Merit Awards from CGAP

Since became a licensed microfinance institution in May 2004, CREDIT has continued its growth very fast in terms of loan outstanding, operating areas, and numbers of clients while keeping very high quality of loan. It has also continued improving in efficiency, outreach, products and services development, technologies and staff capacity building. This improvement is evidenced by successfully localized management and outstanding financial performance ratios, including less than 0.5% PAR 30+, high return on equity 22.91% (as of Sept 08), average outstanding/credit officers USD122,637, annual average OSS= 150%, etc. Has seen this great performance, CGAP has given CREDIT Merit Awards for 2 years in a raw on financial transparency. CGAP selected and gave these Merit Awards to a few MFIs among MFIs in the globe.