ANNUAL INFLATION IN AUGUST MADE UP 4.8%
Sakstat reported that annual inflation in August made up 4.8%. In comparison with previous month (July), inflation rate made up negative 0.02% (i.e. deflation).
IMF TECHNICAL MISSION: MEASURES TAKEN BY NBG HELPED TO ENHANCE RESILIENCE OF NONBANK SECTOR. BUT CHALLENGES REMAIN
Measures, undertaken by National Bank of Georgia (NBG), have helped to enhance resilience of nonbank sector and improved reputation of micro-financial institutions (MFIs), technical mission of the IMF states. “Nonetheless, there remain issues and challenges in the sector”, the mission points.
NBG: PROVISION ON CARD TOOLS WILL ENTER IN FORCE IN SEPTEMBER
In September, provision on card tools will enter in force, National Bank of Georgia (NBG) announced. As NBG noted, new document will replace provision of 2011.
NBG: RULE OF CONSUMER’S STRONG AUTHENTICATION WILL ENTER IN FORCE IN SEPTEMBER
Rule of strong authentication of payment service user will enter in force in September, National Bank of Georgia (NBG) announced. The rule fully complies with European Commission’s regulation of 2017, NBG noted.
5 TYPES OF INSURANCE ACCOUNTED AS OF JUNE 30 FOR 92.8% OF TOTAL REIMBURSEMENTS
Georgian State Service for Insurance Supervision reported that as of June 30, in total reimbursements of Georgian insurance companies (154.3 million lari), 5 types of insurance accounted for 92.8%, or 143.3 million lari.
Medical (health) insurance is on the first position with reimbursements of 87.1 million lari, which volume has decreased year-on-year by 5.2%.
AS OF SEPTEMBER 3, HAZELNUT EXPORT INCREASED 1.8 TIMES Y-O-Y
As of September 3, Georgia exported 1,797 t of hazelnut, Georgian Ministry of Environmental Protection and Agriculture reported. For the same period of 2019, export made up 991 t (i.e., year-on-year growth makes up 1.8 times), the Ministry noted.
AS OF SEPTEMBER 3, EXPORT OF PEACHES INCREASED BY 86% Y-O-Y
As of September 3, Georgia exported 24,240 t of peaches and nectarine, Georgian Ministry of Environmental Protection and Agriculture reported. If compared with the same period of 2019, export volume has increased by 11,208 t (i.e., by 86%), the Ministry noted.
AS OF 6 MONTHS, 5 COMPANIES ACCOUNTED FOR 68.6% OF TOTAL PREMIUM, ATTRACTED IN INSURANCE OF LAND TRANSPORT
Georgian State Service for Insurance Supervision reported that in total premium, attracted from insurance of land motor transport (except railway) by Georgian insurance companies in 6 months (59 million lari), 5 companies accounted for 68.6%, or 40.5 million lari.
On the first position is TBC Insurance with premium of 12.24 million lari, which has reduced year-on-year by 14.5%.
“GPIH” FINISHED FIRST HALF OF THE YEAR WITH NET PROFIT OF 3.7M LARI
GPIH reported net profit of 3.7 million lari for the first half of this year. According to report of this Georgian insurance company, it had loss of 1.7 million lari for the same period of last year.
PROFIT OF “IMEDI-L” FOR FIRST HALF OF THE YEAR DECREASED BY 35.2% Y-O-Y
Imedi-L reported net profit of 1.45 million lari for the first half of this year. According to report of this Georgian insurance company, the volume has decreased by 35.2% year-on-year.
“CREDO BANK” FINISHED FIRST HALF OF THE YEAR WITH LOSS OF 4.7M LARI
Credo Bank reported loss of 4.7 million lari for the first half of this year. In the 1st quarter, the bank had loss of 6.8 million lari, while a year ago – net profit of 10.1 million lari.
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