Notice of Results

Released : 06 Nov 2017 07:00

RNS Number : 6227V
Bgeo Group PLC
06 November 2017
 

 

 

 

 

London, 6 November 2017

 

 

 

BGEO Group PLC notice of 3Q17 and 9M17 Results

 

BGEO Group PLC ("BGEO" or the "Group") will publish its financial results for the third quarter and the first nine months of 2017 at 17:00 London time on Wednesday, 8 November 2017. The results announcement will be available on the Group's website at www.bgeo.com. The results discussion will take place on Thursday, 9 November 2017, during the Investor Day held by BGEO Group in Tbilisi at the following address: Courtyard Marriott (4 Freedom Square, Tbilisi 0105, Georgia. Tel: +995 322 779 100).

 

 

 

 

 

 

Name of authorised official of issuer responsible for making notification: Giorgi Alpaidze, Group CFO

 

About BGEO Group PLC

The Group: BGEO Group PLC ("BGEO"- LSE: BGEO LN) is a UK incorporated holding company of a Georgia-focused investment platform. BGEO invests, via its subsidiaries, in the banking and non-banking sectors in Georgia (BGEO and its subsidiaries, together the "Group"). BGEO aims to deliver on a 4x20 strategy: (1) at least 20% ROAE from its Banking Business; (2) at least 20% growth of its Banking Business retail loan book; (3) at least 20% IRR; and (4) up to 20% of the Group's profit from its Investment Business. On 3 July 2017 BGEO announced its intention to demerge BGEO Group PLC into a London-listed banking business (the "Banking Business") and a London-listed investment business (the "Investment Business") by the end of the first half of 2018. 

Banking Business: Currently representing at least 80% of the Group's profit, will comprise: a) retail banking and payment services, b) corporate investment banking and wealth management operations and c) banking operations in Belarus ("BNB"). JSC Bank of Georgia ("BOG" or the "Bank") is the core entity of the Group's Banking Business. The Banking Business will continue to target to benefit from the underpenetrated banking sector in Georgia primarily through its retail banking services. 

Investment Business: Currently representing up to 20% of the Group's profit, will comprise the Group's stakes in Georgia Healthcare Group PLC ("Healthcare Business" or "GHG") - an LSE (London Stock Exchange PLC) premium-listed company, Georgia Global Utilities ("Utility and Energy Business" or "GGU"), m2 Real Estate ("Real Estate Business" or "m2"), Teliani Valley ("Beverage Business" or "Teliani") and Aldagi ("Property and Casualty Insurance Business" or Aldagi"). Georgia's fast-growing economy provides opportunities in a number of underdeveloped local markets and the Investment Business will target to capture growth opportunities in the Georgian corporate sector.  

 

JSC BGEO Group has, as of the date hereof, the following credit ratings:

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





Fitch Ratings

'BB-/B'

Fitch Ratings

'BB-/B'

Moody's

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

Moody's

'Ba3/NP' (FC) & 'Ba2/NP' (LC)

 

For further information, please visit www.bgeo.com or contact: 

Irakli Gilauri

Michael Oliver

Giorgi Alpaidze

Group CEO

Adviser to the CEO

Group CFO

+995 322 444 109

          +44 203 178 4034

+995 322 444 190

igilauri@bgeo.com

          moliver@bgeo.com

g.alpaidze@bgeo.com

 

 

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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