FINCA Bank Georgia - Strong Financial Performance and Support of International Partners Allow us to Smoothly Continue Business Operations in the Country
The year 2019 for FINCA Bank Georgia was the year of new initiatives, challenges and opportunities.
The most impacting challenges for the bank were changes introduced in the regulatory and macroeconomic environment since Q2, 2018 and the bank’s response resulted in 2019 annual net profit of 6 792 588 GEL, positive indicators of ROE 13.19% and ROA 2.43%.
Strong financial indicators of 2019, clear vision and effective crisis management strategy allowed us to smoothly cope with and respond to new challenges now caused by COVID19: we quickly and successfully adapted to new operating environment and ensured that the branches, as well as back offices are well equipped and prepared to continue business as usual taking into account all preventative measures and requirements of the government and the world health organization.
FINCA Bank is a well-capitalized financial institution, fully compliant with the NBG regulatory requirements. As of end of March the capital ratio of the bank reached 20.85% (minimum required 13.5%) which is a result of strong performance and the sound liquidity management of the bank.
As a result of positive financial indicators and business development trends in 1Q 2020, in April the bank already attracted funds from international financial partners such as BlueOrchard (4 million GEL) and Symbiotics (15 million GEL) - this partnership will enable us to continue serving our clients, especially those, whose businesses were adversely affected by COVID19, increase our outreach to more micro and small enterprises in rural areas to foster accessibility and financial inclusion, fully digitize loan processing process and fine-tune procedures aiming at offering quick services to customers. With this support we will launch additional sales channels to increase accessibility to clients, develop new banking services and products to ensure that clients smoothly get the services and products they need in all regions of the country where FINCA Bank Georgia operates.
With its strong financial performance, FINCA Bank Georgia continues fulfillment to its financial liabilities with regards to its employees, depositors, shareholders and international financial organizations. According to FINCA Bank Georgia's strategy for 2020 and beyond, all key initiatives will be directed in two main directions: increasing competitive positioning in the market and ensuring high efficiency of digitalization processes.