CREDIT | MIX Market

Institutional Characteristics

	2004	2005	2006	2007	2008
A la date du	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
Devise	USD	USD	USD	USD	USD
Total de l’actif	1,952,654	2,933,624	5,578,304	11,410,017	20,665,049
Bureaux	5	5	5	7	28
Personel	124	140	150	223	390

Financing Structure

	2004	2005	2006	2007	2008
A la date du	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
Capital/ Actif	76.72%	72.50%	46.83%	29.00%	22.69%
Ratio Dettes/ Fonds Propres	0.30	0.38	1.14	2.45	3.41
Épargne sur encours de prêts	13.65%	13.58%	12.36%	11.56%	4.53%
Épargne sur actif total	11.15%	11.93%	10.24%	10.43%	4.18%
Encours de prêts sur actif total	81.72%	87.81%	82.86%	90.30%	92.23%

Outreach

		2004	2005	2006	2007	2008
A la date du		2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
Devise		USD	USD	USD	USD	USD
+ Nombre d'emprunteurs actifs		10,909	11,451	10,796	18,126	33,887
+ Products (credit)
Retail loans	—	—	—	—	—	33,887
+ Relationship
External customers	—	—	—	—	—	33,723
Management and staff	—	—	—	—	—	164
+ Gender
Male	—	—	—	—	—	1,818
Female	—	10,582	11,107	10,711	17,665	32,069
+ Methodology
Individual	—	—	—	—	—	27,965
Solidarity group	—	—	—	—	—	5,922
+ Location
Urban	—	—	—	—	—	13,555
Rural	—	—	—	—	—	20,332
Pourcentage d'emprunteur qui sont des femmes		97.00%	97.00%	99.21%	97.46%	94.64%
+ Nombre de prêts en cours		10,909	11,451	10,796	18,126	33,887
+ Methodology
Individual	—	—	—	—	—	27,965
Solidarity group	—	—	—	—	—	5,922
+ Delinquency
Less than one month	—	10,358	11,451	10,514	18,040	33,766
+ One month or more	—	—	—	—	—	—
From one to three months	—	333	0	120	43	42
+ More than three months	—	—	—	—	—	—
From three to six months	—	218	0	49	17	46
+ More than six months	—	—	—	—	—	—
From six to twelve months	—	0	0	53	18	33
One year or more	—	0	0	60	8	0
Renegotiated loans	—	0	0	0	0	0
+ Products (credit)
+ Retail loans	—	—	—	—	—	33,887
+ Household financing	—	—	—	—	—	5,922
Household other	—	—	—	—	—	5,922
Microenterprise	—	—	—	—	—	27,965
+ Relationship
External customers	—	—	—	—	—	33,723
Management and staff	—	—	—	—	—	164
+ Gender
Male	—	—	—	—	—	1,818
Female	—	10,582	11,107	10,711	17,665	32,069
+ Location
Urban	—	—	—	—	—	13,555
Rural	—	—	—	—	—	20,332
+ Encours Brut de Prêts		1,595,727	2,576,065	4,622,004	10,303,487	19,060,212
+ Location
Urban	—	—	—	—	—	8,577,095
Rural	—	—	—	—	—	10,483,117
+ Gender
Male	—	—	—	—	—	1,946,944
Female	—	—	—	—	—	17,113,268
+ Products (credit)
+ Retail loans	—	—	—	—	—	19,060,212
+ Household financing	—	—	—	—	—	594,084
Household other	—	—	—	—	—	594,084
Microenterprise	—	—	—	—	—	18,466,128
+ Delinquency
Less than one month	—	1,565,227	2,501,169	4,512,036	10,269,026	18,999,910
+ One month or more	—	30,500	62,761	98,855	34,461	—
From one to three months	—	9,800	26,148	50,807	10,063	32,841
+ More than three months	—	—	—	—	—	—
From three to six months	—	20,700	36,613	15,172	14,589	12,234
+ More than six months	—	—	—	—	—	—
From six to twelve months	—	0	0	20,945	7,889	15,227
One year or more	—	0	0	11,931	1,920	0
Renegotiated loans	—	0	0	0	0	0
+ Maturity
Less than one year	—	1,595,727	1,884,130	2,357,222	5,254,778	—
+ One year or more	—	—	—	—	—	—
From one to three years	—	0	691,935	2,264,782	5,048,709	—
+ Methodology
Individual	—	1,047,650	2,149,356	211,472	10,085,658	18,466,128
Solidarity group	—	548,077	426,709	4,410,532	217,829	594,084
Village banking s h g	—	—	—	—	—	—
+ Economic sectors
Agriculture	—	49,168	134,273	360,452	1,099,638	—
Trade and commerce	—	1,546,559	2,441,792	4,261,552	9,203,849	—
+ Relationship
External customers	—	1,595,727	2,563,930	4,610,891	10,246,960	18,921,432
Management and staff	—	0	12,135	11,113	56,527	138,780
Solde moyen de crédit par emprunteur		146	225	428	568	562
Solde moyen de prêt par emprunteur/ RNB par habitant		37.51%	48.91%	85.62%	103.35%	102.27%
Solde de prêt moyen		146	225	428	568	562
Solde de crédit moyen/ RNB par habitant		37.51%	48.91%	85.62%	103.35%	102.27%
+ Nombre d'épargnants		10,909	11,451	10,796	17,677	3,246
+ Gender
Male	—	—	—	—	—	353
Female	—	—	—	—	—	2,893
+ Products (deposits)
+ Retail deposits	—	—	—	—	—	3,246
+ Voluntary deposits	—	172	188	228	241	323
Demand deposits	—	—	—	—	—	323
Compulsory deposits	—	10,909	11,451	10,796	17,677	2,923
+ Nombre de comptes d'épargne		10,909	11,451	10,796	17,677	3,246
+ Gender
Male	—	—	—	—	—	353
Female	—	—	—	—	—	2,893
+ Products (deposits)
+ Retail deposits	—	—	—	—	—	3,246
+ Voluntary deposits	—	172	188	228	241	323
Demand deposits	—	—	—	—	—	323
Compulsory deposits	—	10,909	11,451	10,796	17,677	2,923
+ Dépôts		217,778	349,922	571,268	1,190,584	863,484
+ Gender
Male	—	—	—	—	—	680,305
Female	—	—	—	—	—	183,179
+ Products (deposits)
+ Retail deposits	—	217,778	349,922	571,268	1,190,584	863,484
+ Voluntary deposits	—	28,901	87,586	254,904	852,915	698,506
Demand deposits	—	28,901	87,586	254,904	852,915	698,506
Time deposits	—	0	0	0	0	—
Compulsory deposits	—	188,877	262,336	316,364	337,669	164,978
Montant moyen d'épargne par épargnant		20	31	53	67	266
Montant moyen de dépôt par déposant/ RNB par habitant		5.00%	7.00%	11.00%	12.00%	48.00%
Montant d'épargne moyen		20	31	53	67	266
Montant de dépôt moyen/ RNB par habitant		0	0	0	0	0

Overall Financial Performance

	2004	2005	2006	2007	2008
A la date du	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
	USD	USD	USD	USD	USD
Rendement de l'actif	-3.51%	1.37%	3.81%	5.69%	5.59%
Rendement des fonds propres	-5.36%	1.84%	6.84%	16.32%	22.41%
Auto-suffisance opérationnelle	90.22%	107.44%	123.65%	139.63%	132.91%

Revenues

	2004	2005	2006	2007	2008
A la date du	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
	USD	USD	USD	USD	USD
Ratio des produits financiers sur actif	28.46%	33.87%	27.49%	26.88%	27.81%
Marge bénéficiaire	-10.85%	6.92%	19.13%	28.38%	24.76%
Rendement nominal du portefeuille brut	39.55%	38.42%	31.67%	30.19%	30.28%
Rendement réel du portefeuille brut	34.29%	30.16%	24.05%	20.91%	21.00%

Expenses

	2004	2005	2006	2007	2008
A la date du	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
	USD	USD	USD	USD	USD
Ratio de ch. totales à l'actif	31.54%	31.52%	22.24%	19.25%	20.93%
Ratio de ch. financières sur actif	0.73%	1.17%	2.68%	5.21%	7.32%
Ratio de dotations aux provisions pour prêts irrécouvrables	0.67%	3.62%	1.02%	0.00%	0.00%
Ratio de ch. d'exploitation à l'actif	30.14%	26.73%	18.54%	14.03%	13.61%
Ratio de ch. de personnel	18.88%	14.93%	10.18%	8.57%	8.94%
Ratio de charges administratives	11.26%	11.80%	8.36%	5.46%	4.67%

Efficiency

	2004	2005	2006	2007	2008
A la date du	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
	USD	USD	USD	USD	USD
Ratio de ch. d'exploitation au portefeuille	44.42%	31.31%	21.92%	15.97%	14.87%
Ratio de ch. de personnel au portefeuille	27.83%	17.49%	12.03%	9.75%	9.77%
Salaire moyen/ PNB par habitant	7.30	6.01	5.97	7.10	8.51
Coût par emprunteur	56	58	71	82	84
Coût par prêt	56	58	71	82	84

Productivity

	2004	2005	2006	2007	2008
A la date du	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
Nombre d'emprunteurs par effectif du personnel	88	82	72	81	87
Prêts par effectif du personnel	88	82	72	81	87
Emprunteurs par agent de crédit	404	153	174	206	220
Prêts par agent de crédit	404	153	174	206	220
Nombre d'épargnants par effectif du personnel	88	82	72	79	8
Comptes d'épargne vol. par effectif du personnel	88	82	72	79	8
Distribution du personnel	21.77%	53.57%	41.33%	39.46%	39.49%

Risk and Liquidity

	2004	2005	2006	2007	2008
A la date du	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31
	USD	USD	USD	USD	USD
Portefeuille à risque > 30j	1.91%	2.44%	2.14%	0.33%	0.32%
Portefeuille à risque > 90j	1.30%	1.42%	1.04%	0.24%	0.14%
Taux de radiation de prêts	1.59%	2.53%	0.82%	0.18%	0.04%
Taux de pertes sur prêts	1.59%	2.53%	0.82%	0.18%	0.04%
Couverture du risque	162.75%	133.16%	100.00%	251.23%	133.90%
Actifs non productifs en pourcentage de l'actif total	17.78%	11.02%	15.41%	2.22%	4.39%

MIX Market

CREDIT5CREDIT MFI

Institutional Characteristics

Financing Structure

Outreach

Overall Financial Performance

Revenues

Expenses

Efficiency

Productivity

Risk and Liquidity