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Mamuka Khazaradze: Competition Sharpens, Weak Players Leave Market or Merge with Others

“The market will regulate the quantity of commercial banks itself”, TBC Bank supervisory board chairman Mamuka Khazaradze told reporters.

Consolidation process is underway in all fields and this process is not of artificial character, Khazaradze said.

“Competition sharpens and weak players withdraw from the market or merge with other commercial banks. This is an ordinary process. Some of them will enlarge, others may sell the part of business. Any similar change is a valuable process of the market. The sector healthy reacts to the existing realities. This is an elementary market principle”, Mamuka Khazaradze said.