On December 5, 2024, the National Bank of Georgia (NBG) issued the first-ever microbank license to JSC "Micro Business Capital" (MBC). The license was granted in accordance with the microbank licensing framework. 

According to Natia Turnava, Acting Governor of the National Bank of Georgia, the introduction of microbanks is a step forward in enhancing competition within the Georgian financial sector, aligning with the NBG’s 2023-2025 Supervisory Strategy. She emphasized that this development offers a great opportunity to expand the range of banking products available to microbusinesses, serve primarily small borrowers, and increase competition in the banking sector.

“This initiative provides an excellent opportunity to offer a wider range of banking products to microbusinesses, serve primarily small borrowers, and promote greater competition in the banking sector,” said Turnava. “At the same time, it creates new prospects for microfinance organizations aiming to evolve, secure additional funding, and transition to a more advanced stage.” 

 

Before obtaining the microbank license, JSC “Micro Business Capital” operated under a microfinance organization license, focusing on financing small entrepreneurs. Now, as a microbank, MBC plans to intensify its support for small businesses, introduce new financial products to the market, and enhance its competitiveness. Furthermore, by participating in the real-time gross settlement system (RTGS), MBC aims to solidify its position as a key player in the financial sector. 

The emergence of microbanks as a new category of financial institutions is expected to elevate competition in Georgia's financial sector to a higher level. This development is seen as a positive step, benefiting both the financial industry and the broader economy.