Mikrofin Banja Luka, a microfinance institution (MFI) based in Bosnia and Herzegovina with total assets of USD 169 million as of 2008, has reported to MicroCapital that on July 8 it purchased 99 percent of IEFK Banja AD Banja, a bank based in Southeastern Europe which targets economic development. The purchase took place at an undisclosed price [1]. There is no financial information available in English on EIFK Banja AD Banja.
By Julia Korn, Research Associate
About Mikrofin Banja Luka:
Mikrofin Banja Luka, established in 1999, is a microfinance institution (MFI) based in Bosnia and Herzegovina. It aims to “provide appropriate financial services to economically-active, low-income people that can make a profit and make it possible for them to become economically independent.” As of January 1, 2007, former microcredit organization Benefit Istocno Novo Sarajevo became Mikrofin Banja Luka. As of 2008, Mikrofin Banja Luka had a gross loan portfolio of USD 162 million, 56,000 active borrowers, an average loan balance per borrower of USD 2,900 and total assets of USD 169 million.
About IEFK Banka AD Banja:
IEFK Banka AD Banja established in June of 2007, is a bank in Southeastern Europe. The bank is interested in the “economic development of Southeast Europe, the growing prosperity of the local population, and also the development of economic cooperation between Russian companies with companies from the region of Southeast Europe.” There is no financial information available in English on the bank.
Sources and Additional Resources:
[1] Reported to MicroCapital by Microfin Banja Luka
MicroCapital Universe. Mikrofin Banja Luka. https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Mik…
MicroCapital Universe. IEFK Banka AD Banja. https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=IEF…
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
Similar Posts:
- MICROCAPITAL BRIEF: Paywatch, Visa to Expand Early Access to Wages, Payment Services in Asia
- MICROCAPITAL BRIEF: OnePuhunan Borrows $10m from MicroVest to Boost Microfinance for Women in the Philippines
- MICROCAPITAL BRIEF: CEB, EU Expand Roma Housing Microfinance, Financial Inclusion Program to Bulgaria
- MICROFINANCE EVENT: FinovateEurope; February 27-28, 2024; London, UK
- MICROCAPITAL BRIEF: QR Codes to Facilitate Retail Payments Across Cambodia-Laos Border
