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Tag Archives: NBG

National Bank Approves Rules for Prospectus of Company Shares and Bonds

NBG

National Bank of Georgia (NBG) continues reforming the capital market with the aim to develop the securities market. On October 12, 2018 as part of the supervisory framework development process, the NBG approved the rule for prospectus of company shares and bonds. Objective of this rule is to upgrade transparency …

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How Crisis in Turkey May Effect Georgia – Koba Gvenetadze Explains

“If the situation is not deteriorated in Turkey, we do not expect essential influence on Georgian economy”, Koba Gvenetadze, president of National Bank of Georgia (NBG) noted in his interview for the Global Finance. Turkey is Georgia’s major trade partner with 17% in imports and 8% in exports. Turkey holds …

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KPMG Georgia to Carry out Audit at National Bank

NBG Reduces Its Policy Rate By 25 Basis Points To 6.75%

KPMG Georgia will carry out an audit of the reporting of National Bank of Georgia (NBG). The corresponding draft resolution was prepared by the parliament’s finance and budget committee and it will be submitted to the parliament for voting. Under the resolution, KPMG Georgia is to audit the 2018-2019 reporting …

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Murtaz Kikoria Resigns from National Bank of Georgia

Member of the Board of the National Bank of Georgia, Vice-Governor Murtaz Kikoria has just resigned from the office. Mr. Murtaz Kikoria served as the Chief Executive Officer of JSC Bank of Georgia from September 2015 to September 7, 2016. Mr. Kikoria served as Deputy Chief Financial Officer of Finance …

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Competition on Banking Market Shrinks Year to Year

The banking sector is the key and biggest segment in Georgian economy. Despite commercial banks are considered as locomotives of the state economy, criticism against crediting institutions has been growing over the past years. Georgian citizens express complaint in many directions, including against expensive credits, high commission fees and fines, …

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Private Lenders without NBG Registration will Have no Right to Issue Loans

Private lenders that are not registered as loan issuing bodies at National Bank of Georgia (NBG) will be banned to issue secured loans to physical bodies. Under new amendments to the regulations for credit-information bureaus, financial organizations will not have voluntary option to cooperate with bureaus and all organizations under …

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Georgian Weekly Market Watch

NPLs at 2.4% in June 2018 In June 2018, the banking sector loan portfolio increased 18.4% y/y after growing 18.6% y/y in previous month, excluding the exchange rate effect. In unadjusted terms, loan portfolio was up 19.8% y/y and up 1.0% m/m to GEL 23.1bn (US$ 9.4bn). Deposits were up …

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Net Profits of Commercial Banks Shrink

According to National Bank of Georgia (NBG), net profits of commercial banks made up 47 993 000 GEL in June 2018. According to NBG indicators, the banking sector’s net profits halved year on year. According to the 2017 June indicators, the banking sector’s profits made up 95 882 000 GEL. …

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JSC International Bank of Georgia – Georgia Stripped of Banking License

NBG Reduces Its Policy Rate By 25 Basis Points To 6.75%

The meeting of stakeholders of JSC International Bank of Azerbaijan (IBAR) – Georgia has taken decision on cancellation of banking license and transformation into non-bank organization. Under the decree passed by the vice president of National Bank of Georgia (NBG), the banking license has been stripped from JSC IBAR – …

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