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VTB Bank Grows Crediting Volume in 2Q17

VTB Bank Georgia

VTB Bank has increased crediting volume. The growth in the second quarter totaled 3.4% (Q1/ 2017 – 893 million GEL). Net profits have grown by 54% (Q1/2017 -10.224 million). As of July 1 (H1/2017), VTB Bank ranks fourth in terms of assets with a 4.8% ratio. Assets   1 465 197 Loans …

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Iranian Mellat Bank enters Georgian Market

Iranian Mellat Bank enters Georgian Market

Iranian Mellat Bank enters Georgian market. The CEO of Iran Chamber of Commerce, Rahim Abachi told CBW exclusively that Mellat Bank recently has been actively spreading information in the Iranian Media about the plans on entering the Georgian market. According to Mr. Abachi, the talks about the entrance started in …

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National Bank: Crediting Volume Rises by 211.9 million GEL

The volume of lending by commercial banks (including loans to non-residents) in June 2017 increased by 211.9 million GEL or by 1.1 percent compared to the previous month (exchange rate effect excluded volume of lending increased by 1.6 percent) and constituted 18.9 billion GEL by July 1, 2017. The volume …

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Terabank Draws 12.5 million USD Financial Component from FMO

Netherlands Development Finance Company (FMO) has allocated 12.5 million USD to Terabank. The sum is to promote small and medium business sectors and women involvement in business activities. The agreement sets long-term cooperation between Terabank and FMO. Besides financial component, the agreement also calls for providing consultations for Terabank for …

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Deposits at Commercial Banks Totaled 16.8 billion GEL

Deposits at Commercial Banks Totaled 16.8 billion GEL

Georgian bank sector’s deposits portfolio rose in June, up 2.8% month on month (May +1.1%; April +0.8% month on month; March – 3.1%). As of July 1 (H1/2017), total value of retail and corporate deposits account for 16.8 billion GEL. Two commercial banks store 71.5% of total deposits  (01.06.2017 -71.6%: …

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Bank of Georgia Capitalization Shrinks

Bank of Georgia Capitalization Shrinks

Bank of Georgia shares (BGEO LN) were traded for 34.25-35.90 GBP at London Stock Exchange (LSE) in previous week (L/w – GBP 34.80 – 37.39 GBP). Prices declined week on week (-1.4%w.w; -3.3% m.m). According to G&T Analytics, deals were made on more than 438 000 shares in previous week. …

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Kakha Kiknavelidze: Bank of Georgia Has a Great Development Plan

Kakha Kiknavelidze: Bank of Georgia Has a Great Development Plan

Management of Bank of Georgia consider market position of the bank neither satisfactory nor good. They regard it as the best. According to Kakha Kiknavelidze, CEO of the Bank, he is very satisfactory with the results of H1, 2017. The bank keeps the leading positions on the market and has …

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