WWB is proud to note that ten of its network members have been named to Forbes' first-ever list of the world's top 50 MFIs.

The list, chosen from a field of 641 reporting microfinance providers, was prepared by the Microfinance Information Exchange under the direction of Forbes magazine. To qualify, the institutions must have made available their audited financials and must have passed review by a Forbes panel of advisers, who examined six key variables: gross loan portfolio, operating expenses, operating expenses divided by the average number of active borrowers as a percentage of gross national income per capita, outstanding balance of loans overdue by more than 30 days as a percent of gross loan portfolio, return on assets and return on equity.

Each microfinance institution earned scores in four equally weighted categories -- scale, efficiency, portfolio risk and profitability. Rankings were then based on the combined average score of those four categories. Women's World Banking proudly salutes its network members that made the Forbes list.

They are:

Rank	Name	Country	Scale	Efficiency	Risk	Returns
1	ASA	Bangladesh	14	83	56	40
4	Fundación Mundial de la Mujer Bucaramanga	Colombia	58	72	193	1
8	Association Al Amana	Morocco	17	212	133	1
9	Fundación Mundo Mujer Popayán	Colombia	53	181	141	1
10	Fundación WWB Colombia - Cali	Colombia	27	206	155	4
32	MI-BOSPO	Bosnia and Herzegovina	128	120	283	1
34	Kashf Foundation	Pakistan	123	194	219	1
35	Shakti Foundation for Disadvantaged Women	Bangladesh	170	221	151	1
36	Enda Inter-Arabe	Tunisia	198	90	257	1
41	Caja Municipal de Ahorro y Crédito de Arequipa	Peru	23	126	220	215

Forbes notes that its rankings attempt to measure financial performance, not the social benefits of any microfinance institution.

Read the full Forbes article and the full list of Forbes' Top Microfinance Institutions.

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