In response to a recent interview with Giorgi Gugava published on August 1, 2016, whereby Mr. Gugava (who in his interview spoke on behalf of the leaders of Labor Party) claimed that “the candidate of Georgian “Dream” party in Khobi, Goderzi Bukia, owns FINCA Bank Georgia, we are compelled to provide clarity as to our ownership and structure.
FINCA Bank Georgia is a Joint Stock Company and part of a global network of financial institutions owned by the FINCA Microfinance Holding Company (FMH). FINCA Microfinance Holding Company LLC (FMH) is a social investment partnership that owns and operates microfinance institutions and banks in 23 countries across five continents.
FINCA’s subsidiaries provide responsible financial services to low-income individuals and their communities, helping people to build assets, create jobs and raise their standard of living.
We operate our microfinance network using commercial principles and with a mission to deliver both sustainable financial results and positive social impact. The majority owner of FMH is FINCA International, a United States based not-for-profit organization. FMH’s minority shareholders include IFC, a member of the World Bank Group; KfW, the German government-owned development bank; FMO, a Dutch development bank: responsAbility Global Microfinance Fund; Netherlands-based Triodos Bank; and Triple Jump, a Netherlands microfinance investment firm. FINCA Bank Georgia has operated in Georgia for 18 years as a Microfinance Institution and is now a new member of Georgian commercial banking sector.
FINCA Bank Georgia is a well-capitalized institution, with strong corporate governance, and expertise in financial services management.
FINCA is a pioneer of micro lending – for 15 years providing financial services to entrepreneurs in all regions of Georgia. In 2013, FINCA received a banking license and offers full range of banking services to customers. FINCA is making a difference: provides opportunity 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.
FINCA Bank Georgia, as a member of Georgian commercial banking sector, operates under the supervision of the National Bank.
Political neutrality is one of the core principles of FINCA Bank Georgia. We are committed to delivering responsible and impactful financial services as have no political affiliation and endorse no political parties. FINCA Bank Georgia has always been proud of our transparent and responsible banking services that we offer to more than 100 000 clients.
We do hope that unverified and defamatory statements about FINCA will not be spread in the future. For more information about FINCA Bank Georgia’s ownership, structure and services we offer to thousands of Georgians, please visit www.FINCA.ge