IN Q1, MORTGAGE LOANS IN GEORGIA INCREASED BY 4.3% Q-O-Q AND BY 20.3% Y-O-Y

National Bank of Georgia reported that mortgage loans, issued by the country’s commercial banks, totaled as of March 31 to 26.2 billion lari. The volume has increased by 4.3% quarter-on-quarter and by 20.3% year-on-year. More...

IN Q1, CONSUMER LOANS IN GEORGIA INCREASED BY 2.6% Q-O-Q AND BY 13.8% Y-O-Y

National Bank of Georgia reported that consumer loans, issued by the country’s commercial banks, totaled as of March 31 to 4.86 billion lari. The volume has increased by 2.6% quarter-on-quarter and by 13.8% year-on-year. More...

EBRD TO INVEST $50M IN “GREEN” BONDS OF “GEORGIAN RAILWAY”

EBRD declared about intention to invest $50 million in “green” bonds, issued by Georgian Railway.

The matter concerns emission of 7-year bonds totaling to $500 million, which was placed on London Stock Exchange. More...

IN Q1, PROFIT OF GEORGIAN INSURANCE COMPANIES REDUCED BY 18.7% Y-O-Y

Georgian State Service for Insurance Supervision reported that 18 companies, operating on the local market, finished the 1^st quarter with total profit of 13.5 million lari. If compared with the same period of 2020, the volume has reduced by 18.7%. More...

IN Q1, 5 COMPANIES ACCOUNTED FOR 68.6% OF TOTAL INSURANCE PREMIUM

Georgian State Service for Insurance Supervision reported that in total premium, attracted by Georgian insurance companies in the 1^st quarter (233.2 million lari), 5 companies accounted for 68.6%, or 160 million lari.

The first position is occupied by GPIH with a share of 22%. More...

IN 2020, NUMBER OF MOBILE INTERNET USERS INCREASED BY 2.2%

Georgian National Communication Commission reported that number of Georgian mobile networks’ subscribers, who use internet services, totaled by the end of 2020 to 3.3 million. If compared with 2019, the number has increased by 2.2%. More...

KYRGYZ “AIR MANAS” TO START OPERATION ON GEORGIAN MARKET

Georgian Ministry of Economy and Sustainable Development reported that Kyrgyz low-coster Air Manas will carry out charter flights to Georgia. The airline got corresponding permit on June 17. More...

Bankebi da Finansebi: “NBG VICE-PRESIDENT: WHEN ECONOMY OPENED, POSITIVE EXPECTATIONS AROSE AND THIS CAUSED SHARP STRENGTHENING OF LARI”

Papuna Lezhava, vice-president of National Bank of Georgia (NBG), indicated that “from the second half of 2020, when along with beginning of the pandemic, expectations of economic actors changed to the negative, this caused sharp depreciation of the exchange rate”.

“While in the last month, when the economy opened, positive expectations arose, and this caused sharp strengthening of lari”, Lezhava pointed and stated: “This year is expected to be better than last one”. More...

Tabula: “USAID ALLOCATES $67M TO GEORGIA AS GRANT”

Grant agreement, signed between the US and Georgia, envisages allocation of a grant of $67 million to Georgia, Tabula reports. The article notes that volume of the grant can grow up to $330.5 million. More...

Forbes Georgia: ““GEORGIAN RAILWAY” PLACED EUROBONDS OF $500M AT 4%”

Georgian Railway placed 7-year Eurobonds totaling to $500 million at 4%, the magazine reports, referring to the London Stock Exchange.

The emission aims refinancing of 10-year Eurobonds, placed in 2012 at 7.5%. More...

Forbes Georgia: “INCOME OF LEASING COMPANIES IN GEORGIA”

Today, leaders on the Georgian market are leasing companies established by leading local commercial banks – TBC Leasing (TBC Bank) and Georgian Leasing Company (Sakartvelos Banki (Bank of Georgia)), the magazine points.

The article indicates that according to these companies’ financial reports, the pandemic has had a negative impact on their earnings. More...

MICROFINANCE SECTOR IN GEORGIA (2017-2020)

- In 2017-2019, new regulations on microfinance institutions (MFIs) entered into force, which significantly altered the landscape of the industry.

- Between Q1 2017 and Q4 2020, the number of MFIs and employees in the sector fell, with the former dropping to 40 and the latter to 4,145 by Q4 2020 (52% and 16% decrease, respectively). More...