News

Microfinance Center (MFC) has organized 24th Annual Conference in Istanbul, Turkey. Purpose of the conference was to explore recent investment landscapes and opportunities, to outline tendencies in green finance, gender, technological challenges and financial inclusion of migrants and refugees. Crystal’s delegation was represented by the Chairman of the Supervisory Board of Crystal Archil Bakuradze, Chief...Read More

Tbilisi – 5 July 2022: Fitch Ratings affirmed Long-Term Issuer Default Rating (IDR) at ‘B-‘ Outlook Stable. Despite of the recent regional shakeouts Crystal has maintained promising financial and operation profile, translated in Stable credit rating Outlook. Funding profile, asset quality and capital position are key indicators that were managed properly. Crystal’s progress towards improving...Read More

Tbilisi / Luxembourg: Financial Inclusion Organization Crystal has confirmed that it has entered into a GEL 20 million senior loan transaction with its long-standing partner, DWM (Developing World Markets). This new credit facility supports Crystal’s mission in supporting micro, small and medium-size enterprises throughout Georgia. Crystal and DWM have built a fruitful partnership in support...Read More

The Financial Inclusion Organization Crystal continues its banking transformation program and recently signed a technical assistance agreement in the amount of EUR 200 000 with its long-standing partner FMO, the Dutch entrepreneurial development bank. The two-years assistance program will contribute to the banking transformation objective.  Crystal launched transformation project in the second half of 2021....Read More

Financial Inclusion Organization Crystal and German Sparkassenstiftung (DSIK) have signed the Memorandum of Cooperation. The memorandum has been implemented within the framework of the project “Increasing access to Finance for Sustainable Development of the Small and Micro Entrepreneurs in the Southern Caucasus and Ukraine”. The program aims providing sustainable and responsible financial services to the...Read More

Financial Inclusion Organization Crystal continues supporting the Ukrainian people. Under cooperation with the Red Cross Society of Georgia Crystal has allocated GEL 10,000. Local representation of the Red Cross is actively engaged with communication Ukrainian Society, which has become the channel for delivering humanitarian aid from Georgia. Crystal has already allocated GEL 100,000 for humanitarian...Read More

Another plane flew from Georgia to Ukraine with humanitarian aid. Part of the shipping costs were financed by Crystal in cooperation with the Embassy of Ukraine in Georgia, the company transferred GEL 50,000 to send aid. A total of 40 tons of humanitarian aid – medicines, medical equipment, hygiene items, products, clothes and other necessary...Read More

Tbilisi/ Netherlands: Financial Inclusion Organization Crystal signed agreement on USD 5 million senior loan with Triodos Microfinance Fund and Triodos Fair Share Fund, financial inclusion funds managed by Triodos Investment Management. This facility intends to support Georgia’s micro and small entrepreneurs, to improve provision of innovative financial services by Crystal and to expand credit portfolio....Read More

Organisation JSC MFO Crystal (‘Crystal’) is the leading financial inclusion organisation and the largest non-banking financial institution in Georgia. It manages the loan portfolio of GEL 360 million, employing more than 1,000 members of staff, operating through 48 branches and serving more than 120,000 unique customers across Georgia.  Crystal acts as a platform for economic...Read More