Emprender | 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	447,351	663,377	794,451	1,715,405	2,398,666
Offices	5	6	8	10	11
Personnel	18	22	36	58	72

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	21.45%	22.38%	30.23%	21.35%	23.12%
Debt to equity ratio	3.66	3.47	2.31	3.68	3.33
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	86.07%	76.76%	91.79%	88.78%	85.75%

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		2,139	2,327	3,391	7,078	7,502
+ Gender
Male	—	—	—	—	—	1,521
Female	—	1,563	1,647	2,537	5,583	5,981
+ Products (credit)
+ Retail loans	—	—	—	—	—	7,502
Microenterprise	—	—	—	—	—	7,502
+ Methodology
Individual	—	—	—	—	—	4,770
Solidarity group	—	—	—	—	—	899
Village banking s h g	—	—	—	—	—	1,833
+ Location
Urban	—	—	—	—	—	6,809
Rural	—	—	—	—	—	693
Percent of women borrowers		73.07%	70.78%	74.82%	78.88%	79.73%
+ Number of outstanding loans		2,139	2,327	3,391	7,492	7,502
+ Methodology
Individual	—	—	—	—	—	4,770
Solidarity group	—	—	—	—	—	899
Village banking s h g	—	—	—	—	—	1,833
+ Products (credit)
+ Retail loans	—	—	—	—	—	7,502
Microenterprise	—	—	—	—	—	7,502
+ Delinquency
Less than one month	—	0	0	3,141	7,230	6,947
+ One month or more	—	—	—	—	—	—
From one to three months	—	0	0	59	42	88
+ More than three months	—	—	—	—	—	—
From three to six months	—	0	0	66	72	139
+ More than six months	—	—	—	—	—	—
From six to twelve months	—	0	0	88	84	277
One year or more	—	0	0	29	25	20
Renegotiated loans	—	0	0	8	39	31
+ Location
Urban	—	—	—	—	—	6,809
Rural	—	—	—	—	—	693
+ Gross loan portfolio		385,049	509,214	729,238	1,523,002	2,056,807
+ Methodology
Individual	—	—	—	—	—	305,642
Solidarity group	—	—	—	—	—	823,124
Village banking s h g	—	—	—	—	—	928,042
+ Products (credit)
+ Retail loans	—	—	—	—	—	2,056,807
Microenterprise	—	—	—	—	—	2,056,807
+ Delinquency
Less than one month	—	379,566	491,078	710,170	1,489,161	2,005,875
+ One month or more	—	5,483	18,136	19,068	33,841	—
From one to three months	—	915	2,692	4,489	4,672	3,042
+ More than three months	—	—	—	—	—	—
From three to six months	—	1,351	2,838	5,439	7,711	8,946
+ More than six months	—	—	—	—	—	—
From six to twelve months	—	2,277	1,827	5,289	8,500	15,469
One year or more	—	110	2,056	2,581	4,254	22,455
Renegotiated loans	—	830	8,722	1,270	8,706	1,021
+ Location
Urban	—	—	—	—	—	1,801,152
Rural	—	—	—	—	—	255,656
Average loan balance per borrower		180	219	215	215	274
Average loan balance borrower per borrower / GNI per capita		18.75%	21.45%	19.37%	17.08%	21.76%
Average outstanding balance		180	219	215	203	274
Average outstanding balance / GNI per capita		18.75%	21.45%	19.37%	16.13%	21.76%
Number of depositors		0	151	1,749	0	0
Number of deposit accounts		0	152	1,749	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		—	0	0	—	—
Average deposit balance per depositor / GNI per capita		—	0.00%	0.00%	—	—
Average deposit account balance		—	0	0	—	—
Average deposit account balance / GNI per capita		—	0	0	—	—

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	9.78%	10.85%	7.88%	9.63%	8.33%
Return on equity	50.49%	49.30%	29.57%	39.86%	37.23%
Operational self sufficiency	120.67%	131.98%	120.65%	126.35%	120.14%

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	57.09%	44.77%	46.04%	46.18%	49.71%
Profit margin	17.13%	24.23%	17.12%	20.85%	16.76%
Yield on gross portfolio (nominal)	56.45%	51.55%	51.46%	50.06%	55.50%
Yield on gross portfolio (real)	49.79%	43.80%	45.23%	38.04%	43.04%

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	47.31%	33.92%	38.16%	36.55%	41.38%
Financial expense/ assets	8.68%	7.14%	7.28%	5.59%	6.60%
Provision for loan impairment/ assets	1.95%	2.36%	2.19%	2.63%	4.15%
Operating expense/ assets	36.67%	24.42%	28.69%	28.34%	30.62%
Personnel expense/ assets	11.40%	15.50%	18.01%	17.01%	17.80%
Administrative expense/ assets	25.27%	8.92%	10.69%	11.33%	12.82%

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	42.73%	30.33%	33.78%	31.58%	35.19%
Personnel expense/ loan portfolio	13.28%	19.25%	21.20%	18.95%	20.46%
Average salary/ GNI per capita	2.65	4.22	4.08	3.60	4.47
Cost per borrower	74	61	73	68	86
Cost per loan	—	61	73	65	84

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	119	106	94	122	104
Loans per staff member	119	106	94	129	104
Borrowers per loan officer	214	179	170	139	171
Loans per loan officer	214	179	170	147	171
Depositors per staff member	0	7	49	0	0
Deposit accounts per staff member	0	7	49	0	0
Personnel allocation ratio	55.56%	59.09%	55.56%	87.93%	61.11%

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	1.42%	3.56%	2.61%	2.22%	2.48%
Portfolio at risk > 90 days	1.19%	3.03%	2.00%	1.92%	2.33%
Write-off ratio	0.00%	0.24%	1.63%	0.74%	1.49%
Loan loss rate	0.00%	0.24%	1.61%	0.70%	1.36%
Risk coverage	225.80%	134.98%	159.57%	167.21%	243.08%
Non-earning liquid assets as a % of total assets	11.01%	22.26%	5.16%	4.38%	10.92%

MIX Market

Emprender5EMPRENDER Bolivia

Institutional Characteristics

Financing Structure

Outreach

Overall Financial Performance

Revenues

Expenses

Efficiency

Productivity

Risk and Liquidity