Last checked at 13 Apr 2017 07:00
London, 13 April 2017
ANNUAL REPORT 2016
BGEO Group PLC ("BGEO") (LSE: BGEO) has today published its Annual Report and Accounts for the financial year ended to 31 December 2016 (the Annual Report 2016).
A copy of the Annual Report 2016 has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM. The Annual Report 2016 is also available on BGEO's website at www.bgeo.com.
BGEO's Annual General Meeting is scheduled for 1 June 2017 and the Notice of Annual General Meeting will be dispatched to shareholders on or around 2 May 2017.
Name of authorised official of issuer responsible for making notification:
Giorgi Alpaidze, Head of Investor Relations
About BGEO Group PLC
The Group: BGEO Group PLC ("BGEO" or the "Group" - LSE: BGEO LN) is a UK incorporated holding company of a Georgia-focused investment platform. BGEO invests in the banking and non-banking sectors in Georgia (BGEO and its subsidiaries, the "Group"). BGEO aims to deliver on a 4x20 strategy: at least 20% ROAE and at least 20% growth of retail loan book in Banking Business, and at least 20% IRR and up to 20% of the Group's profit from Investment Business.
Banking Business: Our Banking Business comprises at least 80% of the Group's profit and consists of Retail Banking, Corporate Banking and Investment Management businesses at its core and other banking businesses such as P&C Insurance, Leasing, Payment Services and Banking operations in Belarus ("BNB"). The Group strives to benefit from the underpenetrated banking sector in Georgia especially through its Retail Banking services. JSC Bank of Georgia ("BOG" or the "Bank") is the main entity in the Group's Banking Business.
Investment Business: Our Investment Business comprises up to 20% of the Group's profit and consists of Georgia Healthcare Group (Healthcare Business) - an LSE (London Stock Exchange PLC) premium listed company, m2 Real Estate (Real Estate Business), Georgia Global Utilities (Utility Business or GGU) and Teliani Valley (Beverage Business). Georgia's fast-growing economy provides opportunities in a number of underdeveloped markets and the Group is well positioned 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 | 'B1/NP' (FC) & 'Ba3/NP' (LC) |
For further information, please visit www.bgeo.com or contact:
Irakli Gilauri | Michael Oliver | Giorgi Alpaidze |
Group CEO | Adviser to the CEO | Head of Investor Relations |
+995 322 444 109 | +44 203 178 4034 | +995 322 444 444 (ext. 3979) |
igilauri@bog.ge | moliver@bog.ge | g.alpaidze@bog.ge |
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