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Message from the Executive Director

Prof. Ass. Dr. Bajram Mucajtl_files/pic/director.JPG

Dear Shareholders, Clients and Partners,

 

The financial results of 2016 provide us with an excellent basis to continue successfully on the chosen path. The net profit of Fondi BESA for year 2016 was ALL 402,6 million, or 40% more than in year 2015.

 

Year 2016 was characterized by positive economic developments and improvements in some of the key macroeconomic balances. According to the Institute of Statistics (INSTAT), the Albanian economy grew by 3.5% in 2016, compared to the 2.6% growth rate recorded in 2015. Economic growth creates new challenges for small and medium entrepreneurs who are also the focus of our financial support, but, at the same time, it offers new opportunities to beter serve them. Together with the institution, we aim to empower clients to stay a step forward in life and business.

 

Fondi BESA continued to be the first choice for 19,275 clients, who were financed during 2016, with a total value of ALL 6.1 billion or 10.6% more than last year.

During year 2016, the total loan portfolio growth was 10.7%. With an activity of 29,895 clients and a loan portfolio of ALL 7.0 billion during 2016, our goal was to attract new customers, resulting in 49.90% of all disbursements of the year, while maintaining and improving ongoing relationship with existing customers. The level of active clientele  retention is 67%. These are indicative efforts to ensure continuity of activity and a steady growth in the coming years.

I would like to emphasize the fact that the portfolio quality continues to remain at low levels, 3.03% at the end of December 2016.

 

During 2016, we focused our efforts on three priorities: excellent customer service, improved financial results and better positioning in the market. As a client-oriented, non-bank financial institution, it is our mission to give a significant contribution in supporting our clients. Our strategy to focus on customers’ needs has prompted the institution to design financial products tailored to their demands.

Relying on the principle of quality customer service, our aim in the future remains to  become a strengthened factor in the Albanian microfinance market and a key institution for current and potential customers.

 

Having a clear vision for the future, Fondi BESA continues to respond to the country's economic and social development, such as increasing competition, changing consumer behavior, technological developments, etc. Fondi BESA is increasingly strengthening its position as an institution closer to the client, aiming to be successful and long-term in support of clients, employees and society as a whole. During 2016, we expanded our activity with a new Regional Branch and three satellite offices to increase the institution's effectiveness by expanding its presence in the target market.

 

With a staff of 464 employees, we aim to be a responsible employer that provides employees with good working conditions and opportunities for growth. Therefore, we strive to create a cooperative, open, innovative and energetic culture that attracts and motivates employees. We provide training and opportunities for staff to be professionally developed. We see this as part of our responsibility as an employer. Compared with the previous year, in 2016 there was a staff increase of 53 employees or 11% compared to the previous year.

 

Our financial results form a strong basis for further improvement of our performance. This is the only way to achieve our goals. In continuity, at the basis of our work and efforts to accomplish the objectives and fulfill the mission, Fondi BESA will maintain the principles of transparency, integrity and correctness.

 

As the Executive Director of Fondi BESA, I would like to express my gratitude to the efforts, commitment and performance of the entire staff that have made possible the success even during 2016. Together, we will make a stronger and successful institution - an institution that will create value for customers, staff, shareholders and the entire society.

 

Sincerely

 

Prof. Asoc. Dr. Bajram MUÇAJ

Executive Director

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