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Summarizing results for the first half of 2009, the Company is glad to announce to its clients and investors that six more sub-offices have successfully started their operation.
In Chui oblast, which is serviced by Bishkek Branch, Kemin sub-office opened its doors for clients. For customer’s comfort and faster loan disbursals, two regions: Jayil and Tokmok - have been created in Bishkek Branch this year. Two sub-offices were set up in two largest branches of the Southern region – Osh and Jalalabat: Kurshab sub-office as part of existing Uzgen region and Nooken sub-office as part of existing Kochkor-Ata region. It is worth noting that above-listed sub-offices were opened in the largest regions of the oblast. Despite a fact that Naryn and Karakol Branches have been operating as independent branches since April, 2008, starting in the beginning of the present year they have also opened representations in two regions. As of February of this year, Aksui sub-office in Karakol Branch and Jumgal sub-office in Naryn Branch have started their operation. Dynamically developing Talas Branch has also expanded territory wise, and today it is represented by four regional representations. Starting from this year it added a new sub-office of Amanbaev to its regional network. As mentioned earlier, creation of regions and allocation of certain authorities to them have significantly minimized time spent by clients on receiving micro loans. Therefore, the Company makes a special focus on this aspect. Today there are six regions that are successfully operating in the Company: Uzgen – as part of Osh Branch, Ala-Buka and Kochkor-Ata – as part of Jalalabat Branch, Kadamjai – as part of Batken Branch, Tokmok and Jayil – as part of Bishkek Branch. Analyzing performance of the Company during first 6 months, the Board of Directors made a decision to create two new regions – Kochkor as part of Naryn Branch and Kara-Bura as part of Talas Branch. The Company sees geographical expansion as one of its goals, which is aimed on maximizing access for clients. This aim is being implemented as planned. Today, population of the republic satisfies its needs in loan resources through seven branches and 35 sub-offices of the Company. At that, a special attention is paid to modernization of the infrastructure. As of beginning of this year, the Company invested funds into purchasing area to construct Ala-Buka sub-office. No later than in the second half of the year, reconstruction of premises of Toktogul sub-office will be also started. Reconstruction of buildings is carried out in close compliance with requirements of the National Bank of the Kyrgyz Republic. |
10 years of successful work allowed the Company to take a leading position on the Kyrgyz Republic market. In the frame of ambitious plans of development Company intends to intensively increase the volumes of crediting, to expand the spectrum of rendered services and improve the institutional potential. One of the important steps in the Company’s development is – rebranding, that reflects the large-scaled internal changes, in the basis of which an active transition into the model of development of client-oriented business lies. This step will allow to correspond at maximum to high requirements of the modern market and to open new horizons of growth remaining at the same time committed to its social mission and values. 
Company, together with “Kiva” Fund has launched a new social-oriented project in Bishkek, Talas, Osh, Djalal-Abad and Naryn branches. In the frame of this project loans are being disbursed to socially-vulnerable segments of people with the grace interest rate for two years period. Till the end of September Company plans to implement the project in other branches. Implementation of the pilot project was carried out with the participation of Sam Trauffer – Kiva Foundation fellow, who came to our country for the purpose of rendering assistance to the Company on implementation of the project. 
