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TBC Bank and DEG Signed 70 Million USD Loan Agreement

TBC Bank is Ranked as the 1st by Assets, While – the 2nd by Profit

TBC Bank attracted 70 million USD financial resource from Investment and Development Society DEG, which will be allocated for small and medium business financing for 7 years. “We are delighted with the professionalism of TBC Bank management and high quality products and services offered to small and medium businesses. We …

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British and Georgian Designers Rebrand Liberty Bank’s Logo

Liberty Bank, made significant change and rebranded its logo. As company representative told BPI British and Georgian designers have worked on the project. Liberty Bank has simplified the logo and it only says liberty  not Liberty Bank. The logo is simple, straightforward, creative and modern. The letter “B” highlights the …

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Salaries for Bank of Georgia Top Managers

Bank of Georgia stakeholders have approved rules of payment of salaries to members of the supervisory board. Starting May 21, 2018 salary of the supervisory board members was determined in the following amount: Annual salary for the supervisory board membership (before tax deduction): Head of supervisory board– 210 313 USD; …

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Loans Larization Coefficient Rose to 44.9%

NBG

Crediting volume of commercial banks (including loans issued to nonresidents) rose by 239.6 million GEL in May compared to April (+1.1%) and constituted 22.9 billion GEL as of June 1, 2018. According to National Bank of Georgia (NBG), in the same period volume of GEL-denominated loans rose by 89.3 million …

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Commercial Banks Issued 240 million GEL Loans in May

In May 2018 volume of GEL-denominated loans in commercial banks rose by 157 million GEL (without interbank loans), while foreign currency denominated loans increased by 18 million USD. As a result of GEL exchange rate devaluation, the volume of foreign currency denominated loans rose by 92 million in GEL equivalent. …

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Commercial Banks’ Profits Rose by 70 million GEL in May

In May 2018 the Georgian banking sector’s profits made up 68 million GEL, up 13% month on month (60 million GEL profits in April 2018). The Georgian banking sector registers 13 profitable banks with ∑364 million as of April 1, 2018 (∑292 million as of May 1, 2018). Statistics of …

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BSTDB’s Local Currency Loan to TBC Bank Helps Georgian SMEs

The Black Sea Trade and Development Bank (BSTDB) provides a 120 million Georgian Lari loan (equivalent of USD 50 million) to TBC Bank to finance investments and working capital needs of Georgian small and medium-sized businesses (SMEs). This is the second local currency SME facility that BSTDB extends to TBC …

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Recent Changes to the Georgian Tax Code

TBC Bank Group announced that the recent amendment to the Georgian Tax Code in relation to corporate income tax will have an immediate impact on its deferred tax liability. The amendment, which comes begins on 12 June 2018, postpones tax relief for re-invested profit from January 1, 2019 to January …

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Banking Sector Anticipating Decline in Loan Portfolio Growth

The Society and Banks nongovernmental organization asserts that the loan portfolio growth tendency will be declined in short-term period as a result of new regulations imposed on the sector. Unlike previous years, the exchange rate has not increased extremely and this will not result in growth in inflation, the organization …

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TBC Capital Released Report on Fixed Income Securities in Georgia

On June 15th TBC Capital presented the research report on “Fixed Income Securities in Georgia”. The report describes the Bond Market in Georgia and discusses its future development trends. According to the report, the treasury securities market is well developed in the country. On the other hand corporate fixed income …

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Mamuka Khazaradze Meets with ADB President

Takehiko Nakao, president of Asian Development Bank (ADB), has met with Mamuka Khazaradze, chairman of TBC Bank’s supervisory board. Members of ADB delegation and representatives of TBC Bank’s top management have also attended the meeting. At the round-table meeting, the Parties discussed details of cooperation between ADB and TBC Bank …

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ProCredit Bank Losing Positions

ProCredit Bank Losing Positions

ProCredit Bank assets have shrunk by 100 million GEL. The German Bank’s portfolio has declined by 56 million GEL YTD. Deposits have decreased by 80 million GEL (current accounts, demand and term deposits). ProCredit Bank ranks 5th in terms of assets (3.6% market ratio); The bank is fourth in terms …

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