The National Bank of Georgia (NBG) has raised the monetary policy rate by 1% to 8.5%, the NBG press-release reads.
Koba Gvenetadze, president of the National Bank of Georgia (NBG) is attending annual meetings of International Monetary Fund (IMF) and World Bank (WB).
In 2019, TBC Capital has placed bonds of more than 6 companies at Georgian Stock Exchange (GSE). TBC Bank deputy director general Goga Tkhelidze noted that in October a major trade company will issue bonds.
Tightened monetary policy, currency interventions and lowered reserve requirements; does the National Bank’s policy genuinely work in relation to the GEL, and what is the problem with the national currency?
In August 2019, as compared to July 2019, GEL-denominated loans issued by Georgia-based commercial banks (excluding interbank loans) rose by 323 million GEL, whilst foreign currency denominated loans rose by 13 million GEL.
According to the National Bank of Georgia (NBG), volume of nonbank deposits in the banking sector made up 25 340 000 000 GEL as of September 1, 2019, up 344 900 000 GEL (+1.38%)
In August 2019 net profits of commercial banks made up 110.106 million GEL, up 27.434 million GEL month on month and up 61.178 million GEL year on year (+125%).