Financial Inclusion Organization “Crystal” ranked up in its social rating, having earned “A” from the international rating agency Microfinanza. With this result, the company further improved its 2019 rating of “A-“. Improvement in 2020 Social Rating demonstrates the company’s high responsibility, which became even more apparent during the Covid-19 pandemics. It is noteworthy that several...Read More

Tbilisi/Washington/Stockholm, 13 November 2020 – United States and Swedish Governments Partner with MFO Crystal to Support Economic Recovery from COVID-19 Through Loan Guarantee Program. On September 28, the Development Finance Corporation (DFC), the Swedish International Development Cooperation Agency (Sida), the United States Agency for International Development (USAID), and JSC MFO Crystal (Crystal) jointly announced a...Read More

Tbilisi/Antwerp/Frankfurt: Crystal confirmed $8 million senior loan facility from Incofin IM advised IIV Mikrofinanzfonds to support its provision of innovative financial services to micro entrepreneurs and farmers across Georgia. This new loan injection provided crucial reinforcement of Crystal’s liquidity position at a time of increasing market uncertainty in the immediate pre-crisis period. The proceeds of this...Read More

Tbilisi/Antwerp/Frankfurt: Crystal confirmed $8 million senior loan facility from Incofin IM advised IIV Mikrofinanzfonds to support its provision of innovative financial services to micro entrepreneurs and farmers across Georgia. This new loan injection provided crucial reinforcement of Crystal’s liquidity position at a time of increasing market uncertainty in the immediate pre-crisis period. The proceeds of this...Read More

May 6, Tbilisi – After thorough consideration, the parties decided not to proceed with the ongoing negotiation. Both institutions independently continue their normal operations.Read More

Tbilisi/Zurich: Financial Inclusion Organisation Crystal has strengthened their longstanding partnership with Swiss Impact Investment Managers BlueOrchard with a new $5 million investment to support Crystal’s innovative financial services for micro entrepreneurs and farmers throughout Georgia. The new loan injection is demonstrative of the continued solid and impactful partnership between the two financial institutions at a...Read More

Crystal has reached a preliminary agreement with FINCA Impact Finance to acquire FINCA Bank Georgia. Prerequisites for the decision have been similarity of organizational cultures, customer-centric approach and Crystal’s plan to retain staff and further strengthen the bank. Crystal’s strategy is backed by its US and European institutional investors. While the transaction negotiation process is...Read More

Tbilisi – 19 December 2019: Fitch Ratings published a Rating Navigator supporting the earlier affirmation of the Long-Term Issuer Default Ratings (IDRs) of JSC MFO Crystal (‘Crystal’) at ‘B’ Outlook Stable. The rating is a reflection of company profile, asset quality, profitability, other assessment factors and recognitions. Since 2017 company credit rating was reassessed 3...Read More