Credi Fé Desarrollo Microempresarial S.A.

Data provided through ACCION

Gross Loan Portfolio USD, 2011: 453.6 million

Number of active borrowers 2011: 118,477

Average loan balance per borrower USD, 2011: 3,828.3

Deposits USD, 2011: 67.6 million

Assets USD, 2011: 460.3 million

Number of depositors 2011: 163,974

Mission:

Somos una subsidiaria del Banco Pichincha, que a través de la gestión y administración de servicios financieros integrados y sustentables, contribuye al desarrollo del sector microempresarial. Garantizamos a los accionistas rentabilidad para nuestra sostenibilidad, y progreso a los ... Read more

Background and Main Challenges:

• Tener la rentabilidad adecuada que nos asegure permanencia en el mercado de microfinanzas. • Maximizar y fortalecer la relación de negocios con el segmento objetivo; a través de la mejor oferta de servicios, atendiendo las necesidades financieras de la microempresa y alcanzando amplia ... Read more

Address:

Francisco Robles 411 y 6 de Diciembre - Edificio Quorus

Quito

Pichincha

Ecuador

Phone:

(593 2) 2502150

Fax:

(593 2) 2950625 /201

Email:

llrivera [at] pichincha [dot] com

Website:

www.credife.com

Main Funding Sources:

Loans

Savings

Shareholder Capital

Products and Services:

Loans

Insurance

Products:

Loans

Looking for (Investment Types):

Capacity-Building Grants

Donations

Guarantees

Loans in US$

Loans in EUR

% Operations Comprised by MF:

91 - 100

Date established:

Apr 9 1999

FYE:

31-Dec

Current Legal Status:

NBFI

Regulated:

yes

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Clients living in rural areas	1
Clients living in urban areas	2
Women	3
+ Development goals (ranked by importance)
Increased access to financial services	1
Growth of existing businesses	2
Poverty reduction	3
Development of start-up enterprises	4
Employment generation	5
+ Poverty targets
Poor clients	1
Low income clients	1
+ Governance
Has a formal board committee that monitors social performance
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises	1
Microcredit for household needs/consumption	1
Loans for agriculture	1
Housing loans	1
+ Savings products offered
Checking accounts
Voluntary savings accounts
Fixed term deposits
Special purpose savings accounts
+ Compulsory insurance products required
Compulsory credit life insurance	1
+ Voluntary insurance products offered
Voluntary life insurance	1
Other voluntary insurance offered:	1
Int ps othertextvol c	Seguro de cobertura hospitalaria
+ Other financial products and services offered
Debit/credit card	1
Mobile banking services	1
Savings facilitation services
Remittances services	1
+ Non-financial services offered
+ Enterprise services offered
+ Education services offered
Financial literacy education	1
+ Health services offered
+ Women's empowerment services offered
+ Products and services targeting the poor
Products and services specifically designed to target the poor:	Capital de trabajo, Ahorro programado, Seguro de vida y hospitalario, adaptados a las necesidades de los clientes microempresariales.
+ Social responsibility to clients
+ Client protection principles in use
The loan approval process requires evaluation of borrower repayment capacity and loan affordability. Loan approval does not rely solely on guarantees (whether peer guarantees, co-signers or collateral) as a substitute for good capacity analysis.
Internal audits check household debt exposure, lending practices that violate procedures including unauthorized re-financing, multiple borrowers or co-signers per household, and other practices that could increase indebtedness.
Productivity targets and incentive systems value portfolio quality at least as highly as other factors, such as disbursement or customer growth. Growth is rewarded only if portfolio quality is high.
Prices, terms and conditions of all financial products are fully disclosed to the customer prior to sale, including interest charges, insurance premiums, minimum balances, all fees, penalties, linked products, third party fees, and whether these can change over time.
Staff is trained to communicate effectively with all customers, ensuring that they understand the product, the terms of the contract, their rights and obligations. Communications techniques address literacy limitations (e.g. reading contracts out loud, materials in local languages).
Acceptable and unacceptable debt collection practices are clearly spelled out in a code of ethics, book of staff rules or debt collection manual.
The organization's corporate culture values and rewards high standards of ethical behavior and customer service.
A mechanism to handle customer complaints is in place, has dedicated staff resources, and is actively used. (Suggestion boxes alone are generally not considered adequate.)
Customers know how their information will be used. Staff explains how data will be used and seeks permission for use.
+ Cost of services to clients
Declining balance interest method
+ Social responsibility to staff
+ Human resources
Transparency on salary (a clear salary scale based upon market salaries)
Benefits (medical insurance, pension contribution)
Protection at work (safety, anti-harassment)
Equality (anti-discrimination, equal pay for men and women with equivalent skill levels)
+ Basis of staff incentives related to social performance
Ability to attract new clients from target market
Client retention/drop-out rate
Portfolio quality
+ Social responsibility to the environment
This institution raises clients' awareness about environmental impacts
+ Poverty measurement tools in use
Per capita household income