Dear Investors and Shareholders of Georgian Credit

Year 2016 was a significant and challenging year for Georgian Credit. After rapid expansion in the 2015, in 2016 we directed all our efforts and resources towards the capacity building and enhancing the profitability of the branch network. In 2016, we also managed to improve our equity ratio by raising the capital in May 2016 and improving the covenants, which allowed the Company to attract additional Institutional Funding up to USD 2 Million from international investment funds in the third quarter of 2016. As a result, we achieved the portfolio growth by GEL 6 Million in the last quarter alone.

New Funding

In February 2017 Georgian Credit secured a new deal and raised USD 1 Million in unsecured senior loan from Symbiotics SA, a Swiss based international fund.

The received funds will be invested in further development of GC services and improvement of the overall performance of the branch network.

Capital Increase

Georgian Credit increased the share capital by the amount up to GEL 1 million in March 2017 and a new German investor joined the Company as a Shareholder.