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Terabank Second Mid-Lottery Winner Revealed


In the mid-lottery of Terabank loans and deposits, the winner has been revealed. Nestan Kvataia became the owner of automobile present package. It includes: a tone of fuel, 100 GEL automobile service, a year washing service, video recorder and espresso travel appliance.  “I’m astonished with my prizes and now I …

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TBC Bank Simplifies Installment Payment Mechanism and Introduces New Product


TBC Bank has simplified installment payment plan and introduced new loyalty program and plastic card – Ertguli. The new product offers the simplest installment payment plan and loyalty scores. Ertguli installment plan is applicable within preliminarily-agreed credit limit when making payments by Terminal at partner trade outlets. “Previously, our clients …

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Vladimer Gurgenidze to Continue Working at Liberty Bank up to 2020


Vladimer Gurgenidze plans to continue working on the position of a chairman of Liberty Bank supervisory board. Liberty Bank director general has already applied to the stakeholders to extend the contract to Vladimer Gurgenize up to December 31, 2019. The stakeholders will pass the decision on May 15. The current …

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Preferential Business Sectors for Commercial Banks


Bank sector is of crucial importance for economic and financial stability of the country. Commercial banks represent functional mediators between those saving money and borrowers. Owners of excessive money resources offer their resources to financial mediators, while the latter chain offers these money resources to potential investors. Various physical and …

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EBRD to Issue New GEL-denominated Securities


European Bank for Reconstruction and Development (EBRD) plans to issue GEL-denominated securities of several tens of millions of GEL with the aim to credit exports products manufacturing and to develop domestic capital market through Georgia-based commercial banks as part of deep and comprehensive trade agreement with EU. This issue and …

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Bank Republic Becomes Larger After Acquisition


TBC Bank and Bank Republic amalgamation process has come to a finish-line. Bank Republic cards are replaced by TBC Bank cards. IN his interview for Business Course, Nikoloz Kurdiani, TBC Bank deputy director general talks about the details. -Mr. Nikoloz, when will this process end and what technical issues should …

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Larization Policy Makes Interest Rates more Expensive


According to the February indicators of National Bank of Georgia (NBG), interest rate on GEL-denominated loans rose by 2.8% to 20.9%, including 11.9% GEL-denominated loans are available for legal entities, while physical bodies have to pay 24% interest rate for GEL-denominated loans. It should be noted the rise of GEL-denominated …

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