Bank Republic is one of the oldest Georgian banks, founded in 1991. This is the leading commercial institution, rapidly expanding corporate and retail banking activities and financial services throughout Georgia. More than 1000 persons are employed in the Bank. BR serves the clients through 48 branches and service centers. In 2006 the worldwide fame of Societe Generale, one of the leading banking Groups in euro zone, and the European Bank for Reconstruction and Development, entered as stakeholders after acquiring 60% and 10% of Bank Republic respectively. In 2009, SG increased the shares to 80%.
Societe Generale is one of the largest financial services groups in the euro-zone. The Group employs more than 163,000 people worldwide in three key businesses such as Retail Banking & Financial Services, Global investment management of services and Corporate & Investment Banking.
Bank Republic is ranked among the most reliable and dynamically developing financial institutions that combine a thorough knowledge of the specific characteristics of the Georgian market with the highest Western standards, thus being recognized as the most reliable and dynamically growing structure among the financial structures. Bank Republic rapidly develops the corporate, retail and other financial services and provides the trade financing thanks to the SG network all around the world. Bank offers the wide range of credit and deposit solutions to the customers.BR employs more than 1000 staff members and serves its clients through 49 outlets.
Our values are: professionalism, innovation and team spirit. Bank Republic s business strategy is not focused only on profit gaining policy but it also leads socially responsible business to fine-tune the social problems.
The Bank funds the social and environment projects as part of the corporate social responsibility. Being socially responsible for BR is to have a specific mission and purpose and be committed to achieve specific results, where the corporate purpose is not solely to achieve the financial results but is also concerned with attaining the highest possible social and ecological quality in the pursuit of economic interests. Bank Republic is a member of UN Global Compact in terms of the CSR. Stable development issues are evident in priority trends of Societe Generale. The Group adheres the CSR concept through the own products, service and selected target markets. Bank Republic participates in the strategy by attainment of the environmental, social and economic goals.
Bank Republic is targeting on significant income growth and will continue to invest in organic development of the business and rapid expansion of its Branch Network. One of the components of BR Strategy is operational excellence. Bank perceives strong franchise health with customers, employees and communities as a proxy for future growth. Furthermore, the continuous support of Societe Generale Group will provide Bank Republic with increasing confidence, additional benefits and profitable synergies.
Overcoming the war and financial difficulties with traditional dignity, Georgia can be already estimated as an independent country, with definite perspectives and remarkable results of development. We all know that the path to the independence for any ex-Soviet country, and for Georgia as well, is very complicated, challenged by the internal and external conflicts and resulting injuries to the integrity of the country and its economy.
Georgia proved to be resistant to the severe local conditions and international crisis. Today we all witness the positive signs of recovery of global economy as well. Georgia, distinguished with the young and smart leaders, keen to attract new investors and increase the employment rates, is stably becoming one of the most attractive countries for the international business society. Georgia offers fresh market, not yet very flooded by the international giants, secures the opportunity for any interested investor to successfully develop the business. An important and positive part of Georgia is the evolution of the economic and financial environment. For the recent times, Georgia has made tremendous efforts for making sound situation in the country with less corruption, less custom duties, less taxes, Georgia has been recognized as the best reformer by World Bank and positively forecasted by IMF. In addition, Georgia is a very attractive location to invest. However, Georgia is facing some competition also with the newly rebuilt countries like Bulgaria, Rumania, Ukraine, etc who also offer very good condition for foreign investors and it is important that Georgia keeps the competitive edge over other countries, because the international situation is not an easy one and we have to work hard to keep this opportunity for foreign investors.
The biggest deal in Georgia banking sector was concluded in 2006, when Societe Generale Group took over controlling interests in Bank Republic (60% stakes), which definitely gave Bank Republic access to international Finance. Bank Republic is smoothly becoming the Western-type bank, strong in corporate and retail business, distinguished by the innovative banking solutions, superior quality of service, loyalty to the customers and whole society. SG, forecasting the long-term partnership with Bank Republic, increased the shares up to 80% last year, supporting BR in development of each direction and making the Bank the merited member among of the modern, international peers.
