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TBC Bank Group Rating Reiterated by Peel Hunt

Peel Hunt reiterated their buy rating on shares of TBC Bank Group (LON:TBCG) in a research note published on Friday, May 25th. They currently have a GBX 2,150 ($28.85) price objective on the stock. Separately, Berenberg Bank initiated coverage on shares of TBC Bank Group in a research note on Tuesday, April …

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TBC Bank has New Director of Operations Management

Tornike Gogichaishvili was appointed Deputy Director General of TBC Bank and Director of Operations. Gogichaishvili replaced Vano Baliashvili, who will continue to work in TBC Bank’s in other sector after almost 20 years of work at the company. Tornike Gogichaishvili has 20 years experience in financial services and operations management. Prior …

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New Regulations for Credit Companies

New and fairer rules will be established in Georgia’s banking and finance sector to protect consumer rights, Minister of Finance Mamuka Bakhtadze said. The reforms are to establish new qualitative standards and support sustainable, long-term economic growth. Excessive indebtedness is a key challenge the reforms will address, as it is …

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New Regulations to Take Effect for Banking Holdings

Kumsishvili

“New regulations will be enforced in relation to banking holdings”, Vice Prime Minister Dimitri Kumsishvili noted after Georgian Capital was separated from BGEO Group and Georgian Capital shares were placed at London Stock Exchange (LSE). The banking sector should be separated from real economy, he said. “Today is of crucial …

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Lowering Effective Interest Rate to 50% Cannot Control Interest Rates

archil_mestvirishvili

Lowering the effective interest rate to 50% cannot control interest rates, Archil Mestvirishvili, vice president of National Bank of Georgia (NBG) noted at the NBG event, where a new project about financial education was introduced. “One of the changes that will be submitted to the Parliament calls for lowering effective …

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Fourth Georgian Company Listed On LSE

BGEO

Bank of Georgia Group said the demerger of its investment business with Georgia Capital was completed on Tuesday. As part of the demerger, Bank of Georgia Group issued and allotted 9,784,716 Bank of Georgia Group Shares—equivalent to 19.9% of the Bank of Georgia Group’s issued ordinary share capital—to Georgia Capital …

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TBC Bank Acts as Underwriter of EBRD Eurobond Issue

TBC Bank has acted as lead manager and underwriter for European Bank for Reconstruction and Development  GEL 120 million Eurobond issue under EBRD’s Global Medium Term Note Programme. The bonds are to be listed on the London Stock Exchange. “We are delighted to have completed another successful transaction with EBRD. …

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Cartu Bank Ends January-April Period in Losses

Cartu Bank Ends January-April Period in Losses

Cartu Bank tops the list of commercial banks with negative coefficient. As of May 1, Return on Assets (ROA) accounts for 0.33%, while Return on Equity totaled 1.63%. Cartu Bank ranks third on Georgian market in terms of capital volume. Assets 1 172 813 322 Loans  813 023 029 Deposits …

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Mamuka Bakhtadze: Banking and Finance Sectors Establish New Fair Rules of Game

Mamuka Bakhtadze: The Main Focus Will be less Bureaucracy

The banking and finance sectors started establishing fair rules of the game, Finance Minister Mamuka Bakhtadze said after today’s government meeting. At the special briefing Mamuka Bakhtadze discussed a new bill submitted to the Government meeting. The legislative initiative promulgates several important principles, he said. “First, no lender will be …

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TBC Bank Director Nikoloz Kurdiani Sells Shares

Nikoloz Kurdiani

TBC Bank Group PLC said that Nikoloz Kurdiani, deputy chief executive officer of JSC TBC Bank sold 4,500 shares at a price of 1,743.00 pence per share on last Friday, at a a total of GBP78,426, Alliance News reported. It has not been disclosed how many shares Kurdiani now holds following …

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