The Fitch rating for the Georgian bank sector is “Stable”. This signifies considerable reserves of commercial banks will compensate the quality of assets affected by the GEL depreciation. The 36% devaluation was the main challenge in 2015. The bank sector has showed steadiness amid the GEL depreciation, GDP growth slowdown and a demand contraction in exports markets. The Georgian bank sector has maintained positive indicators.
Ramaz Kukuladze director general of Bank Republic reviews the year of 2015 and evaluates Georgia’s banking sector during this year.
“Despite many problems, our bank continues growing. We have increased the market ratio. The volume of bad loans has considerably decreased thanks to appropriate management of risks,” he said.
It should be noted the growth is recorded in both directions, corporate and retail segments.
“The year of 205 was very important in terms of inauguration of new projects. We have introduced more flexible services, including digital signature. This is a new stage of civilization in out world,” Ramaz Kukuldze added.
It is important in terms of social responsibility too, because our clients will care for environment jointly with Bank Republic. Introduction of technological innovations is our priority in 2016.
The year of 2015 was complicated, but the bank maintained a high level of profitability thanks to valuable management of sales and risks.