The French Development Finance Institution PROPARCO became a shareholder of Credo Bank, with the support of this investment, Credo Bank acquired 100% of the shares of Finca Bank Georgia. Integration process was successfully completed in an unprecedentedly short time.

Credo Bank ranked 7th among Georgian commercial banks by assets and – 5th- by portfolio.

Significant steps have been taken towards digitalization and the development of new products. Internet and Mobile Banking application Mycredo has been updated, which, in addition to being equipped with many new features, has already been adapted for 7 languages and can be used without connecting to the mobile internet.

A special package of offers has been created for emigrants, thus making the use of banking services even more accessible from anywhere in the world.

Several groundbreaking projects have been cultivated for maximizing service timing, such as an instant installment approval at partner shops and pre-approved loan and installment terms for collateral with regard to an active client; online onboarding, and getting a loan online through online contracts.

Entirely innovative depositing products have also been developed: decreasing and unified deposit.

The credit portfolio has exceeded over 1 billion GEL. Therefore, Credo Bank has acquired the 7th position and improved its ranking in the Georgian banking market.

Internet and mobile banks – Mycredo, have been cultivated for physical persons with fully operational capabilities. Credo Bank has established an online depositing capacity for money transfers and a free order-delivery service of plastic cards.

The bank has developed an innovative product for issuing a loan that can improve a client’s credit history, which empowers clients with negative records to be eligible for financial resources and improve their credit history.

• Credo Bank offers to customers the current account, deposit and debit card. With mycredo.ge portal, users can access services on different types of online products.
• At the same year, Credo actively worked on the creation of kalo.ge agro portal. The portal is educational, providing video instructions and agro calendar for farming activities.

Credo received a bank license and became a Credo bank. That same year, laid the basis for the development of digital banking, which means improving banking services through innovative technologies.

Credo Bank has won the SMART campaign "Consumer Protection Certificate". This is the largest-scale international campaign for consumer protection.

year was closed with USD 177 million loan portfolio and 197 thousand active clients. Credo opened 9 new branches in different regions of Georgia and was presented by 59 branches in total.

Access Microfinance Holding AG (AccessHolding), responsAbility Investments AG (responsAbility), Triodos Investment Management BV (Triodos) and VisionFund International (VisionFund) announce that the sale of VisionFund’s microfinance institution in Georgia, Microfinance Organization Credo to a consortium of social impact investors comprising AccessHolding and funds managed or advised by responsAbility and Triodos.

Distinguished by deepening outreach in regions, Credo opened ten new rural branches consequently covering all regions of Georgia. New product – NEO loans have been created, which enables access to financial services to one of the lowest segments employed in micro and small businesses.

First Credo summer academy founded and conducted.

Credo received MFC and Smart Campaign Award for The Best Practice in Customer Over-Indebtedness prevention, launched the Poverty Score Card system and financed large scale community social activities.

Credo maintained the status of the leader, inovator organization. The rural position of the organization was strengthened with the opening of six new and two existing branches. In the same year, the borrowers offered the instalment with a plastic card, installing the payment machines in all branches and own terminals at home appliances stores.

Credo took the leading position among microfinance organizations of Georgia. In the same year geographically expanded and opened two new branches with rural positioning.

Credo has implemented several innovative projects, the most important of which is to develop Credo's strategic plan, develop a new system of payments and lifetime credit insurance.

The motivation to effectively combat the economic stagnation, the desire to grow and the changing time, positively reflected on the growth rate of the organization. 100% increase as a number of clients as well as a credit portfolio.

Because of a new law on microfinance VisionFund Credo non-commercial non-entrepreneurial entity has established a new company, LLC MicroFinance Organisation Credo. The new Credo has been licensed by the National Bank of Georgia as an MFO and VisonFund Credo transferred all the rights and obligations of outstanding loan agreements to LLC MFO Credo.

WV/GEF has been registered as a local, independent, legal entity. The amendment to the law made it possible for the organization to grant the microfinance organization's qualifications.

support from CIDA enabled growth from a one-branch operation with a small portfolio to start branches in Kutaisi and Batumi, double the portfolio and triple the number of clients. Strong growth continued since then with new branches in Akhaltsikhe and Borjomi.

The international organization "World Vision" has launched “Georgia’s Entrepreneurs’ Fund” (GEF). The mission was simple but still important - providing sustainable financial services for entrepreneurially vulnerable and small businesses.