Mutually Reinforcing Cycle

Page 1

Figure 1: Mutually Reinforcing Cycle of Growth Followed By Some MFIs Much Higher Valuations and Tapping of Primary and Secondary Markets at A Premium

Much Greater Returns and Higher Profits

Turbo Charged Growth

More Multiple Lending, Over Lending and Ghost Lending

Faster Growth

Higher Profits

Higher Valuations and Larger Equity Investments

Demand for Faster Growth and Greater Profits


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.