Daily News
May 17, 2019
IN THIS ISSUE:
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| 1. |
AS OF MARCH 31, TOTAL CREDITS INCREASED BY 15.1% Y-O-Y
Economics
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National Bank of Georgia reported that as of March 31, total volume of credits made up 26.8 billion lari, increasing year-on-year by 15.1%. If excluding exchange rate effect, the credits increased year-on-year by 20.7%, while real growth (i.e. additionally excluding inflation) made up 17%.
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| 2. |
AS OF MARCH 31, TOTAL DEPOSITS INCREASED BY 10.3% Y-O-Y
Economics
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National Bank of Georgia reported that as of March 31, total volume of deposits amounted to 23.1 billion lari, increasing by 10.3% year-on-year. If excluding exchange rate effect, the deposits increased by 17.8%, while real growth (i.e. additionally excluding inflation) made up 14.1%.
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| 3. |
IN Q1, BANKS WROTE OFF CREDITS OF 71.8M LARI
Economics
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National Bank of Georgia (NBG) reported that in the 1st quarter, Georgian banks wrote off credits, totaling to 71.8 million lari. Property, pledged by bad borrowers and appearing in property of the banks, totaled in the end of March to 162 million lari.
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| 4. |
PRIME MINISTER: WE WILL SURELY CONTINUE CONSTRUCTION OF HYDROELECTRIC STATIONS
Economics
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We will surely continue construction of hydroelectric stations so that interests of local population were always protected, Georgia’s Prime Minister Mamuka Bakhtadze declared to journalists. He pointed also that any project has to conform to highest environmental standards.
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| 5. |
THE GOVERNMENT: CONSTRUCTION OF MULTIFUNCTIONAL EDUCATIONAL COMPLEX BEGINS IN BATUMI
Economics
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Georgian government reported about launch construction of new multifunctional educational complex in Batumi, which will occupy area of 7 ha. Prime Minister Mamuka Bakhtadze personally presented today the project, which was initiated by him.
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| 6. |
“SAKARTVELOS BANKI” TO PAY DIVIDENDS OF 139.2M LARI
Business
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Sakartvelos Banki (Bank of Georgia) will pay dividends of 139.2 million lari from profit for 2018, declared BGEO Group (owner of over 75% of ordinary shares of the bank). Decision on dividends’ distribution was made on May 14.
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| 7. |
DIRECTOR OF “GEORGIAN AIRPORTS ASSOCIATION”: WITH HIGH PROBABILITY, NEGOTIATIONS WITH “RYANAIR” WILL BE SUCCESSFULLY ACCOMPLISHED
Business
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Giorgi Chogovadze, director of state-owned LLC Georgian Airports Association, said that with high probability, negotiations with Irish low-coster Ryanair will be accomplished successfully. Supposedly, the airline will launch operation in Georgia from the next year, he noted.
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| 8. |
LLC “TEDA” GOT LICENSE FOR GOLD-COPPER-POLYMETALS EXTRACTION IN TSALKA MUNICIPALITY
Business
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On May 16, electronic auction expired on the 20-year license for exploration and extraction of gold-copper-polymetals in the village Khachkoi (Tsalka municipality of Kvemo Kartli region). As Georgian National Mining Agency announced, the license holder became LLC Teda.
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