Fitch Affirms Microbank Crystal at 'B'/Stable; Withdraws Ratings
Fitch Ratings - Frankfurt am Main - 27 Aug 2025: Fitch Ratings has affirmed JSC Microbank Crystal's (Crystal) Long-Term Issuer Default Rating (IDR) at 'B' with a Stable Outlook and subsequently withdrawn its ratings.
Fitch has withdrawn the entity's ratings for commercial reasons. Therefore, Fitch will no longer provide ratings or analytical coverage of the issuer.
Prior to its withdrawal, Crystal's IDR reflected its robust profitability, underpinned by a solid net interest margin, reasonable asset quality metrics and adequate capitalisation. The ratings were constrained by Crystal's niche franchise, specialised in unsecured micro and consumer lending, predominantly in rural regions of Georgia, and reliance on wholesale funding, as deposit accumulation following its transition to a microbank, will only be gradual.
For further details of the key rating drivers for Crystal's IDR, see 'Fitch Affirms Microbank Crystal at 'B'; Outlook Stable', dated 19 June 2025 at www.fitchratings.com).
Not applicable as the ratings have been withdrawn
Not applicable as the ratings have been withdrawn.
The principal sources of information used in the analysis are described in the Applicable Criteria.
Crystal has an ESG Relevance Score of '4' for Exposure to Social Impacts due to its business model being focused on the under-banked population, which facilitates access to funding from international financial institution. This has a positive impact on Crystal's credit profile and is relevant to the ratings in conjunction with other factors.
The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. For more information on Fitch's ESG Relevance Scores, visit https://www.fitchratings.com/topics/esg/products#esg-relevance-scores.
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Basisbank Wins ADB`s Award for Best SME Deal of the Year
08.09.2025.15:31
Basisbank has been recognized by the Asian Development Bank (ADB) with the prestigious SME Deal of the Year Award, presented during ADB’s annual Trade and Supply Chain Finance Program Awards ceremony held in Singapore on September 2, 2025.
This recognition highlights Basisbank’s strong commitment to supporting the growth of small and medium-sized enterprises (SMEs) in Georgia and beyond. By providing tailored financial solutions and facilitating access to trade finance, Basisbank continues to empower businesses that play a vital role in driving economic development.
Receiving the SME Deal of the Year Award demonstrates Basisbank’ s dedication to innovation, responsible financing, and its mission to strengthen Georgia’s business sector by enabling SMEs to expand their opportunities in both local and international markets.
“We are honored to receive this award from ADB, which affirms our efforts to stand beside Georgian SMEs as they grow and compete globally,” said David Tsaava, General Director of Basisbank. “We would especially like to thank ADB for its longstanding and fruitful partnership, which plays a crucial role in strengthening our businesses. This recognition encourages us to continue expanding access to financial solutions that help businesses thrive.”
The ADB’s Trade and Supply Chain Finance Program annually honors partner banks that deliver excellence in trade finance and contribute to sustainable economic progress across Asia and beyond.
