Last checked at 13 Aug 2019 07:00
London, 13 August 2019
JSC Bank of Georgia signs US$50 million Trade Finance Facility with Citi
Bank of Georgia Group PLC ("the Group") announces that JSC Bank of Georgia (the "Bank" or "Bank of Georgia") has signed a one-year US$50 million Trade Finance Facility ("the Facility") with Citi. The Facility has been arranged under the Continuing Agreement for Reimbursement of Trade Advances ("CARTA"), signed with Citi in 2011, and is the third successful transaction between Citi and Bank of Georgia under this agreement. The Facility aims to enhance the Bank's best-in-class offering of trade finance solutions for the Georgian corporate and small and medium sized (SME) sectors.
Archil Gachechiladze, Bank CEO commented: "I am very glad to see that Bank of Georgia and our trusted partner Citi continue to actively cooperate on trade finance deals, which enable us to strengthen our position as a go-to bank for tailor-made trade finance products in Georgia. Facilities of this kind are important for our corporate, as well as SME clients that are actively engaged in export-import transactions and we aim to remain a reliable financial support for them."
Name of authorised official of issuer responsible for making notification: Natia Kalandarishvili, Head of Investor Relations and Funding
About Bank of Georgia Group PLC
Bank of Georgia Group PLC ("Bank of Georgia Group" or the "Group" - LSE: BGEO LN) is a UK incorporated holding company, which comprises: a) retail banking and payment services, b) corporate and investment banking and wealth management operations and c) banking operations in Belarus ("BNB"). JSC Bank of Georgia ("Bank of Georgia", "BOG" or the "Bank"), the leading universal bank in Georgia, is the core entity of the Group. The Group targets to benefit from superior growth of the Georgian economy through both its retail banking and corporate and investment banking services and aims to deliver on its strategy, which is based on at least 20% ROAE and c.15% growth of its loan book.
JSC Bank of Georgia has, as of the date hereof, the following credit ratings: | |
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Fitch Ratings | 'BB-/B' |
Moody's | 'Ba3/NP' (FC) & 'Ba2/NP' (LC) |
For further information, please visit www.bankofgeorgiagroup.com or contact:
Archil Gachechiladze | Michael Oliver | Sulkhan Gvalia | Natia Kalandarishvili |
Group CEO | Adviser to the CEO | Group CFO | Head of Investor Relations |
+995 322 444 144 | +44 203 178 4034 | +995 322 444 108 | +995 322 444 444 (9282) |
agachechiladze@bog.ge | moliver@bgeo.com | sgvalia@bog.ge | ir@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