In June, responsAbility Social Investments AG, a Swiss investment company, made debt investments totaling USD 7.8 million in ProCredit Moldova, a subsidiary of Germany’s ProCredit Group. As of 2011, ProCredit Moldova has assets totaling USD 150 million, USD 117 million in loans outstanding, return on equity of 8.8 percent and USD 43.6 million customer deposits.
Debt investments totaling USD 1.2 million were also made by responsAbility in Noa, a microfinance institution in Albania. Noa, which is owned by Amance Holding NV of the Netherlands, reports to the US-based nonprofit Microfinance Information Exchange (MIX) USD 56.8 million in assets, approximately 15,000 active borrowers, a gross loan portfolio of USD 39.8 million, return on assets of -4.47 percent and return on equity of -28.29 percent as of December 2010.
As of September 2011, responsAbility reported total assets under management of approximately USD 1 billion.
By: Webster Hughes, Research Associate
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 ProCredit Moldova: ProCredit Moldova is a finance company based in Chisinau, Moldova. Founded in 2007, it is part of the ProCredit Group, which is controlled by ProCredit Holding, a German company with assets totaling USD 6.6 billion. As of 2011, ProCredit Moldova has assets totaling USD 150 million, USD 117.3 million in loans outstanding, return on equity of 8.8 percent and USD 43.6 million customer deposits.
About ProCredit Group: ProCredit Holding consists of 21 banks operating in transition economies and developing countries in Eastern Europe, Latin America and Africa. These institutions provide credit and other banking services to small and medium-sized enterprises and lower- and middle-income savers who have previously had limited access to formal financial services. As of December 31, 2010, it reported assets of USD 6.6 billion and a gross loan portfolio of USD 4.8 billion.
About Noa: Noa, formerly known as Opportunity Albania, is a microfinance institution based in Albania that provides loans to rural and urban entrepreneurs. It is owned by Amance Holding NV, a Dutch company, which is backed by two investment funds: Switzerland’s Balkan Fund for Southeast Europe and Creation Investments, which is based in the US. As of December 2010, Noa reports to the Microfinance Information Exchange (MIX) that it holds USD 56.8 million in assets, approximately 15,000 active borrowers, a gross loan portfolio of USD 39.8 million, return on assets of -4.47 percent and return on equity of -28.29 percent.
Sources and Additional Resources:
Data submitted by responsAbility to MicroCapital
MicroCapital.org story, July 16, 2012, “MICROCAPITAL BRIEF: ResponsAbility Reaches Deals Totaling $1.5m with Advans Cameroun, PRIDE of Tanzania”, https://www.microcapital.org/microcapital-brief-responsability-reaches-de…
MicroCapital.org story, July 14, 2012, “MICROCAPITAL BRIEF: ResponsAbility Invests $6.3m in Financiera Crear of Peru, Ecofuturo of Bolivia”, https://www.microcapital.org/v1-microcapital-brief-responsability-invests…
MicroCapital.org story, September 30,2010, “MICROCAPITAL BRIEF: Central and Eastern Europe (CEE) Microfinance Holdings NV Acquires Microfinance Institutions (MFIs) Opportunity Albania, Inicjatywa Mikro of Poland and Forus Bank of Russia”, https://www.microcapital.org/microcapital-brief-central-and-eastern-europ…
ProCredit Bank Moldova Annual Report, http://www.procreditbank.md/files/MOL_ar2011_05-07-12_0.pdf
MicroCapital Universe Profile: responsAbility, http://microcapital.org/microfinanceuniverse/tiki-index.php?page=respons…
MicroCapital Universe Profile: ProCredit Moldova, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Pro…
MicroCapital Universe Profile:Noa, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=NOA
MicroCapital Universe Profile: ProCredit Holding, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Pro…
Browse the MicroCapital Universe and add your entry to the wiki at: http://microcapital.org/microfinanceuniverse/tiki-index.php
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