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ADB Named TBC as the Leading Partner Bank in Georgia in Trade Finance

TBC Bank has been named as the leading partner bank in Georgia for the fourth time by Asian Development Bank in trade finance. The awards ceremony was held in Singapore and attended by about 200 representatives of banks and financial institutions of 15 countries. Asian Development Bank has identified 23 …

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How Loan Interest Rates Change

In July 2018 the averaged market interest rate on loans made up 12.7%. The rate was the same – 12.7% in May-June period too. The rate has declined by 0.1% year on year. Averaged interest rate on GEL-denominated loans is 15.8%, including GEL-denominated corporate loans – 11.3% and GEL-denominated retail …

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TBC Bank Profit Jumps

TBC Bank

TBC Bank’s pretax profit rose to 239.5 million laris ($94.3 million) for the six months ended June 30, from 191.4 million laris a year earlier. Shares of TBC were up 2.4 percent on the London Stock Exchange minutes after the opening bell. Tbilisi-based TBC’s market share in total loans was …

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Private Lenders without NBG Registration will Have no Right to Issue Loans

Private lenders that are not registered as loan issuing bodies at National Bank of Georgia (NBG) will be banned to issue secured loans to physical bodies. Under new amendments to the regulations for credit-information bureaus, financial organizations will not have voluntary option to cooperate with bureaus and all organizations under …

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Total of 144 Million USD Received and 20 Million Sent in July

In July 2018, the volume of money transfers from abroad constituted 144.2 million USD (352.9 million GEL), which is 19.3 percent (23.3 million USD) more than the amount in July 2017. 92.8 percent of the total money transfers from abroad came from 16 largest donor countries, with the volume of …

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TBC Bank’s Financial Director Explains GEL Depreciation Reasons

TBC Bank’s financial director Giorgi Shagidze says that the recent volatility of GEL is related to deprecation of RUB and TUR in neighboring countries. “GEL is a free currency and naturally, developments in our trade partner countries influence it. We saw that last week Turkish Lira considerably depreciated” Shagidze said …

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TBC Bank gets $50m loan from China Development Bank

TBC Bank and China Development Bank signed $ 50 million loan agreement. According to the bank, this is the largest loan resource that the Chinese Development Bank has allocated to the Georgian company. “We are proud to implement the first transaction with China Development Bank. Our cooperation is a logical …

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Profit of Banks Saw Increase by 8.4% in the First Half of the Year

The National Bank of Georgia has published financial indicators of the first half (January-June) of current commercial banks operating in Georgia. As for the data, TBC Bank saw the highest profit worth of 183 million GEL which is 22% more than the profit of the first half of 2017. “Bank of Georgia” …

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Pasha Bank Saving Clients from Fines

Pasha Bank’s ROE and ROA have declined to 3.76% and 1.45%, respectively (H1/2017 -4.77%; 1.91% ). As reported, National Bank of Georgia (NBG) has introduced new regulations – additional buffers in capital (concentration and counter-cycle buffers) and the capital coefficient was raised (≥4.5%; ≥6%;  ≥8%). As of July 1, 2018, the …

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TBC Ertguli Card Starts Summer Action

TBC Ertguli Card starts a new summer action. From August 1 users, who will get services at Ajara objects, will get 5 times more loyalty points. Points are collected as by purchasing at partner companies, as well as using TBC terminal. The action applies only through loyal and prime card payment. …

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Georgian Weekly Market Watch

NPLs at 2.4% in June 2018 In June 2018, the banking sector loan portfolio increased 18.4% y/y after growing 18.6% y/y in previous month, excluding the exchange rate effect. In unadjusted terms, loan portfolio was up 19.8% y/y and up 1.0% m/m to GEL 23.1bn (US$ 9.4bn). Deposits were up …

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