Time to pull money out of Prasac MFI??
Time to pull money out of Prasac MFI??
I read some news today which indicates that Prasac, the big microfinance institution in Cambodia, may be in less than ideal condition. Is it time to withdraw one's fixed term deposits from there? https://vodenglish.news/mfi-pressed-to- ... in-sector/
Don't think so.
Haven't looked for a while but their capital ratio was exceptionally good, way above what you'd expect from a money lender and so way above any mainstream Cambodian bank.
The biggest risk was that they haven't lent enough money.
Haven't looked for a while but their capital ratio was exceptionally good, way above what you'd expect from a money lender and so way above any mainstream Cambodian bank.
The biggest risk was that they haven't lent enough money.
Did you read the article? Lots and lots of small loan defaulters, and growing every day.....
I did.
I hope with a spread of 10% or more on their loans they will be ok.
The default rate is pretty small but will certainly not improve.
Cambodian banks have to lower deposit interest rates on usd to less than 1% and riel to less than 2%, at the begining of this pandemic.
The current interest rates are far to harsh for the economy.
Kookomin may have deep resources but it to could sink if this covid19 continues to depress economies.
The current interest rates are far to harsh for the economy.
Kookomin may have deep resources but it to could sink if this covid19 continues to depress economies.
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