"Lending money to the world's poorest people? With no collateral? You must be out of your mind." That was the typical response Deutsche Bank's Asad Mahmood says he used to get when he tried to sell Wall Street on the concept of expanding microcredit in developing countries as a viable investment rather than charity work. But throw in a projected risk-adjusted return of 14%, and suddenly the Sheratons, ADPs and CalPERS of the world are more willing to consider what has long been the province of venture philanthropists and NGOs. As director of Deutsche Bank's Community Development Group, Mahmood is also...
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