Grameen microfinance update

In an interesting article and podcast published at Knowledge@Australian School of Business the future of the Bangladesh Grameen Bank is discussed following the removal of its Nobel Prize winning managing director and founder Muhammad Yunus.

” With more than eight million customers, Grameen has indeed flourished. The bank has lent $10.3 billion since it began operations in 1976 and has a loan recovery rate of around 97%. It has doubled the number of its offices over the past 10 years to more than 2,900 and employees to some 23,000, including more than 13,000 loan officers, nearly all women. The average loan balance per borrower is $123, with the cost per borrower over the years hovering between $8 and $13 annually. As of 2009, Grameen had $1.5 billion of assets and a return on equity of 5.64%.”

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