Agora Microfinance’s portfolio registers strong results for 2018
Agora’s three MFIs in Cambodia, Zambia and India all showed strong results for 2018. Cumulatively, the 3 MFIs handle almost 1.2 million clients accounts through loans, deposits, insurance, remittances and bill payment products.
During the year, Agora diluted its stake in Cambodia to allow for the Shanghai Commercial and Savings Bank to take over as the principal shareholder of AMK MFI Plc. As at the end of the year, AMK reached all parts of the country with around 360,000 loan accounts, 400,000 deposit accounts, and another 285,000 micro-insurance policies. In addition it processes hundreds of thousands of money transfer, bill payments and salary accounts as well. AMK finished 2018 with a strong Return on Equity of 15.3% and an impeccable loan book with PAR30 of 1.09%.
Agora’s subsidiary in Zambia continued its strong march towards operational stability, scale and diversification. AMZ finished the year with 25,000 loan clients and had expanded its reach to 8 branches in the country. During the year it piloted/added micro-insurance and money transfer services to its product/service offer. It finished the year with a strong Return on Equity of 18% and PAR30 of 1.3%.
Agora Microfinance India Limited, Agora’s affiliate working in the Mumbai slums, also increased its presence during the year and recovered fully from the impact of demonetization from the year before. As at end 2018, it worked with 20,000 loan clients and a loan portfolio of approx. USD 5 million. Its YTD Return on Equity was trending at 4% (financial year April-March) and its PAR30 was 2.0%.
Altogether, 2018 was an excellent year for the Agora Group, and we look forward to our further development during 2019.