Daily News August 10, 2022	Days:  08 09 10 11 12

economics

IN AUGUST, NBG HAS BOUGHT ALREADY $70M

National Bank of Georgia (NBG) declared about purchase of $40 million at the currency auction today. The average weighted exchange rate made up 2.7096 GEL/USD.




“TBC CAPITAL”: LARI IS CLOSE TO ITS LONG-TERM TREND

TBC Capital declared that lari is close to its long-term trend. The company indicated that Georgian national currency has strengthened recently, after being heavily undervalued.




IN Q2, DOMESTIC TRANSACTIONS BY GEORGIAN ISSUERS’ CARDS INCREASED BY 23% Y-O-Y

National Bank of Georgia reported that domestic transactions, conducted in the 2^nd quarter by resident issuers’ payment cards, totaled to 12.6 billion lari. If compared with the same period of 2021, the volume has increased by 23%.




IN Q2, FOREIGN TRANSACTIONS BY GEORGIAN ISSUERS’ CARDS INCREASED BY 93.2% Y-O-Y

National Bank of Georgia reported that transactions, conducted in the 2^nd quarter by resident issuers payment cards abroad, totaled to equivalent of 1.36 billion lari. If compared with the same period of 2021, the volume has increased by 93.2%.




AS OF JUNE 30, NUMBER OF DEBIT CARDS IN GEORGIA INCREASED BY 5.3% Y-O-Y

National Bank of Georgia reported that as of June 30, there were 6.5 million debit cards in circulation in the country. The number has increased by 3.7% quarter-on-quarter and by 5.3% year-on-year.




AS OF JUNE 30, NUMBER OF CREDIT CARDS IN GEORGIA INCREASED BY 4.4% Y-O-Y

National Bank of Georgia reported that as of June 30, there were 576,081 credit cards in circulation in the country. The number has decreased by 30.4% quarter-on-quarter, but increased by 4.4% year-on-year.




MINISTRY OF REGIONAL DEVELOPMENT AND INFRASTRUCTURE: REHABILITATION OF 9 DAMAGED ROAD SECTIONS IN GURIA SHOULD BE COMPLETED BY THE END OF NOVEMBER

Georgian Ministry of Regional Development and Infrastructure declared that rehabilitation of 9 damaged road sections (up to 63 km in total) in Guria region, which started at the end of May 2021, should be completed by the end of November. Works are carried out through financing of the World Bank.

business

“TBC BANK” ATTRACTED 300M LARI FROM FMO

TBC Bank Group declared that its subsidiary TBC Bank and FMO (the Dutch entrepreneurial development bank) have signed a loan agreement of 300 million lari.

The 5-year loan resource is intended mainly for young entrepreneurs and mortgage borrowers, as well as for green projects and micro, small and medium-sized businesses, the group specified.