London-based International Finance Magazine has conferred the "Best Microfinance Company Azerbaijan 2013" award to VisionFund AzerCredit for achieving excellence in its services and demonstrating exemplary corporate social responsibility apart from high financial performance.

IFM gave the award after a rigorous evaluation of 500 nominations by an internal research team and an external research agency. The International Finance Magazine has a readership across more than 200 countries across the world with more than 1 million average annual visitors.

VF AzerCredit's CEO Ljiljana Spasojevic said in statement: "We have always strived to create more and more opportunities for our customers whose needs are being continuously learned and incorporated into business processes. Constant product refinements and developments by VF AzerCredit contribute to the improvement of the welfare of micro entrepreneurs and self-employed people in Azerbaijan and have brought innovations to the microfinance sector in the country. And we are very excited to know that these achievements of ours have also been recognized with the Best Microfinance Company Azerbaijan 2013 Award by International Financial Magazine, UK."

VF AzerCredit was initially created in 1996 as a program of World Vision, a worldwide relief and development organization, to provide credit to ensure people can take control over their own lives and livelihoods. In 2002 VF AzerCredit was successfully registered as a Limited Liability Company and in 2003 obtained a license from the Central Bank to operate as an NBCO. In 2012 the shareholding structure changed with VisionFund International selling off 24 percent of the equity to Incofin and another 24 percent to Triple Jump while retaining the balance 52 percent. This was done to broaden and strengthen the shareholder base to open up new development opportunities.

ANN.Az