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Tag Archives: banks

New Bill to Smooth Foreign Banks Licensing Procedures

NBG Reduces Its Policy Rate By 25 Basis Points To 6.75%

According to the bill on National Bank of Georgia (NBG), the list of documents to be submitted to NBG for obtaining a banking license is broadened: More detailed information must be submitted about the bank owner; The bank must submit business model and risks management documents approved by a supervisory …

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Assets of Commercial Banks Rose by 20.3%

Banking

Total assets of commercial banks marked 29.8 billion GEL as of April 1, 2017. Year on year growth marked 20.2% (24.727 billion GEL in Q1/2016). According to NBG, bank sector’s own resources account for 4.3 billion GEL, 14.5% in total assets of commercial banks. Georgian bank sector consists of 17 …

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Kakha Okriashvili: Banks to Engage with Secondary Activities

The founder of PSP Group , and parliamentarian, Kakha Okriashvili talks about negative factors for business. According to Okriashvili, inflation of GEL made an influence not only on pharmaceutical business but also other businesses. “Volatility of GEL made a negative influence on the whole business sector, because the feeling of …

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The MP Protects the Banks

The MP Protects the Banks

Georgian Prime Minister George Kvirikashvili protects banks and regards, that unproven claims are announced against banking sector in the resent period. “Georgian banking sector is one of the well-developed in our region. We have very important, developed financial institutes and their engagement in the reform process is essential. Any negative …

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Current Condition Of Commercial Banks’ Loan Portfolio

The volume of lending by commercial banks (including loans to non-residents) in August 2016 decreased by 185.6 million GEL or by 1.1 percent compared to the previous month and constituted 16.4 billion GEL by September 1, 2016 (exchange rate effect excluded it increased by 0.1 percent). The volume of loans …

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Current Condition Of Commercial Banks’ Loan Portfolio

The volume of lending by commercial banks (including loans to non-residents) in May 2016 decreased by 274.0 million GEL or by 1.8 percent compared to the previous month and constituted 15.2 billion GEL by June 1, 2016. The volume of loans in the national currency increased by 10.3 million GEL …

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