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Banking Circles discuss development prospects


Caucasus 2nd international conference on banks and finances has been opened today. The conference is organized by British ITE Group Plc and its exclusive partner in Georgia Iteca Kavkasia Ltd. 200 delegats from 15 countries, including Georgian banking and insurance representatives, take part in this 2-day event.

Addressing the conference, Roman Gotsiridze, president of National Bank of Georgia (NBG), said that conference, wich is held in Georgia for the first time, aims to introduce potential partners, to attract investments and to adopt new technologies.

Investment and credit line volume will exceed $700 million in the current year, Gotsiridze says. Besides French (Societe General, holder of Georgian Bank Republic control pack since the end of 2006) and Ukrainian (PrivatBank, owner of Georgian Tao Bank control pack from the current month) banks, a numebr of other large financial institutional are expected to enter Georgian market, NBG president mentioned.

At present 18 banks are operating in Georgia. Their total assets made up 4.7 billion lari, liabilities – 3.7 billion lari (state of April 1, growth from the beginning of the year – 11% and 12% correspodingly).

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