BGEO Group PLC (the “Group” or “BGEO”), announces that the Group’s property and casualty insurance subsidiary, JSC Aldagi (“Aldagi” or the “Company”), has signed a three-year partnership agreement with JSC Credo Bank (“Credo Bank” or the “Bank”). Credo Bank was originally established as a microfinance organisation in 2007 and obtained a banking license in March 2017. Credo Bank has a wide network of branches across Georgia and provides financial services to micro, small and medium-sized businesses, with specific expertise in providing financial services to rural customers. As part of the partnership agreement, Aldagi will have rights to offer its retail insurance products to the Bank’s clients, in exchange for a commission fee based on the premium of each underwritten insurance policy. The partnership agreement marks a continuation of an already established successful relationship between Aldagi and Credo Bank.
