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Tag Archives: Commercial banks

Commercial Banks Issued 240 million GEL Loans in May

In May 2018 volume of GEL-denominated loans in commercial banks rose by 157 million GEL (without interbank loans), while foreign currency denominated loans increased by 18 million USD. As a result of GEL exchange rate devaluation, the volume of foreign currency denominated loans rose by 92 million in GEL equivalent. …

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Discontent Against Commercial Banks Grows

Claims Against Commercial Banks in 2017 Rose by 140%. In 2017, claims against commercial banks submitted to National Bank of Georgia (NBG) rose by 140%, according to the NBG report for 2017. The NBG department for consumer rights protection registered 3,269 claims in 2017, including 2,329 (71%) claims submitted by …

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Two Commercial Banks to Pay Fines of 1.9 million GEL

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

For the purpose of protecting requirements of the law against illegal revenues legalization, the National Bank of Georgia (NBG) has inspections various financial companies. As a result, fines imposed on non-bank financial institutions made up 712 750GEL. According to the 2017 report by NBG, a total of 95 currency exchange …

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Georgian Banking System Hampers Economic Development

Mamuka Bakhtadze

Minister of Finance against Commercial Banks Georgian banking system frustrates economic development, Georgian Finance Minister Mamuka Bakhtadze said at TechnoPark, where a memorandum on implementation of digital Silkroad project was signed. «Bank loans with high interest rates frustrate development of entrepreneurship and business. The Georgian banking system is to drive …

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Commercial Banks Issued 15 billion GEL Mortgage Loans in 2017

Cartu Bank Profits Marked 5.6 million GEL as of May 1

In 2017 commercial banks issued 14.993 801 billion GEL mortgaged loans secured by residential spaces, according to the financial reports published by commercial banks for the fourth quarter of 2017. Namely, TBC Bank issued 6.080 480 billion GEL mortgage loans. Bank of Georgia – 5.689 112 billion GEL mortgage loans, …

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Overdue Loans Amounts Grows by 73.3 million GEL

Levan Surguladze Awaits Revision of Depositors’ Money from the National Bank

The amount of overdue loans rose by 73.3 million GEL in December 2017 and totaled 394.5 million GEL. The ratio of overdue loans in the crediting portfolio of commercial banks made up 1.8%. According to the National Bank of Georgia (NBG), 44.4% of overdue loans are denominated in GEL. In …

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Current Condition of Commercial Banks Loan Portfolio

Commercial Banks Earn 114.9mln GEL from Currency Exchange Operations in 1H17

The volume of lending by commercial banks (including loans to non-residents; excluding Credo Bank) in December 2017 increased by 133.7 million GEL or by 0.6 percent compared to the previous month (exchange rate effect excluded volume of lending increased by 3.5 percent) and constituted 21.7 billion GEL by January 1, …

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Rating of Commercial Banks in December

Rating of Commercial Banks in December

Consolidated profits of the bank sector exceeded 152.5 million GEL in December 2017. All commercial banks finished the month of December in profits, including Silk Road Bank. However, the latter bank’s annual losses constituted 495 555 GEL. The Georgian banking sector consists of 16 commercial banks, including 15 ones with …

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Commercial Banks Lower Deposits Interest Rate

Commercial Banks Lower Deposits Interest Rate

Key players on the retail deposits market have lowered deposits interest rates. TBC Bank and Bank of Georgia with 75% ratio on the market (4.4+3.7 billion) have reduced the annual interest rate to 9.4%. Liberty Bank (1.03 billion) cut the rate to 9% on Patriot deposit, while annual interest rate …

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Assets of Commercial Banks Grow

NBG

As of December 1, 2017 the Georgian banking sector registers 16 commercial banks, including 15 ones with foreign capital in the authorized capital. According to the National Bank of Georgia (NBG), in November total assets of commercial banks of Georgia rose by 1.1 billion GEL (+3.2%) compared to October and …

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Year of Economic Recovery – Key Economic Events in 2017

Georgian economy

After 2-year low economic growth, in 2017 Georgia’s GDP growth pace exceeded the planned indicator. It should be noted that in 2015-2016, along with currency crisis, economic growth in our country was under 3%. To be precise, GDP upturn in 2015 marked 2.9%, while the figure hit 2.8% in 2016. …

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