Tag Archives: banking

The volume of lending by commercial banks (including loans to non-residents) in January 2019 decreased by 170.2 million GEL or by 0.6 percent compared to the previous month (exchange rate effect excluded volume of lending decreased by 0.2 percent) and constituted 26.4 billion GEL by February 1, 2019. The volume …

Georgian commercial banks have published 2018 financial reports. The leader of banking sector is TBC bank which had accumulated a net profit of 361 million GEL in 2018. Bank of Georgia in on the second place, with a profit of 342 million GEL. Liberty Bank took the third place with a net profit …

Tbilisi Mayor Kakha Kaladze met with the heads of commercial banks and within the frames of green policy of Tbilisi City Hall offered cooperation in implementation of planned projects. Kakha Kaladze talked about the events planned by the initiative of the City Hall, which aims to improve the ecological situation …

On November 1, 2018 the decree passed by the president of the National Bank of Georgia (NBG) on introduction of new banking regulations will take effect. Namely, a set of crediting restrictions will be imposed on commercial banks and microfinance organizations – they will have to stricter assess the solvency …

According to National Bank of Georgia (NBG), net profits of commercial banks made up 47 993 000 GEL in June 2018. According to NBG indicators, the banking sector’s net profits halved year on year. According to the 2017 June indicators, the banking sector’s profits made up 95 882 000 GEL. …

The banking and finance sectors started establishing fair rules of the game, Finance Minister Mamuka Bakhtadze said after today’s government meeting. At the special briefing Mamuka Bakhtadze discussed a new bill submitted to the Government meeting. The legislative initiative promulgates several important principles, he said. “First, no lender will be …

The banking sector’s revenues have increased by 113 million GEL year on year (+20% year on year). In the first quarter of 2018 the sector’s revenues amounted to 941.5 million GEL. In the same period of 2017, commercial banks received 828 million GEL revenues. According to National Bank of Georgia …

Minister of Finance against Commercial Banks Georgian banking system frustrates economic development, Georgian Finance Minister Mamuka Bakhtadze said at TechnoPark, where a memorandum on implementation of digital Silkroad project was signed. «Bank loans with high interest rates frustrate development of entrepreneurship and business. The Georgian banking system is to drive …

Consumer rights protection activists suggest bank clients to request a reference from a commercial bank on annulling the loan account after the loan agreement expiration. Otherwise, there are risks that personal information of bank clients may be used on legal grounds. Commercial banks are banned to have access to client’s …

GEL emerged as one of the most volatile currencies in the region in 2017. Last year the national currency depreciated and appreciated several times. Naturally, this volatility made negative affect on business, raised public discontent and citizens urged the National Bank to take radical measures. Experts asserted that the national …

The Commersant continues publishing reports of financial institutions. According to the fourth quarter indicators, VTB Bank’s profits grew by 14% to 20 million GEL. In 2016 the bank’s profits constituted 18 million GEL. In 2017 VTB Bank reserved 10 million GEL. Throughout the year the Bank’s assets rose to 1.56 …

The governor of the National Bank of Georgia, Koba Gvenetadze has announced 2018 to be “a year of financial education” and discussed plans that will be implemented together with financially literate society, who will no longer be afraid of exchange rate volatility. The governor also reviewed the major challenges of …