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Bank of Georgia is the Most Profitable Bank in the Country

Bank of Georgia is the Most Profitable

Bank of Georgia is the most profitable. As of January 1, ROE totals to 2.73% (2016 – 2.46%), while ROA – 31.5% (2016 – 21%). Bank’s assets are determined by 11.898 billion GEL, market share – 34.4% (2016 – 10.087 billion; 33.5%). Deposit portfolio (non-banking) – 6.702 billion GEL, share …

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Global Finance Recognized Bank of Georgia as the Best Trade Finance Bank

Global Finance Recognized Bank of Georgia as the Best Trade Finance Bank

JSC Bank of Georgia has gained the following recognition of Global Finance. The country’s leading financial institute has been names the Best Trade Finance Bank in Georgia for the second time. The editorial review board of the Global Finance magazine selected the winners based on inputs from industry analysts, corporate executives and …

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Rating of Commercial Banks in December

Rating of Commercial Banks in December

Consolidated profits of the bank sector exceeded 152.5 million GEL in December 2017. All commercial banks finished the month of December in profits, including Silk Road Bank. However, the latter bank’s annual losses constituted 495 555 GEL. The Georgian banking sector consists of 16 commercial banks, including 15 ones with …

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Koba Gvenetadze Announces 2018 As A Year Of Financial Education

The governor of the National Bank of Georgia, Koba Gvenetadze has announced 2018 to be “a year of financial education” and discussed plans that will be implemented together with financially literate society, who will no longer be afraid of exchange rate volatility. The governor also reviewed the major challenges of …

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VTB Bank Improves Market Positions

VTB Bank Improves Market Positions

In January-November 2017, VTB Bank ranks fourth in terms of assets, with a 4.5% ratio. The bank is fourth in terms of deposits, with a 4.8% ratio, while the crediting portfolio makes the bank fifth on the market with a 4.5% ratio. VTB Bank’s profits have increased by 5.6 year …

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Bank of Georgia has Received a New Credit Line From EBRD

Bank of Georgia has attracted a new credit line from EBRD. It’s 135 million GEL credit line, which is valid for 5 years. This is the second transaction that the bank received from the European Bank for Reconstruction and Development since May 2016. Like the first tranche, the sum will …

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Commercial Banks Lower Deposits Interest Rate

Commercial Banks Lower Deposits Interest Rate

Key players on the retail deposits market have lowered deposits interest rates. TBC Bank and Bank of Georgia with 75% ratio on the market (4.4+3.7 billion) have reduced the annual interest rate to 9.4%. Liberty Bank (1.03 billion) cut the rate to 9% on Patriot deposit, while annual interest rate …

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NBG: Current Account Deficit Falls to Historical Bottom

“The current account deficit has seen one of the historical bottoms”, National Bank President Koba Gvenetadze noted. The current account deficit has dropped to 2.9% and this is a serious progress, he said. “For appraising the 2017 performance, economic experts need indicators of 3 other months. However, we can talk …

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