2019 Annual Report from FINCA Impact Finance

The 2019 Annual Report shows the global provider of responsible financial services continued to deliver on a double bottom line of social impact and financial sustainability. 

In 2019, despite considerable headwinds, FINCA Impact Finance delivered a third straight year of positive social and financial results. It grew its client base by 15%, reaching 2.68 million people whose lives and livelihoods are hindered by financial exclusion. It added increasingly convenient and accessible ways for clients to bank, with 55% of transactions conducted digitally. And it achieved $8.0 million in net income and continued to diversify its funding base, which contributed directly to growth and sustainability. Throughout the year, FIF made enterprise-wide investments in call centers, centralized underwriting, tablets, data analytics, liquidity management systems, mobile and online products and digital marketing, that have proved vital as it  transforms to a more efficient company that better meets customers’ needs.

The numbers at a glance

In 2019, FIF posted net income totaling $8.0 million. Voluntary loan deposits reached $423.2 million while FIF’s gross loan portfolio grew to $880.8 million.

FIF also continued to grow its product portfolio in 2019, as it launched and expanded mobile, online and agency banking services. These services were delivered with ever greater efficiency with the implementation of digital field automation and central underwriting. Today, 55% of all transactions made across FIF’s 20 subsidiaries are branchless.

FIF continually seeks to understand the complete customer experience. This includes the benefits our clients are receiving and the ways we may improve to better serve them. FINCA’s customer research aligns our programs with our mission, and provides useful intelligence for enhancing our work. Highlights of our social performance results, from self-reported findings from FINCA’s client surveys, are:

• 41% women borrowers of which 70% are the main source of income in their households
• 39% rural borrowers
• $1,045 average loan size
• 2.4 average people employed per client enterprise
• $3,578 average annual profit of a business financed by FIF

Read the full 2019 Annual Report.