PERFORMANCE INDICATORS
on life insurance policies, which are mandatory for unsecured microenterprise loans and are assessed at a rate of 28 basis points per peso lent, income from disposition of acquired assets, fee income from Banco Popular related to the ADEMI MasterCard, and income from grants. (While ADEMI charges up-front fees on loans, these are classified under interest income.) Since 1992 there has been only one year in which grants accounted for more than 1.2 percent of total revenue. While other noninterest income has grown slightly as a share of total income, rising to around nine percent by 1996, it has declined relative to total assets, from 4.2 percent in 1992 to 2.7 percent in 1996.
Sources and Further Reading Bartel, Margaret, Michael J. McCord, and Robin R. Bell. 1995. Financial Management Ratios I: Analyzing Profitability in Microcredit Programs. GEMINI Technical Note 7. Financial Assistance to Microenterprise Programs: Development Alternatives Inc. Washington, D.C.: USAID. Benjamin, McDonald, and Joanna Ledgerwood. 1998. “The Association for the Development of Microenterprises (ADEMI): ‘Democratising Credit’ in the Dominican Republic.” Case Study for the Sustainable Banking with the Poor Project, World Bank, Washington, D.C. Christen, Robert, Elisabeth Rhyne, Robert Vogel, and Cressida McKean. 1995. Maximizing the Outreach of Microenterprise Finance: An Analysis of Successful Microfinance Programs. Program and Operations Assessment Report 10. U.S. Agency for International Development, Washington, D.C. CGAP (Consultative Group to Assist the Poorest). 1997. Format for Appraisal of Micro-Finance Institutions. World Bank, Washington, D.C. Evans, AnnaCor. 1997. “PEARLS: A Tool for Financial Stabilization, Monitoring, and Evaluation.” NEXUS Newsletter 38. Small Enterprise Education and Promotion Network, New York. Koch, Timothy. 1992. Bank Management. 2d ed. Chicago: Dryden Press. Ledgerwood, Joanna. 1995. “Philippines Poverty Strategy Report: Access to Credit for the Poor.” World Bank, East Asia Country Department, Washington, D.C. Ledgerwood, Joanna. 1996. Financial Management Training for Microfinance Organizations: Finance Study Guide. New York: PACT Publications (for Calmeadow). Ledgerwood, Joanna, and Kerri Moloney. 1996. Financial Management Training for Microfinance Organizations:
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Accounting Study Guide. New York: PACT Publications (for Calmeadow). Paxton, Julia. 1997. “Guatemala CARE Village Banks Project.” Case Study for the Sustainable Banking with the Poor Project, World Bank, Washington, D.C. Paxton, Julia, and Carlos Cuevas. 1997. “Outreach and Sustainability of Member-Based Rural Financial Intermediaries.” Sustainable Banking with the Poor Project, World Bank, Washington, D.C. Paxton, Julia, and Cecile Fruman. 1998. “Outreach and Sustainability of Savings-First vs. Credit-First Financial Institutions: A Comparative Analysis of Eight Microfinance Institutions in Africa.” Sustainable Banking with the Poor Project, World Bank, Washington, D.C. Saltzman, Sonia B., Rachel Rock, and Darcy Salinger. 1998. Performance and Standards in Microfinance: ACCION’s Experience with the CAMEL Instrument. Discussion Document 7. Washington, D.C.: ACCION International. SEEP (Small Enterprise Education and Promotion) Network and Calmeadow. 1995. Financial Ratio Analysis of MicroFinance Institutions. New York: PACT Publications. Stearns, Katherine. 1991. The Hidden Beast: Delinquency in Microenterprise Programs. Washington, D.C.: ACCION International. Vogel, Robert C. 1988. “Measurement of Loan Repayment Performance: Basic Considerations and Major Issues.” World Bank, Economic Development Institute, Washington, D.C. Von Pischke, J.D. 1991. Finance at the Frontier: Debt Capacity and the Role of Credit in the Private Economy. Washington, D.C.: World Bank, Economic Development Institute. ———. 1994. “Measuring the Performance of Small Enterprise Lenders.” Paper prepared for a conference on Financial Services and the Poor, Brookings Institution, September 28–30, Washington, D.C. Waterfield, Charles, and Nick Ramsing. 1998. “Management Information Systems for Microfinance Institutions: A Handbook.” Prepared for the Consultative Group to Assist the Poorest by Deloitte Touche Tohmatsu International in association with MEDA Trade & Consulting and Shorebank Advisory Services, Washington, D.C. Yaron, Jacob. 1992a. Assessing Development Finance Institutions: A Public Interest Analysis. World Bank Discussion Paper 174. Washington, D.C. ———. 1992b. Successful Rural Finance Institutions. World Bank Discussion Paper 150. Washington, D.C. Yaron, Jacob, McDonald P. Benjamin Jr., and Gerda L. Piprek. 1997. Rural Finance: Issues, Design, and Best Practices. Environmentally and Socially Sustainable Development Studies and Monographs Series 14. Washington, D.C.: World Bank.