The Fitch rating for the Georgian bank sector is “Stable”. This signifies considerable reserves of commercial banks will compensate the quality of assets affected by the GEL depreciation.
The 36% devaluation was the main challenge in 2015. The bank sector has showed steadiness amid the GEL depreciation, GDP growth slowdown and a demand contraction in exports markets. The Georgian bank sector has maintained positive indicators.
Alex Matua director of Procredit Bank Georgia reviews the banking sector performance in 2015.
We have partly fulfilled our plans in 2015, excluding the parts that was affected by the current economic realities. This factor has slightly changed our plans and affected our revenues.
“Two main factors have influenced our business activity: the GEL devaluation and the slowdown in sales. We had not frustration in terms of activities, products and services. The bank widely introduced the 24/7 service. In August we introduced money lodgment service,”Matua said.
We have continued active crediting of the small business and we have serious growth in the sector in this direction.
The bank has ambitious plans in 2016 too, especially for our target groups – small and medium business sectors. We plan to offer convenient and comfortable services adapted to their interests. There are all preconditions that business companies expand their activities.
ProCredit Bank has introduced a new model of management – flat management, after the bank’s director general Asmus Rotne left the company in December. He plans to stay in the Georgian business sector.