HKL | 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	2,962,221	4,115,914	6,620,689	16,355,812	36,065,096
Offices	7	7	8	8	45
Personnel	113	141	169	248	433

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	16.81%	18.26%	18.10%	13.77%	18.85%
Debt to equity ratio	4.95	4.48	4.52	6.26	4.31
Deposits to loans	4.11%	4.64%	4.32%	4.65%	4.11%
Deposits to total assets	3.29%	4.14%	3.88%	4.03%	3.31%
Gross loan portfolio to total assets	80.08%	89.19%	89.88%	86.61%	80.55%

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		6,620	8,475	11,490	23,253	44,467
+ Products (credit)
Retail loans	—	—	—	—	—	44,467
+ Relationship
External customers	—	—	—	—	—	44,273
Management and staff	—	—	—	—	—	194
+ Gender
Male	—	—	—	—	—	9,370
Female	—	3,618	6,049	7,469	17,067	35,097
+ Methodology
Individual	—	—	8,475	—	—	—
Percent of women borrowers		54.65%	71.37%	65.00%	73.40%	78.93%
+ Number of outstanding loans		6,620	8,475	11,490	23,253	44,467
+ Products (credit)
Retail loans	—	—	—	—	—	44,467
+ Delinquency
Less than one month	—	6,357	8,356	11,490	23,200	44,298
+ One month or more	—	—	—	—	—	—
From one to three months	—	23	33	0	22	101
+ More than three months	—	—	—	—	—	—
From three to six months	—	225	14	0	20	52
+ More than six months	—	—	—	—	—	—
From six to twelve months	—	2	72	0	5	10
One year or more	—	13	0	0	6	6
Renegotiated loans	—	0	0	0	0	—
+ Gender
Male	—	—	—	—	—	9,370
Female	—	3,618	6,049	7,469	—	35,097
+ Methodology
Individual	—	—	8,475	—	—	—
+ Relationship
External customers	—	—	—	—	—	44,273
Management and staff	—	—	—	—	—	194
+ Gross loan portfolio		2,372,294	3,671,125	5,950,760	14,165,336	29,050,403
+ Maturity
+ Less than one year	—	1,897,836	2,936,900	2,544,774	—	—
+ Less than six months	—	—	—	—	—	—
Less than one month	—	—	—	—	1,030,028	—
From one to three months	—	—	—	—	4,156	—
From six to twelve months	—	—	—	—	6,787	—
+ One year or more	—	—	—	—	13,124,365	—
From one to three years	—	474,458	734,225	3,405,986	—	—
+ Gender
Male	—	—	—	—	—	7,257,403
Female	—	—	—	—	—	21,793,000
+ Products (credit)
+ Retail loans	—	—	—	—	—	29,050,403
+ Household financing	—	0	216,843	595,260	2,300,597	7,398,471
Consumption	—	—	—	—	—	5,856,646
Mortgage housing	—	—	—	—	—	796,890
Household other	—	—	—	—	—	744,935
Microenterprise	—	2,372,294	3,454,282	5,355,500	11,864,739	21,651,932
+ Delinquency
Less than one month	—	2,323,252	3,636,404	5,915,891	13,982,304	28,972,245
+ One month or more	—	—	—	—	29,949	—
From one to three months	—	5,341	7,882	7,832	13,374	43,486
+ More than three months	—	—	—	—	—	—
From three to six months	—	33,157	4,144	10,088	6,786	26,756
+ More than six months	—	—	—	—	—	—
From six to twelve months	—	1,708	11,666	7,861	5,696	4,186
One year or more	—	8,836	0	9,087	4,093	3,731
Renegotiated loans	—	0	0	0	0	0
+ Methodology
Individual	—	2,372,294	3,671,125	5,936,236	13,427,743	—
Solidarity group	—	0	0	14,524	737,593	—
Village banking s h g	—	0	0	—	—	—
+ Residency
Resident	—	—	—	—	14,165,336	—
+ Relationship
External customers	—	2,368,786	3,653,529	5,931,523	14,012,253	28,822,118
Management and staff	—	3,508	17,596	19,237	153,083	228,285
+ Economic sectors
Agriculture	—	403,290	1,110,849	768,105	6,375,436	—
Construction	—	94,892	57,065	353,230	270,944	—
Services	—	521,905	361,405	390,869	1,094,440	—
Trade and commerce	—	1,186,146	1,434,212	2,945,549	2,676,426	—
Transportation	—	94,892	209,234	569,287	875,347	—
Economic sectors other	—	71,169	498,360	923,720	2,872,743	—
Average loan balance per borrower		358	433	518	609	653
Average loan balance borrower per borrower / GNI per capita		91.89%	94.17%	103.58%	110.76%	118.78%
Average outstanding balance		358	433	518	609	653
Average outstanding balance / GNI per capita		91.89%	94.17%	103.58%	110.76%	118.78%
+ Number of depositors		7,797	8,475	13,778	23,728	48,852
+ Gender
Male	—	—	—	—	—	10,683
Female	—	—	—	—	—	38,169
+ Products (deposits)
+ Retail deposits	—	—	—	—	—	48,852
+ Voluntary deposits	—	333	350	431	333	720
Demand deposits	—	—	—	—	—	720
Compulsory deposits	—	7,797	8,475	13,778	23,728	48,132
+ Number of deposit accounts		7,797	8,475	13,778	23,728	48,852
+ Gender
Male	—	—	—	—	—	10,683
Female	—	—	—	—	—	38,169
+ Products (deposits)
+ Retail deposits	—	—	—	—	—	48,852
Voluntary deposits	—	333	350	431	333	—
Compulsory deposits	—	7,797	8,475	13,778	23,728	—
+ Deposits		97,427	170,323	257,174	658,620	1,194,239
+ Gender
Male	—	—	—	—	—	349,101
Female	—	—	—	—	—	845,138
+ Products (deposits)
+ Retail deposits	—	—	—	—	658,620	1,194,239
+ Voluntary deposits	—	3,364	25,536	49,214	259,765	286,425
Demand deposits	—	—	—	15,685	259,765	286,425
Time deposits	—	—	—	33,529	0	—
Compulsory deposits	—	94,063	144,787	207,960	398,855	907,814
Average deposit balance per depositor		13	20	19	28	24
Average deposit balance per depositor / GNI per capita		3.00%	4.00%	4.00%	5.00%	4.00%
Average deposit account balance		13	20	19	28	24
Average deposit account balance / GNI per capita		0	0	0	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	5.01%	6.48%	7.44%	5.54%	6.86%
Return on equity	25.65%	36.68%	40.99%	36.86%	39.72%
Operational self sufficiency	131.88%	139.25%	146.80%	137.23%	149.93%

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	29.41%	29.40%	30.19%	25.97%	26.00%
Profit margin	24.18%	28.19%	31.88%	27.13%	33.30%
Yield on gross portfolio (nominal)	31.44%	31.84%	31.99%	28.63%	30.96%
Yield on gross portfolio (real)	26.48%	23.97%	24.36%	19.47%	21.63%

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	22.30%	21.11%	20.57%	18.93%	17.34%
Financial expense/ assets	2.15%	4.27%	5.49%	6.38%	7.55%
Provision for loan impairment/ assets	0.02%	0.60%	0.56%	0.65%	0.18%
Operating expense/ assets	20.14%	16.23%	14.52%	11.89%	9.61%
Personnel expense/ assets	11.41%	9.01%	7.56%	5.20%	5.54%
Administrative expense/ assets	8.73%	7.23%	6.96%	6.69%	4.07%

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	24.26%	19.01%	16.20%	13.59%	11.66%
Personnel expense/ loan portfolio	13.74%	10.55%	8.43%	5.94%	6.73%
Average salary/ GNI per capita	6.03	5.46	5.23	5.21	7.76
Cost per borrower	76	76	78	79	74
Cost per loan	76	76	78	79	74

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	59	60	68	94	103
Loans per staff member	59	60	68	94	103
Borrowers per loan officer	73	87	182	188	212
Loans per loan officer	73	87	182	188	212
Depositors per staff member	69	60	82	96	113
Deposit accounts per staff member	69	60	82	96	113
Personnel allocation ratio	80.53%	68.79%	37.28%	50.00%	48.50%

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	2.07%	0.65%	0.59%	0.21%	0.27%
Portfolio at risk > 90 days	1.84%	0.43%	0.45%	0.12%	0.12%
Write-off ratio	2.24%	1.08%	0.61%	0.19%	0.07%
Loan loss rate	2.24%	1.08%	0.61%	0.19%	-0.03%
Risk coverage	274.61%	393.99%	269.86%	501.43%	260.18%
Non-earning liquid assets as a % of total assets	17.80%	8.28%	4.70%	10.05%	16.67%

MIX Market

HKL5Hattha Kaksekar Ltd.

Institutional Characteristics

Financing Structure

Outreach

Overall Financial Performance

Revenues

Expenses

Efficiency

Productivity

Risk and Liquidity