Tag Archives: NBG

According to the statistics of the National Bank of Georgia (NBG), the Georgian bank sector ended the January to April period in 180.46 million GEL net profits. At the end of April, 2015 the sector’s net profits made up 114.8 million GEL and consequently, the profits have increased by 57.2% …

The Vice Premier declares, that decision on remaining of Financial Supervisory in NBG is adopted. Dimitri Kumsishvili, minister of Economy has declared about it with TV-company “Maestro”. “I regard, that the issue is decided and now, we all are agreed that that Financial Supervisory should remain in NBG”, – the …

The financial monitoring service of the National Bank of Georgia have inspected microfinance organizations and fined several of them. The Commersant has obtained this exclusive information from a reliable source saying that several microfinance organizations will have to pay 100 000 GEL fines after the inspection. According to the source, …

On May 17, the National Bank of Georgia (NBG) bought 20 million USD. The averaged weighed exchange rate made up $1/2.1872. The Georgian national currency has strengthened by 5.8% after the NBG, following a long break, started replenishing the foreign currency reserves. As part of the first intervention (17.03.16) the …

The national bank of Georgia (NBG) expects the inflation rate to be under the 5% target indicator. The May report on monetary policy reads that the inflation in midterm period has reached to the target indicator. In 2017 the target rate will be 4% and in 2018 – 3%. The …

The National Bank of Georgia (NBG), as a member of Basel Consultative Group (BCG), continues working within the Basel Core Committee’s Supervision and Implementation Group. This group works on implementing advanced approaches in international supervisory policy, and the principles that it develops constitute international standards. The National Bank of Georgia, …

On May 10, 2016, the National Bank of Georgia purchased 20 000 000 USD on its Foreign Exchange Auction. The weighted average exchange rate was 2.2132. It should be noted that National Bank of Georgia had purchased such big amount of foreign currency (USD) 2 times in last week. Totally the amount made up …

According to Galt&Taggart Georgian economy will grow more than 4% in this year. Archil Gachechiladze stated in  his speech to business contact that tourism will have a positive impact on economy growth in Georgia. “Economic growth will exceed 4% and it might reach even 5%. Stabilization has occurred in the region, in addition oil …

In March the official international reserves of the national bank of Georgia (NBG) increased by 29.4 million USD as compared to February 2016. In the reporting period, the NBG increased reserves by 15 million USD at currency auctions. Transactions carried out at the treasury have also replenished the reserves. In …

The deposits insurance system must be subjected to the strictly regulated standards to increase deposits placement volumes at commercial banks, the National Bank President Koba Gvenetadze pointed out. “The deposits insurance system is practiced in many countries as an additional inspiration for placing deposits at commercial banks. This is a …

At this stage, there is no necessity of stripping the central bank of financial supervision functions. “This issue was relevant rather in 2015, maybe, when the country was facing serious shocks after the GEL rate depreciation that could badly affect the bank portfolio quality”,   Koba Gvenetadze, the national bank president, …

The country should pay more attention to online loans system, the national bank’s president Koba Gvenetadze noted. The Baltic Countries have developed a good experience in terms of online loan regulations and currently, we are studying this experience. It is upon the Authorities to determine which instance will regulate the …