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Budget- 2014 not to be Fulfilled

“Rezonansi”  daily writes that  an analysis of 11 months of 2014 shows that this year’s state budget will not be  fulfilled  – despite the fact that a few days ago Finance Minister Nodar Khaduri stated that the budget would be 100% fulfilled.  It is unclear what was the basis of …

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Georgian National Bank leaves monetary policy rate unchanged

The monetary policy committee of the Georgian National Bank decided on December 17 to leave the refinancing rate unchanged. The monetary policy rate is 4 percent. The economic trends have recently deteriorated with the countries – major trading partners. This affects the Georgian economy, the National Bank told Trend. A …

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TBC Bank and PayPal launch partnership in Georgia

TBC Bank, innovative Georgian next-generation financial institution launches its cooperation with global payment provider PayPal in order to offer TBC Bank customers an easy and quick way to create PayPal accounts. Due to PayPal, all TBC Bank customers will be able to create PayPal account directly from their TBC Bank …

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TBC Bank and Bank Constanta merger to take place in January

11.12.2014 – TBC Bank/Bank Constanta merger process has begun. The merger will be legally registered in January of 2015. This decision was made at the TBC Bank shareholders’ general meeting because of the new challenges that exist on the microfinance market and the high potential for growth in this business. …

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State Development Corporation to be Established in Georgia

“Commersant”  reports that the German Development Bank (KFW) will assist the Georgian government in establishing the  State Development Corporation. According to  the parliamentary majority  leader David Saganelidze, KFW will provide about 350 000 Euro for a research about the prospects for the creation of such a structure in Georgia, and …

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PASHA Bank Awarded the Winner of the Georgian Panorama

PASHA Bank, a full service corporate bank, sponsor of Georgian Panorama, on 15th Tbilisi International Film Festival, awarded “I am Beso” by Lasha Tskhvitinidze as the winner of the Georgian National Competition. The 15th TIFF took place during the first week of December. Contributing to the development of film industry …

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Whether the Same Fate Awaits for Rustavi Automarket as PrivatBank’s Subsidiary?

Auromarket Autopapa’s Autoparty  founded by the Ukrainian PrivatBank which operates in the city of Rustavi  does not expect radical changesafter the acquisition of the bank’s subsidiary by Bank of Georgia.  General Director of the automarket Yevgeny Ustinov  told Commersat. “One of the founders of our market is the UkrainianPrivatBank as well …

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Exclusive – A Person Invited from Abroad may be Appointed President of Cartu Bank

“Commersant” reports that Georgian   Bacho Kobakhidze invited from abroad  will  supposedly replace  Nodar Javakhishvili on the post of  Cartu Bank President. The candidate’s current position and activity  is still unknown.  As for Nodar Javakhishvili, he, reportedly, will replace Deputy Minister of Regional Development and Infrastructure Zurab Kopadze. “Given the fact …

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