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Georgia Should Create Financing Opportunities Other Than Banks – WB

Georgia should create financing opportunities other than banks, according to the World Bank’s (WB) ‘Trade in Transition’ Europe and Central Asia (ECA) Economic Update made public by Hans Timmer, WB’s chief economist for Europe and Central Asia, during a video conference in Tbilisi, Georgia May 11. “I am not sure …

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Georgian Lender BGEO Increase Porfit and Revenue in First Quarter

Georgian Lender BGEO Increase Porfit and Revenue in First Quarter

Georgian banking and investment firm BGEO Group PLC said Wednesday it increased its pretax profit and revenue in the first quarter of 2017. FTSE 250-listed BGEO reported a pretax profit of GEL113.3 million for the three months to March 31, or approximately GBP35.8 million. This was up 17% from GEL97.0 …

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Ministry Of Finance Of Georgia Treasury Note Auction Results

Georgian LARI Strengthens to New Highs

On May 10, 2017, GEL 30 000 000 2-year Ministry of Finance Treasury Notes were sold at the Auction held at NBG. Five commercial banks participated in the auction. The total demand amounted to GEL 56 300 000. Minimum yield was 7.900%, maximum yield was 7.980% and the weighted average …

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TBC Bank Becomes Georgian Banking Sector Leader

The major banking amalgamation process in the region has ended successfully.  TBC Bank and Bank Republic have merged. The amalgamation process that lasted several days has been finished successfully. “Starting today  Bank Republic clients are plenipotentiary clients of TBC Bank. They have access to TBC Bank products and services, including …

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Business Café meets up for the 9th time

Business Café meets up for the 9th time

On May 3rd, 2017 the 9th meeting of Business Café was held at Holiday Inn Tbilisi. Mr. Sascha Ternes, Managing Partner at TERNES Real Estate Fund LLC and former CEO of ProCredit Bank spoke about organizational culture, business ethics and corporate management. About Business Café: Business Café is a project …

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Turkey’s Ziraat Bank Launches New Operation in Georgia

Turkey’s Ziraat Bank Launches New Operation in Georgia

Turkey’s state-run Ziraat Bank will offer services in neighboring Georgia under a new institution called JSC Ziraat Bank Georgia, it announced on May 2. Ziraat Bank, which had maintained operations in Georgia from offices in Tbilisi, Marneuli and Batumi since 1998, aims to expand its branch network and become a …

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National Bank of Georgia and Microsoft Georgia Announce Cooperation

National Bank of Georgia and Microsoft Georgia held discussions on the topic of cloud computing and the supervision of outsourcing risk and announced their readiness for cooperation in the sphere of Cloud computing in the financial sector within the country. The operational risk regulation of the National Bank of Georgia does …

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LSE Deals on TBC Bank Shares Double

TBc BANK

A total of 927 000 shares of TBC Bank (TBCB LI) were traded at London Stock Exchange (LSE). The volume of deals has doubled. At the end of the trading week, the price per share marked 16.25 GBP (+6%w.w; +8.3% m.m). Over the past 4 weeks, averaged daily deals were …

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Commercial Banks Profit Grow By 150%

Georgian commercial banks are world leaders in terms of profitability. According to National Bank of Georgia (NBG), in January-March 2017 profits of commercial banks constituted 257 785 000 GEL, up 148 million GEL compared to the same period of 2016 (109 889 000 GEL in January-March 2016). This signifies profits …

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