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Gvasalia: Version on Insufficient Liquidity of Banks is not Correct

Gvasalia: Version on Insufficient Liquidity of Banks is not Correct

“Larization program will reduce pressure on the national currency and rise foreign exchange risks to the borrowers”, – President of Banking Association declared on the double benefit of the governmental campaign. Zurab Gvasalia focuses attention on functionality of the program, accessibility of refinancing loans at the expense of expanded collateral …

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De-Dollarization to Start on 17th of January

Factors Behind the Georgian Lari’s Depreciation

On 17th of January, de-dollarization program will start. Individuals who had real estate bank loans in foreign currency will manage to convert it into national currency. At the same time, pre-coverage commission fee will be abolished. De-dollarization is implemented together by government and national bank. Subside will refer to bank …

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Banking Sector in 2016 in Review

Banking

Banking sector is meeting the New Year of 2017 with new merged and amalgamated companies. TBC Bank has become a hero company in 2016 with 315 million GEL transaction. TBC Bank has paid the mentioned amount to Societe Generale for bank assets. TBC paid 360 million GEL for acquisition and …

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ProCredit Listed in Frankfurt Stock Exchange

ProCredit Holding, the owner of ProCredit Bank, has been listed in Frankfurt stock exchange, ProCredit Bank press service reports. This fact provides additional opportunities for development and  improvement of reputation among Europe’s major and influential investors, the bank’s press release reads. ProCredit Group was included in the premium list from …

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Kakha Okriashvili: Banks to Engage with Secondary Activities

The founder of PSP Group , and parliamentarian, Kakha Okriashvili talks about negative factors for business. According to Okriashvili, inflation of GEL made an influence not only on pharmaceutical business but also other businesses. “Volatility of GEL made a negative influence on the whole business sector, because the feeling of …

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Capitalization of Georgian Companies Amounts to 2.39 bln GBP on LSE

Price of Georgian companies’ shares was insignificantly changed on London Stock Exchange in the previous week. BGEO shares were increased in price, while TBC Bank’s –decreased and costs had been increased on GHG shares. Respectively, companies’ capitalization total to 2,397 billion GBP. shares were traded in the range of GBP …

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National Bank to Locate Four Official Exchange Rates

National Bank will locate four official exchange rates. On the main page, Turkish Lira and British Pounds will be added to the exchange rates of USD and Euro. At the same time, considering growth of micro finance organizations activities in Bloomberg trade system, Georgian National Bank will consider the commercial …

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