NewsMFR Confirms OBS’ Financial Rating Grade A and Stable Outlook
During the ongoing process of monitoring all the currently valid financial ratings, MFR (former Microfinanza Rating, a global rating agency specialized in inclusive finance) has confirmed Opportunity Bank’s financial rating grade A and Outlook Stable received in July 2019.
MFR has reviewed OBS’ latest financial statements as well as portfolio quality report with some additional information pointing to the sustainability of the Bank during and after the crises, and its team of analysts and the Rating Committee Unit has based their decision on these data.
The A rating places OBS in the top seven percent of MFR’s rated organizations. Results from the more than three-year-long analysis performed during 2019 show positive profitability, sustainability, operational efficiency, and staff productivity of Opportunity Bank Serbia (OBS). Combined with social rating A issued by MFR in 2018, this grade is a very good indicator of OBS’ double bottom line alignment, which is consistent with our social mission of financial inclusion.
The financial rating by MFR was carried in 2019 out under the EaSI Technical Assistance (EaSI TA) – a part of the first axis of the Employment and Social Innovation (EaSI) Programme which is an EU level financing instrument, funded by the European Commission. EaSI Technical Assistance is aimed at supporting public and private financial intermediaries from the microfinance sector in Europe with a wide range of activities aimed at increasing the quality of their internal processes, enhancing access to finance for vulnerable groups in particular, and creating a sustainable European microfinance ecosystem. The EaSI Technical Assistance services include tailored and investment readiness trainings, as well as trainings on the European Code of Good Conduct for Microcredit Provision, ratings, institutional assessments, etc.
Click HERE if you want to read the Executive Summary of the Financial Rating Report for Opportunity Bank Serbia.