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Tag Archives: NBG

Georgia – Leader in Region in Terms of Economic Growth Pace

Georgia’s economy has recorded favorable growth indicators in the first quarter of 2017, Geostat, the national statistics service of Georgia, reports. In March 2017  the real GDP growth rate marked 5.3%, as compared to the same period of 2016, while the averaged real growth in the first quarter marked 5%. …

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Retail Loans Dollarization Shrinks by 4.6% in 3 Months

dollarization

In March 2017 deposits dollarization coefficient has insignificantly increased. According to National Bank of Georgia (NBG), in March (as of March 17), deposits dollarization coefficient made up 70%, up from 69.8% in February 2017 and down from 70.4% in January 2017. Unlike deposits, in March loans dollarization level declined to …

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Ministry Of Finance Of Georgia Treasury Note Auction Results

Georgian LARI Strengthens to New Highs

On May 10, 2017, GEL 30 000 000 2-year Ministry of Finance Treasury Notes were sold at the Auction held at NBG. Five commercial banks participated in the auction. The total demand amounted to GEL 56 300 000. Minimum yield was 7.900%, maximum yield was 7.980% and the weighted average …

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National Bank of Georgia and Microsoft Georgia Announce Cooperation

National Bank of Georgia and Microsoft Georgia held discussions on the topic of cloud computing and the supervision of outsourcing risk and announced their readiness for cooperation in the sphere of Cloud computing in the financial sector within the country. The operational risk regulation of the National Bank of Georgia does …

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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

lari

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

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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