Crystal marks one year since obtaining its microbank license. Transitioning to the higher league of Georgia’s financial market has proven to be not only a milestone achievement for the company, but also a year defined by significant progress, innovation, and success.
Notably, Crystal began operating under its new status and launched full-scale banking services in a record timeframe, just four months after receiving the license. This exceptionally rapid transformation underscores the company’s strong institutional capacity and strategic focus.
The launch of banking products was preceded by a complex and comprehensive system transformation. During this period, 95 projects of varying scale and complexity were managed simultaneously. The transformation included the implementation of advanced technological solutions and innovations, as well as extensive work in risk management and regulatory compliance. These efforts ensured the efficient functioning of banking transactions, strengthened customer protection, and secured alignment with both international and local standards.
“This year has been transformative and truly unprecedented for our organization. The successful implementation of this large-scale system transformation was driven by the dedication, professionalism, and strong sense of responsibility demonstrated by our management team. Their efforts ensured the successful completion of the licensing process, institutional transformation, and the launch of banking services. Equally important was the support of our Supervisory Board members, international financial institutions, and investors, as well as the positive and supportive role of the National Bank of Georgia as a strong and responsible regulator of the financial sector. Together, these factors served as a powerful source of motivation and enabled our success,” stated Ilia Revia, General Director of Crystal.
During the first year as a microbank, Crystal continued to strengthen its cooperation with global financial institutions and successfully attracted new investments. Partnerships with reputable international and local organizations expanded further, reinforcing the company’s growth trajectory and contributing to the development of Georgian businesses. The number of Crystal’s partners now exceeds 20. In total, in 2025 the company attracted GEL 230 million in funding from local and international financial institutions.
The microbank also strengthened its position in international credit ratings. In 2025, the reputable international rating agency SCOPE Ratings assigned Crystal a credit rating of ‘B+/Stable’. The rating reflects the company’s sustainable profitability, successful transformation, strong asset quality, and stable liquidity, underpinned by a clear strategic direction, strong management, and the support of leading institutional shareholders.
Entering its second year of operations as a microbank, Crystal moves forward with ambitious plans. The company will continue strengthening its presence in the banking sector, maintaining stable operations and sustainable growth. Preparations are underway for the launch of new banking products and further technological innovations. This year’s strategic focus will center on technological advancement, the development of digital service channels, particularly mobile banking, innovation, and the diversification of customer-centric products.