JSC MFO Crystal (‘Crystal’) is the leading financial inclusion organization and the largest non-banking financial institution in Georgia. The MFI started its activity in 1995 as an NGO founded by internally displaced persons from Abkhazia (occupied by Russia) and has ultimately transformed into JSC Crystal in 2007. Over this period, JSC MFO Crystal has grown from a small business project within a not-for-profit organization founded by a group of internally displaced persons (IDPs) to the largest microfinance institution in Georgia. Staying firm to its mission to provide sustainable financial services to low and middle income rural clients and the micro and small business Segment, Crystal acts as a platform for economic development for micro and small entrepreneurs as well as farmers providing them with innovative financial products and value-added services.
Currently, Crystal manages the loan portfolio of GEL 400 million, employing more than 1,000 members of staff, operating through 50 branches and serving more than 118,000 unique customers across Georgia, out of which 59% are female borrowers while 54% of overall beneficiaries are located in rural regions of Georgia.
Crystal has diversified loan product range, well adapted to the client’s needs. In addition to business and agricultural loans, institution offers home improvement, micro mortgage, pawnshop and consumer loans. With a long track record of a successful housing lending institution has Housing Microfinance loan portfolio of more than GEL 60M serving more than 9,300 outstanding borrowers.