National Bank of Georgia (NBG) issued a banking license to JSC Credo Bank, which has been operating on the Georgian market since 2007 as a microfinance organization (the former JSC Microfinance Organization Credo).
Starting 2014 Credo is owned by an international consortium of investors that implements microfinance and other financial services on international level and is represented in Europe, Asia, South America and Africa.
JSC Credo Bank owns 62 branches in Tbilisi and 10 in Georgia’s regions . The company’s key objective is to ensure sustainable financial services to micro, small and medium businesses and to develop small and micro businesses in Georgia.
Supervisory capital of JSC Credo Bank is GEL 120 million and it ranks 10th in terms of assets.
Currently, 17 commercial banks are registered on the Georgian banking sector.