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Tag Archives: NBG

Online Credit Companies Issue Credits with 1100% Interest Rate

Online credits in Georgia yield annual efficient interest rates from 500% to 1100%. However, these credit organizations do not lack clients and borrowers, anyway. The fact points to financial ignorance of the population and the fact extremely impoverished residents do not care for outcomes while trying to gain today’s piece …

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Turmoil around Financial Supervision Agency

Disputes around introducing the Financial Supervision Agency have surfaced again. The Constitutional Court of Georgia has abstained from passing a rush decision on the suspended agency. Essential court discussion has not been appointed yet. Meanwhile, the jobless staff of the Agency asks the Parliament to tackle issues with salaries and working conditions. …

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Foreign Exchange Reserves of Georgia Totals to 2.5 billion

Foreign exchange reserves georgia

Georgia owns Foreign exchange reserves of 2.5 billion USD by January 1, 2016. The growth amounts to 1,6% in December. While decline of 6,6% has been fixed year-over-year. NBG made intervention of $20 million in December, while brought $20-20 million in November and October. However, $26 960 000 were sold …

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The President Plans to Name Board Members of NBG Until the End of January

The President continues consultations for selection of board members of NBG and supposedly, it should be finished until the end of January, – George Abashishvili, head of Presidential Administration has declared about it to the reporters. The new candidate should replace George Kadagidze, president of National Bank of Georgia on …

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Georgia’s Banking Sector Looks to 2016 with Optimism

The Fitch rating for the Georgian bank sector is “Stable”. This signifies considerable reserves of commercial banks will compensate the quality of assets affected by the GEL depreciation. The 36% devaluation was the main challenge in 2015. The bank sector has showed steadiness amid the GEL depreciation, GDP growth slowdown …

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Economist Assesses Georgia’s Devaluated Economy in 2015

GEL Devaluation

The GEL exchange rate depreciation is considered a main economic event in 2015. Until October 2015, the national currency was volatile and vulnerable to devaluation in relation to both EUR and USD. The GEL devaluation process broke out in autumn 2014. In the end, the national currency volatility period ended …

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NBG Strengthens Its Policy Rate By 50 Basis Points To 8.0%

The Monetary Policy Committee (MPC) of the National Bank of Georgia met on December 16, 2015 and decided to increase the refinancing rate by 50 basis points to 8.0 percent. The monetary policy decision is based on the macroeconomic forecast, according to which the tightening of the monetary policy by …

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National Bank of Georgia Launches Legal Document Search Program

National Bank of Georgia has launched online search portal to allow people to search for latest bank information and legal documents in the financial sector. The document search system will enable customers to search for documents by entering their required information into a search bar and several filters including status, …

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George Kadagidze: Inflation Target Will Be at 3% Point in 2017

George Kadagidze, president of National Bank of Georgia links the loan rate increase to the strengthening of monetary policy and GEL devaluation. George Kadagidze noted at the final meeting, as the President of NBG with the members of Business Association, that the regulatory bank guides with mortgage and business crediting …

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NBG Outlines Current Banking Trends in Georgia

RATING OF COMMERCIAL BANKS IN TERMS OF TOTAL ASSETS, STOCK CAPITAL, TOTAL LOANS, TERM DEPOSITS, NET PROFITS AND RESERVES ON EXPECTED LOAN LOSSES (AS OF 31.03.2015)

The number and sum of deposits made in Georgian banks is growing, shows current trends published by the National Bank of Georgia (NBG). The total amount of non-bank deposits in the country’s banking sector by November 1, 2015 was 13.9 billion GEL. This was an increase of 0.4 percent or …

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The Secondary Market of Securities is “Frozen”

The Secondary Market of Securities is "Frozen"

According to the statistics of National Bank of Georgia (NBG), trade volume does not exceed 50,2 million GEL at the secondary market of securities and the deal has not been made since May. To note, over 78%, 33,9 million GEL (nominal value) is made on the securities of NBG, annual …

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Inflation Trends Intensify

Inflation Georgia

National Bank Keeps Raising Monetary Policy Rate to Curb Inflation, but in Vain. In October 2015, Georgia’s inflation rate marked 5.8% as compared to the same period of 2014. The inflation rate made up 0.8% compared to September 2015. The annual inflation upturn has more hit regions than the capital …

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