JSC "FINCA Bank Georgia"

Anna Mileiko Created by Anna Mileiko

JSC FINCA Bank Georgia Logo

Address

#71, Vazha-Pshavela avenue, 0181, Tbilisi, Georgia

BIC

FGEOGE22

Overview

Category

Commercial banks

Business Focus

SME financing

FINCA Bank Georgia is a member of FINCA Impact Finance Network, a group of 20 microfinance and financial institutions providing socially responsible financial services and enables low-income entrepreneurs and small business owners to invest in the future. FINCA has been present in Georgia since 1998, and obtained its banking license in 2013. FINCA Bank Georgia also provides a range of retail banking solutions. In 2021 FINCA Bank Georgia was acquired by Credo Bank.

Performance

In 2020, JSC "FINCA Bank Georgia" achieved the position of 13th largest bank in Georgia with a market share of 0.40%; its total assets grew by 3.00%.

Additionally, the bank became the 12th profitable bank in relation to its total assets showcasing 0.24% return on assets in 2020.

Also the lender held the 2nd position regarging its loans-to-deposits (L/D) registering 99.09% L/D ratio in 2020.

Deposit Protection

Deposits up to 15,000 GEL are covered by Georgian deposit guarantee scheme in JSC "FINCA Bank Georgia".

Services

SME banking
retail banking

Clients

natural persons
SMEs

Area Served

GEGeorgia

Products

current accounts
debit cards
credit cards
savings accounts
time deposit accounts
children deposit accounts
consumer loans
business loans
agro loans
business overdraft loans

Account Currencies

GEGEL (Georgian lari)
EUEUR (Euro)
USUSD (US dollar)

Card Providers

Visa

See Also

Ways to Bank

JSC "FINCA Bank Georgia" delivered its products and services through both direct and indirect channels, namely:
JSC
branch branch
online banking online banking
mobile app mobile app

Financials

Total Assets of JSC
Net_income of JSC
Market Share of JSC
Total Assets (2020)
287.70 mln GEL   (+3.00%)
Net Income (2020)
569,318.00 GEL   (-91.62%)

JSC "FINCA Bank Georgia" was the 13th largest bank in Georgia in terms of total assets. In 2020 its total assets were 287,70 mln GEL, providing the bank with the market share of 0.40%. In 2020 the bank's net income was 569 318,00 GEL.

Deposit Guarantee

Guarantee Fund
Deposit Insurance Agency of Georgia (DIAG)Deposit Insurance Agency of Georgia (DIAG)
Protected Amount
up to 15,000 GEL
Eligible Depositors
natural persons (residents and non-residents)
Covered Accounts
all types of deposits

JSC "FINCA Bank Georgia" participates in the deposit guarantee scheme of Georgia which applies to all types of deposits made by natural persons (residents and non-residents) and covers up to up to 15,000 GEL per bank per depositor. JSC "FINCA Bank Georgia" is a member of Deposit Insurance Agency of Georgia (DIAG) and makes its contributions into it.

See Also

Contacts

address#71, Vazha-Pshavela avenue, 0181, Tbilisi, Georgia
phone(995 32) 2 20 74 10
fax(995 32) 2 20 74 13
websitehttps://www.finca.ge
Website Languages
GEGeorgian
GBEnglish

JSC "FINCA Bank Georgia" was headquartered in Tbilisi.

Social Networks

JSC "FINCA Bank Georgia" has profiles at the following social networks:

Bank Identifiers

BIC (SWIFT)
FGEOGE22

Bank Supervision

Supervised By
National Bank of Georgia

JSC "FINCA Bank Georgia" was authorized and supervised by the National Bank of Georgia.

Bank History

Start Date
06 August 2013
Close Date
22 June 2021

Business Summary

Services
SME banking
retail banking
Products
current accounts
debit cards
credit cards
savings accounts
time deposit accounts
children deposit accounts
consumer loans
business loans
agro loans
business overdraft loans
Clients
natural persons
SMEs
Area Served
GEGeorgia
Account Currencies
GEGEL
EUEUR
USUSD
Card Providers
VisaVisa

JSC "FINCA Bank Georgia" provides products and services in the areas of SME banking, retail banking. JSC "FINCA Bank Georgia" offers a range of products including current accounts, debit cards, credit cards, savings accounts, time deposit accounts, children deposit accounts, consumer loans, business loans, agro loans, business overdraft loans. JSC "FINCA Bank Georgia" offers several money transfer options including Western Union, MoneyGram, Contact, Unistream, Zolotaya Korona, UPT, Intel Express, Ria. JSC "FINCA Bank Georgia" makes its solutions available to natural persons, SMEs.

Ways to Bank

Business Channels
branch branch
online banking online banking
mobile app mobile app

Products and services offered by JSC "FINCA Bank Georgia" are available at its branches and via its online banking system, mobile application.

Balance Sheet

Total Assets (2020)
287.70 mln GEL   (+3.00%)

In 2020 total assets of JSC "FINCA Bank Georgia" were 287.70 mln GEL. Growth compared to the previous period (2019) was 3.00%. The evolution of the total assets of JSC "FINCA Bank Georgia" is shown at Chart 1 below.

Total Assets of JSC

Chart 1. Total Assets of JSC "FINCA Bank Georgia".

Recent changes in total assets of JSC "FINCA Bank Georgia" and its main components are shown in Table 1.

2019 2020 change (%)
Loans to customers 201.4 194.5 -3.44%
Total Assets 279.3 287.7 +3.00%

Table 1. Recent changes in total assets of JSC "FINCA Bank Georgia" (mln GEL).

Recent changes in total liabilities of JSC "FINCA Bank Georgia" and its main components are shown in Table 2.

2019 2020 change (%)
Bank deposits 15.0 29.6 +97.12%
Customer deposits 169.1 166.7 -1.46%
Total Liabilities 279.3 287.7 +3.00%

Table 2. Recent changes in total liabilities of JSC "FINCA Bank Georgia" (mln GEL).

Income Statement

Net Income (2020)
569,318.00 GEL   (-91.62%)

Recent changes in gross profit of JSC "FINCA Bank Georgia" and its main components are shown in Table 3.

2019 2020 change (%)
Interest Income 60.4 55.3 -8.57%
Interest Charges -23.5 -21.0 -10.62%
Commission Income 2.5 2.2 -9.32%
Commission Charges -0.1 -0.1 +6.26%

Table 3. Recent changes in gross profit of JSC "FINCA Bank Georgia" (mln GEL).

In 2020 net income of JSC "FINCA Bank Georgia" was 569,318.00 GEL. Decline compared to the previous period (2019) was -91.62%. The evolution of the net income of JSC "FINCA Bank Georgia" is shown at Chart 2 below.

Net Income of JSC

Chart 2. Net Income of JSC "FINCA Bank Georgia".

Market Share and Rank (among banks in Georgia)

Total Assets (2020)
13th (market share 0.40%)

In 2020 JSC "FINCA Bank Georgia" was ranked the 13th largest bank in Georgiain terms of total assets, having 0.40% of the domestic market share.

Market share of JSC

Chart 3. Market share of JSC "FINCA Bank Georgia" (among banks in Georgia)

Historical changes in JSC "FINCA Bank Georgia"'s domestic rank and market share over 2018-2020 are shown below:

YearRankMarket %
2020130.40 %
2019120.57 %
2018120.72 %

TheBanks.eu identified several banks banks having the market shares and ranks closest to JSC "FINCA Bank Georgia" listed below.

RankNameMarket %Total Assets
12 JSC "Isbank Georgia"0.58%469.91 mln GEL   (+12.78%)
13 JSC "FINCA Bank Georgia"0.40%287.70 mln GEL   (+3.00%)
14 JSC "Ziraat Bank Georgia"0.25%206.55 mln GEL   (+6.68%)

Identifiers of JSC "FINCA Bank Georgia"

Discover key identifiers of JSC "FINCA Bank Georgia" including its BIC.

BIC (Business Identifier Code)

BIC: FGEOGE22

The BIC (also known as SWIFT code) for JSC "FINCA Bank Georgia" is FGEOGE22. It is used in financial transactions like cross-border and SEPA payments, and helps identify the bank in global banking systems.

KeyValue
BIC FGEOGE22
Bank BIC Code FGEO
Country Code GE (Georgia)
Location Code 22
Branch Code -

Banks Similar to JSC "FINCA Bank Georgia"

TheBanks.eu identified several banks similar to JSC "FINCA Bank Georgia" based on various criteria, including:

  • country of incorporation
  • bank category
  • business focus
  • originating country
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Commercial banks
Business Focus
retail and business banking
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corporate banking
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