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Bank of Georgia is the Leader of Profitable Banks

Bank of Georgia is the Leader of Profitable Banks

Bank of Georgia’s profit has made up 36 million GEL in February, it is 40% of the sector’s profit (01/17 – 35.8 million). Profitability ratios are the highest – Return on Assets (ROA) is over 4.33% and Return on Equity (ROE) – 40.14% (01.17 – 4.22%: 40.66%). As known, the …

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Larization Decreased Banks’ Credit Portfolio

Larization Decreased Banks’ Credit Portfolio

81% of banks’ landing accounts for 5 banks. Portfolio has been declined to all banks in February, including TOP-5. However, merely demand decline is not the sole reason. The volume of loans has been corrected by -20 point converting. As known, $75 million is converted in GEL through 2 month …

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Social Service Agency and Liberty Bank Sign Cooperation Memorandum

On March 22 Zaza Sopromadze, director of Social Service Agency, and Liberty Bank director general Aleksi Khuroshvili signed a memorandum on cooperation at Ministry of Labor, Health and Social Protection. Under the memorandum, for a period of one year, Liberty Bank will cover electricity and natural gas consumption costs for …

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Microfinance Company Turned into A Bank

Bank Credo Georgia

National Bank of Georgia (NBG) issued a banking license to JSC Credo Bank, which has been operating on Georgian market since 2007 as a microfinance organization (the former JSC Microfinance Organization Credo). Starting 2014 Credo is owned by an international consortium of investors that implements microfinance and other financial services …

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Giorgi Papava: Banks did not sell Larization of Loans as a Product

Economists explain less interest of population towards larization program by fewer activities of banks. Economist Giorgi Papava regards, that banks have not sold larization of loans as a product. They do not convince customers to apply loans in GEL with the same effort as they do in the case of …

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PASHA Bank to Partner the International Business forum by BIA

PASHA Bank to Partner the International Business forum by BIA

On March 20th BIA Forum ‘Georgian Economy – Prospects and Challenges’ takes place in Radisson Blu Iveria hotel. PASHA Bank is the partner of the event. This forum will bring together more than 300 top executives from business community, the representatives of local government and international organizations. The forum aims …

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Back to the Past- National Bank Regains Supervision over Finance Sector

At the end of February Government decided to return finance sector supervision functions to National Bank of Georgia (NBG). However, as a matter of fact, NBG had not lost supervisory functions in practice, despite in 2015 Parliament approved amendments to the Law on Commercial Banks, under which finance sector supervision …

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