2016 - finca.ge · At FINCA, each ripple represents the start of a brighter future. To increase impact, we must create more ripples. To create mo re ipple s, we need mo e stone

2016ANNUALREPORT

Mexico

Guatemala

Nicaragua

Ecuador

Haiti

Honduras

Nigeria

Uganda

Democratic Republicof the Congo

Tanzania

Zambia

Malawi

Jordan

Kosovo GeorgiaAzerbaijan

Armenia Afghanistan

Pakistan

Tajikistan

Kyrgyzstan

Russia

FINCA Global Network

MISSIONFINCA’s mission is to alleviate poverty through lasting solutions that help people build assets, create jobs and raise their standard of living.

VISIONFINCA’s vision is to build a global network of sustainable and scalable social enterprises that improve lives worldwide.

FINCA GLOBAL NETWORK

JSC FINCA Bank Georgia 2016 Annual Report

Letter From the FINCA Bank Georgia CEO

Letter from the Chairman and the President, FINCA International

Highlights from 2016 - The Year in Review

FINCA Bank Georgia - General Information

FINCA Bank Georgia - Products and Services

FINCA Bank Georgia Makes Difference

The Year in Review

Corporate Social Responsibility Projects

Financial Performance of FINCA Bank Georgia

FINCA International Leadership - Directors and Management

FINCA Bank Georgia - Leadership

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Letter From FINCA Bank Georgia CEO

Vusal VerdiyevCEO, FINCA Bank Georgia

Dear friends and colleague,

Looking back to 3 years from now, when FINCA Georgia received a banking license, now we can proudly announce that the long and challenging banking transformation process is successfully finished and we move forward to further progress our business in the country and launch strategic projects to increase our impact on the lives and welfare of people we serve for more than 18 years.

In 2016 scale of our products and services was significantly increased and now we can offer full-fledged banking services, including internet bank and mobile bank, telephone banking and visa cards to clients reaching more potential customers in all regions of the country. Client service processes were profoundly improved and well-tuned to match business and customer needs, so that it will definitely have positive effect on overall performance of the institution.

FINCA Bank continues to be loyal to its mission to render responsible banking services to its customers. We are true to our strong commitment of responsible banking and care for well-being of our clients. This independent validation lends credibility to our strict internal standards and policies and our credo to al-ways treat our clients fairly and ethically. The sign of it is Smart Certificate. We all together achieved one of the most important milestones of 2016 and have been awarded a SMART Certificate, the adoption of high ethical standards in the treatment of clients. FINCA Bank Georgia became the first SMART certified financial institution in the country. Considering this the business of the future will further prosper based on quality of service delivered to customers.

In terms of achievements in CSR, it should be noted that it is of paramount importance for FINCA Bank Georgia to foster increase of financial literacy level in the country through various initiatives and activities. A special book was developed for schoolchildren to raise awareness and educate children on importance of savings, financial terms and concepts. “My School Book” created and published by FINCA bank reached more than 10 000 kids in all parts of the country.

The complex transformation process had its direct reflection and we are proud of our staff that share insti-tutional values and demonstrate strong commitment to our mission and vision. Everything starts from our employees. We fully understand that success is the merit of the hard and dedicated work of each and every employee of FINCA Bank Georgia, and we will further invest in and focus more on development of our staff to ensure that our clients get the best services via various touch points and channels through which FINCA Bank Georgia operates.

“ In 2016 scale of our products and services was significantly increased and now we can offer full-fledged banking services, including internet bank and mobile bank, telephone banking and visa cards to clients reaching more potential customers in all regions of the country”

FINCA BANK GEORGIA 2016 ANNUAL REPORT3 4

2 2016 FINCA INTERNATIONAL ANNUAL REPORT 3CREATING RIPPLES

But experience has shown that FINCA’s impact does not end with a small loan. Each loan is just the beginning of economic participation for women, the economically disenfranchised and people living in remote, rural villages. When a family’s income rises, it means that children can stay in school, not simply to become literate, but to become skilled laborers, teachers, physicians or the next generation of business owners.

FINCA clients point proudly to these children, who not only change their families when they grow up, but change the future of communities and, in fact, can change the course of countries.

Together, FINCA and our loan recipients are a part of something astounding. We are bettering communities around the world and breaking down the historical and vicious cycle of intergenerational poverty.

Each loan creates ripples of impact. The ripples extend from the Haitian mother’s small loan that allowed her to grow her small business, to the villagers who work for that business, to her daughter who can now a�ord to go past high school and into a local college, to the community that bene�ts from the more prosperous business and family.

With your support, we have created these ripples together. Now, we are committed to expanding our social impact by creating ripples of a di�erent kind. Low-income communities not only need access to �nancial services, but they have a right to a�ordable and innovative solutions, like clean cookstoves, water �lters and solar lanterns, that save them time and money and make them healthier, more resilient and empowered. In 2016, we helped thousands in Uganda achieve a better quality of life by providing them access to these household solutions.

Despite our achievements, 2016 was a challenging year for FINCA. Part of the risk inherent in working in emerging markets is navigating political and economic uncertainties, and this year saw no shortage of them. Economic hardship in Azerbaijan, in particular, and the rest of Eurasia, related to fallen oil prices and currency devaluations in 2015, continued to make life challenging for many micro and small enterprises in that region. We took signi�cant losses there in 2016 as a result. FINCA has weathered such situations before and we can con�dently say that we have come through the worst of it. More than anything, this reinforces why people in challenging places need us, and why we must redouble our e�orts to keep reaching those who are overlooked or forgotten by mainstream banks.

We also must continue to focus our resources where we can have the greatest impact. As part of this e�ort, in 2016 we transferred our FINCA subsidiaries in El Salvador and Mexico to local, mission-driven organizations that share our commitment to delivering responsible �nancial services. For our hardworking sta� and clients in these countries, this is an opportunity to continue to grow under local leadership with companies that are also striving to reach low-income women and men. These changes have also helped FINCA to invest in innovative new solutions and scale up in communities and markets where we can reach more people.

Your role in bringing responsible �nancial services and other smart solutions to the poor is more crucial than ever. Donor support is the reason FINCA exists. Your trust in us has created the building blocks for growth and innovation. With that in mind, we ask you two simple questions: What will it take to create more ripples? What will it take to multiply the ripple e�ect across more communities for more people and more generations?

In any pond, a new ripple starts with dropping the �rst stone. At FINCA, each ripple represents the start of a brighter future. To increase impact, we must create more ripples. To create more ripples, we need more stones. We need you.

Together, we can alleviate poverty through lasting solutions that help people achieve self-reliance and change the future for generations to come.

A MESSAGE FROM LEADERSHIP

Robert W. Hatch, Chairman

Rupert W. Sco�eld, President

June 30, 2017

Robert W. Hatch Chairman

President

Letter from the Chairman and the PresidentDear Supporters,

FINCA has been a force for economic inclusion for the poor for over three decades. Women and men living in some of the world’s most challenging economies have long been unbanked, without access to the basic

sustainable impact and solutions for individual, family and community prosperity.

2016 at a Glance

1,622,867 $262.3 million $1.1 billionTOTAL CLIENTS TOTAL SAVINGS DEPOSITED TOTAL LOANS DISBURSED

“ At FINCA, each ripple

represents the start

of a brighter future.

To create more ripples,

we need more stones.

We need you.”

FINCA BANK GEORGIA 2016 ANNUAL REPORT5 6

entrepreneurs

FINCA BANK GEORGIA 2016 ANNUAL REPORT4 2016 FINCA INTERNATIONAL ANNUAL REPORT 5CREATING RIPPLES

APRILAfter a devastating earthquake hit Ecuador in April 2016, there were significant damages to our clients’ businesses in the Portoviejo region. For clients a�ected by the earthquake, FINCA provided a three-month grace period on loan repayments and helped to facilitate over $200,000 in insurance payouts.

JANUARY FINCA Ecuador, one of FINCA’s longest operating subsidiaries, celebrated 22 years of service. More than 25,000 low-income Ecuadorians accessed loans and other financial services in 2016.

Ingenico Group partnered with FINCA to deploy 50,000 biometric payment terminals in Africa. The terminals securely capture clients’ fingerprints to validate their identities prior to loan disbursement.

MARCHIn honor of International Women’s Day, more than 200 people joined FINCA in Washington, D.C., for a discussion of entrepreneurship and the gender gap.

FINCA celebrated Global Money Week. FINCA sta� in several countries, including Kyrgyzstan and Tajikistan, taught young children and teenagers the basics of financial literacy and the importance of saving.

MAY FINCA expanded its reach in Nigeria by launching agency banking, allowing Nigerians who live far from a branch to access financial services through agents equipped with point-of-sale machines in their local shops.

First Access and FINCA announced a partnership to create the world’s largest alternative credit-scoring

institution, enabling FINCA to process loans quicker and more e�ciently.

JUNE FINCA Azerbaijan launched a prepaid card as an alternative credit disbursement tool. The prepaid card can conveniently be used at shopping and service centers to perform transactions.

JULYFINCA Pakistan, one of the largest subsidiaries in the FINCA network, reached 100,000 borrowers.

In recognition of its use of biometric banking technology to reach the unbanked in the country, FINCA Zambia was awarded the Governor’s Award for Innovation.

AUGUSTFINCA Guatemala partnered with Entrepreneurial Finance Laboratory (EFL) to pilot test psychometric credit scoring. EFL uses alternative data such as psychometrics, digital footprints and cellphone usage information to assess clients’ repayment risk profile.

SEPTEMBERFINCA Democratic Republic of Congo reached a new milestone—over 74% of its transactions were done through agent banking. Clients bank through local merchants, making it more convenient to pay loans and receive funds.

OCTOBERAfter Hurricane Matthew hit Haiti, FINCA donors contributed more than $50,000 for an Emergency Recovery Fund to help a�ected FINCA clients rebuild their businesses.

NOVEMBERFINCA Georgia launched an

for children that covers topics such as savings, business skills and finance. The book has been shared with over 25,000 children.

DECEMBERFINCA Kosovo received

in recognition of its strong client protection policies. See page 8.

In 2016, poor families in Uganda received over 6,500 solar lanterns and clean cookstoves through FINCA’s social enterprise, BrightLife.

FEBRUARYSuzan Al Omari and Nadia Mohammed Marian, two FINCA clients in Jordan, won Citibank Microentrepreneurship Awards, recognizing their contributions to community development and building thriving businesses.

The Year in ReviewFrom Guatemala to Zambia to Kyrgyzstan, together we made many ripples around the world in 2016. These milestones spotlight our continued commitment to reaching more and more unserved populations with the innovative tools, services and products they need to build better lives.

Photo: Carlos Alaniz

HIGHLIGHTS FROM 2016

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FINCA Bank Georgia is a Joint Stock Company built on the platform developed for 18 years of operations

in the country. Being a part of global network of financial institutions indirectly owned by FINCA Microfi-

nance Holdings (FMH), a group comprised of shareholders such as FINCA International, USA, International

Financial Corporation (IFC, World Bank Group) - USA, KfW Bankengruppe, the German development bank,

FMO, the Netherlands development bank, responsAbility Global Microfinance Fund, an investment fund

advised by the Zurich-based asset manager responsAbility Social Investments AG, and Triple Jump, a Neth-

erlands-based microfinance investment manager – FINCA Bank Georgia, a new member of Georgian com-

mercial banking sector, is a well-capitalized institution, with strong corporate governance, and expertise in

financial services management. It has leading position in the field of micro financing.

JSC FINCA Bank Georgia identifies, pilots, and partners with other service providers to bring new life-en-

hancement services to clients, and funds cutting-edge research to track the benefits to clients allowing the

bank to better serve them and maintain a leading position in Georgian microfinance sector. FINCA Bank

Georgia is committed to ensure this through its commercial principles of performance and sustainability.

FINCA is grateful to all the corporate, foundation, bilateral, and multilateral partners who support our work

on long-range and large-scale initiatives. Our partners lend significant financial support, as well as technol-

ogy and know-how to enter new markets, deliver new products and services, and improve the efficiency

and effectiveness of our operations.

FINCA partners with numerous public-sector partners whose support has helped advance FINCA’s mission

worldwide. These agencies and government-funded bilateral and multi-lateral development organizations

have enabled FINCA to expand into new regions and new countries, create new products, improve service

delivery through technological innovations, develop non-develop non-financial services for clients and

have helped subsidiaries transform into regulated financial institutions.

FINCA Partners – United States Department of Agriculture (USDA), United States Agency for International

Development (USAID), Inter-American Development Bank (IADB), International Finance Corporations (IFC)

which is also one on the investors of FMH, United Nations Capital Development Fund (UNCDF).

FINCA Bank Georgia

FINCA BANK GEORGIA 2015 ANNUAL REPORT

FINCA Partners

9 10

1998FINCA Georgia - an affiliate of FINCA International Inc., a network of microfinance institutions based in Washington, D.C., with affiliates operating in 23 countries around the world - was established in Georgia. First loans were disbursed in Tbilisi in July 1998.

2011

FINCA launches FINCA Microfinance Holding Company LLC, the first-of-its-kind socially responsible investment partnership for microfinance and since 2011 JSC FINCA Georgia became as a subsidiary company of FINCA Microfinance Cooperatief U.A., with such shareholders on board, as FINCA International, USA, International Financial Corporation (IFC, World Bank Group)- USA, KfWBankengruppe, the German development bank, FMO, the Netherlands development bank, responsAbility Global Microfinance Fund, an investment fund advised by the Zurich-based asset manager responsAbility Social Investments AG, and Triple Jump, a Netherlands-based microfinance investment manager.

2013 In August 2013, FINCA Georgia received a banking license.

2014 FINCA Bank Georgia Surpassed 50 000 Borrowers Milestone.

2016 FINCA Bank Georgia became the first SMART certified financial institution

in the country.

FINCA Bank Georgia Loanched Personal Banking Business Line.

2015In February 2015, FINCA Bank Georgia started to offer retail deposit products - Savings Accounts and Term Deposits.

FINCA Bank Georgia issued bonds worth 20 mln. GEL with a 3-year tenor.

FINCA In Georgia Fact Sheet GENERAL INFORMATION

12FINCA BANK GEORGIA 2016 ANNUAL REPORT11

FINCA Bank Georgia

MICRO LOANSLOAN AMOUNT UP TO

1500 GEL Loan period up to 18 months

LOAN FOR SMALL AND MEDIUM ENTREPRENEURS

LOAN AMOUNT UP TO

60 000 GEL Loan period up to 60 months

RURAL LOANSLOAN AMOUNT UP TO

60 000 GEL loan period up to 60 months

REMITTANCESALL LEADING MONEY TRANSFER SYSTEMS

200 Countries All Over the WorldCURRENCY:

USD, EUR

REMOTE SERVICESInternet Banking

Mobile Banking

Telephone Banking

Standing Orders

Utility Payments

What We Offer

FINCA Bank GeorgiaMakes Difference

FINCA BANK GEORGIA IS IMPROVING ACCESS TO FINANCIAL SERVICES.

Sixty percent of the population in Georgia are financially excluded. FINCA provides not only bank accounts

but a full range of convenient, affordable and sustainable financial services that are tailored to people’s

needs – from small loans to savings and money transfers. FINCA provides not only bank accounts but a

range of convenient affordable and sustainable financial services that are tailored to people’s needs – loans.

FINCA IS MAKING A DIFFERENCEE:• Brings a local, trusted banking partner to communities around Georgia

• Reaches underserved people in urban and rural areas

• Provides opportunities for micro-entrepreneurs to improve their lives and their communities

• 79 % of total clients are from rural areas, who are potentially having limited access to financial services

or to convenient financial services.

• Over 80,000 people earn their livelihoods in the businesses that FINCA Bank Georgia finances, and 76%

of this figure is a direct result of the loans that FINCA Bank Georgia is providing.

DEPOSITSCURRENCY:

GEL, USD, EUR Maturity: unlimited Interest rate: high

ACCOUNTS AND CARDSVISA ELECTRONVISA CLASSIC

Service Packages

Multicurrency Current Account

PRODUCTS AND SERVICES

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FINCA Bank Georgia received the certi-

fication in recognition of FINCA’s com-

mitment to the best interests of clients,

which includes institutionalizing the

Smart Campaign’s seven Client Protec-

tion Principles. These principles include:

appropriate product design and deliv-

ery, prevention of over-indebtedness,

transparency, responsible pricing, fair and

respectful treatment of clients, privacy

of client data, and mechanisms for com-

plaint resolution.FINCA Bank GeorgiaBecame the first Smart Certified financial Institution in Georgia

FINCA BANK GEORGIA 2016 ANNUAL REPORT13

FINCA Bank Georgia received Client Protection Cer-

tification by the Smart Campaign, a global initiative

that certifies the adoption of high ethical standards

in the treatment of clients in the microfinance in-

dustry. FINCA Bank Georgia became the first SMART

certified financial institution in the country.

“We have always held a strong commitment to re-

sponsible banking as well as the well-being of our

clients. This independent validation lends credibili-

ty to our strict internal standards and policies and

our commitment to always treat our clients fairly

and ethically,” said Vusal Verdiyev, CEO of FINCA

Bank Georgia.

In extending congratulations to the bank,

Isabelle Barrès, Director of the Smart Cam-

paign, said, “We’re proud that FINCA Bank

Georgia became the first SMART certified insti-

tution in Georgia and has joined 44 other lead-

ing financial institutions to position itself as a

leader in client protection. Their deep commit-

ment to the well-being of their clients will serve

as a shining example for other microfinance

and financial institutions around the world to

pursue high standards for client protection.”

THE YEAR IN REVIEW

Asian Development Bank became FINCA Bank Georgia’s newest financial partner

Asian Development Bank became FINCA Bank

Georgia’s newest financial partner, providing a loan

of USD 7 million for on-lending to micro, small and

medium sized enterprises in rural areas of Georgia,

so that they can increase income, create jobs and

raise their standard of living.

The loan may be denominated in Georgian lari to

help boost local currency use and mitigate MSME

exposure to foreign exchange risks.

“With the signing of the loan agreement with FIN-

CA Bank Georgia and technical assistance agree-

ments through ADB’s private sector operations

with FINCA Azerbaijan and FINCA Bank Georgia we

are pleased to establish an important milestone in

our relationship with the FINCA microfinance net-

work in Asia in supporting farming and rural entre-

preneurship in Georgia and Azerbaijan,” said Rainer

Hartel, Director, Public Management, Financial Sec-

tor and Trade at ADB. “We are proud to work with

FINCA Bank Georgia and supporting the company

in going the extra mile to serve remote villages.”

“FINCA Bank Georgia has 18 years of experience

working with entrepreneurs in Georgia. We under-

stand their needs,” said Vusal Verdiyev, CEO of FINCA

Bank Georgia. “This partnership will help us provide

additional financing to both new and existing cli-

ents, who run agricultural, micro, small and medium

sized businesses in rural Georgia. As this loan may

be disbursed in Georgian lari, FINCA Bank Georgia is

well-positioned to respond to current market chal-

lenges and our clients will have the opportunity to

protect themselves from currency risks.”

From March 2016, FINCA Bank started to offer term

and cumulative deposits. The main advantages of

the deposits are high interest rate. In case of both

deposits the interest rate is guarantee. Customers

can add any amount to the cumulative deposit any

time. Term Deposit customers will get fixed high in-

terest rates.

Deposit account opening is free of charge. Cash

withdrawal is possible from all FINCA Bank service

centers throughout Georgia. For now FINCA Bank

offers 4 types of deposits – Term, Savings, Child and

Cumulative deposits.

FINCA BANK GEORGIA 2016 ANNUAL REPORT15

FINCA Bank Georgiastarted to offer

new deposit

On 31st of October – on World Savings Day FINCA

Bank Georgia launched a new interactive book for

schoolchildren – “My School Book”. The book con-

tent is designed for children from 7 to 14 and the

focus is made on the promotion of financial literacy

and business skills development. The book covers

topics like: what is money? Why do we save? And

offers stories of successful businessmen recipes for

business, quizzes and more!

The project is really unique and interesting. Re-

search shows that savings behavior is formed from

the very early age. As financial inclusion, financial

capability and sustainable livelihoods are essential

components of full economic citizenship, educa-

tional components like this are very important to

ensure that children from a very early age are well

equipped with the basics of financial literacy. FINCA

Bank is a pioneer in this very important field of mak-

ing this kind interactive content for children.

The content and design of the book was created

together with creative agency Windfor’s Commu-

nication. Fun and colorful illustrations help kids to

understand the main topics of the book and makes

it easy to remember. The content is created to en-

courage interaction with classmates who will make

projects together as a group.

As there are a lot fun tasks and quizzes in the book,

children can contact us to share their opinion and

thoughts through a special e-mail. There will be

special prizes and awards for the most active and

creative children.

The book was sent to FINCA Bank employees and their kids took the book to their schools so that more than 10 000 children in almost all regions of the country had access to the book, learnt the basics of financial literacy and had fun.

My School Book from FINCA Bank Georgia


FINCA Bank Georgia renovated service

center was opened in Batumi

FINCA Bank Georgia renovated service center was

opened in Batumi. Design of the service center is

unique and interesting. Purpose of the re-branding of

service centers is to improve speed of services, create

cozy and warm atmosphere for customers and em-

ployees of the Bank.

Savings Banks Foundation for International Coop-

eration (SBFIC) became a partner of FINCA Bank

Georgia. Memoranda signed by and between the

parties includes partnership in support and pro-

motion of responsible banking, financial literacy

and customer rights protection principles.

Savings Banks Foundation for International Coop-

eration will ensure participation of experts in FINCA

Bank Georgia projects related to financial literacy

and customer rights protection, which will have its

impact on improvement of financial literacy in the

important areas such as budgeting, business man-

agement, savings, customer rights, etc.

Memorandum of Understanding was signed by and betweenFINCA Bank Georgia and SBFIC

25th anniversary of the independence of

Georgia was celebrated with large scale

events. FINCA Bank presented an inter-

esting concept of special educational

game for kids. While playing the game

kids had the opportunity to visit mod-

eled bank, spend and earn money, open

account and save money, all banking

activities were integrated. Kids and their

parents had fun and everyone men-

tioned the importance of such games.

FINCA Bank Georgia celebrated

25th anniversary of Independence with Georgian

Government and kids


CSR PROJECTS

FINCA Bank Georgia became official

sponsor of “Diamond Challenge”

FINCA Bank Georgia joined Georgia Primary Education Project

FINCA Bank Georgia joined the campaign “Movla”

Social New Year Tree

FINCA Bank Georgia became official partner of

EMT- Education and Management team providing

financial and professional support to “Diamond

Challenge Georgia” for high school entrepreneurs.

According to the agreement signed between EMT-

Educational and Management Team and FINCA

Bank Georgia, Bank will cover administrative ex-

penses of the project and transportation fees of the

winning team, which will be representing Georgia

on final stage, in USA, April 2016. FINCA Bank Geor-

gia will provide professional support to the win-

ning team as well, and will assist Georgian finalists

in preparation of the project for the final challenge.

Diamond Challenge, a youth entrepreneurship ed-

ucation program, was created in 2012 with support

of Delaware University and a twofold purpose: to

expose high school students to entrepreneurship

as a viable career path, and to provide high school

students with an outstanding opportunity to learn

about the entrepreneurial process while attempt-

ing to put their ideas for new businesses into ac-

tion. EMT is official partner of Delaware University

and representative of the “Diamond Challenge” in

Georgia.

FINCA Bank Georgia is supporting Georgia Primary

Education Project (Ge-PriEd), as the bank shares the

goal of the project- providing business skills instruc-

tion to Grade 5-6 students in selected Georgian pub-

lic primary schools.

FINCA Bank coordinates with Ge-PriEd to support the

business skills training in the public primary schools

by identifying FINCA Bank representatives to deliver

the lessons in the selected schools as volunteers,

Starting from February, FINCA Bank Georgia volun-

teers’ team will conduct informative and interactive

trainings almost in all regions of the country to help

young generation gain business skills and create

brighter future for themselves and their community.

FINCA Bank Georgia joined the

initiative of the National Centre of

Manuscripts and celebrated old

New Year together with beneficia-

ries of the “Social New Year Tree”

Project.

FINCA Bank’s staff from all over the

country with great enthusiasm

joined the campaign “Movla” and

cleaned 10 big cities in Georgian and

Tbilisi Sea area. The aim of the cam-

paign is to clean the country and

raise awareness about environmen-

tal protection.


FINCA Bank Georgia supports Rugby festival

in Duisi among children aged 8-10

FINCA Bank Georgia supported U8 – U10 kids rugby festi-

val in Pankisi, village Duisi.

FINCA Bank is as supporter of kid’s rugby team in Pankisi

where more the 20 kids regularly train.

Support of these kids and events dedicated to healthy

lifestyle is very important for remote areas of the country

to ensure sports inclusion of the kids and foster creation

of self-development environment in remote areas of the

Georgia.


Financial Performance of FINCA Bank Georgia

23

DATA

Client Number

Loans disbursed in the period

2012

30,903

41,852

$ 43,487,880

$ 49,459,362

$ 63,094,522

$ 73,478,900

2013

5,981

48,623

$ 62,511,443

$ 64,041,993

$ 90,632,137

$ 93,129,627

2014

53,192

53,684

$ 71,219,150

$ 71,536,935

$ 97,800,877

$ 98,242,093

2015

54,581

54,655

$ 72,819,344

$ 72,847,469

$ 95,794,955

$ 95,794,955

2016

47,662

47,662

$ 77,763,600

$77,763,600

$95,977,972

$ 95,977,972

Individual Loans

Total

Individual Loans

Total

Individual Loans

Total

Audited Financial Statements

24

KEY FINANCIAL INDICATORS


Our Leadership:FINCA Bank GeorgiaLeadership FINCA International

Board of DirectorsRobert W. Hatch(Chairman, Founding Member)

John K. Hatch(Founding Member)

Rupert W. Scofield(Founding Member)

Richard M. Williamson(Founding Member)

John ElkinsAmanda Ellis

Peter EppHarold D. Jastram

Agrina MussaJames Semakadde

Dr. Fred SeymourDavid E. Weisman

Her Majesty Queen RaniaAl-Abdullah of JordanDirector Emeritus

Advisory Board Margaret S. Blakey

Eugene P. Ericksen

Angéline Fournier

Robert Graham

John Hatch Jr.

Kristin G. Hatch

Aleen Keshishian

Charles Loveless

Rebecca Minkoff

Rosalie Swedlin

Colston Young

FINCA Canada

FINCA Canada is a charity registered with Canada Revenue Agency (Registration No. 805686144RR0001).

Board of DirectorsRupert W. Scofield (Chairman)

Fred Di Blasio

Soledad Gompf

Jacquie Green

Michael Green

Allison Scuriatti

Linda Wolfond

Senior Management

Stephanie Emond

FINCA United Kingdom

FINCA FINCA UK is the working name of The Foundation for International Community Assistance (UK), a company limited by guarantee under company number 06717649. FINCA UK is a registered charity in England and Wales under registration number 1127778.

Board of Directors

Rupert W. Scofield (Chairman)

Dane Steven McGuire

Federico Pirzio-Biroli

Damien Tanner

Mahdi Yahya

Supervisory Board

Jeff Flowers (Supervisory Board Chairman)

Dane Steven McGuire (Supervisory Board Deputy Chairman)

Keith Gary Sandbloom (Supervisory Board Member)

Radoil Mitov (Supervisory Board Member)

Paul R. Clark (Supervisory Board Member)


Senior Management

Rupert W. Scofield,President

Allison Scuriatti,Executive Director

Ami Dalal,Vice President of SocialEnterprise Innovation

Soledad Gompf,Senior Vice President andPhilanthropy Advisor

Scott Graham,Director of Research andNew Business Initiatives

Franca Rofe,Vice President, Human Resources

Jeffrey Smith,Vice President, Chief Audit andRisk Officer

P. Dan Smith,Assistant Corporate Secretary

Debra Spagnola,Chief Financial Officer

Colleen Zakrewsky,Chief Development Officer

*As of June 30, 2016

Management TeamVusal Verdiyev (Chief Executive Officer)

Giorgi Mirotadze (Chief Financial Officer)

Giorgi Samadashvili (Chief Operating Officer)

DIRECTORS, ADVISORS AND MANAGEMENT*

www.FINCA.ge www.facebook.com/FINCABank.ge

Documents

2016 - finca.ge · At FINCA, each ripple represents the start of a brighter future. To increase impact, we must create more ripples. To create mo re ipple s, we need mo e stone