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Last update: January 2007
Background
Buro emerged in 1989 to serve the rural district of Tangail with micro-finance services, while wanting to achieve financial sustainability and independence.
Structure & Activities
It differentiates from Grameen Bank – the inevitable reference in the country – in that it focuses more on the savings than on the credit side (only half of its clients in 1997 had taken a loan). Believing that flexibility and convenience (in the access to deposits and in the terms of loans) is a key factor to serve the poor and their unpredictable lives, Buro is trying to extend as wide as possible the scope of its financial services both on the deposit and on the credit side.
It has for instance, contrary to other MFIs, few restrictions on the access to deposits: the only limitation, which is not to have an outstanding loan, should be removed during 1998.
The branch offices at different locations play the most central role to implement different programs of BURO. Each branch comprises of 1 manager, 1 accountant, 1 organiser, 1 assistant accountant, and 6-7 village development workers (VDW). The VDW's remain in the closest proximity of the customers of the organisation where each branch covers 60-75 kendras, with customers ranging from 2,000-2,500 over 50-70 villages in 2-4 unions.
New Developments Planned
Buro is now recognised as one of the major financial innovators on the micro-finance market. Buro has drawn up a business plan for the period 2003-7. To support the business plan a new strategic planning exercise has been accomplished to cope with the evolving needs of the customers in the microfinance markets. The main feature of this plan is rapid expansion of programs. Under this plan, Buro envisages to open 44 new branches (leading the total to 100 branches), raise our new clients to 100,000 (making the total to 200,000).
Key Figures
in Taka* |
2005 | 2004 | 2003 | 2002 |
| Members' savings and other deposit | 492,435,379 | 331,342,794 | 244,042,849 | 167,265,482 |
| Loan portfolio (net of loan loss reserve) | 1 143,721,526 | 739,782,407 | 536,696,260 | 385,725,385 |
| Total balance sheet | 1 317,842,959 | 901,743,376 | 667,732,952 | 486,790,939 |
| Number of members (customers) | 273 286 | 221 366 | 184 609 | 124,446 |
| Staff | 1 265 | 1 071 | 1 020 | 778 |
| Profit Net | 111 658 516 | 87 106 759 |
in Taka * |
2005 | 2004 | 2003 | 2002 |
| Capital Funds financed by: | ||||
| Revolving Loan Funds (grants) | 138,815,884 | 138,815,884 | 138,815,884 | 137,168,172 |
| Disaster Fund (grants) | 43,198,689 | 42,015,034 | 39,117,387 | 36,730,478 |
| Borrowing from SDC (Swiss Agency for Development and Co-operation) | 20,172,124 | 40,344,246 | 60,516,368 | 60,516,368 |
| Borrowing from Sonali Bank | 183,875,000 | 55,000,000 | - | 5,000,000 |
| Borrowing from Stromme foundation | 80,506,250 | 43,431,250 | 14,000,000 | - |
| Members' contractual savings | 306,523,299 | 201,789,670 | 140,135,428 | 86,546,943 |
| Members Emergency Fund | 9,555,184 | 9,561,453 | 14,066,905 | 28,978,049 |
31/12/2002: Taka 100 = Eur 1.705
31/12/2003: Taka 100 = Eur 1.398
31/12/2004: Taka 100 = Eur 1.26
31/12/2005: Taka 100 = Eur 1.16
