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IFM Awards Bank of Georgia for Best Management of Asset and Wealth

Bank of GeoBank of Georgiargia

 The International Finance Magazine (IFM) has granted award to Bank of Georgia for best management of asset and wealth. This award was transmitted to Bank of Georgia for the second time, as the best provider of this service in Georgia. This award recognizes achievements in providing special services to consumers …

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ProCredit Bank Georgia Notifies Clients about Wooden Box Cancellation

ProCredit Bank Georgia Notifies Clients about Wooden Box Cancellation

ProCredit Bank Georgia has notified clients that starting November 1 the money transfer box of Wooden Box will be canceled. For international and domestic transfers, the bank clients will use faster and simpler internet banking services. Commission fee for Internet banking service is 1.5 EUR for physical bodies and 5 EUR …

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Azerbaijan’s PASHA Bank Reveals Profit Forecast for 2016

Azerbaijan’s PASHA Bank OJSC expects profit in the amount of 40 million manats on the results of 2016, said Chairman of the bank’s Executive Board Taleh Kazimov Oct. 18 at a press conference in Baku. Kazimov noted that the bank’s profit amounted to 24.4 million manats in 1H2016, which is …

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TBC Bank Announces about Completion of Deal over Bank Republic

TBC Bank Announces about Completion of Deal over Bank Republic

TBC Bank has become owner of 100% stake in Bank Republic. The transaction ended yesterday, on October 20, under which, Scoeiete Generale and European Bank for Reconstruction and Development (EBRD) sold 100% stake of Bank Republic to TBC Bank. The deal value has been paid and shares will be registered at …

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Bank of Georgia Emerges as Market Leader in January-September Period

Bank of Georgia Emerges as Market Leader in January-September Period

Bank of Georgia finished January-September period with 119.281 million GEL net profits  (01.09.16 –119.281 million GEL + 26%). Ratio of Bank of Georgia in profitable banks (14 ones) accounts for 29.8% (01.09.16 – 27,2%). The bank is the market leader in terms of almost all indicators. As of October 1, Bank …

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State Financial Government Incompetence is a Main Problem for Georgian Economy

Georgian financier, Kacha Chargeishvili, who lives in America talked about the Georgian banking system. Chargeishvili has many years of experience of working in the banking sector.  His career is connected to global financial companies such as: Citigroup, Bank of America, and Merrill Lynch.He was also a head of European financial group, …

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Georgia Sets Preferential Tariff on Kazakh Cargo Transit

Georgia Sets Preferential Tariff on Kazakh Cargo Transit

Georgia, Kazakhstan and Azerbaijan have reached agreement on preferential tariffs for Kazakh cargo transit in the TransCaspian corridor. The agreement was reached at the meeting of TransCaspian International Transport Route Coordination Committee in Astana. A part of Kazakh export cargo, including cereals, oil products and nonferrous metals will enjoy preferential tariffs …

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Progress Bank License For Banking Activity Cancelled

Shareholders of Progress Bank has decided to cancel licence for banking activities and become non banking service operator institution. On the basis of mentioned decision, with the order of president of National Bank of Georgia, license for banking activity of Progress Bank has been cancelled and bank started its liquidation process. …

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