MICRA Philippines is a consulting and advisory firm dedicated to strengthening microfinance in the Philippines. MICRA Philippines brings its clients the unique combination of deep local knowledge through our all-Filipino staff along with access to leading international microfinance experts, thanks to the resources of its founder, Mercy Corps. We work with financial service providers of all institutional types – rural banks, NGO microfinance institutions, commercial banks, cooperatives, and others. We provide these clients with a wide variety of high-impact services, delivered through a uniquely qualified staff who bring to their work a wealth of professional experiences gained in the banking sector, regulatory agencies, top research and ratings agencies, and a host of other relevant sectors.
MICRA Philippines’ ultimate aim is to expand access to high quality, high demand financial services for low-income families in the Philippines. We do this by working in close partnership with the institutions that serve these families in order to strengthen their performance and expand their outreach.
The need is considerable. Poverty estimates by the National Statistical Coordination Board (NSCB) in the year 2006 (most recent available) reveal that 28 million Filipinos or 32.9 percent of the population are considered poor.
Of the financial institutions that typically serve poor customers, there are approximately 180 rural banks, 1,120 cooperatives and about 300 microfinance NGOs with a combined outreach of 2.8 million people – only about 10 percent of the Filipinos living in poverty.
For microfinance providers to expand their poverty outreach while maintaining financial and institutional soundness, they must truly know this market. They must understand the financial behaviors and priority financial needs of poor customers. They must know how to design financial products that meet those needs, and they must know how to deliver those products in a cost-efficient, sustainable way – especially since many poor people live in isolated rural communities that cannot be affordably reached by conventional banking.
MICRA Philippines’ market sophistication combined with our deep commitment to the needs of poor Filipinos make us the ideal advisory partner for those institutions seeking to serve poor customers successfully.
