Bank of Georgia Holdings has cut interest rates on its foreign currency - predominantly US dollar denominated - and Georgian lari retail, corporate and wealth management term deposits, in line with the bank's strategy and general trend across the Georgian economy. Interest rates have been reduced by up to 150 bps on one year US$ dollar denominated deposits. Since the year-end 2012, the interest rates on US dollar denominated deposits have been reduced by 300 bps. The contractual rate on foreign currency 12 month deposit were brought down to 5.0%, the lowest ever rate offered by a Georgian bank. Interest rates on the deposits with different maturities have been adjusted accordingly. Chief executive Irakli Gilauri said: "We are delighted that the strength of our franchise and strong liquidity levels enable us to make further reductions on client deposits on the back of continuous deposit inflows since the year-end. "As a result of active liability management we have reached a record low cost of deposits in Q1 2013 and the subsequent interest rate cuts are expected to further improve our cost of funds."
28 May '13
look chart, technically shows strong movement trend up, only the sky is the limit. very easy and risk free money in my opinion. i'm in!
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