Switzerland’s responsAbility Social Investments AG (responsAbility) recently reported to MicroCapital that it has made loans totaling the equivalent of USD 3.6 million to several Cambodian microfinance institutions (MFIs). Amret Company Private Limited (Amret) received USD 1 million from the responsAbility Mikrofinanz-Fonds (rAMF), a microfinance investment vehicle (MIV) managed by responsAbility. Angkor Mikroheranhvatho Kampuchea (AMK) received the local-currency equivalent of USD 804,747 from rAMF. Prasac received USD 1.25 million from responsAbility Global Microfinance Fund (rAGMF), an MIV managed by responsAbility, and Hattha Kaksekar Limited (HKL) received USD 500,000 from rAGMF.
Amret was established in Cambodia by the French NGO Groupe de Recherche et D’Echange Technologiques (GRET) and became a private limited company in 2000, receiving its license to operate as an MFI in 2001. In 2010, Amret reported to the US-based nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 87.8 million, a gross loan portfolio of USD 67 million, approximately 223,000 borrowers, return on assets (ROA) of 5.91 percent and return on equity (ROE) of 25 percent. As of 2010, AMK has gross loan portfolio of USD 31.7 million and USD 1.4 million in deposits. Prasac reported a gross loan portfolio of USD 105.6 million, total assets of USD 112.9 million and 112,872 active borrowers as of 2010. As of June 30, 2011, HKL reported to MIX a gross loan portfolio of USD 56.4 million and approximately 53,500 borrowers. As of 2010, HKL reported return on assets (ROA) of 4.43 percent and return on equity (ROE) of 21.2 percent.
By Natalie Baer, Research Associate
About Amret Company Private Limited (Amret): Amret Company Private Limited (Amret), formerly known as Ennetean Moulethan Tchonnebath (which means “credit in rural area” in English) was established in Cambodia in 1991 as a project of French NGO Groupe de Recherche et D’Echange Technologiques (GRET). It became a private limited company in 2000 and received its license to operate as a microfinance institution (MFI) in 2001. In 2010, Amret reported to the US nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 87.8 million, a gross loan portfolio of USD 67 million, approximately 223,000 borrowers, return on assets (ROA) of 5.91 percent and return on equity (ROE) of 25 percent.
About Angkor Mikroheranhvatho Kampuchea (AMK): Angkor Mikroheranhvatho Kampuchea (AMK) is a microfinance institution (MFI) located in Cambodia. It was originally founded in 1999 by Concern Worldwide, a charitable organization located in Ireland. It became an independent company in 2003 and was licensed as an MFI in 2004. It offers loans and was granted a deposit-taking license in February of 2010. As of 2010, AMK has gross loan portfolio of USD 31.7 million and USD 1.4 million in deposits.
About Prasac: Prasac was originally a credit component of a support program for the agriculture sector in Cambodia funded by the European Union and implemented by the Royal Government of Cambodia. It was officially registered in 2004 with the Ministry of Commerce as a private limited liability company. According to the US-based nonprofit Microfinance Information Exchange (MIX), Prasac reported a gross loan portfolio of each USD 106 million, total assets of USD 113 million and 112,872 active borrowers as of 2010.
About Hattha Kaksekar Limited (HKL): Hattha Kaksekar Limited is a microfinance institution (MFI) based in Phnom Penh, Cambodia. It was founded in 1994 by two charitable organizations, the Organisation Canadienne pour la Solidarité et le Développement (OCSD) and UK-based Oxfam International. It was transformed into a non-governmental organization (NGO) in 1996 and then into a private liability company in 2001. Its financial supporters have included Oikocredit, Norfund, Triple Jump, the French Development Agency (AFD) and Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ). As of June 30, 2011, HKL reported to the US-based nonprofit Microfinance Information Exchange (MIX) a gross loan portfolio of USD 56.4 million and approximately 53,500 borrowers. As of 2010, HKL reported return on assets (ROA) of 4.43 percent and return on equity (ROE) of 21.2 percent.
About responsAbility: Founded in 2003, responsAbility Social Investments AG is a Swiss investment company whose products aim to enable investors to earn a financial return while assisting people in emerging markets to access information and markets in sectors such as microfinance, small and medium-sized enterprise (SME) financing, fair trade and independent media. As of September 2011, responsAbility reported total assets under management of approximately USD 1 billion. responsAbility is backed by Swiss financial institutions and a social venture capital company as founders and shareholders including Baumann & Cie, Banquiers, Credit Suisse, Raiffeisen Schweiz, Swiss Re, Bank Vontobel AG as well as George Avenue.
About responsAbility Global Microfinance Fund (rAGMF): The responsAbility Global Microfinance Fund (rAGMF) is a microfinance investment vehicle (MIV) managed by responsAbility Social Investments that invests in microfinance institutions (MFIs) and other MIVs, mostly through short- to medium-term debt securities. rAGMF also invests up to 10 percent of its assets in the equity of MFIs. In April 2011, its annual label was renewed by the Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector. rAGMF reported to the US-based nonprofit Microfinance Information Exchange (MIX) fund assets of USD 532 million in 2011.
About responsAbility Mikrofinanz-Fonds (rAMF): Mikrofinanz-Fonds is a microfinance investment vehicle (MIV) that was launched in 2007, is managed by responsAbility Social Investments AG of Switzerland and is funded by German financial institutions Bank im Bistum Essen and Stadtsparkasse Dusseldorf. It invests in short- to medium-term income-bearing debt securities of microfinance institutions (MFIs). In April 2011, its annual label was renewed by the Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector. Mikrofinanz-Fonds reported to the US-based nonprofit Microfinance Information Exchange (MIX) fund assets of USD 141 million in 2011.
Sources and Additional Resources:
Data Submitted to MicroCapital by responsAbility, February 2012
MicroCapital.org story, January 18, 2012, “MICROCAPITAL BRIEF: responsAbility Lends $4m to ACLEDA Bank, Hattha Kaksekar Limited (HKL) of Cambodia,” https://www.microcapital.org/microcapital-brief-responsability-lends-4m-to-acleda-bank-hattha-kaksekar-limited-hkl-of-cambodia/
MicroCapital Universe Profile: Amret Company Private Limited (Amret), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=AMRET
MicroCapital Universe Profile: Angkor Mikroheranhvatho Kampuchea (AMK),
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Angkor+Mikroheranhvatho+Kampuchea+%28AMK%29
MicroCapital Universe Profile: Prasac,
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Prasac
MicroCapital Universe Profile: Hattha Kaksekar Limited (HKL), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Hattha+Kaksekar+Limited
MicroCapital Universe Profile: responsAbility Social Investments AG, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility
MicroCapital Universe Profile: responsAbility Global Microfinance Fund (rAGMF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+%28rAGMF%29
MicroCapital Universe Profile: responsAbility Mikrofinanz-Fonds, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Mikrofinanz-Fonds
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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