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Tag Archives: BGEO

Moody’s Upgrades Rating Of Bank of Georgia’s Senior Notes

BGEO Group PLC said Thursday that credit rating agency Moody’s Investors Service has upgraded the credit rating of unit JSC Bank of Georgia’s senior unsecured notes by two notches to Ba2. The outlook on the senior unsecured notes has been changed to stable, from rating under review. The credit rating …

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Chairman Irakli Gilauri Leaves Bank of Georgia

Irakli Gilauri

Within the division of BGEO, changes in the Bank’s Supervisory Board have already been officially registered. Irakli Gilauri moved to the Bank of Georgia’s Supervisory Board from September 2015, before that, he served as the General Director of “Bank of Georgia”from May 2006 to September 2015. Who will replace Gilauri …

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BGEO: Economic Growth in 2018 will Be About 5%

The BGEO Group supervisory board chairman expects a 5% economic upturn in 2018. Irakli Gilauri told the Bonds&Loans that Georgia has attained a quite impressive economic upturn in January-September amid the regional tendencies. Introduction of the so-called Estonian Model has preconditioned economic growth in Georgia, Gilauri added. “We follow the …

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Changes in Bank of Georgia and BGEO Management

Changes have taken place in the management of Bank of Georgia and BGEO. Namely, David Tsiklauri was appointed a deputy director general of Bank of Georgia with focus on financial direction, Levan Kulijanashvili – deputy director general with focus on operational direction and Vasil Khodeli – deputy director general with …

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London Stock Exchange Makes Deals on 456 000 BGEO Shares

Price of Bank of Georgia shares (BGEO LN) at London Stock Exchange (LSE) made up 32.92-34.83 GBP (L/m – GBP34.25 – 35.90). The price declined by 4.3% week on week, by 7.84% month on month. According to G&T analytics, deals were made on more than 456 000 shares (60 000 …

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BGEO’s Bank of Georgia Signs One-year $75m Facility

BGEO Group subsidiary JSC Bank of Georgia has signed a one-year $75m club trade finance facility arranged by Citi in collaboration with the bank’s long-term partner international financial institutions Asian Development Bank and International Finance Corporation. The FTSE 250 firm said the facility is the fourth successful syndication arranged by Citi for JSC Bank of Georgia, and …

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BGEO Wins Contract to Upgrade Tbilisi Metro Ticketing System

BGEO Group announced on Tuesday that its banking business subsidiary, JSC Bank of Georgia, won an auction organised by Tbilisi City Hall for the modernisation of the public transportation payment system in Tbilisi, Georgia. The FTSE 250 company said that as a result, Bank of Georgia would continue as the sole provider of payment support services …

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Kakha Kiknavelidze: BGEO Separation will Affect Bank’s Corporate Portfolio

Splitting BGEO in investment and banking segments will make effect on corporate portfolio. These changes will move the group to a new stage of development, after 10-year successful period. The bank maintains leading ambitions and will carry out aggressive marketing campaign for positioning, Kiknavelidze said. After the separation, the bank …

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Irakli Gilauri: Divided Companies Will be More Successful

The Devaluation Revealed the Strongest Economy of Georgia

After the division BGEO Group as investment and banking businesses, chairman of BGEO Investment expects more successful time for both of the companies. Irakli Gilauri says that investors also assess the division positively, as recently prices of stock increased by 4% I think that division will be reflected in a …

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GGU Will be Fourth Company To Be Listed on LSE

BGEO Investment prepares its businesses for IPO. Chairman and Chief executive officer, Irakli Gilauri says that company continues investing in energy field. “GGU is our fourth company to be listed on London Stock Exchange, company will continue to invest in energy sector, we look positively towards energy direction, he says. IPO …

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BGEO Differentiates Banking and Investment Businesses

BGEO Group has released a statement on separation of banking and investment businesses. Namely, Bank of Georgia and the group’s investment business will be shaped separately. Previously, BGEO Group unites both Bank of Georgia and the investment business. The latter direction unites Georgian Healthcare Group, Georgian Global Utilities (owner of …

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BGEO to Start Construction of MestiaChala1 and MestiaChala2 HPPs

BGEO company plans to start constructing MestiaChala1 and MestiaChala2 hydro power plants (HPPs). MestiaChala power station will be constructed in Skhvaneti and will generate 50 megawatt power. The project’s investment value is 65 million GEL. Official ceremony of inauguration of construction works will be attended by Minister of Energy Kakha …

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