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