The head of Georgian Bank Association, Zurab Gvasalia declared that the consolidation of TBC bank and Bank Republic will have a positive influence on the customers, because the competition will rise.
As for the lari currency inflation recently, it is explained by a big market transaction and Gvasalia thinks that the only negative side of it was some “gossips” in the society.
“These kinds of processes have its positive and negative aspects. If we talk about a concrete transaction, the only negative side is that it caused some misunderstanding in the society. It will be changed and it will make a positive influence on the market and customers will definitely see it, because the bank will have an opportunity to serve corporative customers on a bigger scale. “
Besides, they will improve their positions with international donors and cooperation with financial institutions in terms of gaining more credits, which will serve Georgian economy. This will increase competition and in the increased competition, customer will get a benefit.
“The quality is the most important, because if big banks increase the quality, the smaller ones will be obliged to do the same. If bank rate will be decreased, they will have to adjust it and do the same”- declared Gvasalia.