Bandhan, an Indian microfinance institution, recently announced it is seeking INR 1 billion (USD 21 million) in investment capital from private investors.
Category: Deals
MICROCAPITAL BRIEF: The International Finance Corporation (IFC) Provides Microfinance Bank Inecobank Support to Expand Access to Trade Finance in Armenia
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, recently announced that it will provide Inecobank, an Armenian microfinance bank founded in 1996 with total assets of USD 129 million, support expanding access to trade finance for small and medium-sized enterprises in Armenia.
MICROCAPITAL BRIEF: Microfinance International Corporation (MFIC) and Smart Communications Inc. (SMART) Team Up to Expand Remittance Services in the Philippines
The US-based financial services technology provider, Microfinance International Corporation (MFIC), has signed an agreement with Philippine wireless service provider, Smart Communications Inc. (SMART), to offer delivery of remittances to the Philippines.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) and IFC African, Latin American and Caribbean Fund Make $75m Equity Investment in Insurance Sector Activities of Caribbean-based Guardian Holdings Limited
The International Finance Corporation (IFC), a member of the World Bank Group that provides investment and advisory services to the private sector in developing countries, recently announced a USD 75 million equity investment in Guardian Holdings Limited (GHL), a financial services group based in Trinidad & Tobago that operates throughout the Caribbean.
MICROCAPITAL BRIEF: The International Finance Corporation (IFC) and the Australian Government Launch the Pacific Microfinance Initiative
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has announced the launch of the Pacific Microfinance Initiative to improve access to basic financial services, particularly for women, rural households, and enterprises in Papua New Guinea, Timor-Leste, and the Pacific Islands.
MICROCAPITAL BRIEF: The International Finance Corporation (IFC) Supports Microfinance Institution (MFI) FinTerra in Mexico With Technical Assistance and a $1.18m Loan
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, recently announced that it will provide FinTerra, a Mexican microfinance institution (MFI) founded in 2004, targeted technical assistance aimed at increasing its ability to serve lower- and middle- income borrowers, as well as MXN 15 million (USD 1.18 million) in the form of a credit line.
MICROCAPITAL BRIEF: Oikocredit Invests $5m in Alalay Sa Kaunlaran Inc of the Philippines, Capital Aid Fund for Employment of the Poor (CEP) of Vietnam, The TYM Fund of Vietnam and Thaneakea Phum (Cambodia) Limited
Oikocredit, a Dutch cooperative investment fund, recently reported to MicroCapital the details of investments in four microfinance institutions (MFIs) in East Asia: Alalay Sa Kaunlaran Inc (ASKI) of the Philippines, Capital Aid Fund for Employment of the Poor (CEP) of Vietnam, The TYM Fund of Vietnam and Thaneakea Phum (Cambodia) Limited.
MICROCAPITAL BRIEF: Oikocredit Invests Equivalent of $3.95m in IMON International of Tajikistan, The First Microcredit Company of Kyrgyzstan and Credit Union ABN of Kyrgyzstan
Oikocredit, a Dutch cooperative investment fund, recently reported to MicroCapital the details of recent investments in three microfinance institutions (MFIs) in Central Asia: IMON International of Tajikistan, The First Microcredit Company of Kyrgyzstan and Credit Union ABN, also of Kyrgyzstan.
MICROCAPITAL BRIEF: Standard Chartered Arranges $10m Commercial Paper Issuance for SKS Microfinance of India
According to a press release submitted to MicroCapital, Standard Chartered, an international bank headquartered in London, has arranged a USD 10 million, 1-year paper issuance for SKS Microfinance, an Indian microlender, which was subscribed through an unnamed mutual fund.
MICROCAPITAL BRIEF: responsAbility Microfinanz-Fonds and responsAbility Global Microfinance Fund Invest $3.8m in Microfinance Institutions Fondo de Desarrollo Comunal of Bolivia (Fondeco), Fundación para el Desarrollo Microempresarial of Ecuador (D-Miro) and Consejo de Asistencia al Microemprendedor (CAME) of Mexico
responsAbility Microfinanz-Fonds and responsAbility Global Microfinance Fund (rAGMF), microfinance investment vehicles managed by responsAbility Social Investments AG of Switzerland, recently reported to MicroCapital the details of five debt investments made during the month of July 2010, totaling the equivalent of USD 3.77 million.
MICROCAPITAL BRIEF: SKS Microfinance Initial Public Offering Opens on Bombay Stock Exchange and National Stock Exchange of India, Shares Up After First Day of Trading
SKS Microfinance’s recently issued public offering listed for public trade on August 16, 2010 on the Bombay Stock Exchange and the National Stock Exchange of India.
MICROCAPITAL BRIEF: Unitus CEO Joseph Grenny Answers Questions Regarding Change in Strategy, Use of SKS Microfinance Initial Public Offering Proceeds
Mr Joseph Grenny, CEO of Unitus Inc., a US-based international nonprofit organization, recently responded to concerns regarding its announcement that it will be discontinuing its microcredit operations and regarding the use of its proceeds from the initial public offering of SKS Microfinance.
MICROCAPITAL BRIEF: Oikocredit Invests $3.6m in Indian Microfinance Institutions (MFIs) Grameen Koota, Share MACTS and Hope Foundation
Oikocredit, a microfinance investment fund in the Netherlands with total assets of USD 665 million, recently loaned USD 3.65 million to three Indian microfinance institution (MFIs). Grameen Koota, a division of Grameen Financial Services Private Limited founded in 1999, received INR 115 million (USD 2.02 million). Share MACTS (Mutually Aided Co-operative Thrift Society), an Indian credit union founded in 1995 that reported March 2010 total assets of USD 2.05 million, received INR 30 million (USD 527,000). Hope Foundation, an Indian MFI founded in 2005, received INR 25 million (USD 439,000). Current financial information for Hope Foundation is not available.
MICROCAPITAL BRIEF: Samsung Group Doubles 2010 Microcredit Loan Commitment to Korean Microfinance Institution (MFI) Smile Microfinance Bank from $26m to $51m
Korean conglomerate, Samsung Group, has announced that it will double its 2010 target microcredit loan commitment of KRW 30 billion (USD 25.7 million) to KRW 60 billion (USD 51.4 million) to the Korean, government-led microfinance institution (MFI) Smile Microfinance Bank (SMB, also known as Miso Microcredit Foundation).
MICROCAPITAL BRIEF: Armenian CJSC Converse Bank Receives Loan of $10m from Microfinance Investment Vehicle (MIV) European Fund for Southeast Europe
In July 2010, CJSC Converse Bank, a private bank based in Armenia with approximately 42,000 customers as of December 2009, borrowed USD 10 million from the European Fund for Southeast Europe (EFSE), a microfinance investment vehicle (MIV) set up in 2005 by the German development bank KfW.
MICROCAPITAL BRIEF: Kenyan Equity Bank Receives $8m in Loans from Microfinance Intermediary BlueOrchard Finance
In July 2010, BlueOrchard Finance, a Swiss commercial microfinance intermediary which manages 6 microfinance investment vehicles (MIV), invested USD 8 million in Equity Bank, a microfinance bank based in Nairobi, Kenya, that was founded in 1984.
MICROCAPITAL BRIEF: SKS Microfinance Initial Public Offering to List on August 16, 2010 on Bombay Stock Exchange and National Stock Exchange of India
SKS Microfinance’s recently issued public offering will list for public trade on August 16, 2010 on the Bombay Stock Exchange and the National Stock Exchange of India at an expected list price of INR 1,200 (USD 26) per share.
MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund and responsAbility Microfinanz-Fonds Invest $1.4m in Microfinance Institutions OXUS Tajikistan and Enterprise Bank Inc of the Philippines
responsAbility Global Microfinance Fund (rAGMF) and responsAbility Microfinanz-Fonds, microfinance investment vehicles managed by responsAbility Social Investments AG, recently reported to MicroCapital the details of four debt investments made during the month of July 2010, totaling the equivalent of USD 1.4 million, in microfinance institutions OXUS Tajikistan and the Enterprise Bank, Inc of the Philippines.