NewsOPPORTUNITY BANK SERBIA RECEIVES STRONG FINANCIAL RATING FROM MFR
Opportunity Bank Serbia (OBS) has received a grade A financial rating from the MFR agency (formerly MicroFinanza Rating), a global rating agency specialized in inclusive finance.
A June 2019 report from MFR considered key categories, including external context, governance and strategy, financial profile, loan portfolio quality, and systems and controls. The A rating places OBS in the top seven percent of MFR’s rated organizations. Results from the more than three-year-long analysis show positive profitability, sustainability, operational efficiency, and staff productivity.
Vladimir Vukotić, Chief Executive Officer of Opportunity Bank Serbia said: “This is another important milestone for OBS as a proof of bank’s medium-term viability and creditworthiness, as well as our compliance with international standards and benchmarks. This rating and the accompanying report are not only useful to us in terms of our reputation, but we also plan on using it to further strengthen institutional governance and decision-making, risk management and other systems in the bank, as it contains useful insights and recommendations on how we can further improve our performance. Combined with our social rating A issued last year by MFR, 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 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.