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The Rating of Lucrative Banks – BasisBank Shows the Highest Growth

Among the profitable banks, BasisBank showed the highest growth in September, + 15.1% m.m. 13.4% were “Bank of Georgia” and 12.6% was “TBC Bank” profit growth indicator. As of October 1, there is a profit of 15 out of 16 banks. Q3/2017 ●01.09.2017 Lucrative million million Bank of Georgia 286.710 252 …

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Get #YourCard with Gifts

Another news for Students by TBC. All students who will order the card from October 11 will receive a shirt, which design will be chosen by themselves. You can also get a new, more varied and fun set of stickers that with the card. One more news for students: card …

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Lado Gurgenidze Quits Liberty Bank’s Supervisory Board

Ex Prime Minister of Georgia Lado Gurgenidze has quitted the supervisory board of Liberty Bank. Changes have been registered officially. We remind you that several days ago the owner of controlling interest in Liberty Bank was replaced. The bank’s 74.64% stake was bought by the Netherlands-incorporated European Financial Group B.V. …

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TBC Bank is Market Leader in Terms of Retails Deposits

TBC Bank is Market Leader in Terms of Retails Deposits

TBC Bank’s ratio on retail deposits market has risen to 40.9% (Q2/2017 -40.2%). The growth in the third quarter marked 8.3%. Meanwhile, Bank of Georgia has increased retail deposits portfolio by 6.7% quarter on quarter. Liberty Bank’s retail deposits portfolio has risen by 0.9%, VTB Bank – plus 6.3% and …

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National Bank Evaluates 2018 State Bidget Bill

NBG

High deficit in the 2018 state budget does not create inflation risks, the report by NBG on Georgian State Budget Law reads. “The 2018 state budget deficit grows by 60 million GEL to 1.374 million GEL. The consolidated budget bill is planned at 3.7% in relation to the 2018 forecast …

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Capital Market Development Issues Discussed with EBRD Representatives

Dimitri Kumsishvili, Georgia’s first vice Prime Minister and Minister of Finance, and Koba Gvenetadze, president of National Bank of Georgia (NBG), discussed capital market development issues with representatives of EBRD. The meeting was held in Washington, the USA, as part of the annual meeting of IMF and World Bank. At …

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EBRD Evaluates Implemented Projects in Georgia

According to Bruno Balvanera, Regional Director of the European Bank for Reconstruction and Development, the organization’s activity in Georgia and the share of investments is exceptionally large compared to all the countries where EBRD is doing its business. “Our activities include a variety of fields, but I would like to …

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European Financial Group Purchases 74.64% Shares of Liberty Bank

JSC Liberty Bank (the “Bank”) announced today a change of control, whereby European Financial Group B.V. (“EFG”), a company established and organised under the laws of the Kingdom of Netherlands, purchased 74.64% of equity interest in the Bank. The ultimate beneficial owners of the Bank are Irakli Rukhadze (US Citizen), …

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Liberty Bank Becomes a Supporter of Europe House Campaign

”Europe House” campaign responds the strategy of the Government of Georgia about communications and enlistment of Georgia in the EU and NATO for 2017-2020. In particular, one of the main messages: “The process of Georgia’s integration into the EU and NATO contributes to the creation of a safe and competitive …

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Liberty Bank Continues to Support the Rehabilitation of Children with Disability

Today, Liberty Bank Director Aleksi Khoroshvili and Director of Rehab- Children Rehabilitation David Shvelidze signed the Memorandum on Cooperation. Within the framework of the Memorandum, Liberty Bank continues to rehabilitate beneficiaries with socially vulnerable disabled status until the end of 2017, which has not yet entered the state program. The …

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Banking Sector and Securities Market as Competitors

National Bank of Georgia (NBG) warns Georgian citizens that corporate bonds are not insured by either government or NBG guarantees. According to NBG, the website ubani.ge has spread a securities offer with erroneous and misleading information that does not comply with Georgian legislation requirements for securities market. We remind you …

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Fitch: Georgian Banks Are Well Positioned to Withstand Pressures

Georgian banks are well placed to absorb potential pressures. Fitch Ratings said at its annual conference on Georgia in Tbilisi today. Sector asset-quality metrics have remained resilient through the credit cycle. Capital buffers are strong and profitability has improved, helped declining risk costs Banks’ asset quality metrics have been solid …

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