Tbilisi (GBC) - MFO Crystal finished 2024 with a profit of 21 million GEL, of which the profit of 3Q amounts to 5.6 million GEL.
In the last quarter of the reporting year, MFO's interest income increased by more than 30 million.
The credit portfolio exceeded half a billion. Crystal's portfolio is mainly represented by retail loans, including loans to individuals for business financing.
MFO's income from agro-sector lending is up to 16.8 million GEL (Q3/2024 - 12.4 million) and from financing the trade and service sector is up to 22 million GEL (Q3/2024 - 16,162,503).
The largest amount, up to 65.2 million GEL, is from consumer lending. (Q3/2024 - 47,834,822).
Crystal is ready for transformation into a bank, awaiting a license from the National Bank of Georgia.
The main requirement for transforming into a microbank was lending to real businesses, which only 2-3 out of 33 MFOs meet, and Crystal is one of them (MBC has already received a banking license). The remaining organizations are mainly pawnshops, including the largest pawnshop - Rico.
|
2024 |
GEL Q3.2024 |
Assets |
573,885,583 |
545,379,028 |
Loans |
514,043,291 |
483,006,690 |
Interest Income |
125,548,760 |
92,717,852 |
Penalties and Fines |
6,138,397 |
4,338,943 |
Net Profit |
21,073,985 |
15,474,807 |
(BRG)