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Bank Credo Annuls Dream Card

Credo has annulled Dream Card. Those, who own pupils card, are able to move their balance from Dream Card to Pupils Card, while only debit function is maintained to all other cards. Dream Card, or installment payment card, was applicable for buying equipment or other things, fertilizers and other agriculture …

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Banking Sector’s Profits Grow

The Banking Sector’s Profits in last years Exceeded the 2001-2013 Profits Twice According to the National Bank of Georgia (NBG), in 2017 net profits of Georgia-based commercial banks (profits after profits tax) made up 870 million GEL, up 191 million GEL as compared to the 2016 indicators (+28%). Net profits …

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Problem Loans in October Increased by 726 Mln in Banking Sector

Problem loans in the banking sector increased by 726 million GEL (Q3 / 2017 – 660 mln) in October, the growth is partially caused by exchanging course, as the Georgian Lari’s equivalent depreciates in the equivalent of the dollar. The share of non-performing loans in respect of the total portfolio …

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The Rating of Lucrative Banks – BasisBank Shows the Highest Growth

Among the profitable banks, BasisBank showed the highest growth in September, + 15.1% m.m. 13.4% were “Bank of Georgia” and 12.6% was “TBC Bank” profit growth indicator. As of October 1, there is a profit of 15 out of 16 banks. Q3/2017 ●01.09.2017 Lucrative million million Bank of Georgia 286.710 252 …

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Basisbank Expands Network of Service Centers

Basisbank has expanded its network of service centers. The new service center N1 has opened in Zugdidi. Currently, the bank owns one service center in Gori, Kutaisi and Telavi, 3 service centers in Batumi. In whole, the bank manages 22 service centers all over Georgia. In June Basisbank renovated several …

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Rating of Commercial Banks due to ROE

Bank of Georgia is leader in terms of Return of Equity (ROE). ProCredit Bank was ejected from the list of Georgia’s top five major banks (7.3%). Only two commercial banks of 16 ones have ended the first half of 2017 in negative indicators (IS Bank and Finca Bank).   ROE …

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Finance Minister: Chinese Bank will Be Commercial By 100%

Kumsishvili: We Do Not Manipulate with Expectations of Currency

Government of China will maximally support Chinese Bank to get established on Georgian market and this bank will be a commercial body by 100%, Minister of Finance of Georgia Dimitri Kumsishvili said. “Active work is being carried out with National Bank. In China we signed a document and the company …

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Bank of Georgia is the Leader of Profitable Banks

Bank of Georgia is the Leader of Profitable Banks

Bank of Georgia’s profit has made up 36 million GEL in February, it is 40% of the sector’s profit (01/17 – 35.8 million). Profitability ratios are the highest – Return on Assets (ROA) is over 4.33% and Return on Equity (ROE) – 40.14% (01.17 – 4.22%: 40.66%). As known, the …

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Giorgi Papava: Banks did not sell Larization of Loans as a Product

Economists explain less interest of population towards larization program by fewer activities of banks. Economist Giorgi Papava regards, that banks have not sold larization of loans as a product. They do not convince customers to apply loans in GEL with the same effort as they do in the case of …

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Trouble-free 100 Days

TeraBank

Trouble-free 100 days – or how to relax from loan interest rates, when I need money urgently?! Only Terabank provides a valuable answer to this question, at this stage. To finance the New Year preparations, travel and general expenditures, the Bank offers a New Year gift to consumers. During 100 …

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