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Merger of TBC Bank and Bank Republic to Finish Later in April

Merger of TBC Bank and Bank Republic to Finish Later in April

TBC Bank informs clients of Bank Republic on the following changes. Branch of Bank Republic, locating in Pekini str.28 will be abolished from April 3 and customers should be served by Bank Republic’s operators at TBC’s service centre in Pekini str.5A. The management expects to finish the merger late April …

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Liquid Assets of Commercial Banks Decline in February

Liquid assets of commercial banks marked 5.749 billion GEL as of March 1, 2017 (6.089 billion GEL as of February 1, 2017). In February 2017 almost all main indicators of fiscal stability have worsened. Liquid assets in total assets made up 22.8% (24.9% as of February 1, 2017); Liquid assets …

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Official Statement by JSC Terabank

On March 27 the round table meeting organized by International Chamber of Commerce (ICC) discussed several important court trials, including JSC Terabank dispute against the former owner of property taken over by the bank. Objective of the discussions was to outline how court decisions on separate cases affect the investment …

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New Daytime Center Opens by Support of Liberty Bank

New Daytime Center Opens by Support of Liberty Bank

Daytime Center has opened for persons with disabilities (PWDs) in the village of Saguramo, Mtskheta District. PWDs under and over 18 years old are able to receive services of the daytime center. The center is able to serve 25 beneficiaries, including various services are available for 15 underage and 10 …

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Basisbank Profits Grew in February

Basisbank Profits Grew in February

Basisbank profits constituted 4.212 million GEL as of March 1. The figure put the bank on the sixth position with a 3% ratio among 12 profitable banks (3.429 million GEL as of March 1, 2016; 8%). The Bank finished the January to February period with a high index of profitability. …

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Bank of Georgia Records Highest ROE

Bank of Georgia Records Highest ROE

Bank of Georgia has recorded the highest return on equity (ROE). Cartu bank emerged as an only organization among commercial banks with major supervisory capital that worsened Return on Equity. Currently, Cartu Bank has negative balance on ROE.     GEL % 1 TBC Bank 1.455.000 15.05 2 Bank of …

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TBC Bank is Leader in Terms of Deposits Portfolio

TBC Bank is Leader in Terms of Deposits Portfolio

Deposits portfolio has shrunk in Georgian banking sector. According to National Bank of Georgia (NBG), total volume of physical and corporate deposits marked 16.5 billion GEL as of March 1, 2017 (17.2 billion GEL as of February 1, 2017 – down 4% month on month and up 13% year on …

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TBC Bank Converted 40 Million USD Loan into GEL

According to deputy of TBC general minister, 40 million loans have been converted to national currency in both TBC and Bank Republic, which amounts to 53% of loans on the market. In the frame of dedollarization program, 3073 customers dedollarized their loans.  Customers who weren’t enrolled in the state subsidized …

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FMO Sells Shares in TBC Holding

Netherlands Development Finance Company (FMO) has sold its own shares in TBC Holding. Institutional investors of UK, USA and Europe have bought the shares under accelerated deal managed by  Barclays და Renaissance Capital. “FMO was one of the four international finance institutions that owned shares in TBC Holding. It owned …

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Banking Sector’s Revenues Grew in January-February Period

Banking sector’s revenues in January-February made up 558 million GEL, up 12% year on year. According to statistics of National Bank of Georgia (NBG), in the reporting period the banking sector’s expenditures totaled 105 million GEL (104 million GEL as of March 1, 2016), including staff expanses marked 92 million …

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