Revenue Of Microfinance Organizations Reduced By 3.4

Revenue Of Microfinance Organizations Reduced By 3.4

Revenue of microfinance organizations reduced. Last year, microfinance organizations operating in Georgia had net revenue of 44.5 mln GEL, which was 3.4 times less than in 2016. To compare, in 2016, net revenue of MFOs was 151.8 mln GEL.

last year’s MFO’s net revenue was the smallest of the last 6 years. For comparison: in 2015, net revenue of the sector was 124.2 mln GEL, in 2014 – 79,8 mln GEL, in 2013 – 61.9 mln GEL and in 2012 – 49.3 mln GEL.

By the end of 2017, 75 microfinance organizations operated in Georgia. The leader in employment rate is Chrystal. The company has 896 employees. Number two is Rico Express with 342 employees and CreditService+ with 335 employees. Chrystal has the biggest number of service centers and branches – 58 in total.

Last year, microfinance organizations issued 794 481 loans. The biggest share is held by consumer loans (592 816), followed by trade and service sectors (70 508) and agriculture and forestry (39 781). Loans issued by microfinance organizations last year made the total of 1 136 950 694 GEL, of which 671 352 864 GEL was the amount of consumer loans.

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