Two companies, registered in Georgia, are owners of Standard Bank shares - LLC Standard Capital Georgia (75% of shares) and LLC Financial Investment Managing Company (25%), Standard Bank informs. The bank mentions that Standard Capital Georgia ensures access on Georgian market for foreign companies, while Financial Investment Managing Company carries out market research, provides information service, etc.
Up to December 2006, the bank shares were equally distributed among 4 companies, registered abroad: Discovery Investment Hold, Lucent Investment Inc., Webster Group and Westfore Panel.
Just to remind, Standard Bank represents assignee of Agrobusinessbank, founded in December 1999 with support of European Commission and focused on the agriculture sector. In March 2005, group of investor, headed by Salford (one of the investors of which is Badri Patarkatsishvili), acquired Agrobusinessbank. Agrobusinessbank was named as Standard Bank in June 2005. As Standard Bank notes, "Salford-Georgia does not own bank shares for now".
Share capital of Standard Bank has increased in January-June by 12% up to 15.64 million GEL, exceeding by 41.3% the same figures of 2006. The bank has emitted 12.6 million common stocks.
Net profit of the bank has reached 1.9 million GEL in the first half of 2007, exceeding 2 times figures of the beginning of the year and 3 times - same showing of 2006. According to the net profit, the bank ranks the 9th in Georgian banking sector.
From the beginning of the year total assets of the bank have increased by 49.2% up to 148.5 million GEL (exceeding 2.4 times same showings of 2006), total liabilities - by 55.2% up to 132.9 million GEL (exceeding 2.6 times same showings of 2006). In terms of the mentioned figures, the bank ranks the 8th.
Standard Bank plans to launch 5 new branches by the end of the year - one in Poti and the rest in Tbilisi. This year the bank has already opened 9 new branches, among them two in Batumi and others in Tbilisi. Standard Bank holds 20 branches in total, out of which 12 are in Tbilisi, while the rest - in Batumi, Kutaisi, Telavi, Marneuli, Dedoplistskaro, Senaki and Tsnori.
