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Koba Gvenetadze: Competition Law should not Apply to Financial Sector

Koba Gvenetadze

The competition law should not be applied to the financial sector. The sector is regulated by National Bank of Georgia (NBG). Consequently, no additional regulations are required, the NBG President Koba Gvenetadze said. At the same time, Gvenetadze rejected the spread information as if the insurance supervision services had been …

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IMF Representative: New Regulations Call for Decelerating Crediting Growth Paces

Francois Painchaud, resident representative of International Monetary Fund (IMF) in Georgia noted that the new regulations in the financial sector aim to reduce excessive indebtedness starting January 1, 2019. Francois Painchaud released the statement to answer the question by InterPressNews agency regarding competition level in the Georgian banking sector and …

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Borrowers Debts Exceed 3 Billion GEL at Vali.ge Database

Georgian money

The written-off debts base includes more than 407 thousand borrowers at the moment. According to the Ministry of Finance, Vali.ge has uploaded information about the 679 thousand written-off loan records on the website. The total volume of the debt is more than 3 billion GEL. For verification of your own data …

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TBC Group Develops Electronic Commerce

TBC Group is starting to develop e-commerce in Georgia. Soon the new digital trading platform Vendoo will be added to the market, which will enable users to purchase product comfortable, faster and without leaving home. Small and medium entrepreneurs will be able to supply their products to the Georgian population. …

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Liberty Awarded Winners of Conference of Educational Technologies

On December 8-9, the Teacher Professional Development Center hosted a fifth Educational Technological Conference, supported by Microsoft and Liberty, aiming to develop and implement new strategies for technology use. The experts of the field, trainers, as well as the representatives of schools, information and communication technologies companies, international organizations, academic …

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Bank of Georgia CEO to Step Down

Kakha Kiknavelidze: Bank of Georgia Has a Great Development Plan

Bank of Georgia Group Plc’s Chief Executive Officer Kaha Kiknavelidze will step down from the role, the London-listed lender said on Monday. The company expects to confirm a new CEO in the first quarter of 2019. OCTYPE html PUBLIC “-//W3C//DTD XHTML 1.0 Transitional//EN” “http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd”> Dec 10 (Reuters) – Bank of …

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David Tsiklauri Buys 3,000 Shares of Bank of Georgia Group PLC Stock

Bank of Georgia Group PLC (LON:BGEO) insider David Tsiklauri acquired 3,000 shares of the stock in a transaction that occurred on Thursday, December 6th. The stock was acquired at an average price of GBX 1,315 ($17.18) per share, for a total transaction of £39,450 ($51,548.41). Shares of BGEO stock opened at GBX 1,353 …

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Paata Ghadzadze to Quit TBC Bank

Paata Ghadzadze plans to quit TBC Bank, but he remains the team member. According to TBC Bank Group, the TBC Bank deputy director general will leave the position on January 1, 2019. He will continue his career in the insurance sector on the position of TBC Insurance director general. Paata …

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TBC Bank is Ready to Join the Initiative to Abolish Problem Loans

TBC Bank, as the largest financial institution in the Georgian market, is responsible for the sustainability and stability of the Georgian financial sector and the general economy of the country. TBC Bank is ready to join the initiative to eliminate troublesome loans in favor of low-income citizens and persons with …

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Liberty Awarded Graduate Pensioners with Diplomas

Liberty has awarded 62 pensioners in the National Library with a certificate confirming the successful completion of the course. The Liberty Digital Hall hosted lessons at the specially created hall of Liberty. Pensioners have studied the general skills of computer, internet, email, social networks, and smartphones. “I think this is …

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Bank of Georgia to Write Off 200 million GEL Loans

Kakha Kiknavelidze: Bank of Georgia Has a Great Development Plan

Bank of Georgia plans to pardon 200 million GEL loans, Bank of Georgia director general Kakha Kiknavelidze said. The bank has already specified the list of the bodies, who will be involved in the mentioned process. Total amount of the pardonable loans is 200 million GEL, Kiknavelidze said. The process …

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