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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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Georgia Hosts Annual Conference of Fitch Ratings

Georgia hosts Fitch Ratings Annual Conference in Georgia, which will be hosted on 10 October in Tbilisi. The event traditionally presents a valuable opportunity for informal communication with representatives of regulatory bodies, Fitch analysts as well as colleagues and business partners. Conference invitees include heads of major Georgian companies, senior executives of leading banks …

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National Bank Lobbying Commercial Banks

Several days ago National Bank of Georgia (NBG) released a special statement promulgating that corporate bonds are not insured by either Government or NBG guarantees. Therefore, NBG warns the population to show caution when purchasing bonds. Issuance of corporate bonds started in 2014 and several companies have already issued similar …

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50-Tetri Coins of 1995 Issuance to Lose Legal Force in 2018

50 tetri

Under the National Bank’s resolution N5 passed on October 4, 2017, starting January 1, 2018, coins of 50 Tetri nomination issued in 1995 will lose legal force for payment. The so-called Golden 50-Tetri coin comprises a griffon image and the inscription of TETRI on the head side, while on the …

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