The annual ranking of the leading Microfinance Institutions (MFI) in Latin America and the Caribbean –”Microfinance Americas: The Top 100 for 2014″– compiled by Mix Market and FOMIN, has just been published. This year the sample comprised of 229 MFI, and analyzed the information on their performance on the closing of year 2013.
In this edition Microserfin features in the Top 100 for the third year running, this time in 78th place, thus becoming a regular fixture in the ranking thanks to its outstanding work towards social development in Panama.
Microserfin is an institution that is fully committed to its mission of improving the quality of life of low-income entrepreneurs and their families by generating opportunities for sustainable social and inclusive development through productive finance. It has been the only Panamanian institution to appear in the rankings since 2012.
The Microfinance institutions (MFI) of Latin America and the Caribbean: “Microfinance Americas: The Top 100 for 2014” 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.
This year the sample consisted of 229 microfinance institutions in Latin America and the Caribbean. Information on their performance up to the close of the 2013 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.
Microserfin currently serves over 15,000 entrepreneurs, of whom 45% are women, and has granted loans for a value of $17 million for the development of productive activities, with an average loan of around $1,200.