Financial results for 2021: achievement and recovery
Oikocredit has today announced its financial results for 2021 and reports on a successful year of rebuilding and rebalancing after the disruption of the Covid-19 pandemic.
Results highlighted include a net profit of € 15.3 million, overturning the previous year’s net loss, and resumed growth of incoming capital, development financing and consolidated assets. As markets in the cooperative’s focus countries generally recovered, the results were in line with expectations and owed much to investors’ loyalty, staff commitment and partners’ resilience.
Oikocredit has enhanced its pioneering approach to social performance management and capacity building with an innovative client survey. It has also developed a new strategy for 2022-2026 that will include investing with partners in sectors such as housing, education, healthcare, and water and sanitation to help build low-income communities’ resilience. There will also be a move to a new capital-raising model.
Mirjam ‘t Lam, who succeeded Thos Gieskes as Managing Director in 2021, said: “This has been an important year for Oikocredit and for all who work with and for our cooperative. We aim to build on our solid achievements in 2021, stay at the forefront of innovation in development financing, and respond with agility to new opportunities and challenges while delivering impact for the people we serve.”
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