CARD, Inc. gets global grade “A” in Planet Rating among MFIs in 2014

After three times of being rated by Planet Rating, the Center for Agriculture and Rural Development (CARD), Inc. received its highest rating of “A” for the year 2014. At the same time, this rating is the highest ever given by Planet Rating among the Microfinance Institutions (MFIs) worldwide they have rated.

Planet Rating, based in Paris, France, is a specialized microfinance rating agency offering evaluation and rating services to microfinance institutions (MFIs). It uses the Smart GIRAFE and the Social Performance methodologies. The evaluation used measures governance, information, risk management, asset quality, funding and liquidity, efficiency and profitability and client protection.

According to the Planet Rating scale, “A” grade indicates that CARD, Inc.’s current institutional, operational and financial performance is excellent compared to the industry standards. It also highlights the sound performance of the institution in terms of good asset optimization, excellent portfolio quality and a low funding cost. The institution also has a good level of compliance with client protection principles.

“CARD is very pleased with this year’s grade. For the past 28 years of providing financial and non-financial services to socially-and-economically challenged women and their families nationwide, we have proven to ourselves that we can do more not just as a microfinance institution but as a social development organization. Rest assured that we will continue to be at our best as we serve the poor,” shared by Elma B. Valenzuela, Executive Director of CARD, Inc.

In an email, Antoine Navarro, Senior Analyst of Planet Rating, congratulated CARD, Inc. for the exceptional performance and for increasing its rating from “A-“ in 2012 to “A” in 2014.

“With the given rating, we are very much excited on what more we can do in the coming years. CARD MRI will remain rooted to its goal of poverty eradication,” said Dr. Jaime Aristotle B. Alip, Founder and Managing Director of CARD Mutually Reinforcing Institutions (CARD MRI). CARD MRI is a group of institutions with a common goal of eradicating poverty in the Philippines where CARD, Inc. is the first institution established.