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Tag Archives: NBG

Basel Committee On Banking Supervision Once Again Invited The NBG To Develop New International Supervisory Approaches

Basel Committee On Banking Supervision Once Again Invited The NBG To Develop New International Supervisory Approaches

The National Bank of Georgia (NBG), as a member of Basel Consultative Group (BCG), continues working within the Basel Core Committee’s Supervision and Implementation Group. This group works on implementing advanced approaches in international supervisory policy, and the principles that it develops constitute international standards. The National Bank of Georgia, …

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Results Of The Currency Auction for NBG

Results Of The Currency Auction for NBG

On May 10, 2016, the National Bank of Georgia purchased 20 000 000 USD on its Foreign Exchange Auction. The weighted average exchange rate was 2.2132. It should be noted that National Bank of Georgia had purchased such big amount of foreign currency (USD) 2 times in last week. Totally the amount made up …

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National Bank’s International Reserves Grow by 29 million USD

Reserves

In March the official international reserves of the national bank of Georgia (NBG) increased by 29.4 million USD as compared to February 2016. In the reporting period, the NBG increased reserves by 15 million USD at currency auctions. Transactions carried out at the treasury have also replenished the reserves. In …

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Koba Gvenetadze: Loans must not Worsen Borrower’s Economic Conditions

Koba Gvenetadze

The country should pay more attention to online loans system, the national bank’s president Koba Gvenetadze noted. The Baltic Countries have developed a good experience in terms of online loan regulations and currently, we are studying this experience. It is upon the Authorities to determine which instance will regulate the …

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IMF Appoints Georgia’s NBG President As Acting Manager

Koba Gvenetadze Elected as National Bank Board Member

Koba Gvenetadze, the President of the National Bank of Georgia (NBG), has been appointed as an acting manager of the International Monetary Fund (IMF) from Georgia. Koba Gvenetadze has replaced Giorgi Kadagidze on the mentioned position. The corresponding decision passed by the Government of Georgia on appointment of Koba Gvenetadze …

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Online Credits for Enslaving Agreements

Credits in Georgia

In reality, the government and the national bank of Georgia (NBG) have only exchanged several considerations around the issue. Practical steps still remain far away. Moreover, no legislative process is underway on the issue yet. While the Authorities mull over how to resolve the problem, the quantity of online credit …

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Georgia’s Central Bank Buys $10 mln at Currency Auction

Dollar

Result Of The Currency Auction revealed today, National Bank of Georgia (NBG) reports on their website. The National Bank of Georgia purchased USD 10 000 000 on its Foreign Exchange Auction. The weighted average exchange rate was 2.2981. Two months ago Georgia’s central bank sold $20 million at a foreign-currency auction …

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Georgia’s Commercial Banks’ Profits Shrink

The bank sector’s profits in February 2016 marked 16 million GEL, down by about 300% year on year. The figure has increased by 18% as compared to February 2014. As of March 1, 2016, six commercial banks have ended the reporting period in losses (∑6.1million). The Georgian bank sector currently …

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Lari Gains Value: Analysis

Lari currency/Georgian money

The GEL exchange rate has been extremely strengthening for the past two weeks. From February 26 to March 18 the GEL exchange rate against USD has strengthened by 0.17 GEL. According to the official exchange rate of the National Bank of Georgia (NBG), the GEL exchange rate against USD stood …

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