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Finance Minister: Banking System should Drive Economy, not Destroy It

Minister of Finance Mamuka Bakhtadze has announced a new government initiative for shaping an alternative to expensive banking products. When talking about the new initiative, Minister of Finance Mamuka Bakhtadze said that the Georgian bank sector should drive Georgian economy, not destroy it. But we have different reality in the …

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TBC Market Capitalization Exceeds 1 billion GBP

TBC Bank

Deals of TBC Bank shares (TBCB LI) at the London Stock Exchange (LSE) increased during the last trading session. Deals were made on more than 290,000 shares (160,000 in December 2017). At the end of the week the price of one share was 19 GBP, up 3% week on week …

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Moody’s Upgrades Rating Of Bank of Georgia’s Senior Notes

BGEO Group PLC said Thursday that credit rating agency Moody’s Investors Service has upgraded the credit rating of unit JSC Bank of Georgia’s senior unsecured notes by two notches to Ba2. The outlook on the senior unsecured notes has been changed to stable, from rating under review. The credit rating …

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Liberty Bank Joined Information Campaign on Visa-free Travel – Europe is Home

On October 9, 2017, Visa Free Regional Information Campaign “Europe is home” started with the organization NGO “Cida”. Campaign partners and supporters are: European Union, Open Society Foundations, Civil Society Regional Network (R-CSN), Office of State Minister for European and Euro-Atlantic Integration, Information Center on NATO and EU and Liberty …

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Shota Machavariani to Head VTB Bank’s Marketing and PR Service

Shota Machavariani

Shota Machavariani has been appointed as a head of marketing and PR office at VTB Bank. Before, has has worked for the New York office of the Abu Dhabi major private investment foundation, Marketer.ge reports. Shota Machavariani: “I had arrived from the USA for a certain period. I had to …

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TBC Upgrades Auto Park with Eco-friendly Cars

Automobiles will be gradually replaced by Eco cars at TBC Bank auto park. The process of replacement of old cars with hybrid-type automobiles and electric motors has already begun and at the first stage 35 vehicles have been replaced. Thanks to new vehicles, TBC has already significantly reduced the CO2 …

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Fitch Improves Procredit Bank Georgia’s Outlook

Fitch Improves Procredit Bank Georgia's Outlook

Fitch Ratings imporved Procredit Bank Georgia’s outlook. The Rating Agency revised Procredit Bank Georgia’s Outlook to Positive from Stable. The revision of the Outlook to Positive follows the revision of the Outlook on Georgia’s sovereign rating to Positive from Stable. The affirmation of PCBG’s ‘BB’ Long-Term IDRs at one notch …

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GPI Holding Emerges as Market Leader in terms of Insurance Premium

GPI Holding is the market leader in terms of insurance premium generated. In 2017 the company received revenues of 102 million GEL. Aldagi insurance company is second with 90 million GEL insurance premium, Imedi L is third with 51 million GEL insurance premium. Ardi and TBC are also recorded in …

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BGEO Awarded Top Management with Shares of 4.9 MLN GBP

BGEO Awarded Top Management with Shares of 4.9 MLN GBP

Top Management of BGEO Group were awarded with shares as bonuses. The shares of leading banking-finance group were given to Irakli Gilauri, General Director, as well as members of directorate: Avtandil Namicheishvili, Kakha Kiknavelidze (CEO of Bank of Georgia), Davit Tsiklauri, Giorgi Alpaidze and Eka Shavgulidze. The managers received shares …

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