Banking

Total Assets of Commercial Banks Rose by 1.3 billion GEL in July

Total assets of Georgia-based commercial banks in July rose by 1.3 billion GEL, as compared to June, and the figure amounted to 44.3 billion GEL as of August 1, 2019.

Seventeen Microfinance Organizations Suspended Operation Year on Year

One more microfinance organization has been abolished, under the decree that the National Bank’s vice president passed on August 12.

TBC has Updated its Macroeconomic Forecasts

In July IMF released updated World Economic Outlook, revising down global growth projections. It mostly reflected worsened outlook for the emerging countries including China, Latin America, Russia and South Africa.

TBC Bank Group PLC Announces Board Changes

TBC Bank Group PLAC introduced the "Mirror Boards" governance structure

Nicholas Dominic Haag Appointed as Senior Independent Director of the TBC PLC Board

TBC Bank Group PLC announces that existing Independent Non-executive Director, Nicholas Dominic Haag, has been appointed as Senior Independent Director of the TBC PLC Board.

How to Get a Cashback at Food Outlets Via Space?

The first fully-fledged digital bank Space in Georgia has just completed its one year anniversary.

Global Finance Nominated Koba Gvenetadze Among The Best Central Bankers

World's leading financial editorial, Global Finance named Koba Gvenetadze among Best Central Bankers of 2019.

Bank of Georgia in GEL 100m Loan Deal for Small Firms

Bank of Georgia Group said its JSC Bank of Georgia unit andInternational Finance Corp (IFC) had signed a GEL 100m (£28m) loan agreement to support micro, small and medium sized enterprises with local currency.

Declining GEL Interest Rates may Reverse

After excessive GEL depreciation and the pressure on prices, the NBG turned more hawkish increasing the likelihood of rate hikes (see note on inflation and exchange rate).