News

Crystal is the winner of the “Business for Gender Equality 2020” competition

On March 25, Crystal was announced the winner of “Business for Gender Equality 2020” competition, hosted by the Millennium Foundation in partnership with the UN Women and the Business Leaders Federation Women for the Future. The event served to honor Georgia-based companies, doing exceptional job to promote gender equality and empower female employees and clients.For...
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Fitch Updates Crystal Rating Watch

On February 19, Fitch reviewed Crystal’s rating and placed Rating Watch Negative on Refinancing Risk. Crystal, consistent with its transparency culture, continues a partnership with the credit rating agency despite of worsened macroeconomic environment and elevated risks in the financial sector. The latest report singles out refinancing as an open risk, but more importantly it...
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United States and Sweden Partner with MFO Crystal with $15 Million Loan Guarantee Program

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...
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Crystal Confirms $8 Million Facility with INCOFIN IM advised IIV Mikrofinanzfonds

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...
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Announcement on planned acquisition of Finca Bank Georgia

May 6, Tbilisi – After thorough consideration, the parties decided not to proceed with the ongoing negotiation. Both institutions independently continue their normal operations.
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Crystal Partnership with BlueOrchard Finance Strengthened by $5 Million Loan Injection

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...
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Announcement on Acquisition

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...
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Fitch Ratings Publishes MFO Crystal Rating Navigator

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...
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EIB Boosts Its Support to Crystal Through EUR 4.1 Million Facility

Tbilisi/Luxembourg, 30 October 2019 – EU4Business: EIB and JSC MFO Crystal support microenterprises in Georgia through a new financing operation EIB loan is expected to improve access to finance for around 10,000 micro-entrepreneurs, women, young and disadvantaged people living in rural areas will benefit most second EIB Group microfinance operation in Georgia. The European Investment...
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