MICROCREDIT www.microcredit.ge 2 wliuri angariSi 2013 / Annual Report 2013 direqtoris mimarTva -------------------------------- 4 saqarTvelo da safinanso seqtori ----------- 6 Cvens Sesaxeb -------------------------------------------------- 8 misia ------------------------------------------------------------ 10 korporatiuli faseulobebi ------------------- 12 organizaciuli struqtura ------------------------ 14 riskebis marTva ----------------------------------------- 16 filialebis qseli ------------------------------------ 18 produqtebi ------------------------------------------------ 22 trening centri ------------------------------------------- 28 klientebi ---------------------------------------------------- 30 safinanso angariSgeba -------------------------------- 32 s a rC e v i 3 sarCevi / Content The appeal of the Executive Director -------------------- 5 Georgia and its Financial Environement --------------- 7 About Us -------------------------------------------------------- 9 Mission --------------------------------------------------------- 11 Corporate Values -------------------------------------------- 13 Organizational Structure ----------------------------------- 15 Risk Management ------------------------------------------- 17 Branch Network --------------------------------------------- 19 Our Products -------------------------------------------------- 23 Training Center ---------------------------------------------- 29 Our Clients ---------------------------------------------------- 30 Financial Account -------------------------------------------- 33 C o n t e n t 4 aRmasrulebeli direqtoris, daviT nadareiSvilis mimarTva 2013 weli ss `mikrokreditisaTvis~ TvalsaCino zrdisa da miRwevebis wlad SeiZle- ba miviCnioT. am welma safuZveli daudo `mikrokredits~, rogorc konkurentunariani mikrosafinanso organizaciis Camoyalibebas sakredito sivrceSi. daiwyo fililebis qselis ganviTareba, Sesabamisi infrastruqturis Camoyalibeba, SemuSavda axali sakred- ito produqtebi. gasul welTan SedarebiT, TiTqmis 80 procentiT gaizarda klientebis raodenoba, sadReisod msesxebelTa raodenoba 5500-s aWarbebs, xolo Tamasuqis - ss `mikrokredi- tis~ mier emitirebuli fasiani qaRaldebis SemZeni pirebis ricxvi 440-s aRwevs, emitire- buli Tamasuqebis moculobam 2014 wlis martis bolosaTvis 12 milion lars gadaaWar- ba, rac kompaniis ndobis maRal doneze metyvelebs. mniSvnelovani iyo gasuli weli organizaciisaTvis socialuri pasuxismgeblobis amaRlebis TvalsazrisiTac. gatarda RonisZiebebi TanamSromelTa Semadgenlobis kidev ufro gaRrmavebisTvis socialuri pasuxismgeblobis mniSvnelobis aRqmisa da gaTavisebisTvis. Catarda samuSaoebi momxmareblis uflebebze zrunvis mimarTulebiT. organizaci- aSi Seiqmna jgufi, romelic axdens momsaxurebis xarisxis kontrolisa da momxmare- belTa uflebebis dacvis mudmiv monitorings. 2013 wels ss `mikrokreditis~ TanamSromelTa raodenoba, wina welTan SedarebiT, gaizarda 40 procentiT. Catarda treningebi da seminarebi TanamSromelTa profesiu- li kvalifikaciis asamaRleblad. 2013 wels gaixsna 2 axali filiali TbilisSi, xolo 2014 wlis pirvel kvartalSi axali filialebi kaxeTis regionis qalaqebSi, wnorsa da lagodexSi. aqtiurad amo- qmedda sasesxo programa, romlis saSualebiTac moqalaqeebi axdenen maTTvis araxel- sayreli Zviriani sesxebis gadmotanas kerZo gamsesxeblebisgan da usistemod momuSave safinanso kompaniebidan. intensiurad viTardeba sasoflo-sameurneo sesxebisa da regionuli biznes-sesxebis portfeli. es saSualebas aZlevs mcire mewarmeebs sxvadasxva regionebSi ganaviTaron sakuTari samewarmeo saqmianoba. 2014 weli aseve mniSvnelovani iqneba organizaciuli ganviTarebis TvalsazrisiT. `mikrokrediti~ orientirebulia siaxleebze, rac aucileblad aisaxeba sakredito produqtebze. minda didi madloba gadavuxado im aseulobiT adamians, vinc endo Cvens organiza- cias da daabanda sakuTari saxsrebi `mwvane TamasuqSi~. madlobas vuxdi Cvens aTasobiT klients, romelTac aRebuli aqvT sxvadasxva tipis sesxebi Cveni organizaciidan. mad- lobas vuxdi organizaciis TiToeul TanamSromels maT mier gamoCenili profe- sionalizmisa da gunduri suliskveTebisaTvis, im ZalisxmevisTvis, ramac organizaci- is aqtivebi gasul wels gaaormaga. warmatebebs vusurveb Cveni produqtebis momxmarebels, mjera, rom Cveni erTianoba momavalSi kidev ufro didi warmatebebis sawindari iqneba. wliuri angariSi 2013 / Annual Report 2013 5 direqtoris mimarTva / The Appeal of the Executive Director THE APPEAL OF THE EXECUTIVE DIRECTOR - DAVID NADAREISHVILI 2013 can be considered as the year of remarkable growth and achievements for JSC Mi- crocredit, it was the year that put foundation to Microcredit as a competitive micro-credit organization in a credit environment. It began development of the branch network and related infrastructure and new credit products were created. It is remarkable the signifcant growth of the number of customers by 80% compared to the last year. Nowadays, the number of borrowers exceeds 5500, purchasers of emitted prom- issory notes issued by JSC Microcredit reached 440 and the amount of emitted promissory notes exceeded 12 million GEL by the end of March 2014. It means that the company demon- strates a high degree of confdence from the customers. Past year was also important for the organization in terms of increasing its social responsi- bility. Important work was carried out in order to deepen perception and understanding of the importance of social responsibility among the employees. The works were also carried out in the direction of consumer rights. The organization has created a group that performs quality control service and constant monitoring of the consum- ers rights protection. In 2013 the number of employees of JSC microcredit has increased by 40% compared to the previous year. Trainings and seminars were organized for the employees to raise their professional qualifcation. 2 new branches were opened in 2013 in Tbilisi and two new branches in Tsnori and Lago- dekhi in the 1st quarter of 2014. A loan program has been launched actively that help citizens to bring their unfavorable expensive loans from private borrowers and from non-trusted fnan- cial companies. Agricultural and regional business loans portfolio is developing very intensively, which al- lows small entrepreneurs to develop their business activities in various regions. 2014 Year also will be important in terms of organizational development. JSC Microcredit is focused on innovations that will be refected in credit products. I want to wish good luck to our customers and I would like to thank those who trusted in our organization and were faithful. I believe that our assistance in the future will guarantee more and more success. I want to thank each and every member of our organization because of their outstanding professionalism and team spirit, for the efforts that led to double the organizations assets over the past year. 6 wliuri angariSi 2013 / Annual Report 2013 saqarTvelo da safinanso seqtori saqarTvelos gaaCnia metad xelsayreli adgilmdebareoba evropisa da aziis gzagasa- yarze. igi uzrunvelyofs amierkavkasiisa da kaspiis zRvis auzis qveynebis bazrebis efeqtur wvdomas. saqarTvelo aris metad xelsayreli saerTaSoriso kompaniebisaTvis maTi saTao ofisebis gasaxsnelad, saidanac xdeba maTi saqmianobis koordinireba amierkavkasiidan da kaspiis zRvis auzis qveynebSi. Qqveynis farTobi: 69 700 kv km; mosaxleoba: 4 490.5 aTasi kaci (2014 wlis 1 ianvris mdgomareobiT) dedaqalaqi: Tbilisi (mosaxleoba 1 175.2 aTasi kaci) mTliani Sida produqtis realuri zrda: 9.4% - 2006; 12.3% - 2007; 2.3% - 2008; 3.8% - 2009; 6.3% - 2010; 7.2% - 2011; 6.2% - 2012; 3.2% - 2013; mTliani Sida produqti erT sul mosaxleze: 1763.5 aSS dolari - 2006; 2314.6 aSS dolari - 2007; 2921.1 aSS dolari - 2008; 2455.2 aSS dolari - 2009; 2623.0 aSS dolari - 2010; 3230.7 aSS dolari - 2011; 3523.4 aSS dolari - 2012; 3596.6 aSS dolari - 2013; inflacia 2.0% - wliuri (2014 wlis ivnisi) SeiZleba iTqvas, rom saqarTveloSi sabanko biznesi warmoadgens erT-erT yvelaze war- matebul saqmianobas, 2013 wlis monacemebiT komerciuli bankebis Semosavlebi, 2012 welTan Se- darebiT, praqtikulad gaormagda da 275 milioni lari (164 milion dolarze meti) Seadgina. saqarTvelos sabanko seqtori 21 komerciuli bankiTaa warmodgenili. aRniSnul 21 banks Soris 18 - sawesdebo kapitalSi ucxouri kapitalis monawileobiT da 2 -ucxouri bankis filialiT. saqarTvelos komerciuli bankebis mTlianma sakredito portfelma 2013 wlis bolos- Tvis 10.5 miliard lars miaRwia (bankTaSorisi sesxebis gareSe). saerTo aqtivebma ki 2014 wlis ivnisis bolosTvis -17.3 mlrd lari Seadgina. xazgasasmelia, rom umsxvilesi aqtiveb- is mqone xuTi bankis (`saqarTvelos banki~, `Tibisi banki~, `banki respublika~, `prokredit ban- ki~, `viTibi banki~) wili sabanko seqtoris mTlian aqtivebSi 77.4 procents Seadgens. 2013 wlis bolosTvis mikrosafinanso segmentSi funqcionirebda 67 mikrosafinanso organizacia. 2012 wlis monacemebTan SedarebiT mTliani aqtivebis odenoba 20 procentiT gaizarda da 811.9 mln lari Seadgina. mateba Tanabarproporciulad ganxorcielda val- debulebebisa da kapitalis xarjze, romlebmac Sesabamisad 609.3 mln lari da 202.6 mln lari Seadgina. aqtivebis zrdis maCvenebeli miuxedavad imisa, rom arsebiTad CamorCeba wina wlebis saSualo monacemebs, mainc sakmaod maRalia. xazgasasmelia, rom ss `mikrokreditis~ aqtivebis moculoba 2013 wlis bolosTvis mikrosafinanso organizaciaTa mTliani aqtive- bis 1.35 procents Seadgens. 2013 wlis monacemebiT mikrosafinanso seqtoris mTlianma sakredito portfelma 620.3 milioni lari Seadgina. igi ZiriTadad warmodgenilia sami seqtoriT: 1. vaWroba da momsaxureba - 131.3 mln lari (portfelis 21.2%); 2. soflis meurneoba da metyeveoba - 145.9 mln lari (portfelis 23.5%); 3. samomxmareblo sesxi - 275.8 mln lari (portfelis 44.4%). mikrosafinanso seqtoris mTliani portfelis struqtura 7 GEORGIA AND ITS FINANCIAL ENVIRONMENT Georgia has a very favorable location at the crossroads of Europe and Asia, providing effec- tive market access to South Caucasian and Caspian Sea countries. Georgia is more favorable to international companies to open their head offces abroad, in order to coordinate their activ- ities throughout the South Caucasian and Caspian Sea littoral states. Country Area: 69 700 sq km Population: 4. 4905 thousand people (as of 1 January 2014) Capital: Tbilisi (population 1. 1752 thousand persons) Real GDP growth 9.4% -in 2006 12.3% -in 2007, 2.3% - in 2008, -3.8% -in 2009, 6.3% - in 2010, 7.2% - in 2011, 6.2% - in 2012, 3.2% - in2013 * Gross domestic product per capita-GDP 1763.5 USD -in 2006, 2314.6 USD -in 2007, 2921.1USD - 2008, 2455.2 USD in 2009, 2623.0 -in 2010, 3230.7 USD -in 2011, 3523.4USD -in 2012, 3596.6USD -in 2013. The annual infation-2% (June 2014) We can surely say that banking activity is one of the most successful business in Georgia according to 2013 data, the income of commercial banks practically was doubled compared to 2012 and reached to 275 million (more than 164 million dollars) respectively. The banking sector of Georgia is represented with 21 commercial banks. The 18 banks out of 21 are the banks with the participation of foreign capital in the share and 2 banks with foreign branches. The total credit portfolio of Georgian commercial banks by the end of 2013 reached to 10.5 billion GEL (excluding interbank loans). Total assets by the end of June 2014 amounted to 17.3 billion GEL. It should be emphasized that the fve banks with the largest assets (Georgian Bank, TBC Bank, Bank Republic, Pro-credit Bank, VTB Bank), share equals to77.4% in total assets of banking sector. By the end of 2013 there were functioning 67 microfnance organizations in the microf- nance segment. Compared to 2012 data the total amount of assets was increased by 20% and reached to 811.9 million GEL. The growth was proportionally implemented on behalf of liabilities and capital. Respectively it reached to 609.3 million GEL and 202.6 million GEL. The growth rate of assets, however it is substantially lower than the average data in previous years, anyway its still quite high. It should be emphasized that the volume of the assets of Microcredit takes 1,35% in total assets of microfnance organizations by the end of 2013. Diagram - Microfnance Sectors Total Portfolio Structure
Source: Georgian National Bank saqarTvelo da safinanso seqtori / Georgia and its Financial Environment 8 wliuri angariSi 2013 / Annual Report 2013 Cven Sesaxeb mikrosafinanso organizacia ss `mikrokrediti~ aris ss `mcire da saSualo bizne- sis sainvesticio fond mwvane kapitalis~ mier dafuZnebuli mikrosafinanso organ- izacia, romlis Seqmnis idea da strategiuli ganviTarebis gegma SemuSavda 2008 wels. 2009 wels `mikrokrediti~ oficialurad daregistrirda, rogorc mikrosafinan- so organizacia. damfuZnebeli organizacia `mwvane kapitali~ (www.green.ge) warmoad- gens erT-erT wamyvan investiciebis marTvis kompanias, romelsac xelmZRvanelobs cnobili qarTveli bankiri da investori, b-ni mamuka maWavariani. `mwvane kapitalis~ direqtorTa sabWos Tavmjdomarea b-ni givi korinTeli. ss `mwvane kapitalis~ aqciebis yidva-gayidva xdeba saqarTvelos safondo birJaze (www.gse.ge). 2009 wlidan 2012 wlamde `mikrokreditis~ sakredito portfelis 80 pro- cents Seadgenda oqros salombarde sesxebis produqti.am drois mcire monakveT- Si moipova man sakmao popularoba q. TbilisSi, `mikrokreditis~ TanamSromelTa maRalprofesionalizmisa da moqnili sasesxo pirobebis meoxebiT. 2012 wlidan `mikrokrediti~ ayalibebs axal strategias da oqros lombardis ganviTarebasTan erTad aqcents biznes / samomxmareblo / sasoflo-sameurneo sesxebze akeTebs. 2014 wlis 1 kvartlis monacemebiT, organizaciis mTliani sakredito portfeli Sead- genda 11 506821 lars, romlis 75 procents swored biznes / samomxmareblo / saso- flo-sameurneo sesxebi Seadgens. q. TbilisSi `mikrokredits~ 6 filiali aqvs. igi 3 filialiTaa warmodgenili kaxeTis regionSi: TelavSi, wnorsa da lagodexSi. xazgasasmelia `mikrokreditis~ mier klientebisaTvis SeTavazebuli sasesxo produqtebis farTo speqtri da sesxis damtkicebis procedurebis moqniloba. Cvens organizaciaSi sesxebis aReba SesaZlebe- lia nebismieri saxis dadasturebadi SemosavliT - saxelfaso cnobiT, gzavnilebiT, aRuricxavi kerZo samewarmeo saqmianobiT da sxva. umTavresi moTxovna sesxis aRe- bisaTvis aris ara Semosavlis raime gansazRvruli forma, aramed Semosavlebis sakmarisoba. aucilebelia imis aRniSvna, rom `mikrokrediti~ ar gascems sesxebs Se- mosavlis dadasturebis gareSe, miuxedavad imisa Tu ramdenad faseuli qoneba Sei- Zleba iyos warmodgenili sesxis uzrunvelsayofad (es mosazreba, cxadia, ar exeba salombarde sesxebs). 9 Cven Sesaxeb / About Us ABOUT US Microfnance organization- JSC Microcredit is founded by the JSC Green Capital Partners, Investment management company. The very idea and a strategic development plan was developed in 2008. In 2009 JSC Microcredit was offcially registered as a microfnance organization. The founder of the Microcredit is the Green Capital Partners (www.green.ge) which represents as one of the leading investment management company that is managed by the famous banker and investor - Mr. Mamuka Machavariani. The chairman of the Board of Directors of the Green Capital is Mr. Givi Corinteli. The selling and buying of Green Capital stocks take place on Georgian Stock Market (www. gse.ge). From 2009 until 2012, 80% of JSC Microcredit loan portfolio consisted of gold pawn loan prod- ucts that have gained enough popularity in a short period of time because of JSC Microcredits high professional employees and fexible loan terms. Since 2012 JSC Microcredit sets out a new strategy and together with developing gold pawn- shop also emphasizes on the development of a business/consumer and agriculture loans. According to fgures of the 1 quarter of 2014, the total loan portfolio of the organization amounted 11 506 821 GEL, where 75% of the total portfolio comes on business/consumer and agriculture loans. JSC Microcredit owns 6 branches in Tbilisi. There are 3 branches of the organization in Kak- heti vinery region: in Telavi, Tsnori and Lagodekhi. It should be emphasized the wide range of loan products and fexible loan approval procedures proposed by JSC Microcredit to the customers. Our loans are available for any kind of confrmable revenue - payroll reports, money transfers, and other unrecorded private business activity. The main requirement for the loan is not any specifc form of income, but revenue suffciency. It is necessary to note that JSC Microcredit does not provide loans without verifcation of income, regardless of whether how high can be the property value represented for securing the loan (this is obviously not a matter of opinion for pawn loans). 10 misia mikrosafinanso organizacia `mikrokrediti~ miznad isaxavs mcire da saSualo biznesis ganviTarebisadmi xelSewyobas. dafuZnebidan organizacia gamoirCeva klientebisadmi individualuri midgomiTa da operaciaTa gamWvirvalobis dacviT. yovelive es xorcieldeba sinergiul finansur momsaxurebaTa gawevis gziT. `mikrokreditSi~ didi yuradReba eTmoba korporatiul-organizaciuli Rire- bulebebis damkvidrebasa da ganuxrel dacvas. biznes garemoSi organizaciuli da ma- RaleTikuri samuSao principebis gatarebiT SeZenili gvaqvs socialuri pasuxismge- blobis mqone statusi. `mikrokrediti~ korporatiuli marTvis saerTaSoriso standartebis danergvisa da klientebisaTvis maRali donis finansuri momsaxureb- is miwodebis gziT ikavebs finansuri bazris garkveul nawils. mikrosafinanso organizacia `mikrokreditisTvis~ umniSvnelovanesia jansaRi saqmiani urTierTobebis Camoyalibeba da misi ganviTareba kompaniasTan dakavSire- bul subieqtebTan. wliuri angariSi 2013 / Annual Report 2013 11 misia / Mission MISSION JSC Microcredit aims to promote the development of small and medium-sized businesses. The organization is distinguished by its special attitude towards its customers since its establishment in accordance with the individual approach and transparency of operations, all of this is accomplished through the provision of synergic fnancial service. In JSC Microcredit great attention is paid to establishment of corporative and organizational values and their permanent protection. By implementing organizational and high-ethic working principles in business environment our organization acquired the status of a socially responsible company. By implementing international standards of corporate management and by delivering high level fnancial services to its customers JSC MicroCredit keep distinct part of the fnancial market. It is essential for JSC MicroCredit to establish healthy business relationships and then devel- oping them with each business unit connected to the company.
12 wliuri angariSi 2013 / Annual Report 2013 korporatiuli faseulobebi inovaciebisadmi swrafva ss `mikrokreditis~ gundi mudmiv ZiebaSia, raTa daamkvidros Tanamedrove sakredi- to teqnologiebi, msoflioSi mimdinare siaxleebidan gamomdinare. gunduroba da profesionalizmi ss `mikrokredits~ hyavs urTierTTanadgomasa da urTierTpativiscemaze dafuZnebu- li profesionalTa gundi.misi wevrebisTvis umTavresia urTierTmxardaWera saer- To miznebis misaRwevad. socialuri pasuxismgebloba ss `mikrokreditis~ TanamSromlebs kargad esmiT, rom klientebis nebismieri saxis finansuri momsaxureba unda iyos maTi moTxovnilebebisa da SesaZleblobebis adekva- turi, raTa ar gadaiqces klientisaTvis problemis Seqmnis mizezad. stabiluri SesaZleblobebi ss `mikrokrediti~ Tavisi finansuri momsaxurebiT qmnis stabilur SesaZleblobebs arsebuli da potenciuri klientebisaTvis,raTa mudmivad umjobesdebodes maTi saqmi- anoba da yofacxovrebis maxasiaTeblebi. wliuri angariSi 2013 / Annual Report 2013 13 CORPORATE VALUES INNOVATION SEEKING JSC Microcredit team is constantly searching for ways to establish modern credit technologies according to the changes in the world. TEAMWORK AND PROFESSIONALISM JSC microcredit has established mutually respectful support among the team of professionals, which is the most important in gaining of general goals. SOCIAL RESPONSIBILITY JSC Microcredit employees fully understand that any kind of fnancial service to clients should be adequate to their needs and capabilities in order not to become a source of problems for the client. STABLE OPPORTUNITIES JSC microcredit with its ability is forming stable range of fnancial services to existing and po- tential clients in order to improve the characteristics of their social life and activity. korporatiuli faseulobebi / Corporate Values 14 wliuri angariSi 2013 / Annual Report 2013 organizaciuli struqtura iuridiulad mfo `mikrokrediti~ warmoadgens saaqcio sazogadoebas, romelsac gaaCnia Semdegi mmarTvelobiTi organoebi: sameTvalyureo sabWo; aRmasrulebeli direqtori; sakredito, safinanso, iuridiuli, usafrTxoebisa da oqros salom- barde departamentebi Sesabamisi xelmZRvanelebiT. maRali da saSualo rangis menejerebi qmnian Semdegi tipis komitetebs: aRmasrulebeli komiteti; sakredito komiteti; davalianebuli sesxebis marTvis komiteti; administraciuli sakiTxebis marTvis komiteti. aRniSnul komitetebSi SeiZleba gaerTiandnen rogorc maRali rangis me- nejerebi, aseve saSualo rangis menejerebi sxvadasxva departamentebidan, aseve sxvadasxva departamentis TanamSromlebi. 15 ORGANIZATIONAL STRUCTURE Legally JSC Microcredit represents a joint stock company, which has the following governing structures: Supervisory Board, which consists of 3 persons Executive director Heads of Credit, fnance, legal, security and Gold Pawn departments. Top and mid-level managers create the following committees: Executive Committee Credit Committee Delinquent loans management Committee Committee of Administrative Issues management In these committees there maybe united Top managers, as well as mid-level managers from various departments and employees of various departments. organizaciuli struqtura / Organizational Structure 16 wliuri angariSi 2013 / Annual Report 2013 riskebis marTva sakredito riski - organizacias gaaCnia mkafiod Camoyalibebuli sakredito meTodologia. igi aregulirebs saprocento ganakveTebs, sesxis moculobebsa da maTi uzrunvelyofis procedurebs, monitoringis procedurebsa da sesxTan da- kavSirebul sakiTxebs. yvela sasesxo ganacxadi ivseba sakredito eqspertTa meT- valyureobiT. amis Semdeg xdeba sesxis pirveladi ganxilva sakredito/filialis menejerTan da Sesabamisi sakredito komitetis oqmis Sevseba, sadac mocemulia po- tenciuri msesxeblis social-ekonomikuri mdgomareobisa da gadaxdisunarianobis gansazRvrisaTvis aucilebeli parametrebi. yovelive amis Semdeg sesxi ganixileba sakredito komitetze. sesxis damtkicebisas procesSi xdeba Semdegi informaciis moZieba: klientis mier mowodebuli monacemebi; informacia klientze organizaciis Sida monacemTa bazidan; informacia klientze mesame pirebidan (bankebi, momxmareblebi, biznes-part- niorebi da a.S.); `kreditinfos~ sakredito biurodan. Oorganizaciis portfeli diversificirebulia industriebis, geografiuli re- gionebisa da sxvadasxva sakredito produqtebis mixedviT. kompetenturobis/profesionalizmis riski TanamSromelTa profesionalizmis maRali donis SenarCunebisTvis ss `mikrokrediti~ mudmivad atarebs sxvadasxva tipis treningebs TanamSromlebisaT- vis da mudmivad axorcielebs klientTa gamokiTxvas maTi kmayofilebis donis gan- sasazRvravad. savaluto riski organizacias gaaCnia hejirebis mkacri politika, romlis Tanaxmadac xdeba, aq- tivebsa da valdebulebebSi, erovnuli da ucxouri valutis mkacri balansireba. Ro- gorc wesi, biznes/samomxmareblo sesxebi erovnul valutaSi gaicema 2000 laramde. am zRvris zemoT sesxebi gaicema aSS dolarSi. calkeul SemTxvevebSi SesaZlebelia 2000 larze zemoT biznes/sasoflo-sameurneo sesxebis gacema, Tumca am dros sap- rocento ganakveTi ufro maRalia, vidre igive moculobis ucxour valutaSi gacemu- li sesxebisTvis. saprocento ganakveTebis riski saprocento ganakveTebi yvela sasesxo produqtisaTvis aris fiqsirebuli da saSualod, sul mcire, orjer aRemateba moziduli Tanxebis Sesabamis ganakveTebs. SeiZleba iTqvas, rom bolo erTi wlis ganmavlobaSi moziduli Tanxebis saSualo Rirebuleba Semcirda wliuri 24 procentidan 16 procentamde, maSin rodesac sap- rocento ganakveTebi produqtebze arsebiTad ar Secvlila. likvidurobis riski organizacia yovelTviurad akontrolebs sakuTari maRallikviduri aqtivebis Tanafardobas arsebul valdebulebebTan. garda amisa, yovelkvireulad gadascems erovnul banks aRniSnul informacias. rogorc wesi, ss `mikrokredits~ yovelTvis gaaCnia oqroTi uzrunvelyofili rezervi, romelic SesaZlebelia gamoyenebul iqnas saWiroebis SemTxvevaSi. wliuri angariSi 2013 / Annual Report 2013 17 RISK MANAGEMENT Credit risk - organization has a clearly defned credit methodology that regulates the interest rate, loan amount and assurance procedures, monitoring procedures and all the credit-related issues. All loan applications shall be completed under the supervision of credit experts. After this takes place initial review of the loan together with the credit / branch Manager and flling in the relevant protocol of credit committee, where are the data of socio-economic situation of the poten- tial borrowers and all necessary parameters of debt paying ability of the client. After fnishing all the procedures the loan is discussed by a credit committee. During loan approval process it is being gained the following information: The data provided by the client. Information about the client from the internal database of the organization. Information about the client from the third parties (banks, consumers, business - partners, etc.) From the Credit Bureau of Credit-info The portfolio of the organization is diversifed according to industries, geographical regions and ac- cording to the variety of credit products. Risks of Competence / professionalism For the maintaining of a high level professionalism of the employees, JSC Microcredit regularly conducts various types of training for the employees and regularly focuses on customers surveys to determine their level of satisfaction. Currency risk The organization has a strict policy of hedging, which helps strictly balance national and foreign cur- rencies in assets and liabilities. Typically, the business / consumer loans in the national currency are issued up to 2000GEL. Loans above this threshold will be issued fully in U.S. dollars. Loans secured by gold, will be issued fully in U.S. dollars. In certain cases it is possible to issue Business /Agricultural loans above 2000GEL, but this time the interest rate is higher than the same volume of loans in foreign currency. Interest rate risk The interest rates for every loan products are fxed and average it exceeds at least 2 times over the size of appropriate rates of the attracted funds. It can be said that the average value of the funds raised in the last year has been reduced from the annual 24% - to annual 16% - while interest rates on credit products has not been changed substantively. Liquidity Risk The organization daily oversees the ratio of highly liquidate assets towards existing liabilities. In addition, every week the identifed information is transmitted to National Bank. Typically, Micro-credit has always secured the gold reserve that could be used if necessary. riskebis marTva / Risk Management 18 filialebis qseli saTao ofisi ss `mikrokreditis~ marTva xorcieldeba saTao ofisidan, romelic aris dam- fuZnebeli organizaciis, ss `mcire da saSualo biznesis sainvesticio fond mwvane kapitalis~ sakuTreba. saTao ofisSi ganTavsebulia organizaciis marTvis infra- struqtura. aqve muSaoben sameTvalyureo sabWos warmomadgenlebi da aRmasrulebe- li direqtori. saTao ofisi emsaxureba `mwvane Tamasuqis~, biznes-samomxmareblo sesxebisa da oqros lombardis produqtebs. aq tardeba sameTvalyureo sabWos sxdomebi da xdeba inovaciuri produqtebis SemuSaveba. filialis sakredito de- partaments xelmZRvanelobs irakli konjaria, romelsac aqvs mdidari samuSao ga- mocdileba `bank respublikasa~ da `Tibisi bankSi~. misamarTi: daviT aRmaSeneblis gamziri #154, tel.: 295 01 07; 294 01 01. pirimzis filiali organizaciis SedarebiT axali (Camoyalibda 2012 wlis ivlisSi), magram yvelaze msxvili filiali, romlis sakredito portfelic mTliani portfelis 1 / 4 -s Sead- gens. pirimzis filialSi umTavresad warmodgenilia biznes / samomxmareblo / avtosalombarde sesxebi, agreTve oqros lombardi. filialSi, rogorc wesi, praqtikas gadian axladmiRebuli sakredito eqspert-staJiorebi. filials xelmZ- Rvanelobs cicino basilaSvili, romelsac gaaCnia `safosto bankSi~ da mfo `Tbil- bizneskreditSi~ muSaobis didi gamocdileba. misamarTi: fxovis q. #2, tel.: 292 22 25. isnis filiali `mikrokreditis~ erT-erTi pirveli filialTagania, romelic gaixsna 2009 wels. filiali, umeteswilad, orientirebulia oqros lombardis produqtze, Tumca aq 2013 wlidan gaaqtiurda samomxmareblo sesxebis gacema. filials xelmZRvanelobs elga roxvaZe, romelic amavdroulad aris oqros lombardis sasesxo produqtis ganviTarebis koordinatori mTeli organizaciis masStabiT. misamarTi: isnis bazrobis mimdebare teritoria, tel.: 277 90 26. wliuri angariSi 2013 / Annual Report 2013 19 BRANCH NETWORK HEAD OFFICE JSC Microcredit is maintained by the head offce management, which is the property of the founder organization Green Capital Partners. The organizations management infrastructure is functioning in the head offce. Here also works the Supervisory Board and the Executive Director. Head Offce serves to green promissory note, business / consumer loans and gold pawn shop products. There are held the meetings of the Supervisory Board and the development of innovative products. Credit department of the Branch is headed by Irakli Konjaria, who has rich working expe- rience in the Bank Republic and TBC Bank Address of David the Builder Avenue # 154, Tel. 295 01 07, 294 01 01. PIRIMZE BRANCH Relatively new (established in July 2012), but the largest branch of the organization with credit portfolio of of the total portfolio. Pirimze branch is mainly presented with business/consumer and pawn shop Loans, as well as a gold pawn shop. Branch usually trains new Loan Offcers / Interns. The branch is headed by Tsitsino Basilashvili, which has a rich working experience in the Postal Bank and RFO Tbilbusinesskredit. Address Pkhovi Street. # 2, Tel. 292 22 25 ISANI BRANCH Is one of the frst JSC Microcredit branches, which was opened in 2009. Branch is most fo- cused on gold Pawn shop product, but also has enhanced consumer loans since 2013. The Isani branch is headed by Elga Rokhvadze- who at the same time is coordinator of a gold pawn loan product development across the organization. Address: ISANI Market surrounding area. Tel. 277 90 26 filialebis qseli / Branch Network 20 gldanis filiali filiali gaixsna 2011 wels da orientirebulia oqros lombardisa da avtosa- lombarde sesxis gacemaze. filiali aqtiurad emsaxureba raionis mosaxleobas fuladi gzavnilebis operaciebis ganxorcielebaSi. gldanis filialSi, iseve ro- gorc lagodexis, isnisa da varkeTilis filialebSi, sakredito mimarTulebas xelmZRvanelobs filialebis ganviTarebis menejeri, xviCa kuzibabaSvili, romel- sac gaaCnia mfo `finka-saqarTveloSi~ muSaobis didi gamocdileba. misamarTi: xizaniSvilis q. #4, tel.: 267 02 59. saburTalos filiali filiali gaixsna 2013 wels. miuxedavad xanmokle istoriisa, aq warmatebiT ganviTar- da biznes / samomxmareblo / avtosalombarde sesxebi. filialSi aqtiurad viTardeba oqros lombardis produqtic. filials xelmZRvanelobs giorgi soxaZe, romelsac gaaCnia `prokreditbanksa~ da `standartbankSi~ muSaobis mdidari gamocdileba. misamarTi: al. yazbegis q. #3a, tel.: 237 91 04. Telavis filiali ss `mikrokreditis~ pirveli filialia, romelic gaixsna Tbilisis gareT 2012 wlis seqtemberSi. filialSi erTnairi warmatebiT viTardeba biznes / samomxmare- blo / sasoflo-sameurneo sesxebisa da oqros lombardis produqtebi. filials xelmZRvanelobs mikrodafinansebis sferos erT-erTi gamocdili specialisti saqarTveloSi, nodar iukuriZe, romelsac gaaCnia mikrodafinansebis sferoSi muSaobis cametwliani gamocdileba. misamarTi: daviT aRmaSeneblis q. #47, tel.: 0350 27 59 36. lagodexis filiali ss `mikrokreditis~ yvelaze mzardi filialia, romelic gaixsna 2014 wlis Te- bervalSi da zrdis tempebiT gaaswro yvela sxva filials. aq erTnairi warmatebiT viTardeba biznes / samomxmareblo da sasoflo-sameurneo sesxebi. filiali Camoy- alibebulia mikrodafinansebis sferos TvalsaCino specialistis, xviCa kuzibabaS- vilis mier, romelsac gaaCnia mikrodafinansebis sferoSi muSaobis aTwliani ga- mocdileba. misamarTi: 26 maisis q. #14, tel.: 570 103 559 wnoris filiali organizaciis erT-erTi yvelaze `axalbeda~ filialia, romelic gaixsna 2014 wlis ianvarSi. filiali eqsperimentuli saxisaa, rac gamoixateba operatiuli xar- jebis minimizaciaSi. ofisi mdebareobs q. wnoris msxvili savaWro centris Senoba- Si da warmodgenilia mxolod erTi gamocdili TanamSromliT. igi sakmaod war- matebiT axorcielebs marketingis, sakredito portfelis zrdisa da kontrolis amocanebs. wnoris filiali orientirebulia biznes / samomxmareblo da sasof- lo-sameurneo sesxebze. filials xelmZRvanelobs mzia SanSiaSvili, romelsac gaaCnia mikrodafinansebis sferoSi muSaobis Tormetwliani gamocdileba. misamarTi: daviT aRmaSeneblis q. #9, tel.: 570 103 558. varkeTilis filiali filiali gaixsna 2014 wlis martSi da xanmokle periodSi warmatebiT ganviTar- da biznes / samomxmareblo sesxebisa da oqros lombardis produqtebis kuTxiT. aq viTardeba avtolombardis produqtic. mas uSualod xelmZRvanelobs filialebis ganviTarebis menejeri xviCa kuzibabaSvili. oqros salombarde sesxebis produqteb- is ganviTarebaze pasuxismgebelia Tornike feiqriSvili. misamarTi: biznes centri `varkeTili~, tel.: 247 62 13. wliuri angariSi 2013 / Annual Report 2013 21 GLDANI BRANCH The branch was opened in 2011 and is focused on gold and auto-pawn loans. Branch mostly serves residents of the district in remittance operations. In Gldani branch, as well as in Isani, La- godekhi and Varketili branches, the credit direction of branch is headed by Branch development manager-Khvicha kuzibabashvili, which has rich working experience in RFO Finca - Georgia. Address: Ts. # 4, tel. 267 02 59 SABURTALO BRANCH The branch was opened in 2013. Despite the short history, it has been successfully developed in business/consumer and auto-pawn shop loans product direction. Branch is also actively develop- ing Gold Pawn shop products as well. The branch is headed by George Sokhadze, which has rich working experience in Prokreditbank and Standardbank. Address: Al. Stages # 3, Tel. 237 91 04 TELAVI BRANCH Telavi Branch is the frst branch which was opened in September 2012 outside the capital. Branch is developing with the same success business / consumer / agricultural loans and gold pawn shop products. The branch is headed by one of the most experienced specialist of micro- fnance sector in Georgia-Nodar Iukuridze, which has thirteen years of experience in the feld of microfnance. Address: David # 47, Tel. 0350 27 59 36 LAGODEKHI BRANCH Lagodekhi Branch is JSC Microcredits fastest growing branch, which was opened in February 2014 and the growth rate of the branch has surpassed all other existing branches. With the same success it is developing a business / consumer and agricultural loans. Lagodekhi branch is founded by the prominent specialist in the feld of micro-fnance Khvicha kuzibabashvili, who has ten years of experience in the feld of microfnance. Address: 26-May 14, tel. 570 103 559 TSNORI BRANCH Tsnori Branch is organizations one of the most beginner branch, which was opened in January 2014. At present it represents a Branch of the experimental kind, which is refected in the minimi- zation of operational costs - the offce is located in a wide range trade center building in Tsnori and is represented only with one experienced specialist, who successfully carries on a marketing, loan portfolio growth and control tasks. However, the branch is focused on the business / consumer and agricultural loans. The branch is headed by Mzia Shanshiashvili, who has twelve year working experience in the feld of microfnance. Address: David # 9, tel. 570 103 558 VARKETIL BRANCH The branch was opened in March 2014 and in a short period of time successfully developed in a business / consumer products in terms of pawn loans and gold. Branch is developing a car loan product. The branch is headed by the Branch Development Manager Khvicha kuzibabashvili. Re- sponsible for Gold Pawn loans product development is Tornike Peikrishvili. Address: Business Center Vera. Tel. 247 62 13 filialebis qseli / Branch Network 22 produqtebi biznes-sesxebi biznes-sesxebis sakredito produqti gankuTvnilia mcire mewarmeTa sakmaod far- To speqtrisTvis rogorc urbanulad ganviTarebul, agreTve ekonomikurad Camor- Cenil raionebSi. Cveni klientebi arian sxvadasxva saxis saqonlis biTumad da sacal- od movaWreebi, bazrobebsa Tu biznes-centrebSi savaWro adgilebis mflobelebi, sxvadasxva saxis gadamamuSavebel-mompovebeli mcire saamqroebis mflobelebi, trans- portis, socialuri da sayofacxovrebo momsaxureobis biznesSi CarTuli pirebi. saprocento ganakveTi: 28%-44%; sesxis vada: 1-48 Tve; sesxis Tanxa: 300-50 000 lari. uzrunvelyofa 3000 larze meti sesxebis SemTxvevaSi uZravi qoneba (ipoTeka); arasasoflo sameurneo daniSnulebis miwa (ipoTeka) + Tavdeboba Semosavli- sa da uZravi qonebis mqone fizikuri piris (pirebis) mier; manqana-danadgarebi (giravnoba); avtotransporti (giravnoba); sakomisio: sesxi 2%; winswrebiT dafarvis jarima: 2%; vadagadacilebis jarima: 0.5% yovel vadagadacilebul dReze; valuta: lari, aSS dolari; saSeRavaTo periodi: 0-3 Tve Semosavlebis Taviseburebidan gamomdinare. saSeRavaTo periodSi xdeba mxolod daricxuli procentis dafarva. sasoflo-sameurneo sesxebi agrosesxebis sakredito produqti gankuTvnilia agrobiznesis dasafinanseblad rogorc ekonomikurad CamorCenil, aseve urbanulad ganviTarebul raionebSi. agrosaqmianoba Tavis mxriv warmoadgens aqtivobaTa uwyvet jaWvs. igi iwyeba pro- duqciis warmoebis sawyisi etapidan, moicavs mosavlis aRebis, Segrovebisa da gada- muSavebis etapebs da mTavrdeba sabiTumo / sacalo gayidvebiT. es procesi, rogorc wesi, saqmianobis Taviseburebis mixedviT, yovel etapze saWiroebs finansirebas da warmoadgens sakmaod perspeqtiul sferos mikrodakreditebisaTvis. saprocento ganakveTi: 32%-48% wliuri; sesxis vada: 3-24 Tve; sesxis Tanxa: 200 - 20 000 aSS dolari. uzrunvelyofa 2000 aSS dolarze meti sesxebis SemTxvevaSi uZravi qoneba (ipoTeka); wliuri angariSi 2013 / Annual Report 2013 23 produqtebi / Our Products OUR PRODUCTS BUSINESS - LOANS Small Business Loans Credit product is designed widely for small manufacturers as in urban developed areas, also in economically backward areas. Our customers are different types of traders, wholesale and retail traders, fairs or business own- ers of shopping centers, the owners of various types of processing and extracting workshops and smallshops, also persons engaged in transport, social and welfare services. Interest rate: 28% -44% Loan Term: 1-48 months Loan Amount: 300-50 000 Guarantee - in the case of loans more than 3,000 Gel Real Estate (Mortgages); Non-agricultural land (mortgage) + guarantor with income and own property; Vehicle/mounting (Pledge); Auto (Pledge); Fee: 2% of the loan Coverage Prepayment Penalty: 2%; Overdue fne: 0.5% for each day of delay Currency: GEL, USD Grace Period: 0 - 3 months depending on the specifcs of the revenue. During the grace period only accrued interest to be paid. AGRICULTURAL LOANS Agro-business fnancing loans credit product is designed for fnancing agro-businessesas not only in economically backward, but also developed areas as well. Agricultural activities, in turn constitute uninterrupted chain of activities, which starts from the initial stage of production, includ- ing the harvesting, collection and processing stages and ends with a wholesale / retail sales. This process being of a different kind of activities requires a very promising feld of Finance and seems to be quite perspective area for microcredit operations. Interest rate: 32% -48% annual Loan Term: 3-24 months Loan Amount: 200-20 000 U.S. dollars or the equivalent in GEL Guarantee - in the case of loans more than $ 2000 24 wliuri angariSi 2013 / Annual Report 2013 sasoflo-sameurneo daniSnulebis miwa (ipoTeka) + Tavdeboba Semosavlis mqone fizikuri piris (pirebis) mier; arasasoflo sameurneo daniSnulebis miwa (ipoTeka) + Tavdeboba Semosavlis mqone fizikuri piris (pirebis) mier; manqanadanadgarebi (giravnoba); avtotransporti (giravnoba); sakomisio: sesxi 2%; winswrebiT dafarvis jarima: 0%; vadagadacilebis jarima: 0.5% yovel vadagadacilebul dReze; valuta - lari, aSS dolari; saSeRavaTo periodi: 2-8 Tve saqmianobis Taviseburebidan gamomdinare. saSeR- avaTo periodis ganmavlobaSi xdeba mxolod daricxuli procentis dafarva. samomxmareblo sesxebi samomxmareblo sesxebis sakredito produqtebi gankuTvnilia mosaxleobis yvelaze farTo speqtrisTvis. aq Sedis rogorc biznes-sesxebisa da agrosesxebis segmentebisaTvis Sesabamisi kategoria mcire mewarmeebisa, agreTve saxelmwifo da kerZo samsaxurSi dasaqmebuli pirebisaTvis, romelTac aqvT stabiluri saxelfaso Semosavali. mfo-is arsebul praqtikaze dayrdnobiT, SeiZleba iTqvas, rom pro- duqti Tanabari warmatebiT muSaobs rogorc urbanulad ganviTarebul, aseve ekono- mikurad CamorCenil regionebSi. saprocento ganakveTi: 28%-44%; sesxis vada: 1-48 Tve; sesxis Tanxa: 300-50 000 lari. uzrunvelyofa 3000 larze meti sesxebis SemTxvevaSi uZravi qoneba (ipoTeka); arasasoflo sameurneo daniSnulebis miwa (ipoTeka) + Tavdeboba Semosavli- sa da uZravi qonebis mqone fizikuri piris (pirebis) mier; manqana-danadgarebi (giravnoba); avtotransporti (giravnoba); sakomisio: sesxi 2%; winswrebiT dafarvis jarima: 2%; vadagadacilebis jarima: 0.5% yovel vadagadacilebul dReze; valuta: lari, aSS dolari; saSeRavaTo periodi: 0-3 Tve Semosavlebis Taviseburebidan gamomdinare. saSeRavaTo periodis ganmavlobaSi xdeba mxolod daricxuli procentis dafarva. avtosalombarde sesxebi (avtomanqanis tarebis uflebiT) avtosalombarde sesxebis sakredito produqtebi gankuTvnilia mosaxleobis farTo speqtrisTvis. aq Sedis, rogorc kategoria mcire mewarmeebisa da stabiluri Semosavlis mqone saxelmwifo da kerZo samsaxurSi dasaqmebuli pirebisa, aseve nebi- smieri saxis Semosavlis (Tundac arastabiluri) mqone moqalaqeebi, romelTac gaaC- niaT Sesabamisi uzrunvelyofa - avtomanqana. avtolombardis sasesxo pirobebi: minimaluri sesxis Tanxa 400 aSS dolari; (a/manqanis sabazro Rirebuleba minimum 1000 aSS dolari); 400-dan 700 aSS dolaramde - 6.5% yovelTviuri ganakveTi; 701-dan 1500$-mde - 5.7%; 1500-dan 2000$-mde - 5.4%; 2000-dan 3000$-mde - 5.2%; 3000-dan 4500$-mde - 5% 4500-dan 6000$-mde - 4.7%; 6000-dan 7000$-mde - 4%; 7000-dan 8000$-mde - 3.7%. wliuri angariSi 2013 / Annual Report 2013 25 produqtebi / Our Products Real Estate (Mortgages); Agricultural land (mortgage) + guarantor with income; non-agricultural land (mortgage) + guarantor with income; Vehicle/mounting (Pledge); Fee: 2% of the loan Coverage Prepayment Penalty: 0%; Overdue fne: 0.5% for each day of delay Currency: GEL, USD Grace period: 2 - 8 months depending on the specifcs of the activities. During the grace period only accrued interest to be paid. CONSUMER LOANS The product of credit loans is designed for the widest range of the population, including the proper business loans and agro-loans, also small range businesses categories and entrepre- neurs segment, as well as public and private service employees persons who have a stable salary income. RFO - its based on existing practice, we can say that the product works with equal success as in developed urbans, as well as economically backward regions. Interest rate: 28% -44% Loan Term: 1-48 months Loan Amount: 300-50 000 Guarantee - in the case of loans more than 3,000 Gel Real Estate (Mortgages); non-agricultural land (mortgage) + guarantor with income and own property; Vehicle/mounting (Pledge); Auto (Pledge); Fee: 2% of the loan Coverage Prepayment Penalty: 2%; Overdue fne: 0.5% for each day of delay Currency: GEL, USD Grace Period: 0 - 3 months depending on the specifcs of the revenue. During the grace period only accrued interest to be paid. AUTO-PAWN LOANS WITH CARRYING RIGHTS Auto-pawn loans credit product is suitable for a wide range of people, including small businesses and individuals with a stable income employed in the public and private service, also for people with any other kind of income (even unstable) who have the relevant guarantee - the vehicle. Auto Pawn Loan Conditions: The minimum loan amount of 400 U.S. dollars (A / vehicle market value of at least 1000 U.S. dollars). From 400 to 700 $ - monthly rate of 6.5% From 701 to 1500 $ - 5.7% From 1500 To 2000 $- 5.4% From 2000 To 3000 $ - 5.2% From 3000 To 4500 $ - 5% From 4500 To 6000 $- 4.7% From 6000 To 7000 $- 4% From 7000 To 8000 $- 3.7% 26 wliuri angariSi 2013 / Annual Report 2013 oqros salombarde produqtebis aRwera 1. produqtis dasaxeleba - `dabali saprocento ganakveTi~ saprocento ganakveTi - 1.5% Sefaseba - standartuli gasacemi Tanxa - 100 aSS dolaridan gadaxdis periodi - 1; 2; 3; - Tviani saxelSekrulebo vadiT; pirgasamtexlo - 0.5% vadagadacilebul dReze. 2. produqtis dasaxeleba - `dabali ganakveTi dabali jarimiT~ saprocento ganakveTi - 2% Sefaseba - standartuli gasacemi Tanxa - 30 aSS dolaridan gadaxdis periodi - 1; 2; 3; - Tviani saxelSekrulebo vadiT; pirgasamtexlo - 0.25% vadagadacilebul dReze. 3. produqtis dasaxeleba - `ujarimo sesxi - 1~ saprocento ganakveTi - 2.5% Sefaseba - standartuli gasacemi Tanxa - 100 aSS dolaridan gadaxdis periodi - 1 - Tviani saxelSekrulebo vadiT; 4. produqtis dasaxeleba - `ujarimo sesxi - 2~ saprocento ganakveTi - 2% Sefaseba - standartuli gasacemi Tanxa - 1000 aSS dolaridan gadaxdis periodi - 1 - Tviani saxelSekrulebo vadiT; 27 produqtebi / Our Products GOLD PAWN PRODUCTS DESCRIPTION 1. The product name Low percentage rate Interest rate - 1.5% Evaluation - Standard Payable amount- from 100 USD Payment Period - 1; 2; 3 month agreement term Fine/penalty - 0.5% for expired time /per day 2. Product Name Low rates-low fne/penalty Interest rate - 2% Evaluation- Standard Payable amount - from 30 USD Payment Period - 1; 2; 3 Month agreement term Fine - 0.25% for expired time/ per day 3. Product Name Fine/penalty-free Loans 1 Interest rate - 2.5% Evaluation - Standard Payable amount - from 100 USD Payment Period - 1 month agreement term; 4. The product name Fine/penalty-free loan 2 Interest rate - 2% Evaluation - Standard Payable amount - from 1,000 USD Payment Period - 1 month agreement term; 28 wliuri angariSi 2013 / Annual Report 2013 trening centri ss `mikrokredits~ gaaCnia TanamSromelTa profesiuli ganviTarebis sakmaod efeqturi sistema. TanamSromelTa treningebi tardeba sistematurad, rogorc arsebuli TanamSromlebis, aseve mowveuli specialistebis mier. aRsaniSnavia 2013 wlis seqtemberSi filialebis ganviTarebis menejeris, xviCa kuzibabaSvilis mier Catarebuli treningi mikrodafinansebis safuZvlebSi. aseve, londonis centralur bankTan arsebuli `qveynebis centraluri bankebis saswavlo centris~ sapatio direqtorisa da saqarTvelos bankebis asociaciis mTavari konsultan- tis, vaxtang xomizuraSvilis mier Catarebuli saerTo organizaciuli treningi Cveulebrivi da privilegirebuli aqciebis Sesaxeb. wliuri angariSi 2013 / Annual Report 2013 29 TRAINING CENTER JSC Microcredit has a very effective system for employees professional development. Em- ployee training is conducted in a systematic way not only by existing staff, but also by invited spe- cialists. It should be noted that in September 2013 Kvicha Kuzibabasvili (The Branch Development Manager) conducted trainings in micro fnancing basements. Also the trainings were conducted by Vaktang KhomizuraSvili- Honorary Doctor of Training Center of the central banks in London, Senior Consultant of the Georgian Banks Association in the mainorganizational issues, about general and preferred shares.
trening centri / Training Center 30 wliuri angariSi 2013 / Annual Report 2013 klientebi zurab SabalaiZe wnoris filialis msesxebelia. 2012 wels misma ojaxma bina dakarga kerZo mevalesgan aRebuli maRal- procentiani sesxis gamo. ojaxi droebiT TavSefarebuli iyo mezoblis saxlSi. zu- rabs saqmianoba arasdros Seuwyvetia. mas aqvs vetafTiaqi da meoradi tansacmlis maRazia, Tumca arsebuli SemosavlebiT ver axerxebda dakarguli binis gamosyidvas. ss `mikrokreditidan~ aRebuli sesxiT zurab SabalaiZem gamoisyida dakarguli bina da ufro aqtiurad ganagrZo biznes-saqmiano- ba. garda vetafTiaqisa da meoradi tansac- melebis maRaziisa, zurabma gamosyiduli saxlis ezoSi aaSena Rorebis ferma da saw- iwile. `ss `mikrokrediti~ damexmara mama-pap- iseuli saxlis dabrunebaSi da Cems ojaxs ukeTesi momavlisadmi rwmena ganumtkica, - ambobs zurab SabalaiZe. kukuri beriSvili Tbiliselia, pro- fesiiT ekonomisti. 2006 wlamde igi Tbi- lisSi cxovrobda da eweoda samewarmeo saqmianobas - hqonda mobiluri tele- fonebis maRazia da saxaWapure. qveyanaSi Seqmnili mdgomareobis gamo, 2006 wlidan igi col-SvilTan da mSoblebTan erTad axal zelandiaSi wavida, sadac warmatebiT aawyo sakuTari biznesi da gaatara 8 weliwa- di, Tumca mudmivad fiqrobda samSobloSi OUR CLIENTS Zurab Shabalaidze is the client of Tsnori branch. In 2012, his family lost their apartment be- cause of a high percent loan taken from a private creditor. The family was temporarily moved to the neighbors house. Zurab never stopped work- ing. He has a Vet drugstore and a second-hand clothes shop, but he was not able to return his house because of the low income. Shabalaidze took a loan from JSC Microcredit and redeemed his lost apartment and he continued his business activity more intensively. Later besides the Vet drugstore and second-hand clothes shop, he built a farm of pigs and hens as well in his garden. JSC Microcredit helped me to redeem back home to my family and to return again the hope for a better future, says Mr Shabalaidze. Kukuri Berishvili is from Tbilisi, an economist by profession. Until 2006 he lived in Tbilisi and was running a business - a mobile phone shop and a caf( sakhachapure). Due to the situation in the country since 2006 Kukuri moved to New Zealand together with his family and parents, where he successfully designed his own busi- ness and spent there 8 years, but always thought about returning to his homeland. 31 dabrunebaze. 2013 wels kukuri beriSvili daubrunda saqarTvelos, sazRvargareT naSovni TanxiT mcxeTis raionis sofel saguramoSi SeiZina saxli da nakveTi, sad- ac gaaSena bostneulis saTburebi. kukuris Zalian undoda sokos saTburis awyobac, risTvisac ss `mikrokreditidan~ grZelva- diani sesxi aiRo. man, xis sokos warmoeb- is Tanamedrove teqnologiis saSualebiT, pirvelive aRebaze soliduri mosavali moiwia da mudmivi gasaRebis wyaroebic ga- monaxa axlomdebare restornebis saxiT. `ss `mikrokreditma~ ganmaxorcielebi- na ocneba, Semeqmna Tanamedrove teqnol- ogiebiT aRWurvili sokos saTburi~, - am- bobs kukuri beriSvili. vardiko kutivaZe `mikrokreditis~ erT-erTi saukeTeso msesxebelia, muSa- obs fxovis quCaze, dakavebulia yvavileb- is realizaciiT. aRniSnuli saqmiano- biT vardiko kutivaZe da misi meuRle uZRvebian ojaxs da ixdian erTaderTi Svilis swavlis gadasaxads. vardiko ss `mikrokreditSi~ pirvelad 2013 wlis aprilSi movida, rodesac biznesis ga- farToeba gadawyvita. msesxebelma aRebuli Tanxa mizno- brivad daxarja da sasurveli Sedegi miiRo. sadReisod, misi sufTa mogeba biznesidan mniSvnelovnadaa gazrdili, rac saSualebas aZlevs vardiko kutivaZes, safuZvliani ganaTleba miaRebinos Svils Tavisufal universitetSi. klientebi / Our Clients In 2013, Kukuri Berishvili returned to his coun- try. With the money earned in abroad he bought a house and some land in Mtskheta region, where he built vegetable greenhouses. Kukuri wanted to build a greenhouse of mushrooms too, for which he assumed a long-term debt from JSC micro- credit. Through a modern production technology of the tree mushrooms he got a signifcant income with the frst harvest and besides he found nearby restaurants to supply permanently with fresh veg- etable and mushrooms. JSC Microcredit helped me to make my dream come true in creating a new greenhouse equipped with modern technol- ogies - says Kukuri Berishvili. Vardiko Kutivadze one of the best clients of JSC Microcredit, runs business of selling fow- ers on Fkhovi Street. With these activity Vardiko Kutivadze and his wife manage a family and pay the tuition for their only son. He applied to JSC MicroCredit in April 2013 for the frst time, when decided to expand his business. The Borrower spent the money for the intend- ed purposes and got the desired result. Nowa- days net proft from his business has signifcant- ly increased, which allows Vardiko Kutivadze to give a good education to his child at the Free University. 32 safinanso angariSgeba mikro safinanso organizaciis sruli dasaxeleba safinanso angariSgebis TariRi direqtori mTavari buRalteri iuridiuli misamarTi sakontaqto telefonebi eleqtronuli fosta veb-gverdi msesxebelTa raodenoba fizikuri pirebi mamakacebi qalebi iuridiuli pirebi filialebis raodenoba dasaqmebulTa raodenoba angariSgebaze pasuxismgebeli piri angariSgebaze pasuxismgebeli piris telefoni s.s mikrosafinanso organizacia mikrokrediti nadareiSvili daviTi maWavariani nana daviT aRmaSeneblis gamziri # 154 577-80-85-12; 558-66-62-74 david@microcredit.ge; tax@microcredit.ge http://www.microcredit.ge 4697 4695 2414 2281 2 5 50 nadareiSvili daviTi 577-50-85-12 Cven, xelis momwerni viRebT srul pasuxismgeblobas safinanso angariSgebaSi, mis formebsa da csrilebSi asaxuli yvela monacemisa da informaciis utyuarobasa da sizusteze da vadasturebT, rom winamdebare safinanso angariSgeba Semowmebulia da Seesabameba saqarTvelos erovnuli bankis mier dadgenil wesebsa da normebs. danarTi 1 1 2 3 4 5 6 7 8 9 9.1. 9.1.1. 9.1.2. 9.2. 10 11 12 13 damtkicebulia saqarTvelos erovnuli bankis prezidentis 2006 wlis 9 oqtombris #278 brZanebiT Setanilia cvlilebebi saqarTvelos erovnuli bankis prezidentis 2007 wlis 31 ianvris #24 da 2010 wlis 10 ianvris #6 brZanebebiT direqtori mTavari buRalteri winamdebare finansuri angariSgebis formati SemuSavebulia bass-is 30-e standartis moTx- ovnebis Sesabamisad, magram misi gaigiveba ar unda moxdes sagadasaxado samsaxurebisaTvis momzadebuli mogebis deklaraciis formatTan wliuri angariSi 2013 / Annual Report 2013 33 safinanso angariSgeba/ Financial Account Approved under Decree #278 by the President of National Bank dated on October 9, 2006 Amended by the President of the National Bank by the orders of #24 on January 31, 2007 and #6 orders of January 10, 2008 Director Chief Accountant The person responsible for reporting The present fnancial statements format has been designed according to the requirements of the standard IAS - 30, but that hadnt been confused with the tax services and income tax return format Financial Account Microfnance institution Financial reporting date Director Chief Accountant Legal Address Contact Numbers E-mail Web - site The number of borrowers Individuals: Men Women Corporate Number of branches Number of employees The person responsible for reporting Phone number of the person responsible for reporting Microfnancial organization JSC Microcredit Nadareishvili David Machavariani Nana Davit Agmashenebeli Ave.#154 577-80-85-12; 558-66-62-74 david@microcredit.ge; tax@microcredit.ge http://www.microcredit.ge 4697 4695 2414 2281 2 5 50 Nadareishvili David 577-50-85-12 We signatories accept full responsibility for the fnancial statements, forms and tables laid out its authenticity and accuracy of all data and information and confrm that the fnancial statements have been tested and comply with the rules and regulations established by National Bank. Appendix 1 1 2 3 4 5 6 7 8 9 9.1. 9.1.1. 9.1.2. 9.2. 10 11 12 13 34 wliuri angariSi 2013 / Annual Report 2013 35 safinanso angariSgeba/ Financial Account 36 mikrosafinanso organizacia: mikrosafinanso organizacia ss `mikrokrediti~ mimarTulebis dasaxeleba individualuri sesxebi mTliani sesxebi TariRi mamakacebze gacemuli sesxebi qalebze gacemuli sesxebi sul jgufuri sesxebi iuridiul pirebze gacemuli sesxebi sul gacemuli sesxebi sesxebis rao- denoba sesxebis rao- denoba sesxebis rao- denoba sesxebis rao- denoba sesxebis rao- denoba sesxebis rao- denoba Tanxa Tanxa Tanxa Tanxa Tanxa Tanxa vaWroba da momsaxureba soflis meurneoba da metyveleba transporti mSenebloba mompovebeli mrewveloba gadamamuSavebeli mrewveloba turizmi da sporti ganaTleba da kultura samomxmareblo sesxebi sxva (mieTiTos) sul 3990922 2937 2,660,615 1,758 6,651,537 4,695 50345 2 6,701,882 4,697 direqtori angariSgebaze pasuxismgebeli piri 1 2 3 4 5 6 7 8 9 10 11 wliuri angariSi 2013 / Annual Report 2013 metyeveoba 37 Microfinancial Organization: Microfinancial Organization JSC Microcredit Name of Direction Personal Loans Total Loans Date: Men Borrowers Woman Borrwers Total Group Loans Loans to Legal Entities Total Loans Number of Loans Number of Loans Number of Loans Number of Loans Number of Loans Number of Loans Amount Amount Amount Amount Amount Amount Marchendizing and Service Agriculture and Foresting Vehicles Construction Mining Industry Recycling Industry Tourism and Sports Education and Culture Consumer Loans Otherwise (Specified) Total 3990922 2937 2,660,615 1,758 6,651,537 4,695 50345 2 6,701,882 4,697 Director The Person Responsible for Reporting 1 2 3 4 5 6 7 8 9 10 11 safinanso angariSgeba/ Financial Account 38 wliuri angariSi 2013 / Annual Report 2013 39 safinanso angariSgeba/ Financial Account 40 wliuri angariSi 2013 / Annual Report 2013 41 safinanso angariSgeba/ Financial Account 42 MICROCREDIT
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