JSC CREDO BANK
Status: Proposed investmentWhy disclosure?
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In case of questions
We welcome feedback on this proposed investment opportunity for FMO. The ending of the proposed investment phase is indicated on the right side of this page. 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 prospective customer?
JSC Credo Bank (hereafter: the Bank) is the fifth-largest commercial bank in Georgia, which has been operating under a banking license since March 2017. With its wide regional outreach through 90 branches, it offers fully-fledged and innovative banking services to over 370,000 customers and has a loan portfolio of around USD 900 million in 2024. The Bank’s mission is to support Georgia’s entrepreneurs, their employees, and families to create a better future by offering affordable financial services.
What is our funding objective?
The Bank seeks long-term funding in Georgian Lari (GEL) to support its continued growth and align with the National Bank of Georgia's de-dollarization strategy. Local currency funding from FMO will enhance Credo Bank’s ability to expand its loan portfolio in micro-, small-, and medium-sized enterprises (MSMEs) and reduce currency risk for its clients.
Why do we want to fund this investment?
There is a growing need for long-term financing in local currency to support sustainable economic development in Georgia. Through this facility, FMO will support the Bank in further strengthening its outreach to rural, agricultural, women-led, and youth-owned (M)SMEs. The proposed investment is labeled 100% RI.
What is the Environmental and Social categorization rationale?
The project has been categorized as E&S category C under FMO’s Sustainability Policy. The project’s activities are deemed to have minimal or no adverse environmental and social (E&S) risks and/or impacts. As part of the project, JSC Credo Bank will be required to apply the EDFI Exclusion List and Georgia’s E&S laws and regulations.
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 |
| 1/14/2020 | EUR 0.07 MLN |
| 5/1/2023 | USD 20.00 MLN |
| 6/26/2018 | USD 10.00 MLN |
- Website customer/investment
- https://credobank.ge/en
- Region
- Europe & Central Asia
- Country
- Georgia
- Sector
- Financial Institutions
- Publication date
- 5/6/2025
- Deadline for feedback
- 6/5/2025
- Total FMO financing
- GEL 80.00 MLN
- Funding
- FMO NV
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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