BAKU, Azerbaijan, Feb. 14
By Tamilla Mammadova – Trend:
There are a total of 46 microfinance organizations (MFO) operating in Georgia, Trend reports referring to National Bank of Georgia.
As reported, the total value of their assets, according to the consolidated report, is 1.4 billion lari ($489.7 million).
The key players of the microfinance market have already published their financial reports. According to the documents, both in terms of assets and net profit, Rico Express MFO is ranked as the first. The MFOs assets amounts to 390 million lari ($136.4 million), while the profit – 38.9 million lari ($13.6 million).
The Microfinance organization "4 Finance" (commercial name Vivus) has the biggest loss. Vivus's loss totaled 6.1 million lari ($2.1 million) last year. The main reason for the loss is changing the game conditions on the credit market, as a result of which the volume of “online loan" has significantly reduced on the market.
TOP 10 of MFOs by net profit:
|
MFO |
Net Profit (lari) |
Net Profit (USD) |
|
Rico Express |
38.87 million lari; |
$13.5 million |
|
Crystal |
5.92 million lari; |
$2 million |
|
Swiss Capital |
3.60 million lari; |
$1.2 million |
|
Micro Business Capital |
2.87 million lari; |
$1 million |
|
MFO Intel Express |
2.71 million lari; |
$948,007 |
|
Credit Service |
2.27 million lari; |
$794,087 |
|
Bermel |
2.01 million lari; |
$703,134 |
|
Smart Finance |
2.01 million lari; |
$703,134 |
|
Bini Credit |
1.52 million lari; |
$531,723 |
|
Invest Georgia |
904,092 lari |
$316,267 |
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