According to the order of the President of the National Bank of Georgia the minimum supervisory capital requirement for the existing commercial banks will be increased to 50 mil GEL before the end of year 2018.
According to the CEO of FINCA Bank Georgia, Mr. Vusal Verdiyev – “The compliance with the new supervisory capital requirement will be ensured, the same way as with other regulatory requirements up to now”. FINCA Bank Georgia and its International shareholders are ready to comply with the new regulations of the National Bank of Georgia.
FINCA Bank Georgia is a Joint Stock Company built on the platform developed for over 18 years of operations in the country. FINCA Bank Georgia is a well-capitalized, stable financial institution with strong international presence as it is a part of Global network of financial institutions indirectly owned by FINCA Microfinance Holdings (FMH), a group comprised of shareholders such as FINCA International, USA, International Financial Corporation (IFC, World Bank Group)- USA, KfW Bankengruppe, the German development bank, FMO, the Netherlands development bank, responsAbility Global Microfinance Fund, an investment fund advised by the Zurich-based asset manager responsAbility Social Investments AG, and Triple Jump, a Netherlands-based microfinance investment manager.
All banking services and products have been successfully launched since 2013 (when banking licence was received), and now FINCA bank renders full financial services to more than 100 000 customers in all regions of the country. It should be mentioned, that new innovative banking products and services, including distance channels will be developed and launched in 2017 to increase outreach and access to financial products in the country.