Tbilisi (GBC) - The chain of microfinance organizations (MFOs) has expanded. In Q2/2024, the staff increased by 5.6%.

At the moment, MFO "Crystal" employs about 1,000 persons, while 750 are employed in MFO "Rico", which is represented by the largest network of 61 service centers throughout the country. The second is "Crystal", with 47 service departments.

With more than 45 branches, there are 2 more banks on the market, MFO "Creditservice+" and MFO Leader Credit.

More than half of the credit investments come from 2 big market players. "Rico" has a portfolio of up to 550 million GEL, "Crystal" has a portfolio of up to 500 million GEL, which is traded in the banking market.

Staff maintenance costs in the sector are 67.7 million. Of this, 10.5 million are expenses of "Rico". The cost of "Crystal" in half a year is up to GEDL18.3 million.

In the microfinance sector, which is represented by 34 municipalities, 4,675 are employed.

       

 

Employed

Branches

 

Crystal

992

47

 

Rico

750

61

 

Lazica Capital

450

20

 

Swiss Capital

 378

33

 

Leader Credit

 375

47

 
 

   Unit

Service centers

 

Source: NBG