NBG: CONCENTRATION IN THE BANKING SECTOR REMAINS AT THE HIGH LEVEL
National Bank of Georgia (NBG) indicates that concentration in the country’s banking sector remains at the high level that contains risk from the point of view of financial stability of the country. Though, high concentration facilitates economy because of scale and, respectively, growth of efficiency, NBG points.
NBG: SHARE OF NONRESIDENTS IN TOTAL DEPOSITS IS STABLE, THOUGH AT RELATIVELY HIGH LEVEL
Share of deposits, placed in Georgian banks by nonresidents, in total deposits in the country is stable, though at relatively high level – 17%, National Bank of Georgia (NBG) declares.
In financial stability report, published at the end of last year, NBG specifies that in response to accumulation of deposits of such type, high limit requirement for liquidity was established in 2013 that reduced inflow of nonresidents’ deposits.
EXPENDITURES OF TBILISI BUDGET OF 2020 MAKE UP TO 1.25B LARI
“My election pledge was that the budget of municipality will exceed one billion lari and that happen in 2019”, Tbilisi Mayor Kakha Kaladze declared at the first in this year meeting of the capital government today. In 2020, the budget makes up to 1.25 billion lari, he noted.
TBILISI PARTICIPATES IN “EUROPE’S BEST DESTINATIONS 2020” COMPETITION
Tbilisi City Hall reported that Georgian capital city participates in international competition “Europe’s Best Destinations of 2020” (EBD). The City Hall said that photos, taken by 8 photographers, are selected for that end.
IMPROVEMENT OF TOURIST ZONES AT MOTSAMETA MONASTERY IS COMPLETED
Georgian Ministry of Regional Development and Infrastructure reported about completion of works on improvement of tourist zones at Motsameta monastery (the 8th century, Imereti region).
According to the Ministry, the project worth 1.4 million lari was financed by the World Bank.
TOURIST COMPLEX TO BE ARRANGED IN VARTSIKHE VILLAGE OF BAGDATI MUNICIPALITY
Georgian National Agency of Property reported that within the state program “50 Objects for Your Hotel”, the tourist complex will be arranged in the former mansion of Ananovs in the village of Vartsikhe of Bagdati municipality (Imereti region). As the Agency noted, the complex, along with hotel, will include also exhibition space for alcoholic beverages and sports ground.
FLIGHTS IN RESORT AREAS GODERDZI, MESTIA AND KAZBEGI TO BE CONDUCTED BY “WUCHER HELICOPTER”
Georgian Civil Aviation Agency reported that permission to flights in winter resort areas of the country was issued to Austrian Wucher Helicopter GmbH.
As the Agency specified, Wucher Helicopter will operate in mountain resorts Goderdzi (Ajara), Mestia (Svaneti) and Kazbegi (Mtskheta-Mtianeti) until April 15.
“LIBERTY BANK” INITIATED CASE OF INSOLVENCY OF “RIVALCREDIT”
Kutaisi city court reported that demand of Liberty Bank to launch insolvency case against of microfinancial organization RivalCredit was satisfied. The first meeting of creditors will be held on February 12.
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