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Banking Sector’s Record Profits

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According to National Bank of Georgia (NBG), in January profits of the banking sector made up 58.8 million GEL, up about three times compared to January 2016. The banking sector’s profits in January 2016 marked 20.1 million GEL, in January 2015 – 15.8 million GEL. The Georgian banking sector registers …

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Business Café Meets up For the 8th Time

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On February 22nd 8th meeting of Business Café took place at Holiday Inn Tbilisi. The get together was moderated by the businessman and entrepreneur – Guga Tsanava. The topic of the meeting was “Stanford Model of Management”. Business Café is a project initiated by consulting company “Insource”. Throughout 2015 and …

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Everyone Can Purchase Securities: Koba Gvenetadze

Koba Gvenetadze NBG

The president of National Bank, Koba Gvenetadze says that a lot of people think it is impossible to purchase securities and the system is not flexible enough. Today, on 22th of February, at the auction of state securities I bought one (1000 Gel) 5-year security. The process is simple: The …

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Build Your Life with Terabank

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From today on, Terabank is going to start a large scale lottery- Build your life with Terabank! The result of the lottery can be – renewed flat in Vake, 2016 automobile Toyota RAV4, salary of 2000 GEL and trip to any European country. The owner of everything mentioned above will …

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1130 out of 27 000 Credits are Converted in GEL

1130 out of 27 000 Credits are Converted in GEL

According to the President of National Bank of Georgia, 4.2% of loans are converted into GEL by this time. 1 130 (up to $40 000) out of 27 000 credits, with a volume of 14 million USD are converted into GEL. Koba Gvenetadze has declared on the advantage of larization …

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Khazaradze: Doing Business Secretly With Depositors’ Money is Not Right

Khazaradze: Doing Business Secretly With Depositors’ Money is Not Right

Doing business secretly with depositors’ money is not right; – founder of TBC Group declared on the risks caused by participation of banks in the non-core businesses, including interest conflicts with the clients. Mr. Mamuka  Khazaradze says that historically, non-core assets have been always separated from the balance of TBC …

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Levan Surguladze Awaits Revision of Depositors’ Money from the National Bank

Levan Surguladze Awaits Revision of Depositors’ Money from the National Bank

The member of Financial Supervisory Council of 2008-2009 estimates the 2nd wave of separation of non-core assets and regulatory risks of banking holding companies. Levan Surguladze believes that monetary policy and financial supervisor must be separated; as it does not regulate number of sectors, neither banking nor microfinance and there …

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Merely 3% of Beneficiaries have Converted loans into GEL

Merely 3% of Beneficiaries have Converted loans into GEL

Less than 2 months are remained before the end of larization campaign and merely 3% of beneficiaries have converted loans into GEL. The volume of loans converted into GEL is tripled through 25/01-9/02 and the rate is increased from 220 to 863. The activeness is grown after the meeting held …

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