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M² Issued $30 million Worth Bonds

M² issued $ 30 million in bonds. The company-owned portfolio includes commercial, office and warehouse spaces. Over the last 4 years, the m² consumers have been able to invest free financial resources in bonds for the fourth time, and therefore, to make their own money flow better. The three year …

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Net Profits of Commercial Banks Totaled 119.1 million GEL in December

Net profits of the Georgian banking sector made up 119.1 million GEL in December 2018, down 22% compared to December 2017. According to the National Bank of Georgia (NBG), the sector’s net profits in December 2017 was 152.56 million GEL. Untaxed profits in December 2018 constituted 136.495 million GEL. A total …

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Global Finance Recognized TBC Bank as the Best Bank in Trade Financing

International Finance magazine Global Finance named TBC Bank as the best bank for 2019 in the direction of financing in Georgia. The special jury staffed by leading industry analysts and technology experts revealed the winning banks according to the following criteria: volume of transactions, communication with customers, competitive prices, innovative …

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TBC Bank Wins Payments Awards 2018

TBC Bank’s first Georgian-speaking financial chatbot, Ti-Bot, has been named the Best Alternative Payments Project in the Payments Awards ceremony organised by FStech and Retail Systems in recognition of cards and payments excellence and innovation. Our Ti-Bot offers an innovative and safe way of transferring money via chat extension, Ti-Transfer, …

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Wheather Anaklia Seaport Drives Campaign against TBC Bank

New scandal of recent days has shaken the Georgian media, business and political circles: will the Authorities arrest TBC Bank founders and top managers? Have they genuinely engaged in money laundering? And why? What factors could trigger new scandal amid New Year celebrations on cloudless sky? In general, why was …

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Business Ombudsman: We Hope for Unbiased Investigation of TBC Case

Irakli Lekvinadze

Business Ombudsman of Georgia Irakli Lekvinadze expressed hopes that the investigation of TBC Bank case will be carried out in unbiased and transparent manner. He also expressed willingness to hold consultations with TBC Bank representatives. “The investigation should be able to pose all questions that it may have, on the …

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Bank of Georgia Appoints New General Director

More Lari Appreciation is not a Good Idea, NBG should Purchase More USD

Archil Gachechiladze has been appointed as a new director of Bank of Georgia. He has replaced Kakha Kiknavelidze on the mentioned position. Neil Janin, Chairman, commented: “I am delighted that we are appointing Archil as CEO, after he thoroughly impressed all Board members during a comprehensive search conducted by the …

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New Landing Regulations Came into Force

Russia Ranks First in Terms of Money Transfers to Georgia

Starting January 1 the National Bank introduced new regulations as part of a program to introduce responsible lending and reduce the excessive indebtedness of the population. From now on insolvent citizens will not be able to take loans. Apart from that,  loans will be issued based on the financial condition …

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