Crystal’s Chief Executive Officer, Ilia Revia, attended an event organized by the Asian Development Bank in Luxembourg. The event was dedicated to the topic of sustainable financial sector, while also covering cooperation between the Asian Development Bank and its European partners. During the meetings and panel discussions spanning over the course of 2 days, representatives...Read More

The reputable international credit rating agency Fitch Ratings has improved the Long-term Issuer Default Rating (IDR) of the financial inclusion organization Crystal, to ‘B’ Stable upgrading from ‘B-‘ Positive outlook. Fitch has outlined multiple factors driving the rating upwards, including strengthened profitability, improved net interest margin, good cost control and asset quality, strong franchise and...Read More

In partnership with the Georgian USB cable manufacturer TENE, Crystal will collect plastic waste for recycling. Special green boxes have already been installed in the company’s premises, where used plastic, batteries, and other recyclable waste can be collected. The materials will be recycled by TENE for the production of USB cables. Being environmentally friendly, addressing...Read More

The financial inclusion organization Crystal and International Finance Corporation (IFC) join forces to support business activities of Forcibly Displaced Persons (FDPs) from Ukraine currently residing in Georgia on permanent or temporary basis. As part of the cooperation, the Ukrainian refugees will gain access to financial products and services tailored to their specific needs, as well...Read More

Tbilisi/Luxembourg, March 29: Financial Inclusion Organization Crystal has signed a $2 million subordinated debt agreement with BlueOrchard Impact Credit Fund. The facility will strengthen capital position of the company and will be applied towards growth, improving financial resilience and outreach to the underserved micro and small businesses. The sub-debt transaction, alongside with $4 million senior...Read More