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National Bank Lowers Monetary Policy Rate to 6.5%

National Bank Lowers Monetary Policy Rate to 6.5%

The Monetary Policy Committee (MPC) of the National Bank of Georgia (NBG) met on September 7, 2016 and decided to reduce the refinancing rate by 25 basis points to 6.5 percent. The monetary policy decision is based on the macroeconomic forecast, according to which the phasing out of tight monetary …

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The IMF Welcomes NBG’s Policy to Support Larization

The IMF Welcomes NBG’s Policy to Support Larization

“The IMF welcomes the recent increase in reserve requirements for foreign currency deposits, and reduction for Lari deposits, which will help promote de-dolLarization”, – IMF Mission Chief Ms. Mercedes Vera Martin noted in an interview with Forbes magazine. Representative of the Fund notes, that since mid-2014, Georgia has been hit …

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FINCA Bank Introduces Unprecedented Loans Campaign

Finca Bank Introduces Unprecedented Loans Campaign

FINCA Bank has introduced an unprecedented loans campaign. Namely, customers are able to take GEL-denominated loans with up to 5% lower interest rate. The loan’s top margin is 200 000 GEL. “Through the loans campaign we would like to give our customers wider opportunity to attain their objectives, develop small …

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Liberty Bank Joins Breast Cancer Treatment and Prevention Campaign

Liberty Bank Joins Breast Cancer Treatment and Prevention Campaign

Mr. Sergio Osadich, director of Avon Cosmetics Georgia, and Liberty Bank director general Mr. Aleksi Khoroshvili have concluded memorandum on cooperation. Under the memorandum, Liberty Bank will join Avon’s campaign that calls for updating the population on breast cancer treatment and prevention measures. In addition, Avon company will provide free …

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PASHA Bank Sponsors Oikos Summer School

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PASHA Bank co-funds oikos Summer School which will take place at Tbilisi State University through 1-5 September. oikos is an international student-driven organization for sustainability in economics and management founded in Switzerland in 1987. The major topic of discussion will be “The Education for a Better World”. Among the attendees …

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Current Condition Of Commercial Banks’ Loan Portfolio

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The volume of lending by commercial banks (including loans to non-residents) in July 2016 increased by 224.1 million GEL or by 1.4 percent compared to the previous month and constituted 16.6 billion GEL by August 1, 2016 (exchange rate effect excluded it increased by 1.2 percent). The volume of loans …

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Current Tendencies Of Bank Deposits

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The total volume of non-bank deposits in the country’s banking sector increased by 3.1 percent (exchange rate effect excluded volume of deposits increased by 3.0 percent), or by 448.9 million GEL, compared to July 1, 2016 and constituted 14.8 billion GEL by August 1, 2016. In July, the volume of …

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Georgia’s c.bank Buys $20 mln at Currency Auction on Tuesday

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Aug 23 Georgia’s central bank has bought $20 million at a currency auction on Tuesday, as the country’s lari currency has strengthened, Reuters reports. The central bank has bought $258.35 million on the foreign exchange market since March until today after selling $60 million in January.

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