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National Bank: Impact of External Shocks Decline

National Bank: Impact of External Shocks Decline

National Bank of Georgia (NBG) has released a statement promulgating tat negative risks factors have declined in relation to Georgia. According to NBG, Georgian economy continues to recover from the external shock, both due to improvements in the domestic and external environment. In particular, the exports of goods and services, …

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BGEO Wins Contract to Upgrade Tbilisi Metro Ticketing System

BGEO Group announced on Tuesday that its banking business subsidiary, JSC Bank of Georgia, won an auction organised by Tbilisi City Hall for the modernisation of the public transportation payment system in Tbilisi, Georgia. The FTSE 250 company said that as a result, Bank of Georgia would continue as the sole provider of payment support services …

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Basisbank Expands Network of Service Centers

Basisbank has expanded its network of service centers. The new service center N1 has opened in Zugdidi. Currently, the bank owns one service center in Gori, Kutaisi and Telavi, 3 service centers in Batumi. In whole, the bank manages 22 service centers all over Georgia. In June Basisbank renovated several …

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Rating of Commercial Banks due to ROE

Bank of Georgia is leader in terms of Return of Equity (ROE). ProCredit Bank was ejected from the list of Georgia’s top five major banks (7.3%). Only two commercial banks of 16 ones have ended the first half of 2017 in negative indicators (IS Bank and Finca Bank).   ROE …

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Chinese Development Bank to Fund Basis Bank with 15 mln USD

Chinese Development Bank to Fund Basis Bank with 15 mln USD

Basis Bank announced on attraction of 15 million USD from Chinese Development Bank. The sum will be directed on the funding of small and middle –sized enterprises. This is the second case of cooperation between the parties; Basis Bank has attracted 5 million USD from Chinese Bank in February, 2016. …

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TBC Bank’s ‘Startuper’ Finances Startups with GEL 2 mln

TBC Bank’s program – Startupper is summing up its 5-month results. Since the start of the program, 50 startuppers have already used the special loan of the  program and financial resources of 2,000,000 GEL have already been issued to promote starting businesses. Startups participating in the program operate in various …

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Liberty Bank Tops Rating of Commercial Banks

Liberty Bank Tops Rating of Commercial Banks

Crediting portfolio of commercial banks marked 19.316 billion GEL as of July 1 (H1/2017). Larization coefficient is 41.01%  (01.06.2017 – 18.7 billion; + 3.2% m.m; 40.1%). According to National Bank of Georgia (NBG), GEL-denominated loans portfolio rose by 256 million GEL (+3.4 month on moth), while foreign currency denominated loans …

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National Bank of Georgia Keeps Key Interest Rate at 7 pct

NBG

National Bank of Georgia said it kept its key interest rate unchanged at 7 percent on Wednesday, based on forecasts showing annual inflation exceeding its target of 4 percent this year. Consumer prices were up 7.1 percent in annual terms in June, 0.4 percent lower from the previous month. “Rising …

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