SilkBank
SilkBank is a Georgian digital-first commercial bank offering retail and corporate loans, deposits, cards, BNPL, crypto trading, and utility bill management through its SilkApp mobile platform, serving individuals, self-employed borrowers, and SMEs primarily across Georgia.
- Company typePrivate
- Founded-
- HeadquartersT'elavi, Georgia
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What SilkBank does
SilkBank is a privately held Georgian commercial bank (JSC) headquartered in Tbilisi, operating as a digital-first retail and corporate banking institution with 51–100 employees. Its core distribution surface is the SilkApp mobile banking application on iOS and Android, supplemented by internet banking, telephone banking, and physical service centers across Georgia. The bank's product suite spans consumer loans (up to 80,000 GEL), auto loans (up to 70,000 GEL with zero commission), mortgages, business loans, specialized loans for self-employed individuals and Silknet telecom subscribers, four deposit variants (on-call, term, increasing, certificate of deposit), debit/credit cards, a gamer-focused PLAY card, and digital-first cards — alongside emerging offerings including the Mere BNPL service (6-month, 0% effective rate), crypto trading, a points-based loyalty program, and the Gaatanabre utility bill management platform built with SOCAR Gas Georgia.
SilkBank's revenue model is anchored by net interest income from its lending book, supplemented by fee and commission income from account maintenance, transfers, FX, and card services, with deposit interest expense as a major offset. Pricing is transaction-based with no account maintenance or minimum balance fees for retail customers and free standard GEL transfers up to 10,000 GEL, indicating a high-volume, low-fee acquisition posture. The bank operates PSD2-compliant Open Banking APIs (psd2-portal.silkbank.ge) for third-party account information, payment initiation, and onboarding, and integrates with Google Pay and Apple Pay.
As of year-end 2023, SilkBank reported total assets of 167.1 million GEL (+90.4% YoY), total customer deposits of 98.6 million GEL (+593% YoY), retail deposits of 29.5 million GEL (up from 4.3 million), and a net loans/deposits ratio of 47.1%, indicating substantial unused lending capacity. The bank received a 9.8 million GEL shareholder capital injection in 2023, surpassed 100,000 active SilkApp users by April 2025, and is privately held with no identified institutional or PE investors in the available source materials.
SilkBank firmographics
Firmographics- Name
- SilkBank
- Legal name
- სს სილქ ბანკი
- Website
- https://silkbank.ge
- Company type
- Private
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- SilkBank is a Georgian digital-first commercial bank offering retail and corporate loans, deposits, cards, BNPL, crypto trading, and utility bill management through its SilkApp mobile platform, serving individuals, self-employed borrowers, and SMEs primarily across Georgia.
- Ownership category
- akta.pro rank
SilkBank industry classification
Industry- Product category
- Commercial Banking
- NAICS
- Depository Credit Intermediation (5221), Commercial Banking (522110)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Retail-focused Neobanks (Mass Market) (FSABAFAA)
- akta.pro secondary industries
- BNPL Consumer Apps & Wallets (Discovery, Management) (FSAGAIAG), SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB)
Keywords
Where SilkBank is headquartered
LocationHeadquarters
- HQ city
- T'elavi
- HQ country
- Georgia
- HQ region
- Asia
Offices1 record
Markets served
SilkBank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Interest Income: Revenue from lending activities including consumer loans, auto loans, mortgages, business loans, and loans for self-employed individuals
- Fee and Commission Income: Revenue from banking operations including account maintenance fees, transfer fees, currency exchange, and card services
- Deposit Interest Expenses: Interest paid on customer deposits including term deposits, on-call deposits, and increasing deposits
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Corporate Account Services - Cash Operations |
| Transaction based/ take rate | Pay-as-you-go | Corporate Account Services - Electronic Transfers |
| Other | Monthly | Retail Account Services |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
SilkBank product offering
Product offeringCore offering
SilkBank is a Georgian commercial bank providing retail and corporate banking products including consumer loans, auto loans, mortgages, business loans, deposits (on-call, term, increasing, certificate), debit and credit cards, money transfers, currency exchange, crypto trading, and a BNPL (Mere) service. The bank operates a digital-first model anchored by its SilkApp mobile banking application, with physical bank service centers across Georgia supplementing the digital channels.
Product overview
SilkBank is a Georgian commercial bank offering a comprehensive digital-first banking platform. The core product is the SilkApp mobile banking application, supplemented by a full range of retail and corporate banking services. Retail products include consumer loans, auto loans, mortgage loans, and specialized loans for self-employed and Silknet customers. Deposit products encompass on-call, term, increasing, and certificate of deposit options. The bank offers debit and credit cards including the PLAY card for gamers and a digital-first card. Notable add-on services include the 'Mere' BNPL (Buy Now Pay Later) service, a crypto trading platform, a points-based loyalty system, and the 'Gaatanabre' natural gas bill management program. Corporate services include business loans, corporate deposits, and BNPL for merchants. The bank provides Open Banking APIs compliant with PSD2 regulations.
Differentiator
Problem solved
Functional benefit
Brands
- SilkApp: Mobile banking application for iOS and Android providing digital banking services
- PLAY Card
- მერე (Mere)
Products and services
- Consumer Loans (სამომხმარებლო სესხი) Personal loans up to 80,000 GEL with flexible terms available to individual retail customers via the Silk mobile app, for general consumption purposes.
- Auto Loans (ავტო სესხი) Vehicle financing loans up to 70,000 GEL with zero commission, available without income verification, for individuals purchasing cars.
- Mortgage Loans (იპოთეკური სესხი) Real estate secured loans for purchasing or refinancing residential property, offered to individual retail customers.
- Business Loans (ბიზნეს სესხი) Commercial lending products providing business financing for corporate and SME clients.
- Self-Employed Loans (სესხი თვითდასაქმებულებისთვის) Loans designed for self-employed individuals up to 40,000 GEL with customized terms, addressing income verification challenges.
- Silknet Customer Loans (სესხი სილქნეტის მომხმარებლებისთვის) Specialized loans for Silknet telecommunications customers, available without standard income documentation.
- On-Call Deposits (მოთხოვნამდე დეპოზიტი) Demand deposits with immediate withdrawal access, providing liquidity to depositors.
- Term Deposits (ვადიანი დეპოზიტი) Fixed-term savings deposits with guaranteed interest rates for retail and corporate customers.
- Increasing Deposits (ზრდადი დეპოზიტი) Savings deposits with progressively increasing interest rates over time, rewarding longer holding periods.
- Certificate of Deposit (სადეპოზიტო სერტიფიკატი) Negotiable deposit certificates with fixed terms and guaranteed returns.
- Debit Cards Standard debit cards for everyday banking, cash withdrawals, and purchases, including Apple Pay and Google Pay support.
- Credit Cards Credit card products providing flexible borrowing capacity to retail customers.
- PLAY Card Specialized debit card designed for gamers, offering benefits and rewards at gaming merchants.
- Mere Card (BNPL) (მერე) Buy Now Pay Later service allowing purchases to be split over 6 months at 0% effective rate, usable for travel tickets, hotel bookings, and entertainment tickets at partner merchants.
- Crypto Services (კრიპტო) Cryptocurrency buying and selling services offered to bank customers.
- Money Transfers (ფულადი გზავნილები) Domestic and international money transfer services including transfers from European banks and international remittances.
- SilkApp (Mobile Banking) Digital banking platform providing mobile access to accounts, loans, transfers, and card management for retail and corporate customers, available on iOS and Android.
- Internet Banking Online banking platform for account management and transactions via web browser, available to retail and corporate customers.
- Gaatanabre (Gas Balance) Program (გაათანაბრე) Natural gas bill management program with fixed monthly payment plans based on individual usage patterns, in partnership with SOCAR Gas Georgia.
Quantifiable outcome
- Total assets grew 90.4% in 2023 to 167.1 million GEL
- +3 more outcomes
Companies that use SilkBank
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles4 records
SilkBank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature1 record
SilkBank partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- SOCAR Gas GeorgiaminorPartnership with SOCAR Gas Georgia for the 'Gaatanabre' (Balance) program, enabling customers to manage natural gas expenses through a fixed monthly payment plan based on individual usage patterns. Pilot program successfully launched in Kutaisi, Rustavi, and Mtskheta with plans for expansion.
Scale indicators7 records
Recent moves7 records
Expansion highlights5 records
SilkBank competitors and assessment
Company assessmentDirect peers
- ProCredit Bank Georgia: Part of the ProCredit network, serving SMEs and retail customers in Georgia with a focus on digital banking. Comparable business mix including consumer and SME lending plus digital-first services.
- BasisBank: Georgian commercial bank offering retail deposits, consumer loans, and corporate banking. Directly competes with SilkBank in the same domestic Georgian market with similar deposit-gathering and lending orientation.
- Bank of Georgia: The largest commercial bank in Georgia, offering retail and corporate banking, deposits, loans, cards, and digital banking. Directly competes with SilkBank in mass-market retail and SME lending, with substantially larger scale.
- TBC Bank: Second-largest Georgian commercial bank with strong retail, SME, and digital banking franchises. Competes head-to-head with SilkBank for retail deposits, consumer loans, and merchant acquiring across Georgia.
- VTB Bank Georgia: Russian-owned commercial bank operating in Georgia with retail deposits, loans, cards, and digital banking. Overlaps with SilkBank on core retail deposit and consumer lending products within the same Georgian market.
- Credo Bank (Georgia): Georgian bank focused on microfinance, SME lending, and consumer credit. Comparable to SilkBank in scale and customer segments, particularly self-employed and small business borrowers.
- Liberty Bank (Georgia): Mid-sized Georgian commercial bank with retail and corporate focus. Targets overlapping customer segments and similar product mix (deposits, loans, cards), making it a directly comparable mid-market competitor.
Broad incumbents
- N26: European digital-first bank with mobile-led retail accounts, transfers, and lending. Shares SilkBank's emphasis on mobile UX as primary distribution and product breadth beyond traditional banking.
- Revolut: Global digital-first neobank offering accounts, cards, transfers, crypto, and BNPL across 30+ markets. Comparable business model to SilkBank's digital-first, multi-product retail approach, with much larger scale and broader product set.
Emerging players
- Halyk Bank: Large Kazakhstan-based universal bank with retail, SME, and digital banking franchises across Central Asia. Comparable as a regional emerging-market incumbent pursuing digital transformation and product diversification.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
SilkBank social profiles
Digital presenceSilkBank compliance and trust
Trust signalCompliance1 record
SilkBank financial estimates
Financial estimateRevenue estimate
Valuation estimate
SilkBank leadership team
Management profileNumber of profiles
Profiles1 record
SilkBank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SilkBank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SilkBank
What does SilkBank do?
SilkBank is a Georgian commercial bank providing retail and corporate banking products including consumer loans, auto loans, mortgages, business loans, deposits (on-call, term, increasing, certificate), debit and credit cards, money transfers, currency exchange, crypto trading, and a BNPL (Mere) service. The bank operates a digital-first model anchored by its SilkApp mobile banking application, with physical bank service centers across Georgia supplementing the digital channels.
Is SilkBank a public or private company?
SilkBank is a private company. It is classified as unknown and is currently operating.
When was SilkBank founded?
SilkBank was founded in -1. It employs 51 to 100 people.
Where is SilkBank based?
SilkBank is headquartered in T'elavi, Georgia, in the Asia region.
How does SilkBank make money?
Three revenue lines are on record. Interest Income is the primary driver. The others are fee and Commission Income and deposit Interest Expenses.
Who are SilkBank's main competitors?
Direct peers on record are ProCredit Bank Georgia, BasisBank, Bank of Georgia, TBC Bank, VTB Bank Georgia, Credo Bank (Georgia) and Liberty Bank (Georgia). Broad incumbents are N26 and Revolut. Halyk Bank is listed as an emerging player.
Does SilkBank have an API?
Yes. SilkBank operates PSD2-compliant Open Banking APIs providing account information services, payment initiation services, onboarding services, loan information sharing, and deposit information sharing. The bank maintains two API portals: psd2-portal.silkbank.ge and psd2-v1-portal.silkbank.ge for third-party provider access. Developer documentation is at psd2-portal.silkbank.ge.
What industry is SilkBank in?
SilkBank's product category is Commercial Banking. Its primary akta.pro industry code is FSABAFAA, Retail-focused Neobanks (Mass Market), with a secondary code of FSAGAIAG, BNPL Consumer Apps & Wallets (Discovery, Management). Its NAICS code is 5221 and its SIC code is 6022.