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Daily Archives: June 13, 2017

International Bank of Azerbaijan to Optimize Branches

International Bank of Azerbaijan (IBAR) has announced plans for optimizing branches, based on BPM (Business Process Management) technological platform. By the end of 2017 all branches should be based on the new concept. The management of IBAR-Georgia does not know whether the regional network will be also included in the …

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Assets of Finance Corporations Grow

Assets of finance corporations have risen by annual 22% to 43.4 billion GEL. Ratio of commercial banks accounts for 70% (30.3 billion GEL). According to the new chart of National Bank of Georgia (NBG), annual growth in assets of corporations is around 21.22% (2016, 2015). NBG announced about additions to …

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BGEO Group Eurobonds Closed at 5.6% yield

According to Galt&Taggart Bank of Georgia GEL-denominated  Eurobonds (GEBGG) were  trading  at 100.5 , yielding 10.8%, which is decreased by 0.2% . BGEO Group shares closed at GBP 37.12/share (+0.57% w/w and +1.48% m/m). More than 450k shares traded in the range of GBP 35.51 – 37.22/share. Average  daily traded volume …

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The IMF Names Terms of Returning Georgia to the 5% Growth

The IMF Names Terms of Returning Georgia to the 5% Growth

Tao Zhang, Deputy Managing Director, IMF names terms of returning Georgia to the 5% growth. He made remarks at Tbilisi State University and noted that they see Georgia returning to the 5.5 percent growth after the recent downturn, but it would depend on several issues. “That will depend on the continuation …

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EU-Georgia Mobility Partnership Moves Towards Better Dialogue and Monitoring

The first meeting of the EU-Georgia Mobility Partnership Local Cooperation Platform took place on 9 June 2017 in Tbilisi. Representatives of EU Institutions, EU Member States, Georgian authorities and international organisations discussed the mechanisms for dialogue and for monitoring projects under the Joint Declaration on a Mobility Partnership between the …

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Georgia’s Debt to Kazakhstan has Decreased

Georgia's Debt to Kazakhstan has Decreased

Georgia’s debt to Kazakhstan has decreased. Dimitri Kumsishvili, Minister of Finance signed an agreement on restructuring Georgia’s debt to the Republic of Kazakhstan. According to it, the amount of Georgia’s debt is decreased from 27.77 million to 25.48 million USD. “Kazakhstan’s debt will be paid with the reached agreement with …

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Summer Resort Season 2017 – Novelties and Expectations

National Tourism Administration has been conducting marketing campaigns in 14 countries. The agency has already spent 7.5 million GEL on these campaigns and selected 8 internet platforms for conducting online advertising campaigns, including 4 Russian platforms. In April 2017 Giorgi Chogovadze, head of national tourism administration, noted that Google was …

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