News

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

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...Read More

October 15, 2019, Tbilisi – Financial inclusion organization Crystal, Habitat for Humanity International – the sponsor of the MicroBuild Fund  and Triple Jump, MicroBuild Fund’s Manager together hosted the fund’s governing board and the investment committee. Meeting purpose was to personally meet with client, to assess funding impact, consequences and evaluate the value financing has...Read More

October 21, 2019, Tbilisi – Crystal Blitz Chess Game “All Women Are Champions!” was held in partnership with Georgia Chess Federation, which was dedicated to Crystal Fund and JSC MFO Crystal’s women economic empowerment initiatives. This is part of a larger campaign, aimed at empowering entrepreneurial potential among Georgian women. Participants of the event had opportunity...Read More

On September 25th, in New York City the United Nations Global Compact (UNGC) announced ten SDG Pioneers and greeted the local SDG Pioneers from around the world – young business leaders who are doing an exceptional job to advance the Sustainable Development Goals (SDGs) locally. For the first time Georgia was presented in the competition by...Read More

Istanbul, June 17, 2019 – JSC MFO Crystal and Black Sea Trade and Development Bank signed senior loan agreement of GEL 15,000,000. The facility intends working capital financing for industrial, agricultural and manufacturing enterprises for Georgia based entrepreneurs. This is the first step forward starting collaboration with BSTDB a prominent and distinctive partner, which has contributed...Read More

Milan, May 15th , 2019: After a thorough review of Crystal’s documents as well as after a week-long visit to Crystal’s Headquarters and Branches in Georgia, Global Rating Agency MFR (MicroFinanza Rating) and its Social Rating Committee – based on the Social Rating scale adopted by MicroFinanza Rating – has assigned to the Financial Inclusion Organization Crystal the Grade: sA- (While AA being...Read More