Japanese Gojo & Company Acquires 16.8% Stake in Georgia’s Credo Bank

Japanese social impact holding company Gojo & Company, Inc. has made its first investment in Georgia, acquiring a 16.8% stake in Credo Bank, the country’s fifth-largest commercial bank. The announcement was made by Credo Bank, which highlighted the significance of this partnership in fostering financial inclusion.

Credo Bank holds assets valued at GEL 2.87 billion, with a total loan portfolio of GEL 2.4 billion. The bank’s existing shareholders include leading European financial institutions: Germany's Access Credo GmbH, investment funds managed by the Netherlands-based Triodos Investment Management BV, and France's Proparco (Groupe Agence Française de Développement), a development finance institution.

Gojo & Company, Inc., headquartered in Tokyo, is a holding company specializing in inclusive financial services. Since its founding in 2014, Gojo has expanded its operations to 13 countries across Asia and Africa, with the goal of advancing financial inclusion globally. As of March 2024, Gojo Group serves over 2.4 million customers and employs more than 10,000 people worldwide.

Credo Bank, established as Georgia’s fifth-largest banking institution, serves more than 480,000 customers nationwide through 94 service centers. Its mission is to empower Georgian entrepreneurs and their employees by providing accessible financial services.

This new investment by Gojo & Company is expected to strengthen Credo Bank’s ability to support local businesses and drive economic growth, aligning with both organizations’ commitment to fostering financial inclusion.