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Banking

French-Chinese Deal in Georgian Bank Sector: Basisbank and Bank Republic to Merge

Chinese Hualing Group will unite Bank Republic belonging to French Societe Generale and Basisbank. A completely new commercial bank might be established, where French party will hold only 8% stake.

Hualing Group, Societe Generale and EBRD have concluded an agreement on the controlling stake of Societe Generale in Bank Republic within the last week.

Hualing Group wants …

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Banking

Hualing Group: What Georgian Banking Sector Should Expect

Hualing Group initiated a policy of active strategy of re registering Bank Republic. The bunch who had no experience in the banking business before Basisbank acquisition next year has entered the Georgian bank sector.

Since Chinese investors have got bold measures in the Georgian business sector, that they need an ad bank for …

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Banking

National Bank Releases Special Statement on Deal between TBC Bank and Bank Republic

The National Bank of Georgia (NBG) has released an exceptional statement for the new deal between TBC Bank and Bank Republic. The statement reads:

\”Regarding info on today\’s deals staying with you sector, the nation\’s Bank of Georgia (NBG) declares that negotiations amongst the parties are confidential additionally, the NBG is not really authorized to divulge …

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Banking

Butskhrikidze: Like a big Loan company is Critical in the Small Country

Envisaging current conditions at the market, TBC regards extend as the essential step to the development.

\”For Georgia, which inhabitants are fewer than 4 million, it\’s crucial to become big loan provider and possess large scales to become more potent and still provide your buyers new technology and much better conditions. What i\’m saying …

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Banking

Rating of economic Banks regarding Crediting Industry Sector

The ratio of industry sector crediting altogether loan portfolio has expanded by 11.7% year on year.

In January-June 2016 precisely this component inside portfolio of legal entities constructed 23.9% (22.3% in January-June 2015).

Total portfolio makes up about 1.823 billion GEL (1.628 billion GEL in H1/15; +12% year on year).

Bank of Georgia receives major revenues from loans …

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Banking

Societe Generale Offered Position for Georgian Banker Ramaz Kukuladze

Ramaz Kukuladze, general director of \”Bank Republic\” remains while in the French group. The top part Manager took offer from Societe Generale, it\’s unprecedented case inside the reputation the banking group, that is certainly represented in 5 continents.

The banker manages \”Bank Republic\” from 2011 and also the strategic objective of the financial institution to turn …

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Banking

Deposits Yield Drops to Historical Bottom

Deposits yield has dropped to historical minimum. The eye rate has zeroed on currency demand deposit.

Liberty Bank provides highest yield on GEL- and USD-denominated deposits with 1-year maturity period.

 
 
GEL
USD-EUR

1
Liberty Bank
10,5%
4%1,5%

2
Bank Republic
9,5%
3,5%1%

3
Bank of Georgia
8,0%
3,5%2%

4
TBC Bank
8,0%
3,5%2%

5
ProCredit Bank
7,0%
3,5%2%

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Banking

Deposits Placed in the Banking Sector are Reduced by 235 Mln

The amount of deposits weakens towards banking sector.

As of September 1, the deposit volume totals to 14, 6 billion GEL (-1,6% m-o-m) in the cost demand deposit decline.?Term deposits are grown by 5.Two million GEL, demand deposits are reduced by 240 million GEL.?As outlined by NBG, larization ratio within the portfolio is 31.15%. …

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Banking

Hualing Group Goes into Preliminary Agreement to accumulate Majority Stake of Bank Republic

The Chinese Xinjiang Hualing Industry and Trade (Group) Co., Ltd. (Hualing Group) signed a?preliminary agreement using the Societe Generale Group plus the European Bank for Reconstruction?and Development (EBRD), for the buying of Societe Generale‘s majority stake in Bank?Republic, its Georgian subsidiary.

Hualing Group, a considerable private conglomerate headquartered in Xinjiang Uygur Autonomous Region, China?plus the largest …