Oikocredit Delivers Solid Financial Results
Oikocredit Delivers Solid Financial Results
PR56204
AMERSFOORT, The Netherlands, Mar. 19, 2014 /PRN=KYODO JBN/ --
Social investor and worldwide cooperative, Oikocredit, recorded another set
of solid results for the full year ended 31 December 2013.
Throughout the year, Oikocredit continued its strategic investments in
Africa, agriculture and inclusive finance, whilst looking to develop into other
sectors.
Net inflow of lendable funds reached a record of EUR 80 million, up 74%
from EUR 46 million in 2012.
Total investors grew to 52,000 from 48,000 in 2012, reaffirming the
worldwide support for social investing.
Oikocredit's operating revenue was up in 2013, however the net consolidated
result of EUR 13.4 million was down from 2012 due to a revaluation of the term
investment portfolio.
The result in 2012 had been boosted by gains in the term investment
portfolio and the sale of two equity holdings.
A proposed dividend of EUR 11.6 million will be paid to shareholders
following the annual general meeting in June 2014.
Oikocredit managing director, Mr David Woods, said he was pleased with
Oikocredit's 2013 financial results.
"Our overall result shows solid growth in our development financing
portfolio," said Mr Woods.
"In 2013, we increased our inflow of funds, loan approvals as well as
disbursements and improved the overall quality of the portfolio," added Mr
Woods.
The development financing portfolio grew to EUR 591 million, an increase of
11% from EUR 531 million in 2012.
Loan approvals reached EUR 297 million, up 27% from EUR 234 million in 2012
and disbursements increased 40% to EUR 306 million, up from EUR 218 million the
previous year.
Oikocredit increased total investments in equity, including commitments to
EUR 66 million, up 7% from EUR 62 million in 2012.
Throughout 2013, Oikocredit remained committed to improving its social
performance and support for partners through capacity building initiatives
which were conducted worldwide.
Throughout the year, Oikocredit provided EUR 3 million in capacity building
funds, approving over 130 support initiatives and strengthening its mentoring
programme.
In 2014, social performance will remain a priority, with a focus on
longer-term programmes for microfinance and agricultural value chains.
Mr Woods said Oikocredit is committed to growing a quality portfolio, with
a triple bottom line of social, environmental and financial returns.
"Going into 2014, we are well positioned to diversify our portfolio and
strengthen our investments in agriculture and renewable energy to grow in line
with our social mission," said Mr Woods.
Oikocredit is a worldwide cooperative and social investor, providing
funding to the microfinance sector, fair trade organizations, cooperatives and
small to medium enterprises.
SOURCE: Oikocredit International
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