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President’s Report
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This Report covers the last three (3) years of KCCDMFI, from FY
2016 to 2018.
With this fresh mandate from the law, and pressure from our
creditors, the board of trustees took over command of KCCDFI.
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Where other MFIs dare not go, KCCDFI goes
In March 2016, the KCCDFI board of Trustees accepted the
resignation of Rodolfo Quinday as President and appointed Ibarra A.
Malonzo to replace him.
--1. retrenched all sixty-nine (69) head office personnel and rehired
thirty-four (34) with lower rates;
--2. put in place the CASA for strict cost control measures;
--We stuck to our old small business loan product, while competitors
offered new loan products.
--We stuck to manual recording of field transactions and it took
months for management to discover fraud by our field staff.
--We stopped training and retraining our staff, probably for fear that
their knowledge and skills will exceed management.
For the past three years, we focused on four (4) urgent things:
Let me now report on 2018. I am happy to tell you that 2018 is a year
of recovery for KCCDMFI.