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National Bank Simplifies Crediting Procedures for Physical Bodies

National Bank: Impact of External Shocks Decline

Clients to Get Services of Revenue Service and Public Registry under Single-window Principle at Commercial Banks. A joint project by National Bank of Georgia (NBG), Government and Revenue Service ensures an exchange of information on borrowers. The document  will come into force in October 2018. According to the NBG, for …

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National Bank to Enforce New Loan Regulations Ahead of Schedule

Revised loan coefficients will be specified at the next meeting of National Bank of Georgia on November 21. Under new regulations, borrowers are to have higher salaries for taking loans. Monthly Net Incomes in GEL Loan Service Coefficient – Maximum Indicator for Nonhedged Borrowers Lona Service Coefficient – Maximum indicator …

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Credit Growth Stood at 19.1% YOY in August

The total bank loan portfolio increased by 19.1% YoY in August 2018, excluding FX effect. From the segments perspective, retail, SME and corporate loans increased by 19.1%, 20.8% and 18.1% YoY, respectively. Growth of retail loans was mostly driven by mortgages, which went up by 34.7% YoY, while non-mortgage loan …

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Murtaz Kikoria Resigns from National Bank of Georgia

Member of the Board of the National Bank of Georgia, Vice-Governor Murtaz Kikoria has just resigned from the office. Mr. Murtaz Kikoria served as the Chief Executive Officer of JSC Bank of Georgia from September 2015 to September 7, 2016. Mr. Kikoria served as Deputy Chief Financial Officer of Finance …

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TBC Appointed New Directors

Maria Luiza Kikonian and Tsira Kemularia were appointed as independent non-executive directors of TBC. In addition, both of them became member of the Bank’s Supervisory Board. Maria Luiza Kikonian has experience in working with various financial institutions, including  at Merrill Lynch, Azimut, Mediobanca, and European Bank for Reconstruction and Development. …

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Competition on Banking Market Shrinks Year to Year

The banking sector is the key and biggest segment in Georgian economy. Despite commercial banks are considered as locomotives of the state economy, criticism against crediting institutions has been growing over the past years. Georgian citizens express complaint in many directions, including against expensive credits, high commission fees and fines, …

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ADB Named TBC as the Leading Partner Bank in Georgia in Trade Finance

TBC Bank has been named as the leading partner bank in Georgia for the fourth time by Asian Development Bank in trade finance. The awards ceremony was held in Singapore and attended by about 200 representatives of banks and financial institutions of 15 countries. Asian Development Bank has identified 23 …

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How Loan Interest Rates Change

In July 2018 the averaged market interest rate on loans made up 12.7%. The rate was the same – 12.7% in May-June period too. The rate has declined by 0.1% year on year. Averaged interest rate on GEL-denominated loans is 15.8%, including GEL-denominated corporate loans – 11.3% and GEL-denominated retail …

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