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Silk Road Bank Seeking Investors

Silk Road Bank (BTA Bank) is seeking investors. A reliable source informs that the bank has no financial problems, but is trying to correct the situation by attracting new investment.

The bank does not confirm the information, however, says  that two weeks ago the bank dismissed 90 employees in Tbilisi to reduce costs.

According to Nino Darbazeli,  the head of  public relations at the Bank, minimized costs allowed to continue the bank’s full operation.

BTA Georgia, formerly Silk Road Bank, is a small-sized Georgian bank, which was established in 2000, and since 2005 has been affiliated with BTA. Last year, the Kazakh side sold its share in the bank and today 100% of the bank’s shares belong to  the Georgian Silk Road Group.

As per data for last year’s third quarter, the bank’s net profit exceeded  4 million and the share capital amounted  to 18 million.