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Tag Archives: Bank of Georgia

Price of Bank of Georgia Shares Declined by 1.31% at LSE

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Price of Bank of Georgia shares (BGEO LN) at London Stock Exchange (LSE) declined by 1.31% week on week (L/W +4.8%). Session week closed at 30.03 GBP (L/m +2.56% month on month). In the reporting week, deals were made on 240 000 shares (L/w – 270 000). Total capitalization made …

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Bank of Georgia Attracts 50 million USD Financial Resource

Bank Of Georgia

Bank of Georgia has attracted 50 million USD financial resource thanks to efforts of Citi jointly with International Finance Corporation (IFC). The latter participates in financial component and ensures partial guarantee support through its global trade finance program (GTFP). This is the third financial component attracted by efforts of Citi …

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IFM Awards Bank of Georgia for Best Management of Asset and Wealth

Bank of GeoBank of Georgiargia

 The International Finance Magazine (IFM) has granted award to Bank of Georgia for best management of asset and wealth. This award was transmitted to Bank of Georgia for the second time, as the best provider of this service in Georgia. This award recognizes achievements in providing special services to consumers …

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Bank of Georgia Emerges as Market Leader in January-September Period

Bank of Georgia Emerges as Market Leader in January-September Period

Bank of Georgia finished January-September period with 119.281 million GEL net profits  (01.09.16 –119.281 million GEL + 26%). Ratio of Bank of Georgia in profitable banks (14 ones) accounts for 29.8% (01.09.16 – 27,2%). The bank is the market leader in terms of almost all indicators. As of October 1, Bank …

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S&P Stops Conferring Ratings to Bank of Georgia

S&P Stops Conferring Ratings to Bank of Georgia

S&P will not confer ratings to Bank of Georgia any more. The ratings were recalled by will of Bank of Georgia, the influential rating agency reports. Before, it had affirmed its ‘BB-/B’ long- and short-term counterparty credit ratings and its ‘ilA’ Israel national scale rating on the Bank of Georgia (BoG), …

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Deposits Placed in the Banking Sector are Reduced by 235 Mln

Deposits Placed in the Banking Sector are Reduced by 235 Mln

The volume of deposits is diminished to the banking sector. As of September 1, the deposit volume totals to 14, 6 billion GEL (-1,6% m-o-m) at the expense of demand deposit decline. Term deposits are grown by 5.2 million GEL, demand deposits are reduced by 240 million GEL. According to NBG, larization …

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It’s Time To Transform Commercial Banks into Investment Banks in Georgia

“It’s right time to transform commercial banks into investment ones in Georgia,”President’s economic advisor, told the Business Contact. Maia Melikidze has evaluated the acquisition of Bank Republic and stated that market still remains two large players such as TBC and Bank of Georgia. As for her for the better growth of the country, …

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Deposits Yield Drops to Historical Bottom

Deposits Yield Drops to Historical Bottom

Deposits yield has dropped to historical minimum. The interest rate has even zeroed on currency demand deposit. Liberty Bank provides highest yield on GEL- and USD-denominated deposits with 1-year maturity period.     GEL USD-EUR 1 Liberty Bank 10,5% 4%●1,5% 2 Bank Republic 9,5% 3,5%●1% 3 Bank of Georgia 8,0% …

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TOP-3 Commercial Banks in terms of Deposits Placement

TOP-3 Commercial Banks in terms of Deposits Placement

70% of retail and corporate deposits have been placed at three commercial banks and total portfolio exceeds 1 billion USD. A major part of retail and corporate depositors show trust to TBC Bank and Bank of Georgia.     01.09.16 01.08.16 1 Bank of Georgia 4 680 119 4 782 …

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Bank of Georgia Starts Issuing of European Business Loans

Bank of Georgia Starts Issuing of European Business Loans

Bank of Georgia starts issuing of European business loans in order to enable entrepreneurs to export their products at the European market. According to the bank, credit line of 220 million GEL obtained from European Bank for Reconstruction and Development (EBRD) gives opportunity of development and expansion to the business, …

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Fitch Sees Risks of Georgian Banking Market’s Close Down

Fitch Sees Risks of Georgian Banking Market’s Close Down

Fitch focuses attention on dominance of the two large institutions, TBC Bank and Bank of Georgia, after the acquisition of Societe Genreale by TBC Bank at 300 million. In her interview with The FINANCIAL, Olga Ignatieva, Senior Director at Fitch Ratings CIS Ltd notes, that TBC Bank and Bank of Georgia, …

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