According to the National Bank of Georgia, there are a total of 37 microfinance organizations operating in Georgia. The total value of their assets, according to the consolidated report, which earned a net profit of GEL 81.2 million in 9M2022. As of the document, one organization "Rico Credit" generates more than half of the sector's net profit (GEL43 million). Swiss Capital ranks on second place with GEL 9.5 million, while MFO Intelexpres occupies the third position with GEL 4.4 million.
Rico Express is the number one market player not only in terms of net profit, but also in terms of assets (GEL 522 million) and credit portfolio (GEL 420 million).
TOP 10 of MFOs by Net Profit:
1. Rico Express - GEL 43.4 million;
2. Swiss Capital - GEL 9.5 million;
3. MFO Intelexpress - GEL 4.4 million;
4. Smart Finance - GEL 4.3 million;
5. Bermel - GEL 3.6 million;
6. Leader Credit - GEL 3.5 million;
7. Crystal - GEL 2.9 million;
8. Creditservice+ - GEL 2.9 million;
9. Lazika Capital - GEL 0.2 million;
10. Micro Business Capital - GEL 0.1 million.
According to the statistics of the National Bank, the total assets of 37 MFOs operating in the country amount to GEL 1.8 billion. Compared to the previous year, this amount is GEL 200 million more. As for the credit portfolio of MFOs, it amounts to GEL 1.5 billion, which is also GEL 190 million more than the previous year.
Ranking of the largest MFO by size of assets:
1. Rico Express - GEL 522 million;
2. Crystal - GEL 433 million;
3. Swiss Capital - GEL 172 million;
4. Micro Business Capital - GEL 97 million;
5. Leader Credit - GEL 81 million;
6. Lazika Capital - GEL 78 million;
7. Smart Finance - GEL 74 million;
8. MFO Intelexpress - GEL 52 million;
9. Creditservice+ - GEL 41 million;
10. Bermel - GEL 30 million.
