BRAC Bank in Bangladesh was founded in 2001. The bank focuses on small and medium-sized enterprises. Access to credit provision is often difficult or limited for this sector. To increase its capital, BRAC Bank has decided to issue a convertible subordinated bond in local currency. Triodos Fair Share Fund and Triodos Microfinance Fund, together with the Dutch development bank FMO and the Norwegian Norfund, are among the first foreign investors in the bond. Their investment will stimulate the development of small and medium-sized enterprises in Bangladesh.
KEY INDICATORS as of 31 December 2014:
- number of loan clients: 223,225
- percentage female clients: 18%
- percentage rural clients: 33%
- average loan amount: EUR 4,757
- number of savings clients: 652,031