Japanese social impact holding Gojo & Company, Inc. has acquired a 16.8% stake in Credo Bank, marking its first investment in Georgia. This transaction, initiated a year ago, is expected to bolster Credo Bank’s efforts to support entrepreneurs and their employees by offering accessible financial services.

Credo Bank’s ownership structure includes Germany’s microfinance holding Access Credo GmbH, investment funds managed by the Netherlands-based Triodos Investment Management BV, and France’s development finance institution Proparco (Groupe Agence Française de Développement).

Zaza Pirtskhelava, CEO of Credo Bank, commented: “I welcome Gojo & Company, Inc. as our new shareholder. Their involvement will significantly enhance Credo Bank’s position and reinforce our mission to provide sustainable financial services to micro, small, and medium-sized enterprises, particularly through digital and innovative products. This transaction reflects our shareholders’ confidence in the bank’s potential as a platform for future growth while fostering financial inclusion, positive environmental impact, and economic development in Georgia.”

Taejun Shin, Founder and CEO of Gojo & Company, Inc., stated: “We are delighted to partner with Credo Bank to advance our shared mission of expanding financial inclusion globally. Credo Bank plays a pivotal role in providing financial services across Georgia’s regions, and we look forward to supporting its continued growth and development.”

Natia Turnava, Acting Governor of the National Bank of Georgia, remarked: “This is an unprecedented Japanese investment in Georgia’s banking sector. It highlights the trust and stability within our banking system. The entry of international investors will positively influence the investment climate, promote market diversification, enhance accessibility to banking products, and increase competition. Our financial sector is functioning effectively, serving the economy, and this investment underscores its robustness.”

Gojo & Company, Inc., headquartered in Tokyo, unites companies that provide inclusive financial services in 13 countries across Asia and Africa. Founded in 2014 to promote global financial inclusion, the Gojo Group served over 2.4 million customers as of March 2024, with a workforce exceeding 10,000 employees.

Credo Bank, Georgia’s fifth-largest commercial bank, serves over 480,000 customers nationwide through 94 service centers. Its mission is to empower Georgian entrepreneurs and their employees to build a better future by offering affordable financial solutions.