728x90
Home / Tag Archives: National Bank of Georgia (page 5)

Tag Archives: National Bank of Georgia

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 »

The Volume of Money Transfers Increased in June 2016

The Volume of Money Transfers Increased in June 2016

In June 2016, the volume of money transfers from abroad made up 105.4 million USD (230.6 million GEL), which is 4.9 percent (4.9 million USD) more than the amount in June 2015. According to National Bank of Georgia, 35, 9 million is transferred from Russia in June, 13, 2 million – …

Read More »

NBG: GEL Was Strengthened More than the Fundamental Factors Conditioned

NBG: GEL Was Strengthened More than the Fundamental Factors Conditioned

Vice-President of National Bank of Georgia estimates the recent drop of GEL rate. Archil Mestvirishvili explains, that commenting on instant change of GEL rate is not correct in order to avoid creation of expectations at the market. Manager of NBG names the reasons, which caused fluctuation of GEL rate. “Due to …

Read More »