Home / Banking (page 99)

Banking

Georgian Lending Paradox

“Mtskheta Food Company” which produces products under the “Golden Fleece” brand cannot resume operation due to the government-subsidized preferential agrolending program. In particular, the company’s  Director  Givi Giutashvili says  that banks participating in the program require a large  collateral for the loan and the company’s property is evaluated far below its market value. The fate …

Read More »

PASHA Bank – General Sponsor of International Chess Festival

PASHA Bank, a full service corporate bank, was the general sponsor of the 9th International Festival – Nana Alexandria Cup – 2014. Out of the 9 years of Festival’s history, Pasha Bank has been the largest sponsor of the Festival.  The 9th Poti International Chess Festival Nana Alexandria Cup – …

Read More »

ADB MAINTAINS DEVELOPING ASIA GROWTH FORECAST

Developing Asia remains on track toward steady growth in 2014 despite slower-than-expected growth in the United States (US) in the first quarter, says a new Asian Development Bank (ADB) report. The Asian Development Outlook (ADO) Supplement, released today, maintains ADB’s April forecast of 6.2% growth in 2014 and 6.4% in …

Read More »

TBC clients will get international consultants’ assistance

Small and medium-sized enterprises, which are clients of TBC, will get technical and consulting assistance from the foreign counselors. The bank informs that Business Support Program of TBC and Dutch technical assistance program PUM Netherlands senior experts gives this opportunity. Special contest will select 10 companies, which will be able …

Read More »

PASHA Bank Sponsors Adizes Methodology and 4D Branding Seminars

PASHA Bank, a full service corporate bank, sponsored seminars – A New Management Paradigm for a New Age of Managers, and 4D Branding – Surprise Branding. The events took place on July 11-12th  at the exhibition centre of Expo Georgia. ShohamAdizes, Vice President of Operations and Director of Training and …

Read More »

PASHA Bank Sponsors Business Development Forum

PASHA Bank, a full service corporate bank, sponsored the second Business Development Forum that was held on July 10th at the exhibition centre Expo Georgia. Advisory firms, financial services sector representatives and international donor organizations all took part in the event. Forum, which consisted of the exhibition and conference, provided …

Read More »

Lari Symbol to be Presented Today

Georgian national currency – Lari (GEL) has its own symbol. The presentation will be held at the National Bank of Georgia. As reported, several months ago, a temporary Lari Symbol Selection Commission selected the  5 best from 231 samples. The Georgian community was involved in revealingthe eventual winner as well. For this purpose, a survey …

Read More »

MFI Profits Rise Sharply

Consolidated profit of microfinance institutions amounted to GEL 18 million in the first quarter of this year, that is 30.2%  highercompared to the same period in 2013. As per March 31, 2013, a total of 80 microfinance institutions were registered in Georgia, by the end oflast year their number was 67. 13 of them do not have any employees or offices and branches. As of March 31, the total assets of MFIs totaled GEL853.1 million, which means a 17% growth. Liabilities reach GEL 635.2 million (a 18.2% growth). As for MFOs capital, it reaches GEL 217.8 million, …

Read More »

MFOs Reduced Financing of Trade

Microfinance organizations of Georgia issued loans amounting to GEL 661 million in 6 months of  2014, which is 18.2% more than in the same period of 2013. In the same period, commercial banks issued loans in the national currency in the amount of GEL 341.2 million, which is 2 times higher than in the same period of 2013, in foreign currency –  GEL 336 million, which is 39% less than in same period of 2013. Thus, the amount of loans …

Read More »

Value of Real Estate Put up for Sale by MFOs Doubled

MFOs share in the mortgaged property  put up for sale amounted to  4.5% as of the first half of last year. Chairman of the Association of Microfinance Organizations Archil Bakuradze told commersant.ge. He says  the number of borrowers increases,however, the amount of loans issued by MFOs is small. “Increased volume of repossessed property by  MFOs can have two reasons: a decline in purchasing power and a reduction in MFOs standards. However, we are working on an increase in the standards and in general, quality has not  deteriorated, “- says Bakuradze. …

Read More »