Sps mikrosafinanso organizacia intel eqspres...

finansuri angariSgeba

2014 wlis 31 dekembriT dasrulebuli wlisaTvis

da

damoukidebel auditorTa daskvna

Sps mikrosafinanso organizacia intel

eqspres jorjia

Sps mikrosafinanso organizacia intel eqspres jorjia



Tanxebi mocemulia larSi

Sinaarsi

menejmentis pasuxismgeblobis gansazRvra 1

damoukidebeli auditorebis daskvna 2

finansuri mdgomareobis angariSgeba 3

sruli Semosavlebis angariSgeba 4

fuladi saxsrebis moZraobis angariSgeba 5

kapitalSi cvlilebebis angariSgeba 6

finansuri angariSgebis axsna-ganmartebiTi SeniSvnebi

1 kompania da misi ZiriTadi saqmianoba 7

2 kompaniis saoperacio garemo 7

3 momzadebis safuZveli 7

4 ZiriTadi saaRricxvo politika 8

5 kritikuli saaRricxvo Sefasebebi 12

6 fuli da fulis ekvivalentebi 13

7 gacemuli sesxebi 14

8 sagadasaxado aqtivebi 16

9 ZiriTadi saSualebebi 17

10 gadavadebuli da mimdinare mogebis gadasaxadi 18

11 sxva aqtivebi 19

12 miRebuli sesxebi 19

13 gadasaxdeli gadasaxadebi 20

14 sawesdebo kapitali 20

15 saoperacio da administraciuli xarjebi 20

16 finansuri riskebis marTva 21

17 finansuri aqtivebi da valdebulebebi 24

18 kapitalis adekvaturoba 25

19 dakavSirebuli mxareebi 26

20 pirobiTi valdebulebebi 27

21 sawarmos uwyvetobis ganxilva 27

22 saangariSgebo periodis Semdgomi movlenebi 27





menejmentis pasuxismgeblobis gansazRvra

Salva moiseevi beraZe nana

generaluri direqtori mTavari buRalteri


TariRi:

gverdi 1

menejmenti agreTve pasuxismgebelia:

• finansuri angariSgebis momzadebas sawarmos uwyveti funqcionirebis daSvebis safuZvelze, Tuki realuri

mdgomareoba Seusabamos ar xdis am daSvebas;

• Seqmnas, danergos da SeinarCunos Sida kontrolis efeqturi sistema;

• awarmoos adgilobrivi kanonmdeblobis Sesabamisi saaRricxvo Canawerebi;

• Tavidan aicilos da aRmofxvras TaRliToba da sxva darRvevebi.

2014 wlis 31 dekembris mdgomareobiT dasrulebuli finansuri angariSgeba damtkicebulia da xelmowerilia

xelmZRvanelobis mier:

• miiRos misTvis gonivrulobis farglebSi xelmisawvdomi yvela zoma, raTa daicvas kompaniis aqtivebi;

TandarTul finansur angariSgebaze pasuxismgebelia Sps mikrosafinanso organizacia intel eqspres jorjias

xelmZRvaneloba.

es pasuxismgebloba moicavs:

• finansuri angariSgebis momzadebas finansuri angariSgebis saerTaSoriso standartebis Sesabamisad;

• finansuri aRricxvis Sesaferisi politikis SerCevas da maT Tanmimdevrul gamoyenebas;

• dasabuTebuli da windaxeduli saaRricxvo Sefasebebis gakeTebas;

Audit and Business Consulting, LLC

damoukidebeli auditorebis daskvna

Sps mikrosafinanso organizacia intel eqspres jorjia-s menejments

finansuri angariSgebis identificireba

1

menejmentis pasuxismgebloba finansur angariSgebaze

2

auditoris pasuxismgebloba

3

4

5

mosazreba

6

Sps auditi da biznes konsaltingi

TariRi: 30 oqtomberi, 2015

6 Marjanishvili Str | 0102 | Tbilisi | Georgia

office +995 322 000 123 | [email protected] | www.morison.ge

Audit | Accounting | Tax & Legal | Valuation | Business Consulting

ABC is a member of the Morison International, a global association of leading professional service firms, established to meet the cross-border

accounting, auditing, tax and business consulting needs of clients.

Cveni azriT, finansuri angariSgeba, yvela arsebiTi sakiTxis gaTvaliswinebiT, utyuarad da samarTlianad asaxavs kompaniis

finansur mdgomareobas 2014 wlis 31 dekembrisaTvis, misi saqmianobis Sedegebsa da fuladi saxsrebis moZraobas

wlisaTvis, romelic dasrulda aRniSnuli TariRiT da Seesabameba finansuri angariSgebis saerTaSoriso standartebs.

Cven CavatareT Sps mikrosafinanso organizacia intel eqspres jorjia-s (SemdgomSi „kompania") TandarTuli finansuri

angariSgebis auditi, romelic moicavs finansuri mdgomareobis angariSgebas 2014 wlis 31 dekembris mdgomareobiT,

agreTve sruli Semosavlebis, kapitalSi cvlilebebisa da fuladi saxsrebis moZraobis angariSgebebs wlisaTvis,

romelic dasrulda zemoT aRniSnuli TariRiT, agreTve mniSvnelovan saaRricxvo politikebsa da sxva axsna-ganmartebiT

SeniSvnebs.

warmodgenili finansuri angariSgebis, finansuri angariSgebis saerTaSoriso standartebis (fass) Sesabamisad momzadebasa

da utyuarad da samarTlianad wardgenaze pasuxismgebelia kompaniis menejmenti. es pasuxismgebloba moicavs: Sida

kontrolis sistemis SemuSavebas, danergvas da SenarCunebas, romelic uzrunvelyofs iseTi finansuri angariSgebis

momzadebas da wardgenas, romelic ar Seicavs SecdomebiT Tu TaRliTobiT gamowveul arsebiT uzustobebs; Sesabamisi

saaRricxvo politikebis SerCevas, maT mizanmimarTulad gamoyenebas da situaciisaTvis Sesabamisi saaRricxvo Sefasebebis

gakeTebas.

Cveni pasuxismgeblobaa Cvens mier Catarebuli auditis safuZvelze gamovTqvaT mosazreba warmodgenili finansuri

angariSgebis Sesaxeb. auditi CavatareT auditis saerTaSoriso standartebis Sesabamisad. aRniSnuli standartebi Cvengan

moiTxovs eTikur moTxovnebTan Sesabamisobas da auditis imgvarad dagegmvasa da Catarebas, rom miviRoT dasabuTebuli

garantia imisa, Seicavs Tu ara warmodgenili finansuri angariSgeba arsebiT uzustobebs.

auditi moicavs procedurebs, auditoruli mtkicebulebebis mosapoveblad finansur angariSgebaSi asaxul Tanxebsa da

axsna-ganmartebiT SeniSvnebze. konkretuli procedurebi damokidebulia auditoris gansjaze, rac moicavs finansur

angariSgebaSi TaRliTobiTa Tu SecdomebiT gamowveuli arsebiTi uzustobebis arsebobis riskis Sefasebas. riskis aseTi

Sefasebisas, auditori ganixilavs im Sida kontrolis meqanizmebs, romelic mniSvnelovani da Sesaferisia kompaniis mier

finansuri angariSgebis momzadebisa da wardgenisaTvis, raTa dagegmos arsebuli pirobebisaTvis Sesaferisi auditoruli

procedurebi, magram ara im mizniT, rom gamoxatos sakuTari mosazreba kompaniis Sida kontrolis efeqturobis Sesaxeb.

auditi agreTve moicavs gamoyenebuli saaRricxvo politikis Sesaferisobis Sefasebasa da menejmentis mier gakeTebuli

saaRricxvo Sefasebebis dasabuTebulobis, aseve mTlianobaSi finansuri angariSgebis wardgenis Sefasebas.

gvjera, rom Cvens mier mopovebuli auditoruli mtkicebulebebi sakmarisi da Sesaferisia Cveni auditoruli mosazrebis

gamoTqmisaTvis safuZvlis Sesaqmnelad.





finansuri mdgomareobis angariSgeba

SeniSvna 31-dek-14 31-dek-13

aqtivebi

fuli da fulis ekvivalentebi 6 3,900,724 8,180,790

fuladi gzavnilebis kompaniebisgan misaRebi Tanxebi 6,966,622 3,737,800

gacemuli sesxebi 7 5,574,823 4,366,950

gadaxdili avansebi 50,043 41,072

sagadasaxado aqtivebi 8 26,368 6,405

ZiriTadi saSualebebi 9 2,637,338 3,158,776

aramaterialuri aqtivebi 74,890 59,831

gadavadebuli sagadasaxado aqtivi 10 21,871 -

sxva aqtivebi 11 1,196,096 785,681

investiciebi mekavSire kompaniaSi 156,977 150,000

sul aqtivebi 20,605,750 20,487,304

valdebulebebi

miRebuli sesxebi 12 6,177,673 5,220,332

fuladi gzavnilebis kompaniebisTvis gadasaxdeli Tanxebi 12,709,215 12,465,185

gadasaxdeli gadasaxadebi 13 32,485 66,691

gadavadebuli sagadasaxado valdebuleba 10 - 68,120

sxva valdebulebebi 45,439 46,383

sul valdebulebebi 18,964,811 17,866,710

kapitali

sawesdebo kapitali 14 1,000,000 1,000,000

gaunawilebeli mogeba 640,939 1,620,594

sul kapitali 1,640,939 2,620,594

sul valdebulebebi da kapitali 20,605,750 20,487,304




TariRi:

gverdi 3





sruli Semosavlebis angariSgeba

SeniSvna 2014 2013

saprocento Semosavali 1,495,226 1,109,652

saprocento xarji (599,057) (390,627)

wminda saprocento Semosavali 896,169 719,025

sakomisio Semosavlebi, wminda 1,804,260 2,408,659

mogeba savaluto operaciebidan 1,334,135 996,590

sxva Semosavali 47,301 83,453

Semosavali jarimebidan 142,699 84,695

saoperacio Semosavali 4,224,563 4,292,422

saoperacio da administraciuli xarjebi 15 (3,029,660) (2,587,733)

ZiriTadi saSualebebis gaufasureba (400,251) -

mogeba uzrunvelyofis realizaciisa da gadafasebisgan 1,169 2,572

zarali ZiriTadi saSualebis realizaciidan - (37,400)

cvlileba sesxis gaufasurebis rezervSi (7,478) 38,543

mogeba/zaralis wili mekavSire kompaniaSi 6,977 -

mogeba gadasaxadebamde 795,319 1,708,404

mogebis gadasaxadi 10 (88,375) (258,228)

mimdinare wlis mogeba 706,945 1,450,176




TariRi:

gverdi 4





fuladi saxsrebis moZraobis angariSgeba

2014 2013

aRwera

miRebuli procenti da jarima 1,478,578 1,102,862

sesxis dasafarad Semosuli Tanxebi 11,424,260 7,177,326

gacemuli sesxebi (12,310,746) (9,232,765)

gaweuli xarjebi (1,132,583) (1,069,035)

gadaxdili xelfasebi (1,232,613) (938,480)

gadaxdili procenti (339,536) (265,180)

gadaxdili gadasaxadebi (831,896) (595,204)

sxvaoba fuladi gzavnilebis Semosvlasa da gasvlas Soris da sxva 239,392 3,892,191

fuladi nakadebi saoperacio saqmianobidan (2,705,144) 71,715

ZiriTadi saSualebebis SeZena (77,604) (339,583)

fuladi nakadebi sainvesticio saqmianobidan (77,604) (339,583)

miRebuli sesxebi 4,250,183 5,701,284

dafaruli sesxebi (3,735,373) (1,290,982)

gadaxdili dividendebi (1,673,951) (1,031,377)

fuladi nakadebi safinanso saqmianobidan (1,159,141) 3,378,925

sakurso sxvaobis Sedegi (338,177) 201,208

wminda fuladis saxsrebis zrda/(Semcireba) (3,941,889) 3,111,056

fuli da fuladi saxsrebi periodis dasawyisSi 8,180,790 4,868,526

fuli da fuladi saxsrebi periodis bolos 3,900,724 8,180,790




TariRi:

gverdi 5





kapitalSi cvlilebebis angariSgeba

sawesdebo

kapitaligaunawilebeli mogeba sul kapitali

1,000,000 1,209,645 2,209,645

damatebiT Setanili kapitali - - -

wminda mogeba 2013 wlisTvis - 1,450,176 1,450,176

gamocxadebuli dividendebi - (1,039,227) (1,039,227)

1,000,000 1,620,594 2,620,594

damatebiT Setanili kapitali - - -

wminda mogeba 2014 wlisTvis - 706,945 706,945

gamocxadebuli dividendebi - (1,686,600) (1,686,600)

1,000,000 640,938 1,640,938




TariRi:

gverdi 6

naSTi 2012 wlis 31 dekembris

mdgomareobiT


mdgomareobiT


mdgomareobiT





SeniSvna 1 kompania da misi ZiriTadi saqmianoba

aqcioneri 31-dek-14 31-dek-13

qeTevan qarTveliSvili 15.00% 15.00%

Sps gaerTianebuli safinanso jgufi 85.00% 85.00%

100.00% 100.00%

SeniSvna 2 kompaniis saoperacio garemo

SeniSvna 3 momzadebis safuZveli

gverdi 7

warmodgenili finansuri angariSgeba moicavs Sps mikrosafinanso organizacia intel eqspres jorjias (SemdgomSi moxseniebuli

rogorc „kompania") finansur informacias.

Sps mikrosafinanso organizacia intel eqspres jorjia daregistrirda 2006 wels TbilisSi, saqarTveloSi.

kompaniis ZiriTadi saqmianobaa fuladi gzavnilebis ganxorcieleba; intel eqspresi aris saerTaSoriso fuladi gzavnilebis

sistema, romlis ZiriTadi saqmianobaa fizikur pirebs Soris naRdi fuladi gzavnilebis uzrunvelyofa; agreTve, intel

eqspresis momsaxurebaSi Sedis angariSze fulis gagzavna, kerZo gadaxdebi (sesxis dafarva, komunaluri gadasaxadebi da a.S.),

internet gadaxdebi da sxva swrafi fuladi gzavnilebi.

kompaniis damatebiTi saqmianobaa fizikur da iuridiul pirebze mikro sesxebis gacema. kompanias aqvs eqvsi servis centri

TbilisSi: centraluri (aRmaSeneblis gamz.), marjaniSvili, wereTeli, gldani, delisi, Tbilisis aeroporti. kompania gascems

oTxi saxis sesxs: (1) ipoTekuri sesxi, romlis uzrunvelyofa xdeba uZravi qonebiT an TavdebobiT; (2) salombardo sesxi,

romlis uzrunvelyofa xdeba Zvirfasi qvebiT/liToniT an antikvaruli nivTebiT (3) samomxmareblo sesxi, romlis

uzrunvelyofa xdeba Zvirfasi qvebiT/liTonebiT, avtomobiliT, msesxeblisgan (an mesame pirisgan) miRebuli kreditiT an

garantiiT da (4) sxva sesxi, romelic uzrunvelyofilia Zvirfasi qvebiT/liTonebiT, msesxeblisgan (an mesame pirisgan)

miRebuli kreditiT an garantiiT. dadgenilia sesxis zeda zRvari, romelic Seadgens 50 aTas lars.

Sps mikrosafinanso organizacia intel eqspres jorjias aqcionerebi arian:

kompania saqmianobas axorcielebs saqarTveloSi. saqarTveloSi mikrosafinanso organizaciebis saqmianoba regulirdeba

saqarTvelos erovnuli bankis mier. es regulaciebi arc Zalian mkacria da arc SemzRudavi. es regulaciebi moicavs minimaluri

kapitalis moTxovnas (minimum 250 aTasi lari) da finansuri angariSgebis wardgenas fass-is standartebis Sesabamisad.

saqarTveloSi dResdReobiT mikrosafinanso organizaciebs ekrZalebaT klientebisgan depozitebis miReba da sesxad 50 aTas

larze meti Tanxis gacema.

iseTi ganviTarebadi ekonomikebi, rogoric saqarTveloSia, Zalian mgrZnobiareni arian bazarze swrafi cvlilebebisa da

msoflioSi ekonomikuri krizisebis mimarT. Sesabamisad, saqarTvelos bazarze operaciebis warmoeba iseT riskebTanaaa

dakavSirebuli, rac ar aris damaxasiaTebili ganviTarebuli bazrebisaTvis. Tumca, bolo ramdenime wlis ganmavlobaSi

saqarTvelos mTavrobam Secvala samoqalaqo, sisxlis, sagadasaxado, administraciuli da samewarmeo kanonebi, ramac dadebiTad

imoqmeda qveyanaSi saerTo sainvesticio garemoze. saqarTvelos kargi saerTaSoriso reputacia aqvs sainvesticio garemos

kuTxiT. saqarTvelo korufciis dabali doniT gamoirCeva saerTaSoriso gamWvirvaloba 2013 wlis globaluri korufciis

barometris mixedviT.

warmodgenili finansuri angariSgeba momzadda finansuri angariSgebis saerTaSoriso standartebis (fass) Sesabamisad. kompania

sabuRaltro Canawerebs awarmoebs saqarTvelos sabuRaltro da sagadasaxado kanonmdeblobis Sesabamisad. warmodgenili

finansuri angariSgeba momzadda aRniSnuli buRaltruli Canawerebidan da saWiroebisamebr Sesworda, rom SesabamisobaSi

mosuliyo finansuri angariSgebis saerTaSoriso standartebTan.

finansuri mdgomareobis angariSgebaSi aqtivebi da valdebulebebi warmodgenilia maTi likvidurobis mixedviT da ar aris

dayofili rogorc mimdinare da grZelvadiani.

winamdebare finansuri angariSgeba Sedgenilia saqarTvelos erovnul valutaSi, larSi („lari").





SeniSvna 3 momzadebis safuZveli (gagrZeleba)

SeniSvna 4 ZiriTadi saaRricxvo politika

4.1 fuli da fulis ekvivalentebi

4.2 gacemuli sesxebi

4.3 gadaxdili avansebi

gverdi 8

gacemuli sesxi warmoadgens ara-warmoebul finansur aqtivebs, fiqsirebuli an gansazRvradi fasebiT, romelic ar aris

kotirebuli aqtiur bazarze. gacemuli sesxebi Tavdapirvelad aRiardeba sabazro Rirebulebas (romelic momxmarebelze

gacemuli sesxis Tanxis tolia), damatebuli sesxis gacemasTan dakavSirebuli tranzaqciis ganxorcielebis xarjebi. sesxi

SemdgomSi aRiricxeba amortizebuli RirebulebiT efeqturi saprocento ganakveTis meTodis gamoyenebiT. gacemuli sesxebi

wardgenilia neto RirebulebiT sesxebis gaufasurebis rezervebis gamoklebiT.

sesxis amortizebuli Rirebuleba aris sesxis Tavdapirvelad aRiarebul odenobas gamoklebuli gadaxdili sesxis Ziris

Tanxebi, damatebuli an gamoklebuli dagrovebuli amortizacia efeqturi ganakveTis meTodis gamoyenebiT nebismieri sxvaobisas

Tavdapirvelad aRiarebul raodenobasa da dasafar Tanxas Soris, gamoklebuli sesxis gaufasureba. Senatanebi da SeRavaTebi,

Tavdapirveli satranzaqcio xarjebis CaTvliT, Sedis Sesabamisi sesxis sabalanso RirebulebaSi da amortizdeba efeqturi

saprocento ganakveTis safuZvelze.

gacemuli sesxis gaufasurebis rezervi iqmneba maSin, rodesac arsebobs obieqturi mtkicebuleba, rom kompania ver SeZlebs

sasesxo xelSekrulebis pirobebis Sesabamisad Tanxis amoRebas. gacemuli sesxis sabalanso Rirebuleba mcirdeba rezervis

angariSis gamoyenebiT, xolo zaralis Tanxa aRiardeba sruli Semosavlebis angariSgebaSi. rodesac sesxi uimedoa, is

Camoiwereba rezervis angariSidan. sarezervo angariSidan sesxebi Camoiwereba mas Semdeg, rac menejmenti darwmundeba rom man

gamoiyena yvela SesaZlebloba sesxis Tanxis amosaRebad da mas Semdeg, rac kompania gayidis mis xelT arsebul yvela

uzrunvelyofas.

finansuri angariSgebis momzadeba moiTxovs Sefasebebis da daSvebebis gakeTebas, romlebic gavlenas axdenen warmodgenili

aqtivebisa da valdebulebebis Tanxebze, angariSgebis Sedgenis TariRisaTvis arsebul pirobiT aqtivebisa da valdebulebebis

moculobaze da saangariSgebo periodSi warmodgenili Semosavlebisa da xarjebis Tanxebze. miuxedavad imisa, rom es Sefasebebi

eyrdnoba menejmentis mxridan arsebuli movlenebisa da qmedebebis codnas, faqtobrivi Sedegebi SesaZloa saboloo jamSi

gansxvavdebodes am Sefasebebisgan.

fuli da fulis ekvivalentebi aris angariSgebis iseTi muxli, romlis konvertireba naRd fulSi SesaZlebelia erTi dReSi.

fuli da fulis ekvivalentebi moicavs: salaroSi arsebul naRd fuls da fuls mimdinare angariSebsa da anabrebze.

saqonlisa da momsaxurebis momwodeblebisTvis gadaxdili avansebi Tavdapirvelad aRiardeba gadaxdili Tanxis odenobiT da

saWiroebisamebr koreqtirdeba SesaZlo gaufasurebiT. avansebi iTvleba gaufasurebulad, rodesac arsebobs obieqturi

mtkicebuleba, rom kompania ver SeZlebs srulad miiRos is saqoneli da momsaxureba, rac gaTvaliswinebulia mxareebs Soris

Tavdapirveli SeTanxmebiT.

ucxour valutaSi arsebuli avansebi warmodgenilia gadaxdis TariRisTvis arsebuli gacvliTi kursiT da ar gadaangariSdeba

angariSgebis TariRisTvis arsebul kursze.





SeniSvna 4 ZiriTadi saaRricxvo politika (gagrZeleba)

4.4 investiciebi mekavSire kompaniaSi

4.5 ZiriTadi saSualebebi

aqtivebis jgufi sasargeblo momsaxureobis vada

Senoba-nagebobebi 50 weli

kompiuterebi da sakomunikacio aRWurviloba 5 weli

satransporto saSualebebi 5 weli

saofise aRWurviloba 5 weli

sxva aqtivebi 5 weli

4.6 aramaterialuri aqtivebi

gverdi 9

sasargeblo momsaxurebis vada, salikvidacio Rirebuleba da cveTis meTodebi gadaixedeba yovelwliurad imisaTvis, rom

Sefasdes maTi Rirebuleba Seesabameba Tu ara maTgan miRebul ekonomikur sargebels. ZiriTadi saSualebis Camowera xdeba misi

gayidvisas, an rodesac momavali ekonomikuri sargeblis miReba aRar aris mosalodneli misi gamoyenebis an gayidvis Sedegad.

ZiriTadi saSualebebis gayidva/CamowerasTan dakavSirebuli mogeba-zarali (gamoiTvleba rogorc sxvaoba Camoweridan miRebul

Semosavalsa da aqtivis sabalanso Rirebulebas Soris) aisaxeba sruli Semosavlebis angariSgebaSi im wels, rodesac moxda

ZiriTadi saSualebis gasvla/Camowera.

aramaterialuri aqtivi aris fizikuri formis armqone identificirebadi arafuladi aqtivi. aramaterialuri aqtivebi finansur

angariSgebaSi aRiardeba mxolod im SemTxvevaSi, Tu mosalodnelia, rom (a) am aqtivisgan mosalodnelia ekonomikuri mogebis

miReba; da (b) SesaZlebelia aqtivis Rirebulebis sarwmuno (realuri) Sefaseba. Tavdapirveli aRiarebis Semdeg aramaterialuri

aqtivebi aRiricxeba dagrovili amortizaciiT da nebismieri gaufasurebis zaraliT Semcirebuli RirebulebiT. amortizacia

gamoangariSeba wrfivi meTodis gamoyenebiT da sasargeblo momsaxureobis vadis gaTvaliswinebiT. kompaniis aramaterialuri

aqtivebis naSTi Sedgeba programuli sistemis Rirebulebisgan, romlis sasargeblo momsaxureobis vadaa 7 weli. aramaterialuri

aqtivebi ganusazRvreli saeqspluatacio vadiT ar amortizirdeba. isini yovelwliurad gadaixedeba gaufasuraze da

gaufasurebis zarali, romelic warmoSobisTanave dauyovnebliv aisaxeba sruli Semosavlebis angariSgebaSi. aramaterialuri

aqtivebi ganusazRvreli saeqspluatacio vadiT gadaixedeba yovelwliurad im mizniT, rom dadgindes kidev aris Tu ara

saeqspluatacio vada ganusazRvreli. Tu dadgindeba, rom saeqspluatacio vada gansazRvrulia, maSin aseTi aramaterialuri

aqtivebi amortizdeba gansazRvruli saeqspluatacio vadiT.

mekavSire sawarmo warmoadgens sawarmos, romelzec investors gaaCnia mniSvnelovani zegavlenis ufleba, Tumca ar warmoadgens

arc Svilobil da arc erTobliv sawarmos. mekavSire sawarmoSi ganxorcielebuli investiciebi aRricxulia kapitalmeTodis

gamoyenebiT. kapital-meTodis mixedviT mekavSire sawarmoebSi investiciebis asaxva finansuri mdgomareoebis angariSSi

xorcieldeba TviTRirebulebiT da Semdgom misi Rirebuleba koreqtirdeba Sesyidvis Semdgom mekavSire sawarmos mogeba zaralSi

investoris xvedriTi wilis cvlilebis Sesabamisad SeZenis TariRis Semdgom periodSi. investoris wili investirebuli

sawarmos mogeba-zaralSi aRiardeba investoris mogeba-zaralSi. investoris mier mekavSire sawarmodan dividendebis an sxva

gasanawilebeli Tanxebis miReba amcirebs investiciis mimdinare sabalanso Rirebulebas. investiciis mimdinare Rirebulebis

cvlileba SeiZleba agreTve gamoiwvios mekavSire sawarmos kapitalis iseTma cvlilebam, romelic asaxuli ar iyo mis mogebisa

da zaralis angariSgebaSi. aseTi cvlilebi warmoiSoba ZiriTadi saSualebebis gadafasebiT, ucxouri valutis kursis cvlileiT

gamowveuli sakurso sxvaobebiT. investoris wili am cvlilebebSi pirdapir aisaxeba investoris kapitalSi.

ZiriTadi saSualebebi aris materialuri aqtivebi, romlebic gamoiyeneba momsaxurebis gasawevad, ijariT gasacemad an

administraciuli miznebisTvis da gaTvaliswinebulia erT saangariSgebo periodze meti xniT gamosayeneblad. ZiriTadi

saSualebebi finansur angariSgebaSi asaxulia akumulirebuli cveTiT Semcirebuli istoriuli RirebulebiT. istroiuli

Rirebuleba moicavs am aqtivis SeZenasTan dakavSirebul pirdapir xarjebs. SeZenis Semdgomi danaxarjebi emateba aqtivis

sabalanso Rirebulebas an aRiardeba calke aqtivad, mxolod im SemTxvevaSi, Tu mosalodnelia, rom momavalSi am aqtivis

meSveobiT kompania miiRebs ekonomikur sargebels da SesaZloa am aqtivis Rirebulebis sarwmuno (realuri) Sefaseba. aqtivebis

mimdinare saremonto (SekeTebis) da Senaxvis danaxarjebi aisaxeba sruli Semosavlebis angariSgebaSi maTi gawevis periodebis

mixedviT. cveTa gamoangariSebulia wrfivi meTodis gamoyenebiT. ZiriTadi saSualebis cveTis daricxva warmoebs maTi

eqspluataciaSi Sesvlis TariRidan. ZiriTadi saSualebebis sasargeblo momsaxureobis vadebi warmodgenilia qvemoT mocemul

cxrilSi:






4.7 gasayidad gamiznuli grZelvadiani aqtivebi

4.8 mogebis gadasaxadi

4.9 arafinansuri aqtivebis gaufasureba

gverdi 10

gasayidad gamiznuli grZelvadiani aqtivebi Sedgeba uzrunvelyofaSi kompaniis mier dasakuTrebuli uzrunvelyofis

Rirebulebisgan, romlebic kompaniam miiRo msesxeblis mier sesxis gadauxdelobis Sedegad. uzrunvelyofa SeiZleba iyos miwa,

Senoba, saxli, avtomobili, sacxovrebeli bina, Zvirfasi qvebi/liTonebi an antikvaruli nivTebi.

mogebis gadasaxadi finansur angariSgebaSi warmodgenilia kanonmdeblobasTan Sesabamisad, romelic moqmedebda an amoqmedda

periodis bolos saqarTveloSi. mogebis gadasaxadis xarji moicavs mimdinare da gadavadebul gadasaxadebs da asaxulia mogeba

an zaralSi, garda im SemTxvevebisa, rodesac isini aisaxebian uSualod sruli Semosavlebis angariSgebaSi, vinaidan isini

dakavSirebulni arian garigebebTan, romlebic, igive an sxva periodiT, aseve asaxuli arian uSualod sruli Semosavlebis

angariSgebaSi.

mimdinare gadasaxadi warmoadgens im gadasaxdel Tanxas, romlis gadaxda an dabruneba unda moxdes sagadasaxado organoebTan

mimdinare da gasuli periodebis ganmavlobaSi dasabegr mogebasa Tu zaralTan dakavSirebiT. dasabegri mogeba an zarali

eyrdnoba Sefasebebs, Tu finansuri angariSgeba damtkicebulia sagadasaxado deklaraciis Sevsebamde. gadasaxadebi, garda mogebis

gadasaxadisa aRiricxeba administraciul da sxva saoperacio xarjebSi.

gadavadebuli mogebis gadasaxadi finansur angariSgebaSi aRiardeba sabalanso valdebulebis meTodis gamoyenebiT, aqtivebis

sagadasaxado (dasabegr) bazasa da finansur angariSgebaSi naCveneb maT sabalanso Rirebulebas Soris yvela droebiT

gansxvavebebze gadavadebuli mogebis gadasaxadis gansazRvra xdeba saqarTvelos sagadasaxado kanonmdeblobis mier balansis

TariRisaTvis dadgenili ganakveTebiT da im ganakveTis gaTvaliswinebiT, romelic ivaraudeba, rom dadgenili iqneba maSin,

rodesac moxdeba gadavadebuli mogebis gadasaxadis Sesabamisi aqtivis realizeba an valdebulebis dafarva. gadavadebuli

mogebis gadasaxadis aqtivis aRiareba xdeba im farglebSi, ra farglebSic mosalodnelia, rom kompanias momavalSi eqneba

dasabegri mogeba, romlis sapirispirod SesaZlebeli iqneba droebiTi sxvaobebis gamoyeneba.

arafinansuri aqtivebi, romlebic kompaniis SemTxvevaSi warmoadgens ZiriTad saSualebebsa da gasayidad gamiznul grZelvadian

aqtivebs, yoveli saangariSgebo TariRisTvis gadafasdeba gaufasurebis nebismieri niSnis arsebobisas.

gaufasurebis zaralis aRiareba xdeba maSin, roca aqtivis an misi fuladi nakadis warmomqmneli erTeulis sabalanso

Rirebuleba aWarbebs mis anazRaurebad Rirebulebas.

kompania dasakuTrebuli uzrunvelyofis gasayidad gamiznul grZelvadian aqtivad klasifikacias axdens im SemTxvevaSi Tu misgan

moelis sabalanso Rirebulebis amoRebas misi gayidviT da ara misi gamoyenebis gagrZelebiT. amisaTvis SesaZlebeli unda iyos

aqtivis dauyovnebliv gayidva arsebul mdgomareobaSi, mxolod aseTi aqtivebis gayidvis Cveulebrivi pirobebiT da misi gayidva

didad mosalodneli unda iyos. imisaTvis, rom gayidva didad mosalodneli iyos, xelmZRvanelobis Sesabamisi done aqtivis

gayidvis gegmas mxars unda uWerdes da SemuSavebuli unda iyos myidvelis moZebnisa da gegmis bolomde miyvanis aqtiuri

programa. garda amisa, unda moxdes aqtivis aqtiur gayidvaze mimarTuli marketingi, im fasad, romelic gonivrulia am aqtivis

realuri Rirebulebis gaTvaliswinebiT. garda amisa, am gayidvis aRiareba dasrulebul gayidvad SesaZlebeli unda iyos aqtivis

gasayidad gamiznulad klasificirebis dRidan erTi wlis ganmavlobaSi. amasTan, gegmis dasrulebisaTvis saWiro saqmianoba imis

dasturs unda iZleodes, rom gegmis mniSvnelovani cvlileba an gegmis gauqmeba mosalodneli ar aris.

Tu uzrunvelyofis gayidva ar aris ganzraxuli, misi aRiareba xdeba ZiriTad saSualebebSi an sainvesticio qonebaSi misi imis

mixedviT Tu rogor gegmavs kompaniis mis gamoyenebas da misi xelaxla gazomva da aRricxva xdeba aqtivis Sesabamisi kompaniis

saaRricxvo politikis Sesabamisad.

kompania afasebs gasayidad gamiznul grZelvadian aqtivebs sabalanso Rirebulebasa da gayidvis TanxebiT Semcirebul realur

Rirebulebas Soris umciresiT.






4.9 arafinansuri aqtivebis gaufasureba (gagrZeleba)

4.10 miRebuli sesxebi

4.11 sxva valdebulebebi

4.12 sawesdebo kapitali

4.13 saprocento Semosavlis da xarjis aRiareba

gverdi 11

efeqturi saprocento ganakveTis ganuyofeli mosakreblebi moicaven gacemis sakomisios, romelic miiReba an gadaixdevineba

piris mier finansuri aqtivis SeqmnasTan an SeZenasTan dakavSirebiT, an finansuri valdebulebis gamocemasTan dakavSirebiT, mag.

kreditunarianobis Sefasebis safasuri, garantiebis an giraos Sefaseba da gatareba, instrumentis pirobebis molaparakeba da

operaciis dokumentebis damuSaveba.

sxva valdebulebebi Tavdapirvelad aRiarebulia realuri RirebulebiT da SemdgomSi gamoiTvleba amortizebuli xarjiT.

arafinansur aqtivebTan dakavSirebuli gaufasurebis yvela zarali aisaxeba mogebaSi an zaralSi da koreqtirdeba mxolod im

SemTxvevaSi, Tu anazRaurebadi Rirebulebis gansazRvrisas gamoyenebul monacemebSi moxda cvlileba. koreqtirebuli

gaufasurebis zarali koreqtirdeba mxolod im zomiT, rom aqtivis sabalanso Rirebulebam ar gadaaWarbos mis anazRaurebad

Rirebulebas, romelic ganisazRvreboda cveTisa Tu amortizaciis gamoqviTviT, Tu ar moxdeboda gaufasurebis zaralis

aRiareba.

miRebuli sesxebi aRiardeba maTi amortizirebuli RirebulebiT efeqturi saprocento ganakveTis meTodiT. miRebuli sesxebi

klasificirdeba mimdinare valdebulebad, garda im SemTxvevisa, roca kompanias aqvs upirobo ufleba, rom gadaavados

valdebulebis dafarvis vada 12 Tveze meti vadiT saangariSgebo TariRidan. miRebul sesxebTan dakavSirebuli xarjebi aRiardeba

rogorc xarji im periodis mogeba/zaralis angariSgebaSi, ra periodSic es xarjebi warmoiSva.

sawesdebo kapitalis odenoba gansazRvrulia kompaniis wesdebaSi. kompaniis wesdebaSi cvlileba (cvlileba sawesdebo kapitalSi,

sakuTrebaSi, a.S.) xdeba kompaniis partniorTa gadawyvetilebiT. kapitali aRiardeba, rogorc kompaniis sawesdebo kapitali

imdenad, ramdenadac es realurad partniorTa Senatania.

aqtivebis anazRaurebadi Rirebuleba ganisazRvreba, rogorc Semdegi ori Rirebulebidan ufro didi: aqtivis gamoyenebis

Rirebuleba da misi samarTliani Rirebuleba realizaciis xarjebis gamoklebiT. gamoyenebis Rirebulebis Sefasebisas samomavlo

saangariSo fuladi nakadebi diskontirdeba maT mimdinare Rirebulebamde, dabegvramde arsebuli diskontirebis ganakveTis

gamoyenebiT, romelic asaxavs fulis droiTi Rirebulebis mimdinare sabazro Sefasebebs da aqtivisTvis damaxasiaTebel riskebs.

im aqtivTan dakavSirebiT, romelsac ar Semoaqvs fuladi nakadebi, anazRaurebadi Rirebuleba ganisazRvreba fuladi nakadebis

warmomqmneli im erTeulisaTvis, romelsac aRniSnuli aqtivi miekuTvneba.

rodesac sesxebi da sxva savalo instrumentebi xdeba rTulad amosaRebi, isini miewereba mosalodneli fuladi nakadebis

mimdinare Rirebulebas da amis Semdgom saprocento Semosavali Caiwereba mimdinare Rirebulebis diskontiT aqtivis efeqturi

saprocento ganakveTis meTodiT, romelic gamoyenebul iqna gaufasurebuli zaralis dasaTvlelad.

saprocento Semosavali da xarji aisaxeba yvela savalo instrumentTan mimarTebaSi daricxvis principis safuZvelze efeqturi

saprocento ganakveTis meTodis gamoyenebiT. es meTodi, efeqturi saprocento ganakveTis gaangariSebisTvis iTvaliswinebs

xelSekrulebis mxareebs Soris gadaxdil an miRebul yvela saxis gadasaxdels, maT Soris tranzaqciis danaxarjebs,

fasnamatebsa da fasdaklebebs, romlebic warmoadgenen efeqturi saprocento ganakveTis ganuyofel nawils.






4.14 mosakreblebi, sakomisioebi, sxva Semosavlebi da xarjebi

4.15 ucxouri valutis gadafaseba

31-dek-14 31-dek-13

aSS dolari 1.8636 1.7363

evro 2.2656 2.3891

britanuli funti 2.8932 2.8614

Sveicaruli franki 1.8834 1.9491

rusuli rubli 0.0329 0.0531

Turquli lira 0.8040 0.8122

somxuri drami 0.0040 0.0043

filipinuri peso 0.0416 0.0388

indoneziuri rupia 0.0001 0.0001

latviuri lati NA 3.3715

bangladeSuri taka 0.0240 0.0225

4.16 urTierTgadafarva

SeniSvna 5 kritikuli saaRricxvo Sefasebebi

gverdi 12

Semosavlebis da xarjebis urTierTgadafarva ar xdeba, Tu is ar moiTxoveba da nebadarTuli ar aris fass-is mixedviT da ar

aris TandarTuli kompaniis saaRricxvo politikaSi.

saaRricxvo politikis Sedgenisas, kompaniis menejments moeTxoveba gaakeTos daSvebebi da Sefasebebi aqtivebisa da

valdebulebebis sabalanso Rirebulebebze, romlebic calsaxad zustad ver ganisazRvreba sxva wyaroebidan.

Sefasebebi da daSvebebi eyrdnoba istoriul gamocdilebas da sxva dakavSirebul faqtorebs. realuri Sedegebi am Sefasebebisgan

SeiZleba gansxvavdebodes. daSvebebi da Sefasebebi mudmivad gadaixedeba. Sefasebebis gadaxedva aisaxeba im periodisaTvis, roca

is ganxorcielda, Tu gadaxedva zemoqmedebs mimdinare da momdevno periodebze.

qvemoT mocemulia mniSvnelovani Sefasebebi momavalze da sxva ZiriTadi wyaroebi saangariSgebo periodis bolosaTvis, romlebic

Seicaven did risks, ramac SeiZleba gamoiwvios aqtivebisa da valdebulebebis sabalanso Rirebulebis koreqtireba momdevno

saangariSo periodisaTvis.

yvela sxva mosakrebeli da sakomisio, aseve sxva Semosavlebi da xarjebi aRiricxeba daricxvis meTodiT konkretuli operaciis

dasrulebasTan mimarTebaSi, romelic fasdeba faqtiurad uzrunvelyofili momsaxurebis safuZvelze, rogorc misawodebeli

sruli momsaxurebis Semadgeneli nawili.

saoperacio ijarasTan dakavSirebuli xarjebi aRiardeba sruli Semosavlebis angariSgebaSi wrfivi meTodis gamoyenebiT

saoperacio ijaris vadis amowurvamde. ijaridan miRebuli Semosavlebi aRiardeba rogorc mTliani ijaris ganuyofeli nawili

ijaris vadis ganmavlobaSi.

ucxour valutaSi gamosaxuli garigebebi aRiricxeba im gacvliTi kursis Sesabamisad, romelic arsebobs operaciis

TariRisaTvis. ucxour valutaSi gamosaxuli garigebis ganxorcielebis Sedegad warmoqmnili gacvliTi kursis sxvaobebi

aisaxeba mogeba-zaralis uwyisSi im dRisaTvis arsebuli gacvliTi kursis Sesabamisad.

ucxour valutaSi gamosaxuli fuladi aqtivebi da valdebulebebi gadayvanilia qarTul larSi saqarTvelos erovnuli bankis

mier saangariSgebo periodis bolo TariRisaTvis gamocxadebuli oficialuri gacvliTi kursis Sesabamisad.2014 wlis 31

dekembrisaTvis ucxouri valutis naSTebis larebSi gadayvanisaTvis gamoyenebuli ZiriTadi ganakveTi iyo:

finansuri aqtivebi (gacemuli sesxebi da moTxovnebi) da valdebulebebi (miReuli sesxebi da valdebulebebi)

urTierTgadaifareba da aisaxeba finansuri mdgomarebis angariSgebaSi wminda TanxiT mxolod maSin, roca arsebobs aRiarebuli

Tanxebis urTierTgadafarvis kanonieri ufleba da arsebobs ganzraxva imisa, rom aRniSnuli Tanxebi anazRaurdes wminda

RirebulebiT an moxdes aqtivebis da valdebulebebis anazRaureba erTdroulad.



2014 wlis 31 dekembers dasrulebuli wlisaTvis


SeniSvna 5 kritikuli saaRricxvo Sefasebebi (gagrZeleba)

SeniSvna 6 fuli da fulis ekvivalentebi


naRdi fuli 6.1 2,062,663 2,039,909

fuli bankSi 6.1 1,838,061 6,140,880

sul 3,900,724 8,180,790

6.1 fuli da fulis ekvivalentebi valutebis mixedviT

31-dek-14 31-dek-13

qarTuli lari (GEL) 707,817 843,815

aSS dolari (USD) 1,098,538 1,316,179

evro (EUR) 1,668,774 3,512,911

didi britaneTis girvanqa sterlingi (GBP) 138,185 91,613

azerbaijanuli manaTi (AZN) 113,164 -

rusuli rubli (RUR) 102,973 2,397,158

Sveicaruli franki (CHF) 20,433 95

kanaduri dolari (CAD) 15,532 -

Turquli lira (TRY) 12,711 19,018

bangladeSuri taka (BDT) 11,954 -

somxuri drami (AMD) 3,901 -

Cinuri iuani (CNY) 3,488 -

arabeTis gaerTianebuli saamieroebis dirhami (AED) 1,679 -

Sveduri kroni (SEK) 1,413 -

polonuri zloti (PLN) 158 -

filipinuri peso (PHP) 3 -

sul 3,900,724 8,180,790

gverdi 13

sesxis gaufasurebis xarji - kompania sesxebis da moTxovnebis amoRebadobis Sefasebas akeTebs gamocdilebaze da menejmentis

msjelobebze dayrdnobiT da rodesac daaskvnis, rom kompania savaraudod mTlianad ver miiRebs misaReb Tanxebs maSin aRiarebs

gaufasurebis xarjs. amgvarad sesxebis gaufasurebis xarji damokidebulia menejmentis Sefasebebze da msjelobebze da SesaZloa

realuri danaxarjebi gansxvavdebodes imisgan, rasac menejmenti am angariSgebaSi waradgens.

gadasaxadebi - saqarTvelos sagadasaxado, savaluto da sabaJo kanonmdebloba iZleva sxvadasxvagvarad interpretirebis

saSualebas. kompaniis menejmenti aRiarebs valdebulebebs mosalodneli damatebiTi sagadasaxado gaangariSebebisTvis

sagadasaxado auditis Sefasebebis Sedegis safuZvelze, aris Tu ara imis albaToba, rom kompanias daekisreba damatebiTi

gadasaxdebi. roca saboloo sagadasaxdo Sedegebi gansxvavdeba Tavdapirvelad aRricxuli raodenobisgan, es sxvaobebi gavlenas

axdenen im periodze, roca aRniSnuli gansazRvrebebi gakeTda.

kompaniis fuladi saxsrebis umetesoba aris im bankebSi, romlebic Fitch-is mier Sefasebulia, rogorc B-is mqone (moklevadiani

reitingi), BB-is mqone (grZelvadiani reitingi).

ZiriTadi saSualebebis sasargeblo momsaxureobis vada – ZiriTadi saSualebebis sasargeblo momsaxureobis vadis Sefaseba

efuZneba menejmentis gamocdilebas msgavsi aqtivebis SefasebasTan mimarTebaSi. ZiriTadi saSualebebis sasargeblo momsaxureobis

vadis gansazRvrisas menejmenti iTvaliswinebs savaraudo gamoyenebas, savaraudo teqnikur gaumarTaobas, fizikur cveTas da

garemos, sadac am aqtivs uxdeba muSaoba. SefasebebSi cvlilebebma SeiZleba gamoiwvios momavalSi cveTis xarjis koreqtireba.





SeniSvna 7 gacemuli sesxebi


ipoTekuri/samomxmareblo sesxi 327,078 18,384

salombarde sesxi 4,356,487 3,855,396

samomxmareblo sesxi 389,634 653,856

sakredito xazi 597,860 -

daricxuli procenti 87,077 16,356

mTliani gacemuli sesxebi 7.1; 7.2 5,758,135 4,543,992

minus: gaufasurebis rezervi 7.4 (183,312) (177,042)

wminda gacemuli sesxebi 5,574,823 4,366,950

7.1 mTliani sasesxo portfeli Ziris da daricxuli procentis mixedviT

31-dek-14 31-dek-13

sesxis Ziri 5,671,058 4,527,636

daricxuli procenti 87,077 16,356

mTliani sasesxo portfeli 5,758,135 4,543,992

7.2 mTliani sasesxo porTfelis ganawileba sesxis vadianobis mixedviT

31-dek-14 31-dek-13

1 welze naklebi 4,665,752 3,904,894

1-dan 3 wlamde 800,903 604,358

3-dan 5 wlamde 204,403 -

5 welze meti - 18,384

sul gacemuli sesxebi 5,671,058 4,527,636

7.3 uzrunvelyofis analizi

ipoTekuri/samomxmareblo sesxi 327,078 1,174,607 18,384 164,949

salombarde sesxi 4,356,487 4,349,455 3,855,396 3,949,926

samomxmareblo sesxi 389,634 3,700 653,856 -

sakredito xazi 597,860 - - -

sul 5,671,058 5,527,762 4,527,636 4,114,875

* FVLCS - uzrunvelyofis realur Rirebulebas gamoklebuli gayidvasTan dakavSirebuli xarjebi

gverdi 14

31-dek-14 31-dek-13sesxis

mimdinare

Rirebuleba

uzrunvely

ofis

FVLCS *

sesxis

mimdinare

Rirebuleb

uzrunvelyo

fis

FVLCS *

kompania sesxebs gascems ZiriTadad fizikur pirebze, nebismieri miznobriobiT. ZiriTadad kompania sesxebs gascems aSS dolarSi

1 Tvidan 5 wlamde vadiT. gacemuli sesxebis wliuri procenti ZiriTadad meryeobs 24 procentidan 30 procentamde. zogierT

SemTxvevaSi sesxebi gacemulia aseve 18% da 72 %-Sic. dafarvis grafikis mixedviT gacemuli sesxebi 2 jgufad iyofa: sesxis

Ziris vadis bolos dafarviT da anuitetis principiT. gacemuli sesxebi uzrunvelyofilia uZravi qonebiT, TavdebobiT,

Zvirfasi qvebiT/liToniT, antikvaruli nivTebiT, avtomobilebiT, msesxeblisgan (an mesame pirisgan) miRebuli kreditiT an

garantiiT, Tumca gvxvdeba arauzrunvelyofili sesxebic.

kompaniis mier gacemuli sesxebi uzrunvelyofilia uZravi qonebiT (miwa, Senoba), avtomobiliT,

msesxeblisgan (an mesame pirisgan) miRebuli kreditiT, garantiiT, Zvirfasi liTonebiT/qvebiT an antikvariT.

qvemoT mocemuli cxrili asaxavs sesxis naSTebis analizs (sesxebis gaufasurebis rezervis gamoklebis

gareSe) maTi Sesabamisi uzrunvelyofis samarTlian RirebulebebTan mimarTebaSi (gayidvasTan dakavSirebuli

xarjebis gamoklebiT: realur Rirebulebas gamoklebuli giraos gayidvasTan dakavSirebuli xarjebi)





SeniSvna 7 gacemuli sesxebi (gagrZeleba)

7.4 sesxebis gaufasurebis rezervi

2013 wlis 31 dekembris mdgomareobiT

vadagadacilebuli dReebirezervis

%

sesxis

Tanxa

rezervis

Tanxa

0 2% 5,544,886 110,903

1-30 10% 27,979 2,798

31-90 30% 5,280 1,584

91-150 50% 49,771 24,886

150< 100% 43,142 43,142

sul 5,671,058 183,312

2014 wlis 31 dekembris mdgomareobiT

vadagadacilebuli dReebirezervis

%

sesxis

Tanxa

rezervis

Tanxa

0 2% 4,428,687 88,571

1-30 10% 11,642 1,164

31-90 30% - -

91-150 50% - -

150< 100% 87,307 87,307

sul 4,527,636 177,042

cvlileba sesxis gaufasurebis rezervSi

31-dek-14 31-dek-13

balansi naSTi 1 ianvrisTvis 177,042 215,836

plius: mimdinare periodis saeWvo sesxebi 6,270 25,572

minus: mimdinare periodSi Camowerili uimedo sesxebi - -

minus: aRdgenili saeWvo sesxebi - (64,366)

naSTi 31 dekembrisTvis 183,312 177,042

gverdi 15

miuxedavad imisa, rom kompaniis mier gacemuli yvela sesxi uzrunvelyofilia uZravi qonebiT, avtomobiliT,

msesxeblisgan (an mesame pirisgan) miRebuli kreditiT, garantiiT, Zvirfasi liTonebiT/qvebiT an antikvariT,

menejments mizanSewonilad miaCnia sesxebis vadagadacilebis xangrZlivobis mixedviT SevqmnaT saeWvo valebis

rezervi. am rezervis detalebi mocemulia qvemoT moyvanil cxrilSi:





SeniSvna 7 gacemuli sesxebi (gagrZeleba)

7.5 gacemuli sesxebi Ziris mixedviT

2014 weli ipoTekuri/s

amomxmarebl

o sesxi

salombarde

sesxi

samomxmareb

lo sesxi

sakredito

xazisul

2013 wlis 31 dekembris mdgomareobiT 18,384 3,855,397 653,856 - 4,527,635

damatebebi 345,093 7,005,574 1,205,344 3,754,735 12,310,746

gadaxdili Ziri (36,398) (6,761,979) (1,469,008) (3,156,875) (11,424,260)

Ziris Camowera - (650) (558) - (1,208)

sakurso sxvaoba - 258,146 - - 258,146

2014 wlis 31 dekembris mdgomareobiT 327,078 4,356,487 389,634 597,860 5,671,058

2013 weli ipoTekuri/s

amomxmarebl

o sesxi

salombarde

sesxi

samomxmareb

lo sesxi

sakredito

xazisul


damatebebi 5,300 8,178,926 1,048,539 - 9,232,765

gadaxdili Ziri (1,118) (6,202,196) (974,011) - (7,177,326)

Ziris Camowera - - - - -

sakurso sxvaoba 655 126,035 - - 126,690


SeniSvna 8 sagadasaxado aqtivebi

31-dek-14 31-dek-13

gadaxdili dRg 7,474 -

sxva gadasaxadebi 18,895 6,405

sul 26,368 6,405

gverdi 16





SeniSvna 9 ZiriTadi saSualebebi

2013 weli

miwa da

Senobebi

kompiutereb

i da

komunicakii

s

saSualebebi

avtomobile

bi

saofise

aRWurvilo

ba

sxva

aqtivebisul

istoriuli Rirebuleba

naSTi 2012 wlis 31 dekembrisTvis 2,794,832 256,011 35,289 30,707 42,982 3,159,821

damatebebi 115,493 63,814 87,334 47,174 157,870 471,685


akumulirebuli cveTa

naSTi 2012 wlis 31 dekembrisTvis (138,519) (144,390) (30,870) (24,055) (22,087) (359,921)

periodis cveTa (55,031) (39,259) (6,186) (3,108) (9,225) (112,809)

(193,550) (183,649) (37,056) (27,163) (31,312) (472,730)

narCeni Rirebuleba



2014 weli

miwa da

Senobebi

kompiutereb

i da

komunicakii

s

saSualebebi

avtomobile

bi

saofise

aRWurvilo

ba

sxva

aqtivebisul

istoriuli Rirebuleba

naSTi 2013 wlis 31 dekembrisaTvis 2,867,031 319,825 122,623 77,881 200,852 3,588,212

damatebebi 3,583 50,548 - 9,219 24,820 88,168

Camowerebi (430,050) - - - - (430,050)


akumulirebuli cveTa

naSTi 2013 wlis 31 dekembrisaTvis (193,550) (183,649) (37,056) (27,163) (31,312) (472,730)

periodis cveTa (57,341) (47,207) (17,467) (12,692) (31,355) (166,061)

Camowerebi 29,799 - - - - 29,799

naSTi 2014 wlis 31 dekembrisTvis (221,092) (230,856) (54,523) (39,855) (62,667) (608,992)

narCeni Rirebuleba



gverdi 17

ZiriTadi saSualebebi neto sabalanso RirebulebiT 2,075,889 lari (mTliani ZiriTadi saSualebebis 83%) Cadebulia

uzrunvelyofaSi kompaniis mier bankebisgan aRebuli sesxisTvis.

naSTi 2013 wlis 31 dekembrisaTvis





SeniSvna 10 gadavadebuli da mimdinare mogebis gadasaxadi

gadavadebuli gadasaxadis komponentebi: aqtivi/(valdebuleba)

31-dek-14 31-dek-13

gacemuli sesxebi 27,497 26,556

ZiriTadi saSualebebi (6,584) (98,314)

aramaterialuri aqtivebi (5,338) 201

miRebuli sesxebi 6,296 3,436

gadavadebuli sagadasaxado aqtivi / (valdebuleba) 21,871 (68,120)

cvlileba gadavadebul gadasaxadSi wlis ganmavlobaSi 2014 weli 2013 weli

wlis dasawyisi - aqtivi (valdebuleba) (68,120) (42,042)

cvlileba wlis ganmavlobaSi - sargebeli /(xarji) 89,991 (26,078)

wlis bolos 21,871 (68,120)

mimdinare wlis mogebis gadasaxadis xarji 2014 weli 2013 weli

normatiuli sagadasaxado xarji (178,365) (232,150)

efeqti gadavadebul gadasaxadze 89,991 (26,078)

sul mogebis gadasaxadisgan (xarji)/sargebeli (88,375) (258,228)

gverdi 18

ZiriTadi saSualebebi da aramaterialuri aqtivebi - saqarTvelos sagadasaxado kodeqss da fass-s Soris

arsebobs garkveuli gansxvavebebi aqtivebis aRiarebis kriteriumebSi, cveTa/amortizaciis meTodebSi,

sasargeblo momsaxureobis vadebis gansazRvraSi da gaufasurebis zaralis aRiarebaSi, romlebic warmoSobs

gansxvavebebs fass-is mier gansazRvrul ZiriTadi saSualebebis/aramaterialuri aqtivebis sabalanso

Rirebulebebsa da am aqtivebis sagadasaxado bazas Soris. es sxvaobebi warmoSobs gadavadebul gadasaxadebs.

aseve, zogierTi ZiriTadi saSualebis Camowera, romelic asaxulia fass-is mixedviT momzadebul finansur

angariSgebaSi erT periodSi SeiZleba gamoiqviTos sagadasaxado miznebisTvis mxolod Semdgomi periodSi,

roca moxdeba konkretuli administraciuli procedurebis dasruleba.

miRebuli sesxebi - ararezidenti kompaniebisa da fizikuri pirebisgan miRebul sesxebis saprocento xarjebi

gamoiqviTeba sagadasaxado miznebisaTvis sakaso meTodiT, anu maTi gadaxdisas. Tumca finansur angariSgebaSi

asaxulia daricxvis meTodis gamoyenebiT.

gadasaxadebis gadavadebis mizezebi mokled qvemoT aris mocemuli:

gacemuli sesxebi - gacemuli sesxebi asaxuli, rogorc saeWvo da uimedo valebi, romlebic sagadasaxado

miznebisaTvis ar aRiardeba garkveuli administraciuli da samarTlebrivi procedurebis dasrulebamde. am

dromde finansuri angariSgebaSi asaxuli da sagadasaxado miznebisaTvis gauTvaliswinebuli uimedo valebi

warmoSobs gadavadebul gadasaxads.





SeniSvna 11 sxva aqtivebi

31-dek-14 31-dek-13

dasakuTrebuli uzrunvelyofa 54,413 11,126 sxva moTxovnebi 1,135,709 761,550 sxva aqtivebi 5,974 13,005

sul 1,196,096 785,681

SeniSvna 12 miRebuli sesxebi

31-dek-14 31-dek-13

damfuZneblebisagan miRebuli sesxebi 386,653 -

sxva dakavSirebuli mxareebisgan miRebuli sesxebi 3,846,471 5,035,270

sxva pirebisgan miRebuli sesxebi 1,902,576 162,155

procenti 41,973 22,907

sul 6,177,673 5,220,332

miRebuli sesis Ziri Tanxebis ganawileba vadianobis mixedviT

31-dek-14 31-dek-13

1 welze naklebi 170,724 -

1-dan 3 wlamde 5,874,518 5,040,738

3-dan 5 wlamde 90,458 156,687

sul miRebuli sesxebi 6,135,700 5,197,425

2014 weliiuridiuli

pirebi

fizikuri

pirebisul

2013 wlis 31 dekembris mdgomareobiT 5,035,270 162,155 5,197,425

miRebuli sesxis Ziris Tanxa 3,307,248 942,935 4,250,183

gadaxdili Ziri (3,474,495) (260,878) (3,735,373)

sakurso sxvaoba 359,945 63,520 423,465


2013 weliiuridiuli

pirebi

fizikuri

pirebisul

2012 wlis 31 dekembris mdgomareobiT 331,540 192,032 523,572

miRebuli sesxis Ziris Tanxa 5,446,527 254,757 5,701,284

gadaxdili Ziri (996,915) (294,068) (1,290,982)

sakurso sxvaoba 253,010 10,542 263,552


gverdi 19

kompanias miRebuli aqvs sesxebi damfuZneblebisgan, dakavSirebuli mxareebisgan da sxva aradakavSirebuli

fizikuri da iuridiuli pirebisagan (maT Soris bankebisgan). sesxebis aReba ZiriTadad xdeba a.S.S dolarSi

wliuri 12%-18% saprocento ganakveTiT. sasesxo xelSekrulebebis mixedviT saprocento ganakveTebi

fiqsirebulia, Tumca momavalSi SesaZloa Seicvalos. sesxis sakontraqto xangrZlivoba meryeobs 1 dan 3

wlamde, Tumca zogierT SemTxvevaSi, mxareebs Soris molaparakebis safuZvelze SeiZleba kidev ufro

gaxangrZlivdes. sesxebi uzrunvelyofilia kompaniis sakuTrebaSi arsebuli aqtivebiT.

Semdegi cxrilebi aCvenebs aRebuli sesxebis Ziri Tanxis cvlilebebs periodSi





SeniSvna 13 gadasaxdeli gadasaxadebi

31-dek-14 31-dek-13

gadasaxdeli mogebis gadasaxadi 21,687 64,460

gadasaxdeli dRg 10,732 2,230

gadasaxdeli qonebis gadasaxadi 66 -

sul 32,485 66,691

SeniSvna 14 sawesdebo kapitali

SeniSvna 15 saoperacio da administraciuli xarjebi

2014 weli 2013 weli

personalis xarjebi 1,570,036 1,206,188

cveTa da amortizacia 182,961 128,237

reklama 155,436 115,243

mivlineba da wamomadgenlobiTi xarjebi 143,704 287,629

saofise xarjebi (ijara, inventari da a.S.) 79,586 118,505

iuridiuli da sakonsultacio xarjebi 65,835 72,185

satransporto saSualebebis ijara da Senaxvis xarjebi 56,792 46,130

sagadasaxado xarjebi 158,516 157,635

safosto-satelegrafo xarjebi 165,068 148,159

sxva saerTo xarjebi 451,726 307,821

sul 3,029,660 2,587,733

gverdi 20

Sps mikrosafinanso organizacia intel eqspres jorjias sawesdebo kapitali gansazRvrulia larSi kompaniis wesdebis Tanaxmad.

damtkicebuli da ganaRdebuli sawesdebo kapitali 2014 wlis 31 dekembrisaTvis Seadgens 1,000,000 lars.





SeniSvna 16 finansuri riskebis marTva

16.1 savaluto riski

2014 wlis 31 dekembrisaTvis

lari dolari evro sxva

valutebi

sul

1 dolari 1 evro =1.8636 lars 2.2656 lars

finansuri aqtivebi

fuli da fulis eqvivalentebi 707,817 1,098,538 1,668,774 425,595 3,900,724

fuladi gzavnilebis komp. misaRebi Tanxa 50,531 414,131 3,839,801 2,662,159 6,966,622

gacemuli sesxebi 1,365,672 3,453,363 744,406 11,382 5,574,823

sagadasaxado aqtivebi 26,368 - - - 26,368

sxva aqtivebi 1,196,096 - - - 1,196,096

sul 3,346,484 4,966,032 6,252,980 17,664,632

finansuri valdebulebebi

miRebuli sesxebi 3,128 6,170,595 3,949 - 6,177,672

658,199 926,226 10,339,503 785,288 12,709,216

gadasaxdeli gadasaxadebi 32,485 - - - 32,485

sxva valdebulebebi 45,439 - - - 45,439

sul 739,251 7,096,821 10,343,452 18,964,812

wminda savaluto pozicia 2,607,232 (2,130,789) (4,090,472)

gverdi 21

savaluto riski aris savaluto kursis meryeobis riski, romelic uaryofiT gavlenas axdens kompaniis

finansuri mdgomareobaze da momgebianobaze. savaluto riski warmoiSoba ucxour valutaSi denominirebuli

aqtivebisa da valdebulebebisgan.

kompanias gaaCnia ucxour valutaSi denominirebuli finansuri aqtivebi da valdebulebebi - kompaniis mier

sesxebis gacema da sesxis miReba ZiriTadad xdeba aSS dolarSi, Tumca sesxebi gaicema aseve evroSic da sxva

valutaSic. aqedan gamomdinare, savaluto kursis cvlileba SesaZloa mniSvnelovani aRmoCndes kompaniisTvis.

menejmenti akontrolebs savaluto risks, imiT, rom cdilobs aqtivebi da valdebulebebi erTidaimave

valutaSi hqondes. kompania sesxs ZiriTadad gascems aSS dolarSi da amitom Tavadac sesxebs ZiriTadad

iRebs aSS dolarSi.

qvemoT mocemulia kompaniis finansuri aqtivebisa da finansuri valdebulebebis cxrili valutebis mixedviT

(Sesabamisi ekvivalentebiT larSi). investiciebi arafulad aqtivebSi ar warmoSobs savaluto riskebs.

fuladi gzavnilebis kompaniebisTvis

gadasaxdeli Tanxa





SeniSvna 16 finansuri riskebis marTva (gagrZeleba)

16.1 savaluto riski (gagrZeleba)

2013 wlis 31 dekembrisTvis

lari dolari evro sxva

valutebi

sul

1 dolari= 1 evro =

1.8636 lars 2.2656 lars

finansuri aqtivebi

fuli da fulis eqvivalentebi 843,815 1,316,179 3,512,911 2,507,884 8,180,790

fuladi gzavnilebis komp. misaRebi Tanxa 19,807 422,623 1,746,878 1,548,492 3,737,799

gacemuli sesxebi 1,069,778 2,705,138 583,118 8,916 4,366,950


sxva aqtivebi 785,681 - - - 785,681

sul 2,725,486 4,443,940 5,842,907 17,077,625


miRebuli sesxebi - 5,220,332 - - 5,220,332

765,752 1,322,053 7,555,590 2,821,790 12,465,185



sul 878,826 6,542,385 7,555,590 17,798,590

wminda savaluto pozicia 1,846,660 (2,098,445) (1,712,683)

valuta

aSS dolari -10% (213,079) (181,117) (209,844) (178,368)

-5% (106,539) (90,559) (104,922) (89,184)

5% 106,539 90,559 104,922 89,184

10% 213,079 181,117 209,844 178,368

16.2 likvidurobis riski

gverdi 22

likvidurobis riski warmoadgens risks, rom kompania ver SeZlebs droulad mis mimarT arsebuli

valdebulebebis dafarvas. likvidurobis riski warmoiSoba aqtivebisa da valdebulebebis vadianobis

Seusabamobisas.

menejmenti aseTi tipis riskebis marTvas axdens vadianobis analiziT, gansazRvravs ra kompaniis strategias

momavali finansuri periodisaTvis. imisaTvis, rom marTos likvidurobis riski, kompania axdens mosalodneli

momaval fuladi nakadebis mudmiv monitorings, rac aqtivebisa da valdebulebebis marTvis procesis nawilia.

2014 weli 2013 welicvlileba

kursSi

gavlena

mogebaze

gavlena

kapitalze

gavlena

mogebaze

gavlena

kapitalze

qvemoT mocemul cxrilSi warmodgenilia laris mimarT ucxouri valutis kursSi cvlilebebis zegavlenis

analizi kompaniis sruli Semosavlebis angariSgebaze sxva cvladebis ucvlelobis dros. uaryofiTi Tanxebi

warmoadgens wminda Semcirebas sruli Semosavlebis angariSgebaSi an kapitalSi, dadebiTi Tanxebi ki asaxavs

wminda SesaZlo zrdas. sabaziso valuta aris lari. yvela Tanxa warmodgenilia aTas larSi.


gadasaxdeli Tanxa






16.2 likvidurobis riski (gagrZeleba)


1 welze

naklebi vadis

mqone

1-dan 3

wlamde vadis

mqone

3-dan 5

wlamde

vadis mqone

5 welze

meti vadis

mqone

sul

finansuri aqtivebi

fuli da fulis ekvivalentebi 3,900,724 - - - 3,900,724

fuladi gzavnilebis komp. misaRebi Tanxebi 6,966,622 - - - 6,966,622

gacemuli sesxebi 4,569,517 800,903 204,403 - 5,574,823

gadaxdili avansebi 50,043 - - - 50,043


sxva aqtivebi 1,196,096 - - - 1,196,096

sul 16,709,369 800,903 204,403 - 17,714,675


miRebuli sesxebi 212,697 5,874,518 90,458 - 6,177,673

12,709,215 - - - 12,709,215



sul 12,999,836 5,874,518 90,458 - 18,964,811

likvidurobis sxvaoba 3,709,534 (5,073,615) 113,945 - (1,250,136)

wminda likvidurobis sxvaoba 3,709,534 (1,364,081) (1,250,136) (1,250,136)


1 welze

naklebi vadis

mqone

1-dan 3

wlamde vadis

mqone

3-dan 5

wlamde

vadis mqone

5 welze

meti vadis

mqone

sul

finansuri aqtivebi

fuli da fulis ekvivalentebi 8,180,790 - - - 8,180,790

fuladi gzavnilebis komp. misaRebi Tanxebi 3,737,800 - - - 3,737,800

gacemuli sesxebi 3,744,208 604,357 - 18,384 4,366,950

gadaxdili avansebi 41,072 - - - 41,072


sxva aqtivebi 785,681 - - - 785,681

sul 16,495,956 604,357 - 18,384 17,118,698


miRebuli sesxebi - 5,220,332 - - 5,220,332

12,465,185 - - - 12,465,185



sul 12,578,259 5,220,332 - - 17,798,590

likvidurobis sxvaoba 3,917,697 (4,615,974) - 18,384 (679,893)

wminda likvidurobis sxvaoba 3,917,697 (698,277) (698,277) (679,893)

gverdi 23

qvemoT mocemuli cxrili gviCvenebs vadianobis analizs kompaniis arawarmoebul finansur aqtivebsa da

valdebulebebze darCenili sakontraqto vadebis mixedviT. qvemoT warmodgenili monacemebi efuZneba kompaniis

xelmZRvanelobis mimarT miwodebul informacias.


gadasaxdeli Tanxebi


gadasaxdeli Tanxebi






16.3 saprocento riski

16.4 sakredito riski

31-dek-14 31-dek-13

fuli da fulis ekvivalentebi 3,900,724 8,180,790

gacemuli sesxebi 5,574,823 4,366,950

sul 9,475,546 12,547,740

SeniSvna 17

17.1 realuri Rirebulebebi da saaRricxvo klasifikaciebi

gverdi 24

yvela finansuri instrumentis Sefasebuli realuri Rirebuleba daaxloebiT maTi sabalanso Rirebulebis

tolia. yvela finansuri aqtivisa da valdebulebis realuri Rirebuleba gamoiTvleba fuladi nakadebis

diskontirebis meTodiT, romelic efuZneba momaval fulad nakadebs da msgavsi instrumentebis

diskontorebis koeficients saangariSo TariRisaTvis. kompania iyenebs Sefasebis farTod aRiarebul

modelebs Cveulebrivi da ufro martivi finansuri instrumentebis realuri Rirebulebis gansasazRvrad,

romlebic iyeneben mxolod TvalsaCino sabazaro monacemebs da xelmZRvanelobis mxridan mciredi daSvebebisa

da Sefasebebis gamoyeneba sWirdebaT.

saprocento ganakveTis riski warmoiSoba saprocento ganakveTebSi cvlilebebidan, romelic zegavlenas

moaxdens fuladi nakadebze an finansuri aqtivebis realur Rirebulebebze. kompaniis saoperacio Semosavali

da fuladi nakadebi ar aris damokidebuli saprocento ganakveTebis cvlilebebze, vinaidan miuxedavad imisa

rom kompanias aqvs mniSvnelovani odenobis saprocento ganakveTis matarebeli aqtivebi da valdebulebebi,

yvela am instruments aqvs fiqsirebuli saprocento ganakveTebi romelic ar aris damokidebuli bazarze

arsebul saprocento ganakveTebis meryeobaze.

sakredito riski aris riski, rodesac erTi mxaris mier finansuri instrumentis valdebulebebis

Seusrulebloba gamoiwvevs meore mxaris mier finansuri danakargebis miRebas. sakredito riski warmoiSoba

fuli da fulis ekvivalentebidan, sesxebidan da moTxonebidan. maqsimaluri sakredito riski kompaniisTvis

saangariSgebo TariRisaTvis iyo:

kompaniis fuladi saxsrebi ganTavsebulia Zalian sando finansur institutebSi da menejmenti

darwmunebulia, rom aranairi sakredito riski maT fulad saxsrebs ar emuqreba.

gacemuli sesxebi aris erTaderTi muxli, romelic warmoSobs sakredito risks kompaniisaTvis. kompania am

risks marTavs sesxis gacemis sanacvlod uzrunvelyofis moTxovniT da sesxi/uzrunvelyofis koeficientis

sakmarisad maRal doneze SenarCunebiT, raTa moxdes yvela SesaZlo danakargebis riskis gadafarva.

kompanias gaaCnia politika da procedurebi riskebis samarTavad, maT Soris sakredito komiteti, romelic

sasesxo aplikaciaSi mocemuli informaciis analizs axdens, rac amasTanave afasebs da amcirebs sakredito

risks. sakredito politikis gadaxedva da damtkiceba xdeba sameTvalyureo sabWos mier.

realuri Rirebulebis gamoTvlis mizania ganisazRvros is Rirebuleba rac, Sefasebis TariRisaTvis, SeiZleba

miRebuli iqnas aqtivis gayidvidan an gadaxdili iqnas valdebulebis dasafarad Cveulebrivi tranzaqciis

pirobebSi bazris monawileTa Soris. miuxedavad am mcdelobisa, rom realurma Rirebulebam asaxos aseTi

Tanxa (rac wina winadadebaSia axsnili), saoperacio garemosaTvis damaxasiaTebeli Cveulebrivi

ganusazRvrelobebis da SefasebebSi SesaZlo subieqturi faqtorebis arsebobis gamo, ar unda vigulisxmoT,

rom realuri Rirebuleba zustad asaxavs im Tanxas rac SeiZleba aqtivis dauyovnebeli gayidvis SemTxvevaSi

iqnas miRebuli an valdebulebis dauyovnebeli dafarvisTis SeiZleba iyos saWiro.

finansuri aqtivebi da valdebulebebi: realuri Rirebulebebi da saaRricxvo klasifikaciebi





SeniSvna 17

17.1 realuri Rirebulebebi da saaRricxvo klasifikaciebi (gagrZeleba)

a)

b)

17.2 realuri Rirebulebis ierarqia

done 1

done 2

done 3

SeniSvna 18 kapitalis adekvaturoba

gverdi 25

Semavali monacemebi garda imisa, rac pirvel doneSia Cawerili da romlebic xelmisawvdomia

rogorc pirdapir (fasebi), aseve iribad (fasebisgan warmoebuli). es kategoria moicavs

instrumentebs, romlebic Sefasebulia Semdegi monacemebis gamoyenebiT: aqtiur bazrebze

kvotirebuli sabazro fasebi msgavsi finansuri instrumentebisTvis; kvotirebuli fasebi msgavsi

instrumentebisTvis, rac ganixileba, rogorc naklebad aqtiuri; an Sefasebis sxva meTodebi, romlis

farglebSi yvela mniSvnelovani Semavali monacemebi xelmisawvdomia pirdapir an iribad sabazro

monacemebidan gamomdinare.

araTvalsaCino resursebi. aRniSnuli kategoria Sedgeba yvela instrumentisgan, romlis farglebSi

Sefasebis meTodika moicavs monacemebs, romlebic ar efuZneba TvalsaCino monacemebs da

xelmisawvdomi Semavali monacemebi mniSvnelovan gavlenas axdenen instrumentis Sefasebaze.

aRniSnuli kategoria moicavs instrumentebs, romelTa Sefaseba xdeba msgavsi instrumentebisTvis

kotirebuli fasebis safuZvelze, romlis farglebSi mniSvnelovani araTvalsaCino koreqtirebebi an

daSvebebia saWiro, raTa aisaxos sxvaobebi instrumentebs Soris.

mikrosafinanso organizaciebs saqarTvelos erovnuli banki usazRvravs kapitalis adekvaturobis moTxovnebs. erovnuli bankis

moTxovnis Tanaxmad mikrosafinanso organizaciisTvis kapitalis minimaluri odenoba unda Seadgendes 250 aTas lars. 2014 wlis

31 dekembris mdgomareobiT Sps mikrosafinanso organizacia intel eqspres jorjias sawesdebo kapitali aris 1,000,000 lari

Sesabamisad, kompania akmayofilebs minimaluri sawesdebo kapitalis moTxovnebs.

analogiuri finansuri instrumentebis kotirebuli (arakoreqtirebuli) fasebi moqmed bazarze.

kompania Semdeg ierarqias iyenebs samarTliani Rirebulebis gansazRvrisaTvis:

18-72%-iani diskontirebis ganakveTi gamoiyeneba klientebze gacemuli sesxebidan misaRebi momavali

fuladi saxsrebis diskontirebisTvis;

4-18%-iani diskontirebis ganakveTi gamoiyeneba miRebul sesxebTan dakavSirebuli momavali fuladi

saxsrebis gadaxdebis diskontirebisTvis.

finansuri aqtivebi da valdebulebebi: realuri Rirebulebebi da saaRricxvo klasifikaciebi (gagrZeleba)

kompania iyenebs Semdeg daSvebebs finansuri instrumentebis realuri Rirebulebis Sefasebisas:





SeniSvna 19 dakavSirebuli mxareebi

aqcionerebi - - - - 1,673,951 1,673,951

umaRlesi xelmZRvanelobis wevrebi 395,971 4,310 16,205 319 - 4,684,388

sxva dakavSirebuli mxareebi 3,837,152 28,652 394,447 7,332 - 4,267,584

sul 4,233,124 32,962 410,652 7,650 1,673,951 10,625,923

aqcionerebi - - -

umaRlesi xelmZRvanelobis wevrebi 20,515 117,878 138,392

sxva dakavSirebuli mxareebi 402,667 58,665 461,332

sul 423,182 176,543 599,724

aqcionerebi - - - 14,250 1,031,377 1,045,627

umaRlesi xelmZRvanelobis wevrebi - - - 100,846 - 100,846

sxva dakavSirebuli mxareebi 5,035,270 21,382 217,410 52,747 - 5,326,809

sul 5,035,270 21,382 217,410 167,842 1,031,377 6,473,281

aqcionerebi - - -

umaRlesi xelmZRvanelobis wevrebi - 123,885 123,885

sxva dakavSirebuli mxareebi 276,196 64,090 340,286

sul 276,196 187,975 464,171

gverdi 26

gacemuli

sesxi

miRebuli

sesxi

gadasaxdeli

procenti

gadaxdili

procenti

gacemuli

sesxi

naSTi dakavSirebul mxareebTan 31-dek-2013sul

sul

gadaxdili

dividendi

tranzaqciebi dakavSirebul mxareebTan 2014 weli saprocento

xarji

xelfasis

xarji

sul

tranzaqciebi dakavSirebul mxareebTan 2013 weli saprocento

xarji

xelfasis

xarji sul

zogadad, mxareebi iTvleba dakavSirebulad, Tu erT mxares aqvs unari, gaakontrolos meore mxare an mniSvnelovani gavlena

moaxdinos meore mxaris finansur da saoperacio gadawyvetilebebze. TiToeuli SesaZlo urTierTkavSiris ganxilvisas,

yuradReba eqceva urTierTobis Sinaarss da ara mxolod samarTlebriv formas.

dakavSirebuli mxareebis tranzaqciebis da naSTebis detalebi saangariSgebo periodisaTvis mocemulia qvemoT:

naSTi dakavSirebul mxareebTan 31-dek-2014 gadaxdili

procenti

gadaxdili

dividendi

miRebuli

sesxi

gadasaxdeli

procenti





SeniSvna 20 pirobiTi valdebulebebi

20.1

SeniSvna 21 sawarmos uwyvetobis ganxilva

SeniSvna 22 saangariSgebo periodis Semdgomi movlenebi

*****

gverdi 27

biznesis Cveulebrivi funqcionirebis pirobebSi kompania CarTulia sasamarTlo davebSi im klientebTan,

romlebmac daarRvies sasesxo xelSekrulebis pirobebi. finansuri angariSgebis TariRisaTvis aqtiuria

mxolod 1 sasamarTlo dava, romelic exeba gakotrebuli agentebisgan kompaniisadmi moTxovnis dafarvas.

menejmenti miiCnevs, rom am sasamarTlo davis Sedegebi angariSgebis TariRisaTvis ar moaxdens arsebiT

gavlenas kompaniis finansuri mdgomareobis angariSgebaze.

yoveli saangariSgebo periodis bolos menejmenti ganixilavs sawarmos uwyvetobasTan dakavSirebul sakiTxebs, raTa darwmundes,

rom finansuri angariSgebis wardgena sawarmos uwyvetobis principis safuZvelze samarTliania. menejmenti miiCnevs da

darwmunebulia, rom kompaniis uwyvet funqcionirebas safrTxe ar emuqreba da arc TviTon aqvs kompaniis likvidaciis an

saqmianobis mniSvnelovani SezRudvis gegmebi.

balansis TariRis Semdgom adgili ar hqonia iseT movlenebs, romlebic gamoiwvevda damatebiT Sesworebebs da cvlilebebs

mocemul finansur angariSgebaSi.

sasamarTlo davebi

kompanias saqarTvelos masStabiT sagadamxdelo sistemis ganviTarebisaTvis ganxorcielebuli aqvs investicia mekavSire

sawarmoSi Sps intelnetSi, finansuri angariSgebis gamoqveynebis momentisaTvis intelnetma SeaCera qselis ganviTareba da misi

ZiriTadi saqmianoba gagrZelebul iqna kompaniis meir.

2015 wels saberZneTSi mimdinare savalo krizisis gamo e.w evropulma troikam (EC, ECB, IMF) droebiT uari Tqva qveynis

likvidurobis gaumjobesebis paketze, ris Sedegadac saberZneTis mTavrobas mouwia qveynidan fulad gadaricxvebze mkacri

kontrolis daweseba. dRevandeli dRis mdgomareobiT saberZneTidan maqsimaluri fuladi gzavnili erT adamianze Tvis

ganmavlobaSi Seadgens 500 evros; (2013: 12,500 evros).

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