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Tag Archives: Bank of Georgia

EBRD to Open 100 million USD Credit Line for Bank of Georgia

EBRD to Open 100 million USD Credit Line for Bank of Georgia

 The European Bank for Reconstruction and Development (EBRD) plans to open a 100 million USD credit line for Bank of Georgia. According to the EBRD official website information, Bank of Georgia will receive the sum in two positions to serve three target directions, including for financing small and medium sized …

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Price of Bank of Georgia Shares Rise at London Stock Exchange

Price of Bank of Georgia Shares Rise at London Stock Exchange

The price of Bank of Georgia shares (BGEO LN) increased by 18.2% at  the London Stock Exchange (LSE). The session week closed by 19.13 GBP (15-20 November) (+18.23% w.w.).  The maximum price made up 19.62 GBP and the minimum price marked 16.58 GBP, according to G&T. In the reporting week …

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Bad Loans Account for 538.8 million GEL as of March 1

Bad Loans Account for 538.8 million GEL as of March 1

Volume of bad loans declined in the bank sector to 3.3% ratio in total loan portfolio. Nonperforming loans marked 538.8 million GEL as of March 1, 2016. Bad loans (nonstandard, doubtful, bad) are regulated by 30%, 40% and 1000% reserve requirements. Reserves for possible losses exceeded 1 billion GEL, including …

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Nodar Kapanadze: The Pharmacist and Insurer do not Have to Be Together

The Pharmacist and Insurer do not Have to Be Together

Nodar Kapanadze, an expert in the field of socio-economic issues made a statement in the TV program “Obiectivi” about the novelty of pharmaceutical sector. We are talking about the intention of Bank of Georgia Holdings Georgia Healthcare Group PLC (“GHG“), that plans to purchase pharmacy chain GPC.  According to Kapanadze, this fact implies to …

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Georgian Securities Market Became more Active

Georgian Securities Market Became more Active

Georgian companies began to issue securities – the companies associated with Bank of Georgia, in particular, the development company M2 and the Tbilisi water distribution company are actively engaged in this activity. Placement of shares on the stock exchange is provided by  a subsidiary of Bank of Georgia – Galt …

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Clearstream Opened Correspondent Account of GEL in Bank of Georgia

Bank of Georgia

Bank of Georgia announced about opening of correspondent account in GEL by International Central Securities Depository Clearstream in Bank of Georgia. According to the management of the Bank, national currency of Georgia – GEL has been added to the settlement currency of Clearstream, which becomes available to make operations in GEL …

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Security – Leading Bank’s Vulnerable Chain

Security Leading Bank’s Vulnerable Chain

Bank of Georgia Keeps Silent on Theft of Millions of GEL, Bank Shares Keep Depreciating on London Stock Exchange Bank of Georgia has been robbed. According to the bank’s official statement, the criminal case took place on October 24. According to media agencies, felons have stolen 10 million GEL from …

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Murtaz Kikoria Appointed as CEO of BoG

Murtaz Kikoria-BoG

Murtaz Kikoria has been nominated as the new Chief Executive Officer of Bank of Georgia. Kikoria will take over Irakli Gilauri’s former position, while Gilauri will become a board member of the Bank. Prior to this nomination, Kikoria occupied the post of a Deputy Executive Officer since December 2014. Prior …

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#June13: A Month Since the Tragedy

The State Budget Mobilizes over 25 million GEL The June 13 natural disaster in the Vere Gorge has sacrificed 20 individuals. Three citizens are still missing. The flood has inflicted losses and damages to about 160 families. Part of the houses will be rehabilitated, while 10 families are still unsheltered. …

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Mortgage Regulations not Brought Results

Laws restricting private mortgage lending have failed to remedy the situation in this sector as part of the moneylenders went underground. They managed to find loopholes in the law and enacted  the new scheme – for example, the law defines the maximum amount of interest on the loan, but now …

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