Berendina Micro Investments opens branch in Horowpathana

Berendina Micro Investments Ltd opened its first branch in Horowapathana in the Anuradhapura district recently.

Berendina Micro Investments Ltd was set up to extend the microfinance services of the Berendina Group which was done under the Berendina Microfinance Institute (BMI) (Gte) Limited, which has been in Sri Lanka since 2007 and has been assisting the rural poor and plantation communities with micro credit and enterprise development services through a 18-branch network covering six districts.

The Horowpathana branch will be the Berendina group's fifth microfinance branch in the Anuradhapura district. Currently, BMI operates branches in the Manupa (Anuradhapura town), Ipalogama, Kahatagasdigiliya and Thirappane areas of the district.

In 2015, as part of a strategic decision, the Berendina group formed a new organisation - Berendina Micro Investments Ltd, which functions parallel to BMI. All services provided by BMI will be continued with Berendina Micro Investments and an increase in service quality is envisaged with this strategic change.

As of February 28, Berendina's microfinance operations consisted of 69,433 borrowers with an outstanding loan portfolio of over Rs. 1.5 billion. Berendina provides loans at low interest rates.