2019 Vitas Social Performance Report
Vitas Group, created by Global Communities is a for-profit holding company that operates a network of microfinance companies, predominantly in the Middle East. They are a unique group of companies with more than twenty years of proven track record of successfully lending to micro, small, and medium enterprises and the only such investment vehicle for impact investors in the region. Since 2004, Vitas companies have disbursed more than $3 billion to over 1 million customers with an annual default rate below two percent.
Every two years, Vitas Group surveys clients in its affiliated institutions to assess customer satisfaction, the impact of loans on businesses and job creation, and how housing loans affected borrowers’ quality of life. This report pays more attention to customer satisfaction, and includes net promotor scores across the Group as a sophisticated proxy for overall customer satisfaction. The report summarizes the results of the fourth bi-annual survey of network institutions, covering the period of FY2019. Surveys were conducted across five institutions in the Global Communities and Vitas network in Iraq, Jordan, Lebanon, Palestine and Romania, with a combined outstanding portfolio of $262,101,101 and 100,717 active clients as of September 30, 2019.
Social PerformanceManagement (SPM) is the process of managing an organization to achieve its social mission. Its implementation puts clients at the center of all strategic and operational decisions. The importance of balancing financial and social performance allows institutions to pursue financial goals while benefiting clients. As a member of the Social Performance Task Force, Vitas Group has endorsed and implemented the Universal Standards for Social Performance.
Published 02/22/2020 by Bonnie Maratea