On 1st January 2014, when SafeSave became a Project of BRAC, it was working in eight branches serving approximately 19,000 clients in the slums of Dhaka. Clients held $1,094,000 in their savings accounts ($1 = 78 taka). The average savings balance was $57 and is growing, in part because of the popularity of the long-term savings account. The total savings portfolio had surpassed the total loan portfolio value for the first time in March 2010.

9,559 of the clients (a little over half) hold loans which are worth a total of $738,000, or an average outstanding balance of $77 per borrower.  

In its 17 years of operation SafeSave has lent and recovered more than $8 million, with a recovery rate exceeding 97%. Clients have deposited more than $5m of savings in that time.

Each month 81 SafeSave collectors, all of them women from low income neighbourhoods, process between 100,000 and 150,000 small transactions on handheld devices.  

SafeSave has been financially sustainable since 2004, when it stopped accepting donor grants, and began borrowing at commercial rates to finance growth.  Those loans have now been fully repaid, and SafeSave is generating surplus capital which it invests in fixed deposits at scheduled banks. Reserves exceed 50%.  

SafeSave’s annual return on assets is approximately 4.5%, and return on equity approximately 16%.


At the foot of this page you can download the 2011 Annual Report which includes the formal end-June 2011 Audit Report, and the end-June 2012 Audit Report











For a more detailed update please go to the 'current status' page
Č
Ċ
ď
Stuart Rutherford,
Sep 24, 2012, 11:24 PM
Ċ
ď
Stuart Rutherford,
Feb 11, 2012, 11:24 PM
Comments