Symbiotics, a Switzerland-based investment company that focuses on emerging markets, recently informed MicroCapital that it completed the following bond transactions Bonds worth USD 10 million were sold to unidentified investors to benefit CFPA Microfinance Management, a microfinance institution (MFI) in China that is affiliated with the China Foundation for Poverty Alleviation. Additionally, Symbiotics and the Dutch development bank FMO issued bonds in the amount of USD 6 million to benefit small and medium-sized enterprise (SME) clients of Banco Ficohsa, a commercial bank in Honduras with a focus on SME banking.
Symbiotics facilitates investments and manages funds intended to provide both social and financial returns. As of 2016, Symbiotics’ Asset Management team managed seven microfinance and SME impact funds with USD 450 million in assets, and its Investor Relations team coordinated a dozen impact investing funds and strategies. As of 2016, CFPA serves 100,000 clients and operates in 53 branches across 13 Chinese provinces. In 2014, the US-based nonprofit data reporter MIX Market reported that CFPA has assets of USD 361 million, and a gross loan portfolio of USD 302 million. The organization does not accept deposits. As of September 2015, Banco Ficohsa has total assets of USD 3 billion.
By Meredith Steih, Research Associate
About CFPA Microfinance Management
Established in 1989, the China Foundation for Poverty Alleviation (CFPA) is a non-governmental organization (NGO) in China that began to provide microfinance services in 1996 through a poverty alleviation project funded by the World Bank. As of 2016, CFPA serves 100,000 clients annually and operates in 53 branches across 13 Chinese provinces. As of 2014, the US-based nonprofit data reporter MIX Market reported that CFPA has assets of USD 361 million, and a gross loan portfolio of USD 302 million. The organization does not accept deposits.
About Banco Ficohsa
Banco Ficohsa is a commercial and retail bank founded in 1994 in Honduras under the auspices of Grupo Financiera Ficohsa. As of September 2015, Banco Ficohsa has total assets of USD 3 billion.
About Symbiotics
Founded in 2004, Switzerland-based Symbiotics provides for-profit investment intermediary and business services to investors and practitioners of micro-, small and medium-sized enterprise (MSME) development. Its work is divided its Financial Institutions, Asset Management and Investor Relations teams. As of 2016, its Financial Institutions team had facilitated the provision of USD 2.4 billion in MSME investments via 2,000 deals through its work with 28 funds and other investors and 275 financial institutions in 50 emerging economies; its Asset Management team managed seven microfinance and SME impact funds with USD 450 million in assets; and its Investor Relations team coordinated a dozen impact investing funds and strategies and raised assets of USD 350 million. The company also offers Syminvest, a microfinance investment information platform designed to increase transparency and enhance investment capacity in the industry by monitoring regional markets as well as individual institutions.
Sources and Additional Resources
[1] Information provided to MicroCapital by Symbiotics
MicroCapital Unvierse Profile: CFPA Microfinance Management
MicroCapital Unvierse Profile: Banco Ficohsa
MicroCapital Universe Profile: Symbiotics
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