Standard Chartered Bank (SCB), a UK-based financial services company, recently notified MicroCapital that it has disbursed a total local-currency equivalent of USD 5.7 million to ASA Philippines Foundation (ASA) and Mitra Bisnis Keluarga Ventura (MBK) of Indonesia. ASA, a Manila-based nonprofit organization that provides loans, savings and insurance products, received PHP 80 million (USD 1.8 million). MBK, an Indonesian microfinance institution, received IDR 40 billion (USD 3.9 million). The money will be used for on-lending to microfinance clients.
As of March 2013, ASA reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 57 million, a gross loan portfolio of USD 55 million, 601,000 active borrowers, deposits of USD 32 million from 601,000 depositors, return on assets (ROA) of 5.31 percent and return on equity (ROE) of 29.28 percent. ASA has been associated with SCB since March 2010.
As of the same date, MBK reported to MIX total assets of USD 32.8 million, a gross loan portfolio of USD 28.7 million, 342,000 active borrowers, ROA of 1.58 percent and ROE of 10.41 percent. MBK does not accept deposits and is a new client of SCB.
In 2012, SCB reported total assets of USD 637 billion and return on equity of 12.8 percent.
By Jennifer Young, Research Associate
About ASA Philippines Foundation
ASA Philippines Foundation (ASA) is a non-profit organization that was established in 2004 and focuses on microfinance. ASA provides loans, savings and insurance products in addition to business development training and academic scholarships for clients and their children in the Philippines. As of March 2013, ASA reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 57 million, a gross loan portfolio of USD 55 million, 601,000 active borrowers, deposits of USD 32 million from 601,000 depositors, return on assets (ROA) of 5.31 percent and return on equity (ROE) of 29.28 percent.
About Mitra Bisnis Keluarga Ventura (MBK)
Mitra Bisnis Keluarga Ventura (MBK) is an Indonesian microfinance institution (MFI). It was founded in 2003 and is a non-bank financial institution. As of March 2013, MBK reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 32.8 million, a gross loan portfolio of USD 28.7 million, 342,000 active borrowers, return on assets (ROA) of 1.58 percent and return on equity (ROE) of 10.41 percent. MBK does not accept deposits.
About Standard Chartered Bank
Founded in 1969, Standard Chartered Bank is a financial services company based in the United Kingdom. For the year 2012, SCB reported total assets of USD 637 billion and return on equity of 12.8 percent. It has also invested a total of USD 1 billion in various microfinance institutions in Asia and Africa over an unspecified period.
Sources and Additional Resources
Information provided to MicroCapital by Standard Chartered Bank.
MicroCapital Story, July 4, 2013, “MICROCAPITAL BRIEF: Standard Chartered Bank (SCB) Loans $5.7m to Bank Andara to Support Microfinance Institutions (MFIs) in Indonesia,” https://www.microcapital.org/microcapital-brief-standard-chartered-bank-scb-loans-5-7m-to-bank-andara-to-support-microfinance-institutions-mfis-in-indonesia/
MicroCapital Story, March 13, 2013, “MICROCAPITAL BRIEF: Asian Development Bank, Standard Chartered Bank Commit $150m to Microfinance in Asia,” https://www.microcapital.org/microcapital-brief-asian-development-bank-standard-chartered-bank-commit-150m-to-microfinance-in-asia/
MicroCapital Story, February 9, 2012, “MICROCAPITAL BRIEF: Microfinance Credit Bureau, MiDAS, Launched by Microfinance Institutions in Philippines,” https://www.microcapital.org/microcapital-brief-microfinance-credit-bureau-midas-launched-by-microfinance-institutions-in-philippines/
MicroCapital Story, March 8, 2010, “MICROCAPITAL BRIEF: Standard Chartered, an International Commercial Bank, Provides $1.6m Loan to Mitra Bisnis Keluarga Ventura (MBK), a Microfinance Institution (MFI) Located in Indonesia,” https://www.microcapital.org/microcapital-brief-standard-chartered-an-international-commercial-bank-provides-16m-loan-to-mitra-bisnis-keluarga-ventura-mbk-a-microfinance-institution-mfi-located-in-indonesia/
MicroCapital Universe Profile: ASA Philippines Foundation,
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=ASA+Philippines+Foundation
MicroCapital Universe Profile: Mitra Bisnis Keluarga Ventura,
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Mitra+Bisnis+Keluarga+Ventura+%28MBK%29
MicroCapital Universe Profile: Standard Chartered Bank,
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Standard+Chartered+PLC
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