Quarterly Board of Directors Meeting of MCC Vyruchai- Dengi took place on the 4th of August
At the meeting, the Company’s CEO Oleg Anischik presented to representatives of shareholders and investors the results of the MCC Vyruchai-Dengi work in the second quarter of 2017 and plans for the development of the Company until the end of the year.
At the meeting the report on the fulfillment of objectives set out for the Company in the second quarter of this year was presented. In particular the head of the Company announced overachievement of sales target for the II quarter of 2017, MCC Vyrucha- Dengi issued 80.5% more loans than for the same period in 2016, keeping the level of problem loan debts at the previous low level.
Oleg Anischik also described the successful application of today’s software in accounting cash loans, the active use of new channels for attracting borrowers, the results of PR campaign for expanding sales of consumer loans, the development of new credit products with high sales potential and launching sale campaign of insurance products.
Chairman of the Board of Directors of MCC Vyruchai-Dengi
«The shareholders were satisfied with the high results of the work the Company demonstrated in the second quarter, and the Board of Directors approved the development plan of the Company for the second half of 2017»
The Company plans to maintain the achieved level of sales in the III and IV quarters, further expansion of the line of products and agent network, transition to a new motivation system (in particular, change of the principle of remuneration on the fact of sale to the principle of yield spread premium payment), reorganization of internal collection for the full recovery cycle and transition to the Unified Chart of Accounts and the new industry accounting standards.
At the meeting, the management and shareholders of the Company also discussed the possibility of increasing the authorized capital and obtaining the status of a microfinance company (MFC) next year, which will open new business prospects for Vyruchai- Dengi.
Concluding the meeting the shareholders approved the Company’s Development Plan for the second half of the year.
For reference purposes. MCC Vyruchai- Dengi is microcredit company «Vyruchay-Money» is one of the leading microfinance organizations of the country, which is included in the TOP-15 MFIs of Russia. The Company was established in 2011 in Bryansk. The Company is the member of the international Financial Group SAD Capital Ltd.
The company is focusing its work in the Central and Southern Federal Districts of Russia, having over 120 sales points operating in 30 localities of the country. Over the past three years, the company has issued loans at the amount of over 2.0 billion Rubles, financing more than 105,000 borrowers.
According to the report of the international rating agency Expert RA Vyruchai Dengi occupies 6th line in terms of volume of consumer lending portfolio among all MFI’s working in Russia
MCC Vyruchai- Dengi is the member of the self-regulating organization Micro-financing and Development, uniting the major micro-financing companies in Russia. For the results of work in 2014 Association of young entrepreneurs of Russia acknowledged Vyruchai- Dengi as the best business start-up in Russia. In November 2016 the Company became the award winner “Golden Ruble” and at the end of 2016 the Company became the award winner NAUMIR in the nomination “For contribution into regional development”.