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Mikro Kapital Moldova

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Mikro Kapital Moldova MOLDOVA As of March 2021 www.mikrokapital.md About Mikro Kapital Moldova Mikro Kapital Moldova is a non bank credit organization that provides loans to micro and small enterprises and private individuals in Republic of Moldova. Mikro Kapital in Moldova is part of Mikro Kapital Group (registered in Luxembourg). At December 2020 year Mikro Kapital Group has had about 838 Millions EUR assets under management with operations in 14 countries. Short History: • 4th April 2013 - Credit CMB was opened in Chisinau • May 2014 - 3 new offices were opened in Balti, Soroca and Drochia • April 2015 - the 5th office was opened in Comrat • July 2018 - the 6th office was opened in Edinet • March 2019 - the organization’s name Credit CMB was changed to Mikro Kapital Company • December 2019 - the 7th office was opened in Cahul • June 2020 – the 8th office was opened in Chisinau Mikro Kapital in Moldova at I Q 2021: • 65 employees, • 8 offices that cover major territory of Moldova, • More than 6000 loans or 53 mln EUR disbursed since foundation, • More than 10,300 clients served. Financial sector of Moldova Gross loan # Name of NBCO Total Assets portfolio The financial sector in Moldova is represented by: 1 OCN MICROINVEST SRL 2 583 550 373 2 255 562 394 11 Commercial banks 2 OCN EASY CREDIT SRL 909 415 621 884 946 394 3 OCN IUTE CREDIT SRL 773 128 202 743 345 000 4 OCN BT LEASING MD SRL 600 457 029 - 154 active non-bank credit organizations (NBCO) 5 OCN SEBO CREDIT SRL 421 103 012 468 885 504 6 OCN ÎCS EXPRESS LEASING & MICROCREDIT SRL 412 411 947 379 197 157 Microfinancing in Moldova is regulated by law “About Non - bank 7 OCN MIKRO KAPITAL COMPANY SRL 391 314 251 364 720 676 Credit Organizations ” No.1 from 16/10/2018. 8 OCN VICTORIA LEASING&FINANCE SRL 354 537 070 64 872 930 9 OCN CREDIT RAPID SRL 348 982 699 319 572 961 NBCO in Moldova are monitored and supervised by National 10 OCN PRIME CAPITAL SRL 300 406 035 298 288 911 11 OCN MAIB-LEASING SA 283 611 449 7 908 639 Commission of Financial Market. 12 OCN CAPITAL LEASING SRL 257 603 673 2 365 242 13 OCN MOGO LOANS SRL 250 073 550 261 591 381 At end of year 2020, Mikro Kapital Moldova was on the 14 OCN CORPORAȚIA DE FINANȚARE RURALĂ SA 211 089 818 156 584 726 5th place by GLP volume and on 7th place by Total Assets 15 OCN FINANCE LEASING COMPANY SRL 202 893 213 14 416 645 16 OCN SFF LEASING&FINANCE SRL 197 040 976 183 074 406 in ranking of Non-bank Credit Organizations of Moldova. OCN Compania de leasing LOCUINȚA ACCESIBILĂ 17 SRL 174 367 870 7 845 988 source: cnpf.md 18 OCN TOP LEASING&CREDIT SRL 140 789 867 124 302 748 19 OCN ÎCS TOTAL LEASING & FINANCE SA 110 357 834 47 731 818 20 OCN BEST INVEST SRL 109 742 354 117 531 473 Organizational Structure Our team is young, dynamic and progressive. Our experts have strong knowledge in financial analysis based on EBRD approach as well as in-field experience in micro lending. The company’s key personnel Sergiu Turcanu CEO Born in 1987, has been with Credit CMB (now Mikro Kapital Company) for 6 years and is the company’s CEO since May 2017. He graduated the Moldova's State University of Economics, faculty Economics, Finance and Banking. After graduating, in 2008 he began his career at ProCredit Bank Moldova as a credit expert. Then he continued the career at Microinvest. In 2014 he joins Credit CMB team as a credit expert, then becomes director of Chisinau branch office in 2016. Natalia Chitoroaga CFO Born in 1978, is the company’s CFO from January 2018. She has been with the company for 5 years. She graduated the Academy of Economic Studies of Moldova with a degree in Finance and Insurance. Started her career at the Treasury under the Ministry of Finance of the Republic of Moldova. After that, she worked in a production company with more than 2,000 employees. She has extensive experience as a chief accountant in manufacturing, service and trade companies. Natalia joined Credit CMB in September 2015 and she was working as the chief accountant in Credit CMB until her promotion as CFO. Andrei Popa Internal Born in 1984, joined Mikro Kapital Moldova (at that time – Credit CMB) in 2018, being responsible for Auditor implementation and developing of internal audit activity, as per group standards. Andrei graduated Academy of Economic Studies of Moldova in 2007 and then joined ProCredit Bank team, as Junior Auditor. Then he continued his career as internal auditor in BCR Chisinau Bank (part of Erste Group) and later in Orange Moldova (mobile operator), being on position of Internal Controls responsible, Risk Management officer and later Senior Auditor. Constantin Girleanu Regional Born in 1984, joined Mikro Kapital Moldova since the first year of operation, in 2013, as loan officer. In 2018 he Manager was promoted to branch manager of Chisinau branch. Since 2019, Constantin is the regional manager South South covering Chisinau, Comrat and Cahul branches. Prior to Mikro Kapital, he worked for 2 years (2011-2013) in Microinvest as loan officer and lately as branch manager. He started the career at Moldova-Agroindbank in 2007 as loan officer. Constantin graduated the Academy of Economic Studies of Moldova in 2006. Inna Edu Regional Born in 1987, joined Mikro Kapital Moldova in 2014 as branch manager in Balti. Since start of 2018, Ina is the Manager regional manager North, covering Balti, Drochia, Edinet and Soroca branches. Between 2008-2014, she worked as Norht loan officer and then credit analyst at ProCredit Bank. Ina graduated in 2008 the Moldovan State University, Faculty Economics, licensed in Business and Administration. She also obtained master’s degree in financial management at the same university. Audited financial results Indicator 2017 2018 2019 2020 Key indicators' evolution, EUR 20 000 000 Loan 6 322 424 11 048 742 14 400 427 17 597 920 18 000 000 Portfolio* 16 000 000 Disb. 6 561 930 10 623 828 12 243 764 13 933 486 14 000 000 Average 12 000 000 9 242 10 079 9 433 10 476 disb. 10 000 000 Company’s 8 000 000 219 755 411 367 251 351 388 382 profit 6 000 000 PAR 30+ 1.38 % 1.37 % 2.35% 2,80% 4 000 000 Equity 1 986 507 2 460 552 2 992 450 4 037 239 2 000 000 0 ROE 11% 16,70% 7,90% 11,5% Loan Portfolio* Disb. Company’s profit Equity 2017 2018 2019 2020 *Amounts in EUR External Auditors – Grant Thornton for year 2019 and 2020 Financial Products Mikro Kapital Moldova offers a range of solutions to our clients taking into account the individuality of every business. The financing is provided in the form of: - Loans for business (for micro and small business clients) - Loans for agribusiness (for farms and agro companies) - Loans “Home” (to improve living conditions by purchasing apartments/houses) - Rapid loans (fast track loans) (small working capital needs, acq. of small value fixed assets, other purposes) - Consumer Loans. • 500-25000 EUR with guarantee Loan • 25001-50000 EUR with collateral of movable assets amount • 50001- 150000 EUR with collateral of real estate • Up to 24 months for working capital Loan duration • Up to 48 months for investment loans • Up to 84 months for mortgage loans • Monthly equal repayments Payment • Flexible schedule subject to seasonal character of schedule the business. The structure of portfolio by branch and product at March 2021 Portfolio breakdown by branch Mikro Kapital Moldova provides financing mainly to micro, small and medium entrepreneurs. Through the 8 offices, of which 2 in Chisinau, Chisinau 2 (Calea Iesilor) we aim covering the full territory of Moldova. Cahul 6% 4% Chisinau Edinet 28% Portfolio breakdown by product 9% Credit Auto Credit Home 1% 13% Comrat 13% Consum credits Credit for 2% Business 38% Drochia Balti 8% 17% Soroca 15% Credit for The Credit Agro represents 46% of portfolio. The Agro portfolio Agriculture 46% has increased by almost 7% since mid 2020 year. Operational and Financial Results (management reporting) Portfolio quality evolution MFI Factsheet MDL Despite COVID 19 pandemic and severe draught in 2020 year, 400 000 000 12,0% at end of year the GLP reached 380 mln MDL or about 18 350 000 000 mln EUR (a groWth of 31% in comparison with end of 2019 9,6% 10,0% 300 000 000 8,2% year). 250 000 000 8,0% 200 000 000 6,0% During the year 2021 the groWth has continued and reached 4,7% 150 000 000 4,0% about 4% at March 2021. 100 000 000 3,2% 2,2% 50 000 000 2,0% 0 0,0% 2017 2018 2019 2020 2021-3 Gross Loan Portfolio PAR30 +rescheduled Portfolio size MFI Factsheet MDL The portfolio quality has worsened in 2020 year, from 4.7% 400 000 000 1800 to 8.2 % for PAR>30 +restructured. 350 000 000 1600 300 000 000 1400 The restructured portfolio has increased because of draught 1200 250 000 000 1000 which affected the agricultural producers mainly from South 200 000 000 800 and Centre of Moldova. 150 000 000 600 At the same time, the COVID 19 technical restructured loans 100 000 000 400 are performing quite well. 50 000 000 200 0 0 2017 2018 2019 2020 2021-3 Gross Loan Portfolio Number of borrowers Operational and Financial Results (management reporting) PAR 30 and risk coverage MFI Factsheet 12,0% 120% 10,0% 100% 0,0% 0,9% 8,0% 80% 6,0% 60% 0,3% 9,6% 4,0% 8,2% 40% 0,2% 0,8% 2,0% 4,7% 20% 3,2% 2,2% 0,0% 0% 2017 2018 2019 2020 2021-3 PAR30 +rescheduled Write-Off Ratio Risk coverage of PAR30 Despite the deterioration of the portfolio quality in 2020, the company has managed to maintain a good risk coverage level (PAR >30 days + rescheduled loans) - at 60-65%.
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