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Monthly Archives: September 2017

Total Assets of Georgian Commercial Banks Increased by 1.0 Billion GEL

National Bank: Impact of External Shocks Decline

As of September 1, 2017, the banking sector in Georgia is represented by 16 commercial banks, including 15 foreign-controlled banks. In August 2017, compared to the previous month, the total assets of Georgian commercial banks increased (in current prices) by 1.0 billion GEL (or by 3.2 percent) and constituted 31.5 …

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Current Condition Of Commercial Banks’ Loan Portfolio

The volume of lending by commercial banks (including loans to non-residents; excluding Credo Bank) in August 2017 increased by 183.7 million GEL or by 1.0 percent compared to the previous month (exchange rate effect excluded volume of lending increased by 0.3 percent) and constituted 19.2 billion GEL by September 1, …

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Current Tendencies Of Bank Deposits

The total volume of non-bank deposits in the country’s banking sector increased by 5.0 percent (exchange rate effect excluded volume of deposits increased by 4.2 percent), or by 840.7 million GEL, compared to August 1, 2017 and reached 17.8 billion GEL by September 1, 2017. In August, the volume of …

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Business Sector Appraises Changes in Tender Regulations

“Foreign companies win state tenders, but everybody knows very well that the works are performed by Georgian companies anyway”, Caucasus Road Project head Paata Trapaidze told Business Course. Referring to this and similar other cases he aims to prove that setting preferences is a timely and right decision for Georgian …

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Changes in Bank of Georgia and BGEO Management

Changes have taken place in the management of Bank of Georgia and BGEO. Namely, David Tsiklauri was appointed a deputy director general of Bank of Georgia with focus on financial direction, Levan Kulijanashvili – deputy director general with focus on operational direction and Vasil Khodeli – deputy director general with …

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Promoting Land Border Management between Azerbaijan and Georgia

The European Union (EU), United Nations Development Programme (UNDP) and the Governments of Azerbaijan and Georgia summarised the results of a three-year initiative which aimed to enhance land border protection between Azerbaijan and Georgia. Theclosing conference of the programme in Tbilisi on September 25, 2017, brought together top officials of …

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14 Companies Present Proposals for Georgia’s Gas Storage Facility

14 Companies Present Proposals for Georgia’s Gas Storage Facility

14 companies have expressed willingness to build underground gas storage in Georgia. According to “Georgian Oil and Gas Corporation”, 55 companies have been registered at the pre-qualification stage of open international tender for procurement of installation and exploitation (EPIC) works, however proposals were presented by 14 companies. As a result …

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Georgia and Azerbaijan to Set up Joint Company

Georgian Railway and Azerbaijan railway company plan to establish a joint company, according to S&P Global Ratings. The joint company will operate in the Georgian section of Baku-Tbilisi-Karsi railroad.  At the same time, the rating company has revised Georgian Railway rating and lowered it to the Outlook of Negative from …

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Georgian Technical University Signs Cooperation Agreement with Croatian Engineering Company Institute IGH

Georgian Technical University Signs Cooperation Agreement with Croatian Engineering Company Institute IGH

Croatian Engineering Company IGH is interested in widening its’ sphere of activities in Georgia;  Mr. Paladina and Board member Mr. Oliver Kumrić are currently conducting meetings regarding future cooperation in the Georgian Regional Development and Infrastructure Ministry, Georgian Environmental Protection and Natural Resources Protection Ministry, “Georgian Amelioration” and “Georgian Railway”, with the …

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Pricing Policy of Hotel Business in Georgia

In her interview for the Business Morning, Nino Rukhadze, Regional PR & Marketing Director for Cushman & Wakefield Georgia, talks about from which countries international visitors arrive in Georgia, the purpose of their visits and hotel business development paces in Georgia. -Today both international and Georgian brands actively develop hotel …

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