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Capitalization of Georgian Stock Market Increased by 22 Million

The new data on the Georgian Stock Exchange was published, according to which market capitalization increased by 22 million GEL. It now amonts 2,279,165,152 GEL. The increase was likely caused by some major transactions and the bonds placed by JSC “Nikora Trend”. Nevertheless, the company’s 19th Delimination was implemented, which …

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KPMG Georgia to Carry out Audit at National Bank

NBG Reduces Its Policy Rate By 25 Basis Points To 6.75%

KPMG Georgia will carry out an audit of the reporting of National Bank of Georgia (NBG). The corresponding draft resolution was prepared by the parliament’s finance and budget committee and it will be submitted to the parliament for voting. Under the resolution, KPMG Georgia is to audit the 2018-2019 reporting …

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TBC Bank about Okuashvili’s Statement: We Plan to Take Legal Steps

TBC Bank will take legal steps in relation to statements made by businessman Zaza Okuashvili, because the mentioned statementს damage the bank’s reputation, the head of TBC Bank’s legal department, noted. This is very sensitive issue for our bank as it refers to divulging information on the client’s transaction. This …

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TBC Bank’s Statement on Zaza Okuashvili’s Live to Yestarday

TBC Bank claims that yesterday’s statement of Mr. Zaza Okuashvili is not true and is an attempt to spread false information. The main importance for TBC Bank is customer trust and protection of all necessary rules and procedures that are linked to customer’s security. The Bank has a high degree …

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There is No Problems with Excessive Debts on the Market

Today there is no problem with excessive debts on the Georgian market, Archil Bakuradze, head of the supervisory board of Crystal microfinance organization told BM.GE. The sector needs reasonable regulations, however, in case of maximum restrictions, new threats will arise on the market, he said. “Number of insolvent clients and …

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National Bank Simplifies Crediting Procedures for Physical Bodies

National Bank: Impact of External Shocks Decline

Clients to Get Services of Revenue Service and Public Registry under Single-window Principle at Commercial Banks. A joint project by National Bank of Georgia (NBG), Government and Revenue Service ensures an exchange of information on borrowers. The document  will come into force in October 2018. According to the NBG, for …

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National Bank to Enforce New Loan Regulations Ahead of Schedule

Revised loan coefficients will be specified at the next meeting of National Bank of Georgia on November 21. Under new regulations, borrowers are to have higher salaries for taking loans. Monthly Net Incomes in GEL Loan Service Coefficient – Maximum Indicator for Nonhedged Borrowers Lona Service Coefficient – Maximum indicator …

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Credit Growth Stood at 19.1% YOY in August

The total bank loan portfolio increased by 19.1% YoY in August 2018, excluding FX effect. From the segments perspective, retail, SME and corporate loans increased by 19.1%, 20.8% and 18.1% YoY, respectively. Growth of retail loans was mostly driven by mortgages, which went up by 34.7% YoY, while non-mortgage loan …

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Murtaz Kikoria Resigns from National Bank of Georgia

Member of the Board of the National Bank of Georgia, Vice-Governor Murtaz Kikoria has just resigned from the office. Mr. Murtaz Kikoria served as the Chief Executive Officer of JSC Bank of Georgia from September 2015 to September 7, 2016. Mr. Kikoria served as Deputy Chief Financial Officer of Finance …

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