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Tag Archives: TBC Bank

TBC Bank Announces about Completion of Deal over Bank Republic

TBC Bank Announces about Completion of Deal over Bank Republic

TBC Bank has become owner of 100% stake in Bank Republic. The transaction ended yesterday, on October 20, under which, Scoeiete Generale and European Bank for Reconstruction and Development (EBRD) sold 100% stake of Bank Republic to TBC Bank. The deal value has been paid and shares will be registered at …

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Progress Bank License For Banking Activity Cancelled

Shareholders of Progress Bank has decided to cancel licence for banking activities and become non banking service operator institution. On the basis of mentioned decision, with the order of president of National Bank of Georgia, license for banking activity of Progress Bank has been cancelled and bank started its liquidation process. …

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LSE Records Deals on 2 million TBC Shares

tbc-bank

Deals worth 24 million GBP (30 million USD) were made on more than 2 million shares of TBC at the London Stock Exchange (LSE). 1 924 925 shares constitute 3.5% ratio in total issuance. Last week price of a TBC share ranged from 12.6 to 12.75 GBP (L/W – GBP12-12.7). The …

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Deposits Placed in the Banking Sector are Reduced by 235 Mln

Deposits Placed in the Banking Sector are Reduced by 235 Mln

The volume of deposits is diminished to the banking sector. As of September 1, the deposit volume totals to 14, 6 billion GEL (-1,6% m-o-m) at the expense of demand deposit decline. Term deposits are grown by 5.2 million GEL, demand deposits are reduced by 240 million GEL. According to NBG, larization …

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It’s Time To Transform Commercial Banks into Investment Banks in Georgia

“It’s right time to transform commercial banks into investment ones in Georgia,”President’s economic advisor, told the Business Contact. Maia Melikidze has evaluated the acquisition of Bank Republic and stated that market still remains two large players such as TBC and Bank of Georgia. As for her for the better growth of the country, …

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More than 60% of Georgian Banking Sector is Traded Under Premium Listing

More than 60% of Georgian Banking Sector is Traded Under Premium Listing

Receive of TBC Bank in a premium listing of London Stock Exchange (LSE) has been celebrated. The official event was attended by MamukaKhazaradze, chairman of Supervisory Board of TBC Bank, representatives of the banks, Dimitri Kumsishvili, minister of Economy and Koba Gvenetadze, president of NBG. “Premium Listing for TBC Bank …

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Deposits Yield Drops to Historical Bottom

Deposits Yield Drops to Historical Bottom

Deposits yield has dropped to historical minimum. The interest rate has even zeroed on currency demand deposit. Liberty Bank provides highest yield on GEL- and USD-denominated deposits with 1-year maturity period.     GEL USD-EUR 1 Liberty Bank 10,5% 4%●1,5% 2 Bank Republic 9,5% 3,5%●1% 3 Bank of Georgia 8,0% …

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TOP-3 Commercial Banks in terms of Deposits Placement

TOP-3 Commercial Banks in terms of Deposits Placement

70% of retail and corporate deposits have been placed at three commercial banks and total portfolio exceeds 1 billion USD. A major part of retail and corporate depositors show trust to TBC Bank and Bank of Georgia.     01.09.16 01.08.16 1 Bank of Georgia 4 680 119 4 782 …

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Fitch Sees Risks of Georgian Banking Market’s Close Down

Fitch Sees Risks of Georgian Banking Market’s Close Down

Fitch focuses attention on dominance of the two large institutions, TBC Bank and Bank of Georgia, after the acquisition of Societe Genreale by TBC Bank at 300 million. In her interview with The FINANCIAL, Olga Ignatieva, Senior Director at Fitch Ratings CIS Ltd notes, that TBC Bank and Bank of Georgia, …

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