Hayman Microfinance raises MMK 10 Billion Debt Capital from AGD Bank to accelerate its Operations

Hayman Microfinance raises MMK 10 Billion Debt Capital from AGD Bank to accelerate its Operations

24th Oct 2019, Yangon.

Hayman Capital Co., Ltd (Microfinance Institution) has signed a new loan facility of MMK 10 Billion 3-year term loan with Asian Green Development (AGD) Bank Ltd. All regulatory approvals from the Financial Regulatory Department of the Ministry of Planning and Finance have been received.

The received fund of MMK 10 Billion, equivalent of US$ 6 Million is to be disbursed to serve and support the economic growth of over 28,000 clients in 19 Townships located across Yangon, Ayawaddy, Bago and Mandalay Regions. The funds will also be used to accelerate operations in new branches in Nay Pyi Taw, Sagaing and Magway Regions. 

“It is a great pleasure to start cooperation with AGD Bank which is one of most dynamic banks in Myanmar. The loan bank offered is the first debt raised locally and the total amount of the loan is biggest we borrowed so far. We are grateful for their intention to extend a hand in our efforts on delivering the demand-driven financing to the rural and underbanked population of Myanmar and female-led businesses to help them grow” – Mr. Sultan Marenov, Chairman of the Board of Directors of Hayman Capital Co., Ltd.

U Pyi Soe Htin, Chief Business Officer, AGD Bank Ltd, says “We are pleased to be working with Hayman Capital Co. Ltd on the signing of this term-loan finance agreement to support economic growth in Myanmar. AGD Bank’s vision is to provide to provide vitally important banking infrastructure to make a lasting impact on the future businesses in Myanmar and this agreement will make a big impact on those that need it the most.” 
 
Hayman Capital Co., Ltd has seen a rapid geographical, clientele and loan portfolio expansion in the financial services industry over the four years in Myanmar. With over 120,000 Active Clients, Loan Portfolio of US$20 million, Total Assets of US$ 22.75 million and Equity over US$ 11 million, Hayman is a Top-10 MFI in Myanmar in terms of paid-up capital.

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Updated: 16. 11. 2019