Home / Tag Archives: banking

Tag Archives: banking

Volume of Lending by Commercial Banks Decreased by 170.2 million GEL

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 …

Read More »

Georgian Banks Ranked by 2018 Earnings

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 …

Read More »

Net Profits of Commercial Banks Shrink

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. …

Read More »

Mamuka Bakhtadze: Banking and Finance Sectors Establish New Fair Rules of Game

Mamuka Bakhtadze: The Main Focus Will be less Bureaucracy

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 …

Read More »

Banking Sector’s Revenues Grow

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 …

Read More »

Georgian Banking System Hampers Economic Development

Mamuka Bakhtadze

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 …

Read More »

VTB Bank Profits Grow by 14%

VTB Bank Georgia

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 …

Read More »

Koba Gvenetadze Announces 2018 As A Year Of Financial Education

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 …

Read More »