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Tag Archives: NBG

Banking Sector’s Revenues Grew in January-February Period


Banking sector’s revenues in January-February made up 558 million GEL, up 12% year on year. According to statistics of National Bank of Georgia (NBG), in the reporting period the banking sector’s expenditures totaled 105 million GEL (104 million GEL as of March 1, 2016), including staff expanses marked 92 million …

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NBG President: About 23% of Loans Converted into GEL


Currently, 75 million USD has been converted into GEL, Koba Gvenetadze, President of National Bank of Georgia (NBG), noted. “Moreover, we have also specified the list of loans that are subject to larization. About 23% of loans were converted into GEL. As to Larization process, in general, this is not …

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Back to the Past- National Bank Regains Supervision over Finance Sector

Sketch by Frits Ahlefeldt

At the end of February Government decided to return finance sector supervision functions to National Bank of Georgia (NBG). However, as a matter of fact, NBG had not lost supervisory functions in practice, despite in 2015 Parliament approved amendments to the Law on Commercial Banks, under which finance sector supervision …

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National Bank Vice President Comments on Bank Deposits Insurance Mechanism


Bank deposits insurance is one of the mechanisms for ensuring steadiness of finance sector, National Bank vice president Murtaz Kikoria told reporters. “Today the banking system is demonstrating the highest level of steadiness – bank capital adequacy, profitability, liquidity and steadiness indicators satisfy the highest standards. Consequently, it is better …

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Levan Surguladze Awaits Revision of Depositors’ Money from the National Bank

Levan Surguladze Awaits Revision of Depositors’ Money from the National Bank

The member of Financial Supervisory Council of 2008-2009 estimates the 2nd wave of separation of non-core assets and regulatory risks of banking holding companies. Levan Surguladze believes that monetary policy and financial supervisor must be separated; as it does not regulate number of sectors, neither banking nor microfinance and there …

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Larization in Georgian Economy


National Bank is Expected to Spend 400 million USD for Loans Larization, while Reserves were not Applied for Curbing National Currency Depreciation. Starting January 17, 2017 the so-called loans Larization program started. Physical bodies, who took mortgage loans in foreign currency before January 1, 2015, are able to convert them …

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Murtaz Kikoria: National Bank Wants to Regulate Bank Holding Companies

Murtaz Kikoria: According to our Forecast, Economic Growth will Reach 5% in 2016

National Bank of Georgia (NBG) is developing a new bill. NBG President Koba Gvenetadze told Business Contract that the bill will be discussed jointly with Parliament and representatives of various industries. NBG vice president Murtaz Kikoria told Business Contract that NBG plans to regulate bank holding companies – GROUPS ABOVE …

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