Since 2014, Triodos Investment Management has been a shareholder in Credo Bank through its Triodos Microfinance Fund and Triodos Fair Share Fund – with an active role at board level. Credo Bank ranks as the fifth-largest commercial bank in Georgia, serving over 480,000 customers through an extensive network of 94 service centres. Dedicated to fostering sustainable economic growth, Credo Bank focuses on empowering micro, small and medium-sized entrepreneurs with accessible and innovative financial solutions. 

Caspar Sprokel, Head of Private Equity at Triodos Investment Management: "Throughout our decade-long journey with Credo Bank, we have witnessed their unwavering commitment to providing a comprehensive range of financial services to underserved communities in Georgia. It has been an exciting journey, as Credo Bank transformed from a credit-only institution into a fully-fledged bank. We believe this is the right time for us to step back, and we are confident that Gojo will bring valuable expertise to further enhance the sustainable growth and development of Credo Bank."

“Additional equity investment from Gojo will further support Credo Bank's mission to provide sustainable financial services to micro, small, and medium-sized entrepreneurs, with a focus on digitalisation and innovative product delivery. We also extend our sincere gratitude to Triodos Investment Management for their support, which has been key to our growth, and we look forward to building on this foundation as we enter the next phase," says Zaza Pirtskhelava, Chief Executive Officer of Credo Bank

Arnaud Ventura, Managing Partner at Gojo: “We are honoured to build upon Triodos’ legacy and continue Credo’s journey under our stewardship. This strategic acquisition reflects our confidence in Credo’s team and their commitment to financial inclusion in Georgia. We look forward to collaborating closely with the Credo team to further expand its impact.”

For more information, please refer to the press release by Gojo.