Social Impact Investing

Impact Investments:
An emerging asset class
Global Research
29 November 2010
Microfinance
The underlying data used in our microfinance market sizing is presented in Table 33.
Table 33: Country data on microfinance institutions
Total assets, deposits and market opportunity shown in USD mm; Penetration rates are calculated as # of borrowers divided by # of adults.
Total
Assets Deposits Penetration
Market
Opportunity
Total
Assets Deposits Penetration
Market
Opportunity
Country USD mm USD mm USD mm Country USD mm USD mm USD mm
Afghanistan 255 67 2% 652Madagascar 58 19 0% 656
Albania 500 290 11% 285Malawi 53 26 2% 74
Angola 10 2 0% 837Malaysia 232 38 7% 1,879
Argentina 30 0 0% 2,214Mali 175 75 3% 175
Armenia 676 150 17% -Mexico 3,098 1,333 24% 988
Azerbaijan 1,036 284 8% 535Moldova 124 14 1% 1,247
Bangladesh 3,020 1,443 28% -Mongolia 832 599 42% -
Benin 176 89 5% 196Montenegro 230 126 29% 6
Bolivia 2,011 1,204 13% -Morocco 845 - 21% 565
Bosnia and Herzegovina 1,159 238 60% -Mozambique 64 50 1% 225
Brazil 680 173 2% 7,548Nepal 154 39 7% 212
Bulgaria 798 505 7% 1,827Nicaragua 677 119 18% -
Burkina Faso 156 107 2% 215Niger 21 5 1% 97
Burundi 3 1 0% 59Nigeria 104 38 1% 1,494
Cambodia 1,023 493 21% -Pakistan 338 53 2% 2,137
Cameroon 360 287 3% 321Palestine 157 72 2% 548
Central African Republic 9 8 0% 67Panama 20 4 1% 282
Chad 10 5 0% 133Papua New Guinea 31 23 0% 339
Chile 911 315 7% 2,972Paraguay 449 315 24% 34
China 33 2 0% 64,018Peru 4,948 2,748 18% -
Colombia 4,166 2,636 7% 721Philippines 766 388 11% 515
Congo, DR 9 8 0% 54Poland 58 - 0% 9,746
Congo 123 51 0% 3,412Romania 520 210 1% 7,840
Costa Rica 69 0 2% 903Russian Federation 2,750 1,357 1% 62,874
Cote D'Ivoire 177 164 1% 309Rwanda 25 8 1% 148
Dominican R. 239 85 4% 364Samoa 1 0 7% 1
East Timor 4 1 3% 10Senegal 378 200 5% 357
Ecuador 1,511 671 11% 176Serbia 1,211 534 9% 1,415
Egypt 275 1 7% 1,346Sierra Leone 14 4 1% 100
El Salvador 469 211 8% 215South Africa 515 155 5% 1,211
Ethiopia 535 173 5% 457Sri Lanka 381 259 22% 50
Gambia, The 7 5 2% 6Sudan 11 0 0% 1,151
Georgia 524 192 6% 403Swaziland 34 - 1% 358
Ghana 210 127 5% 226Syria 18 0 0% 1,289
Guatemala 187 2 4% 329Tajikistan 429 179 3% 488
Guinea 22 8 2% 71Tanzania 1,166 963 2% 1,464
Haiti 71 13 2% 225Thailand 1 - 0% 1,096
Honduras 285 46 5% 291Togo 123 95 3% 84
India 2,684 92 5% 8,707Trinidad and Tobago 5 - 0% 358
Indonesia 110 47 13% 140Tunisia 37 - 12% 245
Jordan 136 0 17% 231Turkey 5 0 0% 1,465
Kazakhstan 179 - 3% 2,948Uganda 325 207 3% 443
Kenya 1,512 880 6% 574Ukraine 418 175 1% 14,736
Kosovo 1,020 796 19% -Uruguay 3 - 0% 923
Kyrgyzstan 383 112 11% 95Uzbekistan 194 56 1% 3,655
Laos 15 2 0% 939Venezuela 174 102 0% 2,364
Lebanon 25 - 3% 274Vietnam 3,187 1,015 28% -
Liberia 1 0 1% 15Yemen 4 0 0% 182
Macedonia, FYR 324 193 11% 243Zambia 8 1 0% 206
Source: MIX Market, J.P. Morgan. Penetration rates are calculated by MIX who cite that the number of poor people is determined using national poverty rates.
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