ASA Bangladesh - Another major microcredit force

Besides Grameen and BRAC, ASA Bangladesh is another fast growing microcredit enterprise. From their website

Up to December 2005, ASA's Cumulative Loan Disbursement was Taka 148,197 million. Loans outstanding Taka 19,379 million among 4.18 million borrowers. At the end of 2005 ASA's Operational Self Sufficiency (OSS) is 275.24%, Financial Self-sufficiency 169.73% and rate of loan recovery 99.88%. Upto 2005 ASA operation expanded over 2,291 branches under 64 administrative areas all over in Bangladesh. ASA continues to perfect the role of financial intermediation by developing a variety of savings products that are quite successful at generating the necessary funds from local sources. ASA now offers customers liquid, semi-liquid and high return savings options that have attracted around Taka 3,036 millions.

ASA plans for 2006 to reach 2.741 Branches, 6.01 million borrowers with loan disbursement of Tk 45,183 and 6.88 million savings accounts by the year 2006 in Bangladesh alone, but also committed to sharing its successes in other countries. ASA is currently involved in several countries world-wide providing ASA experts to develop financial sectors elsewhere that are inclusive of low income groups. It will surely not be long before skeptics are convinced that a financial sector providing high quality products to all is achievable.