Microserfin continues to be the only Panamanian institution in the annual ranking of the most important microfinance Institutions (MFI) in Latin America and the Caribbean: “Microfinance Americas: the top 100 in 2013”.
In this edition, Microserfin continues to appear for the second consecutive year in the top 100 –this time ranked 42nd– thanks to its significant commitment to social development in Panama. In 2012, Microserfin was number 77 in the ranking.
This ranking is compiled by the Multilateral Investment Fund (FOMIN), a member of the Inter-American Development Bank (BID) and the Microfinance Information Exchange, Inc. (MIX) and evaluates the skill, efficiency and transparency of microfinance institutions that have shown positive profitability in the previous year and a minimum of 5,000 active loans at the close of the financial year.
In the last two years Microserfin has continued to be the only microfinance institution in Panama appearing in the top 100, and this is due to its unshakeable commitment to promoting sustainable and inclusive economic and social development for disadvantaged sectors of the population in Panama.
Microserfin currently serves over 13,000 entrepreneurs, of which 45% are women, and has made loans for a value of $16 million for the development of productive activities, with an average loan of around $1,200.
This year the sample for the ranking consisted of 225 microfinance institutions in Latin America and the Caribbean, whose performance information at the close of the 2012 financial year was compiled and analyzed by specialists in the area, backed by auditors, public regulatory bodies, microfinance networks, risk rating agencies and other independent sources.
This year saw a 41% rise in the institutions in Central America and the Caribbean placed in the Top100, with 24 of the institutions selected belonging to the Caribbean.