JSC CREDO BANK
Status: Completed investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
JSC Credo Microfinance Bank (Credo) is a Georgian financial institution that received a banking license in 2017 Credo’s mission is to provide sustainable financial services to low-income Georgian entrepreneurs. It offers specialized products serving the needs of Georgian micro businesses, most of them active in agriculture and rural areas. Credo has a wide regional outreach via more than 60 branches.
What is our funding objective?
FMO aims to support Credo by developing its retail operations, which is part of Credo’s transformation process into a fully-fledged bank. Besides this, FMO intends to support Credo in strengthening its risk management and compliance to international banking standards.
Why do we fund this investment?
Through this project, FMO supports Credo in the final stages of the intensive process of becoming a fully-fledged bank and by doing so, it contributes to improving access to finance for Georgian micro businesses and SMEs, especially in rural areas.
More investments
| Date | Total FMO financing |
|---|---|
| 6/12/2024 | USD 37.00 MLN |
| 6/16/2022 | GEL 100.00 MLN |
| 4/7/2020 | USD 10.00 MLN |
| 3/12/2024 | GEL 26.00 MLN |
| 5/1/2023 | USD 20.00 MLN |
| 6/26/2018 | USD 10.00 MLN |
- Website customer/investment
- https://credo.ge/en/
- Region
- Europe & Central Asia
- Country
- Georgia
- Sector
- Financial Institutions
- Effective date
- 5/1/2018
- End date
- 1/14/2020
- Total FMO financing
- EUR 0.07 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C