Standard Chartered Indonesia, a branch of the London-based bank Standard Chartered PLC, has announced that it will loan IDR 30 billion (USD 3.3 million) to Bank Andara, an Indonesian wholesale lender to microfinance institutions (MFIs), to expand its services to MFIs in Indonesia [1]. The loan is secured by cash deposits and a charge on the receivables of Bank Andara. Bank Andara provides loans and other services such as Andara Link, which provides “mobile online technology” to MFIs and their clients.
In 2010, Bank Andara’s loan portfolio balance was IDR 12.6 billion (USD 1.4 million). Its shareholders include MercyCorps, International Finance Corporation (IFC), the Hivos-Triodos Fund, Cordaid, KfW Bankengruppe and Mr I Wayan Gatha. As of 2011, it works with approximately 420 MFIs throughout Indonesia.
By Nisha Koul, Research Associate
About Bank Andara: Founded in 2008, Bank Andara provides loans to microfinance institutions (MFIs) in Indonesia. Its shareholders include MercyCorps, International Finance Corporation (IFC), the Hivos-Triodos Fund, Cordaid, KfW Bankengruppe and Mr I Wayan Gatha. Its mission is to “to catalyze large-scale outreach to millions of Indonesians lacking access to the financial sector by providing innovative financial products and services to and through microfinance institutions; and to maximize the value of its shareholders’ investments, while creating a long-term, profitable financial institution.” In 2010, Bank Andara’s loan portfolio balance was IDR 12.6 billion (USD 1.4 million). As of 2011, it works with approximately 420 MFIs throughout Indonesia.
Sources and Additional Resources:
[1] Information submitted by Standard Chartered Bank to MicroCapital, October 2011
MicroCapital.org story, June 30, 2011, “MICROCAPITAL BRIEF: Mobile Finance Platform Fundamo, Bank Andara Aim to Extend Access to Financial Services to 40m in Indonesia,” https://www.microcapital.org/microcapital-brief-mobile-finance-platform-fundamo-bank-andara-aim-to-extend-access-to-financial-services-to-40m-in-indonesia/
MicroCapital.org story, April 1, 2011, “MICROCAPITAL BRIEF: Standard Chartered Bank (Pakistan) Closes $6.9m Loan to Tameer Micro Finance Bank Limited (TMFB) With Support of State Bank of Pakistan’s Micro Finance Credit Guarantee Facility,” https://www.microcapital.org/microcapital-brief-standard-chartered-bank-pakistan-closes-6-9m-loan-to-tameer-micro-finance-bank-limited-tmfb-with-support-of-state-bank-of-pakistans-micro-finance-credit-guarantee-facility/
MicroCapital.org story, November 15, 2010, “MICROCAPITAL BRIEF: Standard Chartered Kenya Loans Small and Micro Enterprise Programme (SMEP) $3.75m to Assist Microfinance Clients,” https://www.microcapital.org/microcapital-brief-standard-chartered-kenya-loans-small-and-micro-enterprise-programme-smep-3-75m-to-assist-microfinance-clients/
MicroCapital Universe Profile: Standard Chartered PLC, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Standard+Chartered+PLC
MicroCapital Universe Profile: Bank Andara, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bank+Andara
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
Similar Posts:
- MICROCAPITAL BRIEF: Light Microfinance, IppoPay Partner to Offer Digital Lending to MSMEs in Rural India
- MICROFINANCE EVENT: Grow to Zero Conference; June 26-27, 2023; London, UK
- MICROCAPITAL BRIEF: Stanbic Bank Uganda, IFAD Seek to Reduce Costs of Remittances via FlexiPay E-wallet, Encourage Adoption via SACCOs
- MICROCAPITAL BRIEF: G20, SME Finance Forum Showcase Digital Finance Solutions for MSMEs Via Online Database, Seek Submissions
- MICROCAPITAL BRIEF: Abler Nordic Sells Equity Stake in Microfinance Institution Baobab Senegal, Retains Holding in Parent Company
