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Ceasar Chocheli, founder of Georgian company

Georgian Businessmen Are Unhappy with Local Banking Sector

Georgian businessmen are unhappy with the local banking sector and voice a few remarks to Radio Commersant.

Some businessmen demand the local banks to introduce a certain legislative framework restraining the banks information regarding the business activity of their clients.

Georgian Beer Company founder Ceazar Chocheli says that there have been instances in which banks had obtained information regarding their customers’ business projects and later carried out the same type of activity independently.

In turn, the Director General of a large development company Axis says the banks’ separation from non-core assets could be false.

The meat processing company Nikora’s director says that, unlike Western banks, Georgian commercial banks raised interest rates during the currency crisis.

In addition, President of the Israeli- Georgia Chamber of Business discusses the about a problem of obtaining a bank loan in Georgia.