Bank Sri Partha, a local commercial bank based in Bali, was officially transformed into Bank Andara, an Indonesian microfinance wholesale bank, after raising USD 5 million in capital from social investors. Bank Andara will operate as a “bank of banks,” with a focus on assisting microfinance institutions such as cooperatives, rural banks, and rural credit agencies.
Search Results for: triodos
MICROCAPITAL STORY: Triodos Bank in The Netherlands Announces Launch of the Triodos Microfinance Fund with EUR 22m in its First Close
Triodos Bank based in The Netherlands announced the launch of the Triodos Microfinance Fund, a new fund that would aim to increase access to financial services for the working poor in developing countries. According to a press release on the bank’s website, the fund was launched with a total investment of EUR 22 million in its first close. Investors include the Netherlands-based insurance company Achmea, the largest fund manager for charities in the UK CCLA Investment Management Ltd. and the UK-based independent grant-making foundation The Waterloo Foundation. Triodos will meet the need for new capital from its existing microfinance partners as well as new partners experiencing strong growth in demand for financial services from low-income population. According to the press release, Triodos is planning a launch to individual investors shortly. The fund is open for institutional investors across Europe. Triodos bank expects the new microfinance fund to grow to EUR 100 million by the end of 2009 and EUR 200 million by 2011.
MICROCAPITAL STORY: Kenya’s K-Rep Bank Records Loss in Profits, Receives New Capital from IFC, African Development Bank, Shorecap International, Triodos, FMO, K-Rep Group
K-Rep Bank CEO Kimanthi Mutua attributed a recorded loss in profit totalling Sh 209 million (USD 2.6 million) to post-election violence and massive investment in the bank’s information and communication technology (ICT) infrastructure. The Daily Nation reported that Kenya’s K-Rep Bank reported a loss in profit according to an unaudited financial report ending September 30, 2008. The majority of K-Rep clients are low-income entrepreneurs located in neighbourhoods that were badly affected by the post-election violence. Shareholders have injected an additional Sh 1 billion (USD 12.7 million), which will be used to diversify and create new products to increase the bank’s market share and further develop ICT infrastructure, such as Temenos 24. In September 2007 K-Rep Bank reported profits of Sh146 million (USD 1.86 million).
MICROCAPITAL STORY: Australia’s Christian Super to Invest in Triodos Bank and JPMorgan Microfinance
Christian Super, an Australian Christian-based superannuation (pension) fund, has announced that it will invest an undisclosed amount in two separate microfinance funds run by JP Morgan and Triodos Investment Management. The fund, worth AUS 450 million (US 304 million) is reportedly interested in investing in JP Morgan’s Microinvest II Fund and Triodos Investment Management’s Triodos-Doen, Hivos-Triodos Fund, and Triodos Fair Share Fund. Christian Super CEO Peter Murphy spoke to Australia’s Financial Standard saying that these investments present an excellent opportunity for the super fund as it will provide a good risk diversification tool. He also said that Christian Super has been interested in investing in microfinance for 12 months but that the microfinance market was lacking the sophistication level required for super funds.
MICROCAPITAL STORY: Akiba Commercial Bank of Tanzania to Receive a Total of $5.2m in Capital from Accion Investments in Microfinance, the Hivos-Triodos Fund Foundation, Incofin, Inter-Consult, the Netherlands Development Finance Company, the Parastatal Pension Fund, the Triodos-Doen Foundation, and 70 Private Tanzanian Individuals
Based in Dar Es Salaam, Tanzania, Akiba Commercial Bank (ACB) will receive a total of USD 5.2 million in a capitalization program which includes investments from ACCION Investments in Microfinance (ACCION Investments), the Hivos-Triodos Fund Foundation (HTF), Incofin, Inter-Consult, the Netherlands Development Finance Company (FMO), the Parastatal Pension Fund (PPF), the Triodos-Doen Foundation (TDF), and nearly 70 private Tanzanian individuals. The capitalization effort is coupled with a contract between ACB and ACCION International (ACCION) in which the latter of the two will provide short-term technical assistance and a senior management team.
MICROCAPITAL STORY: Whole Planet Foundation and Silverton Foundation Team with Triodos Bank to Loan $1m to Timorese Microfinance Institution (MFI) Moris Rasik for Increased Micro-lending
Austin-based Whole Planet Foundation and Silverton Foundation recently announced a collaborative commitment of USD 600,000 to microfinance institution (MFI) Moris Rasik of Timor-Leste for rural micro-lending projects. The Democratic Republic of Timor-Leste (East Timor) is the poorest country in Asia. The funding for Moris Rasik will be augmented by an additional USD 400,000 from Triodos Bank of the Netherlands.
MICROCAPITAL STORY: Triodos-Doen and the Hivos-Triodos Fund Invests $1.3M in HUMO Micro Lending Fund, Alter Modus Montenegro and Kazakhstan Microcredit Organization Bereke
The Consultative Group to Assist the Poor (CGAP) recently reported the Triodos-Doen Foundation and Hivos-Triodos Fund of the Netherlands invested USD 1.3 million in three Eastern European and Central Asian (EAC) microfinance institutions. Triodos-Doen invested loans of USD 251,000 in Micro Lending Fund HUMO of Tajikstan and USD 737,000 in Alter Modus in Montenegro. Hivos-Triodos invested USD 301,000 in loans to Kazakhstan Microcredit Organization Bereke.
MICROCAPITAL STORY: Triodos-Doen Foundation, Triodos Fair Share Fund and Hivos-Triodos Invest a Total of $7.5M in Latin American Microfinance Institutions: Organización de Desarollo Empresarial Feminino (ODEF OPDF), EPDYME Edyficar, Fondo Financiero Privado para el Fomento a Iniciativas Economicas (FIE FIE) and FIE Gran Poder S.A.
The Consultative Group to Assist the Poor (CGAP) recently reported Triodos-Doen Foundation, Triodos Fair Share Fund and Hivos-Triodos Fund of the Netherlands invested USD 7.5 million in four Latin American microfinance institutions. Organización de Desarollo Empresarial Feminino (ODEF OPDF) of Honduras received a loan investment of USD 2 million divided between the Triodos Fair Share Fund and the Hivos-Triodos fund. The Triodos Fair Share Fund invested USD 2.5 million each in loans to EPDYME Edyficar of Peru and and Fondo Financiero Privado para el Fomento a Iniciativas Economicas (FIE FIE) of Bolivia. FIE Gran Poder S.A. based in Buenos Aires, Argentina was granted a loan of USD 528,000 by the Triodos-Doen Foundation.
MICROCAPITAL STORY: Microfinance Institution Uganda Financial Trust Limited Recently Receives Investments Totaling USD 1.18 Million from Triodos-Doen and Hivos-Triodos Fund
Consultative Group to Assist the Poor (CGAP) recently reported the Uganda Financial Trust Ltd. (UFT) received two loan investments of USD 590,000 each on January 1, 2008 from Triodos-Doen, a partnership between Triodos Bank of Holland and the Doen Foundation, and Hivos-Triodos Fund, a Triodos Bank partnership with the Humanist Institute for Cooperation with Developing Countries (Hivos).
MICROCAPITAL STORY: Triodos-Doen Invests $1m in Cambodian Entrepreneur Building (CEB) Microfinance Institution
Consultative Group to Assist the Poor (CGAP) reported Triodos-Doen, a partnership between Triodos Bank of the Netherlands and the Doen Foundation, invested USD 1 million in loans in Cambodian Entrepreneur Building (CEB) microfinance institution on December 12, 2007. Triodos-Doen has been a shareholder of CEB since 2006 when they initially invested USD 500,000 in equity followed by a USD 3 million loan.
MICROCAPITAL FEATURE: Marilou van Golstein Brouwers, Managing Director of Triodos Investment Management B.V., Talks to MicroCapital
“I really enjoy my job still after fifteen years,” says Marilou van Golstein Brouwers, the head of the Triodos division that runs its microfinance investments. She has been with the company since they began investing in microfinance, which was at first tried as means to promote sustainable development. “You have to tackle the divide between rich and poor if you are serious about sustainability,” she says.
MICROCAPITAL STORY: Triodos Investment Management B.V. to Launch New Private Investor Microfinance Fund in the First Quarter of 2008
In an exclusive interview with MicroCapital, Marilou van Golstein Brouwers, Managing Director of Triodos Investment Management B.V., revealed that the firm will be launching a new private investor microfinance fund for the Belgian and Spanish markets in the first quarter of 2008.
WHO’S WHO IN MICROFINANCE: Triodos-Doen Foundation
In 1994, Triodos Bank, a private bank of the Netherlands, and the Doen Foundation, a Dutch organization, jointly founded the Triodos-Doen Foundation, a microfinance investment vehicle. The Triodos-Doen Foundation is managed by Triodos Investment Management as well as a Supervisory Board appointed by the Doen Foundation.
WHO’S WHO IN MICROFINANCE: Hivos-Triodos Fund Foundation
Founded in 1994, the Hivos-Triodos Fund Foundation, a microfinance investment vehicle, was created out of a joint partnership between Triodos Bank, a private bank of the Netherlands investing in social investment, and the Humanist Institute for Development Cooperation (Hivos), a non-government organization (NGO) also based in the Netherlands. The Hivos-Triodos Fund Foundation is managed externally by Triodos Investment Management, a fund management division with Triodos Bank, and internally by a Supervisory Board that is appointed by Hivos.
WHO’S WHO IN MICROFINANCE: Triodos Fair Share Fund
The Triodos Fair Share Fund, a microfinance investment vehicle, was founded in 2002 by Triodos Bank, a private Dutch bank focused on social investment. The fund is unique among Triodos Bank’s three investment vehicles devoted to microfinance—the others being the Triodos Doen Foundation and Hivos-Triodos Fund Foundation—in that it is the only microfinance-based fund that is entirely managed by the bank.
WHO’S WHO IN MICROFINANCE: The Netherlands’ Triodos Bank and Triodos Investment Management
In 1971, the Triodos Foundation in the Netherlands began investment operations that would become Triodos Bank. The Dutch bank did not come into official existence until 1980, when Triodos Bank was founded with EUR 540,000 in share capital, USD 735,993 at today’s exchange rate. Since then, the bank has provided private banking services as well as created various investment funds, financing social development worldwide.
MICROCAPITAL STORY: Triodos-Doen Foundation, Hivos-Triodos Fund Foundation, and Triodos Fair Share Fund Loan USD 1.86 Million to Ugandan Microfinance Ltd. (UML)
Three funds of the Dutch-based Triodos Bank, Triodos-Doen, Hivos-Triodos, and Triodos Fair Share, have loaned a combined amount of USD 1.86 million to Ugandan Microfinance Limited (UML), an African microfinance institution (MFI). Each Triodos fund provided an equal portion of the loan investment, USD 610,000, on June 29, 2007.
MICROCAPITAL STORY: Dutch Fund Triodos-Doen Makes a USD 662,175 Loan to Opportunity International – Sinapi Aba Savings and Loans Ltd. of Ghana
This story comes to us here at MicroCapital.org courtesy of the May 2007 CGAP-MIX Capital Markets Update Newsletter. The Dutch fund Triodos-Doen made a USD 662,175 loan to the microfinance institution (MFI) Sinapi Aba Savings and Loan Ltd, which is under the umbrella organization of Opportunity International. Sinapi Aba reported to MIX market, the microfinance information clearinghouse, at the end of 2006 as having a gross loan portfolio of USD 13.6 million and USD 19.3 million in total assets. Its capital to asset ratio is 32.59% and its debt to equity ratio is 206.81%.