The report summarizes the status and key results of UCORA's membership in terms of its social performance, reaching targeted clientele, scope of products and client loyalty aspects, as well as a snapshot of compliance with client protection principles and responsible finance. The report does not claim to be a result of academic research. It is a first attempt in Armenia, and there are still a very few similar reports produced by microfinance networks in Europe and Central Asia, as well as globally. The scope of this report is based on specifics of social intentions of Armenian organizations, which drove its content. Many quantitative results are also presented, despite difficulties of data collection, comparability and consolidation.
Unlike the financial performance, where results are usually tracked with use of commonly accepted indicators and commonly understood ratios, the social performance indicators and standards are still new and not widely implemented. In addition, social results of various institutions are not comparable as are the financial results. The UCORA overcome these challenges by pre-designing a specific reporting format with indicators which could have been uniformly extracted from the databases of member organizations. Members submitted their statistical data, which then was consolidated and analysed. There are also qualitative findings in this report, based on information from open sources, web-sites, MIX Market, as well as institutional self-assessments and other reports.