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.
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.
Deposits up to 15,000 GEL are covered by Georgian deposit guarantee scheme in JSC "FINCA Bank Georgia".
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.
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.
JSC "FINCA Bank Georgia" was headquartered in Tbilisi.
JSC "FINCA Bank Georgia" has profiles at the following social networks:
JSC "FINCA Bank Georgia" was authorized and supervised by the National Bank of Georgia.
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.
Products and services offered by JSC "FINCA Bank Georgia" are available at its branches and via its online banking system, mobile application.
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.
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).
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.
Chart 2. Net Income of JSC "FINCA Bank Georgia".
Discover key identifiers of JSC "FINCA Bank Georgia" including its BIC.
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.
Key | Value |
---|---|
BIC | FGEOGE22 |
Bank BIC Code | FGEO |
Country Code | GE (Georgia) |
Location Code | 22 |
Branch Code | - |
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