First Microbank Expected to Launch in Georgia's Financial Sector by Year's End

In a promising development for the Georgian financial landscape, the Chairman of the Microfinance Association has announced that the country's first microbank is expected to emerge by the end of the year.

Silk Bank Reports Robust Financial Performance for August 2023

In August 2023, Silk Bank experienced significant growth, expanding its credit portfolio by 27% month-over-month to reach 22.2 million GEL.

TBC Secures $70 Million in Trade Financing from Citibank, Bolstering its Market Position

TBC Bank has successfully garnered $70 million in trade financing from Citibank, marking the second such agreement between the two financial giants in this sector.

National Bank of Georgia Joins Forces with Basel Innovation Hub to Advance Digital Currency Initiatives

The National Bank of Georgia is embarking on a strategic collaboration with the Basel Innovation Hub (BISIH) to delve into the nascent realm of digital GEL, Georgia's official currency.

Bank of Georgia Secures $50 Million Trade Finance Deal with Citi

The Bank of Georgia has successfully secured a $50 million financial package from Citi to bolster its trade financing capabilities.

Rising Georgian Company Stocks Make Waves on the London Stock Exchange

Three Georgian companies—Bank of Georgia, TBS Bank, and Georgian Capital—are making their presence felt on the London Stock Exchange with significant gains in share prices over the past week.

NBG Forecasts a Drop in Refinancing Rate to 9.5% Amidst Inflationary Risks and Geopolitical Challenges

Despite the potential threats of external factors, the financial stability of the nation does not seem compromised by any internal elements, according to the acting president of National Bank of Georgia, Natia Turnava.

S&P Global Ratings Confirms Georgia's Banking Sector's Sustainable Growth

Natia Turnava, Acting President of the National Bank, expressed her satisfaction with the recent report from S&P Global Ratings, which affirms the robust and sustainable development of the Georgian banking system.

New Mandate for Banks Could Impact Deposit Portfolio Pricing

Banks are now required to accumulate financial resources in a resolution fund to mitigate potential financial crises, according to Aleksandre Dzneladze, Chairman of the Banking Association. This announcement was made on the "Business Partner" program.