Welcome to new MFC member: „FinCredit“ Ltd. Banja Luka – microfinance institution from Bosnia and Herzegovina.
The Mission of “FinCredit” Ltd. Banja Luka is to become a flexible, well-organized, socially sensitive, pro-active microfinance institution, ready to respond to all demands of customers and competitors, thanks to its distinctive and efficient principles of work and professional and agile labor force for the purpose of creating credit products according to the needs and capabilities of clients and encouragement to the development of the local and wider community.
Microfinance has a huge impact on the local and wider community on the territory of Bosnia and Herzegovina for the reasons of the economic crisis and the current present economic inactivity, due to which there was a shutdown of large industrial and commercial systems and there was the fragmentation of economic activity in the form of small economies at home, and theirs the most effective source of funding is precisely a microcredit sector.
The Vision of MFI “FinCredit” Ltd. Banja Luka is to become a recognized microfinance institution in the financial market of Republika Srpska and the Federation of the Bosnia and Herzegovina, with a focus on the niche of agriculture clientele, budget employees and entrepreneurs, equally represented in urban and rural areas, with developed and adapted operational techniques for both areas of activity, focused on customer satisfaction and the satisfaction of the local community, which would ultimately result in a profit of microcredit institution.
Types of clients:
Regardless of their purpose, loans are mainly given to individuals while the participation of legal entities is negligible.
The total number of clients on December 31, 2017 was 4,602 clients, out of which 1,616 were women and 2,986 were men. The number of clients engaged in agriculture is 869 and they are mainly rural farms that representing the target client group for our MFI (42% of total placements are distributed to farmers).
With their loans “FinCredit” also supports the development of service activities such as trade, catering and various craft activities. The housing loans and household loans have been given to the clients who have permanent employment and regular cash benefits.
Considering that Bosnia and Herzegovina is a developing country with a low-income population and low level of GDP per capita (3,500 EUR per anno) compared to the world average, “FinCredit” orientation towards socially sensitive groups of the population, who are mostly engaged in agriculture, aim an improvement of the community and business in general.
Types of services:
MFI FinCredit ltd. Banja Luka has the following products in its offer:
- Loans for agriculture,
- Loans for entrepreneurs,
- Housing loans – a loans for the purchase, construction, adaptation
- Loans for vehicle insurance (cooperation with Euros osiguranje Banja Luka)
- Non-essential household loan,
- Commodity credit (cooperation with commercial companies for the purchase of household appliances and other techniques, financing of procurement of goods, etc.),
- Quick cash loans
According to the sectoral structure of loans on December 31, 2017, agriculture loans are 42% of the largest share, than there are services which go for 26%, 19% for the housing loans, there are and loans for general consumption with 12% in total.