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Mamuka Khazaradze: Georgia can Become Switzerland of Caucasus

“Georgian banking system is trustworthy and our world’s investors are our shareholders,”said Mamuka Khazaradze in an interview with Anaklia magazine. Businessmen thinks that Anaklia has an opportunity to become the financial center of the region. “When you tell multinational companies and people that you are a shortcut between East and …

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Georgia and Nordic Investment Bank Sign Framework Agreement

Georgia and Nordic Investment Bank (NIB) have signed a framework agreement. The document was signed by Minister of Finance Nikoloz Gagua and NIB President Henrik Norman. The agreement makes emphasis on issues related to NIB activities in the country and will promote cooperation between NIB and Georgia. Objective of NIB …

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Georgia Won Against Russia In “Global Inclusion Awards” Of 2018

The National Bank of Georgia won the 2018 Global Inclusion Award in the category of Regional “Country Award”. The Ministry of Finance of the Russian Federation was named in this category together with the National Bank of Georgia. This is the second time the National Bank of Georgia (NBG) listed …

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TBC Bank and DEG Signed 70 Million USD Loan Agreement

TBC Bank is Ranked as the 1st by Assets, While – the 2nd by Profit

TBC Bank attracted 70 million USD financial resource from Investment and Development Society DEG, which will be allocated for small and medium business financing for 7 years. “We are delighted with the professionalism of TBC Bank management and high quality products and services offered to small and medium businesses. We …

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British and Georgian Designers Rebrand Liberty Bank’s Logo

Liberty Bank, made significant change and rebranded its logo. As company representative told BPI British and Georgian designers have worked on the project. Liberty Bank has simplified the logo and it only says liberty  not Liberty Bank. The logo is simple, straightforward, creative and modern. The letter “B” highlights the …

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Salaries for Bank of Georgia Top Managers

Bank of Georgia stakeholders have approved rules of payment of salaries to members of the supervisory board. Starting May 21, 2018 salary of the supervisory board members was determined in the following amount: Annual salary for the supervisory board membership (before tax deduction): Head of supervisory board– 210 313 USD; …

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Loans Larization Coefficient Rose to 44.9%

NBG

Crediting volume of commercial banks (including loans issued to nonresidents) rose by 239.6 million GEL in May compared to April (+1.1%) and constituted 22.9 billion GEL as of June 1, 2018. According to National Bank of Georgia (NBG), in the same period volume of GEL-denominated loans rose by 89.3 million …

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Commercial Banks Issued 240 million GEL Loans in May

In May 2018 volume of GEL-denominated loans in commercial banks rose by 157 million GEL (without interbank loans), while foreign currency denominated loans increased by 18 million USD. As a result of GEL exchange rate devaluation, the volume of foreign currency denominated loans rose by 92 million in GEL equivalent. …

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Commercial Banks’ Profits Rose by 70 million GEL in May

In May 2018 the Georgian banking sector’s profits made up 68 million GEL, up 13% month on month (60 million GEL profits in April 2018). The Georgian banking sector registers 13 profitable banks with ∑364 million as of April 1, 2018 (∑292 million as of May 1, 2018). Statistics of …

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BSTDB’s Local Currency Loan to TBC Bank Helps Georgian SMEs

The Black Sea Trade and Development Bank (BSTDB) provides a 120 million Georgian Lari loan (equivalent of USD 50 million) to TBC Bank to finance investments and working capital needs of Georgian small and medium-sized businesses (SMEs). This is the second local currency SME facility that BSTDB extends to TBC …

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