NBG’S FORECAST FOR NATIONAL ECONOMIC GROWTH REMAINS 4%
National Bank of Georgia (NBG) did not alter forecast for economic growth in 2017, which remains as 4%. “However, the forecast-related uncertainty has decreased”, NBG declared.
NBG: IN THE CURRENT YEAR, INFLATION WILL REMAIN ABOVE THE TARGET
National Bank of Georgia (NBG) forecasts that annual inflation will continue moderate growth and will remain above the target indicator of 4% in 2017. NBG expects that inflation will start decreasing from end of the year.
NBG: INVESTORS’ INTEREST TO LOCAL DEBT SECURITIES IN 2016 CONTINUED TO GROW
National Bank of Georgia (NBG) declared that “activity of the debt securities market and growth of investors’ interest to it, which started in 2014-2015, had continued in 2016 too”.
As NBG’s annual report indicates, 3 companies had issued bonds in 2016, which were placed through public offering.
NBG: PORTFOLIO OF BROKERAGE COMPANIES’ CLIENTS DOUBLED IN 2016
National Bank of Georgia (NBG) reported that portfolio of brokerage companies’ clients (cash and securities) amounted in 2016 to 17.4 million lari, making up 37.8% of their total assets.
In the reporting year, brokerage companies’ client portfolio has doubled in comparison with 2015, NBG pointed, noting that similar growth was observed in 2015 also.
NBG: IN 2017, LEVERAGE RATIO WILL BE INTRODUCED
National Bank of Georgia (NBG) is going to introduce leverage ratio in 2017. As NBG’s report for 2016 points, this is implementation of requirements of Basel committee for banking supervision (Pilar I of Basel III).
NBG: WORKS ARE UNDERWAY ON INTRODUCTION OF SYSTEM OF PREVENTION OF DATA LEAKAGE
National Bank of Georgia (NBG) reported that in line with demands of the guide to policy of information security management system (ISMS), works on introduction of system of prevention of data leakage were started in the end of 2016.
In particular, server and network infrastructure of NBG was reshaped and was launched in test mode already, says NBG’s report for 2016.
NBG: MONETARY SHOWING OF PAYMENT SERVICE PROVIDERS INCREASED IN 2016 BY 35%
National Bank of Georgia (NBG) reported that monetary expression of providers’ payment service volume amounted in 2016 to 5.8 billion lari. If compared with 2015, the volume has increased by 35%.
NBG: IN NON-CASH PAYMENTS, PAYMENT CARDS ACCOUNTED FOR 67.2% IN TERMS OF OPERATIONS’ NUMBER, WHILE INTERNET BANKING – FOR 69.3% IN TERMS OF MONEY VOLUME
National Bank of Georgia (NBG) reported that in total non-cash payments’ number, share of operations made by payment cards has reached 67.2% in 2016. NBG noted that this indicator, which made up 41% in 2012, grows annually.
ENVIRONMENT PROTECTION MINISTRY: CONSTRUCTION OF VISITORS CENTER STARTED IN KAZBEGI NATIONAL PARK
Ministry of Environment and Natural Resources Protection reported about launch of construction of administration office and visitors center in Kazbegi national park (Mtskheta-Mtianeti region).
The project, being supported by the government of Germany and German bank for reconstruction and development (KfW), is implemented by Agency of Protected Areas.
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