Thursday, February 10, 2011

RE: [Philippine-DEVFINANCE] PHILIPPINE COOPERATIVES STILL TOPS IN MICROFINANCE, PROVIDING EASY ACCESS TO LOANS IN 2010

Interesting articles. Can you please put them in a singular, weekly e-mail?  Otherwise I will be forced to unsubcribe from all. As interesting as they are, they are just too many independent e-mails.

Sincerely,
Brian


To: post@phildevfinance.posterous.com; vauzbij593@tumblr.com; nufo877wuna@post.wordpress.com; post@myclipps.posterous.com; jofo906nera@post.wordpress.com; philippines-devfinance@yahoogroups.com; carlosani1.jubi4033@blogger.com; execom@seedfinance.net
From: carlosani@seedfinance.net
Date: Tue, 8 Feb 2011 20:35:57 +0800
Subject: [Philippine-DEVFINANCE] PHILIPPINE COOPERATIVES STILL TOPS IN MICROFINANCE, PROVIDING EASY ACCESS TO LOANS IN 2010

 

Tuesday, February 8, 2011

PHILIPPINE COOPERATIVES STILL TOPS IN MICROFINANCE, PROVIDING EASY ACCESS TO LOANS IN 2010

There was this media release, "Bangko Sentral Makes Significant Strides Toward Building an Inclusive Financial System"
(visit http://www.bsp.gov.ph/publications/media.asp?id=2494).

This summarizes the efforts undertaken by the Bangko Sentral ng Pilipinas (BSP) to mainstream microfinance into the formal financial system. This means the BSP encouraging, providing the regulatory framework, creating the appropriate products, and practically holding hands with banks so that they may engage themselves in microfinance.

This is what the BSP means by building an "Inclusive Financial System," one "where there is greater access to much needed financial services to more Filipinos, especially those that are traditionally unserved or underserved."

Very pioneering. Very laudable, indeed.

And this "unserved" and "underserved", meaning those without having availed themselves of banking services (deposits, loan, etc.) still comprise some 37% of the municipalities of the Philippines.

The opportunities to reach out to this portion of the population are great, not only for banks, but also for such other microfinance players -among them the cooperatives and microfinance non-government organizations and private foundations.

In the abovementioned media release on BSP's efforts and accomplishments as of 2010, it was mentioned that "many banks have already demonstrated success in serving microfinance clients.

There are some 200 banks reportedly currently involved in microfinance, and are serving 883,863 clients with Php 6.4-billion loans outstanding and Php 3.0-billion in savings. This is a substantial accomplishment in itself.

But compared with the record of cooperatives alone, this looks small. Consider, for example, that as of June 22, 2010 (latest figures can be bigger) there is a total of 16,650 cooperatives which were registered/re-registered under R.A. 9520. This figure includes some 1,192 cooperatives organized between March 23, 2009 to June 22, 2010.

Total members of abovementioned cooperatives reached almost 7 million individuals (6.8 million). The combined assets of these cooperatives reached Pph 163-billion, consisting mainly of loans/loan receivables. The paid capitalization was something like Pph 34.2-billion. This does not include the savings deposits.

Likewise, this does not include the microfinance loans, assets or savings extended or generated by institutions other than cooperatives, like non-government organizations or foundations.

Cooperatives are still tops in microfinance. Maybe they also deserve corresponding or as much support and capacity-building assistance similar to what banks are getting from the government and private organizations. (END).





--
---------------------------------------------
CARLOS ANI - SEEDFINANCE Corporation - http://www.seedfinance.net
Email: carlosani@seedfinance.net
Landline: +63495010127 Cellphone: +639152919580
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com http://phildevfinance.wordpress.com
CONSULTING - http://www.carlosani.com
My Clippings - http://www.myclipps.posterous.com
------------------------------------------

__._,_.___
Recent Activity:
phildevfinance provides news about microfinance, SME banking, and cooperative development.  To join, send an email to philippines-devfinance-subscribe@yahoogroups.com .  To unsubscribe from this group, send an email to
philippines-devfinance-unsubscribe@yahoogroups.com


.

__,_._,___
Posted by at