AgroCapital | MIX Market

Institutional Characteristics

	2004	2005	2006	2007	2008
As of date	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
Currency	USD	USD	USD	USD	USD
Total assets	16,183,587	19,880,083	22,858,544	26,980,428	30,527,002
Offices	10	11	11	13	17
Personnel	93	100	108	146	198

Financing Structure

	2004	2005	2006	2007	2008
As of date	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
Capital/asset ratio	61.92%	51.99%	47.81%	43.49%	40.30%
Debt to equity ratio	0.61	0.92	1.09	1.30	1.48
Deposits to loans	0.00%	0.00%	0.00%	0.00%	0.00%
Deposits to total assets	0.00%	0.00%	0.00%	0.00%	0.00%
Gross loan portfolio to total assets	84.14%	82.16%	78.36%	75.99%	84.74%

Outreach

		2004	2005	2006	2007	2008
As of date		2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
Currency		USD	USD	USD	USD	USD
+ Number of active borrowers		4,826	6,149	6,768	13,661	20,602
+ Products (credit)
Loans to corporations	—	—	—	—	—	606
+ Retail loans	—	—	—	—	—	19,996
Microenterprise	—	—	—	—	—	19,996
+ Relationship
External customers	—	—	—	—	—	19,996
+ Gender
Male	—	—	—	—	—	6,351
Female	—	2,092	2,731	2,964	8,570	13,642
Legal entity	—	—	—	—	—	3
+ Methodology
Individual	—	—	—	—	—	6,643
Village banking s h g	—	—	—	—	—	13,353
+ Location
Urban	—	—	—	—	—	13,569
Rural	—	—	—	—	—	6,427
Percent of women borrowers		43.35%	44.41%	43.79%	62.73%	66.22%
+ Number of outstanding loans		5,111	6,451	7,020	13,661	20,602
+ Location
Urban	—	—	—	—	—	13,569
Rural	—	—	—	—	—	6,427
+ Methodology
Individual	—	—	—	—	—	6,643
Village banking s h g	—	—	—	—	—	13,353
+ Products (credit)
Loans to corporations	—	—	—	—	—	606
+ Retail loans	—	—	—	—	—	19,996
Microenterprise	—	—	—	—	—	19,996
+ Relationship
External customers	—	—	—	—	—	19,996
+ Delinquency
Less than one month	—	4,683	6,012	6,689	13,191	20,291
+ One month or more	—	—	—	—	—	—
From one to three months	—	46	44	53	71	69
+ More than three months	—	—	—	—	—	—
From three to six months	—	44	72	123	62	46
+ More than six months	—	—	—	—	—	—
From six to twelve months	—	44	146	35	125	80
One year or more	—	14	8	111	38	33
Renegotiated loans	—	280	169	9	174	83
+ Gender
Male	—	—	—	—	—	6,351
Female	—	—	—	—	—	13,642
Legal entity	—	—	—	—	—	3
+ Gross loan portfolio		13,617,502	16,333,841	17,911,951	20,503,189	25,868,262
+ Location
Urban	—	—	—	—	—	7,886,725
Rural	—	—	—	—	—	9,139,571
+ Methodology
Individual	—	—	—	—	—	14,702,185
Village banking s h g	—	—	—	—	—	2,324,110
+ Products (credit)
Loans to corporations	—	—	—	—	—	8,841,967
+ Retail loans	—	—	—	—	—	17,026,295
Microenterprise	—	—	—	—	—	17,026,295
+ Relationship
External customers	—	—	—	—	—	17,026,295
+ Delinquency
Less than one month	—	11,903,806	15,027,092	17,027,668	19,845,181	25,203,059
+ One month or more	—	1,714,132	1,306,750	884,283	658,008	—
From one to three months	—	36,045	81,447	218,411	53,707	78,398
+ More than three months	—	—	—	—	—	—
From three to six months	—	65,081	96,938	101,543	41,660	85,824
+ More than six months	—	—	—	—	—	—
From six to twelve months	—	39,049	150,079	36,089	79,761	103,783
One year or more	—	316,394	274,333	475,833	61,374	98,850
Renegotiated loans	—	1,257,564	703,954	52,407	421,505	298,349
+ Gender
Male	—	—	—	—	—	10,409,597
Female	—	—	—	—	—	6,409,346
Legal entity	—	—	—	—	—	207,352
Average loan balance per borrower		2,822	2,656	2,647	1,501	1,256
Average loan balance borrower per borrower / GNI per capita		293.93%	260.43%	238.43%	119.12%	99.65%
Average outstanding balance		2,664	2,532	2,552	1,501	1,256
Average outstanding balance / GNI per capita		277.54%	248.23%	229.87%	119.12%	99.65%
Number of depositors		—	—	—	0	0
Number of deposit accounts		—	—	—	0	0
+ Deposits		0	0	0	0	0
+ Products (deposits)
+ Retail deposits	—	0	0	0	0	—
+ Voluntary deposits	—	0	0	0	0	—
Demand deposits	—	0	0	0	0	—
Time deposits	—	0	0	0	0	—
Compulsory deposits	—	0	0	0	0	—
Average deposit balance per depositor		—	—	—	—	—
Average deposit balance per depositor / GNI per capita		—	—	—	—	—
Average deposit account balance		—	—	—	—	—
Average deposit account balance / GNI per capita		—	—	—	—	—

Overall Financial Performance

	2004	2005	2006	2007	2008
As of date	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
	USD	USD	USD	USD	USD
Return on assets	1.50%	1.80%	3.05%	3.12%	-1.04%
Return on equity	2.41%	3.19%	6.14%	6.85%	-2.50%
Operational self sufficiency	108.84%	110.11%	117.75%	120.13%	94.48%

Revenues

	2004	2005	2006	2007	2008
As of date	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
	USD	USD	USD	USD	USD
Financial revenue/ assets	18.43%	19.59%	20.25%	18.60%	17.89%
Profit margin	8.12%	9.18%	15.07%	16.76%	-5.84%
Yield on gross portfolio (nominal)	21.30%	22.47%	22.40%	22.18%	23.24%
Yield on gross portfolio (real)	16.14%	16.21%	17.36%	12.39%	13.36%

Expenses

	2004	2005	2006	2007	2008
As of date	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
	USD	USD	USD	USD	USD
Total expense/ assets	16.93%	17.79%	17.20%	15.48%	18.93%
Financial expense/ assets	3.05%	3.66%	4.06%	4.55%	4.99%
Provision for loan impairment/ assets	-0.21%	0.62%	1.26%	0.12%	1.07%
Operating expense/ assets	14.09%	13.51%	11.88%	10.81%	12.87%
Personnel expense/ assets	6.83%	6.51%	5.75%	5.54%	6.67%
Administrative expense/ assets	7.26%	7.00%	6.13%	5.27%	6.20%

Efficiency

	2004	2005	2006	2007	2008
As of date	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
	USD	USD	USD	USD	USD
Operating expense/ loan portfolio	17.37%	16.27%	14.83%	14.03%	15.96%
Personnel expense/ loan portfolio	8.42%	7.84%	7.18%	7.19%	8.27%
Average salary/ GNI per capita	13.36	11.93	10.64	8.63	8.85
Cost per borrower	531	444	393	264	216
Cost per loan	498	422	377	261	216

Productivity

	2004	2005	2006	2007	2008
As of date	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
Borrowers per staff member	52	61	63	94	104
Loans per staff member	55	65	65	94	104
Borrowers per loan officer	156	205	100	138	196
Loans per loan officer	165	215	103	138	196
Depositors per staff member	—	—	—	0	0
Deposit accounts per staff member	—	—	—	0	0
Personnel allocation ratio	33.33%	30.00%	62.96%	67.81%	53.03%

Risk and Liquidity

	2004	2005	2006	2007	2008
As of date	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
	USD	USD	USD	USD	USD
Portfolio at risk > 30 days	12.59%	8.00%	4.94%	3.21%	2.57%
Portfolio at risk > 90 days	12.32%	7.50%	3.72%	2.95%	2.27%
Write-off ratio	3.42%	2.33%	2.67%	0.78%	0.52%
Loan loss rate	1.95%	0.33%	2.03%	-0.01%	-0.41%
Risk coverage	65.87%	89.39%	124.57%	173.77%	229.87%
Non-earning liquid assets as a % of total assets	7.21%	10.91%	16.10%	19.98%	11.32%

MIX Market

AgroCapital5Fundación AgroCapital

Institutional Characteristics

Financing Structure

Outreach

Overall Financial Performance

Revenues

Expenses

Efficiency

Productivity

Risk and Liquidity