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Government to Write off about 1.5 billion GEL Debts of Georgian Citizens

On November 19 Prime Minister of Georgia Mamuka Bakhtadze held a news conference and announced government plans for writing off debts of about 600 000 citizens of Georgia that they owe to finance institutions. Bakhtadze made the statement before the government meeting,. “We have conducted long and hard negotiations with …

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The National Bank Of Georgia Became The Associate Member of IOSCO

NBG

For the National Bank of Georgia membership of the International Organization for Securities Commissions (IOSCO) is a significant step forward in terms of capital market development. International Organisation of Securities Commissions is an association of organisations that regulate the world’s securities and futures markets. Members are typically primary securities and/or …

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Global Finance Magazine Names TBC as Best Foreign Exchange Provider of Georgia

TBC Bank has been named the Best Foreign Exchange Provider 2019 in Georgia by Global Finance Magazine. The winners were chosen based on extensive criteria including transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies. “We are honored to receive this prestigious award from …

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Finance Sector Regulations Postponed for 2019

NBG Reduces Its Policy Rate By 25 Basis Points To 6.75%

According to BM.Ge information, the finance sector regulations will take effect on January 1, 2019. The regulations were to come into force on November 1, 2018. After consultations with the finance sector, the National Bank of Georgia (NBG) postponed the enforcement date for November 15, however, according to the last …

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Volume of Dollar-denominated Deposits Increased

In the third quarter of 2018 the volume of foreign currency  deposits amounts to 14.4 billion in the banking sector, including 83% (12 billion) denominated  in the US dollars. A volume of demand deposits (including current accounts) totals GEL 6 billion in the dollar-denominated deposits  (total 7.461 billion). The volume …

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Liberty Started New Social Project with National Library

Since November 1, Liberty has launched a new social project, according to which 60-year-old +  pensioners will take a one-month course of computer and internet use. This program enables older generation to study computer and internet and be more integrated into modern life. Course participants will be able to study …

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TBC Bank bought BONACO MFO

TBC Bank has bought assets and liabilities of BONACO MFO. According to the Ntional Bank of Georgia (NBG), the portfolio was purchased  via the auction held on October 29. After the signing of the relevant agreement, JSC TBC Bank will provide uninterrupted service of creditors and debtors of microfinance organization …

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National Bank: New Regulations will not Take Effect on November 1

New regulations proposed by the National Bank of Georgia (NBG) will not take effect on November 1, the NBG officials told BM.GE. At this stage, the central bank is discussing technical details to determine the new date for enforcing the new instructions on retail crediting. At the same time, the …

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Georgian Posts Signs Cooperation Agreement with TBC Bank

Georgian Post Customers will be able to receive TBC Bank’s products and services at all service centers across Georgia. The general directors of the companies discussed the details of the cooperation on 24 October at the press conference held at the hotel “Tbilisi Marriott”. Within the framework of cooperation, Georgian …

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