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It’s Time To Transform Commercial Banks into Investment Banks in Georgia

“It’s right time to transform commercial banks into investment ones in Georgia,”President’s economic advisor, told the Business Contact.

Maia Melikidze has evaluated the acquisition of Bank Republic and stated that market still remains two large players such as TBC and Bank of Georgia. As for her for the better growth of the country, the development of investment banks is important.

“The main positive fact in acquisition of Bank of Republic is that, Societe Generale as an independent institution will be formed under TBC bank and become Investment bank. This is a very good decision, because it is time to transform commercial banks into investment ones. For the progress of Georgian economy, such changes have vital significance. At the same time Bank of Georgia has received funding from EuroBank to finance small and medium enterprises. These banks are making great contribution in Georgian economy”.