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Tag Archives: Commercial banks

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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Capital Requirement for Commercial Banks Grows on January 1

Capital requirement for commercial banks will grow to 30 million GEL starting January 1, 2018. The first phase of the 30/40/50 million obligatory requirement will expire at the end of 2017. Increased coefficient of capital adequacy will be also introduced on January 1, for additional buffers created under various signs …

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Commercial Banks Rather Harm Economy than Benefit

When appointed as the National Bank President, Giorgi Kadagidze sharply criticized commercial banks and blamed them for frustrating economic development. However, the time passed and Kadagidze has never dared anymore to make sharp statements in relation to commercial banks. We have not heard sharp statements from the current president of …

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How Much USD do Commercial Banks Buy and Sell?

National Bank of Georgia (NBG) published indicators about the volume of USD Georgia-based commercial banks buy and sell in Georgia. In 2013-2016 commercial banks used to buy 13.5bln USD and sold 14bln USD a year on average. This signifies commercial banks used to supply more USD to the currency market. …

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Rating of Commercial Banks in terms of Crediting Portfolio, TBC is Leader

Rating of Commercial Banks in terms of Crediting Portfolio, TBC is Leader

Crediting portfolio of commercial banks accounts for 20.2bln GEL as of October 1 (Q3/2017), including loans and credits issued to nonresidents. According to National Bank of Georgia (NBG), Larization coefficient is 42.42%(Q2/2017 – 40.1%). At the October 25 briefing dedicated to the Larization campaign, NBG president discussed the 2016 trends, …

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Georgia-Based Commercial Banks have Increased Noninterest Incomes.

In January-September, noninterest incomes totaled 1.2blin GEL, up 509mln GEL year on year (+78%), including incomes from commission fees and services constituted 318mln GEL (Q3/2016 – 225mln). Time to time commercial banks have to safeguard the rate limited by the supervisor. Borrowers, who plan to pay off loans 6 months …

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National Bank Lobbying Commercial Banks

Several days ago National Bank of Georgia (NBG) released a special statement promulgating that corporate bonds are not insured by either Government or NBG guarantees. Therefore, NBG warns the population to show caution when purchasing bonds. Issuance of corporate bonds started in 2014 and several companies have already issued similar …

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Commercial Banks Invest 30 million GEL in Short-term State Securities

Commercial banks have invested 30 million GEL in short-term state securities. A total of 8 commercial banks took part in 1-year T-bill auction of Ministry of Finance. The demand constituted 88mln GEL, three times more compared to the supply. Averaged weighed interest rate totaled 7.13%. This year commercial banks record …

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