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Executive Director of Partnership Fund is not Concerned due to leave of Societe Generale

Executive Director of Partnership Fund is not Concerned due to leave of Societe Generale

“The main theme is to have strong market and financial institute, risk-free deposits, high yield and lower cost on the loans”, – main lobbyist of Chinese business, Executive Director of Partnership Fund is not concerned due to leave of Societe Generale.

As he declares, he does not have such emotions, because development of the sector requires  competitive market and the biggest Chinese business group will encourage the process.

In addition, it does not matter to Saganelidze, which group is behind the largest company, “the main topic is not who holds the share, but their quality is important”. To illustrate, he referred big participation of Chinese in the American film industry. As known, Bank Republic and Basis Bank have announcement on extend, the big French banking group stays in the structure with insignificant share and Chinese  “Huialing” will become the main shareholder.

Total capital amounts to 487 million GEL by Q1, the figure exceeds by 6,5 billion to the capital of TBC Bank ( – 453,8 million). As of the profits – 39,5 million, the bank is not closer with the leading banks. TBC Bank has a profit of 92,4 million, while Bank of Georgia –  113 million GEL. There is a big distance in terms of assets – 2,3 billion, TBC Bank’s assets exceeds 6 billion, Bank of Georgia – 8 billion.