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Country of Bank of Georgia

Country of Bank of Georgia

Noncore assets of commercial banks bring serious problems to the country. Specialists and business sector representatives stress that this environment kills valuable competition  and aggravates the situation for various businesses. Entrepreneurs frequently note that they have taken loans from major commercial banks. As a result, this or that bank has  …

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Chairman Irakli Gilauri Leaves Bank of Georgia

Irakli Gilauri

Within the division of BGEO, changes in the Bank’s Supervisory Board have already been officially registered. Irakli Gilauri moved to the Bank of Georgia’s Supervisory Board from September 2015, before that, he served as the General Director of “Bank of Georgia”from May 2006 to September 2015. Who will replace Gilauri …

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World Bank: Georgia Surpasses Many Countries in terms of Blockchain Technologies

World Bank (WB) is exploring Georgia’s experience in blockchain technology development. WB Chief economist Hans Timmer told BMG that the system makes transactions transparent and this technology simplifies and cheapens transactions. “Georgia genuinely surpasses many countries in this component and that’s why we have selected your country. I am astonished …

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Bank of Georgia Finished January with a Profit of 6.4 MLN GEL

Bank of Georgia Finished January with a Profit of 6.4 MLN GEL

Bank of Georgia finished January with a profit of 6.4 million GEL, the rate is more by 2.2 million (+52% y-o-y), comparing to the previous January (L/Y – 4.2 million). As of January, 2015, the bank had a loss (-5.7% million). The bank is presented with 9.3%-share among the profitable …

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NBG Forecasts Annual Target Inflation to Be around 3%

Koba Gvenetdze Makes a Comment on Sharp Devaluation of GEL

National Bank of Georgia (NBG) expects the 2018 target inflation rate to be balanced on 3% indicator. NBG plans to mitigate monetary policy moderately in midterm period, the NBG President told the Reuters. The 2017 annual inflation rushed up to 6.7%, instead of balancing on 4% target indicator. In January …

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Commercial Banks Issued 15 billion GEL Mortgage Loans in 2017

Cartu Bank Profits Marked 5.6 million GEL as of May 1

In 2017 commercial banks issued 14.993 801 billion GEL mortgaged loans secured by residential spaces, according to the financial reports published by commercial banks for the fourth quarter of 2017. Namely, TBC Bank issued 6.080 480 billion GEL mortgage loans. Bank of Georgia – 5.689 112 billion GEL mortgage loans, …

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A Competitor Appeared to the Banks in Forwards

A Competitor Appeared to the Banks in Forwards

A competitor has appeared to banks in forwards, which will insure monetary risks cheaper to the companies. JSC ForMeti works on a new platform of forwards. According to the company, forward transactions will be made electronically. Private individuals, as well as legal entities will have ability to apply application. Nika …

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