Submitted by MiFiReport on Wed, 03/10/2010 - 14:08
MUMBAI, March 8 (Reuters) – SKS Microfinance, an Indian firm that makes small loans to poor borrowers, plans to file application papers for an IPO in 3-4 weeks, three sources with knowledge of the deal said. The exact size and structure of the fundraising was not yet determined, with one source putting the figure at [...]
Submitted by MiFiReport on Tue, 03/02/2010 - 19:30
From humble beginnings, microfinance—a system of providing tiny loans and savings accounts to the poor—has grown into a global industry attracting the interest of large multinational banks.
But the commercialization of the industry has sparked a fierce debate. Profit advocates highlight improved access to foreign capital and expertise; traditionalists say microfinance companies are in danger of [...]
Submitted by MiFiReport on Thu, 02/25/2010 - 01:26
Once upon a time, Sumitra used to roam the streets of the Indian city of Ahmedabad, collecting discarded caps which could be recycled and sold back to manufacturers such as Coca-Cola.
She would spend the whole day sifting through the rubbish collecting the caps in return for a few hundred rupees – about $2. Then in 2006, [...]
Submitted by MiFiReport on Thu, 02/25/2010 - 01:22
MEXICO CITY (Dow Jones)–Mexican microfinance bank Banco Compartamos SA (COMPART.MX) plans to grow its profit 20% this year and is looking for acquisitions in other Latin American countries, top executives said Tuesday.
“In Mexico, we think the best way to grow is organically, but outside of Mexico we are open to and looking for opportunities to [...]
Submitted by MiFiReport on Sun, 02/21/2010 - 22:31
Opportunities at the bottom of the pyramid are driving the buzz today. One of the most significant areas in this category in India is Microfinance – both in what it has been able to achieve over the past couple of decades, as well as in its unrealized potential. Besides the scale of business that is [...]
Submitted by MiFiReport on Wed, 02/17/2010 - 15:18
HYDERABAD: India’s booming microfinance segment is under the scanner, with the Reserve Bank of India (RBI) issuing a veiled warning that it could be taken off the priority sector lending list of banks if the industry fails to improve its governance standards.
This was spelt out at a meeting in late January between senior RBI officials, [...]
Submitted by MiFiReport on Wed, 02/10/2010 - 12:14
Hollywood couldn’t have done it better. Late in the afternoon on Jan. 22, an armored car packed with $2 million in cash rolled out of J.P. Morgan Chase headquarters in downtown Miami, headed to the Homestead Air Force Base. Thirty-four bricks of bank notes packed into ordinary office supply boxes were loaded onto a C-17 [...]
Submitted by MiFiReport on Mon, 02/08/2010 - 17:03
CGAP: On January 12, 2010, a catastrophic 7.0 magnitude earthquake struck Haiti, causing immense destruction in the densely populated capital of Port-au-Prince and nearby areas. This natural disaster killed over 200,000 people and uprooted the lives of millions, bringing unspeakable personal losses to the population of an already poor country.
Three weeks after the earthquake, some [...]
Submitted by MiFiReport on Tue, 02/02/2010 - 12:56
TESTIMONY January 27, 2010 DAMIAN VON STAUFFENBERG; CHAIRMAN AND FOUNDER MICRORATE HOUSE FINANCIAL SERVICES
Mr Chairman, Members of the Subcommittee,
MicroRate is the first rating agency dedicated to measuring the performance of microfinance institutions (”MFIs”). MicroRate’s rating teams visit MFIs and “kick their tires”. We have been doing this since 1996 and we have by now rated [...]
Submitted by MiFiReport on Tue, 02/02/2010 - 02:58
Microfinance institutions (MFIs) are emerging from one of their lowest business ebb in the last two years due to the 2008 post-election violence, a severe drought and dried fund taps from donors as a result of the global financial crisis.
According to the industry players, the last two years have been the toughest for their businesses.
“The [...]
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