Creditinfo Group

From September 30, 2011 JSC Creditinfo Georgia will change its address and its new contact information shall be as follows:

Address: 13, Mosashvili str., 0162, Tbilisi, Georgia Tel/fax: (+995 32) 262 35 55 Magtifix: (+995 7 90) 912 509

Creditinfo Georgia Launches Creditinfo Predictor Score

Creditinfo Georgia, the countries credit bureau, has launched the markets first credit bureau score, Creditinfo Predictor. The score was developed by risk management experts Creditinfo Decision. Creditinfo Predictor will summarise the complex credit reports in a highly predictive and easy to use score that will provide improvement effectiveness and efficiency to credit grantors in Georgia. The launch at the Radisson Hotel in Tbilisi was attended by over 50 representatives of the banks, credit grantors, telecom operators and regulators. The launch was opened by Alexander Gomiashvili, Manager Director of Creditinfo Georgia, who got things off to a lively start with a short video; http://www.youtube.com/watch?v=Lj-rLhKE4a8 . Attendees were then given an insight into the model development by Creditinfo Decision senior consultant Filip Trojan. He described the four process of in-depth analysis of over 2 million records, and how the international experience was used to enhance the results. The final section delivered jointly by Paul Randall and Vratislav Houzvicka from Creeditinfo SCHUFA explained how Creditinfo Predictor can be used throughout the credit cycle for increased efficiency and effectiveness. Examples were shown from pre-screening, application assessment, customer management and collections. A New Phase in Development at Creditinfo Georgia Creditinfo Georgia has been working diligently to provide the necessary core services to support credit grantors in an active and growing market. Over the last 5 years it has grown to be central to all lending that occurs in Georgia. The Creditinfo Predictor launch announces the start of the second phase of support for credit grantors with the provision of value added products such as Creditinfo Predictor. According to Alexander Gomiashvili, Manager Director of Creditinfo Georgia, “Having worked with our shareholding and partner banks to achieve a high quantity and quality of information we knew it was time to provide this advanced service. We are very proud to be able to offer Creditinfo Predictor to our customers, especially with the confidence of the quality of working jointly with our strategic partner and a shareholder - Creditinfo Schufa”. About Creditinfo Decision Creditinfo Decision is a risk management consulting firm that specialises in the development of risk models as part of the Creditinfo SCHUFA Group GmbH. We are the trusted advisor to the major financial organisations and our credit bureau partners in emerging and small credit economies. Our aim is to improve the risk management infrastructure of our clients with a strong focus on the strategic objectives of the organisation. Through our solutions and advice we have already made substantial improvements to the performance of organisations and continue to have a passion for innovation. About Creditinfo Solutions Creditinfo Solutions is the provider of core solutions in credit risk management and credit bureaus. The provider of the credit bureau software and decision engine to a number of credit bureaus including Creditinfo Georgia. Their customer life cycle solutions are also provided to credit grantors and telecoms

Statistic data

Currently total number of records in database of Creditinfo Georgia is 2 142 816 .
Share of covered loans in the positive credit data is - 56.06%
Share of covered loans in the overdue credit data is - 41.74%
Currently 805 000 physical persons and 11 500 companies can be found in the database.

Changes in the Supervisory Board

According to the resolution of the Shareholders's Meeting of October 27, 2010 changes were made to Supervisory Board. Now the Chairman of the Board is Hakon Stefansson (Creditinfo Group) and the members of the Board are: Maia Meredova (ProCredit Bank), Vasil Verulashvili (Bank of Georgia), Tea Lortkipanidze (TBC Bank), Nino Berishvili (Bank Republic) and Aiety Kukava (National Credit Information Bureau).

The number of records in the database of Creditinfo Georgia has exceeded 2 000 000

The number of records - information about current and covered and also defaulted and overdue debts in the database of Creditinfo Georgia - has exceeded 2 000 000. The percentage ratio i.e. the percentage of the covered loans in the positive and also the negative databases by October 1, 2010 is the following:
Share of covered loans in positive loans - 58.51%
Share of covered loans in negative loans - 43.28%
By this time 765 665 physical persons and 11 086 companies can be searched in the database.

The number of records in the database of Creditinfo Georgia has increased almost up to 1 900 000

The number of records in the database of Creditinfo Georgia i.e. information about current and covered loans and also the defaulted and overdue loans has increased almost up to 1 900 000 . Percent ratio of the covered loans in both positive and negative databases by August 2, 2010 is as follows:
percentage of covered loans in positive loans - 59.32%
percentage of covered loans in negative loans - 41.22%

Statistics

Total number of positive loans - 1 180 690; including covered loans - - 683 290 (57.87%) Total number of negative loans - 316 594; including covered loan - 126 972 (40.10%)

Statistics

Total number of positive loans - 1 115443; including covered loans - 606 940 (54.41%) Total number of negative loans - 313 058 ; including covered loan - 123 536 (39.46%)

Statistics

Total number of positive loans - 1 076 843; including covered loans - 582 322 (54.07%) Total number of negative loans - 307 581 ; including covered loan - 117 343 (38.15%)

News

Shareholders Meeting of JSC Creditinfo Georgia approved changes in the Supervisory Board. Supervisory Board members were approved as follows: -Mr. Vasil Verulashvili instead of Mr. Sulkhan Gvalia, (JSC Bank of Georgia); - Ms. Nino Berishvili instead of Mr. Michel Forestie, (JSC Bank Republic);

Statistics

Total number of positive loans - 1 039 739; including covered loans - 564 300 (54,27%) Total number of negative loans - 304 782; including covered loan - 112 833 (37,02%)

Attention!
The number of records in positive database of Creditinfo exceeds 1 000 000

The number of records in the positive database of Creditinfo i.e. the records about currents and covered loans has exceeded 1000 000. The percentage ratio i.e. the percentage of covered loans in positive database as well as in negative database by February 1 is as follows: Total number of positive loans - 1 000 514; including covered loans - 542 353 (54,20%) Total number of negative loans - 300 145; including covered loan - 113 114 (37.69%)

Statistics

The percentage ratio i.e. the percentage of the covered loans in the positive and also the negative databases by January 1, 2010 is the following:

Total number of positive loans – 983 679; Among them the covered loans are – 526 706 (53.54%) Total number of negative loans – 294 520; Among them the covered loans are – 110 200 (37.41%)

Statistics

The percentage ratio i.e. the percentage of the covered loans in the positive and also the negative databases by December 1, 2009 is the following:

Total number of positive loans – 911 372; Among them the covered loans are – 506 457 (55.57%) Total number of negative loans – 291 204; Among them the covered loans are – 106 145 (36.55%)

General periodical statistics for the records of Creditinfo database

The percentage ratio i.e. the percentage of the covered loans in the positive and also the negative databases by November 2, 2009 is the following:

Total number of positive loans – 885 230;
Among them the covered loans are – 477 349 (53.92%)

Total number of negative loans – 286 905;
Among them the covered loans are – 102 576 (35.75%)

From October 1st information about the number of records in the database of Creditinfo Georgia will be published on the company’s web-site

From October 1st information about the total amount of records in the database of Creditinfo Georgia will be published on the company web-site. Also, the number of positive (current and covered loans) and negative (delinquent and outstanding loans) records by certain date will be provided. Besides we will provide general statistical information about percentage ratio of current and covered loans and also the delinquent loans already covered.
The company management came to such decision because of increasing interest of society and especially the representatives of media in respect of Creditinfo data, and also for the purpose of preventing use of incorrect/inaccurate information while appealing to statistical data which has been the case quite often lately.

The percentage ratio i.e. the percentage of the covered loans in the positive and also the negative databases by October 1, 2009 is the following:

Total number of positive loans – 864 245;
Among them the covered loans are – 461 619 (53,4%)

Total number of negative loans – 278 682;
Among them the covered loans are – 122 327 (43,8%)

It should be mentioned that according to the data of the second half of July, 2009, from the total amount of current positive loans the covered loans equaled 51.3%, while from the total number of negative loans the covered loans were – 34.9%.

My Creditinfo – is the name of the new product to be offered to the customers by Creditinfo Georgia from October, 2009

My Creditinfo –is the name of the new product to be offered to the customers by Creditinfo Georgia from October, 2009. With the help of this service anyone may view the information and data about himself/herself stored in Creditinfo database anytime via internet without addressing banks. The user will be able to check regularly all the changes related to his/her credit history. For getting access to this system customer has to make an agreement with Creditinfo Georgia and have his/her username and password registered; after paying respective price he/she will be authorized to access the database and view necessary information. The service price is quite reasonable. 15 GEL shall be the payment per one year for natural persons. In case of purchasing the pack of 25 GEL the user in addition, will immediately be notified of the changes about him/her made in the database ( new loans, balance after paying an installment, delinquency, etc.) and also about the third person having viewed the information about the customer in the database and the date of such viewing. The price of such service for the companies operating in Georgia shall be 50 (fifty) GEL.

Creditinfo Group hf and SCHUFA Holdings AG sign Joint Venture agreement

Creditinfo Group hf and SCHUFA Holdings AG today signed an historic Joint Venture agreement, resulting in the formation of a new holding company, Credinfo SCHUFA GmbH, registered in Wiesbaden, Germany. The new company will be jointly managed by Reynir Grétarsson, the current CEO of Creditinfo Group and Dieter Steinbauer, current Member of the Executive Board of SCHUFA, in the capacities of joint Managing Directors. All existing Creditinfo subsidiaries will retain their current registrations as members of Creditinfo SCHUFA GmbH. The Joint Venture brings together the competencies of both credit risk specialist organisations under one umbrella, enabling us to offer our customers a wider range of risk management products, services and software and increase the reach of our consulting and analytical services. Together with our partners we will be serving customers in most of Europe. Creditinfo acknowledges Straumur Investment Bank’s valuable advice during the contract negotiations. Staumur is Iceland’s largest investment bank and is headquartered in Reykjavik, with a presence in 10 countries.

 At the signature, Mr. Rainer Neumann, CEO of Schufa Holding AG, Chairman of the board of Creditinfo Schufa GmbH, Mr. Reynir Grétarsson, CEO Creditinfo Group and Creditinfo Schufa GmbH, Prof. Dr. Dieter Steinbauer, COO Schufa Holding AG and Creditinfo Schufa GmbH.

Positive Loans Database already includes information on credits up to 100.000 USD

Positive loans database already includes information on credits up to 100,000 USD. Up until now banks and MFO-s exchanged data about the loans below 20,000 USD that mainly covered consumer loans. After the Increase of the limit up to 100,000 USD the database will contain a large part of mortgage and business loans too. Currently we have 9 financial institutions exchange positive information. However, this number will probably increase by the end of the year. As of today there are more than 500,000 records in the current and repaid loans database

Current and repaid loans database already contains more than 100 000 records

In March 2007 Creditinfo Georgia launched one more new service, Information on Current and Repaid Loans. This service is the first step in the exchange of positive information. Our clients will have an opportunity not only to see the existing loans of their credit applicants, but also their positive credit history. At this stage information is exchanged on the loans below USD 20 000. Development of the abovementioned service will promote competition in the financial sector and will enable our clients to offer better rates to their customers with positive credit history. Time necessary for processing of loan applications will be reduced substantially as well. By entering a name or an identification number into a search engine our clients will have an opportunity to find out the following information:

On outstanding loans: - Disbursed amount
                                    - Currency
                                    - Current balance

 On loans repaid:         - Disbursed amount
                                    - Currency
                                    - Repayment Date

Currently positive information is exchanged not only by some of the leading Georgian banks but also by leading Micro-financial Institutions. Only after 6 months from the launching of this service the database contains more than 100 000 records. It is significant, that the number of records is rapidly increasing. At the same time it should be noted that growth trend in the number of inquiries to the database is very impressive as well. If in January Creditinfo Georgia had only 19 000 inquiries, in August the number exceed 100 000 and in September it reached 147 000.

Number of Creditinfo Georgia’s clients is consistently increasing

Since the beginning of the year JSC Creditinfo Georgia signed contracts with several respected Georgian Banks such as: Peoples Bank, Basisbank, Standard Bank. Thus, we could say that Creditinfo Georgia, which is the only credit information reporting/providing company in the country is in full control of the local market.

Changes in the Supervisory Board

Starting from March 2007 we have new members on the board. Chairmen of the board is Mr. Philipp Pott (ProCredit bank). Board members: - Mr. Olafur Vilhjalmsson (Creditinfo Group), - Mr. Sulkhan Gvalia (Bank of Georgia), - Ms. Nino Masurashvili (TBC Bank), - Mr. Ayety Kukava (National Credit Information Bureau), - Mr. Michel Forestie (Bank Republic Societe Generale Group).

Current and repaid loans database

Creditinfo Georgia launched one more new service, Information on Current and Repaid Loans. This service is the first step in the exchange of positive information. Our clients will have an opportunity not only to see the existing loans of their credit applicants, but also their positive credit history. At this stage information is exchanged on the loans below USD 20 000.

Changes in the Supervisory Board

In May 2006 instead of Mr. Giorgi Aslanikashvili and Mr. Giorgi Kananashvili the board members became Ms. Nino Masurashvili and Mr. Irakli Chitiashvili representatives of TBC Bank and Bank Republic respectively.

List of banks which use Creditinfo Georgia’s database at the end of 2005

For the mentioned period we signed contracts with almost all leading Georgian banks, such as: TBC Bank, Bank of Georgia, United Georgian Bank, ProCredit Bank, Bank Republic, Silk Road Bank and Invest Bank. Also we have already signed agreements with some other financial institutions and international organizations.

Monitoring service

Since the end of December 2005 Creditinfo Georgia’s clients can use a new product – Monitoring service. This Service allows you to keep track of the status of your customers or partners in the easiest possible way. You submit a list of the companies and individuals you need to keep track of to our servers. We email you every time there is any change in the critical information you need.

Creditinfo Georgia has a new chairman of the Supervisory Board

In September 2005 Mr. Philip Sigwart, General Manager of ProCredit Bank became the chairman of the Supervisory Board of JSC Creditinfo Georgia. He knows specificities of Georgian financial market, currency and credit system and also trends of its development. This will help us to meet the operational and data requirements of our clients. Also we changed Supervisory Board structure, instead of Mr. Dimitri Kemoklidze the board member became Mr. Giorgi Kananashvili, representative of the Bank Republic.

Emission of new shares

According to the September 2005 decision of Shareholders meeting JSC Creditinfo Georgia issued new shares. Issued shares were purchased by one of the leading Georgian bank - Bank Republic. This fact points to a high prospect of using our products and to the increasing image of our company on the local market.

JSC Creditinfo Georgia launched it's first product

 Stranting from July 2005, only after 5 months from the establishment of the company JSC Creditinfo Georgia launched it's first product, Defaulting Debtors Database. DDD is a centralized database with processed information from official (courts, statistics department, tex department, etc.) and unofficial sources (customers of Creditinfo, banks, MFIs, leasing, telecommunication companies, etc.) concerning defaulted debts on individuals and companies.