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Exclusive: Aleksandre Chochia to Manage Capital Bank

Privatbank’s Former Shareholder and Director to Manage Capital Bank Aleksandre Chochia, the Privatbank’s former shareholder (1.1%) and director, will manage Capital Bank.

The incumbent director Lasha Khoperia was appointed on the position in spring 2014 after former stakeholders Gabrielashvili/Aleksidze withdrew from the structure and Aleksandre Kurtanidze became a 70% stakeholder.

The former Investbank was moved to a rehabilitation regime several months ago. Before April 1, 2014 the bank was managed by the National Bank’s interim management for 5 months because the bank had ignored supervisory norms.

The NBG interim management entered the bank in November 2013 too, as the bank lacked for liquid assets. Investbank launched operation in 2003. The bank’s stakeholders were: London International Bank Ltd (20.8%), Allied Partners Investments Limited (72.68%), Buadze Enterprises Ltd (6.52%). Joseph Kay was an indirect holder of 93.49% stake. The bank’s structure was changed several times.