National bank of Ethiopia (NBE) disclosed microfinance institutions (MFIs) across the country disbursed 26.6 billion Birr loan in the last fiscal year. The loans were given through 35 MFIs.

Compared to the last fiscal year’s same period, the performance shows 15.3 percent increase. MFIs improvements in aggregate saving, asset and capita had reached 22.7 billion Br, 43 billion Br and 9.9 billion Br, respectively.

The MFIs also saw 1.3 billion Birr profit by the end of the year, despite their non-performing loans reached 5.8 percent – which bypassed the anticipated 5 percent ceiling.

Commercial banks’ non-performing loans are mere 3.02 percent. And the difference were because of the drought conditions and the unrests in different parts of the country, according to the a report by NBE.

Source: Fortune