Financial performance and Outreach: A Global Analysis of Leading Microbanks
利用49个国家124家小额信贷机构的高质量数据，分析盈利、还款和成本降低的模式，发现服务穷人时盈利与覆盖最贫困群体之间存在权衡。
Microfinance promises to reduce poverty by employing profit-making banking practices in low-income communities. Many microfinance institutions have secured high loan repayment rates but, so far, relatively few earn profits. We examine why this promise remains unmet. We explore patterns of profitability, loan repayment, and cost reduction with unusually high-quality data on 124 institutions in 49 countries. The evidence shows the possibility of earning profits while serving the poor, but a trade-off emerges between profitability and serving the poorest. Raising fees to very high levels does not ensure greater profitability and the benefits of cost-cutting diminish when serving better-off customers. Copyright 2007 The Author(s). Journal compilation Royal Economic Society 2007.