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Tag Archives: National Bank of Georgia

TBC Bank Paid 1.1 Million GEL Fine to National Bank of Georgia

Annual report of TBC Bank says, that the bank has paid  1,100,000 Gel ($400,000) fine to National Bank of Georgia. The report has been published today and it covers recent regulatory events. According to the report TBC has paid the fine on 12 March 2019. Matters Related to National Bank of …

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National Bank of Georgia Marks 100th Anniversary

It has been 100 years since the foundation of National Bank of Georgia. BM.ge was told that the entire year of 2019 will be dedicated to celebrate this anniversary through different activities: series of lectures, competitions, educational exhibitions, conferences, historic and cultural events.  National Bank of Georgia plans to organize …

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Georgia Won Against Russia In “Global Inclusion Awards” Of 2018

The National Bank of Georgia won the 2018 Global Inclusion Award in the category of Regional “Country Award”. The Ministry of Finance of the Russian Federation was named in this category together with the National Bank of Georgia. This is the second time the National Bank of Georgia (NBG) listed …

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Banking Sector’s Revenues Grow

The banking sector’s revenues have increased by 113 million GEL year on year (+20% year on year). In the first quarter of 2018 the sector’s revenues amounted to 941.5 million GEL. In the same period of 2017, commercial banks received 828 million GEL revenues. According to National Bank of Georgia …

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NBG Forecasts Annual Target Inflation to Be around 3%

Koba Gvenetdze Makes a Comment on Sharp Devaluation of GEL

National Bank of Georgia (NBG) expects the 2018 target inflation rate to be balanced on 3% indicator. NBG plans to mitigate monetary policy moderately in midterm period, the NBG President told the Reuters. The 2017 annual inflation rushed up to 6.7%, instead of balancing on 4% target indicator. In January …

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NBG: Current Account Deficit Falls to Historical Bottom

“The current account deficit has seen one of the historical bottoms”, National Bank President Koba Gvenetadze noted. The current account deficit has dropped to 2.9% and this is a serious progress, he said. “For appraising the 2017 performance, economic experts need indicators of 3 other months. However, we can talk …

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IMF COUNTRY FOCUS – Georgia Growing

IMF COUNTRY FOCUS – Georgia Growing

Georgia is in the focus of the International Monetary Fund (IMF). The Vice Prime Minister of Georgia and the President of the National Bank of Georgia (NBG) are responding to the IMF questions on the current situation and perspectives in the country. The interview was held during the annual meeting …

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NBG Vice President: Public Expectations Make GEL exchange Rate Volatile

NBG Vice President: Public Expectations Make GEL exchange Rate Volatile

GEL exchange rate volatility was preconditioned by public expectations after importers have intensified activities. Archil Mestvirishvili, National Bank vice president: We have noted that Georgia has set floating exchange regime, which is accompanied by market fluctuations. As to the factors affecting exchange rate, we have made comments on the issue …

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