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Finance Minister: Chinese Bank will Be Commercial By 100%

Kumsishvili: We Do Not Manipulate with Expectations of Currency

Government of China will maximally support Chinese Bank to get established on Georgian market and this bank will be a commercial body by 100%, Minister of Finance of Georgia Dimitri Kumsishvili said. “Active work is being carried out with National Bank. In China we signed a document and the company …

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Retail Crediting Surpasses Corporate Portfolio in Growth Pace


The Georgian bank sector earns record profits every year. Despite Georgia’s economic growth pace is 3% on average over the past 5 years, profits of commercial banks grow by more than 100% every year. Bankers assert that such high profitability indicators are preconditioned by the sector’s success. However, it should …

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Bank of Georgia Issues GEL 500 million 11% Notes Due 2020


BGEO Group PLC’s banking business subsidiary, JSC Bank of Georgia successfully priced an inaugural GEL 500 million offering of 11.00% notes due June 2020 (the Notes). The Notes are denominated in GEL and are expected to settle on 1 June 2017. The Reg S/ Rule 144A senior unsecured Notes are …

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International Bank of Azerbaijan to Sell Georgian Assets by the End of 2017


International Bank of Azerbaijan (IBAR) plans to withdraw from Georgian market. The Bank launched operation in Georgia in November 2006. According to Azerbaijani ABC.az news agency, under the international debts restructuring plan, IBAR plans to sell its assets in Georgia and Russia. Presentation sent by IBAR to creditors indicates that …

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