Board member Stacie Dee Schrader has been appointed Forus Bank management board chairman, the lending institution reported.
Since the early 1990s Dee Schrader has engaged in developing microlending in Russia, managing partnership programs carried out by Opportunity International and fund Fora. Later she was one of the first who came out with an initiative to set up Forus Bank and since 2005 has been constantly involved in coordinating the bank’s activities as a board member.
Forus Bank is a small regional bank specialized in household and SME lending. The Bank was registered in June 2005, and at that time the bank’s shareholder was Fund FORA, a Russian microfinance institution established in 2000 by international public corporation Opportunity International. Currently, 100% of the bank’s shares are in the hands of NOA (former Opportunity Albania Sh.A.). Its beneficial owners are reported to be Balkan Financial Sector Equity Fund C. V. and Creation Investments Social Ventures Fund I, whose fund units “trade on the open market among an indefinite circle of investors”.
Based on Banki.ru data, as of September 1, 2011 the lender’s net assets stood at Rub 2.27 bln (No. 513 in Russia), capital (calculated in line with CBR requirements) totaled Rub 390 mln, the credit portfolio amounted to Rub 1.85 bln and obligations to households equaled Rub 530 mln.
