This story comes to us here at MicroCapital.org courtesy of the May 2007 CGAP-MIX Capital Markets Update Newsletter. Mongolian XacBank received two loans from the Dutch Funds Tridos Doen and Tridos Fair Share, totaling USD 1.5 mn. According to MIX Market, the microfinance information clearinghouse, XacBank was established in 1998 to provide the following services: loans, voluntary savings, leasing, fund transfers, training and consultation. At the end of 2006, XacBank reported a gross loan portfolio of USD 50.2 mn, USD 76.3 mn in total assets. During the same time period, its capital to asset ratio was 12.22% and a 718.14% ratio of debt to equity. It received an A from the microfinance rating agency, Planet Rating.
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