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Latin American and the Caribbean Microfinance Market Trends 2006-2011

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  • Datos 2006 y 2011. Incluir datos en los gráficos.
  • Datos 2006 y 2011. Incluir datos en los gráficos.
  • Agregar los datos al final de la serie.
  • Agregar los datos al final de la serie.
  • Datos 2006 y 2011. Incluir datos en los gráficos.
  • Datos al final de la serie.
  • Datos al final de la serie.
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    • 1. Microfinance Information Exchange Latin America and the Caribbean Microfinance Market Trends 2006 – 2011 Renso Martínez The Leading Source of Microfinance Data Premier Source for Microfinance Dataand Analysis and AnalysisThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation are allowed if the authors and sponsors are mentioned. In any other cases is strictly prohibited.
    • 2. Contact Information This report was prepared by Renso Martínez, Operations Manager and MIX Regional Manager for Latin America and the Caribbean. The content and opinions expressed herein are those of the author and do not necessarily represent the official position of the Inter-American Development Bank or of any of its members. Reproduction of this report in full or in part is permitted provided that credit is given to the author and sponsors. Multilateral Investment Fund Microfinance Information eXchange, Inc. (FOMIN) (MIX) Contact information: Contact: Renso Martinez rmartinez@themix.org Sergio Navajas, Senior Specialist; MIX Lima, Peru Jirón León Velarde 333, Lima 14, Peru sergion@iadb.org Tel: (51) 1 471-9526 / Fax: (51) 1 471-6816 Paola Pedroza, SeniorSpecialist; paolap@iadb.org Headquarters in Washington, D.C., United States of America: 1901 Pennsylvania Ave., NW, Suite 307 1300 New York Avenue, N.W. Washington, D.C. 20006 USA Washington, D.C. 20577 Web: www.fomin.org Other offices: Email: mifcontact@iadb.org Rabat, Morocco● Hyderabad, India ● Baku, Azerbaijan Web: www.themix.org Email: info@themix.orgSeptember 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 3. Presentation MIX and the Multilateral Investment Fund (FOMIN), a member of IDB Group, are pleased to present the report “Latin America and the Caribbean Microfinance Market Trends 2006 – 2011”, a joint effort to gather, analyze and disseminate information from a select group of Microfinance Institutions (MFIs). For this third issue of the report, the principal aim has been to present the most significant trends in performance of MFIs in the region on the basis of data provided by 48 institutions (13.2% of the MIX sample) that operated in the market throughout the 2006-2011 period. In total, the sample justifies coverage of 55% of lenders and 53% of the regional gross portfolios reported to MIX. All the data is available on a spreadsheet that can be downloaded from the MIX webpage. Our thanks go to the various sources of data and to our readers for following us in each of our publications.September 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 4. Introduction MAIN ACCOUNTS AND INDICATORS OF 48 LAC MFI (us$ Millions) • MFIs in the region accelerated their growth, taking account of an increase of 2011 YoY. % YoY. % Main accounts over 20% in the main indicators of scale Balances 11/10 11/06 1/ and outreach, and underlining the 24% Borrow ers (000) 10,512 17% 17% increase in the portfolio in 2011, which Depositors (000) 14,096 9% 24% led to a growth in assets of 19%. Gross Loan Portfolio 15,797 24% 23% Microenterprise 2/ 8,707 23% n/d • Despite this, in terms of Other credit types 7,089 24% n/d financing, growth in deposits fell by 20% Assets 20,718 19% 23% over the same period, while debts tracked growth in the portfolio with a Deposits 12,629 20% 25% similar percentage (23%). Growth in Borrow ings 3,765 23% 19% equity was lower (18%) when compared Equity 3,264 18% 24% to other accounts. 1/ Annual average n/d: Not available 2/ Final MFI information for Bolivia, Ecuador and Peru, and estimated for the other countries.September 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 5. Credit and Deposit at Regional Level Active Borrow ers and Depositors in 48 MFI from LAC Credit and Deposits in 48 MFI from LAC Outreach Scale (# 000) (US$ Millions) 18,000 18,000 Borrowers GLP Depositors Deposits 15,797 14,096 15,000 15,000 12,000 12,000 12,629 9,000 9,000 10,512 6,000 6,000 3,000 3,000 0 0 2006 2007 2008 2009 2010 2011 2006 2007 2008 2009 2010 2011 • The MFI portfolio in the region rose in 2011, showing growth in the portfolio (24%) and in borrowers (17%), driven by all credit types. • Meanwhile, a deceleration was seen in the performance of funds raised in the form of deposits (20%) and depositors (9%) compared to 2010.September 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 6. Credit and Deposits by Sub-region Borrow ers and GLP trends in 48 MFI from LAC Depositors and Deposits in 48 MFI from LAC Borrowers GLP Depositors Deposits (2006 = 100) (2006 = 100) (2006 = 100) (2006 = 100) 400 400 400 400 300 300 300 300 200 200 200 200 100 100 100 100 0 0 0 0 2006 2007 2008 2009 2010 2011 2006 2007 2008 2009 2010 2011 MX (Borrowers) CC (Borrowers) MX (Depositors) CC (Depositors) SA (Borrowers) MX (GLP) SA (Depositors) MX (Deposits) CC (GLP) SA (GLP) CC (Deposits) SA (Deposits) BORROWERS AND DEPOSITORS IN LAC SUB REGIONS CREDIT AND DEPOSITS IN LAC SUB REGIONS 2011 YoY. % YoY. % 2011 YoY. % YoY. % Main accounts Sub Region Main accounts Sub Region Balances 11/10 11/06 1/ Balances 11/10 11/06 1/ MX 4,588 18.0% 28.7% MX 1,584 12.3% 24.4% Borrow ers Gross Loans Portfolio CC 504 7.1% 4.3% CC 941 10.7% 14.3% (# Thousands) (US$ Millions) SA 5,420 17.1% 11.6% SA 13,272 26.1% 23.4% MX 424 14.2% 20.1% MX 80 1.0% 28.8% Depositors Deposits CC 1,095 6.0% 23.4% CC 633 13.5% 20.9% (# Thousands) (US$ Millions) SA 12,577 9.2% 24.7% SA 11,916 20.8% 24.8%September 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 7. Credit and Deposits in Three Countries Borrow ers and GLP trends in 3 countries from LAC Depositors and Deposits in 3 countries from LAC 2006 = 100 2006 = 100 400 500 400 300 300 200 200 100 100 0 0 2006 2007 2008 2009 2010 2011 2006 2007 2008 2009 2010 2011 BOL (Borrowers) ECU (Borrowers) BOL (Depositors) ECU (Depositors) PER (Borrowers) BOL (GLP) PER (Depositors) BOL (Deposits) ECU (GLP) PER (GLP) ECU (Deposits) PER (Deposits) BORROWERS AND DEPOSITORS IN 3 LAC COUNTRIES CREDIT AND DEPOSITS IN 3 LAC COUNTRIES 2011 YoY. % YoY. % 2011 YoY. % YoY. % Main accounts Sub Region Main accounts Sub Region Balances 11/10 11/06 1/ Balances 11/10 11/06 1/ BOL 556 13.4% 9.9% BOL 2,202 28.4% 27.5% Borrow ers Gross Loans Portfolio ECU 377 11.9% 5.7% ECU 982 12.3% 14.4% (# Thousands) (US$ Millions) PER 2,075 13.8% 10.6% PER 5,298 27.7% 30.7% BOL 2,233 9.8% 26.6% BOL 1,955 17.4% 32.8% Depositors Deposits ECU 696 10.0% 17.1% ECU 721 20.8% 14.8% (# Thousands) (US$ Millions) PER 2,705 9.1% 16.4% PER 4,258 24.6% 35.1%September 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 8. Balance by Client and by Sub-region Average client balance trends in 48 MFI from LAC (in US$) 2,500 2,449 LAC MX CC SA 2,000 1,868 1,500 1,503 947 1,000 896 500 578 188 345 0 2006 2007 2008 2009 2010 2011 2006 2007 2008 2009 2010 2011 Average Loan balance per Borrower Average Deposit balance per DepositorSeptember 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 9. Credit Types by Sub-region GLP estructure trends by Credit type in 48 MFI from LAC 100% 8.6% 6.0% 1.2% 6.9% 6.2% 9.5% 5.9% 8.9% 90% 7.6% 9.7% 80% 27.6% 38.4% 28.1% 26.3% 27.7% 70% 38.1% 60% 26.9% 34.1% 50% 40% 44.4% 44.2% 53.3% 56.7% 30% 59.3% 48.1% 20% 25.5% 20.3% 10% 17.2% 18.7% 9.7% 9.4% 0% 0.0% 0.0% 2006 2011 2006 2011 2006 2011 2006 2011 LAC MX CC SA * *Change on microenterprise and comercial credit type definition in Peru starting 2010 Housing Consumption Microenterprise ComercialSeptember 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 10. Credit Types in Three Countries GLP estructure trends by Credit type in 3 countries from LAC 100% 3.3% 2.8% 6.5% 5.6% 4.3% 6.8% 90% 8.6% 15.3% 22.1% 20.4% 23.0% 80% 25.2% 70% 60% 50% 75.6% 57.6% 60.1% 40% 78.9% 55.5% 72.3% 30% 20% 10% 15.0% 14.5% 12.5% 9.2% 0.2% 0% 4.5% 2006 2011 2006 2011 2006 2011 BOL ECU PER * *Change on microenterprise and comercial credit type definition starting 2010 Housing Consumption Microenterprise ComercialSeptember 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 11. Financing by Sub-region Debt to Equity and Productivity assets ratios trends in 48 MFI from LAC Debt to Equity GLP to Assets 10 100% Debt to Equity GLP to Assets 76.2% 76.7% 77.7% 76.1% 8 80% 6.4 6 5.3 60% 5.2 4 40% 1.8 2 20% 0 0% 06 07 08 09 10 11 06 07 08 09 10 11 06 07 08 09 10 11 06 07 08 09 10 11 LAC MX CC SA • Leverage in the region displayed a slight increase in 2011, partly due to the results from Mexico, where equity was reduced in the light of lower profits, but still remains below the levels recorded prior to 2009. • Assets productivity presented improvements at a regional and sub-regional level beginning in 2010, and showed positive evolution in 2011.September 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 12. Financing in Three Countries Debt to Equity and Productivity assets ratios trends in 3 countries from LAC Debt to Equity GLP to Assets 15 100% Debt to Equity GLP to Assets 82.8% 79.1% 12 80% 78.6% 9.2 9 60% 6.6 6.3 6 40% 3 20% 0 0% 06 07 08 09 10 11 06 07 08 09 10 11 06 07 08 09 10 11 BOL ECU PER • Despite the debt/capital ratio in South America showing a slight fall, in Bolivia, Ecuador and Peru there were no substantial changes in the overall trend. • Greater differences emerged in the productivity of assets, with the trend in Peru showing an increase.September 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 13. Financial Structure by Sub-regions Financial structure in MFI from LAC 100% 3.7% 3.9% 90% 80% 40.9% 52.3% 70% 57.1% 61.0% 53.9% 55.7% 64.0% 68.3% 60% 50% 40% 3.7% 35.2% 5.3% 25.9% 30% 21.8% 18.2% 17.3% 13.2% 20% 38.8% 5.7% 5.6% 6.3% 5.1% 35.2% 6.6% 5.1% 10% 18.3% 16.2% 14.9% 15.8% 12.2% 13.4% 0% 2006 2011 2006 2011 2006 2011 2006 2011 LAC MX CC SA Deposits Borrowings Other Liabilities EquitySeptember 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 14. Risk and Profitability by Sub-regions PAR > 30 days and Return on Assets ratios trends in 48 MFI from LAC 12% PAR > 30 days ROA 10% 8.6% 8% 6.0% 6% 3.7% 4% 4.7% 2.7% 2% 2.1% 2.3% 0.2% 0% -2% 06 07 08 09 10 11 06 07 08 09 10 11 06 07 08 09 10 11 06 07 08 09 10 11 LAC MX CC SA • The region showed a fall in delinquency levels over the past two years, together with a slight increase in returns. • South America followed the regional trend. In Mexico the results were distinct from the rest of the region (greater risk, lower profitability). In Central America the level of risk fell, though it remained above 8%, together with a fall in returns.September 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 15. Risk and Profitability in Three Countries PAR > 30 days and Return on Assets ratios trends in 3 countries from LAC 8% PAR > 30 days ROA 7% 6% 5.6% 5% 4% 3.2% 3% 1.9% 2% 1.7% 1.6% 1% 0.9% 0% -1% 06 07 08 09 10 11 06 07 08 09 10 11 06 07 08 09 10 11 BOL ECU PER • Bolivia showed the lowest level of portfolio at risk (1.0%) and a yield doubles that of the previous measurement (2.0%). • Peru showed the highest level of risk compared to its peers, though its yield was also higher. • Ecuador showed a favorable trend in both indicators over the last two years, which converged at around 1.5%.September 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 16. Final Comments • In the region a greater advance was seen in the credit portfolio compared to the previous year, though growth remains mixed when analyzed by sub-regions. South America showed better results comparison with other sub-regions. • In Mexico intense growth in competition has been observed, leading to market saturation, especially in the south of the country. Together with consumer credit, this has led to a slowdown in credit growth in the country. • In parallel, the slight improvement in levels of risk and profitability corresponded to the credit dynamics themselves, though differences were present at a sub-regional level: erratic in Mexico, still recovering in Central America and steadier in South America. • Of note is the deceleration experienced in deposits throughout the region. The effects of prioritizing recovery in the last few years appears to be reflected in this source of financing, which is consistent with the uptick in funds owed.September 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 17. Data Preparation MFI REPRESENTATION ON EACH COUNTRY BASED ON 2010 FIGURES OF MIX SAMPLE AND CREDIT TYPE (US$ Millions and Percentages) Num ber of MFI Gross Loan Portfolio (US$ Millions) Credit Types 1/ Countries Micro Consum pti Report MIX Coverage Report MIX Coverage Enterprise on 2/ Bolivia 6 24 25% 1,773 2,280 78% 80% 15% Colombia 3 29 10% 2,934 4,396 67% 42% 45% Ecuador 6 42 14% 874 1,652 53% 70% 18% El Salvador 3 14 21% 321 389 82% 78% 13% Honduras 6 19 32% 165 222 74% 78% 7% México 7 51 14% 1,388 1,858 75% 54% 40% Nicaragua 3 25 12% 115 300 38% 87% 8% Paraguay 4 6 67% 719 738 97% 56% 43% Perú 7 59 12% 3,876 7,001 55% 83% 22% Dominican Repúblic 2 11 18% 249 585 43% 70% 23% Venezuela 1 1 100% 74 75 100% 99% 1% Other 8 countries 3/ - 82 0% - 3,881 0% n/d n/d Total Region 48 363 13% 12,487 23,374 53% 67% 29% 1/ As percentage of the Gross loan portfolio on each 48 MFI included in this report. n/d: Not available 2/ Microenterprise and small business loans are included. 3/ It includes Argentina, Brazil, Chile, Costa Rica, Guatemala, Haiti, Panama and Uruguay. • Cut-off date: December 31 between 2006 and 2011, reclassified (without adjustments) according to MIX standards. • Data from 48 MFI participants (see list of MFIs in the appendix), was taken from public sources, provided by microfinance networks or the MFIs themselves. • Sources: MIX Market, banking and/or financial authorities of countries in the region whose MFIs are included, the MFIs themselves. • All the indicators correspond to consolidated figures for the 48 MFIs, except for the Return on Assets and the Portfolio at Risk over 30 days, which are median figures. • The data used can be found at the following webpage: http://www.themix.org/publications/mix-microfinance-world/2012/06/latin- american-and-caribbean-microfinance-market-trends-September 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 18. Glossary of Terms Definitions of types of credit used by MIX: • Commercial: Credits aimed at financing the production and marketing of goods and services in different phases. Normally aimed at corporations and large and medium enterprises. • Microenterprise: Credits aimed at financing the production and marketing of goods and services in on a small scale. May be granted to groups of borrowers backed by solid guarantees. • Consumer: Credits granted to individuals to finance the purchase of consumer goods or the payment of services not related to business use (not for commercial or enterprise purposes). • Housing (mortgage): Credits granted to individuals for the acquisition, construction, remodeling or improvement of housing, whether or not they are backed by a mortgage. Other definitions: • Borrowing: Balance of the principal of all the funds received by a financial institution on the basis of a loan agreement. • Gross loan portfolio: The sum of the principal balances of the credits received by clients. Includes credits due, in arrears and renegotiated, but not loan write-offs. Does not include accrued interest. • Net loan portfolio: The same as the Gross loan portfolio, minus the provisions for the potential risk of losses in credits granted due to defaults on payments.September 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 19. Participating Institutions INSTITUTIONS PARTICIPANTS IN LAC TRENDS 2006-2011 REPORT ACHRONYM NAME COUNTRY ACCOVI Asociación Cooperativa de Ahorro y Crédito Vicentina de R.L. El Salvador ADOPEM Asociación Dominicana para el Desarrollo de la Mujer Dominican Republic Apoyo Integral Apoyo Integral S.A. de C.V. El Salvador ASODENIC Asociación de Oportunidad y Desarrollo Económico de Nicaragua Nicaragua Banco ADEMI Banco de Ahorro y Crédito ADEMI Dominican Republic Banco Familiar Banco Familiar S.A Paraguay Banco FIE Banco para el Fomento a Iniciativas Economicas Bolivia Banco Solidario Banco Solidario S.A., Ecuador Ecuador BancoSol Banco Solidario S.A., Bolivia Bolivia BanCovelo Banco Popular Covelo Honduras BanGente Banco de La Gente Emprendedora Venezuela BCSC Banco Caja Social Colombia Colombia CAME Consejo de Asistencia al Microemprendedor, S.A. de C.V., SOFIPO Mexico CMAC Arequipa Caja Municipal de Ahorro y Crédito de Arequipa Peru CMAC Cusco Caja Municipal de Ahorro y Crédito de Cusco Peru CMAC Piura Caja Municipal de Ahorro y Crédito de Piura Peru CMAC Trujillo Caja Municipal de Ahorro y Crédito de Trujillo Peru COAC Jardín Azuayo Cooperativa de Ahorro y Crédito Jardín Azuayo Ltda. Ecuador CompartamosBanco Banco Compartamos S.A. Institución de Banca Múltiple Mexico Coop Jesús Nazareno Cooperativa Jesús Nazareno Ltda. Bolivia COOPROGRESO Cooperativa de Ahorro y Crédito Cooprogreso Ltda. Ecuador CRECER Crédito con Educación Rural Bolivia Crediscotia Crediscotia Financiera S.A. Peru D-Miro Fundación para el Desarrollo Microempresarial D-Miro EcuadorSeptember 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 20. Participating Institutions (cont.) INSTITUTIONS PARTICIPANTS IN LAC TRENDS 2006-2011 REPORT ACHRONYM NAME COUNTRY FIELCO Financiera El Comercio Paraguay Financiera Edyficar Financiera Edyficar S.A. Peru Financiera Fama Financiera Fama S.A. Nicaragua Financiera Independencia Financiera Independencia, S.A.B. de C.V. SOFOM E.N.R. Mexico FINCA - ECU Banco FINCA S.A., Ecuador Ecuador FINCA - HND Financiera FINCA Honduras S.A. Honduras FINCA - MEX Fundación Integral Comunitaria, A.C. - FINCA México Mexico FinComún Servicios Financieros Comunitarios, S.A. de C.V. SFP Mexico FINSOL Financiera Solidaria Honduras Honduras FMM Popayán Fundación Mundo Mujer Popayán Colombia Forjadores de Negocios Forjadores de Negocios, S. A. de C.V. SOFOM ENR Mexico FUNED Fundación para el Desarrollo de Honduras Honduras Interfisa Financiera Grupo Internacional de Finanzas S.A.E.C.A. Paraguay MiBanco MiBanco, Banco de la Microempresa S.A. Peru ODEF Financiera Organización de Desarollo Empresarial Femenino Financiera S.A. Honduras ProCredit - BOL Banco Los Andes ProCredit Bolivia ProCredit - ECU Banco ProCredit Ecuador (ex Sociedad Financiera Ecuatorial, SFE) Ecuador ProCredit - HND Banco ProCredit Honduras Honduras ProCredit - NIC Banco ProCredit Nicaragua Nicaragua ProCredit - SLV Banco ProCredit El Salvador El Salvador PRODEM FFP Fondo Financiero Privado PRODEM Bolivia Te Creemos Te Creemos, S.A. de C.V. SFP Mexico Visión Banco Visión Banco S.A.E.C.A. Paraguay WWB Cali Fundación WWB Colombia ColombiaSeptember 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 21. About FOMIN / IBD Through donations, loans and capital investments, FOMIN, a member of the IDB Group, supports the projects of private, and innovating that broaden access to basic services, finances, markets, skills and abilities for most of Latin America and the Caribbean. Founded in 1993, FOMIN is the largest source of donations in Latin America and the Caribbean, and focuses its activities principally on the development of micro, small and medium enterprises.September 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.
    • 22. Microfinance Information Exchange Central Office: 1901 Pennsylvania Ave., NW, Suite 307 Washington, D.C. 20006 USA Visit us on the Web: www.themix.org www.mixmarket.org Regional Offices: Baku, Azerbaijan Contact us: info@themix.org 44 J. Jabbarli st. Caspian Plaza I, 5th Floor, Baku, Azerbaijan Want to know more about MIX? Lima, Peru Subscribe and receive the latest news via Jirón León Velarde 333 Lince, Lima 14, Perú email! Rabat, Morocco Immeuble CDG Place Moulay Hassan BP 408 Rabat Morocco Find us on Facebook Follow us on Twitter: @mix_market Hyderabad, India Road #12, Landmark Building, 5th Floor, Banjara Hills, Hyderabad 500034, IndiaSeptember 23, 2011 información que esThis presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any y/o Esta presentación contiene propiedad del MIX, y todos los derechos están reservados por MIX. Cualquier difusión, distribución o copiado total parcial de esta presentación está permitida siempre y cuando se atribuya al autor y this presentation withoutcualquier otro caso está terminantementeprohibited. dissemination, distribution or copying of a los patrocinadores. En MIX’s prior written permission is strictly prohibido.