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Tag Archives: Silk Road Bank

Silk Road Bank Appoints New CEO

Silk Road Bank appointed Eli Enoch, as a new CEO. Enoch has worked on the position of the head of Strategic Planning Service in Silknet. Enoch replaced Alexander Dzneladze, former CEO of the bank who is currently the President of the Banking Association of Georgia. The Association members were elected …

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Rating of Commercial Banks in December

Rating of Commercial Banks in December

Consolidated profits of the bank sector exceeded 152.5 million GEL in December 2017. All commercial banks finished the month of December in profits, including Silk Road Bank. However, the latter bank’s annual losses constituted 495 555 GEL. The Georgian banking sector consists of 16 commercial banks, including 15 ones with …

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Silk Road Group to Build Silk Tower in Batumi jointly with GCF

Giorgi Ramishvili

Silk Road Group plans to build Silk Tower in Batumi jointly with Georgian Co-investment Fund (GCF). The company and the Fund have already signed a memorandum. The Silk Road Group director told CNBC that Batumi Silk Tower will be built according to the architectural concept agreed with Donald Trump and …

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With Donald Trump’s Election, Georgia Dusts Off Plans for a Trump Tower

Trump Tower Batumi

A real-estate development company in the South Caucasus state of Georgia, a close US ally, has announced plans to proceed with a long-stalled Trump-Tower project; a claim that, if realized, could raise further sticky questions about the dividing line between business and government under a Trump administration. Plans for a …

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Silk Road Bank Turns Profitbale in July

Silk Road Bank Turns Profitbale in July

Silk Road Bank has turned profitable in the month of July and reduced losses to 0.5 million GEL. Assets and deposits have increased ( +18% m.m; +50% m.m ).   07.08.16 H1/16   GEL GEL Profits (Losses) 477 118 (1 532 375) Assets 61 780 899 52 168 569 Deposits …

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Silk Road Bank Closes Several Branches

Silk Road Bank has announced an optimization of expenditures and has closed several branches, including in Tbilisi (Tsereteli Avenue), Batumi (Radisson hotel) and Poti (Aghmashenebli Street). The bank stakeholders will mull over new priorities at the March 4 general meeting. The agenda also includes a determination of salaries of the …

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Silk Road Bank fixed 2.4mln GEL profit in 7 Months

By August 1, Clients’ deposits (without banks’ deposits) amounted to 24, 1 million lari, credit portfolio was defined by 19, 3 million lari, of it 88% – 16, 9 million lari accounts for foreign currency. Reserves are defined by 2, 4 million lari and 12% of portfolio. Assets of the bank …

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“Silk Road Bank” being Sold

“Silk Road Bank" being Sold

After “Progress Bank”, “Silk Road Bank” may be sold. “Commersant” reports that the bank is looking for an investor. In addition, its purchase by any Georgian bank will not be considered and the owners hope for the interest from one of the foreign financial groups. The bank avoids commenting on …

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