Bank of Georgia Financial Overview

Removing barriers that prevent self-employed people from accessing finance We redesigned the lending process for self- employed customers* Self-employed borrowers Barriers Difficulty in calculating a client's monthly income due to lack of formal employment What we changed Application origination and disbursement handled in digital channels 47K Dec-22 52K Jun-23 Lack of a digital process for loan application Limited access to typical retail lending products Full access to retail lending products (mortgages, consumer loans, instalments, credit cards, among others) Simplified income validation using video calls and an income matrix and on-site validation visits Loan portfolio of self-employed clients GEL Self-employed individuals were treated process-wise as business customers and not as self-employed retail customers Client coverage and servicing changed to a retail banking model 359M 489M Dec-22 *Self-employed customers are individuals whose share of income from self-employment exceeds 50% and who do not own a business/are not registered as individual entrepreneurs Jun-23 73

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