Peru Market Profile

February 21, 2014 - 11:56am from MicroCapital
Peru-based microlender Financiera Edyficar (Edyficar), an operating subsidiary of Peruvian bank holding company Creditcorp, recently announced that it will acquire a 60.7-percent stake in Mibanco, a Peruvian microfinance institution (MFI) that is a subsidiary of nonprofit holding company Grupo Accion Comunitaria del Peru (ACP). The acquisition, which will cost Edyficar approximately USD 179 million, reportedly is part of Edyficar’s strategy to expand its microloan market share. According ...
February 20, 2014 - 8:38pm from Mundo Microfinanzas
(Mundo Microfinanzas) El ex jefe de supervisores del Perú, Juan José Marthans, afinó su propuesta de lanzar un plan de consolidación patrimonial para las microfinanzas en Perú, tras el resonante anuncio de la compra de MiBanco por parte del Grupo Credicorp, en US$ 179,5 millones. De autorizarse esta operación, la Financiera Edyficar -controlada por Credicorp- y la estructura heredada de
February 18, 2014 - 1:18pm from Microfinance Africa
New Delhi – A Parliamentary panel has rejected the bill on micro-finance institutions (MFIs) and asked the government to bring a fresh legislation before Parliament. The bill had sought to empower the Reserve Bank to regulate them and fix interest rates ceiling on loans to be provided by MFIs. The Parliamentary Standing Committee on Finance headed by senior BJP leader and former finance minister Yashwant Sinha, has observed in its report ...
February 13, 2014 - 5:03am from MicroCapital
ResponsAbility Investments, a Swiss investor in microfinance and other sectors, recently notified MicroCapital that it has disbursed a loan of EUR 15 million (USD 20.4 million) to Enda Inter-Arabe, a Tunisian financial services provider that is also an arm of Senegal-based non-governmental organization Enda Third-World [1]. Further details, such as the terms of the loan, have not been disclosed. As of December 2013, Enda Inter-Arabe reported a gross loan portfolio of USD 106 ...
February 12, 2014 - 12:38am from Microfinance Gateway News & Opinion
"MoneyGram, Vodafone partner for global mobile money transfers"
February 11, 2014 - 3:00pm from Center for Financial Inclusion Blog
> Posted by Jeffrey Riecke, Communications Associate, CFI Corporate social responsibility or profitability? Why are more and more financial services providers expanding their focus to include banking the unbanked? After all, many of those without formal financial services don’t have incomes to support big or frequently-used products, and their circumstances often present challenges for access, risk, and other services dimensions. Industry activity in recent ...
February 10, 2014 - 10:42pm from Mundo Microfinanzas
Acordada la operación, el grupo Credicorp confía enfortalecer su posición en el mercado de microempresas y pymes(foto: Edyficar) (Mundo Microfinanzas) El holding financiero peruano Credicorp anunció que su subsidiaria Edyficar ha llegado a un acuerdo con el Grupo ACP para la compra de sus acciones en MiBanco, uno de los mayores microprestamistas del Perú, equivalentes al 60,68% del paquete
February 10, 2014 - 7:03pm from MicroCapital
Grupo Accion Comunitaria del Peru (ACP), a Peruvian nonprofit holding company that is the majority shareholder of Peruvian microfinance institution (MFI) Mibanco, recently breached a covenant on a 10-year USD 85 million corporate bond due in 2021, resulting in a downgrade of its credit rating by Fitch, a US-based rating agency. According to Fitch, the downgrade was motivated by the negative performance of ACP’s primary operating subsidiary, Mibanco; foreign-exchange related losses; and ...
February 7, 2014 - 10:08pm from MicroCapital
ResponsAbility Participations AG, a Swiss investment company, reportedly has completed a capital increase of CHF 23.5 million (USD 26.4 million), bringing the company’s total equity capital to CHF 42.4 million (USD 47.6 million). The funds will be used to expand investments in banks and institutions working in developing countries that provide financial services to “low-income households as well as micro, small and medium-sized enterprises (MSMEs)” [1]. The source or sources of the ...
February 7, 2014 - 3:26pm from Financial Access Initiative Blog
In this week’s New and Noteworthy, we highlight responses to the USPS’ white paper on providing financial services, the impact of small dollar fees on the US health care system, and a new publication projecting the potential for digital payment markets in Africa. A new McKinsey & Co. publication shows the gap between current ...
February 7, 2014 - 12:36am from Microfinance Gateway News & Opinion
Credicorp Unit Agrees to Buy Control of Peru’s Top Microfinancer
February 6, 2014 - 12:46am from Microfinance Gateway News & Opinion
Credicorp Unit Agrees to Buy Control of Peru’s Top Microfinancer
February 6, 2014 - 12:43am from Microfinance Gateway News & Opinion
Credicorp Unit Agrees to Buy Control of Peru’s Top Microfinancer
February 4, 2014 - 10:19pm from MicroCapital
“AMK Cambodia – Have AMK loans helped its clients improve their overall wellbeing?”, published by Angkor Mikroheranhvatho Kampuchea (AMK); January 2014; 12 pages; To Be Released on February 11, 2014 This report explores the results of a five-year study of the effectiveness of Angkor Mikroheranhvatho Kampuchea (AMK), a Cambodian microfinance institution, in helping increase its clients’ livelihoods through microcredit services. The analysis compares survey results of client ...
February 3, 2014 - 7:57am from MicroCapital
Absolute Portfolio Management (APM), an Austrian firm that invests in microfinance and other sectors, recently disbursed loans totaling USD 18.5 million for microfinance institutions (MFIs) in Armenia, Azerbaijan, Ecuador, El Salvador, Georgia, India, Peru, Sri Lanka and Tajikistan [1]. The loans were made through the two microfinance funds managed by APM – Dual Return Fund-Vision Microfinance and Dual Return Fund-Vision Microfinance Local Currency. The names of the investees, apart from ...
February 1, 2014 - 6:30am from MicroCapital
Triodos Investment Management, a subsidiary of Dutch Triodos Bank, recently disbursed loans totaling the equivalent of USD 9.6 million to Grameen Financial Services Private Limited (Grameen Koota), a non-banking financial company (NBFC) in India, and Koperasi Mitra Dhuafa (Komida), an Indonesian microfinance institution (MFI) [1]. Grameen Koota will be receiving EUR 6 million (USD 8.2 million) through the issue of secured, redeemable, non-convertible debentures (NCDs) to two microfinance ...
January 29, 2014 - 6:39am from IFMR Blog
Guest post by Dan Radcliffe and Rodger Voorhies, Bill & Melinda Gates Foundation1 India faces a major financial exclusion challenge. According to the 2011 World Bank Global Findex Survey, only 35% of Indian adults have access to a formal bank account and 8% borrowed formally in the last 12 months. The Reserve Bank of India (RBI)
January 27, 2014 - 5:03am from MicroCapital
“A Guide to Responsible Investing,” published by MicroRate, December 2013, 7 pages, available at http://www.microrate.com/a-guide-to-responsible-investing-a-microrate-white-paper MicroRate, a US-based for-profit microfinance rating agency, has published a primer introducing the terminology and practices used by the “responsible” investing community. The report delineates ...
January 24, 2014 - 6:40pm from Center for Financial Inclusion Blog
> Posted by Laura Galindo and Alexandra Rizzi, Senior Associate and Deputy Director, the Smart Campaign A few days ago a post on this blog detailed debt collections practices in the United States. The Smart Campaign, led by Jami Solli of Consumers International, is working to shed light on ...
January 16, 2014 - 4:03pm from Mundo Microfinanzas
Grupo de banca comunal de Finca Perú. (foto: archivo Finca Perú) (Mundo Microfinanzas) El Fondo Multilateral de Inversiones (Fomin) aprobó una cooperación técnica de US$ 765 mil para un proyecto liderado por Finca Perú, que buscará prevenir la violencia contra más de 1000 mujeres en zonas periurbanas y rurales de los departamentos de Huancavelica y Ayacucho, en el centro-sur del Perú, a