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VTB Bank Improves Market Positions

VTB Bank Improves Market Positions

In January-November 2017, VTB Bank ranks fourth in terms of assets, with a 4.5% ratio. The bank is fourth in terms of deposits, with a 4.8% ratio, while the crediting portfolio makes the bank fifth on the market with a 4.5% ratio. VTB Bank’s profits have increased by 5.6 year …

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Bank of Georgia has Received a New Credit Line From EBRD

Bank of Georgia has attracted a new credit line from EBRD. It’s 135 million GEL credit line, which is valid for 5 years. This is the second transaction that the bank received from the European Bank for Reconstruction and Development since May 2016. Like the first tranche, the sum will …

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Commercial Banks Lower Deposits Interest Rate

Commercial Banks Lower Deposits Interest Rate

Key players on the retail deposits market have lowered deposits interest rates. TBC Bank and Bank of Georgia with 75% ratio on the market (4.4+3.7 billion) have reduced the annual interest rate to 9.4%. Liberty Bank (1.03 billion) cut the rate to 9% on Patriot deposit, while annual interest rate …

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NBG: Current Account Deficit Falls to Historical Bottom

“The current account deficit has seen one of the historical bottoms”, National Bank President Koba Gvenetadze noted. The current account deficit has dropped to 2.9% and this is a serious progress, he said. “For appraising the 2017 performance, economic experts need indicators of 3 other months. However, we can talk …

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PASHA Bank Funds Planting of 2018 Trees Within “Aghadgine” Campaign

PASHA Bank Funds Planting of 2018 Trees Within “Aghadgine” Campaign

As a New Year gift for its partners PASHA Bank will plant 2018 trees joining in the “Aghadgine” campaign that aims to recover the burnt territory of Borjomi forest. “In 2017 PASHA Bank initiated and participated in several environmental-friendly projects. Last year we congratulated our partners on New Year by …

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2018 – Year of Financial Education

lari

In 2018 Government of Georgia expects that the reforms will justify, while business sector and consumers expect their revenues to grow. At the same time, all social groups want that an inflow of investments rise in the country. The banking sector represents a cornerstone for everybody, because both corporate and …

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Assets of Commercial Banks Grow

NBG

As of December 1, 2017 the Georgian banking sector registers 16 commercial banks, including 15 ones with foreign capital in the authorized capital. According to the National Bank of Georgia (NBG), in November total assets of commercial banks of Georgia rose by 1.1 billion GEL (+3.2%) compared to October and …

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Fitch Upgrades Basisbank, Affirms Two Other Georgian Mid-Sized Banks

Fitch Ratings-Moscow/London-18 December 2017: Fitch Ratings has upgraded Basisbank’s (Basis) Long-Term Issuer Default Rating (IDR) to ‘B+’ from ‘B’ and affirmed Cartu Bank’s (Cartu) and Halyk Bank Georgia’s (HBG) IDRs at ‘B+’ and ‘BB-‘, respectively. Fitch has revised the Outlook on Cartu to Negative from Stable. The Outlooks on Basis …

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Terabank Aghmashenebeli Branch has Renewed

  According to the concept of the financial house, another branch of Terabank has been renewed. Terabank’s Aghmashenebeli branch moved to the new address on the opposite side of the Aghmashenebeli N148. The new concept of Terabank includes the creation of an environment where costumers feel themselves at their ”financial …

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