Home / Tag Archives: National Bank of Georgia (page 4)

Tag Archives: National Bank of Georgia

National Bank of Georgia has Set a New Exchange Rate

National Bank of Georgia has Set a New Exchange Rate

GEL has dropped against USD, while strengthened against EUR. National Bank of Georgia has set a new exchange rate by September 20, according to which price of 1 USD will become 2,3167  GEL, 1 EUR /2.5866 GEL. Starting with September 19, the GEL has devaluated by 0.0056  point  against USD, …

Read More »

National Bank Forecasts Low Inflation Rate

National Bank Forecasts Low Inflation Rate

The national bank of Georgia forecasts low inflation rate in the next months. “In August consumer price inflation rate declined to 0.9% and this tendency meets the existing prognosis. Base effect completion makes important influence on inflation rate reduction. The weak joint demand  also promotes inflation slowdown. Under the current …

Read More »

National Bank Lowers Monetary Policy Rate to 6.5%

National Bank Lowers Monetary Policy Rate to 6.5%

The Monetary Policy Committee (MPC) of the National Bank of Georgia (NBG) met on September 7, 2016 and decided to reduce the refinancing rate by 25 basis points to 6.5 percent. The monetary policy decision is based on the macroeconomic forecast, according to which the phasing out of tight monetary …

Read More »

Temporary Administration is Appointed by NBG in “Caucasus Development Bank-Georgia”

Temporary Administration is Appointed by NBG in “Caucasus Development Bank-Georgia”

National Bank of Georgia (NBG) adopted decision to appoint temporary administration in “Caucasus Development Bank-Georgia”. According to NBG, the fact is not caused by the problems of the bank, operating in Georgia, but by the processes developed around Azerbaijan-based mother bank. Assets of “Caucasus Development Bank-Georgia” amounts 0.14% of total banking assets. …

Read More »

Credit Portfolio of Commercial Banks Grows in June

Credit Portfolio of Commercial Banks Grows in June

In June 2016 the crediting portfolio of commercial banks (including loans issued to nonresident entities) has increased by 1.2 billion GEL (+7.8 month on month). The exchange rate growth without effect made up 2% month on month, according to the statistics by the National Bank of Georgia (NBG). The credit …

Read More »