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Lowering Effective Interest Rate to 50% Cannot Control Interest Rates

archil_mestvirishvili

Lowering the effective interest rate to 50% cannot control interest rates, Archil Mestvirishvili, vice president of National Bank of Georgia (NBG) noted at the NBG event, where a new project about financial education was introduced. “One of the changes that will be submitted to the Parliament calls for lowering effective …

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Fourth Georgian Company Listed On LSE

BGEO

Bank of Georgia Group said the demerger of its investment business with Georgia Capital was completed on Tuesday. As part of the demerger, Bank of Georgia Group issued and allotted 9,784,716 Bank of Georgia Group Shares—equivalent to 19.9% of the Bank of Georgia Group’s issued ordinary share capital—to Georgia Capital …

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TBC Bank Acts as Underwriter of EBRD Eurobond Issue

TBC Bank has acted as lead manager and underwriter for European Bank for Reconstruction and Development  GEL 120 million Eurobond issue under EBRD’s Global Medium Term Note Programme. The bonds are to be listed on the London Stock Exchange. “We are delighted to have completed another successful transaction with EBRD. …

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Cartu Bank Ends January-April Period in Losses

Cartu Bank Ends January-April Period in Losses

Cartu Bank tops the list of commercial banks with negative coefficient. As of May 1, Return on Assets (ROA) accounts for 0.33%, while Return on Equity totaled 1.63%. Cartu Bank ranks third on Georgian market in terms of capital volume. Assets 1 172 813 322 Loans  813 023 029 Deposits …

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Mamuka Bakhtadze: Banking and Finance Sectors Establish New Fair Rules of Game

Mamuka Bakhtadze: The Main Focus Will be less Bureaucracy

The banking and finance sectors started establishing fair rules of the game, Finance Minister Mamuka Bakhtadze said after today’s government meeting. At the special briefing Mamuka Bakhtadze discussed a new bill submitted to the Government meeting. The legislative initiative promulgates several important principles, he said. “First, no lender will be …

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TBC Bank Director Nikoloz Kurdiani Sells Shares

Nikoloz Kurdiani

TBC Bank Group PLC said that Nikoloz Kurdiani, deputy chief executive officer of JSC TBC Bank sold 4,500 shares at a price of 1,743.00 pence per share on last Friday, at a a total of GBP78,426, Alliance News reported. It has not been disclosed how many shares Kurdiani now holds following …

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Bank of Georgia Posts 18.8% Rise in Q1 profit

Bank of Georgia Group Plc on Monday posted an 18.8 percent rise in first-quarter profit, driven by its banking and investment businesses, on the back of strong macroeconomic performance and business outlook in Georgia. Bank of Georgia Group Plc is the new parent company of BGEO Group Plc, it said …

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Will Consumer Loans Rise in Value?

The maturity period of consumer loans may change, according to the National Bank’s exposure draft on the issuance of retail loans. The document determine loan-issuing criteria, compliance with which will be obligatory for all loan organizations regulated and supervised by the National Bank of Georgia (NBG). According to the NBG’s …

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Profits of Commercial Banks Decline

The past three months have recorded a decline in profits of commercial banks. In April, net profits constituted 60 million GEL, down 15.5 million GEL compared to March and down 30 million GEL compared to February 2018. In April 2017 net profits of commercial banks made up 37.5 million GEL, …

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TBC Bank Completed 4-Year Legal Dispute with Asaval-Dasavali

Asaval-Dasavali executed a decision passed by the Supreme Court and publicly denied false information about Mamuka Khazaradze and TBC Bank published in different newspaper editions in 2014. According to the decision, the newspaper admitted disinformation in the same format, on the same page. TBC Bank and Mamuka Khazaradze filed a …

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