Aga Khan Agency for Microfinance

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Key Figures

During 2007, AKAM continued to expand its microcredit activity, which grew by 61% in value and 67% in number and surpassed US$ 110 million. Its affiliates maintained their focus on servicing the poor excluded from the traditional financial sector, as the average disbursed loan size diminished by 5% while the overall percentage of women borrowers decreased slightly.

With accelerated growth and unstable climatic and political conditions in several countries, the portfolio at risk ratio was a strong 1.7% at year end, demonstrating the resilience of the loan books in the field institutions.

The aggressive development plan required a staff growth of 71%, while the average productivity of the loan officers remained stable due to the concomitant growth and expansion of the branch network. The improvement of lending procedures and implementation of new technologies will enable a progressive increase in loan officer productivity.

The FMFBs in Afghanistan, Pakistan and Tajikistan continued to attract deposits from their customers, which grew by 106% in 2007, demonstrating the increasing confidence placed in these institutions. AKAM’s strategy is to develop its deposit services across its network and seek adequate licensing for the affiliates currently not entitled to accept funds from the general public.