Stock Market News
BGEO's Bank of Georgia signs GEL 75m loan agreement
BGEO Group announced on Thursday that its banking subsidiary, JSC Bank of Georgia, has signed a GEL 75m (£22.06m) loan agreement with the Black Sea Trade and Development Bank, with tranches up to five years duration.
The FTSE 250 company said the local currency loan facility would be used to finance the development of Georgian small and medium-size enterprises, which its board said reinforced the bank's commitment to support SMEs in Georgia and underpinned its leading position in the SME sector.
Black Sea Trade and Development Bank raised the local currency funds through a public placement of GEL-denominated bonds on the Georgian Stock Exchange, arranged by BGEO's wholly owned brokerage subsidiary Galt & Taggart.
"I am very pleased that Bank of Georgia and our partner BSTDB have once again successfully co-operated on a local currency transaction," said Bank of Georgia CEO Kaha Kiknavelidze.
"As the demand for GEL-denominated funding grows year over year we continue to leverage our long-term partnerships with development financial institutions to secure our customers the funding they need.
"I would like to thank BSTDB for supporting us in our aim to contribute to the further de-dollarisation of Georgia's economy."
The FTSE 250 company said the local currency loan facility would be used to finance the development of Georgian small and medium-size enterprises, which its board said reinforced the bank's commitment to support SMEs in Georgia and underpinned its leading position in the SME sector.
Black Sea Trade and Development Bank raised the local currency funds through a public placement of GEL-denominated bonds on the Georgian Stock Exchange, arranged by BGEO's wholly owned brokerage subsidiary Galt & Taggart.
"I am very pleased that Bank of Georgia and our partner BSTDB have once again successfully co-operated on a local currency transaction," said Bank of Georgia CEO Kaha Kiknavelidze.
"As the demand for GEL-denominated funding grows year over year we continue to leverage our long-term partnerships with development financial institutions to secure our customers the funding they need.
"I would like to thank BSTDB for supporting us in our aim to contribute to the further de-dollarisation of Georgia's economy."
Related share prices |
---|
Bank of Georgia Group (BGEO) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price