Daily News June 2, 2016	Days:  31 01 02 03 06

economics

BUDGET OFFICE: HIGHEST RATE OF NOMINAL GDP AVERAGE GROWTH IS OBSERVED IN GURIA AND TBILISI

Budget Office of the Parliament reported that Guria and Tbilisi fixed highest rates of nominal GDP average growth in 2011-2014 (11.7% and 10.8%, respectively). While the lowest rates were observed for Samtskhe-Javakheti and Imereti, Racha-Lechkhumi and Kvemo Svaneti (6.8% and 5%, respectively).




BUDGET OFFICE: CASH INCOME AND TRANSFERS EXCEED 70% IN AVERAGE MONTHLY INCOME OF HOUSEHOLDS IN REGIONS FOR 2011-2014

Budget Office of the Parliament reported that cash income and transfers is key component (more than 70%) of average household monthly income in regions for 2011-2014.

At that, the Office pointed that in most part of regions (i.e. except Tbilisi, Ajara and Kvemo Kartli), biggest share in this kind of income is derived from pensions, scholarships, allowances and gifted money.




BUDGET OFFICE: MOST OF REGIONS SHOWED ACCELERATION OF ELECTRICITY CONSUMPTION IN 2014

Budget Office of the Parliament reported that rate of electricity consumption growth increased for most of regions in 2014.

For 2012-2014, the highest rates are observed for Shida Kartli and Mtskheta-Mtianeti (14.2%) and Samegrelo and Zemo Svaneti (12.5%), the Office said.




NBG: FLOATING-RATE LOANS ACCOUNTED FOR 19% OF TOTAL CREDIT PORTFOLIO BY THE END OF 2015

National Bank of Georgia (NBG) reported that loans with floating rate of interest accounted by the end of 2015 for 19% of total credit portfolio. Banks have started active issuance of the mentioned credits in 2013.




NBG: IN 2015, VOLUME OF LIQUID ASSETS WAS CHARACTERIZED BY HIGH LEVEL AND SLIGHT FLUCTUATIONS

National Bank of Georgia (NBG) declared that volume of liquid assets was characterized in 2015 by high level and slight fluctuations.

Liquid assets account for 23% of total assets’ volume and are sufficient for coverage of 41% of total non-banking deposits, annual report of NBG said.




NBG: BANKS’ AVERAGE ROA AND ROE HAVE CHANGED INSIGNIFICANTLY IN 2015

National Bank of Georgia (NBG) reported that banks’ average return on assets (ROA) and average return on equity (ROE) made up in 2015 respective 2.3% and 15.4%. These showings do not considerably differ from ones of 2014, NBG noted.

business

“LIBERTY BANK” FIXED PROFIT OF 4.34M LARI IN Q1

Liberty Bank reported net profit of 4.34 million lari for the 1^st quarter. If compared with the same period of 2015, the volume has dropped by 47.8%.




“PROCREDIT BANK” FIXED PROFIT OF 5.09M LARI IN Q1

ProCredit Bank reported profit of 5.09 million lari for the 1^st quarter. If compared with the same period of 2015, the volume has decreased by 6.5%.




“HALYK BANK GEORGIA” REPORTED PROFIT OF 816,670 LARI IN Q1

Halyk Bank Georgia reported net profit of 816,670 lari for the 1^st quarter. If compared with the same period of last year, the volume has decreased by 5.9%.




“SILK ROAD BANK” REPORTED LOSS FOR Q1

Silk Road Bank reported loss of 694,760 lari for the 1^st quarter. In the same period of 2015, the bank had profit of 2.46 million lari.




RENEWED EMERGENCY CENTER OPENED IN “TBILISI CENTRAL CLINIC” THROUGH FUNDING OF “SAKARTVELOS BANKI”

Sakartvelos Banki (Bank of Georgia) declared that new, “having ultramodern equipment” emergency center was opened in Tbilisi Central Hospital through the bank’s funding. Volume of funding is not specified.




ECONOMY MINISTRY: HOTEL COMPLEX TO BE ARRANGED IN BAZALETI

Ministry of Economy and Sustainable Development reported that non-agricultural land plot of 1,249 square m with buildings, located in Bazaleti village (Dusheti municipality of Mtskheta-Mtianeti region), are handed over to LLC Best Group for 113,000 lari.

National Agency of State Property sold the property to the company with condition to arrange modern hotel complex there.