Bank of Georgia Capital Increase

Location:

Georgia

Project number:

36417

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

01 Nov 2005

Status:

Complete

PSD disclosed:

02 Sep 2005

Project Description

The proposed capital increase will enable Bank of Georgia to maintain regulatory capital adequacy required by the Central Bank regulations and to continue to expand its lending business.

Transition Impact

The proposed transaction will contribute to the transition by further developing one of Georgia’s leading banks, which is a systemic bank and enjoys a very good reputation in an early transition country.

The Client

Bank of Georgia is one of Georgia’s leading banks with the latest audited equity base of US$ 29 million. Bank of Georgia is a universal bank providing a variety of banking products and services to its customers with a large bank network across Georgia.

EBRD Finance

Up to US$ 1 million for subscription to newly issued shares.

Project Cost

Up to USD 7 million depending on final bid price.

Environmental Impact

Bank of Georgia will be required to continue to comply with the EBRD’s Environmental Procedures for Small and Micro Loans, including adherence to EBRD’s Exclusion and Referral Lists, compliance with applicable Georgian environmental, health, safety and labour legislation and submission of Annual Environmental Reports to the EBRD.

Technical Cooperation

Bank of Georgia has received significant technical assistance since the 1998 with the original ABN AMRO Institution Building Program. Subsequently one of ABN AMRO consultants worked on implementation of various recommendations designed under the twinning program. Bank of Georgia was a participant in a TC project when the Senior Advisor assisted Bank of Georgia’s senior management in marketing efforts and corporate client relationships.

Company Contact

Macca Ekizashvilli, Head of Investor Relations
Bank of Georgia
Phone: +995 32 444 256.
Web Page: www.bog.ge/ir.

 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

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Text of the PIP

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