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Tag Archives: National Bank

National Bank: New Regulations will not Take Effect on November 1

New regulations proposed by the National Bank of Georgia (NBG) will not take effect on November 1, the NBG officials told BM.GE. At this stage, the central bank is discussing technical details to determine the new date for enforcing the new instructions on retail crediting. At the same time, the …

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National Bank Simplifies Crediting Procedures for Physical Bodies

National Bank: Impact of External Shocks Decline

Clients to Get Services of Revenue Service and Public Registry under Single-window Principle at Commercial Banks. A joint project by National Bank of Georgia (NBG), Government and Revenue Service ensures an exchange of information on borrowers. The document  will come into force in October 2018. According to the NBG, for …

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National Bank to Enforce New Loan Regulations Ahead of Schedule

Revised loan coefficients will be specified at the next meeting of National Bank of Georgia on November 21. Under new regulations, borrowers are to have higher salaries for taking loans. Monthly Net Incomes in GEL Loan Service Coefficient – Maximum Indicator for Nonhedged Borrowers Lona Service Coefficient – Maximum indicator …

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Consumer Loans Rise in Value

Lari loans

Interest rates on GEL-denominated consumer loans have increased, while on USD-denominated consumer loans have decreased. According to the National Bank’s statistics, averaged interest rate on GEL-denominated short-term bank credits is 19.9%  (Q1.2017 – 19.4%),  and foreign currency denominated loans – 6.0% (Q1.2017 – 8.1%). Annual interest rate on GEL-denominated  long-term …

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Former National Bank Building Sells Out At Auction

Ministry of Finance and Economy of Ajara announces an auction on the former building of the National Bank of Batumi and its surrounding inventory once again. In total 2623,4 sq.m of non-residential space owned by the Autonomous Republic of Adjara, In Batumi. The electronic auction will be announced on 40% …

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Tourists’ Bank Transactions Grow

According to National Bank’s annual report (2016), ATM and POS terminal transactions by foreign visitors have increased by 20% year on year. Card transactions support infrastructure has been also expanded: POS Terminals (+29% year on year ) and ATMs (+5% year on year). At the end of the reporting year, …

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National Bank Bought 19.75 Million USD in April

National Bank Bought 19.75 Million USD in April

Net currency sales of National Bank of Georgia (NBG) made up 30.5 million USD. As a result, foreign assets have declined by 10.75 million USD. NBG has purchased 19.75 million USD through currency auctions. Government deposits shrank by 132.5 million GEL to 1.178 million GEL. In the reporting period placement …

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Online Loan Companies to Turn into Micro Finance Organizations

Online loans companies-ccloan.ge; minicredit.ge; masexsxe.ge; mozo.ge; cash24.ge; monline.ge; espresso.ge- were altered to Micro Finance organizations. According to official list of National Bank, companies made a decision after the government made announcement about new regulations of online loans.  From 9th of December till 28th of December, 8 companies made a decision …

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National Bank to Locate Four Official Exchange Rates

National Bank will locate four official exchange rates. On the main page, Turkish Lira and British Pounds will be added to the exchange rates of USD and Euro. At the same time, considering growth of micro finance organizations activities in Bloomberg trade system, Georgian National Bank will consider the commercial …

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