidario,
BancoEstado, BancoSol, BanCovelo, BanDesarrollo Microempresas, Bandhan, BANEX (ex
FINDESA), BanGente, Bangko Kabayan, Bangko Mabuhay, Bank Eskhata, BASIX, BCB, BCSC,
Bessfa RB, BFL, BG, BOM, Caja Nor Perú, Cantilan Bank, Capitec Bank, CARD Bank, CBMO,
CCA, CDS, Centenary Bank, CompartamosBanco, CRAC Los Andes, Credi Fé, CrediAmigo,
Crediscotia, CREDIT, Crystal, DD Bank, DECSI, EcoFuturo FFP, EDPYME Alternativa, EDPYME
Confianza, EDPYME Crear Arequipa, EDPYME Crear Tacna, EDPYME Efectiva, EDPYME Nueva
Visión, EDPYME Proempresa, ENLACE, Equity Bank, Eshet, FASL, Fassil FFP, Faulu - UGA, FICO,
FIE FFP, FIE Gran Poder, FIELCO, FinAmérica, Financiera Edyficar, Financiera Fama, Financiera
Familiar, FINCA - AZE, FINCA - ECU, FINCA - TJK, FINCA - UGA, FINCA - ZMB, FinComún,
FINCORP, FINSOL, FMCC, FMFB - AFG, FMFB - Pakistan, FMFB - TJK, Fortaleza FFP, FORUS, GK,
Grameen Bank, Green Bank, GV, HKL, IMON, INECO, Interfisa, KADET, Kakum RB, KBSLAB, Khan
Bank, Khushhali Bank, KMB, K-Rep, KWFT, Mahasemam - SMILE, Mallig Plains RB, MCN, MDSL,
Metemamen, MFI, MGBB, MiBanco, Microinvest, Microserfin, Mikrofond, Naara RB, New RB
of Victorias, Nirdhan, NMFB, NovoBanco - MOZ, OBM, OBS, OISL, OMB, OMO, PEACE, PGBB,
ProCredit - BOL, ProCredit - ECU, ProCredit - GHA, ProCredit - MDA, ProCredit - NIC, ProCredit
- SLV, ProCredit Bank - ALB, ProCredit Bank - BGR, ProCredit Bank - BIH, ProCredit Bank - GEO,
ProCredit Bank - KOS, ProCredit Bank - MKD, ProCredit Bank - ROM, ProCredit Bank - UKR,
ProCredit Bank Serbia, PRODEM FFP, RB Digos, RB Lebak, RB Mabitac, RB Oroquieta, RB Solano,
RB Sto. Tomas, RB Talisayan, Rozgar, Sarvodaya Nano Finance, Sathapana Limited, SED, SEFARM, SFPI, SHARE, SKS, Sociedad Cooperativa PADECOMSM, SOGESOL, Sonzelle RB, Spandana,
SWAWS, TFS, Toende RB, TPC, Ujjivan, UML, Upper Manya RB, Valiant RB, VFC, VFS, Visión Banco,
Wasasa, XacBank
Profit Status: Not for Profit
307
53
161
93
ABA, ABCRDM, ABS-CBN, ACEP Senegal, ACME, ACODEP, ACORDE, Actuar Caldas, Actuar Tolima,
ADICH, ADIM, ADMIC, ADRA - PER, ADRI, AFK, AgroCapital, AGUDESA, Al Amana, Al Karama,
Al Majmoua, Al Tadamun, Alternativa, AMA, AMC, AMMACTS, AMSSF/MC, APED, ARMP, ASA,
ASDIR, ASEI, ASHI, Asociación Arariwa, Asociación Raíz, AYNLA, Azal, Azercredit, Azeri Star, Bai
Tushum, Banco da Familia, Bereke, BESA, BISWA, BRAC, BRAC - AFG, BSS, BURO Bangladesh,
BZMF, Caja Popular Mexicana, CamCCUL, CAPA, CAPPED, CARD NGO, Caritas, Cashpor MC,
CDRO, CEADe, CEAPE Maranhão, CEF, CEOSS, CEP, CEPESIU, CEPRODEL, CEVI, CFF, CMAC
Arequipa, CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC Maynas, CMAC
Paita, CMAC Sullana, CMAC Tacna, CMAC Trujillo, CMEDFI, CMM Bogotá, CMM Medellín, CMS,
COAC Acción Rural, COAC Jardín Azuayo, COAC MCCH, COAC Mushuc Runa, COAC Sac Aiet,
COAC San José, CODESARROLLO, Contactar, Coop Fátima, Coop Universitaria, COOPAC San
Martín, COOPAC Santo Cristo, CRECER, CredAgro NBCO, Credicoop, CREDIMUJER, CREDO,
CReSA, CRYSOL, CZWSDA, DAMEN, DBACD, DEMOS SLC, Diaconia, D-Miro, ECLOF - ARM, ECLOF
- PHL, EDAPROSPO, EKI, Emprender, Enda, ESAF, FADES, FAFIDESS, FAMA OPDF, FAPE, FATEN,
FBPMC, FCBFI, FCC, FDL, FDM, FED, FFECC, FIDERPAC, FINCA - AFG, FINCA - ARM, FINCA - DRC,
68
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2007
FINCA - GEO, FINCA - GTM, FINCA - HND, FINCA - KOS, FINCA - MEX, FINCA - MWI, FINCA - NIC,
FINCA - PER, FINCA - TZA, FinDev, FMM Bucaramanga, FMM Popayán, FMSD, FODEM, FODEMI,
FOMIC, FONCRESOL, FONDEP, FONDESOL, FONDESURCO, Fonkoze, FOVIDA, Friendship Bridge,
FUCEC Togo, FULM, FUNBODEM, Fundación Alternativa, Fundación CAMPO, Fundación
Espoir, Fundación León 2000, Fundación MICROS, Fundación Mujer, Fundación Nieborowski,
Fundación Paraguaya, Fundación San Miguel, FUNDAHMICRO, FUNDAMIC, FUNDEA,
FUNDECOCA, FUNDENUSE, FUNDESER, FUNDESPE, Fundusz Mikro, FUNED, FUNSALDE, Gasha,
Génesis Empresarial, Genesiss, Grameen Mendoza, GU, Hermandad de Honduras OPDF, HOPE,
Horizon, Horizonti, ICC BluSol, IDESI Lambayeque, IDF, ImerCredit, Imkoniyat, IMPRO, INMAA,
INSOTEC, Intellekt, Interactuar, JCF, Jemeni, JSC Bank Constanta, Kafo Jiginew, KAMURJ, KAS,
Kasagana-Ka, Kashf, Kazama Grameen, KEP, KMBI, KMF, Kompanion, Kondo Jigima, KosInvest,
KRK Ltd, KRUSHI, LAPO, Lazika Capital, Lead Foundation, LIDER, LOK Microcredit Foundation,
LPD Ambengan, LPD Bayung Gede, LPD Bedha, LPD Buahan, LPD Celuk, LPD Ketewel, LPD
Kukuh, LPD Kuta, LPD Pecatu, LPD Sibetan, LPD Ubung, Maata-N-Tudu, Manuela Ramos, MBK
Ventura, MDF, MEDF, MED-Net, MEMCO, MFW, MI-BOSPO, Microempresas de Antioquia, MIDE,
MIKRA, Mikro ALDI, MIKROFIN, MikroMaliyye Credit, MLF HUMO, MLF MicroInvest, Moznosti,
Nachala, NMF, NOA, Normicro, NWTF, Nyesigiso, ODEF Financiera S.A., OLC, OMRO, Opportunity
Albania, PADME, PALFSI, Partner, Parwaz, PRASAC, PRESTANIC, PRIDE - TZA, PRISMA, PRIZMA,
ProCaja, PRODESA, ProMujer - BOL, ProMujer - MEX, ProMujer - NIC, ProMujer - PER, RASS,
RCPB, RGVN, Rost, Saadhana, Sanghamithra, SAT, SBACD, SBS, SEAP, SEDA, SEEDS, SEF-ZAF,
SINERGIJA, SKDRDP, SMEP, SMSS, Sodeistviye (Pyatigorsk), Sodeystviye, SPBD, Sunrise,
Tamweelcom, Tchuma, TMSS, TSKI, TSPI, UCADE Ambato, UNRWA, UOMB, USTOI, VEF, Viator,
Vital Finance, VRFSBS, WAGES, Wisdom, Women for Women, World Relief - HND, WWB Cali,
Zakoura
Region: Africa
(sub-Saharan Africa)
69
2
39
28
ACEP Senegal, ACSI, Akiba, APED, AVFS, Bessfa RB, BG, BOM, CamCCUL, Capitec Bank, CAPPED,
CCA, CDS, Centenary Bank, CFF, CMS, DECSI, Equity Bank, Eshet, FASL, Faulu - UGA, FCC, FDM,
FINCA - DRC, FINCA - MWI, FINCA - TZA, FINCA - UGA, FINCA - ZMB, FINCORP, FUCEC Togo,
Gasha, Jemeni, KADET, Kafo Jiginew, Kakum RB, Kondo Jigima, K-Rep, KWFT, LAPO, MaataN-Tudu, MDSL, MED-Net, Metemamen, Naara RB, NovoBanco - MOZ, Nyesigiso, OISL, OMO,
PADME, PEACE, PRIDE - TZA, ProCredit - GHA, RCPB, SAT, SEAP, SEDA, SEF-ZAF, SFPI, SMEP,
Sonzelle RB, Tchuma, Toende RB, UML, UOMB, Upper Manya RB, Vital Finance, WAGES, Wasasa,
Wisdom
Region: Asia
(South & East Asia)
117
1
76
40
1st Valley Bank, ABCRDM, ABS-CBN, ACLEDA, AMK, AML, AMMACTS, AMRET, ARMP, ASA, ASHI,
Banco Santiago de Libon, Bandhan, Bangko Kabayan, Bangko Mabuhay, BASIX, BCB, BFL,
BISWA, BRAC, BRAC - AFG, BSS, BURO Bangladesh, Cantilan Bank, CARD Bank, CARD NGO,
Cashpor MC, CBMO, CEP, CEVI, CMEDFI, CREDIT, CReSA, CZWSDA, DAMEN, DD Bank, ECLOF PHL, ESAF, FCBFI, FICO, FINCA - AFG, FMFB - AFG, FMFB - Pakistan, GK, Grameen Bank, Green
Bank, GU, GV, HKL, IDF, JCF, KAS, Kasagana-Ka, Kashf, Kazama Grameen, KBSLAB, Khushhali
Bank, KMBI, KRUSHI, LPD Ambengan, LPD Bayung Gede, LPD Bedha, LPD Buahan, LPD Celuk,
LPD Ketewel, LPD Kukuh, LPD Kuta, LPD Pecatu, LPD Sibetan, LPD Ubung, Mahasemam SMILE, Mallig Plains RB, MBK Ventura, MEDF, MFI, MGBB, New RB of Victorias, Nirdhan, NMFB,
NWTF, OMB, PALFSI, Parwaz, PGBB, PRASAC, RASS, RB Digos, RB Lebak, RB Mabitac, RB
Oroquieta, RB Solano, RB Sto. Tomas, RB Talisayan, RGVN, Rozgar, Saadhana, Sanghamithra,
Sarvodaya Nano Finance, Sathapana Limited, SED, SEEDS, SHARE, SKDRDP, SKS, SMSS,
Spandana, SPBD, SWAWS, TMSS, TPC, TSKI, TSPI, Ujjivan, Valiant RB, VEF, VFC, VFS
Region: ECA
(Eastern Europe & Central Asia)
98
4
81
13
ACBA, AccessBank, AFK, AgroInvest, Agroinvestbank, Aiyl Bank, Alternativa, AREGAK,
Azercredit, Azeri Star, Bai Tushum, Bank Eskhata, Bereke, BESA, BZMF, CAPA, CEF, CredAgro
NBCO, CREDO, Crystal, DEMOS SLC, ECLOF - ARM, EKI, FFECC, FINCA - ARM, FINCA - AZE, FINCA
- GEO, FINCA - KOS, FINCA - TJK, FinDev, FMCC, FMFB - TJK, FORUS, FULM, Fundusz Mikro,
HOPE, Horizon, Horizonti, ImerCredit, Imkoniyat, IMON, INECO, Intellekt, JSC Bank Constanta,
KAMURJ, KEP, Khan Bank, KMB, KMF, Kompanion, KosInvest, KRK Ltd, Lazika Capital, LIDER,
LOK Microcredit Foundation, MDF, MI-BOSPO, Microinvest, MIKRA, Mikro ALDI, MIKROFIN,
Mikrofond, MikroMaliyye Credit, MLF HUMO, MLF MicroInvest, Moznosti, Nachala, NOA,
Normicro, OBM, OBS, OMRO, Opportunity Albania, Partner, PRIZMA, ProCredit - MDA, ProCredit
Bank - ALB, ProCredit Bank - BGR, ProCredit Bank - BIH, ProCredit Bank - GEO, ProCredit Bank KOS, ProCredit Bank - MKD, ProCredit Bank - ROM, ProCredit Bank - UKR, ProCredit Bank Serbia,
Rost, SBS, SEF-ARM, SINERGIJA, Sodeistviye (Pyatigorsk), Sodeystviye, Sunrise, TFS, USTOI,
Viator, VRFSBS, Women for Women, XacBank
Region: LAC
(Latin America & the Caribbean)
179
66
74
39
ACCOVI, ACME, ACODEP, ACORDE, Actuar Caldas, Actuar Tolima, ADICH, ADIM, ADMIC,
ADOPEM, ADRA - PER, ADRI, AgroCapital, AGUDESA, AMA, AMC de R.L., Apoyo Integral, ASDIR,
ASEI, Asociación Arariwa, Asociación Raíz, ASP Financiera, AYNLA, Banco ADEMI, Banco da
Familia, Banco Solidario, BancoEstado, BancoSol, BanCovelo, BanDesarrollo Microempresas,
BANEX (ex FINDESA), BanGente, BCSC, Caja Nor Perú, Caja Popular Mexicana, Caritas, CDRO,
CEADe, CEAPE Maranhão, CEPESIU, CEPRODEL, CMAC Arequipa, CMAC Cusco, CMAC Del Santa,
CMAC Huancayo, CMAC Ica, CMAC Maynas, CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC
Trujillo, CMM Bogotá, CMM Medellín, COAC Acción Rural, COAC Jardín Azuayo, COAC MCCH,
COAC Mushuc Runa, COAC Sac Aiet, COAC San José, CODESARROLLO, CompartamosBanco,
Contactar, Coop Fátima, Coop Universitaria, COOPAC San Martín, COOPAC Santo Cristo, CRAC
Los Andes, CRECER, Credi Fé, CrediAmigo, Credicoop, CREDIMUJER, Crediscotia, CRYSOL,
Diaconia, D-Miro, EcoFuturo FFP, EDAPROSPO, EDPYME Alternativa, EDPYME Confianza,
EDPYME Crear Arequipa, EDPYME Crear Tacna, EDPYME Efectiva, EDPYME Nueva Visión,
EDPYME Proempresa, Emprender, ENLACE, FADES, FAFIDESS, FAMA OPDF, FAPE, Fassil FFP, FDL,
Microfinance Information Exchange, Inc
69
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2007
FED, FIDERPAC, FIE FFP, FIE Gran Poder, FIELCO, FinAmérica, Financiera Edyficar, Financiera
Fama, Financiera Familiar, FINCA - ECU, FINCA - GTM, FINCA - HND, FINCA - MEX, FINCA - NIC,
FINCA - PER, FinComún, FINSOL, FMM Bucaramanga, FMM Popayán, FMSD, FODEM, FODEMI,
FOMIC, FONCRESOL, FONDESOL, FONDESURCO, Fonkoze, Fortaleza FFP, FOVIDA, Friendship
Bridge, FUNBODEM, Fundación Alternativa, Fundación CAMPO, Fundación Espoir, Fundación
León 2000, Fundación MICROS, Fundación Mujer, Fundación Nieborowski, Fundación
Paraguaya, Fundación San Miguel, FUNDAHMICRO, FUNDAMIC, FUNDEA, FUNDECOCA,
FUNDENUSE, FUNDESER, FUNDESPE, FUNED, FUNSALDE, Génesis Empresarial, Genesiss,
Grameen Mendoza, Hermandad de Honduras OPDF, ICC BluSol, IDESI Lambayeque, IMPRO,
INSOTEC, Interactuar, Interfisa, Manuela Ramos, MCN, MiBanco, Microempresas de Antioquia,
Microserfin, MIDE, ODEF Financiera S.A., OLC, PRESTANIC, PRISMA, ProCaja, ProCredit - BOL,
ProCredit - ECU, ProCredit - NIC, ProCredit - SLV, PRODEM FFP, PRODESA, ProMujer - BOL,
ProMujer - MEX, ProMujer - NIC, ProMujer - PER, Sociedad Cooperativa PADECOMSM,
SOGESOL, UCADE Ambato, Visión Banco, World Relief - HND, WWB Cali
Region: MENA
(Middle East & North Africa)
24
1
22
1
ABA, Al Amana, Al Karama, Al Majmoua, Al Tadamun, AMC, Ameen, AMSSF/MC, Azal, CEOSS,
DBACD, Enda, FATEN, FBPMC, FONDEP, INMAA, Lead Foundation, MEMCO, MFW, NMF, SBACD,
Tamweelcom, UNRWA, Zakoura
Scale: Small
(GLP in USD, LAC < 4,000,000;
Others < 2,000,000)
97
13
41
43
ADICH, ADIM, ADRA - PER, AGUDESA, Alternativa, AMA, APED, ASDIR, ASEI, Asociación Arariwa,
AVFS, Azal, Azeri Star, Banco Santiago de Libon, Bessfa RB, BOM, CAPPED, CDRO, CEADe,
CEPESIU, CEVI, CFF, CMEDFI, CREDIMUJER, CZWSDA, ECLOF - ARM, ECLOF - PHL, EDAPROSPO,
Emprender, FAPE, FCBFI, FCC, FDM, FIDERPAC, FINCA - PER, FINCA - ZMB, FOMIC, FONCRESOL,
FONDESOL, FONDESURCO, Fonkoze, FOVIDA, Friendship Bridge, Fundación Alternativa,
Fundación MICROS, Fundación Mujer, Fundación San Miguel, FUNDAMIC, FUNDECOCA,
FUNDESPE, FUNSALDE, Gasha, Genesiss, Grameen Mendoza, IDESI Lambayeque, ImerCredit,
Imkoniyat, IMPRO, INSOTEC, Intellekt, Kasagana-Ka, LPD Ambengan, LPD Bayung Gede, LPD
Bedha, LPD Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh, LPD Sibetan, LPD Ubung, MaataN-Tudu, Manuela Ramos, MEDF, MED-Net, Metemamen, MIDE, MikroMaliyye Credit, Naara
RB, New RB of Victorias, NMF, NMFB, OLC, OMB, Parwaz, ProCaja, ProMujer - NIC, Rozgar, SEAP,
SED, Sociedad Cooperativa PADECOMSM, Sonzelle RB, SPBD, TFS, Toende RB, UCADE Ambato,
USTOI, VEF
Scale: Medium
(GLP in USD, LAC ≥ 4,000,000 and
≤ 15,000,000;
Others ≥ 2,000,000 and ≤
8,000,000)
137
21
83
33
ABCRDM, ABS-CBN, ACME, Actuar Caldas, Actuar Tolima, ADMIC, ADRI, AFK, Al Karama, Al
Majmoua, Al Tadamun, AMC, Ameen, AMSSF/MC, ASHI, ASP Financiera, AYNLA, Banco da
Familia, Bangko Mabuhay, BCB, Bereke, BG, BZMF, Caritas, CBMO, CEAPE Maranhão, CEF,
CEOSS, CEPRODEL, COAC Acción Rural, COAC MCCH, COAC Sac Aiet, Contactar, CRAC Los
Andes, Credicoop, CReSA, CRYSOL, Crystal, DAMEN, DD Bank, DEMOS SLC, D-Miro, EDPYME
Alternativa, EDPYME Nueva Visión, ENLACE, Eshet, FAFIDESS, FAMA OPDF, FATEN, Faulu - UGA,
FED, FIE Gran Poder, FINCA - DRC, FINCA - GTM, FINCA - HND, FINCA - MWI, FINCA - NIC, FINCA
- TJK, FINCA - TZA, FinDev, FODEM, FODEMI, FULM, FUNBODEM, Fundación CAMPO, Fundación
Espoir, Fundación León 2000, Fundación Paraguaya, FUNDAHMICRO, FUNDEA, FUNDENUSE,
FUNDESER, FUNED, Hermandad de Honduras OPDF, HOPE, Horizon, Horizonti, ICC BluSol,
IDF, INMAA, KADET, Kakum RB, Kazama Grameen, KosInvest, KRUSHI, Lazika Capital, LIDER,
LPD Pecatu, Mallig Plains RB, MBK Ventura, MCN, MDF, MDSL, MGBB, Microserfin, Mikro ALDI,
Mikrofond, MLF HUMO, MLF MicroInvest, Nachala, NOA, Normicro, PALFSI, PEACE, PGBB,
PRISMA, ProMujer - MEX, ProMujer - PER, RB Digos, RB Lebak, RB Mabitac, RB Oroquieta, RB
Solano, RB Sto. Tomas, RB Talisayan, RGVN, Rost, Saadhana, SBACD, SBS, SEDA, SEF-ARM, SFPI,
SMSS, Sodeistviye (Pyatigorsk), Sodeystviye, SOGESOL, Tchuma, UOMB, Upper Manya RB, VFS,
Viator, Vital Finance, VRFSBS, Wasasa, Wisdom, World Relief - HND
Scale: Large
(GLP in USD, LAC > 15,000,000;
Others > 8,000,000)
253
40
168
45
1st Valley Bank, ABA, ACBA, AccessBank, ACCOVI, ACEP Senegal, ACLEDA, ACODEP, ACORDE,
ACSI, ADOPEM, AgroCapital, AgroInvest, Agroinvestbank, Aiyl Bank, Akiba, Al Amana, AMC
de R.L., AMK, AML, AMMACTS, AMRET, Apoyo Integral, AREGAK, ARMP, ASA, Asociación Raíz,
Azercredit, Bai Tushum, Banco ADEMI, Banco Solidario, BancoEstado, BancoSol, BanCovelo,
BanDesarrollo Microempresas, Bandhan, BANEX (ex FINDESA), BanGente, Bangko Kabayan,
Bank Eskhata, BASIX, BCSC, BESA, BFL, BISWA, BRAC, BRAC - AFG, BSS, BURO Bangladesh,
Caja Nor Perú, Caja Popular Mexicana, CamCCUL, Cantilan Bank, CAPA, Capitec Bank, CARD
Bank, CARD NGO, Cashpor MC, CCA, CDS, Centenary Bank, CEP, CMAC Arequipa, CMAC Cusco,
CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC Maynas, CMAC Paita, CMAC Sullana,
CMAC Tacna, CMAC Trujillo, CMM Bogotá, CMM Medellín, CMS, COAC Jardín Azuayo, COAC
Mushuc Runa, COAC San José, CODESARROLLO, CompartamosBanco, Coop Fátima, Coop
Universitaria, COOPAC San Martín, COOPAC Santo Cristo, CRECER, CredAgro NBCO, Credi Fé,
CrediAmigo, Crediscotia, CREDIT, CREDO, DBACD, DECSI, Diaconia, EcoFuturo FFP, EDPYME
Confianza, EDPYME Crear Arequipa, EDPYME Crear Tacna, EDPYME Efectiva, EDPYME
Proempresa, EKI, Enda, Equity Bank, ESAF, FADES, FASL, Fassil FFP, FBPMC, FDL, FFECC, FICO,
FIE FFP, FIELCO, FinAmérica, Financiera Edyficar, Financiera Fama, Financiera Familiar, FINCA AFG, FINCA - ARM, FINCA - AZE, FINCA - ECU, FINCA - GEO, FINCA - KOS, FINCA - MEX, FINCA
- UGA, FinComún, FINCORP, FINSOL, FMCC, FMFB - AFG, FMFB - Pakistan, FMFB - TJK, FMM
Bucaramanga, FMM Popayán, FMSD, FONDEP, Fortaleza FFP, FORUS, FUCEC Togo, Fundación
Nieborowski, Fundusz Mikro, Génesis Empresarial, GK, Grameen Bank, Green Bank, GU, GV, HKL,
IMON, INECO, Interactuar, Interfisa, JCF, Jemeni, JSC Bank Constanta, Kafo Jiginew, KAMURJ,
KAS, Kashf, KBSLAB, KEP, Khan Bank, Khushhali Bank, KMB, KMBI, KMF, Kompanion, Kondo
Jigima, K-Rep, KRK Ltd, KWFT, LAPO, Lead Foundation, LOK Microcredit Foundation, LPD Kuta,
Mahasemam - SMILE, MEMCO, MFI, MFW, MiBanco, MI-BOSPO, Microempresas de Antioquia,
Microinvest, MIKRA, MIKROFIN, Moznosti, Nirdhan, NovoBanco - MOZ, NWTF, Nyesigiso, OBM,
70
Microfinance Information Exchange, Inc
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2007
OBS, ODEF Financiera S.A., OISL, OMO, OMRO, Opportunity Albania, PADME, Partner, PRASAC,
PRESTANIC, PRIDE - TZA, PRIZMA, ProCredit - BOL, ProCredit - ECU, ProCredit - GHA, ProCredit
- MDA, ProCredit - NIC, ProCredit - SLV, ProCredit Bank - ALB, ProCredit Bank - BGR, ProCredit
Bank - BIH, ProCredit Bank - GEO, ProCredit Bank - KOS, ProCredit Bank - MKD, ProCredit Bank
- ROM, ProCredit Bank - UKR, ProCredit Bank Serbia, PRODEM FFP, PRODESA, ProMujer - BOL,
RASS, RCPB, Sanghamithra, Sarvodaya Nano Finance, SAT, Sathapana Limited, SEEDS, SEF-ZAF,
SHARE, SINERGIJA, SKDRDP, SKS, SMEP, Spandana, Sunrise, SWAWS, Tamweelcom, TMSS, TPC,
TSKI, TSPI, Ujjivan, UML, UNRWA, Valiant RB, VFC, Visión Banco, WAGES, Women for Women,
WWB Cali, XacBank, Zakoura
Sustainability: FSS
(Financial Self-Sufficiency > 100%)
343
63
211
69
[These names are held confidential]
Sustainability: Non-FSS
(Financial Self-Sufficiency < 100%)
144
11
81
52
[These names are held confidential]
Target Market: Low End
(Avg. Balance per Borrower/
GNI per Capita < 20% and Avg.
Balance per Borrower < USD 150)
162
18
94
50
ABA, ABCRDM, ABS-CBN, Actuar Tolima, ADIM, ADMIC, ADOPEM, ADRA - PER, AGUDESA, Al
Karama, Al Majmoua, Al Tadamun, AMA, Ameen, AMK, AML, AMMACTS, AMSSF/MC, APED,
ASA, ASEI, ASHI, Asociación Arariwa, ASP Financiera, AVFS, Azal, Azeri Star, Banco da Familia,
Banco Santiago de Libon, Bandhan, BASIX, Bereke, Bessfa RB, BFL, BG, BISWA, BRAC, BSS,
BURO Bangladesh, Caja Popular Mexicana, Capitec Bank, CARD Bank, CARD NGO, Cashpor
MC, CEAPE Maranhão, CEOSS, CEPESIU, CEVI, CFF, CMEDFI, CompartamosBanco, CrediAmigo,
Credicoop, CREDIMUJER, Crediscotia, CReSA, CRYSOL, CZWSDA, DAMEN, DBACD, DEMOS SLC,
EDAPROSPO, EDPYME Efectiva, Emprender, Enda, ENLACE, ESAF, Eshet, FAPE, FCBFI, FIDERPAC,
FINCA - ECU, FINCA - GTM, FINCA - MEX, FINCA - MWI, FINCA - NIC, FINCA - PER, FINCA - TZA,
FinComún, FMM Popayán, FMSD, FODEMI, FONDEP, FONDESOL, Friendship Bridge, Fundación
Espoir, Fundación MICROS, Fundación Mujer, Fundación San Miguel, FUNDAMIC, FUNSALDE,
Gasha, GK, Grameen Bank, Grameen Mendoza, GV, IDESI Lambayeque, IDF, INMAA, JCF, KAS,
Kasagana-Ka, Kazama Grameen, Khushhali Bank, KMBI, KRUSHI, LAPO, Lead Foundation,
Maata-N-Tudu, Mahasemam - SMILE, Mallig Plains RB, Manuela Ramos, MBK Ventura, MEDF,
Metemamen, MFI, MFW, MGBB, Microserfin, MIDE, MikroMaliyye Credit, NMF, NWTF, OLC, OMB,
OMO, PALFSI, Parwaz, PRISMA, ProCaja, ProMujer - MEX, ProMujer - NIC, ProMujer - PER, RGVN,
Saadhana, Sanghamithra, Sarvodaya Nano Finance, SBACD, SEAP, SED, SEEDS, SEF-ZAF, SFPI,
SHARE, SKDRDP, SMSS, Spandana, SPBD, SWAWS, Tamweelcom, TMSS, Toende RB, TSKI, TSPI,
UCADE Ambato, Ujjivan, UOMB, VEF, VFS, Viator, Wasasa, Wisdom
Target Market: Broad
(Avg. Balance per Borrower/GNI
per Capita ≥ 20% and ≤ 150%)
267
55
152
60
1st Valley Bank, ACBA, AccessBank, ACME, ACODEP, ACSI, Actuar Caldas, ADICH, AgroCapital,
AgroInvest, Al Amana, Alternativa, AMC, AMC de R.L., AMRET, Apoyo Integral, AREGAK,
ASDIR, Asociación Raíz, AYNLA, Azercredit, Banco ADEMI, Banco Solidario, BancoEstado,
BanDesarrollo Microempresas, BanGente, Bangko Kabayan, Bangko Mabuhay, BCB, BCSC,
BESA, BOM, BRAC - AFG, Caja Nor Perú, Cantilan Bank, CAPA, CAPPED, Caritas, CBMO, CCA,
CDRO, CDS, CEADe, CEF, CEP, CEPRODEL, CMAC Arequipa, CMAC Cusco, CMAC Del Santa, CMAC
Huancayo, CMAC Ica, CMAC Maynas, CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC Trujillo,
CMM Bogotá, CMM Medellín, COAC Acción Rural, COAC Jardín Azuayo, COAC MCCH, COAC
Mushuc Runa, COAC Sac Aiet, COAC San José, CODESARROLLO, Contactar, Coop Universitaria,
COOPAC San Martín, COOPAC Santo Cristo, CRAC Los Andes, CRECER, CredAgro NBCO, Credi
Fé, CREDIT, CREDO, Crystal, DD Bank, DECSI, Diaconia, D-Miro, ECLOF - ARM, ECLOF - PHL,
EcoFuturo FFP, EDPYME Alternativa, EDPYME Confianza, EDPYME Crear Arequipa, EDPYME
Crear Tacna, EDPYME Nueva Visión, EDPYME Proempresa, EKI, FADES, FAFIDESS, FAMA
OPDF, FATEN, Faulu - UGA, FBPMC, FCC, FDL, FDM, FED, FFECC, FICO, FIE Gran Poder, FIELCO,
FinAmérica, Financiera Edyficar, Financiera Fama, Financiera Familiar, FINCA - AFG, FINCA
- ARM, FINCA - AZE, FINCA - GEO, FINCA - HND, FINCA - KOS, FINCA - TJK, FINCA - UGA,
FINCA - ZMB, FINCORP, FinDev, FINSOL, FMCC, FMFB - Pakistan, FMM Bucaramanga, FODEM,
FOMIC, FONCRESOL, FONDESURCO, Fonkoze, FORUS, FOVIDA, FULM, FUNBODEM, Fundación
Alternativa, Fundación CAMPO, Fundación León 2000, Fundación Nieborowski, Fundación
Paraguaya, FUNDAHMICRO, FUNDEA, FUNDECOCA, FUNDENUSE, FUNDESER, FUNDESPE,
Fundusz Mikro, FUNED, Génesis Empresarial, Genesiss, Green Bank, GU, Hermandad de
Honduras OPDF, HKL, HOPE, Horizon, Horizonti, ICC BluSol, ImerCredit, Imkoniyat, IMON,
IMPRO, INECO, INSOTEC, Intellekt, Interactuar, Interfisa, JSC Bank Constanta, KADET, Kafo
Jiginew, Kakum RB, KAMURJ, Kashf, KBSLAB, Khan Bank, KMF, Kompanion, Kondo Jigima,
KosInvest, K-Rep, KRK Ltd, KWFT, Lazika Capital, LIDER, LOK Microcredit Foundation, LPD
Ambengan, LPD Bayung Gede, LPD Bedha, LPD Buahan, LPD Ketewel, LPD Kukuh, LPD Sibetan,
MDF, MDSL, MED-Net, MEMCO, MiBanco, MI-BOSPO, Microempresas de Antioquia, MIKRA,
Mikro ALDI, MIKROFIN, Mikrofond, MLF HUMO, MLF MicroInvest, Naara RB, Nachala, New RB of
Victorias, Nirdhan, NMFB, NOA, Normicro, OBM, OBS, ODEF Financiera S.A., OISL, Opportunity
Albania, Partner, PEACE, PGBB, PRASAC, PRESTANIC, PRIDE - TZA, PRIZMA, ProCredit - ECU,
ProCredit - SLV, ProCredit Bank - BIH, ProCredit Bank - MKD, ProCredit Bank - ROM, ProCredit
Bank Serbia, PRODESA, ProMujer - BOL, RASS, RB Digos, RB Lebak, RB Mabitac, RB Oroquieta,
RB Solano, RB Sto. Tomas, RB Talisayan, Rost, Rozgar, SAT, SBS, SEDA, SEF-ARM, SINERGIJA, SKS,
SMEP, Sociedad Cooperativa PADECOMSM, Sodeistviye (Pyatigorsk), Sodeystviye, Sonzelle RB,
Sunrise, Tchuma, TFS, TPC, UNRWA, Upper Manya RB, USTOI, Valiant RB, VFC, Visión Banco, Vital
Finance, VRFSBS, Women for Women, World Relief - HND, WWB Cali, XacBank, Zakoura
Target Market: High End
(Avg. Balance per Borrower/GNI
per Capita > 150% and ≤ 250%)
34
0
28
6
ACCOVI, ADRI, AFK, Aiyl Bank, ARMP, BancoSol, BanCovelo, BZMF, CamCCUL, Equity Bank, Fassil
FFP, FIE FFP, FINCA - DRC, FMFB - TJK, FUCEC Togo, KEP, LPD Celuk, LPD Kuta, LPD Pecatu, LPD
Ubung, MCN, Moznosti, OMRO, PADME, ProCredit - MDA, ProCredit - NIC, ProCredit Bank - ALB,
Microfinance Information Exchange, Inc
71
BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
**
PARTICIPATING INSITUTIONS
*
SIMPLE PEER GROUPS 2007
ProCredit Bank - BGR, ProCredit Bank - GEO, PRODEM FFP, RCPB, Sathapana Limited, SOGESOL,
UML
Target Market: Small Business
(Avg. Balance per Borrower/GNI
per Capita > 250%)
24
1
18
5
ACEP Senegal, ACLEDA, ACORDE, Agroinvestbank, Akiba, Bai Tushum, BANEX (ex FINDESA),
Bank Eskhata, Centenary Bank, CMS, Coop Fátima, FASL, FMFB - AFG, Fortaleza FFP, Jemeni,
KMB, Microinvest, NovoBanco - MOZ, Nyesigiso, ProCredit - BOL, ProCredit - GHA, ProCredit
Bank - KOS, ProCredit Bank - UKR, WAGES
Africa Small
17
0
8
9
APED, AVFS, Bessfa RB, BOM, CAPPED, CFF, FCC, FDM, FINCA - ZMB, Gasha, Maata-N-Tudu, MEDNet, Metemamen, Naara RB, SEAP, Sonzelle RB, Toende RB
Africa Medium
18
0
11
7
BG, Eshet, Faulu - UGA, FINCA - DRC, FINCA - MWI, FINCA - TZA, KADET, Kakum RB, MDSL,
PEACE, SEDA, SFPI, Tchuma, UOMB, Upper Manya RB, Vital Finance, Wasasa, Wisdom
Africa Large
34
2
20
12
ACEP Senegal, ACSI, Akiba, CamCCUL, Capitec Bank, CCA, CDS, Centenary Bank, CMS, DECSI,
Equity Bank, FASL, FINCA - UGA, FINCORP, FUCEC Togo, Jemeni, Kafo Jiginew, Kondo Jigima,
K-Rep, KWFT, LAPO, NovoBanco - MOZ, Nyesigiso, OISL, OMO, PADME, PRIDE - TZA, ProCredit GHA, RCPB, SAT, SEF-ZAF, SMEP, UML, WAGES
Africa FSS
34
2
23
9
[These names are held confidential]
Africa Non FSS
35
0
16
19
[These names are held confidential]
Asia Small
25
0
9
16
Banco Santiago de Libon, CEVI, CMEDFI, CZWSDA, ECLOF - PHL, FCBFI, Kasagana-Ka, LPD
Ambengan, LPD Bayung Gede, LPD Bedha, LPD Buahan, LPD Celuk, LPD Ketewel, LPD Kukuh,
LPD Sibetan, LPD Ubung, MEDF, New RB of Victorias, NMFB, OMB, Parwaz, Rozgar, SED, SPBD,
VEF
Asia Medium
29
0
22
7
ABCRDM, ABS-CBN, ASHI, Bangko Mabuhay, BCB, CBMO, CReSA, DAMEN, DD Bank, IDF, Kazama
Grameen, KRUSHI, LPD Pecatu, Mallig Plains RB, MBK Ventura, MGBB, PALFSI, PGBB, RB Digos,
RB Lebak, RB Mabitac, RB Oroquieta, RB Solano, RB Sto. Tomas, RB Talisayan, RGVN, Saadhana,
SMSS, VFS
Asia Large
63
1
45
17
1st Valley Bank, ACLEDA, AMK, AML, AMMACTS, AMRET, ARMP, ASA, Bandhan, Bangko Kabayan,
BASIX, BFL, BISWA, BRAC, BRAC - AFG, BSS, BURO Bangladesh, Cantilan Bank, CARD Bank,
CARD NGO, Cashpor MC, CEP, CREDIT, ESAF, FICO, FINCA - AFG, FMFB - AFG, FMFB - Pakistan,
GK, Grameen Bank, Green Bank, GU, GV, HKL, JCF, KAS, Kashf, KBSLAB, Khushhali Bank, KMBI,
LPD Kuta, Mahasemam - SMILE, MFI, Nirdhan, NWTF, PRASAC, RASS, Sanghamithra, Sarvodaya
Nano Finance, Sathapana Limited, SEEDS, SHARE, SKDRDP, SKS, Spandana, SWAWS, TMSS, TPC,
TSKI, TSPI, Ujjivan, Valiant RB, VFC
Asia FSS
78
0
55
23
[These names are held confidential]
Asia Non FSS
39
1
21
17
[These names are held confidential]
ECA Small
9
0
5
4
ACBA, AccessBank, AgroInvest, Agroinvestbank, Aiyl Bank, AREGAK, Azercredit, Bai Tushum,
Bank Eskhata, BESA, CAPA, CredAgro NBCO, CREDO, EKI, FFECC, FINCA - ARM, FINCA - AZE,
FINCA - GEO, FINCA - KOS, FMCC, FMFB - TJK, FORUS, Fundusz Mikro, IMON, INECO, JSC
Bank Constanta, KAMURJ, KEP, Khan Bank, KMB, KMF, Kompanion, KRK Ltd, LOK Microcredit
Foundation, MI-BOSPO, Microinvest, MIKRA, MIKROFIN, Moznosti, OBM, OBS, OMRO,
Opportunity Albania, Partner, PRIZMA, ProCredit - MDA, ProCredit Bank - ALB, ProCredit
COMPOUND PEER GROUPS 2007
Bank - BGR, ProCredit Bank - BIH, ProCredit Bank - GEO, ProCredit Bank - KOS, ProCredit Bank
- MKD, ProCredit Bank - ROM, ProCredit Bank - UKR, ProCredit Bank Serbia, SINERGIJA, Sunrise,
Women for Women, XacBank
ECA Medium
30
4
20
6
AFK, Bereke, BZMF, CEF, Crystal, DEMOS SLC, FINCA - TJK, FinDev, FULM, HOPE, Horizon,
Horizonti, KosInvest, Lazika Capital, LIDER, MDF, Mikro ALDI, Mikrofond, MLF HUMO,
MLF MicroInvest, Nachala, NOA, Normicro, Rost, SBS, SEF-ARM, Sodeistviye (Pyatigorsk),
Sodeystviye, Viator, VRFSBS
ECA Large
59
0
56
3
ACBA, AccessBank, AgroInvest, Agroinvestbank, Aiyl Bank, AREGAK, Azercredit, Bai Tushum,
Bank Eskhata, BESA, CAPA, CredAgro NBCO, CREDO, EKI, FFECC, FINCA - ARM, FINCA - AZE,
FINCA - GEO, FINCA - KOS, FMCC, FMFB - TJK, FORUS, Fundusz Mikro, IMON, INECO, JSC
Bank Constanta, KAMURJ, KEP, Khan Bank, KMB, KMF, Kompanion, KRK Ltd, LOK Microcredit
Foundation, MI-BOSPO, Microinvest, MIKRA, MIKROFIN, Moznosti, OBM, OBS, OMRO,
Opportunity Albania, Partner, PRIZMA, ProCredit - MDA, ProCredit Bank - ALB, ProCredit
Bank - BGR, ProCredit Bank - BIH, ProCredit Bank - GEO, ProCredit Bank - KOS, ProCredit Bank
- MKD, ProCredit Bank - ROM, ProCredit Bank - UKR, ProCredit Bank Serbia, SINERGIJA, Sunrise,
Women for Women, XacBank
ECA FSS
69
0
61
8
[These names are held confidential]
ECA Non FSS
29
4
20
5
[These names are held confidential]
LAC Small
44
13
17
14
ADICH, ADIM, ADRA - PER, AGUDESA, AMA, ASDIR, ASEI, Asociación Arariwa, CDRO, CEADe,
CEPESIU, CREDIMUJER, EDAPROSPO, Emprender, FAPE, FIDERPAC, FINCA - PER, FOMIC,
FONCRESOL, FONDESOL, FONDESURCO, Fonkoze, FOVIDA, Friendship Bridge, Fundación
Alternativa, Fundación MICROS, Fundación Mujer, Fundación San Miguel, FUNDAMIC,
FUNDECOCA, FUNDESPE, FUNSALDE, Genesiss, Grameen Mendoza, IDESI Lambayeque,
IMPRO, INSOTEC, Manuela Ramos, MIDE, OLC, ProCaja, ProMujer - NIC, Sociedad Cooperativa
PADECOMSM, UCADE Ambato
72
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BULLETIN TABLES
MICROBANKING BULLETIN, Issue 18, Spring 2009
PEER GROUP
DATA QUALITY †
N
***
PARTICIPATING INSITUTIONS
**
*
COMPOUND PEER GROUPS 2007
LAC Medium
50
17
21
12
ACME, Actuar Caldas, Actuar Tolima, ADMIC, ADRI, ASP Financiera, AYNLA, Banco da Familia,
Caritas, CEAPE Maranhão, CEPRODEL, COAC Acción Rural, COAC MCCH, COAC Sac Aiet,
Contactar, CRAC Los Andes, Credicoop, CRYSOL, D-Miro, EDPYME Alternativa, EDPYME Nueva
Visión, ENLACE, FAFIDESS, FAMA OPDF, FED, FIE Gran Poder, FINCA - GTM, FINCA - HND, FINCA
- NIC, FODEM, FODEMI, FUNBODEM, Fundación CAMPO, Fundación Espoir, Fundación León
2000, Fundación Paraguaya, FUNDAHMICRO, FUNDEA, FUNDENUSE, FUNDESER, FUNED,
Hermandad de Honduras OPDF, ICC BluSol, MCN, Microserfin, PRISMA, ProMujer - MEX,
ProMujer - PER, SOGESOL, World Relief - HND
LAC Large
85
36
36
13
ACCOVI, ACODEP, ACORDE, ADOPEM, AgroCapital, AMC de R.L., Apoyo Integral, Asociación
Raíz, Banco ADEMI, Banco Solidario, BancoEstado, BancoSol, BanCovelo, BanDesarrollo
Microempresas, BANEX (ex FINDESA), BanGente, BCSC, Caja Nor Perú, Caja Popular Mexicana,
CMAC Arequipa, CMAC Cusco, CMAC Del Santa, CMAC Huancayo, CMAC Ica, CMAC Maynas,
CMAC Paita, CMAC Sullana, CMAC Tacna, CMAC Trujillo, CMM Bogotá, CMM Medellín, COAC
Jardín Azuayo, COAC Mushuc Runa, COAC San José, CODESARROLLO, CompartamosBanco,
Coop Fátima, Coop Universitaria, COOPAC San Martín, COOPAC Santo Cristo, CRECER, Credi
Fé, CrediAmigo, Crediscotia, Diaconia, EcoFuturo FFP, EDPYME Confianza, EDPYME Crear
Arequipa, EDPYME Crear Tacna, EDPYME Efectiva, EDPYME Proempresa, FADES, Fassil FFP, FDL,
FIE FFP, FIELCO, FinAmérica, Financiera Edyficar, Financiera Fama, Financiera Familiar, FINCA ECU, FINCA - MEX, FinComún, FINSOL, FMM Bucaramanga, FMM Popayán, FMSD, Fortaleza FFP,
Fundación Nieborowski, Génesis Empresarial, Interactuar, Interfisa, MiBanco, Microempresas
de Antioquia, ODEF Financiera S.A., PRESTANIC, ProCredit - BOL, ProCredit - ECU, ProCredit NIC, ProCredit - SLV, PRODEM FFP, PRODESA, ProMujer - BOL, Visión Banco, WWB Cali
LAC FSS
146
60
58
28
[These names are held confidential]
LAC Non FSS
33
6
16
11
[These names are held confidential]
MENA Small
2
0
2
0
Azal, NMF
MENA Medium
10
0
9
1
Al Karama, Al Majmoua, Al Tadamun, AMC, Ameen, AMSSF/MC, CEOSS, FATEN, INMAA, SBACD
MENA Large
12
1
11
0
ABA, Al Amana, DBACD, Enda, FBPMC, FONDEP, Lead Foundation, MEMCO, MFW, Tamweelcom,
UNRWA, Zakoura
MENA FSS
16
1
14
1
[These names are held confidential]
MENA Non FSS
8
0
8
0
[These names are held confidential]
†
***
**
*
The MicroBanking Bulletin uses the following grading system to classify information received from MFIs:
The information is supported by an in-depth financial analysis conducted by an independent entity in the last three years
The MBB questionnaire plus audited financial statements, annual reports and other independent evaluations
The MBB questionnaire or audited financial statements without additional documentation
Microfinance Information Exchange, Inc
73
APPENDICES
APPENDICES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Appendix I: Notes Adjustments
and Statistical Issues
MICROBANKING BULLETIN, Issue 18, Spring 2009
The MicroBanking Bulletin is open to all MFIs that are
willing to disclose financial data that meet a simple
quality test. Participating MFIs typically have three
characteristics: 1) they are willing to be transparent by
submitting their performance data to an independent
agency; 2) they display a strong social orientation by
providing financial services to low-income persons;
and 3) they are able to answer all the questions
needed for our analysis.
Data Quality Issues
The Bulletin has a data quality grade to represent the
degree to which we have independent verification of
an MFI’s data. Three star information (***) has been
independently generated through a detailed financial
analysis by an independent third party, such as a
CAMEL evaluation, a CGAP appraisal, or assessments
by reputable rating agencies. Two star information
(**) is backed by accompanying documentation, such
as audited financial statements, annual reports, and
independent program evaluations that provide a
reasonable degree of confidence for our adjustments.
One star information (*) is from MFIs that have limited
themselves to completing our questionnaire. These
grades signify confidence levels on the reliability of
the information; and in no way represent a rating of
the financial performance of the MFIs.
The criteria used in constructing the statistical tables
are important for understanding and interpreting the
information presented. Given the voluntary nature and
origin of the data, the Bulletin staff, Editorial Board and
funders cannot accept responsibility for the validity of
the results presented, or for consequences resulting
from their use. The data quality grade makes tentative
distinctions about the quality of data presented to
us, and we include only information for which we
have a reasonable level of comfort. However, we
cannot exclude the possibility of misrepresented selfreported results.
Potential distortions may arise from: (1) unreported
subsidies and (2) misrepresented loan portfolio quality.
74
Microfinance Information Exchange, Inc
There can also be inaccuracies in reporting the costs
of financial services in multipurpose institutions that
also provide non-financial services, in part because of
difficulties in assigning overhead costs. These risks are
highest for younger institutions, and for institutions
with a record of optimistic statement of results. If we
have grounds for caution about the reliability of an
MFI’s disclosure, we will not include its information in
a peer group unless it has been externally validated
by a third party in which we have confidence.
Adjustments to Financial Data
The Bulletin adjusts the financial data it receives to
ensure comparable results. The financial statements
of each organization are converted to the standard
financial statement presentation used by the Bulletin.
This presentation can be simpler than that used
by most MFIs; so, the conversion consists mainly of
consolidation into fewer, more general accounts. In
some instances, and where the original accounts did
not have appropriate disclosure, the Bulletin’s accounts
reveal more details on the financial service operations
than did the originals. After this reclassification,
three analytical adjustments are applied to produce
a common treatment for the effect of: a) inflation, b)
subsidies, and c) loan loss provisioning and write-off.
In the statistical tables the reader can compare these
adjusted results.
Inflation
The Bulletin reports the net effect of inflation by
calculating increases in expenses and revenues
due to inflation. Inflation decreases the value of
net monetary assets, represented by the Bulletin
as the difference between equity and fixed assets.
This erosion in the value of net monetary assets is
obtained by multiplying the prior year-end equity
balance by the current-year inflation rate.1 Fixed asset
accounts, on the other hand, are revalued upward
1
Inflation data are obtained from line 64x of the International
Financial Statistics, International Monetary Fund, various years.
APPENDICES
MICROBANKING BULLETIN, Issue 18, Spring 2009
by the current year’s inflation rate, which results
in inflation adjustment income, offsetting to some
degree the expense generated by adjusting equity.2
On the balance sheet, this inflation adjustment
results in a reordering of equity accounts: profits are
redistributed between real profit and the nominal
profits required to maintain the real value of equity.
MFIs that borrow from banks or mobilize savings have
an actual interest expense, which is an operating cost.
In comparison, similar MFIs that lend only their equity
have no interest expense and therefore have lower
operating costs. If an MFI focuses on sustainability
and the maintenance of its capital/asset ratio, it
must increase the size of its equity in nominal terms
to continue to make the same value of loans in real
(inflation-adjusted) terms. Inflation increases the
cost of tangible items over time, so that a borrower
needs more money to purchase them. MFIs that want
to maintain their support to clients must therefore
offer larger loans. Employees’ salaries go up with
inflation, so the average loan balance and portfolio
must increase to compensate, assuming no increase
in interest margin. Therefore, an institution that funds
its loans with its equity must maintain the real value of
that equity, and pass along the cost of doing so to the
client. This expectation implies MFIs should charge
interest rates that include the inflation adjustment
expense as a cost of funds, even if this cost is not
actually paid to anyone outside the institution.
Some countries with high or volatile levels of inflation
require businesses to use inflation-based accounting on
their audited financial statements.We use a proxy of this
same technique in the Bulletin. Of course, we understand
that in countries where high or volatile inflation is a
new experience, MFIs may find it difficult to pass on the
full cost of inflation to clients. These adjustments not do
reflect policy recommendations; rather, they provide
a common analytical framework that compares real
financial performance meaningfully.
the limitations imposed by subsidized funding. The
subsidy adjustment permits an MFI to judge whether
it is on track toward such an outcome. A focus on
sustainable expansion suggests that subsidies should
be used to defray start-up costs or support innovation.
The subsidy adjustment simply indicates the extent
to which the subsidy is being passed on to clients
through lower interest rates or whether it is building
the MFI’s capital base for further expansion.
The Bulletin adjusts for three types of subsidies: (1) a
cost-of-funds subsidy from loans at below-market
rates, (2) current-year cash donations to fund portfolio
and cover expenses, and (3) in-kind subsidies,
such as rent-free office space or the services of
personnel who are not paid by the MFI and thus not
reflected on its income statement. Additionally, for
multipurpose institutions, the MicroBanking Bulletin
attempts to isolate the performance of the financial
services program, removing the effect of any cross
subsidization.
The cost-of-funds adjustment reflects the impact of soft
loans on the financial performance of the institution.
The Bulletin calculates the difference between what
the MFI actually paid in interest on its subsidized
liabilities and what it would have paid at market terms.3
This difference represents the value of the subsidy,
which we treat as an additional financial expense. We
apply this subsidy adjustment to the average balance
of borrowings carried by the MFI over the year. The
decreased profit is offset by generating a “cost of funds
adjustment” account on the balance sheet.
If the MFI passes on the interest rate subsidy to its
clients through a lower final rate of interest, this
adjustment may result in an operating loss. If the MFI
does not pass on this subsidy, but instead uses it to
increase its equity base, the adjustment indicates
the amount of the institution’s profits that were
attributable to the subsidy rather than operations.
Subsidies
Loan Loss Provisioning
We adjust participating institutions’ financial
statements for the effect of subsidies by presenting
them as they would look on an unsubsidized basis.
These adjustments do not intend to suggest that MFIs
should or should not be subsidized. Rather, they allow
the Bulletin to see how each MFI would look without
subsidies for comparative purposes. Most of the
participating MFIs indicate a desire to grow beyond
Finally, we apply standardized policies for loan loss
provisioning and write-off. MFIs vary tremendously
2
In fact, an institution that holds fixed assets equal to its equity
avoids the cost of inflation that affects MFIs which hold much of
their equity in financial form.
3
Data for shadow interest rates are obtained from line 60l of
the International Financial Statistics, IMF, various years. The
deposit rate is used because it is a published benchmark in
most countries. Sound arguments can be made for use of
different shadow interest rates. NGOs that wish to borrow from
banks would face interest significantly higher than the deposit
rate. A licensed MFI, on the other hand, might mobilize savings
at a lower financial cost than the deposit rate, but reserve
requirements and administrative costs would drive up the
actual cost of such liabilities.
Microfinance Information Exchange, Inc
75
APPENDICES
MICROBANKING BULLETIN, Issue 18, Spring 2009
in accounting for loan delinquency. Some count the
entire loan balance as overdue the day a payment
is missed. Others do not consider a loan delinquent
until its full term has expired. Some MFIs write off
bad debt within one year of the initial delinquency,
while others never write off bad loans, thus carrying
forward a defaulted loan that they have little chance
of ever recovering.
We classify as “at risk” any loan with a payment over 90
days late. We provision 50 percent of the outstanding
balance for loans between 90 and 180 days late,and 100
percent for loans over 180 days late. Some institutions
also renegotiate (refinance or reschedule) delinquent
loans. As these loans present a higher probability of
default, we provision all renegotiated balances at 50
Table 1
percent. Wherever we have adequate information,
we adjust to assure that all loans are fully written off
within one year of their becoming delinquent. (Note:
We apply these provisioning and write-off policies for
benchmarking purposes only. We do not recommend
that all MFIs use exactly the same policies.) In most
cases, these adjustments are a rough approximation
of risk. They are intended only to create a minimal
even playing field for cross institutional comparison
and benchmarking. Nevertheless, most participating
MFIs have high-quality loan portfolios; so, loan loss
provision expense is not an important contributor to
their overall cost structure. If we felt that a program did
not fairly represent its general level of delinquency,
and we were unable to adjust it accordingly, we would
simply exclude it from the peer group.
Financial Statement Adjustments and Their Effects
Adjustment
Effect on Financial Statements
Type of Institution Most
Affected by Adjustment
Inflation adjustment of
equity (minus net fixed
assets)
Increases financial expense accounts on income
statement, to some degree offset by inflation income
account for revaluation of fixed assets. Generates a
reserve in the balance sheet’s equity account, reflecting
that portion of the MFI’s retained earnings that has
been consumed by the effects of inflation. Decreases
profitability and “real” retained earnings.
MFIs funded more by equity than
by liabilities will be hardest hit,
especially in high inflation countries.
Reclassification of certain
long term liabilities into
equity, and subsequent
inflation adjustment
Decreases concessional loan account and increases
equity account; increases inflation adjustment on
income statement and balance sheet.
NGOs that have very long-term,
very low-interest “loans” from
international agencies that function
more as donations than loans,
or transformed institutions with
subordinated debt.
Cost of funds adjustment
Increases financial expense on income statement to the
extent that the MFI’s liabilities carry a below-market rate
of interest. Decreases net income and increases subsidy
adjustment account on balance sheet.
MFIs with heavily subsidized loans
(i.e., large lines of credit from
governments or international
agencies at highly subsidized rates).
Reclassification of donations below net operating income
Reduces net operating income on the income
statement. Increases accumulated donations account
under equity on the balance sheet.
NGOs during their start-up phase.
This adjustment is relatively less
important for mature institutions.
In-kind subsidy adjustment (e.g., donation of
goods or services: line
staff paid for by technical
assistance providers)
Increases administrative expense on income statement
to the extent that the MFI is receiving subsidized or
donated goods or services. Decreases net income,
increases subsidy adjustment account on balance sheet.
MFIs using goods or services for
which they are not paying a marketbased cost (i.e., MFIs during their
start-up phase).
Loan loss provisioning
adjustment
Usually increases loan loss provision expense on inMFIs that have unrealistic loan loss
come statement and loan loss reserve on balance sheet. provisioning policies.
Write-off adjustment
On balance sheet, reduces gross loan portfolio and loan
loss reserve by an equal amount, so that neither net
loan portfolio nor total assets is affected.
76
Microfinance Information Exchange, Inc
MFIs that leave non-performing
loans on their books for over a year.
APPENDICES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Apendix II: Participating Institutions
APPENDICES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Acronym
Name
Country
Data Quality
2005
2006
2007
1st Valley Bank
1st Valley Bank (formerly Rural Bank of Kapatagan Valley, Inc).
Philippines
**
**
**
ABA
Alexandria Business Association
Egypt
**
*
**
ABCRDM
All Backward Class Relief and Development Mission
India
*
**
**
ABS - CBN
ABS - CBN Bayan Foundation, Inc.
Philippines
**
**
**
ACBA
Agricultural Cooperative Bank of Armenia
Armenia
**
**
**
AccessBank
AccessBank
Azerbaijan
**
**
**
ACCOVI
Asociación Cooperativa de Ahorro y Crédito Vincentina de R.L.
El Salvador
***
***
**
ACEP Senegal
Alliance de Credit et d'Epargne pour la Production
Senegal
**
**
*
**
ACLEDA
ACLEDA Bank Plc.
Cambodia
**
**
ACME
Association Pour la Cooperation avec la Micro Enterprise
Haiti
**
***
*
ACODEP
Asociación de Consultores para el Desarrollo de la Pequeña Mediana
y Microempresa
Nicaragua
**
***
***
ACORDE
Asociación Costarricense para organizaciones de Desarrollo
Costa Rica
**
**
**
**
ACSI
Amhara Credit and Savings Institution
Ethiopia
**
**
Actuar Caldas
Corporación Acción Por Caldas ACTUAR Famiempresas
Colombia
**
**
*
Actuar Tolima
ACTUAR Famiempresas - Tolima
Colombia
**
**
*
ADICH
Asociación para el Desarrollo Integral Comunitario de Honduras
Honduras
**
**
*
ADIM
Asociación Alternativa Para el Desarrollo Integral de las Mujeres
Nicaragua
**
**
**
ADMIC
Asesoría Dinámica a Microempresas
Mexico
**
**
*
ADOPEM
Asociación Dominicana para el Desarrollo de la Mujer
Dominican Republic
***
***
***
ADRA - PER
Adventist Development and Relief Agency International - Peru
Peru
***
**
***
ADRI
Asociación ADRI
Costa Rica
**
**
**
AFK
Agency for Finance in Kosovo
Kosovo
**
**
**
AgroCapital
Fundación AgroCapital
Bolivia
**
***
***
AgroInvest
AgroInvest
Montenegro
**
*
*
Agroinvestbank
OJSC Agroinvestbank
Tajikistan
**
**
**
AGUDESA
Asociación Guatemalteca para el Desarrollo
Guatemala
**
**
***
Aiyl Bank
Aiyl Bank (formerly KAFC)
Kyrgyzstan
***
**
**
Akiba
Akiba Commercial Bank Ltd
Tanzania
**
**
*
Al Amana
Association Al Amana for the Promotion of Micro-Enterprises Morocco
Morocco
**
*
**
Al Karama
Association Al Karama de Micro Credit
Morocco
**
***
**
Al Majmoua
Lebanese Association for Development — Al Majmoua
Lebanon
**
**
*
**
Al Tadamun
Al Tadamun Microfinance Program
Egypt
*
**
Alternativa
CC Alternativa
Russia
*
*
*
AMA
Asociación Mujeres en Acción
Peru
**
*
*
AMC
Ahli Microfinancing Company
Jordan
**
***
**
AMC de R.L.
Sociedad Cooperativa de Ahorro y Crédito AMC de R.L.
El Salvador
***
**
***
Ameen
CHF International/Ameen
Lebanon
**
**
**
AMK
Angkor Mikroheranhvatho Kampuchea
Cambodia
**
***
**
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77
APPENDICES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Acronym
Name
Country
Data Quality
2005
2006
2007
**
AML
Asmitha Microfin Ltd.
India
**
**
AMMACTS
Acts Mahila Mutually Aided Coop Thrift Society
India
*
**
**
AMRET
AMRET Co. Ltd. — formerly EMT
Cambodia
**
**
**
AMSSF/MC
Association Marocaine Societe Sans Frontieres/Micro-redit
Morocco
**
**
**
APED
Association of Progressive Entrepreneurs in Development
Ghana
*
***
*
Apoyo Integral
Apoyo Integral S.A. de C.V.
El Salvador
**
***
**
AREGAK
UMCOR Armenia
Armenia
*
**
**
ARMP
Afghanistan Rural Microcredit Programme (Aga Khan Development Network) Afghanistan
**
**
*
ASA
Association for Social Advancement
Bangladesh
**
**
**
ASDIR
Asociación de Desarrollo Integral Rural
Guatemala
**
**
***
ASEI
Asociación de Extensionistas Empresariales del INCAE
El Salvador
**
**
**
ASHI
Ahon Sa Hirap Inc.
Philippines
**
**
**
***
Asociación Arariwa
Asociación Arariwa
Peru
***
***
Asociación Raíz
Asociación para el Desarrollo RAIZ
Guatemala
**
**
*
ASP Financiera
ASP Financiera
Mexico
**
***
*
AVFS
Africa Village Financial Services
Ethiopia
**
**
*
AYNLA
Asociación Ayudense y Nosotros les Ayudaremos
Guatemala
**
**
**
Azal
Sanaa Microfinance Project (Azal)
Yemen
**
*
**
Azercredit
WV Azercredit LLC
Azerbaijan
***
**
**
Azeri Star
Azeri Star Microfinance
Azerbaijan
*
**
**
**
Bai Tushum
Bai Tushum and Partners
Kyrgyzstan
**
**
Banco ADEMI
Banco ADEMI
Dominican Republic
***
***
**
Banco da Familia
Associacao Brasileira para o Desenvolvimento da Familia
Brazil
**
**
**
Banco Santiago de
Libon
Rural Bank of Santiago Libon (Albay) Inc.
Philippines
**
**
**
Banco Solidario
Banco Solidario
Ecuador
***
***
**
BancoEstado
BancoEstado
Chile
*
*
*
BancoSol
BancoSol
Bolivia
***
***
**
BanCovelo
Banco Popular Covelo
Honduras
***
***
**
BanDesarrollo
Microempresas
Banco del Desarrollo (Bandesarollo Microempresas)
Chile
*
*
*
Bandhan
Bandhan
India
*
**
**
BANEX (ex FINDESA)
Banco del Exito
Nicaragua
***
***
**
BanGente
Banco De La Gente Emprendedora
Venezuela
***
***
*
Bangko Kabayan
Bangko Kabayan (Ibaan Rural Bank Inc.)
Philippines
**
**
**
Bangko Mabuhay
Bangko Mabuhay (RB Tanza Inc.)
Philippines
**
**
**
Bank Eskhata
Bank Eskhata
Tajikistan
**
**
**
BASIX
Bhartiya Samruddhi Finance Limited
India
**
**
**
BCB
Bukidnon Cooperative Bank
Philippines
**
**
**
BCSC
Banco Caja Social Colombia
Colombia
**
***
**
Bereke
Kazakhstan Microcredit Organization Bereke
Kazakhstan
***
**
**
BESA
BESA Foundation
Albania
**
**
**
Bessfa RB
Bessfa Rural Bank
Ghana
*
**
*
BFL
BWDA Finance Ltd.
India
*
*
*
BG
Buusaa Gonofaa
Ethiopia
**
**
*
BISWA
Bharat Integrated Social Welfare Agency
India
***
*
**
BOM
Banco Oportunidade de Moçambique
Mozambique
**
**
**
BRAC
Bangladesh Rural Advancement Committee
Bangladesh
**
*
**
BRAC - AFG
BRAC Afghanistan
Afghanistan
**
**
*
BSS
Bharatha Swamukti Samsthe
India
**
**
**
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APPENDICES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Acronym
Name
Country
Data Quality
2005
2006
2007
BURO Bangladesh
BURO Bangladesh, formerly BURO Tangail
Bangladesh
**
*
**
BZMF
Beselidhja/Zavet Microfinance
Kosovo
**
**
**
Caja Nor Perú
Caja Nor Perú
Peru
***
***
***
Mexico
**
**
**
Caja Popular Mexicana Caja Popular Mexicana
CamCCUL
CamCCUL
Cameroon
*
**
**
Cantilan Bank
Cantilan Bank, Inc.
Philippines
**
**
**
CAPA
CAPA Finance S.A.
Romania
**
**
**
Capitec Bank
Capitec Bank
South Africa
**
**
**
CAPPED
Caisse de Participation à la Promotion des Entreprises et à leur
Développement
Congo
**
**
*
CARD Bank
CARD Bank, Inc.
Philippines
**
**
**
CARD NGO
Center for Agriculture and Rural Development, Inc.
Philippines
**
**
**
Caritas
Caritas
Peru
**
**
**
Cashpor MC
Cashpor Microcredit
India
**
**
**
CBMO
Cooperative Bank of Misamis Oriental Inc.
Philippines
**
**
**
CCA
Crédit Communautaire d'Afrique
Cameroon
*
**
*
CDRO
Asociación Cooperación para el Desarrollo Rural de Occidente
Guatemala
**
***
**
CDS
Crédit du Sahel
Cameroon
*
**
**
CEADe
Centro Ecumênico de Apoio ao Desenvolvimento
Brazil
**
***
**
CEAPE Maranhão
CEAPE Maranhão
Brazil
**
*
*
CEF
Counterpart Enterprise Fund
Russia
***
*
***
Centenary Bank
Centenary Rural Development Bank Ltd.
Uganda
**
**
**
CEOSS
Coptic Evangelical Organization for Social Services
Egypt
**
*
**
CEP
Capital Aid Fund for Employment of the Poor
Vietnam
**
**
**
**
CEPESIU
Centro De Promoción e Empleo Para el Sector Informal Urbana
Ecuador
**
**
CEPRODEL
Centro de Promoción del Desarrollo Local
Nicaragua
**
**
*
CEVI
Community Economic Ventures Inc.
Philippines
**
**
**
CFF
Cedi Finance Foundation
Ghana
*
*
*
CMAC Arequipa
Caja Municipal de Ahorro y Crédito - Arequipa
Peru
***
***
***
CMAC Cusco
Caja Municipal de Ahorro y Crédito - Cusco
Peru
***
***
***
CMAC Del Santa
Caja Municipal de AHorro y Crédito Del Santa
Peru
***
**
*
CMAC Huancayo
Caja Municipal de AHorro y Crédito de Huancayo
Peru
***
***
***
CMAC Ica
Caja Municipal de Ahorro y Crédito - ICA
Peru
***
***
**
CMAC Maynas
Caja Municipal de Ahorro y Crédito de Maynas
Peru
***
***
*
CMAC Paita
Caja Municipal de Ahorro y Crédito de Paita
Peru
***
***
***
CMAC Sullana
Caja Municipal de Ahorro y Crédito de Sullana S.A.
Peru
***
***
***
CMAC Tacna
Caja Municipal de Ahorro y Crédito de Tacna
Peru
***
***
***
CMAC Trujillo
Caja Municipal de Ahorro y Crédito de Trujillo
Peru
***
***
***
CMEDFI
Cebu Micro-Enterprise Development Foundation Inc.
Philippines
**
**
**
CMM Bogotá
Corporación Mundial de la Mujer Colombia - Bogotá
Colombia
**
**
**
CMM Medellín
Corporación Mundial de la Mujer - Medellín
Colombia
**
***
**
CMS
Crédit Mutuel du Sénégal
Senegal
*
**
*
COAC Acción Rural
Cooperativa Acción Rural
Ecuador
**
**
**
COAC Jardín Azuayo
Cooperativa de Ahorro y Crédito Jardín Azuayo
Ecuador
**
***
***
COAC MCCH
Cooperativa de Ahorro y Crédito Maquita Cushunchic
Ecuador
**
***
***
COAC Mushuc Runa
COAC Mushuc Runa Ltda.
Ecuador
**
**
*
COAC Sac Aiet
Cooperativa de Ahorro y Crédito Sac Aiet
Ecuador
**
**
**
COAC San José
Cooperativa de Ahorro y Crédito - San José
Ecuador
**
***
***
CODESARROLLO
CODESARROLLO
Ecuador
***
***
***
Microfinance Information Exchange, Inc
79
APPENDICES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Acronym
CompartamosBanco
Name
Banco Compartamos S.A. Institución de Banca Múltiple
Country
Mexico
Data Quality
2005
2006
2007
***
***
**
***
Contactar
Corporación Nariño Empresa y Futuro
Colombia
**
***
Coop Fátima
Cooperativa Fátima
Bolivia
**
*
*
Coop Universitaria
Cooperativa Universitaria Ldta.
Paraguay
**
**
**
COOPAC San Martín
COOPAC San Martin de Porres - PER
Peru
**
**
*
COOPAC Santo Cristo
COOPAC Santo Cristo de Bagazán
Peru
**
***
**
CRAC Los Andes
Caja Rural de Ahorro y Crédito Los Andes
Peru
***
***
***
CRECER
Crédito con Educación Rural
Bolivia
***
***
***
**
CredAgro NBCO
CredAgro Non-Banking Credit Institution
Azerbaijan
***
**
Credi Fé
Credi Fé Desarrollo Microempresarial S.A.
Ecuador
**
*
**
CrediAmigo
Banco do Nordeste
Brazil
**
**
**
Credicoop
Cooperativa Credicoop Ltda.
Chile
**
*
***
CREDIMUJER
Credito para la Microempresa y el Desarrollo Social
Costa Rica
**
**
**
Crediscotia
Crediscotia Financiera
Peru
***
***
***
CREDIT
CREDIT MFI
Cambodia
**
***
**
CREDO
LLC "MFO CREDO"
Georgia
***
**
**
CReSA
Centre for Rural Reconstruction Through Social Action
India
**
**
**
CRYSOL
Fundación CRYSOL
Guatemala
**
**
**
Crystal
JSC MFO Crystal (formerly Crystal Fund)
Georgia
***
**
**
CZWSDA
Chifeng Zhaowuda Women's Sustainable Development Association
China
*
*
*
DAMEN
Development Action for Mobilization and Emancipation
Pakistan
**
**
**
DBACD
Dakahlya Businessmen's Association for Community Development
Egypt
**
**
**
DD Bank
Deprosc Development Bank Ltd.
Nepal
**
*
*
DECSI
Dedebit Credit and Savings Institution
Ethiopia
**
**
*
DEMOS SLC
DEMOS Savings and Loan Cooperative
Croatia
*
***
*
Diaconia
FRIF Diaconia
Bolivia
**
***
***
D-Miro
D-miro
Ecuador
***
***
***
ECLOF - ARM
Ecumenical Church Loan Fund - ARM
Armenia
**
**
**
ECLOF - PHL
Ecumenical Church Foundation Inc. - PHL
Philippines
***
**
*
EcoFuturo FFP
Eco Futuro Fondo Financiero Privado
Bolivia
***
**
***
EDAPROSPO
EDAPROSPO
Peru
**
**
*
EDPYME Alternativa
EDPYME Alternativa
Peru
***
***
***
EDPYME Confianza
EDPYME Confianza
Peru
***
***
***
EDPYME Crear
Arequipa
EDPYME Crear Arequipa
Peru
***
***
***
EDPYME Crear Tacna
EDPYME Crear Tacna
Peru
***
***
***
EDPYME Efectiva
EDPYME Efectiva
Peru
***
***
**
Peru
***
***
***
EDPYME Nueva Visión EDPYME Nueva Visión
EDPYME Proempresa
EDPYME Proempresa
Peru
***
***
***
EKI
EKI
Bosnia and Herzegovina
***
**
**
Emprender
EMPRENDER Bolivia
Bolivia
**
**
**
Enda
Enda Inter-Arabe
Tunisia
**
**
**
ENLACE
ENLACE - Servicios Financieros S.A de C.V.
El Salvador
**
**
**
Equity Bank
Equity Bank
Kenya
**
**
**
**
ESAF
Evangelical Social Action Forum
India
**
**
Eshet
Eshet
Ethiopia
**
**
*
FADES
Fundación para Alternativas de Desarrollo
Bolivia
***
***
***
FAFIDESS
Fundación de Asesoría Financiera a Instituciones de Desarrollo y Servicio
Social
Guatemala
**
**
*
FAMA OPDF
Familia y Medio Ambiente OPDF
Honduras
**
**
**
80
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APPENDICES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Acronym
Name
Country
Data Quality
2005
2006
2007
FAPE
Fundacion de Asistencia para la Pequeña Empresa
Guatemala
**
**
***
FASL
First Allied Savings & Loans
Ghana
*
*
**
Fassil FFP
Fondo FASSIL
Bolivia
***
***
**
FATEN
Palestine for Credit & Development
Palestine
**
**
**
Faulu - UGA
Faulu - Uganda
Uganda
**
**
**
FBPMC
Fondation Banque Populaire pour le Micro-Credit
Morocco
**
**
**
FCBFI
First Consolidated Bank Foundation Inc.
Philippines
**
**
*
FCC
Fundo de Credito Comunitario
Mozambique
**
**
**
FDL
Fondo de Desarrollo Local
Nicaragua
***
***
***
FDM
Group-Guaranteed Lending and Savings — Fundo de Desenvolvimento
da Mulher
Mozambique
**
**
**
FED
Fundación Ecuatoriana de Desarrollo
Ecuador
**
**
**
FFECC
First Far Eastern Credit Cooperative
Russia
***
**
*
FICO
First Isabela Cooperative Bank
Philippines
**
**
**
FIDERPAC
Fundación Integral de Desarrollo Rural del Pacífico Central
Costa Rica
**
**
**
FIE FFP
Fondo Financiero Privado para el Fomento a Iniciativas Economicas
Bolivia
***
***
**
FIE Gran Poder
FIE Gran Poder S.A.
Argentina
***
**
***
FIELCO
Financiera El Comercio
Paraguay
***
***
***
FinAmérica
Financiera América
Colombia
***
***
**
Financiera Edyficar
Financiera Edyficar S.A.
Peru
***
***
***
***
Financiera Fama
Financiera Fama S.A.
Nicaragua
***
***
Financiera Familiar
Financiera Familiar
Paraguay
***
***
*
FINCA - AFG
FINCA Afghanistan
Afghanistan
**
*
*
FINCA - ARM
FINCA Armenia
Armenia
**
**
**
FINCA - AZE
FINCA Azerbaijan
Azerbaijan
**
**
**
FINCA - DRC
FINCA Democratic Republic of Congo
Congo, DR
**
**
**
FINCA - ECU
FINCA Ecuador
Ecuador
***
***
**
FINCA - GEO
FINCA Georgia
Georgia
**
**
**
FINCA - GTM
FINCA Guatemala
Guatemala
**
**
**
FINCA - HND
FINCA Honduras
Honduras
**
**
***
FINCA - KOS
FINCA - Kosovo
Kosovo
**
**
**
FINCA - MEX
FINCA Mexico
Mexico
**
***
*
FINCA - MWI
FINCA Malawi
Malawi
**
**
**
FINCA - NIC
Fundación Internacional para la Asistencia Comunitaria - Nicaragua
Nicaragua
**
**
***
FINCA - PER
FINCA Peru
Peru
***
***
***
FINCA - TJK
FINCA Tajikistan
Tajikistan
**
**
**
FINCA - TZA
FINCA Tanzania
Tanzania
*
**
**
FINCA - UGA
FINCA Uganda
Uganda
**
**
**
FINCA - ZMB
FINCA Zambia
Zambia
**
**
**
FinComún
Servicios Financieros Comunitarios
Mexico
***
***
*
FINCORP
FINCORP
Swaziland
**
**
**
FinDev
Finance for Development LLC
Azerbaijan
***
**
**
FINSOL
Financiera Solidaria Honduras
Honduras
***
***
**
FMCC
FINCA MicroCredit Company - formerly FINCA Kyrgyzstan
Kyrgyzstan
**
**
**
FMFB - AFG
The First MicroFinanceBank - Afghanistan
Afghanistan
**
**
**
FMFB - Pakistan
First MicroFinanceBank Ltd - Pakistan
Pakistan
***
**
***
FMFB - TJK
The First MicroFinanceBank - Tajikistan
Tajikistan
**
**
**
FMM Bucaramanga
Fundación Mundial de la Mujer Bucaramanga
Colombia
***
***
***
FMM Popayán
Fundación Mundo Mujer Popayán
Colombia
***
***
***
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81
APPENDICES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Acronym
Name
Country
Data Quality
2005
2006
2007
FMSD
Fundación Mario Santo Domingo
Colombia
**
**
**
FODEM
Fondo de Desarrollo para la Mujer
Nicaragua
**
**
**
FODEMI
Fondo de Desarrollo Microempresarial
Ecuador
**
**
*
FOMIC
Fondo de Microproyectos Costarricenses Sociedad Civil
Costa Rica
**
**
*
FONCRESOL
FONCRESOL
Bolivia
**
*
*
FONDEP
Fondation pour le Development Local et le Partenariat Micro-Crédit
Morocco
**
**
***
FONDESOL
FONDESOL
Guatemala
**
*
**
***
FONDESURCO
Fondo de Desarrollo Regional
Peru
**
**
Fonkoze
Fondasyon Kole Zepòl
Haiti
**
*
*
Fortaleza FFP
Fortaleza FFP
Bolivia
***
**
***
FORUS
FORUS Bank
Russia
**
**
**
FOVIDA
Fomento de la Vida
Peru
**
**
*
Friendship Bridge
Friendship Bridge
Guatemala
**
**
***
FUCEC Togo
Faitière des Unités Coopératives d'Epargne et de Crédit du Togo
Togo
**
**
**
FULM
Saving House FULM
Macedonia
**
**
**
FUNBODEM
Fundación Boliviana para el Desarrollo de la Mujer
Fundación Alternativa Fundación Alternativa
Bolivia
**
**
***
Ecuador
**
**
***
Fundación CAMPO
Fundación CAMPO
El Salvador
**
**
**
Fundación Espoir
Fundación Espoir
Ecuador
***
***
***
Fundación León 2000 Fundación León 2000
Nicaragua
**
**
**
Fundación MICROS
Guatemala
**
**
***
Fundación para el Desarrollo de la Microempresa
Fundación Mujer
Fundación Mujer
Costa Rica
**
**
**
Fundación
Nieborowski
Fundación José Nieborowski
Nicaragua
***
**
***
Fundación Paraguaya Fundación Paraguaya de Cooperación y Desarrollo
Paraguay
**
***
**
Fundación San Miguel Fundación San Miguel Arcángel, Inc.
Dominican Republic
**
**
**
FUNDAHMICRO
Fundación Hondureña para el Desarrollo de la Microempresa
Honduras
**
**
*
FUNDAMIC
Fundación de Ayuda Microempresarial
Ecuador
**
**
**
**
FUNDEA
Fundación para el Desarrollo Empresarial y Agrícola
Guatemala
**
**
FUNDECOCA
Fundación Unión y Desarrollo de Comunidades Campesinas
Costa Rica
**
**
*
FUNDENUSE
Fundación para el Desarrollo de Nueva Segovia)
Nicaragua
**
**
***
***
FUNDESER
Fundación para el Desarrollo Socioeconómico Rural
Nicaragua
***
***
FUNDESPE
Fundacion para el Desarrollo de la Pequeña Empresa
Guatemala
**
**
*
Fundusz Mikro
Fundusz Mikro
Poland
**
**
**
FUNED
Fundación para el Desarrollo de Honduras
Honduras
**
**
***
**
FUNSALDE
Fundación Salvadoreña para el Desarrollo
El Salvador
**
**
Gasha
Gasha
Ethiopia
**
**
*
Génesis Empresarial
Fundación Génesis Empresarial
Guatemala
**
**
**
Genesiss
Fundación Genesiss
El Salvador
**
**
*
GK
Grameen Koota
India
*
*
*
Grameen Bank
Grameen Bank
Bangladesh
**
**
**
Grameen Mendoza
Grameen Mendoza
Argentina
**
**
*
Green Bank
Rural Green Bank of Caraga, Inc.
Philippines
**
*
*
GU
Gram-Utthan
India
*
*
**
GV
Grama Vidiyal
India
**
**
**
Hermandad de
Honduras OPDF
Fundación Microfinanciera Hermandad de Honduras OPDF
Honduras
***
**
*
HKL
Hattha Kaksekar Ltd.
Cambodia
**
**
**
HOPE
HOPE Ukraine
Ukraine
*
*
**
Horizon
Horizon fund
Armenia
**
**
***
82
Microfinance Information Exchange, Inc
APPENDICES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Acronym
Name
Country
Data Quality
2005
2006
2007
Horizonti
Foundation Horizonti Skopje
Macedonia
*
*
**
ICC BluSol
Instituição Comunitária de Crédito Blumenau Solidariedade
Brazil
**
**
***
IDESI Lambayeque
Instituto de Desarrollo del Sector Informal para Lambayeque
Peru
**
**
*
IDF
Integrated Development Foundation
Bangladesh
*
**
*
**
ImerCredit
MFI ImerCredit Ltd. (formerly BAI)
Georgia
*
**
Imkoniyat
Microlending Foundation Imkoniyat
Tajikistan
**
**
*
IMON
LLC Microlending organization IMON INTERNATIONAL
Tajikistan
**
**
**
IMPRO
Incubadores Productivos
Bolivia
***
*
**
INECO
INECO Bank
Armenia
**
**
**
INMAA
Institution Marocaine d'Appui a la Micro-entreprise
Morocco
*
*
**
INSOTEC
Instituto de Investigaciones Socioeconómicas y Tecnológicas
Ecuador
**
**
***
Intellekt
Consumer Credit Cooperative of Citizens 'Intellekt'
Russia
**
**
*
Interactuar
Interactuar
Colombia
**
**
**
Interfisa
GRUPO INTERNACIONAL DE FINANZAS INTERFISA FINANCIERA SAECA
Paraguay
***
***
**
JCF
Jagorani Chakra Foundation
Bangladesh
*
**
*
Jemeni
Jemeni
Mali
**
**
**
JSC Bank Constanta
JSC Bank Constanta
Georgia
***
***
**
KADET
Kenya Agency to Development of Enterprise and Technology
Kenya
**
**
*
Kafo Jiginew
Kafo Jiginew
Mali
**
**
**
Kakum RB
Kakum RB
Ghana
*
*
**
KAMURJ
Microenterprise Development Fund Kamurj
Armenia
*
*
*
KAS
KAS Foundation
India
**
*
**
Kasagana-Ka
Kasagana-Ka Development Foundation, Inc.
Philippines
**
**
**
**
Kashf
Kashf Foundation
Pakistan
**
**
Kazama Grameen
Kazama Grameen, Inc.
Philippines
*
*
*
KBSLAB
Krishna Bhima Samruddhi Local Area Bank Limited
India
**
**
**
KEP
Kosovo Enterprise Program
Kosovo
**
**
**
Khan Bank
Khan Bank (Agricultural Bank of Mongolia LLP)
Mongolia
**
**
**
Khushhali Bank
Khushhali Bank
Pakistan
**
**
**
KMB
KMB Bank
Russia
**
**
**
KMBI
Kabalikat para sa Maunlad na Buhay, Inc.
Philippines
**
**
**
KMF
Kazmicrofinance, LLC (formerly KLF)
Kazakhstan
**
**
**
Kompanion
MCC 'Kompanion Financial Group '
Kyrgyzstan
**
**
**
Kondo Jigima
Kondo Jigima
Mali
**
**
*
KosInvest
KosInvest
Kosovo
**
**
**
K-Rep
K-Rep Bank
Kenya
**
**
**
KRK Ltd
Kreditimi Rural i Kosoves LLC (formerly Rural Finance Project of Kosovo)
Kosovo
**
**
**
KRUSHI
KRUSHI
India
*
*
*
KWFT
Kenya Women Finance Trust
Kenya
**
*
*
***
LAPO
Lift Above Poverty Organisation
Nigeria
**
**
Lazika Capital
Small Business Development Foundation
Georgia
**
***
**
Lead Foundation
Lead Foundation
Egypt
**
**
**
LIDER
LIDER
Bosnia and Herzegovina
**
**
**
LOK Microcredit
Foundation
LOK Microcredit Foundation
Bosnia and Herzegovina
**
***
**
LPD Ambengan
LPD Ambengan, Kab Buleleng, Bali
Indonesia
*
*
*
LPD Bayung Gede
LPD Desa Adat Bayung Gede Bangli
Indonesia
*
*
*
LPD Bedha
LPD Bedha
Indonesia
*
*
*
LPD Buahan
LPD Buahan
Indonesia
*
*
*
LPD Celuk
LPD Celuk
Indonesia
*
*
*
Microfinance Information Exchange, Inc
83
APPENDICES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Acronym
Name
Country
Data Quality
2005
2006
2007
LPD Ketewel
LPD Ketewel
Indonesia
*
*
*
LPD Kukuh
LPD Kukuh
Indonesia
*
*
*
LPD Kuta
LPD Kuta
Indonesia
*
*
*
LPD Pecatu
LPD Pecatu
Indonesia
*
*
*
LPD Sibetan
LPD Desa Adat Sibetan, Karangasem
Indonesia
*
*
*
LPD Ubung
LPD Ubung
Indonesia
*
*
*
Maata-N-Tudu
Maata-N-Tudu Association
Ghana
*
*
**
Mahasemam - SMILE
Mahasemam - SMILE
India
**
*
**
Mallig Plains RB
Mallig Plains Rural Bank (Isabela), Inc.
Philippines
**
**
**
Manuela Ramos
Movimiento Manuela Ramos
Peru
**
**
***
MBK Ventura
PT Mitra Bisnis Keluarga Ventura (formerly Ganesha)
Indonesia
**
**
**
MCN
Micro Crédit National
Haiti
***
**
**
MDF
Micro Development Fund
Serbia
**
**
**
MDSL
Microenterprise Development Services Ltd / formerly Sunlink
Kenya
**
**
**
MEDF
Mindanao Enterprise Development Foundation
Philippines
*
**
*
MED-Net
Micro Enterprise Development Network
Uganda
**
**
*
MEMCO
Middle East Microcredit Company
Jordan
**
**
**
Metemamen
Metemamen
Ethiopia
**
**
*
MFI
Microcredit Foudation of India
India
**
*
*
**
MFW
Microfund for Women
Jordan
**
**
MGBB
Madhyamanchal Grameen Bikas Bank Ltd.
Nepal
**
*
**
MiBanco
MiBanco
Peru
***
***
***
MI-BOSPO
MI-BOSPO Tuzla
Bosnia and Herzegovina
**
**
**
Microempresas de
Antioquia
Microempresas de Antioquia
Colombia
**
**
**
Microinvest
JV MFO Microinvest LLC
Moldova
**
**
**
Microserfin
Microserfin
Panama
**
**
**
MIDE
MICROCREDITO PARA EL DESARROLLO
Peru
**
**
*
MIKRA
MIKRA
Bosnia and Herzegovina
**
**
**
Mikro ALDI
Mikro ALDI
Bosnia and Herzegovina
***
**
**
MIKROFIN
MIKROFIN Banja Luka
Bosnia and Herzegovina
**
**
**
Mikrofond
Mikrofond
Bulgaria
***
***
***
MikroMaliyye Credit
MikroMaliyye Credit Institution
Azerbaijan
**
**
**
MLF HUMO
MLF HUMO
Tajikistan
**
***
**
MLF MicroInvest
MLF MicroInvest
Tajikistan
**
***
**
**
Moznosti
Savings House Moznosti LLC Skopje
Macedonia
**
**
Naara RB
Naara RB
Ghana
*
**
**
Nachala
Nachala Cooperative
Bulgaria
**
**
**
New RB of Victorias
New Rural Bank of Victorias Inc.
Philippines
**
**
**
Nirdhan
Nirdhan Utthan Bank Ltd.
Nepal
***
**
*
NMF
National Microfinance Foundation
Yemen
**
**
**
NMFB
Network Microfinance Bank Limited
Pakistan
**
**
**
NOA
NOA STEDNO KREDITNA ZADRUGA
Croatia
*
*
*
Normicro
Norwegian Microcredit LLC
Azerbaijan
**
**
**
NovoBanco - MOZ
NovoBanco Mozambique
Mozambique
**
**
**
NWTF
Negros Women for Tomorrow Foundation, Inc.
Philippines
**
**
**
Nyesigiso
Nyesigiso
Mali
*
**
**
OBM
Opportunity Bank Montenegro
Montenegro
**
**
**
OBS
Opportunity Bank Serbia
Serbia
**
**
**
ODEF Financiera S.A.
Organización de Desarollo Empresarial Femenino Financiera S.A.
Honduras
**
**
***
84
Microfinance Information Exchange, Inc
APPENDICES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Acronym
Name
Country
Data Quality
2005
2006
OISL
Opportunity International Savings and Loans - Ghana
Ghana
**
**
2007
**
OLC
Oportunidad Latinoamerica Colombia (OLC)
Colombia
**
**
**
OMB
Opportunity Microfinance Bank Inc.
Philippines
*
**
**
OMO
Omo Microfinance Institution
Ethiopia
**
**
*
OMRO
Opportunity Microfinance Romania
Romania
*
*
**
Opportunity Albania
Opportunity Albania (formerly PSHM)
Albania
**
**
**
PADME
Association pour la Promotion et l' Appui au Développement de
MicroEntreprises
Benin
**
**
*
PALFSI
People's Alternative Livelihood Foundation of Sorsogon, Inc.
Philippines
**
**
**
Partner
Partner
Bosnia and Herzegovina
**
**
**
Parwaz
Parwaz MicroFinance Institution
Afghanistan
**
**
*
**
PEACE
Poverty Eradication & Community Empowerment
Ethiopia
**
**
PGBB
Western Region Grameen Bikas Bank
Nepal
***
*
*
PRASAC
PRASAC MFI Ltd
Cambodia
**
**
**
PRESTANIC
Asociación Fondo Nicaraguense para el Desarrollo Comunitario
Nicaragua
**
**
**
PRIDE - TZA
PRIDE Tanzania
Tanzania
**
**
*
PRISMA
Asociación Benefica Prisma
Peru
**
***
***
PRIZMA
PRIZMA
Bosnia and Herzegovina
**
**
**
ProCaja
Asociación para el Desarrollo de las Cajas Rurales
Panama
**
**
**
ProCredit - BOL
Banco Los Andes ProCredit
Bolivia
***
**
**
ProCredit - ECU
Banco ProCredit S.A. (Ex Sociedad Financiera Ecuatorial S.A. SFE)
Ecuador
***
***
***
ProCredit - GHA
ProCredit SLC Ghana
Ghana
**
**
**
ProCredit - MDA
ProCredit Moldova - formerly MEC
Moldova
**
**
**
ProCredit - NIC
Banco ProCredit Nicaragua
Nicaragua
***
***
**
ProCredit - SLV
Banco ProCredit El Salvador
El Salvador
***
***
**
ProCredit Bank - ALB
ProCredit Bank Albania - formerly FEFAD Bank
Albania
**
**
**
ProCredit Bank - BGR
ProCredit Bank Bulgaria
Bulgaria
**
**
**
ProCredit Bank - BIH
ProCredit Bank Bosnia and Herzegovina
Bosnia and Herzegovina
**
**
**
ProCredit Bank - GEO
ProCredit Bank Georgia - formerly MBG
Georgia
**
**
**
ProCredit Bank - KOS
ProCredit Bank Kosovo - formerly MEB
ProCredit Bank - MKD ProCredit Bank Macedonia
Kosovo
**
**
**
Macedonia
**
**
**
ProCredit Bank - ROM ProCredit Bank Romania - formerly Miro Bank
Romania
**
**
**
ProCredit Bank - UKR
Ukraine
**
**
**
ProCredit Bank Ukraine - formerly Microfinance Bank
ProCredit Bank Serbia ProCredit Bank Serbia - formerly MFB
Serbia
**
**
**
PRODEM FFP
Fondo Financiero Privado PRODEM
Bolivia
***
**
**
PRODESA
Fundacion Para La Promocion y el Desarrollo
Nicaragua
**
***
**
ProMujer - BOL
Programas para la Mujer - Bolivia
Bolivia
***
**
*
ProMujer - MEX
Asociación Pro Mujer de Mexico A.C.
Mexico
**
*
*
ProMujer - NIC
Programas para la Mujer - Nicaragua
Nicaragua
**
**
***
ProMujer - PER
Programas para la Mujer - Peru
Peru
***
***
**
RASS
Rashtriya Seva Samithi
India
*
*
*
RB Digos
Rural Bank of Digos Inc.
Philippines
**
**
**
RB Lebak
Rural Bank of Lebak (Sultan Kudarat), Inc.
Philippines
**
**
**
RB Mabitac
Rural Bank of Mabitac Inc.
Philippines
**
**
**
RB Oroquieta
Rural Bank of Oroquieta (Miss. Occ.), Inc.
Philippines
**
**
**
RB Solano
Rural Bank of Solano Inc.
Philippines
**
**
**
RB Sto. Tomas
Rural Bank of Sto. Tomas (Davao) Inc.
Philippines
**
**
**
RB Talisayan
Rural Bank of Talisayan - Misamis Oriental Inc.
Philippines
**
**
**
RCPB
Réseau des caisses populaires du Burkina Faso
Burkina Faso
*
**
**
RGVN
Rashtriya Gramin Vikas Nidhi
India
**
*
*
Microfinance Information Exchange, Inc
85
APPENDICES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Acronym
Name
Country
Data Quality
2005
2006
Rost
Consumer Credit Cooperative 'Rost'
Russia
*
**
2007
*
Rozgar
Rozgar MicroFinance Bank Limited
Pakistan
**
**
**
Saadhana
Saadhana Microfin
India
**
**
**
Sanghamithra
Sanghamitra Rural Financial Service
India
*
*
*
Sarvodaya Nano
Finance
Sarvodaya Nano Finance Limited
India
**
**
**
SAT
Sinapi Aba Trust
Ghana
**
**
***
Sathapana Limited
Sathapana Limited (formerly CEB)
Cambodia
**
**
**
**
SBACD
Sharkia Businessmen's Association for Community Development
Egypt
*
**
SBS
Union of Bank Workers
Russia
*
**
**
SEAP
Self-Reliance Economic Advancement Programme
Nigeria
**
**
**
SED
Small Enterprise Development (SED) Company Ltd.
Thailand
**
**
*
**
SEDA
Small Enterprise Development Agency
Tanzania
**
**
SEEDS
Sarvodaya Economic Enterprise Development Services
Sri Lanka
*
*
*
SEF - ARM
SEF International Universal Credit Organization - Armenia
Armenia
**
**
**
SEF - ZAF
Small Enterprise Foundation (South Africa)
South Africa
*
*
*
SFPI
Specialized Financial and Promotional Institution
Ethiopia
**
**
*
SHARE
SHARE Microfin Ltd.
India
**
**
**
SINERGIJA
SINERGIJAplus
Bosnia and Herzegovina
***
**
**
SKDRDP
Shri Kshetra Dharmasthala Rural Development Project
India
**
*
*
SKS
SKS Microfinance Private Limited
India
**
***
**
SMEP
Small and Micro Enterprise Project
Kenya
**
**
**
SMSS
Star MicroFin Service Society, formerly SYA
India
**
*
**
Sociedad Cooperativa Sociedad Cooperativa PADECOMSM Credito de RL de CV
PADECOMSM
El Salvador
**
**
**
Sodeistviye
(Pyatigorsk)
CCCC 'Sodeistviye' (Pyatigorsk)
Russia
*
*
*
Sodeystviye
Consumer Credit Cooperative of Citizens 'Sodeystviye'
Russia
*
*
*
**
SOGESOL
Société Générale Haitïenne de Solidarité
Haiti
**
**
Sonzelle RB
Sonzelle RB
Ghana
**
*
*
Spandana
Spandana Sphoorty Innovative Financial Services Ltd.
India
**
***
**
SPBD
South Pacific Business Development
Samoa
**
**
**
Sunrise
Microcredit Foundation Sunrise
Bosnia and Herzegovina
**
***
**
SWAWS
Sharada's Womes's Association for Weaker Section
India
***
**
**
Tamweelcom
Tamweelcom, formerly JMCC
Jordan
**
***
**
Tchuma
Tchuma Cooperativa de Crédito e Poupança
Mozambique
**
**
*
**
TFS
Transcapital Financial Services Co. Ltd
Mongolia
**
**
TMSS
Thengamara Mohila Sabuj Sangha
Bangladesh
*
*
*
Toende RB
Toende RB
Ghana
*
*
**
TPC
THANEAKEA PHUM (CAMBODIA) LTD.
Cambodia
**
**
**
TSKI
Taytay Sa Kauswagan Inc.
Philippines
*
*
*
TSPI
TSPI Development Corporation
Philippines
*
*
*
UCADE Ambato
Proyecto de Salud y Crédito Comunitario de la Diocesis de
Ambato - UCADE - CRS
Ecuador
**
**
*
Ujjivan
Ujjivan Financial Services Pvt. Ltd.
India
**
*
**
UML
Uganda Microfinance Limited
Uganda
**
**
**
UNRWA
UNRWA Microfinance and Microenterprise Department
Palestine
***
*
**
UOMB
Urwego Opportunity Microfinance Bank
Rwanda
**
**
*
**
Upper Manya RB
Upper Manya Kro Rural Bank Limited
Ghana
**
**
USTOI
USTOI
Bulgaria
*
*
*
Valiant RB
Valiant Rural Bank (Iloilo City) Inc.
Philippines
**
**
**
86
Microfinance Information Exchange, Inc
APPENDICES
MICROBANKING BULLETIN, Issue 18, Spring 2009
Acronym
VEF
Name
Visayas Enterprise Foundation
Country
Data Quality
2005
2006
2007
Philippines
**
**
*
***
**
**
*
*
**
VFC
VisionFund Cambodia Ltd. - formerly MED program
Cambodia
VFS
Village Financial Services Private Ltd.
India
Viator
Viator Microcredit Azerbaijan LLC
Azerbaijan
***
*
*
Visión Banco
Visión Banco S.A.E.C.A.
Paraguay
***
***
**
Vital Finance
Vital Finance
Benin
**
**
**
VRFSBS
Voronezh Regional Fund for Small Business Support
Russia
**
**
***
WAGES
Women and Associations for Gain both Economic and Social
Togo
*
**
*
Wasasa
Wasasa
Ethiopia
**
**
**
Wisdom
Wisdom
Ethiopia
**
**
*
Women for Women
MCO Women for Women International
Bosnia and Herzegovina
**
**
**
World Relief - HND
World Relief Honduras
Honduras
**
**
**
WWB Cali
Women's World Banking - Cali
Colombia
***
***
***
XacBank
XacBank
Mongolia
**
**
**
Zakoura
Fondation Zakoura
Morocco
**
**
**
***
**
*
The MicroBanking Bulletin uses the following grading system to classify information received from MFIs:
The information is supported by an in-depth financial analysis conducted by an independent entity in the last three years
The MBB questionnaire plus audited financial statements, annual reports and other independent evaluations
The MBB questionnaire or audited financial statements without additional documentation
Microfinance Information Exchange, Inc
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MicroBanking Bulletin, Issue 18, Spring 2009
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services for the microfinance industry. Dedicated to
strengthening the microfinance sector by promoting
transparency, MIX provides detailed performance and
financial information on microfinance institutions,
investors, networks and services providers associated
with the industry. MIX does this through a variety of
publicly available platforms, including MIX Market
(www.mixmarket.org) and the MicroBanking Bulletin.
Visit www.themix.org for more information.
THE
MICROBANKING
BULLETIN NO. 18
MICROBANKING BULLETIN
MIX is a non profit organization founded by CGAP
(Consultative Group to Assist the Poor), and sponsored by
CGAP, Citi Foundation, Deutsche Bank Americas
Foundation, Omidyar Network, Open Society and the
Soros Economic Development Fund, IFAD (International
Fund for Agricultural Development), Bill and Melinda
Gates Foundation. MIX is a private corporation.
Microfinance information eXchange, Inc
The MICROBANKING BULLETIN
The
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Issue No. 18 Spring 2009
Microfinance Information Exchange, Inc.
1901 Pennsylvania Avenue, NW Suite 307
Washington, DC 20006
Tel: +1 202 659 9094
Fax: +1 202 659 9095
e-mail: [email protected]
website: www.themix.org
Published by
Microfinance Information eXchange
Issue No. 18
Spring 2009
A publication dedicated to the performance of organizations that
provide banking services for the poor