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Russia’s Alfa Bank Enters Georgia

Russia’s Alfa Bank Enters Georgia

Commersant has learnt that the Russian banking giant Alfa Bank enters Georgia. According to the source, Alfa Bank  buys the assets of the Caucasus Development Bank-Georgia and  the audit service has entered into the bank. The National Bank of Georgia (NBG) has revoked thebank’s license  in September this year, as a …

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Two New Members are in the Supervisory Board of NBG

Two New Members are in the Supervisory Board of NBG

The parliament has approved three members in the Supervisory Board of NBG. Murtaz Kikoria, Archil Mestvirishvili and Robert Singletar are elected for 7-year term in the Board. The famous banker, Murtaz Kikoria returns to NBG from Bank of Georgia, where he has been occupying position of General Director, as for …

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National Bank: Banning Taking Small Loans in USD Would Not Increase Interest Rate

Low dollarization interests everyone, including population, government, investors, commercial banks and other players of financial sector, Vice President of National Bank of Georgia, Archil Mestvirishvili said. We have worked out 10-point plan, which focuses on three main directions: First is increasing Lari lending affordability which implies long term loans, and …

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How the Banker Evaluates Announced Amendments by the Government

How the Banker Evaluates Announced Amendments by the Government

Banking sector approves government’s step in terms of to insure currency risks. Archil Kontselidze, CEO of VTB Bank declares, that fulfillment of this initiative will be a success. The banker does not expect loans in GEL to be increased in price. In addition, Archil Kontselidze notes, that obligation do not …

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How to Take Business Loan

Those, who plan to expand their business activities, reach higher levels or  want to draw financial resources for unique idea will find this interview very interesting.We have interviewed Konstantine Makatsaria, head of micro, small and medium business department of Terabank, about business sector crediting and other business products of the …

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Shares of Georgian Companies are Increased in Price in London

Shares of Georgian Companies are Increased in Price in London

Shares of Georgian companies showed growing trend on London Stock Exchange in the previous year. Their market capitalization remains above 2,3 billion GBP. As of weekly statistics, quoting of Georgian companies’ shares are grown. BGEO Group (BGEO LN) shares closed at GBP 30.50/share (+7.96% w/w and -0.10% m/m). More than …

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What is the Situation on the Currency Market?

What is the Situation on the Currency Market?

GEL exchange rate keeps falling trend against USD on the currency market. Morning trade started at $1 / 2.4962 GEL index in the Bloomberg- trading system, Georgian national currency has been devaluated soon and the offer fell down at $1/2.5165 by12:20 p.m. (Tbilisi time). GEL exchange rate has been decreased …

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