| Institution Type | Bank |
| Is this institution regulated? | Yes |
| Website address | N/A |
| Year established | 2011 |
| Head of Institution | Michael Barleon |
| Regions active | |
| # Branches | 1 |
| Total Portfolio (nat'l) | ZMK 4,225,572,000 |
| Total Portfolio (USD) | USD 816,535.65 |
| Active clients with loans | 738 |
| Approximate % female clients | 40% - 60% |
| Approximate % urban clients | 80% - 100% |
| Network affiliations | Bankers Association of Zambia |
| Funders | International Finance Corporation (IFC), European Investment Bank (EIB), Incofin, KfW |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AB Business Flexi | ZMK 1,000,000 - 5,000,000 | 3 - 20 | 40% - 60% | 40% - 60% | Business | Women, Men, Have business, Zambian Resident, At least 21 years | Credit Educ, Business Training | |||||||
| AB Business Plus | ZMK 5,000,001 - 15,000,000 | 3 - 20 | 40% - 60% | 40% - 60% | Business | Women, Men, Have business | Credit Educ, Group Mtgs |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AB Business Flexi | 72.0% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 79.3% - 81.7% | 79.3% - 81.7% | 89 | ||||||||
| AB Business Plus | 69.0% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 74.5% - 78.8% | 74.5% - 78.8% | 91 |
| Outstanding portfolio (INR) | INR 93,442,973 |
| Portfolio (USD) | USD 1,763,074.96 |
| Active Clients with Loans | 146,981 |
| Approximate % Female Clients | 100% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | x |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | Jagruthi- Client Education Series |
| Other (2) | Socio-Economic Development Workshop |
| No other services |
| Men | |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Household income <60,000 INR | x |
| Household income <120,000 INR | x |
| Must live in rural area | |
| Must lives in urban area | |
| Other | Member should have running IGL Pragati or IGL Pragati Plus or Water or Sanitation loan |
| Other (2) |
| # Regions for this institution | 3 |
| # Regions for this product | 3 |
| Regions Active | Karnataka, Maharashtra, Tamil Nadu |
| Currency | INR |
| Minimum loan size | INR 1,000 |
| Maximum loan size | 1,000 |
| Loans less than INR 5,000 | 100% |
| INR 5,000-15,000 | 0 |
| INR 15,000-25,000 | 0 |
| INR 25,000-35,000 | 0 |
| INR 35,000-45,000 | 0 |
| Greater than INR 45,000 | 0 |
| Shortest loan term | 2.6 months |
| Longest loan term | 2.8 months |
| Approx average | 2.6 months |
| Loans 3 months or less | 100% |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 0.2 months |
| Daily | |
| Weekly | x |
| Every 2 weeks | x |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 24.00% |
| Highest quoted nominal interest | 24.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | Yes |
| Percentage of fees | 12.4% |
| All or some fees taxed | Some |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | INR 1,000 | INR 1,000 | INR 1,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-01-29 | 2013-04-16 | 2013-04-16 | ||
| Loan Term (Months) | 2.6 months | 2.6 months | 2.1 months | ||
| Grace Period (Months) | 0.2 months | 0.2 months | 0.2 months | ||
| Total Cost of Credit | INR 41.24 | INR 41.24 | INR 41.24 | ||
| True Price by Comp | |||||
| Interest price component | 24.5% | 24.5% | 34.0% | ||
| Fee Component | 8.4% | 8.4% | 11.6% | ||
| Insurance Component | 0.0% | 0.0% | 0.0% | ||
| Tax Component | 1.0% | 1.0% | 1.5% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 33.9% | 33.9% | 47.1% | ||
| MFIN MFI Earning (Annualised) | 32.9% | 32.9% | 45.6% | ||
| MFIN Cost to Borrower (Annualised) | 33.9% | 33.9% | 47.1% | ||
| Transparency Index | 71 | 71 | 51 | ||
| MFIN Transparency Index | 98 | 98 | 71 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Key Statistics | |
|---|---|
| # Samples: | |
| # Products | |
| # Institutions | |
| # Countries | |
| # Borrowers | |
| Loan Portfolio (USD) | |
| % Products using declining balance | |
| % Products with one or more fee | |
| % Products with one or more insurances | |
| % Products with compulsory deposits |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
|---|---|---|---|---|---|---|---|
| X Axis | ||||||
|---|---|---|---|---|---|---|
| Greater than: | ||||||
| Less or equal to: | ||||||
| N (# of Samples) | ||||||
| Total Borrrowers of Samples | ||||||
| Avg | ||||||
| Min | ||||||
| Max | ||||||
| Std Dev | ||||||
| By Inst Type | ||||||
| By Country | ||||||
| X Axis | ||||||
|---|---|---|---|---|---|---|
| Greater than: | ||||||
| Less or equal to: | ||||||
| From 0 to | ||||||
| to | ||||||
| to | ||||||
| to ∞ | ||||||
