Letter from our managing director
Tuesday 24 March 2015 Dear valued stakeholders,
With 2015 well under way, it’s a good time to look back on our achievements in the year that’s passed, as well as look ahead to what this year will bring. At Oikocredit, our work is geared towards achieving a just society in which people are empowered to make the choices they need and create a life of dignity. With 2015 being our 40th anniversary year, we’re not only looking back at the impacts our investments have made over the years, but also looking ahead to what impact investing can accomplish in the future.
Solid results
After a solid year, investors will share in Oikocredit’s net consolidated results of € 17.1 million. I’m also pleased to report that our development financing portfolio increased by 24% to € 734.6 million. Approvals and disbursements also increased, and the overall quality of our portfolio improved, seeing us lower our overall risk profile. We also witnessed another record inflow of € 81.5 million in net lendable funds, which is testament to our strong and loyal investor base that has grown with us over our 40 years.
In 2014, we remained committed to improving social performance management and supporting partners through 189 capacity building engagements. Throughout the year we also grew our agriculture portfolio as well as igniting our new renewable energy financing unit. This strategic focus on inclusive finance, agriculture and renewable energy meets not only our social and financial goals, but our environmental ones as well.
What’s ahead for 2015?
In November this year our cooperative turns 40, an important milestone that we will celebrate with different events throughout the year. In addition, we have a number of exciting challenges and opportunities ahead of us. Thank you for your commitment and contribution to Oikocredit in 2014 and I look forward to the year ahead.
Kind regards,
David Woods
Managing director
