Credo Bank
Credo Bank is the fifth-largest commercial bank in Georgia, serving over 500,000 retail, MSME, diaspora, and expat customers through 97+ service centers and digital channels including the Mycredo mobile app and video banking. It originates digital, auto, mortgage, and BNPL loans, and is owned by European and Japanese development finance institutions.
- Company typePrivate
- Founded1996
- HeadquartersTbilisi, Georgia
- Headcount5,001–10,000
- GTM typeB2B and B2C
- OfferingServices
What Credo Bank does
Credo Bank (კრედო ბანკი) is a private commercial bank headquartered in Tbilisi, Georgia, founded in 1995/1996 and ranked as the country's fifth-largest commercial bank. The bank serves more than 500,000 retail, MSME, diaspora, and expat customers through a hybrid model combining 97+ service centers across Georgia and digital channels including the Mycredo mobile application, video banking, and online lending portals. Its core product set comprises digital personal loans (up to 30,000 GEL approved in 30 minutes), auto loans (up to 75,000 GEL including a dedicated EV financing line), mortgage loans under the Binoteka brand (up to 500,000 GEL), the Da-Qa-Vi buy-now-pay-later installment service (up to 12,000 GEL, 0% effective rate), credit history improvement loans, deposits (including a Green Deposit product), multi-currency accounts, RIA international remittances, and the Rchuli premium banking tier.
The bank's underlying technology is mobile-first with a digital banking platform supporting instant loan approvals, QR-based merchant payments (Keepz), video banking for remote account opening, multi-currency management, and digital-corner self-service kiosks inside branches. Distribution is augmented by partner ecosystems spanning 13+ auto dealers, 40+ BNPL merchants (including electronics retailers such as Technoboom, Elite, Extra, Alta, Zoomer), and 13+ real estate developers for the Binoteka mortgage product. Revenue is generated primarily through net interest spreads on consumer and MSME loans (with nominal rates from 10.9% on digital loans to 20.5% on collateralized auto loans), BNPL merchant fees, deposit interest spreads, international remittance fees, card and account service fees, and insurance distribution commissions.
Ownership is concentrated among international development finance institutions — German Access Credo GmbH, French Proparco (shareholder since 2021 with a EUR 16.5M investment), Japanese Gojo & Company Inc. (entered December 2024, increased stake August 2025), alongside a 2023 EUR 16.5M investment from BlueOrchard Microfinance Fund — providing multi-currency and local-currency funding capacity. The bank carries a Fitch Long-Term Issuer Default Rating of B+ with Stable Outlook (upgraded April 2026), is the sole Georgian member of the Global Alliance for Banking Values (GABV), and operates as the official financial inclusion partner for underserved segments including informal-economy workers, women entrepreneurs, and youth across Georgia.
Credo Bank firmographics
Firmographics- Name
- Credo Bank
- Legal name
- Credo Bank (კრედო ბანკი)
- Website
- https://credobank.ge
- Company type
- Private
- Founded year
- 1996
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Credo Bank is the fifth-largest commercial bank in Georgia, serving over 500,000 retail, MSME, diaspora, and expat customers through 97+ service centers and digital channels including the Mycredo mobile app and video banking. It originates digital, auto, mortgage, and BNPL loans, and is owned by European and Japanese development finance institutions.
- Ownership category
- akta.pro rank
Credo Bank industry classification
Industry- Product category
- Retail Banking
- NAICS
- Commercial Banking (522110)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- General SME & Middle-Market Commercial Banking (FSABABAA)
- akta.pro secondary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
Keywords
Where Credo Bank is headquartered
LocationHeadquarters
- HQ city
- Tbilisi
- HQ country
- Georgia
- HQ region
- Asia
Offices86 records
Markets served
Credo Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain
Revenue model
- Interest Income on Loans: The primary revenue stream, generated from consumer loans (digital loans up to 30,000 GEL), auto loans (up to 75,000 GEL), mortgage/Binoteka loans (up to 500,000 GEL), and credit history improvement loans. Rates start from 10.9% annual for digital loans, 16.5% for auto loans, and 13.24% for mortgages.
- Installment (Buy Now Pay Later) Fees: Revenue from merchant partnerships offering installment payment plans (0% effective rate for customers) through the Da-ka-vi (BNPL) service at partner retailers, auto dealers, and travel agencies.
- Deposit Interest Spreads: Income generated from the spread between interest paid on deposit products (term deposits, savings, children's deposits, green deposits) and interest earned on loan portfolios.
- International Remittance Services: Fees from international money transfers via the RIA system, serving both incoming remittances for immigrants and cross-border transfers.
- Card and Account Services: Revenue from credit and debit card transactions, account maintenance fees, and premium services (e.g., premium debit cards for Rchuli/priority clients with lounge access).
- Insurance Distribution: Commission revenue from offering insurance products (health and other) through the bank's distribution network.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Monthly | Digital Loan: 500 to 30,000 GEL, 4-48 months |
| Usage-based | Monthly | Auto Loan: up to 75,000 GEL, 12-72 months |
| Usage-based | Monthly | Auto Loan with Vehicle as Collateral: 12-72 months |
| Usage-based | Monthly | Installment (Da-ka-vi) Limit: up to 12,000 GEL |
| Usage-based | Monthly | Binoteka Mortgage: 10,000 to 500,000 GEL, 7-180 months |
| Usage-based | Monthly | Credit History Improvement Loan: 500 to 40,000 GEL, 12-60 months |
| Subscription | Monthly | Rchuli (Premium) Banking: multi-component premium service |
Go-to-market motion2 records
Distribution channels9 records
Marketing channels7 records
Credo Bank product offering
Product offeringCore offering
Credo Bank is a commercial bank offering retail and SME financial products and services across Georgia through 97+ service centers and digital channels. Its core offerings include consumer and MSME loans (digital loans up to 30,000 GEL processed in 30 minutes, auto loans up to 75,000 GEL, mortgages up to 500,000 GEL), installment (BNPL) payments at partner merchants, multi-currency deposit accounts, credit/debit cards, international remittances via RIA, and insurance distribution. The bank serves retail consumers, micro/small/medium enterprises, diaspora Georgians abroad, foreign expats, agro-entrepreneurs, and youth through both physical branches and digital-first channels including the Mycredo mobile app and video banking.
Product overview
Credo Bank operates as a multi-channel banking platform offering a comprehensive suite of financial products and services targeting Georgia's retail, SME, emigrant, and expat segments. The core product portfolio includes digital loans (up to 30,000 GEL processed in 30 minutes), auto loans (up to 75,000 GEL), mortgage/Binoteka services (up to 500,000 GEL), and credit history improvement loans. The Da-Qa-Vi installment service enables merchant-based purchases with 0% commission over 8 months. Digital channels include Mycredo mobile banking app (iOS/Android) and video banking platform for remote service delivery. Premium tier Credo Rcheuli provides exclusive banking with concierge services, premium cards with airport lounge access, and priority service. Specialized offerings include Ria international transfers, Keepz QR payments, various deposit products (term, savings, kids, green), insurance, and educational financing. The bank serves 500,000+ customers across 97+ service centers in Georgia, with Fitch B+ stable rating.
Differentiator
Problem solved
Functional benefit
Brands
- Mycredo: Mobile banking application of Credo Bank providing banking products and services digitally.
Products and services
- Digital Loan (ციფრული სესხი) Online personal loan for retail consumers up to 30,000 GEL processed within 30 minutes, available 24/7 including weekends via the Mycredo mobile app without visiting a service center. Annual nominal rate from 10.9%; effective rate from 18.82%.
- Auto Loan (ავტო სესხი) Vehicle financing up to 75,000 GEL for new, used, or electric vehicles with same-day financing, terms from 12-72 months and annual rates from 16.5%. Includes variant with vehicle as collateral at annual rates from 20.50%.
- Da-Qa-Vi Installment Service (და-ყა-ვი) BNPL installment payment service allowing purchases up to 12,000 GEL to be split over 3-48 months at 0% effective rate through 40+ partner merchants in electronics, furniture, agriculture, travel, and health sectors.
- Binoteka Mortgage (ბინოთეკა) Mortgage service with personal manager assistance for property purchase, offering loans from 10,000-500,000 GEL with terms from 7-180 months at annual rates from 13.24%. Includes a subsidized state mortgage program up to 200,000 GEL through Enterprise Georgia.
- Deposits (ანაბრები) Suite of deposit products including term deposits, target deposits, savings deposits, kids deposits, and certificate of deposits. Includes Green Deposit channeling funds to environmental initiatives through partnerships with Aldagi Insurance and Let's Do It Georgia.
- Credit History Improvement Loan Loan product designed to help previously excluded borrowers rebuild credit scores, with amounts from 500-40,000 GEL, terms of 12-60 months, annual rates from 17%, and payments reported to credit bureau as positive entries.
- Mycredo Mobile Banking Mobile banking application for iOS and Android enabling full banking services including loans, instant transfers, deposits, card management, video banking, currency exchange, and deposit opening 24/7.
- Video Banking (ვიდეო ბანკინგი) Remote banking service via video connection (videobanking.credo.ge) enabling full account opening, loan applications, card issuance, and complete banking services without visiting a physical branch, accessible from any country worldwide.
- Keepz QR Terminal QR code payment terminal service for merchants enabling contactless payments, installment options, and split (Da-Qa-Vi) payments integrated with the bank's installment service.
- Credo Rcheuli (Premium Banking) Premium multi-component banking service providing preferential loan and deposit rates, premium debit cards with airport lounge access, complimentary concierge service, priority queue-free service, email banking, and free remote services.
- Cards (ბარათები) Range of debit and credit cards including instant-issue digital cards, premium cards for Rchuli members with airport lounge access, and tokenized payment support via Apple Pay and Google Pay.
- RIA International Transfers International money transfer service via the RIA system enabling cross-border remittances to and from 150+ countries, accessible via mobile app, video banking, and service centers.
- Insurance (დაზღვევები) Insurance products and coverage services distributed through the bank's branch and digital channels, including health insurance available to Credo Rchuli premium customers.
- Student Loan Educational financing product supporting investment in human capital through student loans, offered as part of Credo Bank's social responsibility and education support initiatives.
- Green Deposit Eco-friendly deposit product where customer savings fund environmental cleanup projects in partnership with Aldagi Insurance and Let's Do It Georgia, including forest and park cleaning initiatives.
- Instant Transfers 24/7 instant money transfer service to other banks via the Mycredo mobile banking app using only an account number.
- Credo Universal (კრედო უნივერსალი) Special banking service package with preferential conditions and tariffs for banking products and services.
- Credo Konsuli (კრედო კონსული) Service allowing customers to transfer funds from their current account for utilities and other payments without visiting a service center.
- Agrove (აგროვე) Collective savings aggregator service enabling groups to save toward common goals with simplified management of group savings processes.
- Electronic Money Box (ელექტრონული ყულაბა) Automatic savings service enabling customers to build savings over time through automated accumulation features.
Quantifiable outcome
- 500,000+ customers served across Georgia, indicating broad financial inclusion reach
- +4 more outcomes
Companies that use Credo Bank
Customer profileNamed customers34 records
Segments7 records
Ideal customer profiles3 records
Credo Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature5 records
Credo Bank partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered minor.
- Fitch RatingsminorInternational credit rating agency that assigned Credo Bank a Long-Term Issuer Default Rating (IDR) of 'B+' with Stable Outlook in April 2026, reflecting the bank's strong financial performance and capital levels.
- Global Alliance for Banking Values (GABV)minorCredo Bank is the sole Georgian member of the Global Alliance for Banking Values (GABV), an international network of banks committed to sustainable and values-based banking practices. The bank also hosted GABV's 2024 European regional meeting in Georgia.
- Pro Bono GeorgiaminorCredo Bank has been an active member of Pro Bono Georgia since 2015 (a network of 28 companies). Through this partnership, the bank provides pro bono consulting services including HR mentoring, marketing strategy development, and skills-based volunteering programs for community organizations.
- Aldagi InsuranceminorInsurance company partner for Credo Bank's Green Deposit project, supporting environmental initiatives funded through green banking products.
- Enterprise Georgia (Agency of Georgia)minorCredo Bank participates in the state-subsidized mortgage program administered by Enterprise Georgia (Agency for Promotion of Competition and Investment), offering subsidized mortgage loans up to 200,000 GEL for eligible borrowers.
- Let's Do It GeorgiaminorEnvironmental cleanup movement partner for Credo Bank's Green Deposit project. Partnered on forest cleaning initiatives at Rukhi Fortress, Tskaltubo Park, Ujarmi Forest, Sabaduri Forest, and other natural sites.
- Aquamasters AllianceminorSwimming club supported by Credo Bank that won multiple medals (4 gold, 1 silver, 2 bronze) at Open Masters Games Abu Dhabi 2026. Credo Bank sponsors the team as part of its social responsibility program supporting sports and community initiatives.
- Enkenia Food BankminorCharitable partner for Credo Bank's holiday season food aid initiative, distributing food packages to 40 socially vulnerable families in Kakheti and Lower Kartli regions.
- Enkelaid Food BankminorCharitable partner for Credo Bank's holiday season food aid initiative, distributing food packages to 40 socially vulnerable families in Kakheti and Lower Kartli regions.
Scale indicators7 records
Recent moves9 records
Expansion highlights6 records
Credo Bank competitors and assessment
Company assessmentDirect peers
- Liberty Bank: Georgian commercial bank with strong retail and SME lending focus, comparable in scale and customer segments to Credo. Operates a multi-branch network and competes directly for the same MSME and consumer customers across Georgian regions.
- Basisbank: Smaller Georgian commercial bank offering retail and SME banking services. Operates in the same Georgian regulatory environment and competes for similar MSME and consumer customers as Credo, though at smaller scale.
- ProCredit Bank Georgia: Georgian subsidiary of ProCredit Holding focused on SME and inclusive banking with a values-based model. Closest peer by mission, target customer, and lending approach — both serve MSMEs with development-finance backing.
- VTB Bank Georgia: Georgian subsidiary of Russia's VTB Group offering retail and commercial banking. Competes directly in the same Georgian market across corporate, SME, and retail segments, with a meaningful branch footprint.
- Bank of Georgia: Largest commercial bank in Georgia and direct competitor to Credo across retail deposits, SME lending, mortgages, and consumer credit in the same geography. Listed on LSE (BGEO) and operates the largest branch and digital network in the country.
- TBC Bank Group: Second-largest commercial bank in Georgia, competing directly with Credo in retail and SME lending. Listed on LSE (TBC), TBC has substantial digital banking capabilities and a strong consumer brand, posing the primary competitive threat to Credo's customer base.
Others
- Equity Group Holdings: Kenyan financial-inclusion banking group serving MSMEs and informal workers across East Africa. Comparable social-mission DNA and customer profile (thin-file, informal-economy borrowers) but operates in African rather than Caucasian market.
- BRAC Bank: Bangladeshi commercial bank with strong financial inclusion and SME focus, born from microfinance parent BRAC. Comparable mission of serving underserved MSMEs and informal workers, though operating in a different geography.
Broad incumbents
- ProCredit Holding: Frankfurt-listed parent of a network of SME-focused 'values-based' banks across Eastern Europe, Latin America, and Africa. Operates an identical development-finance-backed SME banking model with shared IT platform, comparable mission and funding sources to Credo.
Emerging players
- Compartamos Banco: Mexican microfinance-turned-commercial bank with similar financial-inclusion DNA — transformed from a microfinance NGO into a regulated bank serving informal and SME borrowers. Comparable trajectory and customer focus to Credo.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Credo Bank social profiles
Digital presenceCredo Bank compliance and trust
Trust signalCompliance3 records
Credo Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Credo Bank leadership team
Management profileNumber of profiles
Profiles1 record
Credo Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Credo Bank M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Credo Bank
What does Credo Bank do?
Credo Bank is a commercial bank offering retail and SME financial products and services across Georgia through 97+ service centers and digital channels. Its core offerings include consumer and MSME loans (digital loans up to 30,000 GEL processed in 30 minutes, auto loans up to 75,000 GEL, mortgages up to 500,000 GEL), installment (BNPL) payments at partner merchants, multi-currency deposit accounts, credit/debit cards, international remittances via RIA, and insurance distribution. The bank serves retail consumers, micro/small/medium enterprises, diaspora Georgians abroad, foreign expats, agro-entrepreneurs, and youth through both physical branches and digital-first channels including the Mycredo mobile app and video banking.
Is Credo Bank a public or private company?
Credo Bank is a private company. It is classified as venture growth investor backed and is currently operating.
When was Credo Bank founded?
Credo Bank was founded in 1996. It employs 5,001 to 10,000 people.
Where is Credo Bank based?
Credo Bank is headquartered in Tbilisi, Georgia, in the Asia region.
How does Credo Bank make money?
Six revenue lines are on record. Interest Income on Loans are the primary driver. The others are installment (Buy Now Pay Later) Fees, deposit Interest Spreads, international Remittance Services, card and Account Services and insurance Distribution.
Who are Credo Bank's main competitors?
Direct peers on record are Liberty Bank, Basisbank, ProCredit Bank Georgia, VTB Bank Georgia, Bank of Georgia and TBC Bank Group. Others are Equity Group Holdings and BRAC Bank. ProCredit Holding is listed as a broad incumbent. Compartamos Banco is listed as an emerging player.
Does Credo Bank have an API?
No public API is recorded for Credo Bank.
What industry is Credo Bank in?
Credo Bank's product category is Retail Banking. Its primary akta.pro industry code is FSABABAA, General SME & Middle-Market Commercial Banking, with a secondary code of FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings). Its NAICS code is 522110 and its SIC code is 6022.