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Terabank Vake Branch Has Renewed According to the Financial House Concept

Another branch of Terabank has been renewed according to the concept of Financial House. The Vake branch has changed its location and now you can get banking services in a house-style environment on 33 Chavchavadze Avenue. ”My Financial House”-this is the communication message of Terabank, that is why the conditions …

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TBC Bank Expands GEL-denominated Loan Portfolio

TBC Bank Expands GEL-denominated Loan Portfolio

TBC Bank has shrunk dollarization coefficient in loan portfolio. Retail loans portfolio constituted 4.257bln GEL as of August 1 (H1/2017 – 4.216bln; +1% m.m). GEL-denominated loans portfolio has risen to 2.1bln GEL. Retail portfolio dollarization coefficient is 50.7% (01.06.2017 – 51.8%). Billion Loans 7.493 Including Retail Loans 4.257 Retail Currency …

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NBG Keeps Its Policy Rate Unchanged At 7%

NBG

The Monetary Policy Committee (MPC) of the National Bank of Georgia (NBG) met on September 6, 2017 and decided to keep the refinancing rate unchanged at 7 percent. The inflation dynamics is in accord with the existing forecast. The annual inflation in August has decreased to 5.7%. According to the …

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ADB Names TBC Bank as the Best Bank in Trade Financing

 Asian Development Bank named TBC Bank as the best partner for the third time in terms of trade financing in Georgia. The awards ceremony was held in Singapore and over 150 representatives from 17 countries attended the event. The Asian Development Bank has identified 18 best partner banks with which …

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Silk Road Group Interested in Purchasing Geocell

Silk Road Group is interested in purchasing Geocell, Lekso Topuria, member of Silk Road Group supervisory board, told Business Morning. In response to the question whether the company will use 34mln GEL raised from Silknet bonds, Topuria said that the mentioned sum will refinance the TBC Bank loan. As to …

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Company Silknet Issued 34 Million GEL worth Bonds With TBC Capital

TBC Capital successfully completed the placement of Silknet bonds. The volume of bonds is 34 million GEL. It’s the first time on the Georgian telecommunication market company issue the bonds. “Silknet” bonds term is 5 years. The annual coupon rate is 3.5% of the refinancing rate of the National Bank. …

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Overdue Loans Amount Shrank by 9.6 million GEL in July

Amount of overdue loans shrank by 9.6mln GEL in July and the amount totaled 430.4mln GEL. The ratio of overdue loans in crediting portfolio of commercial banks made up 2.2%. Ratio of GEL-denominated loans in overdue loans made up 39.6%. According to National Bank of Georgia (NBG), in the reporting period, …

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BGEO’s Bank of Georgia Signs One-year $75m Facility

BGEO Group subsidiary JSC Bank of Georgia has signed a one-year $75m club trade finance facility arranged by Citi in collaboration with the bank’s long-term partner international financial institutions Asian Development Bank and International Finance Corporation. The FTSE 250 firm said the facility is the fourth successful syndication arranged by Citi for JSC Bank of Georgia, and …

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Assets of Commercial Banks Totaled 30.5bln GEL as of August First

Assets of commercial banks amounted to 30.5bln GEL as of August 1. According to the National Bank’s statistics, total assets (in current prices) rose by 0.3bln GEL in July (+0.8 month on month). Own funds of commercial banks amounted to 4.1bln GEL (13.4% of assets). Basisbank advanced to the 6th …

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Bank of Georgia Records Highest ROE Coefficient

Bank of Georgia Records Highest ROE Coefficient

Bank of Georgia records the highest ROE (return on equity) coefficient. One commercial bank out of 16 ones have finished the January-July period in negative indicators (International Bank of Azerbaijan (-0.5%). ROE (%) Capital (in bln) Bank of Georgia 36.8 1.758 TBC Bank 20.1 1.521 Liberty Bank 21.2 0.206 VTB …

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