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Bank of Georgia Group announced on Thursday that its banking subsidiary JSC Bank of Georgia has been recognised as the 'Best Sub-Custodian Bank in Georgia 2018' by Global Finance.
The demerger of BGEO Group into Bank of Georgia Group and its former investment business Georgia Capital became effective at 0800 BST on Tuesday morning, the newly-separated companies said.
Bank of Georgia posted a decent 18.8% rise in its first quarter profit to GEL 128.56m on Monday, with basic earnings per share ahead 16.7% year-on-year to GEL 3.08.
BGEO Group was celebrating on Tuesday, after its banking business subsidiary JSC Bank of Georgia was recognised as the 'Best Issuing Bank Partner for Women-Owned Businesses in Europe and Central Asia' for 2017, by International Finance Corporation's Global Trade Finance Programme (GTFP), in cooperation with the Banking on Women Programme.
BGEO Group's real estate subsidiary, m2 Real Estate, has acquired an under-construction hotel in Gudauri for a total cash consideration of $7.2m including VAT, it announced on Friday.
BGEO's subsidiary, M2 Real Estate, has acquired an 8,512 square metre land plot in Telavi, Kakheti, for $1.5m in cash, on which it plans to develop a hotel.
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.
BGEO Group has appointed Zdenek Radil as chief executive officer of Global Beer Georgia with immediate effect, it announced on Thursday.
BGEO Group announced on Wednesday that its banking business subsidiary, JSC Galt & Taggart, has been recognised as the best investment bank in Georgia for 2018 by Global Finance for the fourth consecutive year.
BGEO Group announced on Tuesday that its real estate subsidiary, m2 Real Estate, has opened a Ramada Encore hotel in Tbilisi - the company's first hotel under an exclusive development agreement with Wyndham.
David Tsiklauri, chief financial officer of investment bank BGEO, disposed of 8,320 ordinary shares in the firm on Tuesday at a price of 3,384.00p per share, pocketing £281,548.80 in the process.
BGEO Group announced on Wednesday that its banking business subsidiary, JSC Bank of Georgia, has signed a loan agreement with Symbiotics - a Swiss investment company active in emerging and frontier economies.
BGEO Group, the investment company that owns the Bank of Georgia, grew profits 8.1% last year as it prepares to split into two in 2018.
BGEO Group, formerly Bank of Georgia, said on Thursday that its investment business holding company, Georgia Capital, has mandated a number of investment banks to consider the potential issuance of a Eurobond.
BGEO Group said on Monday that its board has approved the demerger announced last July and that its investment business, Georgia Capital, plans to increase its stake in Bank of Georgia to 19.9%, from the previously announced 9.9%.
BGEO Group announced on Thursday that its banking business subsidiary, JSC Bank of Georgia, has acquired a 100% equity stake in Georgian craft beer business Black Lion.
BGEO Group announced on Tuesday that its banking business subsidiary, JSC Bank of Georgia, has been recognised as the 'best foreign exchange provider in Georgia' for 2018 by Global Finance, for the second consecutive year.
BGEO Group announced on Thursday that its property and casualty insurance subsidiary, JSC Aldagi, has signed a three-year partnership agreement with JSC Credo Bank.
BGEO Group announced in an update on Monday that its banking business subsidiary, JSC Bank of Georgia, has been recognised as the 'Best Trade Finance Bank' in Georgia in 2017 by Global Finance for the second consecutive year.