Microfinance Company Become A Bank

Microfinance Company Become A Bank May 26, 2018Leave a comment

National Bank of Georgia (NBG) issued a banking license to JSC Credo Bank, which was operating on Georgian market since 2007 to be a microfinance organization (ad units JSC Microfinance Organization Credo).

Starting 2014 Credo is a member of a universal consortium of investors that implements microfinance and also other financial services on international level which is represented in Europe, Asia, The philipines and Africa.

JSC Credo Bank owns 62 branches in Tbilisi and 10 aspects of Georgia. Key objective within the clients are to be certain sustainable financial services of micro, small and medium businesses and develop tiny and micro businesses in Georgia.

Supervisory capital of JSC Credo Bank is 120 million GEL but it ranks 10th in terms of assets.

Currently, Georgian bank sector registers 17 commercial banks.

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