FINCA Bank Georgia First SMART Certified Financial Institution in Georgia

FINCA Bank Georgia became the first SMART certified financial institution in Georgia in recognition of its commitment to the best interest of its clients - announced FINCA Bank representatives at a press conference held on April 20th.

The SMART Campaign includes seven Client Protection Principles: transparency, responsible pricing, privacy of client data, fair and respectful treatment of clients, mechanisms for complaint resolution, appropriate product design and delivery, and over-indebtedness prevention. FINCA Bank Georgia met all these principles.

“Georgia has a very progressive market. The regulators certainly believe in the importance of protecting Georgian clients. So it is an enormous opportunity for FINCA Bank Georgia to represent the mission of FINCA, to take steps forward to make sure that Georgian clients have access to responsible finance,” Andree Simon, Co-CEO, FINCA Microfinance Holding Company told GEORGIA TODAY.

FINCA Bank Georgia has been offering responsible financial services to small and medium-entrepreneurs for more than 18 years to build assets create jobs and increase the standard of living. 79% of total clients are from rural areas, who have potentially limited access to financial services or convenient financial services. Over 80,000 people earn their livelihoods in the businesses that FINCA Bank Georgia finances.

In 2013, FINCA Bank Georgia obtained a banking license and since then has been offering a full range of banking services to its clients, including deposits.

“We have always held a strong commitment to responsible banking as well as the well-being of our clients. This independent validation lends credibility to our strict internal standards and policies and our commitment to always treat our clients fairly and ethically. We are extremely proud to be the first financial institution in Georgia to receive the SMART Campaign Certificate. FINCA Bank Georgia now joins the exclusive group of 44 financial institutions globally having received the certificate for being leaders in client protection,” Vusal Verdiyev, CEO of FINCA Bank Georgia said at the press-conference.

FINCA Bank Georgia is a Joint Stock Company offering financial services to more than 90, 000 clients via 40 branches nationwide. With a loan portfolio of over USD 70 million at the end of 2015, FINCA Bank Georgia is a part of the FINCA Global network, serving nearly 2 million clients in 23 countries with a double bottom line of financial sustainability and social performance.

Meri Taliashvili

25 April 2016 20:10