National Bank Of Georgia Issues Microbank License To Jsc "Crystal"

The National Bank of Georgia has issued a microbank license to JSC "Crystal" in accordance with the regulation governing microbanks.

Previously one of Georgia’s leading microfinance institutions, JSC "Crystal" specialized in financing small entrepreneurs. With its new microbank license, the company will be able to expand its range of services, further strengthening its support for small businesses and introducing new financial products to the market.

Additionally, its inclusion in the real-time gross settlement (RTGS) system will enhance its competitiveness, positioning it as a stronger player in the financial sector. The emergence of microbanks is expected to elevate competition in Georgia’s financial sector, fostering a more dynamic and diversified banking environment. This development marks a positive step for both the industry and the broader economy.