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Interest Rates on GEL-denominated Loans Rises by 1%

In October 2017, as compared to September 2017, GEL-denominated loans portfolio in the banking sector rose by 153mln GEL, while foreign currency denominated loans shrank by 2mln USD. In both cases, commercial banks have issued 20.7bln GEL loans and this is a record figure. In October, the annual interest rate …

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NBG: Deposits’ Larization Shrinks

According to the National Bank, nonbank deposits volume in the banking sector hit 19bln GEL as of November 1, 2017, up 645.2mln GEL (+3.5%) as compared to the October 1 indicator (up 0.6% without the exchange rate effect). In October, as compared to the previous month, term deposits grew by …

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TBC Bank Introduces Startup Agro Loan

TBC Bank has introduced Startup Agro Loan. This is an unprecedented offer on the market, the bank representatives noted. The product enables farmers to arrange high-productive cattle and poultry farms, high-technology greenhouse complexes, warehouses, refrigerator complexes. Agro loans are issued to both corporate and physical bodies. The bank will take …

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Banking Sector’s Profits Shrink by 10.6mln GEL

Cartu Bank Profits Marked 5.6 million GEL as of May 1

The Georgian banking sector’s profits in October exceeded 37mln GEL, down 10.6mln GEL year on year (-22% year on year). Only one commercial bank of 16 ones has finished the month with losses: Silk Road Bank (0.630mln GEL). The 10-month statistics is almost the same. Every year, even as of …

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NBG Vice President: Public Expectations Make GEL exchange Rate Volatile

NBG Vice President: Public Expectations Make GEL exchange Rate Volatile

GEL exchange rate volatility was preconditioned by public expectations after importers have intensified activities. Archil Mestvirishvili, National Bank vice president: We have noted that Georgia has set floating exchange regime, which is accompanied by market fluctuations. As to the factors affecting exchange rate, we have made comments on the issue …

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Nenskra HPP Project Investor Company K-water Celebrates the 50th Anniversary

Nenskra HPP Project Investor Company K-water Celebrates the 50th Anniversary

The investor company of Nenskra Hydropower Plant Project, Korea Water Resources Corporation K-water on November 16, 2017, celebrates its 50th anniversary. The company implemented 67 projects of high complexity in 24 countries. At present the company manages 16 multipurpose dams. As of 2016, company’s income was 3 billion US dollars, …

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Price of Bank of Georgia Shares Declines at LSE

Price of Bank of Georgia Shares Declines at LSE

Price of Bank of Georgia shares (BGEO LN) ranged from 35.42 GBP to 37.05 GBP in November 6-11 period. The trading trend turned out negative. The price of the share declined by 1% week on week, but rose by more than 8% month on month (0.95%w.w; +8.12% m.m). According to …

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