Tbilisi (GBC) - Microfinance lending is within 1.4 billion GEL as of April 1. The most growing (+38%Y.Y) is the portfolio of MDO “Rico”, which consists mainly of pawn loans, and is also represented by foreign currency loans, equivalent to 8 million GEL in foreign currency.

As of Q1/2025, the market is represented by 30 MFOs, whose total portfolio has decreased by 300 million compared to the same period in 2024. This is only the effect of the exit of 2 MFOs from the market. The former MFO, Crystal, moved to the microbanking market with credit investments of more than 500 million GEL. MBC, whose portfolio was within 120 million GEL, also left the MFO.

Lazika Capital, which, unlike the other pawnshops in the TOP-8, is also preparing for microbanking, is represented by a business portfolio.

TOP-8 MFOS

 

     Q1/2025

    Q1/2024

 

Rico 

668.0

484.4

 

Swiss Capital

249.6

202.3

 

Leader Credit

174.0

  82.2

 

Smart Finance

  83.6

  71.3

 

Euro Credit

  75.8

  72.9

 

Lazika

  64.2

  58.0

 

Credit Service+

  51.7

  48.9

 

Intel Express

  31.4

  22.7

 

 

 MLN GEL

MLN GEL

 

Source: BRG