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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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One Billion USD Capital Chinese Bank to Launch in Georgia

The official ceremony of signing declaration, concerning founding Georgian development bank was held in Pekin today where Belt and Road Forum For International Cooperation was organized. The founders of the bank are largest Chinese corporations: “CEFC China Energy Company Limited’’ and the company „Eurasian Invest LLC”. The declaration was signed …

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How Many Banks Should Operate in Georgia

Bank of Georgia and TBC Bank Aspiring for Further Enhancement of Banking Sector Oligopoly. Last week active discussions were underway on how many commercial banks should operate on the Georgian market. On the one hand, it is ridiculous to discuss how many players should operate on this or that specific …

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Georgia Should Create Financing Opportunities Other Than Banks – WB

Georgia should create financing opportunities other than banks, according to the World Bank’s (WB) ‘Trade in Transition’ Europe and Central Asia (ECA) Economic Update made public by Hans Timmer, WB’s chief economist for Europe and Central Asia, during a video conference in Tbilisi, Georgia May 11. “I am not sure …

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Georgian Lender BGEO Increase Porfit and Revenue in First Quarter

Georgian Lender BGEO Increase Porfit and Revenue in First Quarter

Georgian banking and investment firm BGEO Group PLC said Wednesday it increased its pretax profit and revenue in the first quarter of 2017. FTSE 250-listed BGEO reported a pretax profit of GEL113.3 million for the three months to March 31, or approximately GBP35.8 million. This was up 17% from GEL97.0 …

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Ministry Of Finance Of Georgia Treasury Note Auction Results

Georgian LARI Strengthens to New Highs

On May 10, 2017, GEL 30 000 000 2-year Ministry of Finance Treasury Notes were sold at the Auction held at NBG. Five commercial banks participated in the auction. The total demand amounted to GEL 56 300 000. Minimum yield was 7.900%, maximum yield was 7.980% and the weighted average …

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TBC Bank Becomes Georgian Banking Sector Leader

The major banking amalgamation process in the region has ended successfully.  TBC Bank and Bank Republic have merged. The amalgamation process that lasted several days has been finished successfully. “Starting today  Bank Republic clients are plenipotentiary clients of TBC Bank. They have access to TBC Bank products and services, including …

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Business Café meets up for the 9th time

Business Café meets up for the 9th time

On May 3rd, 2017 the 9th meeting of Business Café was held at Holiday Inn Tbilisi. Mr. Sascha Ternes, Managing Partner at TERNES Real Estate Fund LLC and former CEO of ProCredit Bank spoke about organizational culture, business ethics and corporate management. About Business Café: Business Café is a project …

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Turkey’s Ziraat Bank Launches New Operation in Georgia

Turkey’s Ziraat Bank Launches New Operation in Georgia

Turkey’s state-run Ziraat Bank will offer services in neighboring Georgia under a new institution called JSC Ziraat Bank Georgia, it announced on May 2. Ziraat Bank, which had maintained operations in Georgia from offices in Tbilisi, Marneuli and Batumi since 1998, aims to expand its branch network and become a …

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