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Tag Archives: NBG

Murtaz Kikoria: National Bank Wants to Regulate Bank Holding Companies

Murtaz Kikoria: According to our Forecast, Economic Growth will Reach 5% in 2016

National Bank of Georgia (NBG) is developing a new bill. NBG President Koba Gvenetadze told Business Contract that the bill will be discussed jointly with Parliament and representatives of various industries. NBG vice president Murtaz Kikoria told Business Contract that NBG plans to regulate bank holding companies – GROUPS ABOVE …

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National Bank Raises Monetary Policy Rate by 25 Base Point to 6.75%

NBG

On January 25 Monetary Policy Committee of National Bank of Georgia (NBG) increased refinancing rate by 25 base point to 6.75%. The decision is based on macroeconomic forecasts, under which in 2017 inflation will be mainly above the target indicator. However, in 2018 inflation will decline and will be maintained …

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Debts of Commercial Banks Exceed 937 million GEL

20 GEL

Net debts of commercial banks exceeded 937 million GEL. According to statistics of National Bank of Georgia (NBG), correspondence account balance has risen to 573 million GEL. GEL-denominated balance has declined, while USD-denominated balance has increased. Obligatory reserves marked 2.6 billion GEL (2.5 billion GEL as of 01.11.16). Reserve money …

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Giorgi Kadagidze Talks about Simple Mechanisms for Overcoming Crisis

Giorgi Kadagidze

Giorgi Kadagidze,  the former president of National Bank of Georgia (NBG), has released a special statement on his own social network page. In his statement Kadagidze talks about simple mechanisms for recovering the state economy from crisis. This is an Estonian model of reacting to crisis situations (external shocks), when …

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Georgia’s c.bank Keeps Key Refinancing Rate Unchanged at 6.5 pct

NBG

Dec 14 Georgia’s central bank kept its key refinancing rate unchanged at 6.5 percent on Wednesday. Inflation in the South Caucasus nation was at 0.2 percent year-on-year in November, down from 6.3 percent the same month a year ago, remaining within the 5 percent target set by the government for …

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Two New Members are in the Supervisory Board of NBG

Two New Members are in the Supervisory Board of NBG

The parliament has approved three members in the Supervisory Board of NBG. Murtaz Kikoria, Archil Mestvirishvili and Robert Singletar are elected for 7-year term in the Board. The famous banker, Murtaz Kikoria returns to NBG from Bank of Georgia, where he has been occupying position of General Director, as for …

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JSC Capital Bank Stripped Of Banking License

capital Bank

According to decree by vice president of National Bank of Georgia (NBG), JSC Capital Bank was stripped of banking license. As a result, the Bank has moved to liquidation regime. Auditing process at JSC Capital Bank detected that the bank had ignored requirements for prevention of legalizing illegal revenues, as …

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