Analysis of 11 Micro-Finance Institutions
SUMMARY DATA 1993 BKDs LPDs GRAMEEN KREP BRK ADOPEM FINCA ACTUAR BRI BANCOSOL ACEP COUNTRY DATA POPULATION (millions) 14.8 2.8 108 25 8.5 77 3.2 32.8 181.3 7.3 7.9 GNP PER CAPITA $670 $670 $220 $310 $280 $1,050 $1,960 $1,330 $670 $680 $780 CURRENT INFLATION RATE 9.5% 9.5% 7.8 47.1% 0.4% 5.3% 9.0% 19.2% 9.5% 9.3% 6.0% BASIC INSTITUTIONAL PROFILE NUMBER OF BRANCH OFFICES 5.345 651 1,030 6 14 6 1 13 3,267 21 19 NUMBER OF EMPLOYEES 16,035 4,913 10,452 60 34 47 19 355 16,067 335 31 TOTAL ASSETS ($ in millions) $62.59 $25.59 $238.69 $1.94 $1.58 $1.79 $1.70 $15.68 $2.28 $34.10 $2.14 AVERAGE ANNUAL GROWTH TOTAL ASSETS 2% 34% 30% 116% 69% 99% 39% 131% 15% 190% 25% CLIENTS-WOMEN 50% 40% 94% 60% 45% 100% 26% 50% 24% 71% 20% PROFILE OF CREDIT SERVICE (*) TOTAL VALUE OF ALL LOANS OUTSTANDING $34.19 $18.80 $159.48 $1.14 $1.50 $1.07 $1.58 $11.73 $937.62 $24.83 $2.14 ($ in millions) NUMBER OF LOAN CLIENTS 907,45 145,1 1,586,71 5,303 8,787 3,500 5,121 32,022 1,897, 46,428 2,109 1 83 0 265 AVERAGE OUTSTANDING BALANCE $38 $130 $101 $217 $221 $308 $310 $366 $494 $535 $1,016 ANNUAL GROWTH RATE, LOAN PORTFOLIO 0% 25% 35% 213% 65% 92% 36% 134% 8% 182% 41% AVERAGE LOAN TERM 4 10 12 mos. 12 10-13 4 & 12 12 5-12mos 24 4-12 12 mos. mos. mos. mos. mos. mos. . mos. mos. mos. EFFECTIVE RATE OF INTEREST 55% 36% 20% 38% 18% 72% 32% 71% 34% 55% 20% CREDIT METHODOLOGY - Groups 0% 0% 100% 100% 80% 40% 100% 90% 0% 100% 2% CREDIT METHODOLOGY - Individual Loans 100% 100% 0% 0% 20% 60% 0% 10% 100% 0% 98% AVERAGE LOAN BALANCE/GNP PER CAPITA 6% 8% 48% 64% 138% 68% 16% 24% 81% 82% 135% CAMEL ANALYSIS - CAPITAL ADEQUACY (*) EQUITY AS PERCENT OF TOTAL ASSETS 82% 20% 31% 89% 100% 18% 29% 16% 5% 16% 93% CAMEL ANALYSIS - ASSET QUALITY (*) DELINQUENCY - Balance Loans Overdue > 90 10.3% 3.9% 2.0% 2.3% 20.0% 4.0% 1.7% 1.3% 6.5% 0.0% 3.0% days EFFECTIVE YIELD ON LOAN PORTFOLIO 37% 36% 20% 22% 9% 49% 24% 50% 28% 45% 27% CAMEL ANALYSIS - STAFF MANAGEMENT AND PERFORMANCE (*) NUMBER LOANS/TOTAL STAFF 57 30 152 88 200 74 270 90 110 139 88 SALARIES/TOTAL ADMINISTRATIVE EXPENSE 69% 65% 64% 68% 69% 48% 65% 75% 53% 60% 55% SALARIES/AVERAGE PORTFOLIO 11.5% 6.6% 9.3% 12.9% 10.1% 16.8% 8.7% 16.2% 4.5% 12.5% 10.6% SALARIES/AVERAGE TOTAL ASSETS 6.3% 5.0% 6.1% 6.9% 9.7% 10.2% 8.2% 12.0% 1.9% 9.2% 6.9% AVERAGE SALARY FIELDWORKER $1,100 $1,15 $687 $6,000 $3,354 $5,750 %6,192 $8,573 $2,567 $3,300 $4,367 0 AS MULTIPLE OF GNP PER CAPITA 1.8 0.7 3.3 17.6 20.6 12.7 3.3 5.5 4.2 5.1 5.8 CAMEL ANALYSIS - EFFICIENCY AND PROFITABILITY (*) OPERATIONAL SELF-SUFFICIENCY (**) 197% 148% 105% 106% 44% 94% 98% 124% 113% 107% 142% FINANCIAL SELF-SUFFICIENCY (***) 118% 137% 79% 38% 43% 89% 75% 104% 110% 103% 100% ADJUSTED RETURN ON AVERAGE TOTAL ASSET 3.2% 7.4% -3.3% -18.5% -11.5% -0.8% -6.3% 4.9% 1.6% 1.0% 0.1% ADJUSTED RETURN EQUITY 3.8% 32.7% -9.7% -15.2% -9.1% -3.3% -18.7% 22.5% 31.0% 4.3% 0.1% ADMIN. EXPENSE/AVERAGE LOAN PORTFOLIO 16.7% 10.1% 14.5% 19.0% 14.8% 35.1% 13.4% 21.5% 8.5% 21.0% 19.1% ADMIN. EXPENSE/AVERAGE TOTAL ASSETS 9.2% 7.7% 9.5% 10.1% 14.1% 21.3% 12.5% 16.0% 3.6% 15.4% 12.5%(*) 0: BASIS OF 1993 DOLLAR, ADJUSTED ACCOUNTS
(**) Operational self-sufficiency - OperatingIncome/Operating Expenses
(***) Financial self-sufficiency - Operating Income/Total Adjusted Cost
- ACEP: Agence de Credit pour l'Enterprise Privee (ACEP) of Senegal,
- ADOPEM: La Asociacion Dominicana para el Desarrollo de la Mujer (ADOPEM) of the Dominican Republic,
- BancoSol: Banco Solidario S.A. (BancoSol) of Bolivia,
- BKD: Badan Kredit Desa (BKD) of Indonesia,
- BRI: Unit Desa System of the Bank Rakyat Indonesia (BRI),
- BRK: Bankin Raya Karkara of CARE (BRK) of Niger,
- CorpoSol: Corporacion de Accion Solidaria (CorpoSol, formerly Actuar/Bogota) of Colombia,
- FINCA: Fundacion Integral Campesina (FINCA) of Costa Rica,
- Grameen: Grameen Bank of Bangladesh,
- K-REP: Kenya Rural Enterprise Programme (K-REP),
- LPDs: Lembaga Perkreditan Desas (LPDs) of Indonesia.
- Source:
- "Maximizing the Outreach of Microenterprise Finance: An Analysis of Successful Microfinance Programs" (PN-ABS-519) by Robert Peck Christen, Elisabeth Rhyne, Robert C. Vogel, and Cressida McKean. USAID Program and Operations Assessment Report No. 10.
Hari Srinivas - hsrinivas@gdrc.org
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