World Bank

“World Bank contracted Business & Finance Consulting to carry out a gap analysis in Bangladesh and Pakistan in 2006. The main objective was to identify potential for increasing the access to finance of SMEs in local banks. We have been extremely satisfied with BFC’s work as their team is very competent, BFC combines serious hands-on project experience (i.e. they actually have helped banks/MFIs increase their outreach with tangible results), rigorous analytical skills and a very refreshing openness to trying new approaches, while not compromising on the key tenets of small business lending. It is the latter, I believe, that makes BFC so client oriented.

In conclusion, it has been a real pleasure to work with BFC and I would recommend them wholeheartedly.”

Aurora Ferrari
Private and Financial Sector
Eastern Europe and Central Asia
The World Bank

KfW Entwicklungsbank

“A very satisfactorily and well structured final report. Mr. Kortenbusch and his colleagues have produced high quality and professional work on time. After the assignment, BFC has always been responsive to follow up questions.”

Stefan W. Hirche
Project Manager, Sector and Policy
KfW Entwicklungsbank

Asian Development Bank (ADB)

“BFC’s contribution to the success of TFP*, which has grown exponentially and won two industry awards in 2010, including “Best Development Bank in Trade”, has been important. We have found BFC professional, reliable, and flexible when required and the quality of their work has been good.”

Steven Beck
Head of Trade Finance
Asian Development Bank (ADB)

Oesterreichische Entwicklungsbank (OeEB)

“OeEB has been very pleased with BFC’s performance on this project. Their research team led by Peter Hauser presented a thoroughly researched and comprehensive final report in time with clear conclusions and reasonable recommendations which have helped us to define OeEB’s future strategy for the Caucasus. We look forward to continue working with BFC again in the future.”

Susanne Wegl
Manager Advisory Programmes
Oesterreichische Entwicklungsbank

Banca Intesa a.d.

“BFC’s APS, with its variety of built-in and customized reports, provides us effective control over sales force results and efficiency, operational activities, and decision-making statistics. Moreover, we are now in a position to collect and store all financial and non-financial data for a challenging client group. A huge and valuable database was already collected within one year of using BFC’s APS.”

Maja Andonov
Head of Small Business Client Department
Banca Intesa a.d. Beograd (Serbia)

“With BFC’s APS we have optimized our decision-making process, reshaping it and easily moving from a fully centralized model to semi-centralized. After implementing BFC’s APS within our standard decision-making process, we managed to reduce processing time by 30%. With partial decentralization of the process through BFC’s APS we expect to reduce it by 50%.”

Djordje Radulović
Head of Agriculture Sales Management Office
Banca Intesa a.d. Beograd (Serbia)

Inecobank CJSC

“The quality of the training provided by BFC was more than satisfactory. Coaches were well qualified and the material was up-to-date. The professionalism, creativity, and overall attitude of coaches were very much appreciated. Our staff members who received the training expressed positive opinions concerning the matter. The training has further enhanced our employees’ professionalism and skills. We confidently recommend BFC as a reliable partner and expert in their field.”

Alik Stepanyan
Head of Retail and Micro Business Support and Analysis Team
Inecobank CJSC, Armenia

Bank Constanta

“BFC has consistently delivered sophisticated, innovative consulting services for Bank Constanta since the beginning of our cooperation in 2007. In particular, BFC’s assistance in developing and implementing a statistical credit scoring system has provided Bank Constanta with a powerful tool for controlling risk and improving operational efficiency. In addition to being professional, highly qualified, and dedicated to their work, BFC’s consultants demonstrate an exceptional knowledge of the local market and the needs of our clients.”

Giorgi Gachava
Deputy General Director (Operations Director)
Bank Constanta, Georgia


“The Program has been very productive. Throughout the entire period, every individual has been able to fully participate in the process. Working collaboratively as a team to prepare the strategy plan is sure to increase its effectiveness during implementation.The workshops that have been held have been very professional. All sessions have included practical elements, which has helped to motivate and keep the topics interesting. Furthermore, working actively in groups has really helped to practice implementing the theoretical knowledge gained. The Program has also been a brilliant opportunity to become acquainted with JSC MFO Crystal, sharing information and experiences with each other. Such exchanges provide an excellent way of ensuring that all personnel become fully involved in an organisation’s future—understanding today’s operations in order to develop them for future growth. In particular, Crystal’s experience of and approach towards risk management has been of particular interest and help to FinDev.”

Jalal Aliyev
FinDev Chief Executive Officer
FinDev, Azerbaijan

JSC MFO Crystal

“The Program conducted by BFC, was an excellent example of how theoretical knowledge and practical experience can be combined effectively to achieve impressive outcomes. Crystal greatly benefited from both sharing experiences with the other MFI as well as from intensive involvement of our management team in the Program. As a result, we now have a professional, high quality strategy document alongside a relevant action plan for the next five years. It was a great pleasure for us to work closely with the BFCteam and we highly appreciate their support and cooperation during the Program.”

Malkhaz Dzadzua
Crystal Chief Executive Officer
JSC MFO Crystal, Georgia