News

Crystal Signs USD 15 Million Senior Loan Agreement with FMO

Financial Inclusion Organization Crystal has announced a new USD 15 million credit facility deal (out of which USD 10 million committed and USD 5 million uncommitted) with FMO, the Dutch Entrepreneurial Development Bank. This latest agreement strengthens the continuous partnership between both parties, following the first collaboration in 2017. FMO’s investment reflects its focus on...
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Crystal Secures USD 10 Million Senior Loan Facility from responsAbility

Financial inclusion organization Crystal has signed a USD 10 million senior loan agreement with several funds managed by its longstanding partner, the leading Swiss impact asset manager, responsAbility Investment AG (responsAbility). This facility aims to support the company’s portfolio growth in the agriculture and MSME sectors amid banking transformation, underscoring the fund’s support to achieve...
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Crystal Presented Gender Bonds at the ADB Organized Event

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...
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Fitch Upgrades MFO Crystal to ‘B’, Outlook Stable

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...
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Crystal Partners With TENE for Eco-Friendly Campaign

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...
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Crystal and IFC Join Forces to support Ukrainian Forcibly Displaced Persons

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...
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Crystal Receives $2 Million Subordinated Loan from BlueOrchard Impact Credit Fund

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...
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Crystal Submits an Application for a Micro Bank License

The financial inclusion organization “Crystal” has officially applied for a micro bank license to the National Bank of Georgia. The submission of the license was preceded by hard and intensive work, aimed at aligning the company’s procedures, information technologies, internal organizational and business processes with the relevant legislation, regulations and the specifics of the banking...
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Crystal is the Winner of BARTA 2023

The financial inclusion organization “Crystal” was announced as a winner of BARTA 2023 – the Best Annual Report and Transparency competition for the fifth time in a row, in the category of a large financial company. Being held in Georgia since 2019, the interest towards the Best Annual Report and Transparency Award (BARTA) keeps steadily...
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