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Net Profits of Commercial Banks Totaled 119.1 million GEL in December

Net profits of the Georgian banking sector made up 119.1 million GEL in December 2018, down 22% compared to December 2017. According to the National Bank of Georgia (NBG), the sector’s net profits in December 2017 was 152.56 million GEL. Untaxed profits in December 2018 constituted 136.495 million GEL. A total …

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Commercial Banks Issued 240 million GEL Loans in May

In May 2018 volume of GEL-denominated loans in commercial banks rose by 157 million GEL (without interbank loans), while foreign currency denominated loans increased by 18 million USD. As a result of GEL exchange rate devaluation, the volume of foreign currency denominated loans rose by 92 million in GEL equivalent. …

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Profits of Commercial Banks Decline

The past three months have recorded a decline in profits of commercial banks. In April, net profits constituted 60 million GEL, down 15.5 million GEL compared to March and down 30 million GEL compared to February 2018. In April 2017 net profits of commercial banks made up 37.5 million GEL, …

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Overdue Loans Amounts Grows by 73.3 million GEL

Levan Surguladze Awaits Revision of Depositors’ Money from the National Bank

The amount of overdue loans rose by 73.3 million GEL in December 2017 and totaled 394.5 million GEL. The ratio of overdue loans in the crediting portfolio of commercial banks made up 1.8%. According to the National Bank of Georgia (NBG), 44.4% of overdue loans are denominated in GEL. In …

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New Bill to Smooth Foreign Banks Licensing Procedures

NBG Reduces Its Policy Rate By 25 Basis Points To 6.75%

According to the bill on National Bank of Georgia (NBG), the list of documents to be submitted to NBG for obtaining a banking license is broadened: More detailed information must be submitted about the bank owner; The bank must submit business model and risks management documents approved by a supervisory …

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Assets of Commercial Banks Rose by 20.3%

Banking

Total assets of commercial banks marked 29.8 billion GEL as of April 1, 2017. Year on year growth marked 20.2% (24.727 billion GEL in Q1/2016). According to NBG, bank sector’s own resources account for 4.3 billion GEL, 14.5% in total assets of commercial banks. Georgian bank sector consists of 17 …

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Kakha Okriashvili: Banks to Engage with Secondary Activities

The founder of PSP Group , and parliamentarian, Kakha Okriashvili talks about negative factors for business. According to Okriashvili, inflation of GEL made an influence not only on pharmaceutical business but also other businesses. “Volatility of GEL made a negative influence on the whole business sector, because the feeling of …

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The MP Protects the Banks

The MP Protects the Banks

Georgian Prime Minister George Kvirikashvili protects banks and regards, that unproven claims are announced against banking sector in the resent period. “Georgian banking sector is one of the well-developed in our region. We have very important, developed financial institutes and their engagement in the reform process is essential. Any negative …

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