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Monthly Archives: October 2017

ProCredit Bank’s Assets Shrink

Assets of ProCredit Bank have shrunk by 1.3% month on month. The bank rank 5th with a 3.9% ratio as of October 1 (Q3.2017). Deposits portfolio of ProCredit Bank has also decreased by 1.6% month on month. The bank’s crediting volume has risen by 2.8% month on month. Assets 1 …

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Georgian Apple Crisps to Enter Market Next Month

Agrarian University students begin to produce Georgian apple crisps, which will appear on the Georgian market in a month. Shalva Mdzinarashvili,Co-founder of the company notes at Commersant, that price politics be calculated on the segment with medium and high-income people. The team won 5 000 GEL in a competition with …

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Solar Powered Hotel to be Built in Akhasheni

”Kakhetian Traditional Winery” will build energy efficient hotel in Akhasheni. Head of the company, Zurab Chkhaidze explains that they will receive electricity from solar energy. 41-room hotel will be adapted for people with disabilities, rooms, as well as surroundings of the hotel area. The construction is almost complete and will …

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World Bank Ups Georgia’s Economic growth Forecast

World Bank Ups Georgia’s Economic growth Forecast

The World Bank (WB) forecasts Georgia’s economic growth pace to reach 4% in 2017, up from the previous forecast of 3.5%. WB forecasts 4% upturn in 2018 too, while the 2019 outlook was determined by 4.5%. The WB report reads that Georgia has recorded a strong growth in 2017. The …

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NBG to Determine New Rate of Monetary Policy

NBG to Determine New Rate of Monetary Policy

The next meeting of the Monetary Policy Committee of the National Bank of Georgia will be held on October 26 in Tbilisi. According to the NBG, Koba Gvenetadze, President of National Bank of Georgia will hold a press conference after the finish of Monetary Policy Committee. He will inform the …

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Georgia Grows into Regional Tourism Center

Summer tourism season has come to a close. Both government and field experts expected the sector to bring considerable revenues and this is not surprising if we analyze the statistics of the past years: the sector keeps growing year to year. To be precise, 5 901 094 visitors arrived in …

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Media Exposure for Bank Cards

Media Exposure for Bank Cards

In the first quarter of 2017 Georgia-based commercial banks issued 9.2mln payment cards, up 11% year on year. Ratio of MasterCard accounts for 43%, VISA – 32%, Vocal – 18%, UP – 6% and Amex – 1%. In January-March 2017 Georgian payment cards recorded 37.7mln transactions worth 4bln GEL in …

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Georgian Wine Presented at Megavino 2017, Brussels

Georgian wine companies participated in international wine exhibition MEGAVINO 2017 for the first time, held in Brussels on October 20-23. Supported by National Wine Agency, following wine companies were presented: Shilda, Mosmieri, Vaziani, Chateau Nekresi, Kimerioni, Kakhetian Wine Cellar, Telavi Wine Cellar, Tbilvino and Koncho and Company. Attendees were able …

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The Rating of Lucrative Banks – BasisBank Shows the Highest Growth

Among the profitable banks, BasisBank showed the highest growth in September, + 15.1% m.m. 13.4% were “Bank of Georgia” and 12.6% was “TBC Bank” profit growth indicator. As of October 1, there is a profit of 15 out of 16 banks. Q3/2017 ●01.09.2017 Lucrative million million Bank of Georgia 286.710 252 …

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