BOG signs US$35 million loan agreement with DEG

Released : 24 Oct 2014 08:40

RNS Number : 2190V
Bank of Georgia Holdings PLC
24 October 2014
 

 

 

 

London, 24 October 2014

 

Bank of Georgia signs US$35 million loan agreement with DEG

 

Bank  of  Georgia  Holdings  PLC  ("BGH"),  the  holding  company  of  JSC  Bank  of  Georgia  ("the  Bank"), Georgia's leading bank, announces that the Bank has signed a US$35 million senior loan agreement with Deutsche Investitions und Entwicklungsgesellschaft mbH ("DEG"). The loan bears a maturity of five years and will be used to extend financing to the growing SME sector in the country.

"I'm very pleased to once again join forces with the Bank's long standing partner DEG and reinforce our commitment to supporting small and medium size enterprises in Georgia. The loan will enable us to enhance access to financing for our SME clients and further increase our competitiveness in the sector," said Irakli Gilauri, CEO, Bank of Georgia.

"Bank of Georgia and DEG have been partners for almost fifteen years now. We are proud to announce a further long-term financing for our long-time partner, earmarked for its business operations with SME clients. In doing so, we contribute to strengthening the Georgian financial sector and to creating and safeguarding jobs," said Ingrid van Wees, Senior Director Asia/Europe, DEG.

 

 

 

 

About Bank of Georgia Holdings PLC

Bank of Georgia Holdings PLC is a UK-incorporated holding company of Bank of Georgia. Bank of Georgia is the leading Georgian bank, based on total assets (with a 32.8% market share), total loans (with a 31.6% market share) and client deposits (with a 29.0% market share) as of 30 June 2014, all data based on standalone financial information filed by banks in Georgia with the National Bank of Georgia. The Bank offers a broad range of corporate banking, retail banking, wealth management, brokerage and insurance and healthcare services to its clients. As of 30 June 2014, the Bank served approximately 1.3 million client accounts through one of the largest distribution networks in Georgia, with 206 branches, the country's largest ATM network, comprising 510 ATMs, 2,038 Express pay (self-service) terminals and a full-service remote banking platform and a modern call center.

 

Bank of Georgia has, as of the date hereof, the following credit ratings:

Standard & Poor's

'BB-/B'


FitchRatings

'BB-/B'


Moody's

'B1/NP' (FC) & 'Ba3/NP' (LC)


For further information, please visit www.bgh.co.uk, www.bog.ge/ir or contact: 

Irakli Gilauri

Nikoloz Gamkrelidze

Macca Ekizashvili

Chief Executive Officer

Deputy CEO, Finance

Head of Investor Relations

+995 322 444 109

+995 322 444 126

         +995 322 444 256

igilauri@bog.ge

ngamkrelidze@bog.ge

          ir@bog.ge

 

This news report is presented for general informational purposes only and should not be construed as an offer to sell or the solicitation of an offer to buy any securities

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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