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wliuri angariSi

2013 Annual Report


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