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June, 2010

General Presentation


    

GLP US$ 77 million Assets US$ 110 million Up to 2% of all finance sector assets 38 registered MFIs, including 10 registered at MIX Market which conducts micro-lending Stimulates income to make clients sustainable rather than direct poverty alleviation


Average All MFIs 2008

Av. Non-Bank MFIs 2008

Crystal 2008

Crystal 2009

Debt to Equity

3.73

3.16

2.63

2.87

Avg. loan per client

2,250

1,792

1012

1441

ROA

2.23%

3.49%

8.41%

6.43%

ROE

3.66%

7.01%

35.86%

25.71%

Revenue/Assets

33.72%

36.79%

43.79%

36.91%

Portfolio Yield

41.84%

46.30%

48.40%

56%

Operating Exp/Assets

18.85%

19.85%

24.68%

21.24%

Operating Exp/Port

23.29%

23.96%

27.50%

28.50%

Cost per borrower

405

348

232

372

Clients per staff

58

64

59

62

PAR > 30 days

6.16%

7.48%

1.79%

2.59%

Write Off Ratio

0.41%

0.21%

0.36%

4.50%

326

113

70

85

Indicators

Personnel


"To offer the wide range of high quality financial services to micro and small entrepreneurs throughout Georgia"  Accessibility  Responsibility  Transparency  Cooperation  Professionalism


1998

Established as micro-lending program of CHCA

2004

Instituted as Crystal Fund

2007

Transformation into the Joint Stock Company

2010

Equity US$ 1.4 million; US$ 5.2 million GLP, 5,200 clients, 14 offices, 95 staff


Archil Bakuradze

Nikoloz Loladze

Clare Titcomb

Alu Gamakharia


Lenders:  Cordaid  Deutsche Bank  DWM  EBRD  IFAD/ADA  Oikocredit  Symbiotics  Blue Orchard  Oxfam/Novib Fund  TBC Bank

Donor Agencies:  USAID  UNHCR  SV  IRC  SCF  CGAP  Chemonics  Triple Jump  UNDP


IMERETI REGION 

Kutaisi (3), Samtredia, Khoni,

SAMEGRELO REGION 

Zugdidi, Poti, Senaki, Tsalenjikha, Chkhorotshku

GURIA REGION 

Ozurgeti, Lanchkhuti,

ZEMO SVANETI 

Mestia

EAST GEORGIA 

Tbilisi


      

Loans to micro-entrepreneurs and farmers Existing businesses & start-ups, loans from US$ 100 to US$ 10,000 (max. up to US$ 30,000) Flexible collateral (no mortgage before $ 5,000) Interest rates: from 18% to 36% Loan duration: 4-36 months Headquartered in Kutaisi, focus on regions (95% outside Tbilisi; 40% - rural clients; 51% - female) Access to GEL financing for micro-business


INDICATORS

Loan Portfolio Total Assets Average Loan Size Portfolio at risk (>30) Operational Self-Sufficiency Financial Self-Sufficiency Profit Margin Portfolio yield ROA ROE Debt / Equity ratio Operational Cost/Assets # of Active Clients % of Female Clients # of total Personnel # of total branches/outlets

2009 audited

2008 audited

2007 audited

2006 audited

$ 4,269,662 $ 5,592,366 $ 1,441 2.59% 124% 112% 18% 56% 6.3% 24.2% 2.87 21% 4,534 51% 85 14

$ 4,135,751 $4,701,912 $ 1,230 1.79% 129% 110% 21% 48% 8.41% 35.86% 2.63 24% 4,104 49% 70 13

$ 4,704,022 $ 5,165,816 $ 812 0.40% 123% 116% 19% 41% 5.19% 22.54% 4.06 19% 6,365 48% 58 12

$ 1,731,124 $ 2,451,309 $ 591 4.84% 105% 97% 4% 47% 1.15% 3.06% 2.35 18% 5,031 48% 35 6


          

Loan Portfolio - $ 5,176,012 Total Assets - $ 5,656,107 Active clients – 5,194 PAR>30 – 0.93% Write-off ratio - 0.42% Restructured loans – 0.80% Loan Loss Reserve – 2.63% Risk Coverage Ratio – 282% Average loan size - $ 1,359 Average portfolio per LO - $ 143,778 Average loans per LO - 144


    

Team of seasoned managers with the vast experience in microfinance Rigorous internal control and risk management Effective management and governance structure Organizational culture based on integrity, transparency, innovation and determination Effective credit and risk management process allowing flexible, straightforward approach to clients combined with prudent screening Well-developed infrastructure of 14 offices with fully integrated cash management and IT systems


      

Expansion of loan portfolio through new marketing mix Prudent screening and robust (ethical) collection approaches Increase of GEL financing to meet demand of rural clients Improve social return measurement New financial services mandated by regulator 10,200 active clients; US$ 16 million GLP US$ 11.7 million of new debt and equity


RATIOS

Gross Loan Portfolio Total Assets Portfolio yield Operational Cost Ratio Portfolio at risk (>30) Adj. Return on Assets Adj. Return on Equity # of Active Clients Average Loan Size # of total/credit personnel Caseload per officer # of total branches/outlets New debt financing New equity financing Debt to Equity Ratio

2010

$ 7,629,019 $ 8,139,598 44.50% 22.80% 2.50% 7.40% 26.50% 6,200 $ 1,620 100/53 151 14 $ 5,160,540 $ 567,969 3.26

2011

$ 11,727,924 $ 12,275,376 43.10% 19.70% 2.40% 10.50% 35.50% 8,200 $ 1,880 118/59 167 15 $ 3,272,123 3.51

2012

$ 16,247,227 $ 16,982,606 41.50% 17.00% 2.00% 12.00% 39.00% 10,200 $ 2,140 131/70 192 16 $ 3,304,063 3.29


Mr. Malkhaz Dzadzua, CEO #72 Tamar Mepe St. Kutaisi, 4600 Georgia Tel: (+995 331) 5 34 33 Fax: (+995 331) 4 10 76 Mobile phone :+995 77 462 865 www.crystal.ge

Crystal - Georgian Micro Finance Institution  

Powerpoint presentation from 2010 about the work of the Georgian MFI Crystal

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