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Mamuka Khazaradze: Financial Sector Deserves a Higher Assessment

Mamuka Khazaradze: Financial Sector Deserves a Higher Assessment

Mamuka Khazaradze, founder of TBC Bank, does not share the views, expressed at America-Georgia Business Council’s 20th Annual Conference, on the lack of financial resources. He believes that Georgian financial sector deserves a higher estimation. In his conversation with the TV-program “Sakmis Kursi”, he has focused on the higher financial accessibility …

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Francois Painchaud: Market Determines Banking Sector’s Size

The Georgian banking market concentration is moderate and optimal, Francois Painchaud, resident representative of International Monetary Fund (IMF) in Georgia, noted. At his meeting with government officials and financiers, he noted that the number of commercial banks reflect the market necessities. The very market will regulate both enlargement and growth …

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Cartu Bank Profits Marked 5.6 million GEL as of May 1

Cartu Bank Profits Marked 5.6 million GEL as of May 1

Cartu Bank profits marked 5.6 million GEL as of May 1 and the bank’s ratio in total profits of commercial banks (296.6 million GEL) made up 1.9%. Profitability coefficient considerably worsened in April. Return on Equity (ROE) made up 8.61%; Return on Assets (ROA) totaled 1.41% (Q1/2017 -11.2%; 1.77%). The …

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VTB Bank’s Crediting Portfolio Grows, Profits also Rise

VTB Bank's Crediting Portfolio Grows, Profits also Rise

VTB Bank enlarged its crediting portfolio. The growth marked 2% in April (Q1/2017 – 893 million; + 1.7% m.m). Net profits have also risen (Q1/2017 -10.224 million; +13.1% m.m). As of May 1, the ratio of VTB Bank accounts for 4.7% in terms of assets.     Assets 1 388 …

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Bruno Balvanera: There are Slim Chances for New Banks to Enter Georgian Market

Bruno Balvanera: Investors’ Appetite is Increased on GEL

The European Bank for Reconstruction and Development (EBRD) estimates the possibility of third large bank entering Georgian market, however, considers that currently it is less likely to happen. Regional representative of EBRD, Bruno Balvanera declared that two large banks already own large shares at the market which limits the possibility of new bank, entering the market. …

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BGEO Group Sells 9.5 million Shares of Georgian Healthcare Group

Further to the announcement on 16 May 2017, BGEO Group PLC (the “Group” or “BGEO”) announces today that the Group has sold 9.5 million shares (the “Placing Shares”) in Georgia Healthcare Group PLC (“GHG”). Representing approximately 7.2 per cent of GHG’s existing ordinary issued share capital (the “Placing”), at a …

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