MBC – The First Microbank in Georgia

Microfinance organization MBC has received a microbank license from the National Bank of Georgia. The company is entering a new stage of development and will soon offer its customers comprehensive banking services.

MBC is the first microfinance organization in the Georgian market to apply to the National Bank for a microbank license. With this license, MBC's loan limit will increase from 100,000 GEL to 1 million GEL. Furthermore, the company is now authorized to attract deposits, open current accounts, and provide other banking services.

According to MBC's CEO, Gia Petriashvili, Microbank MBC's primary focus will be lending to small and medium-sized enterprises (SMEs).

Gia Petriashvili, CEO of MBC:

"First and foremost, I would like to thank the National Bank of Georgia for their hard work. The past year has been full of challenges, and I am thrilled that our efforts have paid off today. MBC is the first organization in Georgia to receive a positive response from the National Bank regarding its microbank license application. We plan to work actively to ensure greater access to financing for entrepreneurs by offering SMEs accessible, relevant products tailored to their specific interests."

Petriashvili also announced that Microbank MBC plans to be highly active in the deposit market, with new offers rolling out for customers very soon. "MBC is just as reliable as any commercial bank because it complies with the exact same regulations and requirements. At MBC, customers will be able to earn higher returns on their deposits without taking on any more risk than they did before," he stated.

As a reminder, MBC has been operating in the Georgian financial market since 2013. The company owns 17 service centers nationwide, and its loan portfolio reaches 116 million GEL. MBC currently employs approximately 250 people.

The Law on Microbanks was adopted by the Parliament of Georgia in 2023. Initiated by the National Bank of Georgia, the legislation aims to boost market competition and ensure greater access to financing for micro and small entrepreneurs.