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Tag Archives: NBG

Discontent Against Commercial Banks Grows

Claims Against Commercial Banks in 2017 Rose by 140%. In 2017, claims against commercial banks submitted to National Bank of Georgia (NBG) rose by 140%, according to the NBG report for 2017. The NBG department for consumer rights protection registered 3,269 claims in 2017, including 2,329 (71%) claims submitted by …

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Two Commercial Banks to Pay Fines of 1.9 million GEL

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

For the purpose of protecting requirements of the law against illegal revenues legalization, the National Bank of Georgia (NBG) has inspections various financial companies. As a result, fines imposed on non-bank financial institutions made up 712 750GEL. According to the 2017 report by NBG, a total of 95 currency exchange …

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National Bank Bans Issuing Bank Loans to Insolvent Clients

Insolvent

What to expect from new regulations? The president of the National Bank of Georgia (NBG) has passed a decree to add changes to the Provision on the Concentration of Credits at Commercial Banks and Big Risks. The changes aim to protect consumer rights and bolster healthy credit portfolios at commercial …

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Inflation Declines – General Price Level Rose by 4.3% in January

In January 2018, as compared to December 2017, inflation level constituted 0.6%, while annual inflation rate made up 4.3%. In December 2017 the annual inflation rate marked 6.7%,  averaged inflation level (comparison of 12-month averaged indicator with the previous 12-month averaged indicator) made up 6.1%, while National Bank of Georgia …

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Government should Leave Fiscal Space for Major Infrastructural Projects

“Government strategy for the state budget calls for cutting the accrued expenses to leave fiscal space for major infrastructural projects”,  Francois Painchaud, IMF Resident Representative in Georgia, told the BM.GE. Salaries constitute one of the key components of the accrued expenses. “In 2017 the Government managed to cut expenses. Government …

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NBG Predicts 4.5% Economic Growth in 2018

The National Bank Of Georgia Continues Sharing Its Experience On Prudential Supervision

According to the National Bank forecasts, growth in GDP in the year of 2018 will be 4.5%. According to the forecast, GDP growth will have positive contribution as net exports, as well as consumption and investments, which will result in external inflows, improvement of business climate and capital expenditure of …

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Koba Gvenetadze Announces 2018 As A Year Of Financial Education

The governor of the National Bank of Georgia, Koba Gvenetadze has announced 2018 to be “a year of financial education” and discussed plans that will be implemented together with financially literate society, who will no longer be afraid of exchange rate volatility. The governor also reviewed the major challenges of …

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Challenges Faced by the Real Estate Sector in 2017

property Georgia

De-dollarization has been one of the main challenges for the Georgian real estate market in 2017. Following the devaluation of the Lari in 2016, the government of Georgia and the National Bank of Georgia (NBG) jointly designed a plan of ‘Larization’ of loans. The relevant legislation came into force on …

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2018 – Year of Financial Education

lari

In 2018 Government of Georgia expects that the reforms will justify, while business sector and consumers expect their revenues to grow. At the same time, all social groups want that an inflow of investments rise in the country. The banking sector represents a cornerstone for everybody, because both corporate and …

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Assets of Commercial Banks Grow

NBG

As of December 1, 2017 the Georgian banking sector registers 16 commercial banks, including 15 ones with foreign capital in the authorized capital. According to the National Bank of Georgia (NBG), in November total assets of commercial banks of Georgia rose by 1.1 billion GEL (+3.2%) compared to October and …

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