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Tag Archives: National Bank of Georgia

Frequently Asked Questions Regarding The Program On Larization Of Loans

Frequently Asked Questions Regarding The Program On Larization Of Loans

Q&A for the program of conversion of loans to individuals in US dollar under real estate collateral before January 1, 2015 into lari loans. What does the program of FX bank loan conversion to lari mean?  The program includes a voluntary conversion of US dollar-denominated bank loans of individuals colalteralized …

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Russia’s Alfa Bank Enters Georgia

Russia’s Alfa Bank Enters Georgia

Commersant has learnt that the Russian banking giant Alfa Bank enters Georgia. According to the source, Alfa Bank  buys the assets of the Caucasus Development Bank-Georgia and  the audit service has entered into the bank. The National Bank of Georgia (NBG) has revoked thebank’s license  in September this year, as a …

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Georgia Borrowed More by $484 mln in 6 Months than Paid

Dollars

Georgia paid 702 mln USD for debt pay/ service in the H1 of the year, but borrowed more by 484, 3 mln. As of the statistics published on the web-page of NBG, the payments of 6 months, 2016 are as follows: Governmental sector paid 117, 4 million USD and borrowed …

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The MP Announces Regulations for Strengthening GEL

The MP Announces Regulations for Strengthening GEL

The Prime Minister announces regulations for strengthening and stabilization of GEL. The MP did not specify what measures should be taken by the new government jointly with the National Bank of Georgia. He linked another drop of GEL with the huge volume of negative trade balance. “Current changes are conditioned …

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President of NBG Made a Comment on GEL Devaluation

President of NBG Made a Comment on GEL Devaluation

President of National Bank of Georgia made a comment on sharp drop of GEL with media on Thursday. Koba Gvenetadze declares that it is difficult to make a comment on short-term fluctuations during the floating exchange rate. It should be noted, that various deals and expectations have impact on currency …

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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, …

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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 …

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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 …

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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. …

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