Microfinance organizations (MFOs) finished 2024 with growth. MFO's net profit made up GEL 133.6 million and the sector issued over GEL 2 billion in loans.
By the end of 2024, the sector was represented by 31 MFOs, their number decreased by 3 compared to 2023. It should be noted that in 2025, two more large organizations will leave the market, which will continue operating with microbank status.
It's noteworthy that MFOs' net profit increased by GEL 8.2 million or 6.6% year-over-year, exceeding 133.6 million. From last year's profit, the sector also paid GEL 33.5 million in profit tax to the budget.
Over the last year, the loan portfolio increased by 267 million GEL and exceeded 1.970 billion GEL. The largest share - 1.95 billion GEL accounts for individual lending. The trend hasn't changed in 2024 either, and more than half of the loans - 1.1 billion GEL is held by pawnshop loans.
Microfinance Organizations' Loan Portfolio / 2024
Pawnshop - 1.101 billion GEL
Consumer loans - 509.5 million GEL
Trade/Services - 176.9 million GEL
Agriculture - 119.1 million GEL
Legal entities - 19.7 million
MFOs issued loans to 889,760 individuals and 676 legal entities.
