News

International credit rating agency Fitch Ratings has reaffirmed the Long-Term Issuer Default Rating (IDR) of Georgia-based microbank Crystal at ‘B’, maintaining a stable outlook. Rating affirmation this year reflects the company’s continued progress, financial resilience, and consistent execution of its strategy. “Retaining our credit rating amid global and regional challenges is a strong validation of...Read More

Crystal is pleased to announce the successful acquisition of a USD 4 million subordinated loan from Triple Jump, a valued long-standing partner, following the company’s recent designation as a microbank by the National Bank of Georgia on February 12, 2025. This transition to microbank status marks a significant milestone for Crystal as it continues to...Read More

Tbilisi, Georgia — June 16, 2025 — Crystal is proud to announce the commencement of its expanded banking operations following the successful acquisition of a microbank license from the National Bank of Georgia. This milestone marks a significant step forward in the company’s development, opening new opportunities for its clients and contributing to the evolution...Read More

Microbank Crystal has signed a USD 5 million senior loan agreement with responsAbility Investment AG, a Swiss impact asset manager. responsAbility is our long-standing partner, having successfully executed multiple transactions across the years. The loan will help Crystal continue fostering innovation and supporting local businesses as it transitions into a microbank, enhancing its banking capabilities...Read More

Microbank Crystal has been honored with the prestigious award in the Large Financial Company category at the BARTA 2024 competition for excellence in annual reporting and transparency. Notably, this marks the sixth consecutive year that Crystal has participated in the competition and secured this distinguished recognition. This recognition underscores the company’s continuous growth and reaffirms...Read More

A remarkable event celebrating a longstanding partnership between Georgia’s leading non-banking financial institution and the FMO, the Dutch entrepreneurial development bank was held in Georgia. The event was attended by Maurice Paulussen, Deputy Head of Mission, Embassy of the Kingdom of the Netherlands in Georgia, representatives of regulatory authorities, diplomatic corps, investors, partners and donor...Read More

Crystal has signed a USD 5 million senior loan agreement with the Kiva Refugee Investment Fund and the Small Business Resilience Fund, both managed by Kiva Capital. The facility intends to support Crystal’s MSME clients and to enhance the provision of financial services during Crystal’s ongoing banking transformation process. A portion of the loan is...Read More

In 2024, the financial inclusion organization Crystal raised financial resources worth $ 90 million from local and international financial institutions, thereby exceeding the same figure for 2023 by $ 12 million. Among the international partners, in 2024, Crystal raised funding from the reputable and large financial institutions such as BlueOrchard Finance Ltd, responsAbility Investment AG,...Read More

“Crystal” will continue to operate in the Georgian financial market as a microbank, having already obtained a relevant license from the National Bank of Georgia. Receipt of a microbank license rightly confirms Crystal’s position as a strong, responsible, stable, transparent and reliable financial institution not only in Georgia, but also in the entire region. With...Read More