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Bank of Georgia Group announces dividend

Bank of Georgia Group announces dividend

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Amendment to the current corporate taxation model applicable to financial institutions

Amendment to the current corporate taxation model applicable to financial institutions

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Global Finance names JSC Bank of Georgia as the Best Sub-custodian Bank in Georgia

Global Finance names JSC Bank of Georgia as the Best Sub-custodian Bank in Georgia

Bank of Georgia Group PLC ("Bank of Georgia Group") is pleased to announce JSC Bank of Georgia (“the Bank” or “Bank of Georgia”) has been recognised as the Best Sub-Custodian Bank in Georgia 2018 by Global Finance. The editorial review board of the Global Finance magazine considered market research, input from expert sources and entry information from banks to select the institutions that reliably provide the best services in local markets and regions. The criteria for selection included: customer relations, quality of service, competitive pricing, smooth handling of exception items, technology platforms, post-settlement operations, business continuity plans and knowledge of local regulations and practices.

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Demerger Update - Demerger Effective

Demerger Update - Demerger Effective

Bank of Georgia Group PLC ("Bank of Georgia Group") is pleased to announce that the demerger of its investment business (the "Investment Business") to Georgia Capital PLC ("Georgia Capital") became effective prior to 8.00 a.m. this morning.

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Demerger Update - Publication of Georgia Capital PLC's Supplementary Prospectus

Demerger Update - Publication of Georgia Capital PLC's Supplementary Prospectus

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Demerger Update - Bank of Georgia Group PLC Capital Reduction

Demerger Update - Bank of Georgia Group PLC Capital Reduction

Bank of Georgia Group PLC ("BOGG") announces that its planned reduction of capital (including capitalising the merger reserve created in connection with the Scheme and as described in its prospectus dated 26 March 2018, the "Prospectus") became effective on 23 May 2018 ("Reduction of Capital"). The Reduction of Capital is a legal and accounting adjustment and is not expected to have any direct impact on the market value of the BOGG shares.

As announced on 21 May 2018, the Reduction of Capital is one of a number of conditions to the Demerger. The Demerger and Georgia Capital Admission are both still expected to occur on 29 May 2018, as set out in more detail in the announcement released by BOGG on 21 May 2018 entitled "Demerger Update - Scheme Effective". The Reduction of Capital has created distributable reserves for BOGG, and as announced on 26 March 2018, it is intended that the BOGG Board will recommend the payment of a dividend in an aggregate amount of approximately GEL 120 million following the Demerger.

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Demerger Update - Bank of Georgia Group PLC Admission

Demerger Update - Bank of Georgia Group PLC Admission

Further to the announcement by Bank of Georgia Group PLC ("Bank of Georgia Group") earlier today, Bank of Georgia Group is pleased to announce that admission of its ordinary shares to the premium listing segment of the Official list and to trading on the London Stock Exchange's main market for listed securities took place at 8.00 a.m. this morning.

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Bank of Georgia Group PLC 1Q18 Results

Bank of Georgia Group PLC 1Q18 Results

Bank of Georgia Group PLC ("Bank of Georgia Group") has published today at 7:00 London time its financial results for the first quarter of 2018. The results announcement is available on the Group’s website at www.bankofgeorgiagroup.com. An investor/analyst conference call, organised by Bank of Georgia Group, will be held today at 14:00 UK / 15:00 CET / 09:00 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

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Bank of Georgia Group PLC 1Q18 Results Presentation

Bank of Georgia Group PLC 1Q18 Results Presentation

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Georgia Capital 1Q18 Results Presentation

Georgia Capital 1Q18 Results Presentation

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Demerger Update - Scheme Effective

Demerger Update - Scheme Effective

Bank of Georgia Group PLC ("Bank of Georgia Group") is pleased to announce that all of the conditions to the scheme of arrangement of BGEO Group PLC ("BGEO"), which was announced on 26 March 2018, (the "Scheme") in connection with the proposed separation of BGEO's investment business (the "Investment Business") by demerger (the "Demerger") to Georgia Capital PLC ("Georgia Capital") have been satisfied and the Scheme has now become effective.

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BGEO Group Notice of 1Q18 Results

BGEO Group Notice of 1Q18 Results

BGEO Group PLC ("BGEO" or the "Group") announces that the proposed new holding company of the Group, Bank of Georgia Group PLC ("Bank of Georgia Group") expects to publish its financial results for the first quarter of 2018 on Monday, 21 May 2018 at 7:00 London time. The results announcement will be available on the Group’s website at www.bgeo.com. An investor/analyst conference call, organised by Bank of Georgia Group, will be held on, 21 May 2018, at 14:00 UK / 15:00 CET / 09:00 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

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IFC names JSC Bank of Georgia as the Best Issuing Partner for Women Owned Businesses in Europe and Central Asia

IFC names JSC Bank of Georgia as the Best Issuing Partner for Women Owned Businesses in Europe and Central Asia

BGEO Group PLC (the “Group” or “BGEO”), announces that its banking business subsidiary, JSC Bank of Georgia (“the Bank”) has been recognised as the Best Issuing Bank Partner for Women Owned Businesses in Europe and Central Asia in 2017 by International Finance Corporation’s (“IFC”) Global Trade Finance Programme (“GTFP”) in cooperation with Banking on Women Programme. Since 2008, the Bank has been actively using GTFP’s resources to extend its capacity to deliver trade finance solutions to its SME and corporate clients, including women-owned enterprises.

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BGEO Group’s real estate subsidiary acquires a hotel in Gudauri

BGEO Group’s real estate subsidiary acquires a hotel in Gudauri

BGEO Group PLC (the “Group” or “BGEO”), announces that the Group’s real estate subsidiary, m2 Real Estate (“m2”or the “Company”), has acquired an under construction hotel in Gudauri (“the Gudauri Hotel”) for a total cash consideration of US$7.2 million (including VAT). The Gudauri Hotel is expected to add at least 134 rooms to m2’s portfolio, conveniently located on the slope with ski-in and ski-out facilities in Gudauri – a leading ski resort in the Caucasus region. The skeleton of the building is already finished and remaining construction works will be carried out by m2’s construction arm. The Company expects to open its doors to its first visitors in December 2018.

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Georgia Capital acquires leading Georgian wine producer

Georgia Capital acquires leading Georgian wine producer

BGEO Group PLC (the “Group” or “BGEO”), announces that its investment business holding company, JSC Georgia Capital (“Georgia Capital”), has acquired a 60% indirect controlling interest in Kindzmarauli Marani, LLC ("Kindzmarauli") through a locally established special-purpose vehicle for a total consideration of US$7.25 million (representing a cash payment for an equity stake and the buyout of an existing shareholder loan).

Kindzmarauli is a producer of exquisite Georgian wines and spirits, which owns 350 hectares of vineyards in Georgia’s Kakheti region. Georgia Capital will consolidate the results of Kindzmarauli’s operations from the acquisition date, and expects that the acquisition will complement and strengthen its existing beverage business with an increased presence in the growing domestic and international markets for Georgian wine.

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BGEO Group PLC – Results of AGM and Court Meeting

BGEO Group PLC – Results of AGM and Court Meeting

The Board of Directors of BGEO Group PLC (the “Company”) announces the results of voting on the resolutions put to shareholders at the Court Meeting (the “Court Meeting”) and its Annual General Meeting (the “AGM”) both held on Monday, 30 April 2018. Details of the resolutions are set out in full in the Notice of Court Meeting and Notice of AGM respectively, both dated 26 March 2018.

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BGEO Group’s real estate subsidiary acquires land plot in Telavi for hotel development

BGEO Group’s real estate subsidiary acquires land plot in Telavi for hotel development

BGEO Group PLC (the “Group” or “BGEO”), announces that the Group’s real estate subsidiary, m2 Real Estate (“m2” or the “Company”), has acquired an 8,512 square metre land plot in Telavi, Kakheti for a total cash consideration of US$1.5 million. The Company intends to develop a hotel on the acquired land plot with approximately 130 rooms (the “Hotel”) over the next two years. Telavi is the largest city in eastern Georgia and a major tourist destination, known as a major wine region in Georgia. The Hotel construction works will be carried out by the Company’s construction arm.

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Moody’s upgrades the credit rating of senior unsecured notes transferred to Bank of Georgia by two notches

Moody’s upgrades the credit rating of senior unsecured notes transferred to Bank of Georgia by two notches

BGEO Group PLC (the “Group” or “BGEO”), announces that on 29 March2018 credit rating agency Moody’s upgraded the credit rating of JSC Bank of Georgia’s senior unsecured notes, previously JSC BGEO Group’s notes prior to their recent substitution, by two notches to Ba2. The outlook on the senior unsecured notes has also been changed to stable, from rating under review. The credit rating upgrade reflects the change of the principal debtor from the holding company to the Bank which has eliminated the structural subordination of the noteholders to the Bank’s creditors. The credit rating of the unsecured notes is aligned to the rating of the Bank and its other senior debt. 

The credit rating assigned to the unsecured notes by Fitch Ratings remains unaffected at BB-.

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JSC Bank of Georgia raises GEL 75 million local currency funding from BSTDB

JSC Bank of Georgia raises GEL 75 million local currency funding from BSTDB

BGEO Group PLC (the “Group” or “BGEO”), announces that its banking subsidiary, JSC Bank of Georgia (the “Bank” or “Bank of Georgia”) continues to attract GEL-denominated funding as the Bank and Black Sea Trade and Development Bank (“BSTDB”) have signed a GEL 75 million loan agreement, with tranches up to five years duration. The local currency loan facility will be used to finance the development of Georgian small and medium-size enterprises (“SMEs”), which reinforces the Bank’s commitment to support SMEs in Georgia and underpins its leading position in the SME sector. BSTDB raised the local currency funds through a public placement of GEL-denominated bonds on the Georgian Stock Exchange arranged by Galt & Taggart, the Group’s wholly owned brokerage subsidiary.

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Demerger documents, Court Meeting and AGM

Demerger documents, Court Meeting and AGM

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BGEO Group PLC announces publishing of its Annual Report 2017

BGEO Group PLC announces publishing of its Annual Report 2017

BGEO Group PLC (“BGEO” or the “Group”) (LSE: BGEO) has today published its Annual Report and Accounts for the financial year ended 31 December 2017 (the “Annual Report 2017”).

A copy of the Annual Report 2017 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 2017 is also available on the Group's website at www.bgeo.com

Details of the BGEO's Annual General Meeting, expected to be held in April, will be sent to shareholders separately in the coming weeks.

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Georgia Capital announces issuance of $300 million 6.125% notes

Georgia Capital announces issuance of $300 million 6.125% notes

On Monday March 5, BGEO Group PLC’s investment business holding company, JSC Georgia Capital (Georgia Capital) successfully priced an inaugural US$ 300 million offering of 6.125% notes due March 2024 (the Notes). The Notes are denominated in US Dollars and are expected to settle on 9 March 2018. The Regulation S/ Rule 144A senior unsecured Notes are being issued and sold at an issue price of 98.770%. J.P. Morgan and Citi are acting as Joint Bookrunners and Joint Lead Managers for the Notes, Renaissance Capital is acting as a Joint Lead Manager and Galt & Taggart is acting as a Co-Manager. Freshfields Bruckhaus Deringer LLP and Baker & McKenzie LLP are acting as legal advisors to the Joint Lead Managers and Georgia Capital, respectively. The Notes are expected to be listed on the Global Exchange Market of the Irish Stock Exchange and to be rated B+ (S&P) and B2 (Moody's). On closing, the issuance is expected to be the first international bond offering by a non-banking, non-state-backed company from Georgia.

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BGEO Group announces the appointment of a new CEO of Global Beer Georgia

BGEO Group announces the appointment of a new CEO of Global Beer Georgia

BGEO Group PLC (the “Group” or “BGEO”), announces that the Group has appointed Zdenek Radil as Chief Executive Officer of Global Beer Georgia LLC (the “Global Beer Georgia” or the “GBG”) with immediate effect. GBG is the beer business arm of the Group’s beverage business (“Teliani”). Prior to this appointment, Zdenek served as an Independent Non-executive Director of Teliani’s Supervisory Board since October 2016. In light of this appointment, Zdenek will step down from Teliani’s Supervisory Board. 

From 2008 to 2016 Zdenek served as the Chairman and Chief Executive Officer of Pivovary Lobkowicz Group, a Czech beer company. During this time Zdenek oversaw the significant strategic development of the company, including the acquisition of seven independent regional breweries and the doubling of the company’s market share on the local market, leading to a successful IPO in 2014. Zdenek has also held various managerial roles in financial and risk management at Czech Telecom, Deloitte & Touche and Erste Bank Group.

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Global Finance names JSC Galt & Taggart as the Best Investment Bank in Georgia

Global Finance names JSC Galt & Taggart as the Best Investment Bank in Georgia

BGEO Group PLC (the “Group” or “BGEO”), announces that its banking business subsidiary, JSC Galt & Taggart (the “Company” or “Galt & Taggart”) has been recognised as the Best Investment Bank in Georgia 2018 by Global Finance for the fourth consecutive year. The editorial review board of the Global Finance magazine selected the winners based on inputs from industry experts. The criteria for selection included: market share, number and size of deals, service and advice, structuring capabilities, distribution network, efforts to address market conditions, innovation, pricing, after-market performance of underwritings and market reputation. Deals announced or completed in 2017 were considered during the selection.

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BGEO Group's real estate subsidiary opens its first hotel in Tbilisi

BGEO Group's real estate subsidiary opens its first hotel in Tbilisi

BGEO Group PLC (the “Group” or “BGEO”), announces that the Group’s real estate subsidiary, m2 Real Estate (“m2” or the “Company”), has opened a Ramada Encore hotel (the “Hotel”) in Tbilisi - the Company’s first hotel under an Exclusive Development Agreement with Wyndham. The Hotel has a capacity of 152 rooms, a restaurant, offers conferencing and fitness facilities, and will cater the needs of the rapidly growing market for budget travelers in Georgia. The average daily rate of the Hotel in the stabilisation year is projected at US$ 110, with 70% expected occupancy rate. The Company’s investment in the Hotel, including the land value, totalled US$ 14 million.

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JSC Bank of Georgia raises GEL 25 million local currency funding from Symbiotics

JSC Bank of Georgia raises GEL 25 million local currency funding from Symbiotics

BGEO Group PLC (the “Group” or “BGEO”), announces that its banking business subsidiary, JSC Bank of Georgia (the “Bank of Georgia”) has signed a loan agreement with Symbiotics (“the Company”) – a Swiss investment company active in emerging and frontier economies. The GEL-denominated loan facility, totaling GEL 25 million (US$10 million) and with a maturity of two to three years, will be used to support Georgia’s micro, small and medium sized enterprises with their increasing local currency financing needs.

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BGEO Group PLC 4Q17 and FY17 Results Presentation

BGEO Group PLC 4Q17 and FY17 Results Presentation

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BGEO Group PLC 4Q17 and FY17 Results

BGEO Group PLC 4Q17 and FY17 Results

BGEO Group PLC ("BGEO" or the "Group") has published today its financial results for the 4th quarter 2017 and the full year 2017. The results announcement is available on the Group's website at www.bgeo.com. An investor/analyst conference call, organised by BGEO, will be held today at 13:00 UK / 14:00 CET / 08:00 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

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Georgia Capital to consider Bond issuance

Georgia Capital to consider Bond issuance

BGEO Group PLC (the “Group” or “BGEO”), announces that its investment business holding company, JSC Georgia Capital, has mandated a number of investment banks to consider the potential issuance of a Eurobond.  There can be no certainty that a transaction will take place and a further announcement will be made, if appropriate, in due course.

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BGEO Group PLC - Update on Proposed Demerger

BGEO Group PLC - Update on Proposed Demerger

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BGEO Group Notice of 4Q17 and FY17 Results

BGEO Group Notice of 4Q17 and FY17 Results

BGEO Group PLC ("BGEO" or the "Group") will publish its financial results for the 4th quarter 2017 and the full year 2017 at 07:00 London time on Friday, 16 February 2018. The results announcement will be available on the Group's website at www.bgeo.com. An investor/analyst conference call, organised by BGEO, will be held on, 16 February 2018, at 13:00 UK / 14:00 CET / 08:00 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

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Georgia Capital acquires leading Georgian craft beer producer

Georgia Capital acquires leading Georgian craft beer producer

BGEO Group PLC (the “Group” or “BGEO”), announces that its investment business holding company, JSC Georgia Capital, has acquired a 100% equity stake in a leading Georgian craft beer producer, Black Lion LLC (“Black Lion” or the “Company”). Black Lion is the largest producer of a premium class craft beer in Georgia and operates a brewery with a capacity to produce 3 million litres per year. The Company launched sales in the beginning of 2016 and sold approximately 300,000 litres of craft beer in 2017, primarily targeting restaurants and bars in Tbilisi. The acquisition of Black Lion complements the existing basket of beverage products offered by the Group’s beverage business.

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Global Finance names JSC Bank of Georgia as the Best Foreign Exchange Provider in Georgia

Global Finance names JSC Bank of Georgia as the Best Foreign Exchange Provider in Georgia

BGEO Group PLC (the “Group” or “BGEO”), announces that its banking business subsidiary, JSC Bank of Georgia (“the Bank”) has been recognised as the Best Foreign Exchange Provider in Georgia 2018 by Global Finance for the second consecutive year. The editorial review board of the Global Finance magazine selected the winners based on inputs from industry analysts, corporate executives and technology experts. The criteria for selection included: transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies.

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BGEO Group's P&C insurance subsidiary signs long-term partnership agreement

BGEO Group's P&C insurance subsidiary signs long-term partnership agreement

BGEO Group PLC (the “Group” or “BGEO”), announces that the Group’s property and casualty insurance subsidiary, JSC Aldagi (“Aldagi” or the “Company”), has signed a three-year partnership agreement with JSC Credo Bank (“Credo Bank” or the “Bank”). Credo Bank was originally established as a microfinance organisation in 2007 and obtained a banking license in March 2017. Credo Bank has a wide network of branches across Georgia and provides financial services to micro, small and medium-sized businesses, with specific expertise in providing financial services to rural customers. As part of the partnership agreement, Aldagi will have rights to offer its retail insurance products to the Bank’s clients, in exchange for a commission fee based on the premium of each underwritten insurance policy. The partnership agreement marks a continuation of an already established successful relationship between Aldagi and Credo Bank.

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Global Finance names JSC Bank of Georgia as the Best Trade Finance Bank in Georgia

Global Finance names JSC Bank of Georgia as the Best Trade Finance Bank in Georgia

BGEO Group PLC (the “Group” or “BGEO”), announces that its banking business subsidiary, JSC Bank of Georgia (“the Bank”) has been recognised as the Best Trade Finance Bank in Georgia in 2017 by Global Finance for the second consecutive year. The editorial review board of the Global Finance magazine selected the winners based on inputs from industry analysts, corporate executives and technology experts. The criteria for selection included: transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies. This is the fifth time the Bank has been granted with this reputable award since 2010.

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BGEO Group announces a new name for its Investment Business

BGEO Group announces a new name for its Investment Business

BGEO Group PLC (the “Group” or “BGEO”) announces that in light of the proposed demerger the Group’s Board of Directors has approved the renaming of the Group’s Investment Business to Georgia Capital (the “Company”). The new name better reflects the Company’s focus to capitalise on Georgia’s fast-growing economy by investing its capital solely in Georgia. As a result, following the completion of the Group’s proposed demerger into a London-listed banking business (Bank of Georgia Group PLC) and a London-listed investment business (Georgia Capital PLC), the Group expects to retire its current holding company name of BGEO Group.

Georgia Capital’s management and staff will relocate to a new head office by the end of February 2018. New contact information will be as follows: 

Address: 3/5, Tatishvili Street, 0179, Tbilisi, Georgia

Investor Relations contact: ir@gcap.ge

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BGEO Group’s P&C insurance subsidiary signs major third-party partnership agreement

BGEO Group’s P&C insurance subsidiary signs major third-party partnership agreement

BGEO Group PLC (the “Group” or “BGEO”), announces that the Group’s property and casualty insurance subsidiary, Aldagi (the “Company”), has signed a major third-party partnership agreement with JSC Liberty Bank (“Liberty Bank” or the “Bank”) to enhance the distribution capabilities of its motor third party liability (“MTPL”) insurance business. Liberty Bank is the third largest bank in Georgia by total assets, and enjoys the largest branch and service outlet network in the country. As part of the partnership agreement, Aldagi’s MTPL products will be offered to the Bank’s clients through Liberty Bank’s large retail footprint in exchange for a commission fee based on the premium of each underwritten insurance policy.

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JSC Bank of Georgia draws down the remaining tranche of EBRD’s local currency facility

JSC Bank of Georgia draws down the remaining tranche of EBRD’s local currency facility

BGEO Group PLC (the “Group” or “BGEO”), announces that its banking business subsidiary, JSC Bank of Georgia (the “Bank”) has recently drawn-down GEL 135 million - the second tranche of the local currency facility signed with European Bank for Reconstruction and Development (“EBRD”) in May 2016. Similar to the first tranche disbursed upon signing the loan agreement, the second tranche has a maturity of five years and aims to further support micro, small and medium sized enterprises in their alignment with the European Union’s Deep and Comprehensive Free Trade Agreement requirements, as well as women-led companies. EBRD raised the local currency funds through a private placement of GEL-denominated bonds arranged by Galt & Taggart, the Group’s wholly owned brokerage subsidiary. As a result, total funds attracted by the Bank through this EBRD local currency facility now total GEL 242 million.

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Regulator sets new tariffs for BGEO Group's water utility business

Regulator sets new tariffs for BGEO Group's water utility business

BGEO Group PLC (the “Group” or “BGEO”), announces that Georgian National Energy and Water Supply Regulatory Commission (“GNERC”), the independent body that regulates the Group’s utility and energy business - Georgia Global Utility (“GGU” or the “Company”), has approved new tariffs for water supply and sanitation (“WSS”) services. The tariffs have been updated according to the new methodology adopted by GNERC in August 2017, which is based on international best practice and represents a hybrid method of “cost plus” and “incentive based” methodologies, where revenue is determined based on a company’s Regulatory Asset Base (RAB). The return on investment, referred to as WACC in the methodology, for the first regulatory period, defined as three years in the methodology, is set at 15.99% (up from 13.54% in 2017).

 

The new WSS tariffs have been set for a three year regulatory period, effective from 1 January 2018. The WSS tariffs in Tbilisi have increased by 23.8% for residential customers and decreased by 0.4% for legal entities. The increase in residential tariffs is the first step towards gradually unifying the WSS tariffs for all customers.

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BGEO Group’s real estate subsidiary acquires controlling stake in a lifestyle boutique hotel

BGEO Group’s real estate subsidiary acquires controlling stake in a lifestyle boutique hotel

BGEO Group PLC (the “Group” or “BGEO”), announces that the Group’s real estate subsidiary, m2 Real Estate (“m2” or the “Company”), has acquired a 50% stake from a third-party in an upcoming lifestyle boutique hotel (the “Hotel”) in Tbilisi for a total cash consideration of US$4.1 million. Additionally, m2 has an option to increase its shareholding to 60% stake by injecting US$1.9 million into the Hotel’s capital. The Hotel, which is expected to add at least 100 rooms to m2’s portfolio, is conveniently located on Mtatsminda hill - a neighbourhood with one of the most spectacular panoramic views of the capital.

 

The Hotel construction works are being carried out by the Company’s construction subsidiary.  The skeleton of the building is already finished and completion is expected in the first quarter of 2019. The Hotel, with its boutique style intertwined with a focus on the concept of wine and fine dining, is expected to attract a growing number of tourists, as well as the affluent local population.

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BGEO Group’s real estate subsidiary awarded a major construction contract

BGEO Group’s real estate subsidiary awarded a major construction contract

BGEO Group PLC (the “Group” or “BGEO”), announces that the Group’s real estate subsidiary, m2 Real Estate (“m2” or the “Company”), has signed its first major third-party construction contract. m2has been awarded the contract to construct the shell and core of a new shopping mall and business centre located in Tbilisi’s Saburtalo district (the “Project”). The Company’s construction arm plans to carry out construction works over the sixteen months following the planned Project commencement in January 2018. The total value of the contract, which covers construction management services and the Project costs, is $11.6 million.

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BGEO Group's utility and energy subsidiary commences the construction of Bodorna HPP

BGEO Group's utility and energy subsidiary commences the construction of Bodorna HPP

BGEO Group PLC (the “Group” or “BGEO”), announces that the Group’s utility and energy subsidiary,Georgia Global Utilities (“GGU” or “the Company”), has today commenced construction of Bodorna hydro power plant (“Bodorna HPP”) near Bodorna reservoir, an integral part of the Company’s water utility infrastructure located approximately 55 kilometers away from Tbilisi. The 2.5MW plant will have an average annual electricity production capacity of 15 million KW/hours and will be primarily used for GGU’s internal consumption, with the excess energy supply sold to third parties. Bodorna HPP construction will be carried out by local companies and will be supervised by Swiss engineering company Stucky SA. GGU has secured long-term credit facilities totaling a combined GEL 10 million, from the Dutch (FMO) and German (DEG) development banks to finance the construction of Bodorna HPP, which is expected to become fully operational from September 2018.

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BGEO Group’s real estate subsidiary signs its largest ever franchise agreement

BGEO Group’s real estate subsidiary signs its largest ever franchise agreement

BGEO Group PLC (the “Group” or “BGEO”), announces that the Group’s real estate subsidiary, m2 Real Estate (“m2” or “the Company”), has signed its largest ever franchise agreement as part of its “asset light” strategy. m2 will construct and develop a residential complex under the m2 brand name on a third-party land plot located on Tbilisi airport highway in a densely populated Tbilisi suburb. Under the agreement, m2 plans to develop a land plot of 99,000 square metres into 3,600 residential units with a total net sellable area of 190,000 square metres. The residential complex development will be carried out in ten phases over the course of four to five years and m2 will generate the following fees: 10% from total construction costs, 2.5% sales commissions from apartment sale revenues and 30% from the project’s overall net profit.

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BGEO hosts Investor Day in Tbilisi

BGEO hosts Investor Day in Tbilisi

BGEO Group PLC (“BGEO” or the “Group”) announces that the Group is hosting an Investor Day for analysts and investors in Tbilisi on Thursday 9 November 2017.

As part of the investor presentations BGEO will update investors on its strategic goals and priorities as summarised below:


Within the banking business
:

  • Over the next few years, Bank of Georgia (the “Bank”) will continue its successful client centric, multi-brand strategy with the product per client ratio in the mass retail bank targeted to increase to 3.0 products, from a current 1.8  products
  • The Bank will continue to strengthen its market leading digital offering, and introduce data mining solutions within the Retail Bank
  • In the ExpressBankingsegment,theBankwillaimtodoublethenumberoftransactionsoverthe next2-3 years
  • InSoloBanking,theBankwilltarget toincreasethe numberofSoloclientsto40,000(currently 28,492)
  • The bank will aim to develop a significant regional private banking franchise
  • In addition, over the medium-to-longterm:

       - The Bank will aim to maintain its return on average equity in excess of 20% per annum

       - The net interest margin is expected to be in excess of 7.0% (currently 7.3%)

       - The Bank aims to manage to a cost/income ratio of around 35% (currently 38%)

       - The Bank will continue to enhance its already prudent risk management practice, and will aim to maintain its Non-Performing Loans coverage ratio in the range of 80-120% (currently 93.6%)

       - Through the long-term economic cycle, the Bank's cost of risk ratio is expected to remain at c.2.0% per annum

  • The Bank will aim to maintain a dividend payout in the range of 25%-40% of earnings


Within the Investment Businesses:

  • The Investment Business is a Georgia focused diversified investment company targeting a minimum IRR of 25%.  The business has a highly disciplined approach to unlocking value through opportunistic investments – acquiring early stage, developing businesses or establishing greenfield businesses, whilst establishing clear exit paths through IPO or trade sale over a 5-10 year period
  • The investment business currently manages a portfolio of the following 5 investments in Georgian businesses:


Georgia Healthcare Group (GHG) (57% stake)

The strategy of GHG is to:

       - Target 30%+ market share in Hospitals (currently 24%)

       - Target c.15%+ market share in Polyclinics (currently 2%)

       - Maintain the largest market share as a pharmaceuticals retailer and wholesaler in Georgia (currently 29%)

       - Exceed 30% market share in health insurance (currently 30%)


Georgia Global Utilities (GGU) (100% stake)

GGU is targeting to reach combined utility and energy EBITDA in excess of GEL 100 million in 2019. Within its segments, GGU’s strategy is as follows:


Utility business

       - Substantially reduce water losses -  currently 70% technical and commercial losses

       - Invest GEL 215 million in infrastructure rehabilitation projects


Energy Strategy

       - Construction of Hydro, Wind and Solar generation plants


Real Estate business (m2) (100% stake).

The strategy of m2 Real Estate is to focus on the asset light strategy as described below, while also entering hotel development business:

       - Unlock land value by developing housing projects

       - Developing third party land – franchise m2 brand name

       - Grow yielding asset portfolio through developing hotels

       - Generate fee income from third party construction projects


P&C Insurance business (Aldagi) (100% stake).

Aldagi is aiming to grow its net income to GEL 50 million in 5 years


Beverage business (Teliani) (72% stake). 

  • The strategy of  Teliani Valley is to:

       - Grow in line with wine market by stimulating exports, currently 35% market share, while exporting wine to at least 13 countries

       - Enhance distribution product portfolio and become the leading FMCG distributor in Georgia

       - Achieve 30% market share in beer sales in Georgia

       - Export beer and lemonade products launched in 2017

 

A full set of the presentation slides can be viewed on the BGEO website at www.BGEO.com/presentations

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BGEO Group PLC 3Q17 and 9M17 Results Presentation

BGEO Group PLC 3Q17 and 9M17 Results Presentation

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BGEO Group PLC 3Q17 and 9M17 Results

BGEO Group PLC 3Q17 and 9M17 Results

BGEO Group PLC ("BGEO" or the "Group") has published today its financial results for the third quarter and the first nine months of 2017. The results announcement is available on the Group's website at www.bgeo.com. The results discussion will take place on Thursday, 9 November 2017, during the Investor Day held by BGEO Group in Tbilisi at the following address: Courtyard Marriott (4 Freedom Square, Tbilisi 0105, Georgia. Tel: +995 322 779 100).

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BGEO Group Notice of 3Q17 and 9M17 Results Announcement

BGEO Group Notice of 3Q17 and 9M17 Results Announcement

BGEO Group PLC ("BGEO" or the "Group") will publish its financial results for the third quarter and the first nine months of 2017 at 17:00 London time on Wednesday, 8 November 2017. The results announcement will be available on the Group's website at www.bgeo.com. The results discussion will take place on Thursday, 9 November 2017, during the Investor Day held by BGEO Group in Tbilisi at the following address: Courtyard Marriott (4 Freedom Square, Tbilisi 0105, Georgia. Tel: +995 322 779 100).

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BGEO Group Investor Day Notice

BGEO Group Investor Day Notice

BGEO Group will hold its annual Investor Day in Tbilisi on 9 November 2017 

You are cordially invited to the BGEO Group PLC’s (the “Group” or “BGEO”) Investor Day, which will take place in Tbilisi on Thursday, 9 November 2017. This event, held for analysts and investors, will be hosted by members of the BGEO board and executive management team. Registration link for BGEO: http://bgeo.com/investorday/. 

Additionally, Georgia Healthcare Group (“GHG”), the healthcare subsidiary of BGEO, will hold its annual Investor Day in Tbilisi, on Friday, 10 November 2017. BGEO investors and analysts are welcome to attend this event. You can register through the registration link for GHG:http://ghg.com.ge/investorday/. Further details on the GHG Investor Day, including the agenda and registration details have been separately announced by GHG and are available on its web-site: http://ghg.com.ge/news.

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BGEO Group announces changes to its Management Team

BGEO Group announces changes to its Management Team

BGEO Group PLC (the “Group” or “BGEO”), announces changes and appointments to the Group’s and JSC Bank of Georgia’s (the “Bank”) management teams. The new appointments have been made in the light of the Group’s proposed demerger announced on 3 July 2017, in preparation for which BGEO is separating the Group’s and the Bank’s Chief Financial Officer (“CFO”) functions and repositioning the Bank’s management team: 

  • Giorgi Alpaidze will assume the role of Group CFO with immediate effect and become the investment 
    business CFO following completion of the Group’s proposed demerger 
  • David Tsiklauri has been appointed Chief Financial Officer of the Bank 
  • Levan Kulijanishvili has been appointed Deputy CEO, Operations of the Bank 
  • Vasil Khodeli has been appointed Deputy CEO, Corporate Investment Banking of the Bank 


Giorgi Alpaidze, currently Head of the Group’s Finance, Funding and Investor Relations, has extensive international experience in banking, accounting and finance. He joined the Group in August 2016 from Ernst & Young LLP’s (“EY”) Greater New York City’s assurance practice, where he was a senior manager serving EY’s financial services clients. Giorgi started his career at EY Georgia in 2005 and moved to EY’s United States practice in 2010. Giorgi is a U.S. Certified Public Accountant and received his undergraduate degree in Business Administration from the European School of Management in Georgia. 

David Tsiklauri, currently Deputy CEO, Corporate Investment Banking of the Bank, has extensive experience in banking and joined the Bank in February 2017. Prior to joining the Bank, David served as  Deputy CEO in charge of Corporate Banking at TBC Bank, a position he held since 2014. Before TBC Bank, he served as Vice President in the Capital Markets and Treasury Solutions team at Deutsche Bank since 2011, where he started as an associate in the Debt Capital Markets Department in 2008. David has an MBA degree from London Business School. 

Levan Kulijanishvili will assume a new role as Deputy CEO, Operations of the Bank in order to focus on further improvements and efficiencies in the Bank’s operations. Levan joined the Bank in 1997 and served as Group CFO and Deputy CEO, Finance of the Bank, prior to this appointment. During his 20 years of service with the Group, Levan has held various senior management positions, including Head of Compliance and Internal Control (2009 to 2015), Head of the Internal Audit department (2000 to 2009), Manager of the Financial Monitoring, Strategy and Planning department (1999 to 2000) and Head of the Financial Analysis division (1997-1999). Levan holds an MBA degree from Grenoble Graduate School of Business. 

Vasil Khodeli, currently Head of Corporate Banking of the Bank, will succeed David Tsiklauri as Deputy CEO, Corporate Investment Banking. Vasil has more than 20 years of banking experience and has held various roles with the Bank since 2004. He has been actively involved in shaping the Bank’s Corporate Banking business platform since its launch. Vasil holds an MBA degree from Grenoble Business School. 

The changes to the Bank’s management team remain subject to regulatory approval.

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BGEO Group announces Bank of Georgia's rating upgrade by Moody's

BGEO Group announces Bank of Georgia's rating upgrade by Moody's

BGEO Group PLC (the “Group” or “BGEO”), announces that on 13 September 2017 credit rating agency Moody’s upgraded JSC Bank of Georgia’s (“The Bank”) local-currency deposit rating to Ba2 from Ba3, and the Bank’s foreign-currency deposit rating to Ba3 from B1. The Bank’s senior unsecured foreign-currency rating was also upgraded to Ba2 from Ba3 with a stable outlook. JSC BGEO’s ratings were not affected. The Bank’s credit rating action follows the upgrade of Georgia’s sovereign local and foreign currency issuer ratings to Ba2 from Ba3 on 11 September 2017.

“Georgia’s economy has a strong track record of resilience to the various shocks the region has experienced over the last ten years. Prudent macroeconomic reforms and regulatory banking supervision have allowed both the country’s GDP to steadily grow during this period, and the banking sector to remain profitable, well-capitalised and healthy. I am pleased to see Moody’s upgrade of the Georgia’s long-term sovereign ratings, together with the credit ratings of the Bank, in light of these achievements and I believe that Bank of Georgia is very well positioned to further capitalise on Georgia’s promising macroeconomic outlook”, commented Kaha Kiknavelidze, CEO of Bank of Georgia.

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Bank of Georgia raises US$75 million Trade Finance Club Facility

Bank of Georgia raises US$75 million Trade Finance Club Facility

BGEO Group PLC (the “Group” or “BGEO”), announces that JSC Bank of Georgia (“the Bank”) has signed a one-year US$75 million Club Trade Finance Facility (“the Facility”) arranged by Citi in collaboration with the Bank’s long-term partner international financial institutions – Asian Development Bank (“ADB”) and International Finance Corporation (“IFC”) - a member of the World Bank Group. The Facility is the fourth successful syndication arranged by Citi for JSC Bank of Georgia and supports Bank of Georgia’s commitment to remaining the leading provider of trade finance solutions for the Georgian corporate and small and medium sized (SME) sectors.

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BGEO Group will hold investor day in Tbilisi on 9 November 2017

BGEO Group will hold investor day in Tbilisi on 9 November 2017

You are cordially invited to the BGEO Group PLC’s (the “Group” or “BGEO”) Investor Day, which will take place in Tbilisi on 9 November 2017. This event, held for analysts and investors, will be hosted by the members of BGEO board and management team.

A detailed agenda and registration details will be provided in the near future. Please make sure to save the date in your calendar.
Additionally, Georgia Healthcare Group (“GHG”), healthcare subsidiary of BGEO, will hold its Investor Day in Tbilisi, Georgia on 10 November 2017. BGEO investors and analysts are welcome to attend this event, hosted by the members of GHG board and management team. Further details on GHG Investor Day, including agenda and registration details will be announced by GHG and will be available on its web-site: http://ghg.com.ge/news.

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BGEO Group PLC 2Q17 and 1H17 Results Presentation

BGEO Group PLC 2Q17 and 1H17 Results Presentation

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BGEO Group PLC 2Q17 and 1H17 Results

BGEO Group PLC 2Q17 and 1H17 Results

BGEO Group PLC ("BGEO" or the "Group") has published today its financial results for the 2nd quarter 2017 and the first half of 2017. The results announcement is available on the Group's website at www.bgeo.com. An investor/analyst conference call, organized by BGEO, will be held today at 14:00 UK / 15:00 CET / 09:00 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

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BGEO Group Notice of 2Q and 1H17 Results Announcement

BGEO Group Notice of 2Q and 1H17 Results Announcement

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JSC Bank of Georgia wins the exclusive right to upgrade the public transportation payment system in Tbilisi

JSC Bank of Georgia wins the exclusive right to upgrade the public transportation payment system in Tbilisi

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BGEO Group PLC - Proposed Demerger

BGEO Group PLC - Proposed Demerger

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BGEO announces a new appointment to its Board of Directors

BGEO announces a new appointment to its Board of Directors

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BGEO Group PLC Result of AGM

BGEO Group PLC Result of AGM

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JSC Bank of Georgia debt issuance - GEL 500 million 11.00% Notes due 2020

JSC Bank of Georgia debt issuance - GEL 500 million 11.00% Notes due 2020

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Completion of placing of existing ordinary shares in GHG

Completion of placing of existing ordinary shares in GHG

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BGEO announces proposed placing of shares in GHG

BGEO announces proposed placing of shares in GHG

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BGEO Group PLC 1Q17 Results Presentation

BGEO Group PLC 1Q17 Results Presentation

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BGEO Group PLC 1Q17 Results

BGEO Group PLC 1Q17 Results

BGEO Group PLC ("BGEO" or the "Group") published its financial results for the 1st quarter 2017 at 07:00 London time on Wednesday, 10 May 2017. The results announcement is available on the Group's website at www.bgeo.com. An investor/analyst conference call, organized by BGEO, will be held on, 10 May 2017, at 14:00 UK / 15:00 CET / 09:00 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

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BGEO Group Notice of 1Q 2017 Results Announcement

BGEO Group Notice of 1Q 2017 Results Announcement

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BGEO Group Notice of Annual General Meeting

BGEO Group Notice of Annual General Meeting

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BGEO Group PLC announces publishing of its Annual Report 2016

BGEO Group PLC announces publishing of its Annual Report 2016

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BGEO Group announces a sale of shares in GHG

BGEO Group announces a sale of shares in GHG

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BGEO Group announces Transaction in Own Shares

BGEO Group announces Transaction in Own Shares

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BGEO Commences Share Buyback and Cancellation Programme

BGEO Commences Share Buyback and Cancellation Programme

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BGEO Group PLC 4Q16 and FY16 Results Presentation

BGEO Group PLC 4Q16 and FY16 Results Presentation

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BGEO Group PLC 4Q16 and FY16 Results

BGEO Group PLC 4Q16 and FY16 Results

BGEO Group PLC ("BGEO" or the "Group") will publish its financial results for the 4th quarter and full year 2016 at 07:00 London time on Monday, 20 February 2017. The results announcement will be available on BGEO Group's website at www.bgeo.com. An investor/analyst conference call, organised by BGEO Group, will be held on, 20 February 2017, at 14:00 UK / 15:00 CET / 09:00 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

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BGEO 4Q16 and FY2016 Results Announcement Notice

BGEO 4Q16 and FY2016 Results Announcement Notice

BGEO Group PLC ("BGEO" or the "Group") will publish its financial results for the 4th quarter and twelve months ended 31 December 2016 at 07:00 London time on Monday, 20 February 2017. The results announcement will be available on BGEO Group's website at www.bgeo.com. An investor/analyst conference call, organized by BGEO Group, will be held on, 20 February 2017, at 14:00 UK / 15:00 CET / 09:00 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

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BGEO Group’s real estate subsidiary issues US$ 25 million bonds locally

BGEO Group’s real estate subsidiary issues US$ 25 million bonds locally

BGEO Group PLC (the “Group” or “BGEO”), announces that the Group’s wholly owned real estate subsidiary m2 Real Estate (“m2”) has successfully placed US$ 25 million bonds into the local market. The bonds were issued at par with a 3-year tenor and an annual coupon rate of 7.5%, payable semiannually. The Group’s investment banking and brokerage subsidiary, Galt & Taggart, acted as a placement agent. The proceeds are to be used for refinancing m2’s existing bonds and financing planned real estate development projects.

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JSC Bank of Georgia purchases a micro and small business loan portfolio from JSC ProCredit Bank

JSC Bank of Georgia purchases a micro and small business loan portfolio from JSC ProCredit Bank

BGEO Group PLC (the “Group” or “BGEO”), a Georgia focused investment platform, announces that its banking subsidiary, JSC Bank of Georgia (the “Bank” or “BOG”) has agreed to acquire, for cash, a micro and small business portfolio from JSC ProCredit Bank Georgia (“ProCredit Bank”) – currently the third largest bank in Georgia by total assets and market share of gross loans. The transaction will add c.2,400 micro and small business clients and a net value of c.GEL 120 million loans to the BOG’s retail banking loan portfolio. This transaction, which largely reflects individual loans of less than US$ 100,000 value, further strengthens BOG’s position in the small business and micro segments. The transaction directly serves the Bank’s strategic target to enhance its retail business by growing the micro, small and medium sized enterprise loan portfolios within the next three years.

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BGEO Group’s utility subsidiary issues GEL 30mln local currency bonds

BGEO Group’s utility subsidiary issues GEL 30mln local currency bonds

BGEO Group PLC (the “Group” or “BGEO”), announces that the Group’s wholly owned utility and energy subsidiary, Georgia Global Utilities (“GGU”) has successfully placed a GEL30 million local currency bond for its’ water utility business unit, Georgian Water and Power LLC (“GWP”). The placement is the largest amount ever issued in local currency by a non-financial institution in Georgia. The bonds were issued with a 5 year tenor, with an annual coupon rate of National Bank of Georgia local currency refinancing rate plus 3.5%. The Group’s investment banking arm Galt & Taggart acted as a joint placement agent.

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JSC Bank of Georgia issues a GEL 21 million 2-year global note settled in US$

JSC Bank of Georgia issues a GEL 21 million 2-year global note settled in US$

BGEO Group PLC (the “Group” or “BGEO”), a Georgia focused investment platform, announces that its banking subsidiary, JSC Bank of Georgia (the “Bank” or “BOG”), has issued a 2-year local currency linked internationally clearable global note in the amount of GEL 21.0 million settled in US$. The note has been issued through a private placement at par, pays an 8.0% coupon annually and matures on 5 December 2018.

The issuance of this GEL-linked global note is the first such transaction done in the country. It enables the Bank to further diversify its sources of funding. Furthermore, it provides overseas investors increased access to local currency notes issued by the private sector. The issuance of this note builds on the Bank’s previous local currency linked bond transactions, and serves BOG’s purpose to attract increasingly more local currency funds.

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BGEO hosts Investor Day in Tbilisi

BGEO hosts Investor Day in Tbilisi

BGEO Group PLC (“BGEO” or the “Group”) announces that the Group is today hosting an Investor Day for analysts and investors in Tbilisi.
As part of the presentation the Group will update investors on its medium term strategic goals which are summarised below:

  • The Group will continue to focus on capturing growth opportunities in the rapidly growing Georgian economy
  • Our '4x20' strategy will continue to be targeted over the medium term to deliver: 


- A return on average equity in the Banking Business of at least 20%
- Retail Banking customer lending growth of at least 20% per annum
- A minimum targeted Internal Rate of Return of 20% on investments in the Group’s investment businesses, and
- A maximum 20% profit contribution, of the Group’s profits, from our investment businesses

  • The Group will continue to aim to maintain a regular dividend payout ratio from the Banking Business profits in the 25%-40% range
  • In addition, with a view to divestments we are planning, our objective is to make at least 3 special capital returns by the end of 2019, with a total value of at least 50% of the regular dividends from the banking business. These capital returns could take the form of either special dividends, share buybacks and/or stock dividends
  • As part of this commitment, the Board has approved a $50 million share buyback and cancellation programme over a two year period. In addition, the Group will instruct the administrators of the Group Employee Benefits Trust to purchase shares in the market totaling approximately US$20 million 


Within the banking business:



  • Over the next 1-2 years, Bank of Georgia aims to shift the mix of its customer lending to become 65% retail and 35% corporate (currently 60% retail; 40% corporate) with the product per client ratio in the retail bank targeted to increase to 3.0 products, from a current 2.0 products
  •  In the Express Banking segment, the Bank will aim to double the number of transactions over the next 2-3 years
  • In Solo Banking, the Bank will aim to increase the number of Solo clients to 40,000 (currently 16,964)
  • The Bank will continue to reduce concentration risk in the corporate lending portfolio, with the support of the Investment Management business, to target the top ten borrowers to represent less than 10% of the total loan portfolio (currently 11.9%)
  •  The bank will aim to develop a significant regional private banking franchise to reach AUM of GEL 2.5 billion (currently GEL 1.4 billion)
  • In addition, over the medium-to-long term: 


- The net interest margin is expected to be in the 7.25% - 7.75% range (currently 7.4%)
- The Bank aims to manage to a cost/income ratio of around 35% (currently 38%)
- The Bank will continue to enhance its already prudent risk management practice, and will aim to maintain its Non-Performing Loans coverage ratio in the range of 80-120% through the economic cycle (currently 86.5%) – with a normalised 100% ratio. Through the long-term economic cycle, the Bank's cost of risk ratio is expected to be c.2.0% per annum

Within the Investment Businesses:



  • In the healthcare business, Georgia Healthcare Group (“GHG”), we expect to:

- At least double 2015 hospital and ambulatory revenues in 2018, with an EBITDA margin of 30% 

- Launch two hospitals with a total of c.650 hospital beds in 2017, and achieve a market share of hospital revenue in excess of 30% in the medium-to-long term
- Roll-out a network of ambulatory clinics to achieve a 5% market share of revenues in 2018, and a 15% market share of revenues in the medium-to-long term
- In the pharma business, complete the planned integration of GPC and ABC business, and achieve 30% market share in 2018. In addition, increase the EBITDA margin to 8.0%+
- Achieve more cross-selling from pharmacies to ambulatory clinics by leveraging c.2 million pharma customer interactions per month
- In the Medical Insurance business, reduce the combined ratio to less than 97% over the next few years
- Increase the amount of claims retained within GHG by increasing the number of patients referred to the ambulatory clinics and pharmacies

  • In m2 Real Estate to target an internal rate of return of c.40%+, whilst delivering a capital return to the Group of US$ 20-25 million in 2019
  • In the utility and energy business, GGU, to achieve EBITDA of more than GEL 80 million in 2018, whilst establishing a renewable energy platform, targeting 200MW operating and 100-100MW ready-to-build and pipeline for hydro power plants, and 20-20MW ready-to-build wind farms and solar photo-voltaic stations by 2019, with an IRR in excess of 20%. We are aiming to prepare the combined utility and renewable energy business for an IPO in approximately 2-3 years 


A full set of the presentation slides can be viewed on the BGEO website at www.BGEO.com

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BGEO Group PLC 3Q16 and 9M16 Results

BGEO Group PLC 3Q16 and 9M16 Results

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BGEO announces further strengthening of management

BGEO announces further strengthening of management

BGEO Group PLC (the “Group” or “BGEO”), announces a key Group management appointment and key management appointments and a refreshed business unit structure at JSC Bank of Georgia (“BoG” or the “Bank”).

  • Archil Gachechiladze will be appointed CEO of Georgia Global Utilities (“GGU”), the utilities and energy business of the Group
  • David Tsiklauri will be appointed to the position of Deputy CEO at the Bank, and will lead the Bank’s Corporate Investment Banking Department (“CIB”), replacing Archil.
  • Given the further growth opportunities in our Retail Banking and the Bank’s strategy to significantly grow the business with a target of making Retail Banking at least 65% of the Bank’s loan book, the Bank is splitting the Retail Banking business into two separate directions, to be managed by two Deputy CEOs of the Bank.
  • Mikheil Gomarteli, Deputy CEO at the Bank, will continue to lead the Express Bank operations (emerging retail segment) and Bank of Georgia brand operations (mass retail segment).
  • Ramaz Kukuladze will be appointed Deputy CEO at the Bank, and will lead the Bank’s Small and Medium banking business (“SME”) and premium retail banking business (“Solo”)

Irakli Gilauri, Group CEO commented: “I am delighted to announce these appointments that will further strengthen management throughout the Group, following Kaha Kiknavelidze’s appointment as the Bank’s CEO in September.
As we start to prepare GGU for an IPO, we are further strengthening the GGU team and appointing Archil as the CEO of GGU. Archil has an outstanding execution track record with the Bank and, just as importantly, he is very passionate about the business of GGU. Archil initiated our investment in the utility and energy business, when he was the Group CFO. We are also consolidating the Group’s utilities and energy businesses under GGU. The current management of the utility business will stay unchanged. I would like to congratulate Archil on this promotion and I very much look forward to working closely with him to deliver another successful IPO in two-three years time.

David has extensive experience in the financial services industry. Ramaz has a breadth of experiences and a deep knowledge of the segments that he is going to lead. Mikheil has nearly 20 years of successful leadership track record within the Bank. The three will make an outstanding team that will lead the Bank’s three main sources of business. Additionally, Kaha will personally oversee the Bank’s wealth management operations, which were under CIB department previously. I am confident that the new executive team will deliver on the opportunity to build on the Bank’s recent strong growth by further developing its presence and profitability in both the retail and corporate banking sectors in Georgia.”

Archil Gachechiladze is a long-time professional within the Group, and has held various key senior positions since he joined in 2009. Prior to this appointment, Archil was the Deputy CEO at the Bank, in charge of CIB since February 2016, prior to which he served as Group CFO and Deputy CEO in charge of Investment Management. He joined the Group in October 2009 as Deputy CEO Corporate Banking. Prior to joining Bank of Georgia, Archil served as deputy director in charge of corporate recovery at TBC Bank, Georgia, a position he took up in August 2008. From 2006 to 2008, he was an associate at Lehman Brothers Private Equity (currently Trilantic Capital Partners) in London. From 1998 to 2004, he served as a senior associate at Salford Equity Partners, senior analyst at EBRD in Tbilisi and London, senior financial analyst at KPMG Barents in

Tbilisi and team leader for the World Bank’s CERMA Project in Tbilisi. Archil has an MBA with distinction from Cornell University. He is also a CFA charterholder.

David Tsiklauri has extensive experience in banking and as well as the corporate segment in Georgia, having worked as the Deputy CEO in charge of Corporate Banking at TBC Bank since 2014. Prior to that he served as the Vice President of the Capital Markets and Treasury Solutions team at Deutsche Bank since 2011, where he started as an associate in the Debt Capital Markets Department in 2008. David has an MBA degree from London Business School.

Ramaz Kukuladze rejoins the Group, having worked as deputy CEO of the Bank prior to leaving for Silknet (telecommunications company in Georgia) where he spent two years in the capacity of Deputy CEO, in charge of commercial business. Later, Ramaz joined Bank Republic Société Générale where he led the bank’s corporate and retail business as Deputy CEO since 2011. While at Bank of Georgia, Ramaz was responsible for Corporate Banking. Prior to that, he served as Chief Executive Officer of BCI, an Insurance Company founded by him in 1998, which later was acquired by the Group. Ramaz has an executive MBA degree from IE Business School

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BGEO Group PLC notice of 3Q and 9M 2016 results

BGEO Group PLC notice of 3Q and 9M 2016 results

BGEO Group PLC (“BGEO” or the “Group”) will publish its financial results for 3rd quarter and nine-months 2016 at 17:00 London time on Monday, 21 November 2016. The results announcement will be available on BGEO Group’s website at www.bgeo.com. The results discussion will take place on Tuesday, 22 November 2016, during the Investor Day held by BGEO Group in Tbilisi at the following address: Tbilisi Marriott (13 Shota Rustaveli Avenue, Tbilisi, 0108, Georgia. Tel: +995 322 779 200).

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BGEO Group Investor Day Notice

BGEO Group Investor Day Notice

BGEO will hold Investor Day on 22 November in Tbilisi
You are cordially invited to the BGEO Group PLC’s (the "Group" or “BGEO”) Investor Day to be held on Tuesday, 22 November 2016 in Tbilisi, Georgia. This event, held for analysts and investors, will be hosted by the members of BGEO board and management team. Registration link for BGEO: http://bgeo.com/investorday/.


Additionally, Georgia Healthcare Group (“GHG”), healthcare subsidiary of BGEO, will hold its Investor Day on 23 November 2016 in Tbilisi, Georgia. BGEO investors and analysts are welcome to attend this event. You can register through registration link for GHG: http://ghg.com.ge/investorday/. Further details on GHG Investor Day, including agenda can be found on its web-site: http://ghg.com.ge.

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BGEO announces the appointment of a new CEO of JSC Bank of Georgia and related Board change

BGEO announces the appointment of a new CEO of JSC Bank of Georgia and related Board change

BGEO announces the appointment of a new CEO of JSC Bank of Georgia and related Board change

BGEO Group PLC (the “Group” or “BGEO”), the holding company of JSC Bank of Georgia (the “Bank”), announces the appointment of Kakhaber (Kaha) Kiknavelidze as Chief Executive Officer of JSC Bank of Georgia, with immediate effect. Kaha replaces Murtaz Kikoria, who is leaving the Bank to pursue a career outside the banking sector. Kaha will report to Irakli Gilauri, Chief Executive Officer of BGEO Group PLC.

Kaha has many years of experience working with BGEO and the Bank. Prior to this appointment as CEO of the Bank, Kaha served as a member of BGEO’s Board of Directors since October 2011, which included positions on BGEO’s Audit, Risk and Nomination Committees. He also served as a member of the Bank’s Supervisory Board and Audit Committee since 2008, and has taken a very active role over the last few years in mentoring many of the current members of the Bank’s management team. Kaha has resigned from his positions as a Director of BGEO Group PLC and Supervisory Board member of JSC Bank of Georgia, also with immediate effect.

Kaha began his career at the Bank in 1994 as a Finance Manager, before gaining over 15 years of experience in the financial services in a number of roles at UBS and Troika Dialog. He is the founder and Managing Partner of Rioni Capital Partners LLP, a London-based investment management company, the role he will be stepping down from by the end of 2016.

“I would like to thank Murtaz for his substantial contributions in various roles in the development of the Group since he joined us in 2008, including serving as CEO of our Healthcare business from 2012 to 2014 and more recently as CEO of Bank of Georgia. I wish him all the best in his future endeavours.  

I would like to congratulate Kaha on his new appointment. He joins executive management at an exciting time when the Bank has a significant opportunity to build on its recent strong growth by further developing the Bank’s presence and profitability in both the retail and corporate banking sectors in Georgia. I have known Kaha for many years and I very much look forward to working closely with him in his new capacity,” commented Irakli Gilauri, Group CEO.

“I am delighted to join the Bank in an executive capacity. I regard the Group as one of the best managed organisations in the region and am excited to join the management team in order to drive the Bank forward in the next stage of its development. Both BGEO and the Bank and Georgia itself have significant opportunities ahead and I look forward to continue working with the BGEO Board of Directors and Bank management and staff to ensure we take advantage of those opportunities and deliver on all of our key strategic priorities,” commented Kaha Kiknavelidze.

 

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BGEO Group PLC 2Q16 and 1H16 Results

BGEO Group PLC 2Q16 and 1H16 Results

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BGEO Group PLC notice of 2Q and 1H 2016 Results

BGEO Group PLC notice of 2Q and 1H 2016 Results

BGEO Group PLC (“BGEO” or the “Group”) will publish its financial results for 2nd quarter and half-year 2016 at 07:00 London time on Tuesday, 16 August 2016. The results announcement will be available on BGEO Group’s website at www.bgeo.com. An investor/analyst conference call, organized by BGEO Group, will be held on, 16 August 2016, at 14:00 UK / 15:00 CET / 09:00 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

 

 Dial-in numbers:

Pass code for replays / Conference ID: 62522925       

30-Day replay:

Pass code for replays / Conference ID: 62522925

International Dial in: +44 (0) 1452 555566

International Dial in: +44 (0)1452550000

UK: 08444933800

UK National Dial In: 08717000145

US: 16315107498

UK Local Dial In: 08443386600

Austria: 019286568

USA Free Call Dial In: 1866 247 4222

Belgium: 081700061

Czech Republic: 228880460

Denmark: 32727625

Finland: 0923195187

France: 0176742428

Germany: 06922224918

Hungary: 0618088303

Ireland: 014319648

Italy: 0236008146

Luxembourg: 20880695

Netherlands: 0207176886

Norway: 21563013

Spain: 914143669

Sweden: 0850336434

Switzerland: 0565800007

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BGEO Group will hold Investor Day in Tbilisi on 22 November 2016

BGEO Group will hold Investor Day in Tbilisi on 22 November 2016

You are cordially invited to the BGEO Group PLC’s (the “Group” or “BGEO”) Investor Day, which will take place in Tbilisi on 22 November 2016. This event, held for analysts and investors, will be hosted by the members of BGEO board and management team.

A detailed agenda and registration details will be provided in the near future. Please make sure to save the date in your calendar.

Additionally, Georgia Healthcare Group (“GHG”), healthcare subsidiary of BGEO, will hold its Investor Day in Tbilisi, Georgia on 23 November 2016. BGEO investors and analysts are welcome to attend this event, hosted by the members of GHG board and management team. Further details on GHG Investor Day, including agenda and registration details will be announced by GHG and will be available on its web-site: http://ghg.com.ge/news.

We look forward to seeing you in Tbilisi!

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Bank of Georgia signs GEL 60 million 5-year loan agreement with BSTDB

Bank of Georgia signs GEL 60 million 5-year loan agreement with BSTDB

BGEO Group PLC (“BGEO” or the “Group”), the holding company of JSC Bank of Georgia (the “Bank” or “BOG”), Georgia’s leading bank, announces that BOG continues to attract longer term local currency funding as the Bank and Black Sea Trade and Development Bank (“BSTDB”) have signed a GEL 60 million loan agreement, with a 5-year maturity. This long-term local currency loan facility will be used to finance investments and the working capital needs of local businesses in rural and urban areas of Georgia. It will further support the development of Georgian SMEs without creating foreign exchange risk. This longer-term local currency loan facility reinforces BOG’s commitment to support small and medium-size enterprises in Georgia and underpins its leading position in the SME sector. BSTDB obtained the local currency funds through a private placement of GEL-denominated bonds arranged by Galt & Taggart (“G&T”), a wholly owned subsidiary of BGEO.

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JSC BGEO Group debt issuance - US$350mln 6.00% Notes due 2023

JSC BGEO Group debt issuance - US$350mln 6.00% Notes due 2023

BGEO Group PLC, the holding company of JSC BGEO Group (the Company), announces that the Company has completed the issuance of its US$350,000,000 6.00% notes due 2023 (the New Notes). The Regulation S / Rule 144A senior unsecured Notes were issued and sold at an issue price of 99.297% of their principal amount on 26 July 2016. BofA Merrill Lynch and J.P. Morgan acted as Joint Lead Managers for the New Notes, with Galt & Taggart acting as Co-Manager. Dechert LLP and Baker & McKenzie LLP acted as legal advisors to the Joint Lead Managers and the Company, respectively. The New Notes are rated BB- (Fitch) and B1 (Moody's). The New Notes are listed on the Irish Stock Exchange.

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BGEO announces the completion of its recently announced acquisition of the remaining 75% stake in its utilities business

BGEO announces the completion of its recently announced acquisition of the remaining 75% stake in its utilities business

BGEO Group PLC (“BGEO”) announces that JSC BGEO Investments, a wholly owned subsidiary of BGEO, has completed the recently announced acquisition of the remaining 75% equity stake in Georgian Global Utilities Limited (“GGU”). As a result of this buy-out, BGEO owns 100% of GGU.

The BGEO announcement about the purchase of the remaining 75% stake in GGU from 23 June 2016 is available at the following link:
http://bgeo.com/uploads/news/bgeo-announces-the-buyout-of-the-remaining-75-stake-at-its-utilities-business-ggu-58.pdf

BGEO announces the completion of its recently announced acquisition of the remaining 75% stake in its utilities business

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Dividend Currency Conversion Rate

Dividend Currency Conversion Rate

On 26 May 2016, the shareholders of BGEO Group PLC (the “Company”) (LSE: BGEO LN), the holding company of JSC Bank of Georgia, Georgia's leading bank, approved the declaration of a final dividend of Georgian Lari 2.4 per share in respect of the year ended 31 December 2015, payable to ordinary shareholders of the Company in British Pounds Sterling pursuant to the following timetable:

Ex-Dividend Date: 7 July 2016
Record Date: 8 July 2016
Currency Conversion Date: 11 July 2016
Payment Date: 22 July 2016

The Company hereby confirms that the National Bank of Georgia Georgian Lari/British Pounds Sterling exchange rate as of 11 July 2016 is 3.0376 and shall be used to pay dividends to ordinary shareholders of the Company on 22 July 2016.

Those shareholders who have not provided their appropriate bank account details to Computershare Investor Services PLC for payment of the dividend will be paid the dividend by cheque in British Pounds Sterling.

Name of authorised official of issuer responsible for making notification:


Kate Bennett Rea, Company Secretary

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BGEO announces the buy-out of the remaining 75% stake at its utilities business GGU

BGEO announces the buy-out of the remaining 75% stake at its utilities business GGU

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Bank of Georgia signs c. GEL 220 million 5-year loan agreement with EBRD

Bank of Georgia signs c. GEL 220 million 5-year loan agreement with EBRD

BGEO Group PLC (“BGEO” or the “Group”), the holding company of JSC Bank of Georgia (“BOG” or the “Bank”), Georgia’s leading bank, announces that the Bank and the European Bank for Reconstruction and Development (“EBRD”) have signed a c.GEL 220 million loan agreement, with a maturity of five-years. EBRD obtained the local currency funds through a private placement of GEL-denominated bonds arranged by Galt&Taggart, a wholly owned subsidiary of BGEO.

This is the largest and the longest maturity local currency loan granted to a Georgian bank. The loan will enable BOG to issue longer-term local currency loans, providing essential support for micro, small and medium sized enterprises to converge to DCFTA requirements, as well as underserved women entrepreneurs.

“I want to congratulate EBRD, BOG and Galt & Taggart with the successful closure of this landmark transaction. The transaction reflects our longstanding co-operation with EBRD and is of a great importance not only for Bank of Georgia but for the entire financial sector in the country as it enables BOG to provide long term loans in local currency, meeting existing strong demand for such funding. Bank of Georgia is committed to further extending its financing to small and medium size businesses. Furthermore, we are keen to develop financial products and lending practices, to service specifically women-led SMEs, which will ultimately increase their involvement in developing Georgia’s private sector”, said Irakli Gilauri, CEO of BGEO Group PLC.

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BGEO Group PLC Results of AGM

BGEO Group PLC Results of AGM

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BGEO Group PLC 1Q16 Results

BGEO Group PLC 1Q16 Results

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BGEO Group PLC notice of 1Q 2016 results

BGEO Group PLC notice of 1Q 2016 results

BGEO Group PLC will publish its financial results for 1Q 2016 at 07:00 London time on Tuesday, 24 May 2016. The results announcement will be available on BGEO Group’s website at www.bgeo.com. An investor/analyst conference call, organized by BGEO Group, will be held on, 24 May 2016, at 14:00 UK / 15:00 CET / 09:00 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

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BGEO Group’s healthcare subsidiary completes its earlier announced acquisition of pharmaceutical business in Georgia

BGEO Group’s healthcare subsidiary completes its earlier announced acquisition of pharmaceutical business in Georgia

BGEO Group PLC (“BGEO” or the “Group”), the holding company of JSC Bank of Georgia (“the
Bank”), Georgia’s leading bank, announces that its healthcare subsidiary, Georgia Healthcare Group PLC
("GHG"), has today announced that it has successfully completed its recently announced acquisition one
of the top three pharmaceutical retailers and wholesalers in Georgia. The acquisition was completed as a
result of obtaining relevant regulatory approval and the signing of a Share Purchase Agreement (“SPA”)
to acquire a 100% equity stake in GPC. The SPA was signed following GHG’s announcement on 16
March, 2016 of the signing of a binding Memorandum of Understanding (“MOU”) subject to the relevant
regulatory approvals, to acquire a 100% equity stake in GPC. The key terms and conditions of the MOU
are unchanged in the SPA.

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BGEO Group PLC announces publishing of its corrected Annual Report 2015

BGEO Group PLC announces publishing of its corrected Annual Report 2015

BGEO Group PLC (BGEO) (LSE:BGEO) announces that, following the recent release of the BGEO Group PLC Annual Report & Accounts for the year ended 31 December 2015 (the 2015 Annual Report), erroneous wording has been identified in the notes to the consolidated financial statements at page 198. This previously stated that a table at Note 29 included the carrying amount for renegotiated assets overdue by more than 90 days, by class. The full, correct sentence reads as follows: "The table below shows the carrying amount for renegotiated financial assets, by class."

In addition, a small number of cross-references contained within the 2015 Annual Report have been amended. The correction of these errors has no impact on BGEO’s reported results.

The corrected 2015 Annual Report is available at the following link: www.bgeo.com/page/id/1/annual-reports.

The corrected copy of the 2015 Annual Report has also been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.morningstar.co.uk/uk/NSM.

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BGEO Group PLC announces publishing of its Annual Report 2015

BGEO Group PLC announces publishing of its Annual Report 2015

BGEO Group PLC (BGEO) (LSE: BGEO) has today published its Annual Report and Accounts for the financial year ended to 31 December 2015 (the Annual Report 2015). A copy of the Annual Report 2015 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 2015 is also available on BGEO's website at www.bgeo.com. BGEO’s Annual General Meeting is scheduled for 26 May 2016 and the Notice of Annual General Meeting will be dispatched to shareholders on or about 25 April 2016.

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BGEO Group’s healthcare subsidiary acquires one of the largest retail and wholesale pharmacy chains

BGEO Group’s healthcare subsidiary acquires one of the largest retail and wholesale pharmacy chains

BGEO Group PLC (“BGEO” or the “Group”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that its healthcare subsidiary, Georgia Healthcare Group PLC ("GHG"), has today announced that it has signed a binding Memorandum of Understanding, subject to relevant regulatory approvals, to acquire a 100% equity stake in JSC GPC (“GPC”), one of the top three pharmaceutical retailers and wholesalers in Georgia.

The acquisition of GPC supports GHG’s expansion strategy and its aim to be the leading integrated player in the Georgian healthcare ecosystem of GEL 3.4 billion value. It positions GHG as the major purchaser of pharmaceutical products in Georgia, and provides a platform which offers significant synergy potential.

GHG’s announcement is available at the following link: http://ghg.com.ge/news

GHG’s announcement outlines the details of the GPC business, together with transaction highlights and the rationale for the acquisition.

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BGEO Group PLC 4Q15 and FY15 Results

BGEO Group PLC 4Q15 and FY15 Results

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BGEO Group PLC notice of 4Q 2015 and twelve months ended 31 December 2015 Results

BGEO Group PLC notice of 4Q 2015 and twelve months ended 31 December 2015 Results

BGEO Group PLC will publish its financial results for 4Q 2015 and twelve month ended 31 December 2015 at 07:00 London time on Tuesday, 16 February 2016. The results announcement will be available on BGEO Group’s website at www.bgeo.com. An investor/analyst conference call, organized by BGEO Group, will be held on, 16 February 2016, at 14:30 UK / 15:30 CET / 09:30 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

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BGEO announces merger of BOG’s Corporate Banking and Investment Management businesses

BGEO announces merger of BOG’s Corporate Banking and Investment Management businesses

BGEO Group PLC (“BGEO” or the “Group”), the holding company of JSC Bank of Georgia (“BOG” or “the Bank”),announces the combination of its Corporate Banking and Investment Management businesses into a Corporate Investment Banking business (“CIB”). The merged business will leverage our superior knowledge and capital markets capabilities in the Georgian and neighbouring markets both in terms of reach and the expertise that we have accumulated during the past several years through our corporate advisory, research and brokerage practices united under Galt&Taggart – a wholly owned subsidiary of Bank of Georgia at the forefront of capital markets development in the country. As a result, we expect to grow our fee income, improve the Bank’s ROAE and reduce concentration risk in the corporate lending portfolio. Reflecting this change, the Group will report CIB business results separately starting in the first quarter 2016.


Archil Gachechiladze, currently Group CFO and Deputy CEO, Investment Management at the Bank is to lead the merged business, replacing Sulkhan Gvalia, currently Deputy CEO, Corporate Banking, who is leaving the Bank with immediate effect. Archil will step down from his present position of Group CFO and Levan Kulijanishvili, a long-standing professional, and currently Deputy CEO, Finance at the Bank will also undertake the responsibilities of Group CFO. BGEO Group also announces the appointment of Tornike Gogichaishvili, currently Chief Operating Officer at the Bank, as Deputy CEO Operations at the Bank, joined by Alexander (Sasha) Katsman as Deputy CEO Human Resources and Brand management at the Bank. The new appointments are effective immediately, following regulatory approval from the National Bank of Georgia. The service contracts of both Tornike Gogichaishvili and Alexander Katsman have been set until 1 May 2019. Service contracts for Archil and Levan remain unchanged.

“I am confident that Archil, who has effectively led both the Corporate Banking and Investment Management businesses in recent years, is best suited to successfully integrate these businesses to facilitate our continued commitment to growing Bank of Georgia’s strong corporate banking and advisory franchise. I want to take this opportunity to thank Sulkhan for his remarkable contribution to the success of the Bank. He spent 11 years with the Bank and Sulkhan is one of the key people responsible for the recent success of Bank of Georgia. I wish him all the best for the future. At the Bank of Georgia level we have further strengthened the management and I would like to congratulate Levan, Tornike and Sasha on their enhanced roles. Finally, I am particularly pleased that all these positions were filled with internal promotions from the long bench of strong management we have established over the last few years,” commented Irakli Gilauri, the Group CEO.
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BGEO Group announces market purchase of shares for its Employee Benefit Trust

BGEO Group announces market purchase of shares for its Employee Benefit Trust

BGEO Group PLC (BGEO or the Group), the holding company of JSC Bank of Georgia (the Bank), Georgia’s leading bank, was notified on Friday, 8 January 2016, by Sanne Fiduciary Services Limited (Sanne), acting as trustee of the Rubicon Executive Equity Compensation Trust (Trust), that Sanne purchased in the market 70,139 BGEO ordinary shares (Shares) at an average price of £18.1385 per Share this past Friday. The purchase was made by Sanne in its absolute discretion.

The Trust holds the Shares for the purpose of satisfying awards to be awarded to beneficiaries of the Trust. The executive directors and persons discharging managerial responsibility of the Group are potential beneficiaries under the Trust and are therefore treated as having an interest in such Shares.

Following the above transaction, the Trust holds a total of 1,301,097 Shares, representing approximately 3.29% of the Company's issued ordinary share capital.

Of the 1,301,097 Shares held by the Trust, 722,225 of these Shares have already been awarded and have vested or remain unvested.

Name of authorised official of issuer responsible for making notification:

Kate Bennett Rea, Company Secretary

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BGEO Group announces market purchase of shares for its Employee Benefit Trust

BGEO Group announces market purchase of shares for its Employee Benefit Trust

BGEO Group PLC (“BGEO” or the “Group”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, was notified on Tuesday, 29 December 2015, by Sanne Fiduciary Services Limited (“Sanne”), acting as trustee of the Rubicon Executive Equity Compensation Trust (“Trust”), that Sanne purchased on Thursday, 24 December 2015 in the market 32,000 BGEO ordinary shares (“Shares”) at an average price of £19.515 per Share.

The Trust holds the Shares for the purpose of satisfying awards to be awarded to beneficiaries of the Trust. The executive directors and persons discharging managerial responsibility of the Group are potential beneficiaries under the Trust and are therefore treated as having an interest in such Shares.

Following the above transaction, the Trust holds a total of 1,233,406 Shares, representing approximately 3.12% of the Company's issued ordinary share capital. Of the 1,233,406 Shares held by the Trust, 725,285 Shares have already been awarded and have vested or remain unvested.

Name of authorised official of issuer responsible for making notification:

Kate Bennett Rea, Company Secretary

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BGEO Group announces market purchase of shares for its Employee Benefit Trust

BGEO Group announces market purchase of shares for its Employee Benefit Trust

BGEO Group PLC (BGEO or the Group), the holding company of JSC Bank of Georgia (the Bank), Georgia’s leading bank, was notified on Friday, 8 January 2016, by Sanne Fiduciary Services Limited (Sanne), acting as trustee of the Rubicon Executive Equity Compensation Trust (Trust), that Sanne purchased in the market 70,139 BGEO ordinary shares (Shares) at an average price of £18.1385 per Share this past Friday. The purchase was made by Sanne in its absolute discretion.

The Trust holds the Shares for the purpose of satisfying awards to be awarded to beneficiaries of the Trust. The executive directors and persons discharging managerial responsibility of the Group are potential beneficiaries under the Trust and are therefore treated as having an interest in such Shares.

Following the above transaction, the Trust holds a total of 1,301,097 Shares, representing approximately 3.29% of the Company's issued ordinary share capital.

Of the 1,301,097 Shares held by the Trust, 722,225 of these Shares have already been awarded and have vested or remain unvested.

Name of authorised official of issuer responsible for making notification:

Kate Bennett Rea, Company Secretary

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BGEO Group announces market purchase of shares for its Employee Benefit Trust

BGEO Group announces market purchase of shares for its Employee Benefit Trust

BGEO Group PLC (BGEO or the Group), the holding company of JSC Bank of Georgia (the Bank), Georgia’s leading bank, was notified on Friday, 11 December 2015, by Sanne Fiduciary Services Limited (Sanne), acting as trustee of the Rubicon Executive Equity Compensation Trust (Trust), that Sanne purchased today in the market 73,440 BGEO ordinary shares (Shares) at an average price of £19.1592 per Share.

The Trust holds the Shares for the purpose of satisfying awards to be awarded to beneficiaries of the Trust. The executive directors and persons discharging managerial responsibility of the Group are potential beneficiaries under the Trust and are therefore treated as having an interest in such Shares.

Following the above transaction, the Trust holds a total of 1,171,406 Shares, representing approximately 2.97% of the Company's issued ordinary share capital.

Of the 1,171,406 Shares held by the Trust, 725,285 of these Shares have already been awarded and have vested or remain unvested.

Name of authorised official of issuer responsible for making notification:

Kate Bennett Rea, Company Secretary

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Bank of Georgia receives the Bank of the Year 2015 awards by The Banker magazine

Bank of Georgia receives the Bank of the Year 2015 awards by The Banker magazine

BGEO Group PLC (“BGEO” or the “Group”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that the Bank has received “The Bank of the Year 2015” award for both Georgia, and Central and Eastern Europe by The Banker magazine. The award is given annually to leading commercial and investment banks worldwide in recognition of their achievements.


“I am delighted that Bank of Georgia has been recognised as the top bank in both Georgia, and the Central and Eastern Europe region. These prestigious awards serve as a recognition that Bank of Georgia continues to successfully maintain its leadership role in the country while establishing itself amongst the leading banks in Europe. Receiving these awards is particularly rewarding against the challenging regional macroeconomic backdrop over the last twelve months, and I want to congratulate our banking team on this achievement which reflects their persistent efforts to deliver a strong performance for the year,” commented Irakli Gilauri, the Group CEO.
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BGEO Group announces market purchase of shares for its Employee Benefit Trust

BGEO Group announces market purchase of shares for its Employee Benefit Trust

BGEO Group PLC (BGEO or the Group), the holding company of JSC Bank of Georgia (the Bank), Georgia’s leading bank, was notified on Friday, 4 December 2015, by Sanne Fiduciary Services Limited (Sanne), acting as trustee of the Rubicon Executive Equity Compensation Trust (Trust), that Sanne purchased today in the market 12,217 BGEO ordinary shares (Shares) at an average price of £19.1105 per Share.

The Trust holds the Shares for the purpose of satisfying awards to be awarded to beneficiaries of the Trust. The executive directors and persons discharging managerial responsibility of the Group are potential beneficiaries under the Trust and are therefore treated as having an interest in such Shares.

Following the above transaction, the Trust holds a total of 1,097,966 Shares, representing approximately 2.78% of the Company's issued ordinary share capital.

Of the 1,097,966 Shares held by the Trust, 725,285 of these Shares have already been awarded and have vested or remain unvested.

Name of authorised official of issuer responsible for making notification:

Kate Bennett Rea, Company Secretary

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BGEO Group announces market purchase of shares for its Employee Benefit Trust

BGEO Group announces market purchase of shares for its Employee Benefit Trust

BGEO Group PLC (“BGEO” or the “Group”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, was notified today by Sanne Fiduciary Services Limited (“Sanne”), acting as trustee of the Rubicon Executive Equity Compensation Trust (“Trust”), that on 27 November 2015, Sanne purchased in the market 135,000 BGEO ordinary shares (“Shares”) at an average price of £18.20558 per Share.


The Trust holds the Shares for the purpose of satisfying awards to be awarded to beneficiaries of the Trust. The executive directors and persons discharging managerial responsibility of the Group are potential beneficiaries under the Trust and are therefore treated as having an interest in such Shares.


Following the above transaction, the Trust holds a total of 1,085,749 Shares, representing approximately 2.75% of the Company's issued ordinary share capital.


Of the 1,085,749 Shares held by the Trust, 725,285 of these Shares have already been awarded and have vested or remain unvested.


Name of authorised official of issuer responsible for making notification:


Kate Bennett Rea, Company Secretary

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BGEO hosts Investor Day in London

BGEO hosts Investor Day in London

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BGEO Group PLC 3Q and 9M 2015 Results

BGEO Group PLC 3Q and 9M 2015 Results

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Bank of Georgia Holdings PLC notice of 3Q and 9M 2015 Results

Bank of Georgia Holdings PLC notice of 3Q and 9M 2015 Results

Bank of Georgia Holdings PLC will publish its financial results for third quarter and nine months of 2015 at 07:00 London time on Monday, 23 November 2015. The results announcement will be available on Bank of Georgia Holding's website at www.bogh.co.uk Results discusion will take place on Monday, 23 November 2015, during Investor Day held by Bank of Georgia Holdings in London at the following address: Claridge’s Hotel – Brook Street, Mayfair, London, W1K4HR.

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Bank of Georgia Holdings announces its name change to BGEO Group PLC

Bank of Georgia Holdings announces its name change to BGEO Group PLC

Bank of Georgia Holdings PLC (“BGH” or the “Group”) announces that it has completed the change of its name from Bank of Georgia Holdings PLC to BGEO Group PLC following its announcement regarding its intention to change the name in August 2015.


Logo change:
To reflect the change in name, the Group also changed its logo, replacing the previously used BGH logo:


Web-site change:
Additionally, the Group launched its updated web-site with the following new address: www.BGEO.com, replacing the previous web-site (www.bogh.co.uk). Relevant BGH related information, including announcements, financial reports, regulatory documentation, and investor presentations are now available on the new web-site.
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BGH’s healthcare subsidiary announces the Offering Price for its IPO

BGH’s healthcare subsidiary announces the Offering Price for its IPO

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BGH Investor Day Notice

BGH Investor Day Notice

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BGH's healthcare subsidiary announces indicative price range for its IPO

BGH's healthcare subsidiary announces indicative price range for its IPO

NOT FOR RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL.

The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States unless the securities are registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available. The issuer of the securities has not registered, and does not intend to register, any portion of the offering in the United States, and does not intend to conduct a public offering of securities in the United States.


These materials shall not constitute or form part of an offer or invitation to sell or the solicitation of an offer to buy or subscribe, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

BGH’s healthcare subsidiary announces indicative price range for its IPO

Bank of Georgia Holdings PLC’s (“BGH”) healthcare subsidiary Georgia Healthcare Group PLC (“GHG”) has today announced an indicative price range for the initial public offering of its ordinary shares, which are expected to be admitted to listing on the premium listing segment of the Official List and to trading on the London Stock Exchange plc (the "IPO").

Details of GHG's announcement can be found at the following link: http://ghg.com.ge/news

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BGH subsidiary joins forces with Saxo Bank to extend trading capabilities

BGH subsidiary joins forces with Saxo Bank to extend trading capabilities

Bank of Georgia Holdings PLC (“BGH” or the “Group”) announces that its wholly owned investment management subsidiary JSC Galt & Taggart (“Galt & Taggart” or the “Company”) has signed an agreement with Saxo Bank that will enable clients of Galt & Taggart to access global capital markets and invest on a multi asset basis. Galt & Taggart offers a wide range of investment banking and investment management services through its Investment Banking, Asset Management, Brokerage, Wealth Management, and Research units (www.gt.ge).

This move is in line with the company’s strategy to provide superior access to capital markets to its clients and is an extention of Galt & Taggart’s track record of offering the best trading capabilities in the country and bringing the latest technology to the market while providing clients with complete control over their investments. The product will activate in November 2015 and will deliver a highly adaptive trading experience with professional tools, insights and world-class execution to its users.

“I am very excited about our prospects of partnering with Saxo Bank and further promoting our clients’ trading practice by bringing the latest expertise to the market. This collaboration with Saxo Bank will enrich Galt & Taggart’s services and better position the company to help local and regional investors explore investment opportunities and offer greater access to capital markets. I want to congratulate the Galt & Taggart team with the completion of this key milestone in their aim to develop capital markets in the region and we are looking forward to unveiling a full offering to our clients in November 2015” said Irakli Gilauri, Group CEO of Bank of Georgia Holdings PLC.

About Saxo Bank: Saxo Markets is the Institutional Division of Saxo Bank Group. Saxo Markets provides institutional clients and their end customers with multi-asset execution, prime brokerage and trading technology. Saxo Markets engages with institutions of all types to help them capitalise on the disruption happening across financial services and is an outsourcing leader for white labelling and multi-asset trading. Saxo Markets’ speed of innovation and use of disruptive technologies empowers institutional clients to deliver seamless experiences for their end users to access capital markets. As a bank offering fully digitalised solutions for self-trading, advisory and discretionary services, Saxo Markets is continuously at the forefront of innovation. Saxo Markets serves institutional clients through main institutional centres in the UK, Denmark and Singapore. Saxo Bank is the Private Division of Saxo Bank Group enabling private investors to trade multiple assets from a single mar gin account on SaxoTrader and SaxoTraderGO platforms. Saxo Bank also offers traditional banking services through Saxo Privatbank. Founded in 1992, Saxo Bank is headquartered in Copenhagen and has offices in 26 countries (www.markets.saxo).

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BGH’s healthcare subsidiary announces intention to float

BGH’s healthcare subsidiary announces intention to float

NOT FOR RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL.

The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the"Securities Act"), and may not be offered or sold in the United States unless the securities are registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available. The issuer of the securities has not registered, and does not intend to register, any portion of the offering in the United States, and does not intend to conduct a public offering of securities in the United States.

These materials shall not constitute or form part of an offer or invitation to sell or the solicitation of an offer to buy or subscribe, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

Bank of Georgia Holdings PLC’s (“BGH” or the “Group”) healthcare subsidiary Georgia Healthcare Group PLC (“GHG” or the “Company”) has today announced its intention to make an initial public offering of its ordinary shares, which are expected to be admitted to listing on the premium listing segment of the Official List and to trading on the London Stock Exchange plc (the "IPO").

GHG is the single largest scale healthcare services and medical insurance provider operating in the fast-growing, predominantly privately-owned, Georgian healthcare market, which is characterised by low utilisation and high fragmentation, leaving significant room for medium-to-long term growth. The healthcare services market (including hospitals and ambulatory clinics) is estimated at GEL 2.1 billion for 2015, with a strong compound growth momentum of 13.5% between 2011 and 2014, which is expected to continue growing at 13.3% during the period 2014-2018. Healthcare services spending per capita is currently at a very low base of only US$ 217, with annual outpatient encounters of only 2.7 per capita and hospital bed utilisation of only 50%, all significantly lower than many comparable countries. Supportive government reforms and the engagement of private players in the sector have resulted in significant improvements in the overall standard of infrastructure and greatly boosted demand for quality healthcare services. With GHG’s scale, efficient operations, breadth and quality of service offering and proven management team, the management of GHG believes that GHG is ideally positioned to take advantage of the expected long-term macroeconomic and structural growth drivers favourably influencing the Georgian healthcare services market.

As previously announced, reflecting these long-term growth prospects, the management of GHG is targeting at least doubling of 2015 revenues by 2018 through a combination of:

  • Expanding through the further development of both existing and recently acquired hospitals, focusing predominantly on the higher revenue referral hospital segments in Tbilisi
    The addressable hospital market is GEL 1.2 billion in 2015 and isforecasted to grow at a compound annual growth rate of 11.3% during the period 2014 to 2018. GHG’s market share was 14.0% and 22.1% by revenue and bed capacity, respectively, at 30 June 2015. Following the acquisition of High Technology Medical Centre University Clinic in August 2015, GHG’s market share by beds grew to 26.6%, and (on a pro forma basis) market share by revenue increased to 17.6%
  • Launching of a network of new ambulatory clinics across Tbilisi and in other major cities in Georgia
    The addressable ambulatory clinic market is GEL 0.9 billion in 2015 and is forecasted to grow at a compound annual growth rate of 15.9% during the period2014 to 2018. GHG’s market share was under 1% at 30 June 2015, with the rest of the market similarly fragmented, with no single player having more than 1% market share and no other player having comparable access to capital and management, allowing GHG a unique first mover advantage in this highly fragmented and underpenetrated outpatient segment
  • Continuing to grow over the medium-term by developing new services and investing in medical technology to fill existing medical service gaps in the country and improve efficiencies
    Currently service gaps exist in a number of basic diagnostics areas and treatments, such as MRI, laparoscopic surgeries, oncology, pediatrics, neonatology, intensive care, cardiology, and rehabilitation services
  • Continued focus on improving operational efficiency and utilisation to further improve margins
    GHG’s healthcare services EBITDA margin was 25.3% in the first half of 2015, improving compared to 23.1% for the same period last year toward a target of approximately 30%. GHG is in the process of integrating its newly acquired hospital facilities, and is targeting a second wave of integration which among other things will include the centralisation of engineering, archiving, and ERP roll-out


The planned IPO is an important transaction for BGH, as it represents the first realisation of BGH’s investment in non-banking businesses, and demonstrates the potential to unlock the significant value described when the Group announced its new corporate strategy in December 2014. Shortly after the GHG IPO, BGH will hold an investor day in London, where the Group will update the market on its business strategy and capital management plans.


Nikoloz Gamkrelidze, CEO of Georgia Healthcare Group PLC, commented: “The IPO, premium listing and admission to trading of GHG's shares on the London Stock Exchange will enable us to finance our immediate growth plans and if necessary provide access to capital markets for our future growth. We are targeting to increase market share within the estimated GEL 2.1 billion Georgian healthcare services market in 2015 by accelerating revenue enhancement at our hospitals and replicating our hospital consolidation experience in the outpatient segment by expanding organically into ambulatory clinics where GHG’s current market share is close to zero.


The IPO will enhance GHG’s profile with investors, business partners and patients and will increase the ability of GHG to attract and retain key management, physicians and other employees, and diversify the shareholder base of the Company. Perhaps most importantly, it will also help to provide improved healthcare services to the Georgian population.”

Irakli Gilauri, Group CEO of Bank of Georgia Holdings PLC and Chairman of Georgia Healthcare Group PLC said: “In 2010 we saw an attractive investment opportunity in the healthcare industry – it was larger than the banking sector when measured as a percentage of GDP. Georgia’s healthcare reform had just started And even today, Georgia’s current healthcare industry is in a very early stage of development, where capital and management resources are limited. It reminds me of the banking industry 10 years ago.
Since 2010, we have created the single largest scale player in the Georgian healthcare market, with over four times the hospital beds of our nearest competitor. GHG is now institutionalising best practices in the Georgian healthcare industry, just as we have done in banking. However unlike in banking, competition in the Georgian healthcare industry is limited. We believe that GHG has significant upside through having a first mover advantage, first class management team and access to capital.


Whilst remaining absolutely committed to the development of GHG, we are now looking to crystallise our investment in GHG in the forthcoming IPO. BGH’s strong corporate governance standards have been replicated in GHG and GHG’s culture of transparency, its executive remuneration policy and its adherence to robust corporate governance policies strongly position GHG for its premium listing and expected FTSE All-Share Index inclusion. As far as possible, it is our firm intention to allow our shareholders to participate in the IPO. The Boards and management teams of BGH and GHG appreciate the growth potential that GHG has and I, along with many of my colleagues on the Board and management team, intend to invest in the IPO.”

The contents of this communication, for which the Group is responsible, have been approved by Citgroup Global Markets Limited and Jefferies International Limited who are authorised and regulated by the United Kingdom Financial Conduct Authority, solely for the purposes of Section 21 of the United Kingdom Financial Services and Markets Act 2000. Citigroup Global Markets Limited,

Jefferies International Ltd, Numis Securities, Renaissance Securities (Cyprus) Limited and JSC Galt & Taggart are acting for the Group and GHG and no one else in relation to the proposed offer of GHG's securities and will not be responsible to anyone other than the Group and GHG for providing the protections afforded to its clients nor for giving advice in relation to the proposed offer.

Notwithstanding the approval referred to above, this communication is only addressed to, and directed at, (a) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), (b) high net worth entities, falling within Article 49(2) of the Order and (c) other persons to whom it may otherwise lawfully be communicated, (all such persons together being referred to as "relevant persons"). The proposed offering of GHG's securities will be made available only to selected relevant persons. Any person who is not a relevant person should not act or rely on this communication or any of its contents.

This communication is an advertisement and is not a prospectus for the purposes of EU Directive 2003/71/EC, as amended (the "Directive") and/or Part VI of the United Kingdom Financial Services and Markets Act 2000. It is intended that a final form prospectus will be prepared and made available to the public by GHG in connection with the admission of its ordinary shares to the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange plc and in accordance with the Directive. Investors should not subscribe for any securities referred to in this communication except on the basis of information contained in that final form prospectus. The final form prospectus, when published, will be available on the website of GHG.

Forward-Looking Statements

This communication contains certain forward-looking statements. A forward-looking statement is any statement that does not relate to historical facts and events, and can generally be identified by the use of forward looking terminology, such as "believes”, “could”, “estimates”, “expects”, “may”, "shall", “plans”, predicts”, “will”, “would” or, in each case, the negative thereof or other similar expressions.. This applies, in particular, to statements containing information on future financial results, plans, or expectations regarding business and management, future growth or profitability and general economic and regulatory conditions and other matters affecting the Group and/or GHG.

Forward-looking statements reflect the current views of BGH's, or as applicable, GHG's, management on future events, which are based on the assumptions of BGH's, or as applicable, GHG's, management and involve known and unknown risks, uncertainties and other factors that may cause the Group’s and/or GHG's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. The occurrence, or nonoccurrence, of an assumption could cause the Group’s and/or GHG's actual financial condition and results of operations to differ materially from, or fail to meet expectations expressed or implied by, such forward-looking statements.

Each of the Group’s and GHG's business is subject to a number of risks and uncertainties that could also cause a forward-looking statement, estimate or prediction to differ materially from those expressed or implied by the forward-looking statements contained in this communication. The information, opinions and forward-looking statements contained in this communication speak only as at its date and are subject to change without notice. Neither the Group nor GHG undertakes any obligation to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this communication
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Bank of Georgia Holdings announces appointments and extension of management contracts

Bank of Georgia Holdings announces appointments and extension of management contracts

Bank of Georgia Holdings PLC (“BGH”) announces appointments and the extension of management contracts following the legal restructuring of JSC Bank of Georgia (“BoG”) and its subsidiaries (together, the “Group”) undertaken in August 2015, as announced in December 2014.
(link to previous announcements: http://bgeo.com/news ).

There are no changes to the management structure of Bank of Georgia Holdings PLC, where Neil Janin will remain as Chairman of the Board of Directors and Irakli Gilauri will continue as Group Chief Executive Officer.

At JSC BGEO Group, which was established as a result of the restructuring to act as the Georgian holding company for the Group and to oversee Group’s subsidiaries that are grouped into banking businesses and investment businesses under JSC BGEO Group, the Board has appointed Irakli Gilauri as Group CEO and Chairman of the Group’s subsidiaries. Irakli Gilauri’s service contract has been extended until 1 May 2019 and his compensation package of cash and share salary has not been changed. Irakli Gilauri has been joined by Archil Gachechiladze as Group CFO, in addition to his existing role (Mr Gachechiladze currently is Deputy CEO, Investment Management at JSC Bank of Georgia), and by Avto Namicheishvili as Group General Legal Counsel (Mr Namicheishvili previously served as Deputy CEO, Legal at JSC Bank of Georgia). The service contracts of both Mr Gachechiladze and Mr Namichieshvili have also been extended until 1 May 2019.

At JSC Bank of Geogia, Murtaz Kikoria, previously Deputy CEO, Finance has succeeded Irakli Gilauri as CEO of JSC Bank of Georgia. Irakli Gilauri has become Chariman of JSC Bank of Georgia. Following this change, Levan Kulijanishvili – a long-standing BOG professional who most recently served as the Head of Compliance and Internal Control – has been promoted to Deputy CEO, Finance. Additionally, contracts have been extended for Mikheil Gomarteli, Deputy CEO Retail Banking and Sulkhan Gvalia, Deputy CEO Corporate Banking at JSC Bank of Georgia, as well as for Irakli Burdiladze, who continues to serve as CEO of JSC m2 Real Estate. Levan Kulijanishvili’s contract expires on 1 September 2018. All other contracts expire on 1 May 2019.

The management service contracts have been extended under the same terms and conditions in line with the Group’s Compensation Policy, which was adopted in May 2013. There has been an increase in the number of long term deferred salary shares for some executives, in connection with the contract extension. The aggregate amount of such increase is 30,000 shares per year. The Compensation Policy consists of a fixed component including a proportion payable in cash in the form of salary and a proportion payable in long term deferred grants of BGH shares. The awarded long term deferred share grants are subject to a five-year vesting period. During the first year none of the awarded shares vest, with 20% of the awarded shares vesting in each of the following three years and 40% vesting in the fifth year after each award.

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Bank of Georgia Holdings PLC 2Q15 and 1H15 Results

Bank of Georgia Holdings PLC 2Q15 and 1H15 Results

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Bank of Georgia Holdings PLC notice of 2Q and 1H 2015 Results

Bank of Georgia Holdings PLC notice of 2Q and 1H 2015 Results

Bank of Georgia Holdings PLC will publish its financial results for 2Q and 1H 2015 at 07:00 London time on Thursday, 20
August 2015. The results announcement will be available on Bank of Georgia Holding's website at www.bogh.co.uk. An
investor/analyst conference call, organised by Bank of Georgia Holdings, will be held on Thursday, 20 August 2015, at 14:00
UK / 15:00 CET / 09:00 U.S. Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update
and a 45-minute Q&A session.

Dial-in numbers: 30-Day replay:
Pass code for replays / Conference ID: 17004818 Pass code for replays / Conference ID: 17004818
International Dial in: +44 (0) 1452 541003 International Dial in: +44 (0) 1452 55 00 00
UK: 08006945707 UK National Dial In: 08717000145
US: 18662540808 UK Local Dial In: 0844 338 6600
Austria: 0800999884 USA Free Call Dial In: 1866 247 4222
Belgium: 011500193
Czech Republic: 234099936
Denmark: 80884503
Finland: 0800114763
France: 0805110980
Germany: 08005888420
Hungary: 0680018848
Ireland: 1800937001
Italy: 800897622
Luxembourg: 80027953
Netherlands: 0207168005
Norway: 21563298
Spain: 800600050
Sweden: 0200883084
Switzerland: 0800650024
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Bank of Georgia completes legal restructuring - group structure

Bank of Georgia completes legal restructuring - group structure

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Bank of Georgia completes legal restructuring

Bank of Georgia completes legal restructuring

Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that the Bank has completed its legal restructuring as announced in December 2014 (link to December 2014 announcement: http://bogh.co.uk/en/announcements/bank-of-georgia-holdings-plc/press-releases). The reorganisation was undertaken in accordance with the National Bank of Georgia’s intention to regulate banks in Georgia on a standalone basis and thereby limit investments in non-banking subsidiaries by locally regulated banking entities.

BGH has established a 100% subsidiary JSC BGEO Group to act as an ultimate Georgian holding company, for the Group. The
group’s subsidiaries are grouped into banking businesses and investment businesses under JSC BGEO Group, which represents an optimal fit to manage the group as a Georgia-focused banking group with an investment arm. The detailed group structure can be found on this link: http://bogh.co.uk/en/announcements/bank-of-georgia-holdings-plc/press-releases. The board also intends to rename Bank of Georgia Holdings PLC, UK registered holding company, into BGEO Group PLC.

There are no changes to the management structure of Bank of Georgia Holdings PLC, where Neil Janin will remain as Chairman of Board of Directors and Irakli Gilauri will continue as Chief Executive Officer. At the Georgian holding company level, the Board has appointed Irakli Gilauri as CEO of BGEO Group where he is joined by Archil Gachechiladze as Group CFO, in addition to his
existing role (Mr Gachechiladze currently is Deputy CEO, Investment Management at JSC Bank of Georgia), and by Avto Namicheishvili as Group Deputy CEO, Legal. Murtaz Kikoria, currently Deputy CEO, Finance will succeed Irakli Gilauri as CEO of JSC Bank of Georgia and Irakli Gilauri will become the chairman of JSC Bank of Georgia. In line with the group restructuring, the board intends to sign new service agreements with senior management.

“Our recently updated strategy and the changes in our regulatory requirements, both of which were announced last year, created the need for the new legal structure. The new structure, which is now very well streamlined for our strategy, will facilitate our continued commitment to growing Bank of Georgia’s strong retail and corporate banking franchise and allow the Group to continue to capture compelling investment opportunities in Georgia’s corporate sector,” said Irakli Gilauri, CEO of Bank of Georgia Holdings PLC.

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Bank of Georgia announces a new appointment to its Board of Directors

Bank of Georgia announces a new appointment to its Board of Directors

Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces a new appointment to the Board of Directors of BGH (‘the Board”) effective immediately.

Ms Hanna Loikkanen joins the Board as an independent non-executive director. She will also join the Supervisory Board of the Bank, subject to the regulatory approval. Hanna Loikkanen previously served as a non-independent non-executive director of BGH and the Bank when East Capital held a significant shareholding of BGH and stepped down from the Board in 2013. The Board deems Ms Loikkanen fully independent upon her recent appointment as a result of the sale of East Capital’s stake in BGH in 2013, her departure as an employee from East Capital and the absence of any material business dealings between BGH and East Capital over the last 3 years.

“I am happy to welcome back Hanna to our first-class Board of Directors. Hanna brings with her a wealth of knowledge and experience that we believe will be a valuable addition the current skill mix within the Board. The independence of character and judgment, that she has demonstrated during her previous term as BGH’s Director ensures that our Board stays fully independent in line with our commitment to high standards of corporate governance. Her appointment also reinforces our aim to increase the number of women on the Board, as we set out in the Board Diversity Policy we adopted in 2014,” said Neil Janin, Chairman of the Board of Directors.

Biography
Hanna-Leena (Hanna) Loikkanen. Ms Loikkanen has over 20 years of experience in working with financial institutions in Russia and Eastern Europe. She currently serves as an advisor to the Representative Office of East Capital International AB. Prior to this, she served from 2010 until 2012 as the Chief Representative and Head of the Private Equity team at East Capital, a Swedish asset management company in Moscow, with a special focus on financial institutions. Prior to joining East Capital, Ms Loikkanen held the position of Country Manager and Chief Executive Officer at FIM Group in Russia, a Finnish investment bank, where she was responsible for setting up and running the Bank’s brokerage and corporate finance operations in Russia. Before joining FIM Group, Ms Loikkanen worked for Nordea Finance for several years in various management positions in Poland, the Baltic States and Finland. Earlier in her career, Ms Loikkanen worked for Merita Bank in St. Petersburg as Chief Representative as well as for SEB in Moscow. She holds a Masters degree in Economics and Business Administration from the Helsinki School of Economics.

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Dividend Announcement

Dividend Announcement

On 21 May 2015, the shareholders of Bank of Georgia Holdings PLC (the Company) (LSE: BGEO LN), the holding company of JSC Bank of Georgia (the Bank), Georgia's leading bank, approved the declaration of a final dividend of Georgian Lari 2.1 per share in respect of the year ended 31 December 2014, payable to ordinary shareholders of the Company in British Pounds Sterling pursuant to the following timetable:

Ex-Dividend Date: 4 June 2015
Record Date: 5 June 2015
Currency Conversion Date: 8 June 2015
Payment Date: 16 June 2015


The Company hereby confirms that the National Bank of Georgia Georgian Lari/British Pounds Sterling exchange rate as of 8 June 2015 is 3.5110 and shall be used to pay dividends to ordinary shareholders of the Company on 16 June 2015.

Those shareholders who have not provided their appropriate bank account details to Computershare Investor Services PLC for payment of the dividend will be paid the dividend by cheque in British Pounds Sterling.



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Bank of Georgia signs USD 90 million subordinated loan agreement with IFC

Bank of Georgia signs USD 90 million subordinated loan agreement with IFC

Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces that the Bank has signed a USD 90 million subordinated loan agreement with the International Finance Corporation (“IFC”). IFC is providing long term financing to help increase the Bank’s role in diversifying Georgia’s economy, expand access to finance and boost sustainable growth. The loan facility, which includes USD 20 million from the European Fund for Southeast Europe (“EFSE”) bears a maturity of ten years and qualifies as Tier II capital under the Basel 2 framework.

“The loan package will help Bank of Georgia finance more smaller businesses, which are a driving force for development but often lack the capital to grow,” said Jan van Bilsen, IFC Regional Manager for the South Caucasus. “This project is yet another step forward in implementing our strategy in Georgia – one pillar of which focuses on mobilizing our partners’ resources to help expand the financial sector, boost access to finance, and reduce poverty.”

“I am pleased to announce the completion of one of the largest IFI debt transactions for Bank of Georgia. This financing will help us expand our already large small business customer base. This subordinated loan facility, which qualifies as Tier II Capital, will improve the overall capitalisation of the Bank and support further growth without compromising capital ratios. I would like to thank our long-time partners IFC and EFSE for their ongoing collaboration,” said Irakli Gilauri, Chief Executive Officer.

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Bank of Georgia’s healthcare subsidiary acquires a major hospital in Tbilisi

Bank of Georgia’s healthcare subsidiary acquires a major hospital in Tbilisi

Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that Georgia Healthcare Group (“GHG”), the Bank’s healthcare subsidiary, has signed a binding Memorandum of Understanding, subject to relevant regulatory approvals, to acquire 50.0% equity interest in GNCo (the “Company”), with effective management and operational control over the Company. GNCo is a holding company that owns 100% of High Technology Medical Center University Clinic (“HTMC”), a 450-bed major and well-established referral hospital in Tbilisi, which provides a wide range of in-patient and out-patient services, including the largest department of oncology radiotherapy in Georgia. HTMC is the single largest hospital in Georgia.


The acquisition of this new hospital is consistent with the company’s announced strategy to grow its healthcare services business through targeted hospital acquisitions focusing on Tbilisi. Upon completion of the acquisition, GHG’s portfolio will include 41 healthcare facilities and 2,670 beds across Georgia, further increasing the gap with the nearest competitor and offering increasing number of patients an access to quality healthcare.


“I would like to congratulate our healthcare team on the completion of this substantial transaction, which solidifies our franchise in the capital city. With this acquisition, our healthcare business is very well positioned for its planned international stock market listing in the second half of 2015. Furthermore, our healthcare team will shift its focus from acquisition to integration and organic development mode following this transaction,” commented Irakli Gilauri, Chief Executive Officer of Bank of Georgia Holdings.


“With this acquisition, we have reached another major milestone on the way to realising our strategy of doubling 2015 revenues by 2018. We expect our share by hospital beds to reach 27.4% nationwide and 24.3% in Tbilisi, where average spending and utilisation is substantially higher than in other parts of Georgia. This acquisition will enable us to tap a new segment of patients and we also expect to deliver significant cost synergies over the next few months as we integrate the new hospital. Following this transaction, we will operate 2,670 beds nationwide, with capacity to develop at least an additional 400 beds in Tbilisi as a result of recent acquisitions,” commented Nikoloz Gamkrelidze, Chief Executive Officer, Georgia Healthcare Group.

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Bank of Georgia Holdings PLC – Result of AGM

Bank of Georgia Holdings PLC – Result of AGM

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Bank of Georgia’s healthcare subsidiary acquires a hospital in a prime location in Tbilisi

Bank of Georgia’s healthcare subsidiary acquires a hospital in a prime location in Tbilisi

Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that Georgia Healthcare Group (“GHG”), the Bank’s healthcare subsidiary, has signed binding contract to acquire a 95% equity interest, subject to relevant regulatory approvals, in Deka LLC (“Deka”). Deka owns a hospital with a 350 bed capacity and is located on 2.4 ha. land in a prime location in Tbilisi. Currently c.80 beds are operational and the rest require refurbishment. The acquisition was financed from the proceeds of the BGH capital raise in December 2014. The renovation and development of the acquired hospital capacity is expected to take approximately 12 months and is anticipated to be financed through proceeds from the stock exchange listing of GHG which is planned for later this year.


The acquisition of this new hospital facility is consistent with the company’s previously announced strategy to scale up its healthcare business through targeted acquisitions in Tbilisi. Following this transaction, and planned development of the hospital, GHG’s portfolio will include 40 healthcare facilities and 2,490 hospital beds across Georgia, further widening the gap with the next largest player, by number of beds.


“I would like to congratulate our healthcare team on the completion of the transaction, which is expected to increase our national market share by hospital beds to 25.0% from 22.0% before the acquisition or 14.3% at the beginning of 2014. I am pleased on the continuation of our expansion strategy whilst our healthcare team is also staying focused on integrating our previously acquired healthcare facilities to extract remaining synergies in preparation for the planned stock exchange listing later this year,” commented Irakli Gilauri, Chief Executive Officer of Bank of Georgia Holdings.


“With this acquisition we have completed another milestone towards realising our strategy of doubling 2015 revenue by 2018. Deka is a well-established general hospital that enjoys a historically strong reputation among patients, as it used to service Soviet-elite in Georgia – although the building is currently in need of refurbishment, it attracts strong patient traffic. As a result of this acquisition, we expect to significantly increase our share of the healthcare market nationwide and particularly in Tbilisi, where average spending and utilisation is substantially higher than in other parts of Georgia. Following the acquisition, and once the development works are completed, our market share by hospital beds in Tbilisi will increase from 14.1% to 20.0%. This acquisition will enable us to tap a new geographic segment of patients and offers significant opportunities for cost synergies that our experienced team will work to deliver over the next few months,” commented Nikoloz Gamkrelidze, Chief Executive Officer, Georgia Healthcare Group.

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Bank of Georgia Holdings PLC Q1 2015 results

Bank of Georgia Holdings PLC Q1 2015 results

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Bank of Georgia Holdings PLC notice of 1Q 2015 Results

Bank of Georgia Holdings PLC notice of 1Q 2015 Results

Bank of Georgia Holdings PLC will publish its financial results for 1Q 2015 at 07:00 London time on Wednesday, 20 May 2015. The results announcement will be available on Bank of Georgia Holding's website at www.bogh.co.uk. An investor/analyst conference call, organised by Bank of Georgia Holdings, will be held on Wednesday, 20 May 2015, at 14:00 UK / 15:00 CET / 09:00 U.S. Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

Dial-in numbers: 30-Day replay:
Pass code for replays / Conference ID: 50683003 Pass code for replays / Conference ID: 50683003
International Dial in: +44 (0) 145 2322581 International Dial in: +44 (0) 1452 55 00 00
UK: 08445712364 UK National Dial In: 08717000145
US: 16467412124 UK Local Dial In: 0844 338 6600
Austria: 0800005214 USA Free Call Dial In: 1866 247 4222
Austria: 0800005214
Czech Republic: 800040418
Denmark: 80826036
Finland: 0800773572
France: 0805102177
Germany: 08005893474
Hungary: 0680020176
Ireland: 1800932294
Italy: 800969201
Luxembourg: 80024211
Netherlands: 08000235086
Norway: 80051876
Spain: 800098839
Sweden: 0200883019
Switzerland: 0800002431
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Bank of Georgia completes integration of Privatbank ahead of schedule

Bank of Georgia completes integration of Privatbank ahead of schedule

Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces that the Bank has completed the integration of Privatbank Georgia (“Privatbank”), significantly ahead of schedule.

Following the acquisition of the business in January 2015, the full integration of Privatbank has been completed in under 5 months, compared to our initial estimate of 9-12 months. The information systems of Privatbank have been fully integrated with Bank of Georgia’s core banking software. All the data associated with the customers and transaction histories, including the data of c.800,000 customers of which c.400,000 are active customers, over 1.1 million cards with respective transaction histories, c.150,000 loans and c.75,000 deposits, has been successfully migrated. Privatbank customers continue to use Privatbank cards, which are now serviced by the Bank’s card processing platform, without the need to change them into Bank of Georgia cards. As a result, with only 24 hour downtime for Privatbank clients, the Bank now services all Privatbank customers on its core banking platform on business-as-usual basis.

Privatbank, the 9th largest bank in Georgia by total assets with a focus on retail banking, was a strong strategic fit for the Bank and was acquired in line with BGH’s strategy to strengthen its focus on retail banking. Privatbank’s branch format represented a strong fit for the Bank’s Express branch (self-service) format, and this has enabled the Bank to further expand its Express banking business, which has delivered strong retail growth over the last few years. As a result, 35 Privatbank branches have been rebranded, most of them into Express Banking branches. In order to increase the utilisation of Privatbank’s franchise and realise substantial cost synergies, 58 out of 93 Privatbank branches have been closed, more than initially expected, as the Bank’s Express Terminals have proved attractive for Privatbank customers for their routine banking transactions. The acquisition has added c.400,000, predominantly emerging mass market, customers.

“We are very pleased to have completed the integration of Privatbank well ahead of schedule. I would like to thank and congratulate our integration team for this outstanding result and particularly our first class IT team for their tireless work to
execute the integration flawlessly. We are 6 months ahead of capturing our previously announced pre-tax administrative and funding cost synergies of GEL 25 million. Additionally, Privatbank was focused on a mono-product of an all-in-one debit and credit card, which we further developed in-house and added contactless transport and payment capabilities of our Express Card. We are aiming to leverage the enhanced capabilities of Express Banking, to capture increased revenue from cross-selling banking products to the c.400,000 newly acquired customers,” said Irakli Gilauri, CEO of Bank of Georgia.

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Bank of Georgia signs EUR 40 million loan agreement with EIB

Bank of Georgia signs EUR 40 million loan agreement with EIB

Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces that the Bank has signed a EUR 40 million agreement with the European Investment Bank (“the EIB”). The loan will be used to finance investment projects promoted by Micro & SME companies in Georgia. The loan will support the implementation of projects important for the development of the private sector, as well as undertakings in the areas of social and economic infrastructure, climate change mitigation and adaptation. As a result, the operation is expected to contribute to job creation and maintenance.


The EIB Vice-President Wilhelm Molterer stated: “SMEs are the backbone of the economy and a major focus for the EIB. The EIB loan will contribute to the diversification of the Georgian economy through strengthening the SME sector and helping to develop it into the engine for growth and creation of new employment opportunities with positive impacts on the increase of living standard of Georgia’s citizens and trade and other economic activities”; adding “we appreciate the professionalism of Bank of Georgia, which makes it an excellent partner for the EIB in Georgia”.


“We are very pleased to start cooperation with the European Investment Bank, especially in light of Georgia’s increasing economic and political ties with the EU, which has become the country’s largest trading partner. The Euro’s influence on the Lari has significantly increased in recent years with Lari effectively becoming a Euro proxy, as a result of which we are now focused on raising Euro funding and trying to shift US Dollar loans into Euros. The EUR 40 million loan, earmarked for financing our micro & SME customers, will enable us to further increase our competitiveness in the sector and support growth and job creation” said Irakli Gilauri, CEO of Bank of Georgia.

Background information:
The EIB – the European Union’s bank – finances projects in Georgia on the basis of an EU Council and European Parliament mandate for the countries of the Eastern Neighbourhood. The 2014-2020 Mandate provides for a total amount of Bank financing in the Eastern Neighbourhood of EUR 4.8 billion to support projects of significant interest to both the EU and its Eastern Neighbours in the areas of local private sector development, social and economic infrastructure and climate change. In addition, the Bank has set up a EUR 3 billion Neighbourhood Finance Facility to enhance its support for the Neighbourhood Countries.

The EIB is committed to stepping up its support to Georgia following the signature in June 2014 of the EU and Georgia Association Agreement, which includes a Deep and Comprehensive Free Trade Agreement (AA/DCFTA). This Agreement significantly deepens political and economic ties with the EU in the framework of the Eastern Partnership.

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Bank of Georgia launches Solo - a fundamentally different approach to premium banking

Bank of Georgia launches Solo - a fundamentally different approach to premium banking

Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces that the Bank has launched a new strategy for its premium banking service, Solo - a fundamentally different approach to premium banking. As part of the new strategy, the Bank’s Solo clients are given access to exclusive products and the finest concierge-style environment at our newly designed Solo lounges and are provided with new lifestyle opportunities, such as exclusive events and handpicked lifestyle products. In our Solo lounges, Solo clients are offered, at cost, a selection of luxury products and accessories that are currently not available in the country. Solo clients enjoy tailor-made solutions including new financial products such as bonds, which pay a significantly higher yield compared to deposits, and other securities developed by Galt & Taggart, the Bank’s Investment Banking arm.

“With Solo we are targeting the mass affluent retail segment and aim to build brand loyalty through exclusive experiences offered through the new Solo. We currently have only 8,000 Solo clients and an estimated market share of less than 13% in this segment. We have already opened two new Solo lounges and will increase number of lounges in line with the increasing number of clients. Our goal with the new strategy is to significantly increase our market share in this segment over the next three to four years,” said Irakli Gilauri, CEO of Bank of Georgia.

Solo lounges:


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Bank of Georgia’s real estate subsidiary issues US$20 mln bonds

Bank of Georgia’s real estate subsidiary issues US$20 mln bonds

Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces the successful completion of a US$20 million 2-year bond placement by the Bank’s wholly-owned real estate subsidiary m2 Real Estate. The bond was issued at par and carries a coupon rate of 9.5% payable semi-annually. The deal is expected to close on 20 March 2015. Galt & Taggart, the investment banking subsidiary of Bank of Georgia acted as placement agent for the deal.


“I am delighted that corporate bond issuance in Georgia continues to gain ground under the leadership of Galt & Taggart, in line with our strategy to generate fee and commission income from our banking business. This is the largest ever non-IFI corporate issuance and the third bond placement for m2 Real Estate in less than 12 months. The transaction was met with considerable interest particularly from our wealth management clients who were attracted to high yields on the back of lower deposit rates in Georgia,” commented Irakli Gilauri, CEO of Bank of Georgia.

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Bank of Georgia Holdings PLC announces Q4 2014 and twelve months ended 31 December 2014 results

Bank of Georgia Holdings PLC announces Q4 2014 and twelve months ended 31 December 2014 results

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Bank of Georgia Holdings PLC notice of Q4 2014 and twelve months ended 31 December 2014 Results

Bank of Georgia Holdings PLC notice of Q4 2014 and twelve months ended 31 December 2014 Results

Bank of Georgia Holdings PLC will publish its financial results for Q4 2014 and twelve months ended 31 December 2014 at 07:00 London time on Friday, 20 February 2015. The results announcement will be available on Bank of Georgia Holding's website at www.bogh.co.uk. An investor/analyst conference call, organised by Bank of Georgia Holdings, will be held on, 20 February 2015, at 15:00 UK / 16:00 CET / 10.00 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

Dial-in numbers: 30-Day replay:
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Results of Placing

Results of Placing

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Updated Strategy, Acquisitions and Capital Raising

Updated Strategy, Acquisitions and Capital Raising

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Bank of Georgia Holdings PLC announces Q3 2014 and nine months ended 30 September 2014 results

Bank of Georgia Holdings PLC announces Q3 2014 and nine months ended 30 September 2014 results

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Bank of Georgia Holdings PLC notice of Q3 2014 and nine months ended 30 September 2014 Results

Bank of Georgia Holdings PLC notice of Q3 2014 and nine months ended 30 September 2014 Results

Bank of Georgia Holdings PLC will publish its financial results for Q3 2014 and nine months ended 30 September 2014 at 07:00 London time on Thursday, 6 November 2014. The results announcement will be available on Bank of Georgia Holding's website at www.bogh.co.uk. An investor/analyst conference call, organised by Bank of Georgia Holdings, will be held on Thursday, 6 November 2014, at 14:00 UK / 15:00 CET / 09.00 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

Dial-in numbers:
Pass code for replays / Conference ID: 31258109 International Dial in: +44 (0) 1452 541003
UK: 08448719461
US: 16467412120
Austria: 0316918324
Belgium: 011500193
Czech Republic: 234099936
Denmark: 32711692
Finland: 0923194455
France: 0170700780
Germany: 06922224984
Hungary: 0680018848
Ireland: 015060638
Italy: 0236005628
Luxembourg: 80027953
Netherlands: 0207168005
Norway: 21563298
Spain: 911142116
Sweden: 0856619445
Switzerland: 0445804282
30-Day replay:
Pass code for replays / Conference ID: 31258109
International Dial in: +44 (0) 1452 55 00 00
UK National Dial In: 08717000145
UK Local Dial In: 0844 338 6600
USA Free Call Dial In: 1866 247 4222













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Bank of Georgia signs US$35 million loan agreement with DEG

Bank of Georgia signs US$35 million loan agreement with DEG

Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that the Bank has signed a US$35 million senior loan agreement with Deutsche Investitions und Entwicklungsgesellschaft mbH (“DEG”). The loan bears a maturity of five years and will be used to extend financing to the growing SME sector in the country.

“I’m very pleased to once again join forces with the Bank’s long standing partner DEG and reinforce our commitment to supporting small and medium size enterprises in Georgia. The loan will enable us to enhance access to financing for our SME clients and further increase our competitiveness in the sector,” said Irakli Gilauri, CEO, Bank of Georgia.

"Bank of Georgia and DEG have been partners for almost fifteen years now. We are proud to announce a further long-term financing for our long-time partner, earmarked for its business operations with SME clients. In doing so, we contribute to strengthening the Georgian financial sector and to creating and safeguarding jobs," said Ingrid van Wees, Senior Director Asia/Europe, DEG.

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Bank of Georgia's healthcare subsidiary acquires a new hospital

Bank of Georgia's healthcare subsidiary acquires a new hospital

Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that JSC Evex Medical Corporation (“Evex”), the Bank’s healthcare subsidiary, has acquired 100% equity interest in a 60-bed hospital in Tbilisi providing a wide-range of in-patient and out-patient services with particular expertise in traumatology.
The acquisition of this new hospital is in line with the Bank's previously announced strategy to scale up its healthcare business through targeted hospital acquisitions focusing on Tbilisi. Following the acquisition, the Bank’s healthcare subsidiary has 38 healthcare facilities and 2,140 beds in Georgia.

“I am very pleased to announce one more important acquisition, which further strengthens our healthcare franchise in the capital city. I would like to congratulate our healthcare team on the completion of the transaction, which increases our national market share by hospital beds to 22.5% from 14.3% at the beginning of the year,” commented Irakli Gilauri, Chief Executive Officer of Bank of Georgia.

“The addition of another leading hospital complements our current portfolio of healthcare facilities in Tbilisi, enabling us to tap a new segment of patients and offering significant opportunities for cost synergies that our experienced team will work to deliver over the next few months,” commented Murtaz Kikoria, Chairman of the board of directors, Evex.

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Bank of Georgia receives EUR 15 million from Green for Growth Fund

Bank of Georgia receives EUR 15 million from Green for Growth Fund

Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces that the Bank has received a EUR 15 million senior loan facility from Green for Growth Fund (“GGF”). The GGF loan will initially go towards financing energy efficient construction projects in Tbilisi, which will result in primary energy savings of more than 20% for energy compared to conventional buildings. This is the first loan extended in Georgia by GGF Southeast Europe.

“We are very pleased to get started in Georgia through a partnership with the market leader who is also investing in the development of energy efficient apartments and firmly committed to promoting energy efficient projects in Georgia. We are confident this deal will stimulate additional energy efficient market initiatives and significantly contribute towards achieving more energy savings in the country,” said Christopher Knowles, Chairman of the Green for Growth Fund, Southeast Europe.

“Supporting environment friendly programmes has been at the heart of our group’s sustainability agenda for a number of years. We are continuously improving our range of products and services to take into account our environmental footprint. We are therefore delighted to be joining efforts GGF to achieve enhanced energy efficiency in Georgia,” said Irakli Gilauri, CEO of Bank of Georgia.

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Bank of Georgia's leasing subsidiary announces issuance of its debut bonds in Georgia

Bank of Georgia's leasing subsidiary announces issuance of its debut bonds in Georgia

Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces the successful closing of a US$10 million 3-year bond placement by the Bank’s wholly-owned leasing subsidiary Georgian Leasing Company LLC (GLC). The bond was issued at par and carries a coupon rate of 8.75%* payable semi-annually. Galt & Taggart, investment banking subsidiary of Bank of Georgia acted as placement agent for the deal.

“With its third local bond issue this year, I am pleased that our investment banking business - Galt and Taggart, continues to be at the forefront of the capital market development in Georgia. This transaction was met with considerable interest particularly from our wealth management clients who were attracted to high yields on the back of declining deposit rates on the market. I would like to congratulate both GLC and Galt and Taggart teams for the successful completion of this transaction,” commented Irakli Gilauri, CEO of Bank of Georgia.
*5% withholding tax applies to individuals

About Georgian Leasing Company (GLC)
GLC offers high quality leasing services in various business segments including transport, services and construction. The company’s main customers are small and medium-sized enterprises. GLC was the first company in Georgia to offer leasing services as an alternative method of financing to bank loans and was also the first company in the market to introduce products with a range of leasing terms (3 to 7 years).

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Bank of Georgia announces changes to its Board of Directors

Bank of Georgia announces changes to its Board of Directors

Bank of Georgia announces rebranding of BG Capital into Galt & Taggart

Bank of Georgia announces rebranding of BG Capital into Galt & Taggart

Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that JSC BG Capital (“BG Capital”), the Bank’s brokerage arm has been renamed to JSC Galt & Taggart (“Galt & Taggart”). This move aims at bringing together the existing wealth advisory and research products and corporate advisory services under one roof with the consistent branding of the Bank of Georgia group’s corporate advisory, private equity, wealth management, brokerage and research businesses. The expansion of the Bank’s Investment Management business is aimed at enhancing the Bank’s fee generating businesses on the back of the increasing investor interest in the growing economies of the region. Galt & Taggart will operate under the Bank’s Investment Management business headed by Archil Gachechiladze, Deputy CEO of the Bank and the Chairman of Galt & Taggart.



“I am very excited about our prospects of establishing a full service Investment Management business building upon both our pioneering success in our wealth management and research services as well as the most extensive coverage of the corporate client base in Georgia. As the largest bank in the country with unique insight into the regional market and solid international investor base, we are well positioned to help investors explore investment opportunities and offer local and regional companies greater access to both equity and debt capital markets. Archil brings more than 10 years of banking experience, including in corporate banking and wealth management businesses in Georgia and private equity business internationally and, I trust, he is the right leader to spearhead Galt & Taggart’s business development efforts,” commented Irakli Gilauri, Chief Executive Officer of Bank of Georgia.

“Investment management has become one of the key strategic directions in line with the evolving needs of our corporate client base that now increasingly require more sophisticated financials solutions and advisory services and the growing interest from international investor base seeking information and access to the regional markets. I am sharing my excitement with the entire Galt & Taggart team, which is made up of dedicated and talented professionals in their respective fields, as we embark on building a firm that is to play an important role both in the Bank’s progress and as well as the Georgia’s capital markets development. Through Galt & Taggart we plan to be at the forefront of this process,” commented Archil Gachechiladze Deputy CEO of the Bank and Chairman of Galt & Taggart.

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Bank of Georgia Holdings PLC Half-Year Results 2014

Bank of Georgia Holdings PLC Half-Year Results 2014

Bank of Georgia Holdings PLC (LSE: BGEO LN), the holding company of Georgia’s leading bank JSC Bank of Georgia (the “Bank”) and its subsidiaries (the “Group”), announced today the Group’s 1H 2014 and Q2 2014 consolidated results reporting a record half-year profit for 1H 2014 of GEL 112.0 million (US$63.3 million/GBP 37.2 million) and record earnings per share of GEL 3.15 (US$1.78 per share/GBP 1.05 per share). The Bank also reported Q2 2014 profit of GEL 58.3 million (US$33.0 million/GBP 19.4 million), or GEL 1.64 per share (US$0.93 per share/GBP 0.54 per share). Unless otherwise mentioned, comparisons are with the first half of 2013. The results are based on IFRS, are unaudited and derived from management accounts.

  • Strong profit momentum maintained
    • Net Interest Margin (NIM) of 7.3%, compared to 7.8% in 1H 2013
      • Q2 2014 NIM of 7.3%, compared to 7.9% in Q2 2013 and 7.4% in Q1 2014
    • Revenue increased by 7.3% y-o-y to GEL 281.5 million in 1H 2014
      • Q2 2014 revenue of GEL 144.2 million, up 3.2% y-o-y and 5.0% q-o-q.
    • Cost to Income ratio stood at 43.8% in 1H 2014 compared to 41.7% in 1H 2013
      • Q2 2014 Cost to Income ratio stood at 44.6% compared to 39.9% in Q2 2013 and 43.0% in Q1 2014
      • Profit for 1H 2014 increased to GEL 112.0 million, up 17.7% y-o-y
        • Profit increased to GEL 58.3 million in Q2 2014, up 9.8% y-o-y and up 8.7% q-o-q
        • Earnings per share (EPS) increased by 16.7% to GEL 3.15 in 1H 2014 compared to GEL 2.70 in 1H 2013
          • Q2 2014 EPS stood at GEL 1.64, up 8.6% on both a y-o-y and q-o-q basis
        • Return on Average Assets (ROAA), adjusted for impairment* stood at 3.5% in 1H 2014 largely flat on a year-on year basis
          • ROAA, adjusted for impairment stood at 3.7% in Q2 2014, compared to 3.8% in Q2 2013 and 3.3% in Q1 2014
        • Return on Average Equity (ROAE), adjusted for impairment stood at 18.7% in 1H 2014, compared to 17.6% in 1H 2013
          • ROAE, adjusted for impairment stood at 19.7% in Q2 2014 compared to 19.3% in Q2 2013 and 17.7% in Q1 2014
      • Balance sheet strength supported by solid capital and liquidity positions and declining Cost of Funding
        • Net loan book increased by 17.2% y-o-y (up 4.9% q-o-q), while client deposits increased by 7.4% yo-y (up 0.3% q-o-q)
        • Cost of Client Deposits decreased to a record low of 4.4% in 1H 2014 from 6.2% in 1H 2013. Q2 2014 Cost of Client Deposits stood at 4.3% down from 5.9% in Q2 2013 and 4.6% in Q1 2014. Loan Yields also declined to 14.7% from 16.9% in 1H 2013. Quarterly loan yields stood at 14.5% in Q2 2014 compared to14.9% in Q1 2014 and 17.0% in Q2 2013
        • Cost of credit risk improved significantly in 1H 2014 to GEL 27.2 million from GEL 36.3 million in 1H 2013. This represents an annualised Cost of Risk ratio of 1.0%
        • High liquidity maintained with 27.6% of total assets made up of cash and cash equivalents, amounts due from credit institutions, the NBG CDs, Georgian government treasury bills and bonds and other high quality liquid assets as of 30 June 2014. Liquidity ratio, as per National Bank of Georgia (NBG) requirements, stood at 38.1% against the regulatory minimum of 30%
        • As of 30 June 2014, Net Loans to Customer Funds and DFI ratio stood at a healthy level of 100.3% compared to 96.2% as of 31 December 2013 and 96.4% as of 31 March 2014. The Net Loans to Customer Funds ratio stood at 119.0% compared to 113.0% as of 31 December 2013 and 113.8% as of 31 March 2014
        • BIS Tier I capital adequacy ratio stood at 22.5% compared to 22.9% a year ago.
        • NBG (Basel 2/3) Tier I capital adequacy ratio stood at 10.8% as at 30 June 2014 compared to 13.1% as at 31 December 2014 (see Annex I on page 44 for more information)
        • Book value per share increased by 13.1% y-o-y to GEL 34.95 (US$19.76/GBP 11.61)
        • Balance Sheet leverage remained largely flat y-o-y at 4.3 times
      • Business highlights
        • Retail Banking continues to deliver strong franchise growth, supported by the Express Banking strategy, adding 2,038 Express Pay Terminals and 613,159 Express Cards since the launch of the Express Banking service. Retail Banking’s net loan book grew 21.4% y-o-y and stood at GEL 1,754.2 million, while client deposits increased by 22.5% y-o-y to GEL 1,134.2 million
        • Corporate Banking’s net loan book growth rate picked up in Q2 2014, increasing by 8.1% y-o-y to GEL 1,802.8 as of 30 June 2014. Corporate Banking Cost of Deposits decreased markedly from 5.5% in 1H 2013 to a record low 3.0% in 1H 2014
        • Investment Management’s Assets under Management (AUM*) increased by 15.9% y-o-y to GEL 901.0 million as of 30 June 2014. Since the launch of the Certificate of Deposit (CD) programme in January 2013, the volume of CDs issued reached GEL 314.0 million, as of 30 June 2014
        • The Group’s insurance and healthcare business reported GEL 11.1 million profit (GEL 11.4 million in 1H 2013). The Group’s healthcare business reported a GEL 6.2 million 1H 2014 profit (GEL 2.5 million in 1H 2013) and expanded its healthcare business through acquisitions to 36 healthcare facilities and 1,892 hospital beds. The market share of the Group’s healthcare business grew from 14.3% as of 31 December 2013 to 19.9% as of 30 June 2014 in terms of hospital beds, while the health insurance business of the Group accounted for 37.6% of the total health insurance sector of Georgia based on gross premiums written as of 31 March 2014, compared to 31.1% as of 31 December 2013
        • Affordable Housing completed its second housing project and the construction of two new housing projects is underway. Net profit from the Bank’s Affordable Housing business totalled GEL 6.2 million in 1H 2014, reflecting the recognition of major part of the revenue from the completed second project

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      Bank of Georgia announces the reorganisation of Aldagi into pure play healthcare and P&C insurance businesses

      Bank of Georgia announces the reorganisation of Aldagi into pure play healthcare and P&C insurance businesses

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that JSC Insurance Company Aldagi (“Aldagi”), the Bank’s insurance and healthcare subsidiary, has been split into two separate business units – a pure-play healthcare business that will provide healthcare services and health insurance products in Georgia, and a pure-play property and casualty insurance business that will provide life and non-life insurance products in Georgia. The Bank will shortly establish JSC Georgia Healthcare Group (“GHG”) which will own the healthcare business. This reorganisation is in accordance with the Bank’s previously announced strategy to capitalise on the growth opportunities in the healthcare industry in Georgia and ultimately realise value for the Bank’s investment in its healthcare operations. The Bank’s segmental reporting, which will be disclosed in its 1H 2014 financial results, will not be altered as a consequence of this reorganisation.

      Alongside the reorganisation, the two business units will undergo branding changes. The Aldagi brand will now only be used by the P&C insurance business, and the health insurance business was renamed Imedi L, reviving the brand name that Aldagi acquired in May 2012. The Imedi L brand retains a strong reputation in the Georgian health insurance sector which can now be further capitalised upon. Additionally, the healthcare services business, which consists of My Family Clinic (a 749 hospital bed company) and Unimed (a 1,143 hospital bed company), has been rebranded as Evex Medical Corporation. The rebranding exercise is in accordance with the Group’s strategy to establish independent and unified branding for its healthcare services business.

      “I am pleased to announce this reorganisation, following which we have created two pure-play businesses – a healthcare business, and a P&C insurance business, both of which we believe will be able to deliver an increasingly focused customer approach and strengthen our leading position in the market. I want to congratulate both teams with the completion of the reorganisation,” commented Irakli Gilauri, Chief Executive Officer of Bank of Georgia.

      “As a pure-play healthcare business we are now better positioned to build on our leading position in the rapidly growing Georgian healthcare market. We aim to capitalise on the growth opportunities arising from recent healthcare reform and expect to deliver greater synergies between our healthcare facilities and health insurance businesses,” commented Murtaz Kikoria, Chief Executive Officer of Georgia Healthcare Group.

      “As a P&C insurance company, we aim to deliver a more focused customer approach across our products and services. We also plan to extract more synergies by focusing efforts on cross-selling our insurance products with the Bank’s Retail Banking, Corporate Banking and Investment Management products.” commented Giorgi Baratashvili, Chief Executive Officer of Aldagi.

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      Bank of Georgia raises US$25 million Trade Finance Club Facility

      Bank of Georgia raises US$25 million Trade Finance Club Facility

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that the Bank has closed a US$25 million one-year Trade Finance Club Facility with Citi. The facility will allow the Bank to support the growth of its trade finance portfolio and further strengthen its leading position in the corporate banking sector. This is the first Trade Finance Club Facility arranged by Citi for a Georgian bank.

      “We are delighted to be one of the first companies in the region to take advantage of the Trade Finance Club facility with Citi. The new facility is intended to meet the evolving needs of our diverse corporate client base and to reinforce our competitive advantage in the market”, said Irakli Gilauri, Bank of Georgia CEO. “I would like to thank Citi for a fruitful collaboration with our Trade Finance team and successful completion of the transaction.”

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      Bank of Georgia signs a US$20 million trade finance loan agreement

      Bank of Georgia signs a US$20 million trade finance loan agreement

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that the Bank has signed a US$20 million trade finance loan agreement with Turk Eximbank, the only official Export Credit Agency of Turkey to extend financing to Georgian companies that import Turkish consumer and capital goods to Georgia. The facility will enable both Bank of Georgia and Turk Eximbank to offer the Bank’s corporate clients efficient, high quality solutions to diversify financing sources and benefit from growing trade flows between Turkey and Georgia.

      For less than 2 year maturity contracts, financing from Turk EximBank to the Bank may be extended to 100% of contract value and financing for longer maturities up to 7 years will be capped to 85%.

      “The US$20 million trade finance facility will further strengthen our leading market position in trade finance services and will allow our corporate clients to tap business opportunities arising from long standing economic partnership between Georgia and Turkey,” said Nikoloz Gamkrelidze, Bank of Georgia Deputy CEO.

      “As one of the few Export Credit Agencies around the world that can provide both insurance/guarantee and direct lending, Turk Eximbank will encourage Turkish and Georgian companies to promote trade relations by extending short term and medium term loans with competitive costs, and will be able to provide 100% financing for short term loans with maturity of less than 24 months” stated Hayrettin Kaplan, General Manager of Turk Eximbank.

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      Bank of Georgia Investor Day and BG Capital Conference Agenda

      Bank of Georgia Investor Day and BG Capital Conference Agenda

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      Bank of Georgia Investor Day and Equity Bond Conference

      Bank of Georgia Investor Day and Equity Bond Conference

      Dear All,

      Further to our invitation to participate in Bank of Georgia Investor Day on 5 September 2014, we would like to inform you that the event will be held in Tbilisi, Georgia not in Batumi as previously announced. Bank of Georgia Investor day will feature presentations from our management team detailing Bank of Georgia Group’s strategic direction followed by site visits to branches and healthcare facilities. A detailed agenda and registration details will be provided in the near future.

      We would also like to invite you to an Equity and Bond Conference organised by our wholly-owned subsidiary BG Capital, which will be held in Tbilisi Georgia on 4 September 2014. The BG Capital Equity & Bond conference will cover economic developments in Georgia and Azerbaijan, potential for new placements and facilitate a dialogue between potential regional bond and equity issuers and the investor community.

      BG Capital Equity & Bond Conference will include:

      Corporate Access
      One-on-one and group meetings with corporate bond and equity issuers. The bank’s private equity team and real estate representatives will also be available for discussions.

      Panel Session
      BG Capital led discussions on regional themes including investment opportunities and economic outlook. Other panel participants will include invited government officials and prominent private sector representatives from Georgia and Azerbaijan.

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      Bank of Georgia receives EUR 18.5 million loan from EFSE

      Bank of Georgia receives EUR 18.5 million loan from EFSE

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that the Bank has received a EUR 18.5 million senior loan from the European Fund for Southeast Europe (EFSE). The loan is expected contribute to expanding the Micro and Small Enterprise (SME) lending of the Bank.

      “With more than 20% of its business loan portfolio dedicated to Micro, Small and Medium Enterprises (MSME), and one of the largest branch networks in the country reaching small entrepreneurs, Bank of Georgia is a significant player in the microfinance segment in the country, hence an excellent partner for the EFSE,” says Monika Beck, Chairperson of the Board of the EFSE. “We are pleased to further expand our yet excellent partnership and to jointly work on reaching the EFSE’s goal to foster economic development and prosperity in its target regions.”

      “I am delighted to join forces with EFSE to finance the micro and small enterprise businesses, which represent one of the most important contributors to the economic growth and job creation in Georgia. This facility, as well as increasing our competitive position in the micro and small enterprise sector also reinforces our commitment to supporting small businesses in the country”, commented Irakli Gilauri, CEO of Bank of Georgia.

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      Bank of Georgia’s real estate subsidiary issues bonds and completes its largest project

      Bank of Georgia’s real estate subsidiary issues bonds and completes its largest project

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that its real estate subsidiary JSC m2 Real Estate (“m2RE”) has completed construction of its largest project to date. The project, which comprises 522 residential apartments with a total buildable area of 63,247 square metres has been completed four months ahead of schedule. 97% of apartments has been sold with more than a third financed through the Bank’s mortgages (worth c. GEL 22 million) stimulating our mortgage lending business.

      m2RE also announces successful closing of the US$10 million 1-year bond placement by JSC m2 (Bank’s another real estate subsidiary, managed by m2RE). The bond was issued at par and carries a coupon rate of 8.42%* payable upon maturity. This is the second bond offering by m2 this month. A 1-year US$5 million bond with a 9.5%* coupon rate was issued in the beginning of June. BG Capital, wholly-owned brokerage subsidiary of the Bank acted as the placement agent for the deal.

      “We are delighted to have completed our largest project to date and to have issued our second bond in a month, which like the previous bond issuance was met with considerable interest driving down the yield from 9.5% to 8.42%. We now have two completed projects in our portfolio, two more projects currently under construction and we are actively working towards launching more projects in the nearest future,” commented Irakli Burdiladze, Chairman of m2RE.

      “I would like to congratulate the Investment Management team for successfully placing the issuance. The team demonstrated its significant placement power by building the book in less than three hours. The demand was primarily driven by international and local wealth management clients. I am also pleased that we have offered high yielding product to our wealth management clients on the back of deposit rate cuts. The yield on m2 bonds is significantly higher than the deposit rates currently offered on the market”, commented Irakli Gilauri, CEO of Bank of Georgia

      * 5% withholding tax applies to individuals

      About m2 and m2 Real Estate www.m2.ge
      The Bank’s wholly-owned subsidiary m2 develops residential property on real estate assets previously repossessed by the Bank, outsources the construction and architectural works while focusing on project management and sales. The real estate business is in place to meet the unsatisfied demand for housing while stimulating the Bank’s mortgage lending business. m2 has completed its second housing project of a 522 apartment building with a total buildable area of 63,247 square meters and has recently commenced construction of another two residential projects.

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      Dividend Announcement

      Dividend Announcement

      On 28 May 2014, the shareholders of Bank of Georgia Holdings PLC (the Company) (LSE: BGEO LN), the holding company of JSC Bank of Georgia (the Bank), Georgia's leading bank, approved the declaration of a final dividend of Georgian Lari 2.0 per share in respect of the year ended 31 December 2013, payable to ordinary shareholders of the Company in British Pounds Sterling pursuant to the following timetable:

      Ex-Dividend Date:                         4 June 2014

      Record Date:                                  6 June 2014

      Currency Conversion Date:           9 June 2014

      Payment Date:                               18 June 2014

          

      The Company hereby confirms that the National Bank of Georgia Georgian Lari/British Pounds Sterling exchange rate as of 9 June 2014 is 2.9815 and shall be used to pay dividends to ordinary shareholders of the Company on 18 June 2014.

      Those shareholders who have not provided their appropriate bank account details to Computershare Investor Services PLC for payment of the dividend will be paid the dividend by cheque in British Pounds Sterling.

      Name of authorised official of issuer responsible for making notification: Kate Bennett Rea, Company Secretary

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      Bank of Georgia’s real estate subsidiary announces issuance of its debut bonds in Georgia

      Bank of Georgia’s real estate subsidiary announces issuance of its debut bonds in Georgia

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces the successful closing of the US$5 million 1-year bond placement by JSC m2 (“m2”), its wholly-owned subsidiary managed by JSC m2 Real Estate, another wholly owned subsidiary of the Bank (“m2RE”). This was m2’s first ever bond offering in Georgia. The bond was issued at par and carries a coupon rate of 9.5%* payable upon maturity. The placement lasted three weeks and left US$3 million demand unmet.

      m2 also intends to launch second bond offering by mid June 2014.

      “We are delighted to have completed this landmark transaction, which was met with great interest from both international and local investors. The proceeds will be used to finance our housing projects and offer apartments in the country where demand for housing remains robust. I would like to also note that this transaction marks successful diversification of our funding sources, as previous real estate projects carried out by m2RE, were primarily funded by international financial institutions. We are looking forward to launching our next project that will be financed by this inaugural bond placement,” commented Irakli Burdiladze, Chairman of m2.

      “I am pleased to note that Bank of Georgia group continues to be at the forefront of Georgia’s still nascent corporate bond market. The strong demand for m2 issued securities in Georgia reflects the strength of m2 brand has built over the past four years. The demand for m2 bonds was primarily driven from private banking and mass affluent client base. We believe offering the new instrument (which is 400 bps higher than deposits rates currently offered by our competitors) to high-end retail clients will be the key competitive advantage to strengthen our position in this segment. I would like to congratulate entire team that worked on this important transaction, which quite pleasingly, provides an opportunity for our clients and investors to benefit from our housing development projects, which yield IRR of approximately 40%”, commented Irakli Gilauri, CEO of Bank of Georgia

      For inquiries please contact BG Capital by Friday, 6 June 2014 via email at st@bgcap.ge. Investment Management/Private Banking clients can contact their Private Banker or email to wm@bog.ge

      *Coupon rate of 9.025 % p.a. after 5% withholding tax applied to individuals

      About m2 and m2 Real Estate www.m2.ge
      The Bank’s wholly-owned subsidiaries m2 and m2 Real Estate develop residential property on real estate assets previously reposed by the Bank, outsource the construction and architectural works while focusing on project management and sales. The real estate business is in place to meet the unsatisfied demand for housing while stimulating the Bank’s mortgage lending business. m2 Real Estate is nearing the completion of its second housing project of a 522 apartment building with a total buildable area of 63,247 square meters and has recently commenced construction of another two residential projects.

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      Result of AGM

      Result of AGM

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      Bank of Georgia's healthcare subsidiary acquires new hospital capacity

      Bank of Georgia's healthcare subsidiary acquires new hospital capacity

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that the wholly-owned healthcare subsidiary of JSC Insurance Company Aldagi (“Aldagi”), the Bank’s wholly-owned healthcare and insurance subsidiary, has acquired a 100% equity interest in Sunstone Medical LLC, which owns a hospital in East Tbilisi with an estimated total development capacity of 300 beds. The property, which is a long-established and well-known hospital in Tbilisi that hasn’t been operational for several years, will provide Aldagi with a competitive advantage in tapping into the East Tbilisi patient segment, as well as referrals from East Georgia.


      The acquisition of the hospital, as well as the acquisition in December 2013 of a 60 bed high-end, multi-specialty hospital in Tbilisi and the acquisition in March 2014 of Avante Hospital Management Group with four hospitals and 578 beds and a strong position in paediatric and maternity care, is consistent with the company’s previously announced strategy to scale up its healthcare business through targeted hospital acquisitions focusing on Tbilisi. Following the acquisition and anticipated development of the new hospital, Aldagi would have 37 healthcare facilities and 2,207 hospital beds in Georgia, representing a market share of approximately 23% in terms of hospital beds.


      “I am very pleased to continue the year with this strategic acquisition which complements our current portfolio of clinics in Tbilisi and is in line with our strategic objective to further enhance our Georgian healthcare market share”, commented Irakli Gilauri, Chief Executive Officer of Bank of Georgia.


      “We expect to deliver significant synergies, increase our share of the healthcare market in Georgia, and enlarge our healthcare business in the capital city of Georgia as a result of this acquisition. Following conclusion of the transaction, we will commence the renovation of the hospital – expected in the coming weeks – with a target of developing a new 300 bed facility that will serve East Tbilisi and East Georgia”, commented Murtaz Kikoria, Chief Executive Officer, Aldagi.

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      Bank of Georgia Holdings PLC Q1 2014 Results

      Bank of Georgia Holdings PLC Q1 2014 Results

      Bank of Georgia Holdings PLC (LSE: BGEO LN) (the “Bank”), the holding company of JSC Bank of Georgia and its subsidiaries, Georgia’s leading bank, announces today the consolidated results for the quarter ended 31 March 2014. The Bank reported Q1 2014 profit of GEL 53.7 million (US$30.7 million/GBP 18.5 million), or GEL 1.51 per share (US$0.86 per share/GBP 0.52 per share). Unless otherwise mentioned, all comparisons refer to Q1 2013 results.

      Strong profit momentum maintained

      • Net Interest Margin (NIM) of 7.3%, compared 7.6% in Q1 2013
      • Revenue increased by GEL 14.5 million, or 11.8% y-o-y, to GEL 137.5 million
      • Positive operating leverage maintained at 1.9 percentage points in Q1 2014
      • Cost to Income ratio improved to 43.1% compared to 43.8% in Q1 2013
      • Profit for the period increased to GEL 53.7 million, up 27.8% y-o-y
      • Earnings per share (basic) increased by 26.9% to GEL 1.51 compared to GEL 1.19 in Q1 2013 
        Return on Average Assets (ROAA) stood at 3.3% in Q1 2014 compared to 3.1% in Q1 2013
      • Return on Average Equity (ROAE) stood at 17.7% in Q1 2014, compared to 15.9% in Q1 2013

      Balance sheet strength supported by solid capital and liquidity positions and declining Cost of Funding

      • Net loan book increased by 18.1% y-o-y (down 1.0% q-o-q), while client deposits increased by 8.2% y-o-y (down 2.3% q-o-q)
      • Cost of Client Deposits decreased to a record low of 4.6% in Q1 2014 from 4.8% in Q4 2013 and 6.4% in Q1 2013. Loan Yields also declined to 14.8% from 16.9% in Q1 2013 and 15.6% in Q4 2013. 
      • Cost of credit risk improved significantly in Q1 2014 to GEL 13.3 million from GEL 17.3 million in Q1 2013
      • High liquidity maintained with 29.6% of total assets made up of cash and cash equivalents, amounts due from credit institutions, NBG CDs, Georgian government treasury bills and bonds and other high quality liquid assets as of 31 March 2014. Liquidity ratio, as per National Bank of Georgia (NBG), stood at 43.5%, compared to 44.1% a year ago
      • As of 31 March 2014 the Net Loans to Customer Funds and DFI ratio stood at 96.4% compared to 96.2% as of 31 December 2013 and 85.2% as of 31 March 2013. The Net Loans to Customer Funds ratio stood at a healthy level of 113.8% compared to 113.0% as of 31 December 2013 and 104.9% as of 31 March 2013.
      • BIS Tier I capital adequacy ratio stood at 23.8% compared to 23.2% a year ago.
      • Book value per share increased by 13.9% y-o-y to GEL 34.35 (US$20.23/GBP 12.17)
      • Balance Sheet leverage remained largely flat y-o-y at 4.1 times

      Business highlights

      • Retail Banking continues to deliver strong franchise growth, supported by the successful roll-out of the Express Banking strategy, adding 1,423 Express Pay Terminals and 513,707 Express Cards since the launch of the Express Banking service. Retail Banking’s net loan book grew 21.1% and client deposits 24.9% y-o-y.
      • Corporate Banking’s net loan book increased 7.8% to GEL 1,715.5 but decreased 5.7% q-o-q. Corporate Banking Cost of Deposits decreased markedly from 5.7% in Q1 2013 to 3.2% in Q1 2014.
      • Investment Management’s Assets under Management (AUM) increased by 14.5% y-o-y to GEL 702.7 million as of 31 March 2014. Since the launch of the Certificate of Deposit (CD) programme in January 2013, the amount of CDs issued to Investment Management clients reached GEL 239.0 million, as of 31 March 2014
      • The Group’s insurance and healthcare business, reported GEL 6.0 million Q1 2014 profit, up 14.6% yo-y and expanded its healthcare business through acquisitions, adding 578 hospital beds to a total of 1,907
      • Affordable Housing’s second housing project is near completion and the construction of two new housing projects is underway. Net profit from the Bank’s affordable housing business totalled GEL 4.2 million in Q1 2014, reflecting the partial recognition of revenue from its second project as it nears completion.

      “I am pleased with the Bank’s continued progress in the first quarter 2014 and its ability to report strong results in the seasonally quiet first quarter of the year. Our profit of GEL 53.7 million in Q1 2014 increased by 27.8% year on year, driven by positive operating leverage of 1.9% during the quarter and improving cost of risk compared to the same period last year. Asset quality improvements have translated into a reduced cost of risk of 1.0% compared to 1.4% in the first quarter last year.

      The revenue growth reflected strong growth in net interest income, up 9.8% year-on-year, as a result of an 18.1% increase in customer lending over the last 12 months; a more than doubling of net healthcare revenues and a strong performance from the Bank’s Affordable Housing businesses. The net interest margin at 7.3% was slightly lower than last year, partly reflecting the cost of excess liquidity as well as the margin pressure on loans amid increased competition for credit - but remains within our medium-term target of 7.0-7.5%.

      The 19.6% asset growth was primarily driven by the 18.1% increase of the loan book. Our client deposit balances increased by 8.2% despite the substantial reduction of deposit rates to the lowest levels that are now offered on the Georgian market. As a result, our Cost of Client Deposits has reached another historical low of 4.6%, which compares to 4.8% in Q4 2013 and 6.4% in the first quarter of last year. The significant efforts we made to improve our Cost of Funding, which is down 160 bps to 5.1% in Q1 2014, have supported our NIM. The Q1 2014 NIM of 7.3% declined by 30 bps on the back of 210 bps reduction on Loan Yields.

      I would also like to note the robust performance of our synergistic businesses. Our healthcare business started the year with several acquisitions that have further strengthened our healthcare franchise through the addition of 578 hospital beds to a total of 1,907 and significantly increased our market share in terms of hospital beds. Our healthcare business doubled its revenue compared to Q1 2013, however, the effects of recent acquisitions have not yet been fully reflected in Q1 2014 results as the integration process of the new hospitals has just started. Our real estate business is nearing the completion of its second project, having sold 96% of apartments as of today. More than half of flats with an aggregate worth of US$24.4 million in two new projects commenced by m2 Real Estate in December 2013 have already been sold.

      With current excess liquidity and our solid capital level, we believe we are strongly positioned to benefit from the continuation of macro-economic improvement in 2014, for which IMF estimates a 5.0% growth. We are looking forward to continue delivering on our targets for the full year on the back of the encouraging 7.4% estimated real GDP growth in Q1 2014,” commented Irakli Gilauri, Chief Executive Officer of Bank of Georgia Holdings PLC and JSC Bank of Georgia.

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      Notice of Q1 2014 Results

      Notice of Q1 2014 Results

      Bank of Georgia Holdings PLC will publish its financial results for Q1 2014 at 07:00 London time on Friday, 9th May 2014. The results announcement will be available on Bank of Georgia Holding's website at www.bogh.co.uk. An investor/analyst conference call, organised by Bank of Georgia Holdings, will be held on Friday, 9 May 2014, at 13:00 UK / 14:00 CET / 08.00 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

      Dial-in numbers :                                                                       30-Day replay:

      Pass code for replays / Conference ID: 44156024                   Pass code for replays / Conference ID: 44156024

      UK: +44 (0) 1452 555 566                                                                International Dial in: +44 (0) 1452 55 00 00

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      Spain: +34 9141 436 69

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      Switzerland (Geneva): +41 (0) 565 800 007

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      Notice of Annual General Meeting

      Notice of Annual General Meeting

      Bank of Georgia Holdings PLC (the Company) (LSE: BGEO LN) announces that its Notice of Meeting for its 2014 Annual General Meeting is available to view on the Company's website at www.bogh.co.uk. A copy of the Notice of Meeting has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/nsm.

      Printed copies of the Notice of Meeting will be sent to shareholders on or around today, 28 April 2014.

      The Company's Annual General Meeting will be held on Wednesday, 28 May 2014 at 10.00 am at Freshfields Bruckhaus Deringer LLP, 65 Fleet Street, London EC4Y 1HS.

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      Bank of Georgia buys out minority shareholder of My Family Clinic

      Bank of Georgia buys out minority shareholder of My Family Clinic

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”) Georgia’s leading bank, announces that JSC Insurance Company Aldagi (“Aldagi”), the Bank’s insurance and healthcare subsidiary, has completed a buy-out of a 49% minority shareholder of its healthcare subsidiary My Family Clinic (“MFC”). Aldagi has held a 51% controlling interest in MFC since December 2011. Following the transaction, Aldagi’s healthcare business consists of its wholly-owned subsidiary My Family Clinic (with 749 hospital beds in Georgia) and wholly-owned subsidiary Unimed (with 1,158 hospital beds in Georgia), both of which are leading healthcare providers in the country.

      “I am pleased to announce this buy-out. The acquisition of the remaining stake in MFC will allow us to proceed with the integration of MFC and Unimed, extracting synergies and further strengthening Aldagi’s position in the Georgian healthcare market. The buy-out of a 49% minority shareholder of MFC gives us flexibility in executing our growth strategy and an opportunity to expand our regional footprint through investments into development projects via MFC” commented Murtaz Kikoria, Aldagi CEO.

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      Bank of Georgia Announces Appointment of Deputy CEO

      Bank of Georgia Announces Appointment of Deputy CEO

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that Sascha Ternes has been appointed as Deputy CEO of the Bank in charge of special projects.

      “I am excited to welcome Sascha to our team. Sascha’s background encompasses in-depth experience in senior executive positions across a wide range of countries and I look forward to the contributions he will make in his new role,” commented Irakli Gilauri, Chief Executive Officer.

      Prior to joining Bank of Georgia, Sascha was the member of management board of ProCredit Bank Georgia from 2007, where he initially served as CFO and then as CEO. Prior to joining ProCredit, he held executive positions for 13 years in a German Technology Group which focused on international development and investment, where he was responsible for the implementation and supervision of numerous operations in 10 countries, including assignments to Central and Eastern Europe and the Middle East. A citizen of Germany, Sascha has a background in finance and business administration and volunteers as a Board Member of the German Business Association in Georgia and Armenia as well as a Founder and Chairman of the Board of the German International School Tbilisi. Sascha holds a honorary doctorate, affirmed by the German Ministry of Education & Science.

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      Bank of Georgias brokerage subsidiary places EBRD bonds

      Bank of Georgias brokerage subsidiary places EBRD bonds

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that BG Capital, the Bank’s the wholly-owned brokerage subsidiary, jointly with TBC Bank, the second largest Bank in Georgia, has lead-managed and underwritten a Georgian Lari (“GEL”) denominated bond issued by the European Bank for Reconstruction and Development (“EBRD”). The two-year bond totalling GEL 50 million (EUR 20.7 million) is the first-ever issue by an international financial institution in GEL. The transaction is also the first bond placed by the foreign issuer in Georgia and represents the first floating rate note on the domestic market.

      The coupon on the EBRD’s inaugural GEL bond is flat to the 3-month rate on certificates of deposit issued by the National Bank of Georgia). The bonds are eligible for sale and repurchase operations carried out by the National Bank of Georgia (the “NBG”).

      “This is a very significant step for the Georgian local capital market that brings a new instrument for investors and, at the same time, allows the EBRD to diversify its source of GEL and to continue lending to companies in need of long term financing in local currency” commented Bruno Balvanera, EBRD Director for Caucasus, Moldova & Belarus.

      “With developed local bond and currency markets come improved efficiency of financial intermediation, diversification and reduction of the currency risks in the banking sector lessening important risks connected with exchange rates and overall strengthening the stability of the local financial systems in Georgian economy as a whole. I am confident, that the first ever GEL denominated bond issuance by the EBRD will clear the way for such issuances by other International Financial Institutions and further development of Georgian capital markets.” said Giorgi Kadagidze, President of the National Bank of Georgia.

      “I am pleased that BG Capital, our brokerage subsidiary, and TBC Bank have joined forces with EBRD in this landmark transaction for Georgia. Having successfully placed Georgia’s debut GEL denominated corporate bonds in 2005, I am particularly pleased that with BG Capital acting as a lead manager and underwriter, Bank of Georgia is part of the first-ever GEL denominated securities issuance by an international financial institution” said Irakli Gilauri CEO of Bank of Georgia.

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      Bank of Georgia healthcare subsidiary completes the acquisition of 100% equity interest in Avante

      Bank of Georgia healthcare subsidiary completes the acquisition of 100% equity interest in Avante

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that Unimed Kakheti LLC, the wholly-owned healthcare subsidiary of JSC Insurance Company Aldagi (“Aldagi”), the Bank’s healthcare and insurance subsidiary, has increased its stake in Avante Management Group (“Avante”), from 80% to 100%. Aldagi acquired an 80% equity interest in Avante in February 2014, and the remaining 20% interest in March 2014.

      Avante owns four hospitals with a total of 578 beds located in Tbilisi and Batumi and is the second largest healthcare provider in Georgia by number of beds, after Aldagi. Following the acquisition, Aldagi has 36 healthcare facilities and 1,907 hospital beds in Georgia.

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      Bank of Georgia healthcare subsidiary acquires new hospitals

      Bank of Georgia healthcare subsidiary acquires new hospitals

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces that Unimed Kakheti LLC, the wholly-owned healthcare subsidiary of JSC Insurance Company Aldagi (“Aldagi”), the Bank’s healthcare and insurance subsidiary, has acquired an 80% equity interest in Avante Hospital Management Group (“Avante”) that owns four hospitals, with a total of 578 beds, located in Tbilisi and Batumi. Avante is the second largest healthcare provider in Georgia by number of beds, following Aldagi. Generating an estimated revenue of GEL 35.0 million in 2013, this portfolio of hospitals provides Aldagi with leading positions in both pediatric and maternity care.

      The acquisition of the new hospitals, as well as the acquisition in December 2013 of a 60 bed high-end, multispecialty hospital in Tbilisi, is consistent with the company’s previously announced strategy to scale up its healthcare business through targeted hospital acquisitions focusing in Tbilisi. Following the acquisition, Aldagi has 36 healthcare facilities and 1,907 hospital beds in Georgia. Aldagi is currently in negotiations to acquire the residual 20% holding in Avante.

      “I am very pleased that we continue the year with this strategic acquisition, which considerably strengthens our healthcare franchise in the country as we expand our healthcare services in Tbilisi. The addition of the second largest healthcare provider with the strongest position in pediatric and maternity care offers material synergy opportunities, the majority of which I believe our experienced team will be able to deliver in the near term. I would like to congratulate our Aldagi team with the completion of this important transaction and look forward to an interesting year ahead”, commented Irakli Gilauri, Chief Executive Officer of Bank of Georgia.

      “This acquisition is in line with our strategy to increase our market share of the Georgian healthcare market. In addition to increasing synergies, we believe Avante’s facilities gives us an opportunity to increase the number of beds at Avante’s hospitals from 578 beds to over 600 beds with moderate investments. We expect to deliver significant synergies, increase our share of the healthcare market in Georgia, and enlarge our healthcare business in the capital city of Georgia as a result of these acquisitions”, commented Murtaz Kikoria, Chief Executive Officer of Aldagi.

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      Bank of Georgia Holdings PLC Q4 2013 and Full Year 2013 Results

      Bank of Georgia Holdings PLC Q4 2013 and Full Year 2013 Results

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      Notice of Q4 2013 and Full Year 2013 Results

      Notice of Q4 2013 and Full Year 2013 Results

      Bank of Georgia Holdings PLC will publish its financial results for Q4 2013 and full year 2013 at 07:00 London time on Tuesday, 18
      th February 2014. The results announcement will be available on Bank of Georgia Holdings’s website at www.bogh.co.uk. An investor/analyst conference call, organised by Bank of Georgia Holdings, will be held on Tuesday, 18th February 2014, at 15:30 UK / 16:30 CET / 10:30 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

      Dial-in numbers:                                                                        30-Day replay: 
      Pass code for replays / Conference ID: 80115405         Pass code for replays / Conference ID: 80115405

      UK: + 44 (0) 1452 560304                                                                International Dial in: +44 (0) 1452 55 00 00

      US: + 16316215256                                                                             UK National Dial In: 08717000145

      Austria: +43 (0) 19287543                                                                UK Local Dial In: 0844 338 6600

      Belgium: +32 (0) 24017052                                                              USA Free Call Dial In: 1866 247 4222

      Czech Republic: +42 (0) 225986545

      Denmark: +45 32729223

      Finland: +358 (0) 923194487

      France: +33 (0) 170700785

      Germany: +49 (0) 69222220477

      Hungary: +36 (0) 680018835

      Ireland: +353 (0) 12475166

      Italy: +39 (0) 236007812

      Luxembourg: + 80027946

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      Bank of Georgia Receives US$65 million loan from IFC

      Bank of Georgia Receives US$65 million loan from IFC

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces that the Bank has received a US$65 million subordinated loan facility from IFC Capitalization Fund. The loan facility bears a maturity of ten years and will enable the Bank to further optimise its cost of funding.

      “I am pleased with the opportunity to once again join forces with IFC and successfully close this important transaction. The subordinated loan facility, which qualifies as Tier II Capital will improve the overall capitalisation of the Bank, while at the same time help to drive down our cost of funding as it enables us to repay more costly subordinated facilities. I would like to thank our long-standing partner and shareholder IFC for continuous collaboration and our funding team for the successful completion of the transaction,” said Irakli Gilauri, Chief Executive Officer.

      "We are happy to partner with Bank of Georgia as it continues to grow and improve access to finance by expanding its lending operations,” said Marcos Brujis, Head of the IFC Capitalization Fund.

      "This subordinated loan will enable Bank of Georgia to further strengthen its capital base and continue lending to Georgian companies and individuals, supporting economic growth and job creation," said Thomas Lubeck, IFC Regional Manager for the South Caucasus. “This project is another step in a long and productive partnership between Bank of Georgia and IFC."

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      Bank of Georgia healthcare subsidiary acquires a new hospital

      Bank of Georgia healthcare subsidiary acquires a new hospital

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      Bank of Georgia’s healthcare subsidiary acquires a new hospital

      Bank of Georgia’s healthcare subsidiary acquires a new hospital

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”),
      Georgia’s leading bank announces that Unimed, the wholly-owned healthcare subsidiary of Aldagi, the Bank’s
      insurance and healthcare subsidiary has acquired 100% equity interest in the 60 bed high-end, multi-specialty
      hospital in Tbilisi. The hospital generated an estimated revenue of GEL 7.7 million in 2013

      The acquisition of the new hospital is in line with the company’s previously announced strategy to scale up its
      healthcare business through targeted hospital acquisitions focusing on Tbilisi. Following the acquisition, the
      Bank’s healthcare subsidiary has 32 healthcare facilities and 1,329 beds in Georgia.

      “I am very pleased to start 2014 with this important acquisition, which further strengthens our healthcare
      franchise in the country as we expand our healthcare services in the capital city. The addition of the second
      largest luxury hospital to Aldagi’s leading hospital chain offers ample opportunities for cost synergies, that I
      believe, our experienced team will be able to deliver over the next few months. I would like to congratulate our
      Aldagi team with the completion of the transaction and looking forward to an interesting year ahead,”
      commented Irakli Gilauri, Chief Executive Officer.

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      Bank of Georgia announces changes to its Board of Directors

      Bank of Georgia announces changes to its Board of Directors

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces changes to its Board of Directors of BGH (the “Board”), effective immediately.

      These changes ensure that all non-executive directors are fully independent reflecting the Board’s commitment to promoting high standards of corporate governance. Two non-independent non-executive directors, Ian Hague (a managing director of the Firebird funds) and Hanna Loikkanen (Senior Advisor and Head of the Private Equity Russia at East Capital) as well as Allan Hirst, an independent non-executive director, are stepping down from the Board of BGH and the Supervisory Board of the Bank.

      Mr Hague, Ms Loikkanen and Mr Hirst have been replaced with three new independent non-executive directors: Bozidar Djelic, Tamaz Georgadze and Kim Bradley. The new independent non-executive directors will also join the Supervisory Board of the Bank. All three new Board members will join the Nomination Committee of BGH and Mr Bradley will also join the Audit Committee of BGH and the Bank. Mr David Morrison will replace Mr Hirst as a Chairman of the Audit Committee of BGH and the Bank. The Board has also resolved to establish effective 1 January 2014 a Risk Committee with the following directors: Kim Bradley (chairman of the committee), Bozidar Djelic, Al Breach and Kaha Kiknavelidze. A Risk Committee with the same members has also been established at the Bank Supervisory Board level as well. Please see below brief biographies of new appointments.

      It is the Board’s policy that each Director and member of the Supervisory Board of the Bank will serve a tenure of six years, subject at all times to re-election by the shareholders of BGH at each AGM.

      “I am excited to welcome Bozidar, Tamaz and Kim to the Board, who all bring tremendous financial and leadership experience to the Board. I am confident they will make a great contribution to the group, building value for shareholders. On behalf of the entire Board, I would like to thank Ian, Hanna and Allan for their service. They have been instrumental to BGH and Bank of Georgia’s transformation and success and have made significant contributions to the group’s strategic direction and governance for years.” commented Neil Janin, Chairman.

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      Bank of Georgia Representative Office Istanbul Signs Joint Services Agreement with Aktif Bank

      Bank of Georgia Representative Office Istanbul Signs Joint Services Agreement with Aktif Bank

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading
      bank announces that the Bank’s representative office in Istanbul has signed a joint services agreement with Aktif Bank, the
      privately owned investment bank in Turkey to facilitate money transfer and other services for the Bank’s clients. The
      agreement was signed during the formal opening ceremony of the Istanbul representative office, which was established
      with the primary view of capturing investments and trade flows between Georgia and Turkey and deepening relationship
      with Turkish financial institutions and business community.

      “I am excited that in parallel to opening a representative office in Istanbul, we are joining forces with Atkif Bank to capture
      business opportunities arising from strong economic partnership between Georgia and Turkey. I am sure that Aktif Bank,
      which is one of the most entrepreneurial and innovative banks in Turkey, will be an invaluable partner with our new
      business endeavors in the region”, commented Irakli Gilauri, Chief Executive Officer of Bank of Georgia.

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      Bank of Georgia opens representative office in Istanbul

      Bank of Georgia opens representative office in Istanbul

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces that the Bank has opened a representative office in Istanbul, Turkey, with a view of capturing investments and trade flows between Georgia and Turkey and deepening relationship with Turkish financial institutions and business community. The Istanbul representative office, which marks formal opening ceremony today, is the fourth representative office opened by the Bank, after Tel-Aviv, London and Budapest offices. Nika Gilauri has been appointed Head of Istanbul representative office. At different times from 2004 – 2012 Nika Gilauri served as Prime Minister of Georgia, Minister of Finance, Minister of Energy and First Vice Premier Minister in the Cabinet of Georgia and led negotiations in number of key agreements between Georgia and Turkey.

      “I am excited that we have now expanded our international platform to Istanbul. Turkey has been one of Georgia’s largest trading partners for more than a decade and is one of the top countries of origin for tourist arrivals into Georgia, accounting for more than 1.5 million tourists in 2012. Trade with Turkey accounted approximately US$1 billion in 2012 and Turkey has invested more than US$500 million into the Georgian economy over the last five years as one of the leading contributors to the country’s FDI. Turkey will undoubtedly continue to remain Georgia’s significant economic partner in the coming years and we look forward to bringing in Bank of Georgia’s strong franchise to capture the business opportunities arising from the increasing partnership between the two countries”, commented Irakli Gilauri, Chief Executive Officer.

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      Bank of Georgia hosts Investor Day in Tbilisi

      Bank of Georgia hosts Investor Day in Tbilisi

      Bank of Georgia Holdings PLC (“BGH), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s
      leading bank is hosting today an Investor Day for analysts and investors in Tbilisi, Georgia.

      As part of the presentation the Bank will update investors on its medium term strategic goals which are
      summarised below:

      • The Bank will continue to focus on the rapidly growing Georgian market
      • Our '3x20' strategy will continue to be targeted over the medium term to deliver
        • A return on average equity of 20%
        • Customer lending and deposit growth of 20% per annum
        • A Tier I capital ratio of 20% (BIS I)
      • The Bank will aim to maintain a dividend payout ratio in the 25%-40% range; in additional one-off special
        dividends will be considered in the light of potential divestments over the next few years.
      •  Over the next 2-3 years, the net interest margin is expected to be in the c7.5% range
      • Positive operating leverage is expected to be maintained over the next 2-3 years, reducing the cost/income
        ratio to close to 37%
      • The loan-to-deposit and Development Financial Institutions funding ratio is expected to be maintained in
        the 100% area over the next 2-3 years
      • The Bank will continue to enhance its already prudent risk management practice
      • The Bank's cost of risk is expected to be in the 1.5% area
      • Within the business divisions:
        • In Insurance and Healthcare; to scale up the business via targeted hospital acquisitions and to consider an Initial Public Offering of Aldagi, its Insurance and Healthcare subsidiary, within 2 years
        • In Investment Management; to target US$2 billion assets under management by 31 December 2016
        • In Affordable Housing; to target an internal rate of return of 40%
        • To target the divestment of the Bank’s non-core subsidiary in Belarus with the next 2 years

           
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      Bank of Georgia announces a US$10 million financing from Citi and OPIC for microfinance sector

      Bank of Georgia announces a US$10 million financing from Citi and OPIC for microfinance sector

      Bank of Georgia Holdings PLC (“BGH), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces that the Bank, Citi and Overseas Private Investment Corporation (OPIC) have closed a US$10 million term loan to fund the growth of the Bank’s microfinance portfolio in order to promote the financial inclusion of microentrepreneurs and small businesses in the Republic of Georgia. This loan will be the first from Citi and OPIC for the microfinance sector in Georgia, and is a part of Citi and OPIC’s joint global initiative to support microfinance lending in emerging markets.

      “We are delighted with this opportunity to join forces with Citi and OPIC to extend loans to small businesses in Georgia. The newly-drawn facility will further enhance Bank of Georgia’s competitiveness in micro lending, a segment that makes up a sizeable part of the Bank’s Retail Banking loan portfolio. This facility will also allow the Bank to continue supporting the development of small businesses, which is fundamental for the growth of the country’s economy” said Irakli Gilauri, Chief Executive Officer of Bank of Georgia.

      “Expanded access to finance for the micro and small enterprise sector has the potential to accelerate economic growth in Georgia and broaden financial inclusion for those outside the economic mainstream,” said Steve Donovan, Citi’s Regional Executive of Treasury & Trade Solutions, MENA, Turkey and Central Asia. “This transaction demonstrates and reinforces
      Citi’s and OPIC’s shared commitment to unlock opportunities to access both start-up and sustaining capital for aspiring and established small businesses.”

      “Small businesses are fundamental to economic growth and job creation but often still struggle to obtain the financing needed to support and expand their operations” said Elizabeth L. Littlefield, OPIC President and CEO. “OPIC’s longstanding partnership with Citi has provided financing to thousands of micro and small-businesses in regions that are underserved by the financial sector and we are delighted to expand this same partnership to Georgia” Littlefield added.

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      Bank of Georgia Holdings PLC announces Q3 2013 and nine months ended 30 September 2013 results

      Bank of Georgia Holdings PLC announces Q3 2013 and nine months ended 30 September 2013 results

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      Bank of Georgia Holdings PLC notice for 9M 2013 Results

      Bank of Georgia Holdings PLC notice for 9M 2013 Results

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      JSC Bank of Georgia issues US$150 million 7.75% Notes due 2017

      JSC Bank of Georgia issues US$150 million 7.75% Notes due 2017

      NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, JAPAN OR
      THE UNITED STATES EXCEPT, IN THE CASE OF THE UNITED STATES, TO PERSONS REASONABLY
      BELIEVED TO BE QUALIFIED INSTITUTIONAL BUYERS (WITHIN THE MEANING OF RULE 144A
      UNDER THE SECURITIES ACT (AS DEFINED BELOW)), AND IN THE CASE OF OTHER JURISDICTIONS,
      AS PERMITTED BY APPLICABLE LAW

      This Announcement does not contain, constitute, or form part of any offer or invitation to sell or subscribe for, or any solicitation of any offer to purchase or subscribe for, any securities in any jurisdiction, and neither this Announcement (nor any part of it) nor the fact of its distribution forms the basis of, or may be relied upon in connection with, or act as any inducement to enter into, any contract or commitment whatsoever.

      JSC Bank of Georgia issues U.S.$150 million 7.75% Notes due 2017 (consolidated and forming a single series with the U.S.$250 million 7.75% Notes due 2017 issued on 5 July 2012)

      Bank of Georgia Holdings plc ('BGH') (LSE: BGEO LN), the holding company of JSC Bank of Georgia (the "Bank"), Georgia's leading bank, announced today that the Bank has completed the issuance of its US$150 million 7.75% notes due 2017 (the "Further Notes") (consolidated and forming a single series with the U.S.$250 million 7.75% notes due 2017 issued on 5 July 2012 (the "Existing Notes" and, together with the Further Notes, the "Notes")). The Regulation S / Rule 144A senior unsecured Further Notes carry a 7.75% coupon rate per annum, paid semi-annually, and were issued and sold at closing at a price of 105.249% of their principal amount on 6 November 2013. J.P. Morgan Securities plc and Merrill Lynch International acted as Joint Lead Managers for the Further Notes. Dechert LLP and Baker & McKenzie LLP acted as legal advisors to the Joint Lead Managers and the Bank, respectively. The Notes are rated BB- (Fitch) / Ba3 (Moody's) / BB- (Standard & Poor's). The Notes are listed on the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange's Regulated Market.

      "In continuation of our ongoing active liability management efforts, we are very pleased to have succesfully completed this bond issue, with initial demand more than three times the offer size and investor interest from over 80 institutional investors from the US, the UK, Singapore, Switzerland, Austria and other European countries. The net proceeds will help us to further optimise our cost of funding and among other things will be used to provide financing for our general working capital needs", commented Irakli Gilauri, Chief Executive Officer.

      DISCLAIMERS

      In the European Economic Area, with respect to any Member State that has implemented Directive 2003/71/EC and Directive 2010/73/EU (together with any applicable implementing measures in any Member State, the "Prospectus Directive"), this Announcement is only addressed to and is only directed at qualified investors ("Qualified Investors") in that Member State within the meaning of Article 2(1)(e) of the Prospectus Directive.
      The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered or sold in the United States or to US persons (as such term is defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act.The issuer of the securities has not registered, and does not intend to register, any portion of the offering in the United States, and does not intend to conduct a public offering of securities in the United States.
      This Announcement is not intended to, and shall not, constitute or contain an offer to sell or solicitation of an offer to purchase the securities referred to herein by any person in any jurisdiction where it is unlawful to make such an offer or solicitation. The distribution of the Announcement and the offer or sale of the securities referred to herein in certain jurisdictions is restricted by law. This Announcement may not be used for or in connection with, and does not constitute, any offer to, or solicitation by, anyone in any jurisdiction or under any circumstance in which such offer or solicitation is not authorised or is unlawful.
      In the United Kingdom ("UK"), this Announcement is being distributed only to, and is directed only at, Qualified Investors (i) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") and Qualified Investors falling within Article 49 of the Order, and (ii) to whom it may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons"). Any investment or investment activity to which this Announcement relates is available only to relevant persons and will be engaged in only with relevant persons. Any person who is not a relevant person should not act or rely on this Announcement or any of its contents. 

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      Bank of Georgia Investor Day Agenda

      Bank of Georgia Investor Day Agenda

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      Bank of Georgia Announces Appointment of Chief Information Officer

      Bank of Georgia Announces Appointment of Chief Information Officer

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces that George Sharia has been appointed as the Chief Information Officer (CIO) of the Bank, effective immediately. George takes on the position from George Keshelashvili, who has been appointed as CEO of Georgian Card Holding*.

      “I am excited to welcome George to our team. George brings with him more than 25 years of experience in leading financial institutions and software companies globally and I am sure that his expertise will be invaluable to the Bank of Georgia group,” commented Irakli Gilauri, Chief Executive Officer.

      Prior to joining Bank of Georgia, George worked as Vice President at Royal Bank of Scotland, IT Front Office Americas in Stamford, Connecticut for five years. Prior to Royal Bank of Scotland, George held similar positions on the Wall Street, at Royal Bank of Canada from 2005-2007, Bank of Tokyo Mitsubishi in 2005 and Citigroup from 1999 to 2005, where he worked as Vice President in FX analytics group. Before starting his banking career, George worked at various leading software houses in Canada and USA. George holds Ph.D. in engineering from Moscow Technical University and a master’s degree from Tbilisi State University.




      *Georgian Card Holding is the leading payment platforms provider in Georgia wholly owned by Bank of Georgia.

      GC Holding owns and manages Georgian Card – the largest card processing company in the country, a network of Express Pay (self-service) terminals and iPay – a leading payment system in Georgia.

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      Bank of Georgia Investor Day

      Bank of Georgia Investor Day

      You are cordially invited to the Bank of Georgia Investor Day to be held on 15 November in Tbilisi, Georgia. This event, held for analysts and investors, will be hosted by the members of Bank of Georgia management team.

      We expect to host a dinner with Senior Management, Regulators and Government Officials on the evening of Thursday 14th November followed, on Friday 15th November series of business presentations and site visits. We will also be organising a tour to Kakheti, for the participants who are interested in visiting Georgia's wine region on Saturday, 16 November for either a day trip or a one night stay.

      A more detailed agenda and registration details will be provided in the near future. Please make sure to save the date in your calendar.

      Please express your interest in this event by sending an email to ir@bog.ge.

      We look forward to seeing you in Tbilisi!

      Macca Ekizashvili                                                                      Michael Oliver
      Tel: +44 7879191919                                                                 Tel: +44 7801472268
      mekizashvili@bog.ge                                                                 moliver@bog.ge

      84 Brook Street
      London
      W1K 5EH

      29a Gagarini Street
      Tbilisi 0160

      For more information you can also contact our Investor Relations Department at ir@bog.ge

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      Bank of Georgia Holdings PLC Half-Year Results 2013

      Bank of Georgia Holdings PLC Half-Year Results 2013

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      Bank of Georgia Holdings PLC notice for 1H 2013 Results

      Bank of Georgia Holdings PLC notice for 1H 2013 Results

      Bank of Georgia Holdings PLC will publish its financial results for 1H 2013 at 07:00 London time on Wednesday, 14 th August 2013. The results announcement will be available on Bank of Georgia Holdings’s website at www.bogh.co.uk. An investor/analyst conference call, organised by Bank of Georgia Holdings, will be held on Wednesday, 14th August 2013, at 14:00 UK / 15:00 CET / 09:00 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15- minute update and a 45-minute Q&A session.

      Dial-in numbers:                                                                     30-Day replay:

      Pass code for replays / Conference ID: 31213682                  Pass code for replays / Conference ID: 31213682

      UK: +44 (0) 1452 555 566                                                           International Dial in: +44 (0) 1452 55 00 00

      US: +1 631 510 7498                                                                     UK National Dial In: 08717000145

      Austria: +43 (0)192 865 68                                                        UK Local Dial In: 0844 338 6600

      Belgium: +32 (0) 817 000 61                                                     USA Free Call Dial In: 1866 247 4222 

      Czech Republic: +42 (0) 2288 804 60

      Denmark: +45 3272 7625

      Finland: +358 (0) 923 195 187

      France: +33 (0) 176 742 428

      Germany: +49 (0) 692 222 4918

      Hungary: +36 (0) 180 883 03

      Ireland: +353 (0) 143 196 48

      Italy: +39 (0) 236 008 146

      Luxembourg: +352 2088 0695

      Netherlands: +31 (0) 207 176 886

      Norway: +47 2156 3013

      Spain: +34 9141 436 69

      Sweden: +46 (0) 850 336 434

      Switzerland (Geneva): +41 (0) 565 800 007

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      Bank of Georgia Announces Appointment of Chief Risk Officer

      Bank of Georgia Announces Appointment of Chief Risk Officer

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces that George Chiladze has been appointed as the Chief Risk Officer (CRO) of the Bank, effective 1st September 2013. The position has been vacant since May 2013 following executive management reshuffle, which saw Sulkhan Gvalia, CRO at the time, taking the position of Deputy CEO for Corporate Banking. George has served as Deputy CEO for Finance at Bank of Georgia from 2008 to 2011.

      “I am excited to welcome George back to our team. Having served at Bank of Georgia as Deputy CEO, Finance for more than three years, George has a thorough knowledge and understanding of the Bank, which will ensure continuity and smooth transition. We are very fortunate that George has rejoined us and I look forward to the contributions he will make in his new role” commented Irakli Gilauri, Chief Executive Officer.

      After leaving Bank of Georgia in 2011, George joined Partnership Fund* in the capacity of Deputy CEO. Prior to joining Bank of Georgia in 2008, George served as General Director of JSC BTA Bank (2005-2008). Prior to returning to Georgia in 2003, George worked a Program Trading Desk at Bear Stearns in New York. He has received Ph.D. in physics from John Hopkins University in Baltimore, Maryland and an undergraduate degree
      from Tbilisi State University.

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      Bank of Georgia Holdings Announces Appointment of Corporate Brokers

      Bank of Georgia Holdings Announces Appointment of Corporate Brokers

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces appointment of Numis Securities Limited and RBC Europe Limited as joint corporate brokers for BGH.

      “We have made significant progress in raising market awareness and enhancing the investor profile of BGH since attaining a premium listing on the London Stock Exchange in February 2012 and our FTSE 250 Index inclusion shortly afterwards. The Bank has markedly improved its access to global capital markets and has experienced a significant diversification of its investor base, with particularly noticeable increases in UK and US shareholders. We look forward to working with Numis Securities and RBC and believe that the global financial reach and complementary strengths of these two internationally recognised securities firms make them strong partners to assist us with the next stage of development,” commented Irakli Gilauri, Chief Executive Officer.

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      Dividend Announcement

      Dividend Announcement

      On 23 May 2013, the shareholders of Bank of Georgia Holdings PLC (the Company) (LSE: BGEO LN), the holding company of JSC Bank of Georgia (the Bank), Georgia's leading bank, approved the declaration of a final dividend of Georgian Lari 1.50 per share, payable to ordinary shareholders of the Company in British Pounds Sterling pursuant to the following timetable:

      Ex-Dividend Date:                              5 June 2013
      Record Date:                                         7 June 2013
      Currency Conversion Date:              10 June 2013
      Payment Date:                                    19 June 2013

      The Company hereby confirms that the National Bank of Georgia Georgian Lari/British Pounds Sterling exchange rate as of 10 June 2013 is 2.6051 and shall be used to pay dividends to ordinary shareholders of the Company on 19 June 2013.

      Those shareholders who have not provided their appropriate bank account details to Computershare Investor Services PLC for payment of the dividend will be paid the dividend by cheque in British Pounds Sterling.

      Name of authorised official of issuer responsible for making notification:

      Kate Bennett Rea, Company Secretary

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      Bank of Georgia signs a financing package with EBRD

      Bank of Georgia signs a financing package with EBRD

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces that the Bank and the European Bank for Reconstruction and Development (EBRD) have signed a loan agreement in the amount of US$ 10 million under the EBRD’s Caucasus Energy Efficiency Programme (CEEP). The loan bears maturity of five years and will be used for on-lending to private sector entities with a view to finance energy efficiency and rational energy utilization investments. Technical Cooperation and Grant support for this operation has been provided by the Austrian Government and the European Union (“EU”) through the Neighbourhood Investment Facility (“NIF”) and will fund technical assistance and incentives to endborrowers. 

      EBRD will also facilitate the launch of International Factoring, by providing EUR 10 million facility under its Trade Facilitation Programme (TFP) to the Bank.

      “Having successfully provided energy efficiency loans to corporate clients under the first agreement under CEEP with the Bank’s long-time partner and shareholder EBRD, Bank of Georgia is committed to further extend its financing to businesses that will enable its clients to employ energy saving technologies and improve their competitiveness,” said Irakli Gilauri, CEO, Bank of Georgia. “As the first Georgian bank to introduce factoring product to the Georgian market in 2007, I am very pleased that the launch of International Factoring within the EBRD’s TFP will allow Bank of Georgia to expand the range of the products offered to its corporate clients and will contribute to the expansion of international trade operations of the bank”.

      “EBRD is delighted to work with its long-standing partner bank to continue to finance the real economy, particularly, the energy efficiency lending. The development of the market for Sustainable Energy lending as well as further promoting trade finance form of banking in Georgia are very important for the EBRD. Bank of Georgia has been traditionally one of the most active banks in TFP in Georgia, a significant market player with a good track record of growth and strong reputation”, said Bruno Balvanera, EBRD Director for Caucasus, Moldova & Belarus.

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      Bank of Georgia further cuts deposit rates

      Bank of Georgia further cuts deposit rates

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces that the Bank has decreased interest rates on its foreign currency (predominantly US$ denominated) and Georgian Lari (GEL) 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$ denominated deposits. Since the year-end 2012, the interest rates on US$ 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.

      “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.

      The interest rate cuts also reflect our efforts to support the de-dollarisation of our balance sheet. The reduced rates on the US$ denominated deposits make GEL denominated deposits more attractive for our customers. At the same time, we expect de-dollarisation of the asset side of the balance sheet as we seek to capitalise on the recently introduced GEL lending programme by the National Bank of Georgia (the NBG), which involves a repo transaction with the NBG ultimately providing our clients with floating rate loans denominated in the national currency linked to the NBG’s refinancing rate,” commented Irakli Gilauri, Chief Executive Officer.

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      BGH announces a US$ 14 million financing for M2 Real Estate from IFC with support from Government of Canada

      BGH announces a US$ 14 million financing for M2 Real Estate from IFC with support from Government of Canada

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces that IFC, a member of the World Bank Group, with the support of the Government of Canada, will provide JSC m2 Real Estate, the wholly-owned subsidiary of Bank of Georgia with a revolving loan to support green housing construction and job creation in Georgia. The facility will help m2 Real Estate develop energy efficient, affordable and quality housing projects in Georgia addressing housing deficit.

      IFC will provide m2 Real Estate with up to $14 million revolving loan, including up to $4 million from the IFC-Canada Climate Change Program. The financing is expected to meet the working capital requirements of the company and contribute to expansion of urban infrastructure in Georgia by building high-quality affordable housing in the form of green, resource efficient, multi-resident apartment buildings.

      “We are very pleased that m2 Real Estate is the first Georgian real estate company to cooperate with IFC to develop a housing project in Tbilisi. Having successfully worked together with the Development Finance Institutions to finance our existing projects, m2 Real Estate is committed to provide its customers in Georgia with affordable, quality and modern housing. The US$14 million funding will help m2 Real Estate to realise three new projects in the heart of Tbilisi,” commented Irakli Burdiladze, Deputy CEO of Bank of Georgia, Affordable Housing.

      The project envisages construction of green building designed to increase efficient use of energy, water, and materials, while reducing negative impact on health and environment. These improvements will be made possible thanks to the government of Canada's instrumental contribution, which will help make the financing package viable.

      Thomas Lubeck, IFC Regional Manager for the South Caucasus, said: “This is IFC’s first investment in housing development in Georgia, increasing the supply of quality housing and improving standards of living for local families. Through this investment, we also support the efficient use of resources, help create jobs, and increase investor confidence in the sector.”

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      Results of AGM

      Results of AGM

      Download

      Bank of Georgia Holdings PLC Annual Report 2012

      Bank of Georgia Holdings PLC Annual Report 2012

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      Annual Report and Dividend Announcement

      Annual Report and Dividend Announcement

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      JSC Bank of Georgia AGM results announcement 8 April 2013

      JSC Bank of Georgia AGM results announcement 8 April 2013

      JSC Bank of Georgia, the leading Georgia universal bank (“the Bank”), announced today that all resolutions put to shareholders at the Annual Meeting of Shareholders (“AGM”) held on 5 April, 2013 were passed and they were approved by the main shareholder, Bank of Georgia Holdings PLC, with 35,909,383 voting shares, representing of 99.56% of total voting shares in issue as of the AGM date.

      The following resolutions were adopted at the AGM:

      1. Approval of the consolidated audited results for fiscal year 2012 of the Bank by Ernst & Young
      2. Approval of the Management Board Report on the performance of the Bank for the fiscal year 2012
      3. Approval of the extension of the term of the Supervisory Board member – David Morrison to additional
      four year period
      4. Approval of the extension of the term of the Supervisory Board member – Ian Hague to additional four year
      period
      5. Approval of the joint proposal of Management and Supervisory Board on allocation of the profit for the
      year of 2012 and distribution of part of the profit as dividends – in the amount of GEL 1.50 per outstanding
      share of JSC Bank of Georgia
      6. Approval of the setting 19 April, 2013 (18:00) as the Dividend Record Date
      7. Approval of the setting 7 May, 2013 as the Dividend Payout Start Date.

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      Bank of Georgia Holdings PLC announces change of advisor

      Bank of Georgia Holdings PLC announces change of advisor

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia and its subsidiaries, Georgia's leading bank, is pleased to announce the appointment, with immediate effect, of Cantor Fitzgerald Europe as joint corporate broker. This follows the acquisition of certain assets and businesses of Seymour Pierce Limited by Cantor Fitzgerald Europe.



      For further information, please visit www.bogh.co.uk, www.bog.ge/ir

      Irakli Gilauri                       Chief Executive Officer                     +995 332 444 109
      Macca Ekizashvli               Head of Investor Relations              +995 322 444 256
      Rick Thompson                  Cantor Fitzgerald Europe                +44 (0) 20 7107 8000
      Jeremy Stephenson           Cantor Fitzgerald Europe                +44 (0) 20 7107 8000

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      Bank of Georgia Holdings PLC announces the sale of holdings by East Capital Financials Fund

      Bank of Georgia Holdings PLC announces the sale of holdings by East Capital Financials Fund

      The Board of Bank of Georgia Holdings plc (BGH) announces the sale of 10.17% equity interest in BGH by the East Capital Financials Fund.

      The East Capital Financials Fund, a private equity fund, is currently seeking to ensure the orderly completion of divestments to enable the already announced closure of the fund over the next year or so. Bank of Georgia is delighted that East Capital continues to maintain a strong investment in the Bank in a number of its other funds. Following the sale today, other equity funds managed by East Capital retain 5.6% equity interest in BGH.

      “With the forthcoming closure of the East Capital Financials Fund, I am pleased that we have been able to further diversify our institutional investor base with the addition of a number of new, high quality, long-term institutional investors. We welcome these new shareholders. This share disposal will also lead to an increase in the ‘free float’ of Bank of Georgia shares on the London Stock Exchange, and support the Bank’s desire to increase stock liquidity,” noted Irakli Gilauri, Chief Executive of BGH.

      “We are very pleased with the strong development of Bank of Georgia and the return it has contributed to the fund’s portfolio. However, as East Capital Financials Fund has entered its divestment phase, the time has come for the fund to exit this holding. We still believe strongly in the company and its management. The buyer interest demonstrated during the sale of our position confirms this view,” commented Kestutis Sasnauskas, CEO of East Capital Private Equity

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      Bank of Georgia Holdings Announces Extension of the Service Contract of the CEO

      Bank of Georgia Holdings Announces Extension of the Service Contract of the CEO

      Bank of Georgia Holdings PLC (“BGH”) announces that its Board of Directors and Irakli Gilauri, the CEO of JSC Bank of Georgia, have agreed on an extension of the current service contract of Irakli Gilauri for further three years starting from 1 May 2013. The new service contract, with the terms and conditions largely unchanged from Mr Gilauri’s current service contract which was due to expire in August 2013, has been extended until 1 May 2016.

      Mr Gilauri, as Chief Executive Officer of JSC Bank of Georgia, is a participant of the Compensation Policy for top executives of JSC Bank of Georgia. Details of the Compensation Policy have been separately announced by BGH today.

      “I am looking forward to another three years of working together with an excellent management team and Board of Directors, as we continue to further develop and grow Bank of Georgia, the country’s leading financial institution. Having spent more than eight years with the Bank, I have full confidence in the capabilities of this bank and the team to capitalise on the opportunities that lie ahead of us and deliver further value to shareholders.

      Currently, my holdings in Bank of Georgia amount to 622,431 shares and nil-cost options, of which 323,000 will vest in next four years and 299,431 have already vested. After signing this new threeyear commitment with the Bank, it is expected that I will be awarded at least an additional 270,000 nil-cost options that will vest over the next seven years. Having accumulated a significant stake in the Bank over the period of eight and a half years work, I have decided to sell 220,000 BGH shares over the coming weeks. We will notify the market when the sale is complete, in accordance with legal requirements.” commented Irakli Gilauri, Chief Executive Officer.

      “Irakli’s contribution to the success of the Bank is clear and the Board is delighted to benefit from his vision and leadership to further increase value for shareholders over the next three years,” commented Neil Janin, Chairman of the Board of Directors of BGH.

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      Bank of Georgia Holdings Announces Extension of Deputy CEOs Contracts and Management Reshuffle

      Bank of Georgia Holdings Announces Extension of Deputy CEOs Contracts and Management Reshuffle

      Bank of Georgia Holdings PLC (“BGH”) announces that the Board of Directors of BGH and Supervisory Board of JSC Bank of Georgia (the “Bank”) have extended the contracts of six Deputy Chief Executive Officers of the Bank and the CEO of Aldagi BCI for a further 2.5 to 3.5 year period starting from 1 May 2013. BGH also announces the adoption of a compensation policy for certain executives of the Bank and its subsidiaries as well as other persons who may join the Bank and be eligible by the resolution of the Supervisory Board of the Bank (the “Compensation Policy”) for the three year period ending in January 2016 (“Term of the Policy”).

      BGH also reports the Bank’s executive management reshuffle that will see Archil Gachechiladze, currently Deputy CEO, Corporate Banking replace Vasil Revishvili, currently Deputy CEO, Asset and Wealth Management, whose contract shall not be extended after its expiration in May 2013. Sulkhan Gvalia, currently Deputy CEO, Risk will become Deputy CEO, Corporate Banking. The new appointments will become effective on 1 May 2013. The Bank will be announcing a search for a new Chief Risk Officer. In addition, the Bank announces that Thea Jokhadze, Head of Funding will be leaving the Bank on 20 March 2013, after which the funding functions of the Bank will be undertaken by Macca Ekizashvili, Head of Investor Relations and Funding.

      In line with the changes above, the Compensation Policy, as of the date of its adoption, applies to the Chief Executive Officer and Deputy Chief Executive Officers of JSC Bank of Georgia and the CEO of Aldagi BCI, subject to their continuous service with BGH and/or other companies of BGH group (“the Executives”).

      In May 2013, the Compensation Policy will replace the existing Senior Executive Equity Compensation Policy which has been in place since November 2010. The terms and conditions of the Compensation Policy have remained largely unchanged and are described below.

      The Compensation Policy includes a fixed component including a portion payable in cash in the form of salary and a portion payable in long term deferred grants of BGH shares. Under the long-term deferred securities portion of the Compensation Policy, the eligible Executives are awarded, independent of the Executive’s performance but subject to their continuous employment, in aggregate 280,000 BGH shares (the “Long Term Deferred Securities”) per year with respect to the 2013, 2014 and 2015 compensation years. The Long-Term eferred Securities will be awarded in January 2014, January 2015 and January 2016, respectively. The awarded Long Term Deferred Securities will be subject to a four-year vesting period. During the first three years after each award, 20% of the awarded Long Term Deferred Securities will vest each year and 40% will vest in the fourth year after each award.

      The Compensation Policy also envisages the discretionary grants of securities. Under the discretionary securities portion of the Compensation Policy, subject to the Executives' continuous employment, the Executives may also be awarded additional shares of BGH (the “Discretionary Securities”) at the sole

      discretion of the Supervisory Board of the Bank during the Term of the Policy. The number of the Discretionary Securities to be awarded will be determined annually by the Supervisory Board based on the performance of the Bank and the relevant Executive and will be announced to the Executives by the end of February of the following year. Discretionary Securities will be awarded immediately upon the completion of the annual audit for the reporting year and, subject to certain additional terms and conditions, will be subject to a two-year straight line vesting period.

      No annual cash bonuses will be paid to Executives during the Term of the Policy, except that the Compensation Policy envisages cash payments in lieu of the dividends waived in related to the awarded and unvested shares held in trust. Such cash payments will accrue with respect to awarded but unvested shares from the respective dividend payment dates and will be paid to the relevant executive upon the vesting of the relevant awards.

      “We are very pleased to have adopted the compensation policy which sets a long-term incentive plan for the top executives of the Bank, facilitates further their motivation, contributing to the overall development of the Bank.” commented Al Breach, member of the Supervisory Board and Chairman of Remuneration Committee of Bank of Georgia and BGH.

      “With the executive management team reshuffle, we believe, we are putting in place the best management structure to build on past experience and achievements to ensure the continuing success of Bank of Georgia. Our corporate bank is the country’s largest corporate lender and our trade finance business captures approximately half of the Georgian trade finance market. Having led the Bank’s corporate bank for three and half years, Archil is now entrusted with the development of our asset management business, which we consider one of our main strategic priorities. Sulkhan’s eight years experience as a Chief Risk Officer at the Bank and his comprehensive knowledge and understanding of Georgia’s corporate universe makes him the right candidate to lead our corporate banking business. I look forward to working with both Sulkhan and Archil in their new capacities,” commented Irakli Gilauri, Chief Executive Officer.

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      Bank of Georgia Holdings PLC announces full year 2012 results

      Bank of Georgia Holdings PLC announces full year 2012 results

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      Notice of Q4 2012 and Full Year 2012 results

      Notice of Q4 2012 and Full Year 2012 results

      Bank of Georgia Holdings PLC will publish its financial results for Q4 and full year 2012 at 07:00 London time on Tuesday, 19th February 2013. The results announcement will be available on Bank of Georgia Holdings’s website at www.bogh.co.uk. An investor/analyst conference call, organised by Bank of Georgia Holdings, will be held on Wednesday, 20th February 2013, at 14:00 UK / 15:00 CET / 10:00 U.S. Eastern Time. The results presentation will be available on the website prior to the call. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

      Dial-in numbers :                                                                               30-Day replay:

      Pass code for replays / Conference ID: 12191287                             Pass code for replays / Conference ID: 12191287

      UK: +44 (0) 1452 555 566                                                                      International Dial in: +44 (0) 1452 55 00 00 

      US: +1 631 510 7498                                                                               UK National Dial In: 08717000145

      Austria: +43 (0)192 865 68                                                                   UK Local Dial In: 0844 338 6600

      Belgium: +32 (0) 817 000 61                                                                USA Free Call Dial In: 1866 247 4222 

      Czech Republic: +42 (0) 2288 804 60

      Denmark: +45 3272 7625

      Finland: +358 (0) 923 195 187

      France: +33 (0) 176 742 428

      Germany: +49 (0) 692 222 4918

      Hungary: +36 (0) 180 883 03

      Ireland: +353 (0) 143 196 48

      Italy: +39 (0) 236 008 146

      Luxembourg: +352 2088 0695

      Netherlands: +31 (0) 207 176 886

      Norway: +47 2156 3013

      Spain: +34 9141 436 69

      Sweden: +46 (0) 850 336 434

      Switzerland (Geneva): +41 (0) 565 800 007

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      Bank of Georgia signs EUR 25 million loan agreement with KfW

      Bank of Georgia signs EUR 25 million loan agreement with KfW

      Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank announces that the Bank and KfW, German Development Bank acting on behalf of the German Government, have signed a loan agreement totaling EUR 25 million within the framework of KfW´s Renewable Energy Programme. The facility with the maturity of 10 years will be used to finance investments in renewable energies, mainly the construction or rehabilitation of small size hydropower plants. In addition, the agreement envisages the provision of technical support from KfW with co-financing from the Austrian Development Bank, for Bank of Georgia as well as for potential investors.

      “Signing of the loan agreement with KfW will allow Bank of Georgia to extend its financing to business and contribute to the growth of Georgia’s economy. Bank of Georgia is an experienced lender to the energy industry and this facility will further increase the Bank’s competitiveness in the sector. I would like to thank KfW and the Austrian Development Bank for the cooperation and our funding team for the successful completion of the transaction,” said Irakli Gilauri, Bank of Georgia CEO.

      “We are delighted to launch the programme which is designed to provide long-term loans for investments in renewable energies, i.e. small hydropower plants with an installed capacity of up to 20 MW. In our opinion investing in hydropower allows Georgia to rely on its own power sources, rather than import expensive nonrenewable sources. Hydropower ensures reliable and inexpensive energy for Georgians while protecting the environment and climate. We would like to highlight that the programme, co-financed by the Austrian Development Bank, contains a technical assistance component aiming to enrich the experience of Bank of Georgia in SHPP financing but also to encourage private investors willing to invest further in the sector” said Enrico Spiller, KfW Director for Energy Sector Coordination in South Caucasus.

      About KfW
      KfW is one of the leading financiers of development in Georgia and the Caucasus Region. The aim of KfW´s work, carried out on behalf of the German Government, is to assist in improving economic and social conditions in Georgia and the other countries of the South Caucasus. Accordingly, KfW finances investments in economic and social infrastructure and promotes the private sector - in particular small and medium enterprises.

      KfW´s activities in Georgia started already in 1993. Since then more than EUR 240 million have been invested only in the energy sector. Additional main fields of activity are municipal infrastructure, environment and the financial sector.

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      Bank of Georgia Holdings PLC announces Q3 2012 and nine months ended 30 September 2012 results

      Bank of Georgia Holdings PLC announces Q3 2012 and nine months ended 30 September 2012 results

      Bank of Georgia Holdings plc (LSE: BGEO LN) (the “Bank”), the holding company of JSC Bank of Georgia and its subsidiaries, Georgia’s leading bank, announced today the consolidated results for Q3 2012 and nine months ended 30 September 2012 (IFRS based, derived from management accounts). The Q3 2012 profit for the period was GEL 46.6 million, (US$ 28.1 million/GBP 17.4 million) or GEL 1.35 per share (US$ 0.81 per share/GBP 0.50 per share). The Bank reported nine months ended 30 September 2012 profit of GEL 132.7 million (US$ 80.0 million/GBP 49.4 million), or GEL 3.94 per share (US$2.37 per share/GBP1.46 per share). Unless otherwise mentioned, all comparisons are with the nine months ended 30 September 2011.

      Strong performance trends continued in the third quarter of 2012

      • Positive operating leverage maintained with strong profitability
        • Net interest margin of 7.8% in the first nine months of 2012, compared to 7.9% in 2011;
          • Q3 NIM declined, as expected, to 7.3% in Q3 2012, largely reflecting the impact of the Eurobond
            issued in July 2012.
        • Revenue increased by GEL 51.7 million, or 16.2%, y-o-y, to GEL 370.0 million; excluding the benefit of
          last year’s one-off currency hedge gains, revenue increased by 24.3%;
          • Q3 2012 revenue grew 24.9% y-o-y to GEL 131.0 million.
        • Positive operating leverage maintained, as operating expenses increased at a lower rate than revenue, up
          7.0% y-o-y to GEL 167.2 million; excluding last year’s one-off gains, operating leverage was 17.3%;
          • Q3 2012 operating expenses down 1.1% q-o-q to GEL 58.1 million.
        • Cost to Income ratio improved to 45.2% from 49.1% in the first nine months of 2012, 44.4% in Q3 2012
        • Profit before tax from continuing operations of GEL 158.7 million, up by GEL 29.8 million, or 23.1%.
        • Profit for the period increased by GEL 31.3 million, or 30.9%, to GEL 132.7 million.
        • Earnings per share (basic) increased by 17.1% to GEL 3.94.
        • Return on Average Assets (ROAA) increased to 3.6%, compared to 3.3%.
        • Return on Average Equity (ROAE) increased to 19.4%, from 18.9%.
      • Strong balance sheet and capital position maintained
        • Cost of Funding declined to 7.5% in the nine months of 2012 compared to 7.8% in the same period last
          year.
          • Q3 2012 Cost of Funding of 7.1%, down from 7.5% in Q2 2012 and 7.8% in Q3 2011.
        • Net loan book increased by 19.6% y-o-y (17.1% year-to-date), while client deposits increased 24.4% y-o-y
          (5.3% year-to-date).
          • In US$ terms net loan book increased by 19.8% (17.9% year-to-date), reflecting the stable currency
            position.
        • Cost of Risk increased to 1.2% in the first nine months of 2012 from 0.9% for the same period last year. In
          absolute terms, cost of credit risk increased by GEL 15.2 million to GEL 28.6 million, largely reflecting the
          absence of last year’s net releases and recoveries and higher retail provisions in the third quarter of 2012.
        • Non-performing loans (NPLs) decreased 5.7% to GEL 102.7 million. NPLs accounted for 3.2% of gross
          loan book at 30 September 2012, compared to 4.1% at 30 September 2011 and 3.7% on 31 December 2011.
        • High provisions coverage of non-performing loans maintained at 105.2%.
        • Strong funding and liquidity position with a Net Loans to Customer Funds ratio of 109.6%, down from
          110.2% twelve months ago. NBG liquidity ratio of 42.0%, compared to 31.2% a year ago and to 30%
          minimum requirement by the NBG.
        • BIS Tier 1 capital adequacy ratio improved significantly to 20.3%.
        • Book Value per Share increased by 14.5% y-o-y to GEL 28.81 (US$17.36/GBP10.72).
        • Balance Sheet leverage stable at 4.5 times as of 30 September 2012, compared to 4.6 times at 30 September
          2011 and 4.2 times at 30 June 2012.
        • Business highlights
          • Strong performances from each of the Bank’s businesses in Georgia – Corporate Banking and Retail
            Banking reported continued loan growth and improving efficiencies.
          • Retail Banking continues to deliver strong franchise growth, supported by the opening of 25 Express
            branches in the first nine months of 2012.
          • Corporate Banking has delivered strong, well-diversified balance sheet growth over the last 12 months;
            customer lending grew 23.3% and customer deposits grew 19.3%.
          • Wealth Management continued to expand its client franchise with deposits increasing by 65.8% to GEL
            595.3 million over the last 12 months.
          • Excellent progress in developing the Bank’s synergistic businesses: Insurance and Healthcare business
            expansion through acquisition of Imedi L International, the third largest insurance company in Georgia;
            Affordable Housing completed its pilot project of an 123 apartment building; a second 522 apartment
            building project is in progress.

        “I am very pleased that our third quarter performance has reinforced the strong results of the preceding two quarters of the
        year. This reflects a solid performance by each of our businesses. Despite the combination of a seasonally quiet quarter and
        the pre-election period, we experienced growing demand for credit, as reflected in the 4.8% q-o-q growth of our loan book,
        and have further improved our efficiency by bringing the Cost to Income ratio down by a further 1.1 percentage points to
        44.4%. The effects of our recently issued Eurobond, are as expected: the Q3 2012 NIM declined to 7.3%, from 9.0% in Q2
        2012 as a result of the additional interest expense. Balance sheet leverage increased to 4.5 times from 4.2 times at the end of
        previous quarter.

        In the first nine months of 2012 we have delivered strong net profit growth of 30.9% to GEL 132.7 million on the back of
        double digit revenue growth, improved efficiency, as reflected in positive operating leverage, a reduced cost of funding and
        healthy growth rates of our loan book and deposit balances. The cost of credit risk in the third quarter of 2012 increased to
        GEL 14.6 million, compared to GEL 6.6 million in the preceding quarter. This increase largely reflected the impact of a
        number of job reductions made in a large payroll client during the first half of the year and lower level of recoveries in the
        third quarter. Corporate banking provisions were at a low level in the first nine months of 2012.


        In September 2012, Bank of Georgia Holdings hosted its inaugural Investor Day in Tbilisi. It was gratifying for the entire
        Bank of Georgia management team to see the interest and enthusiasm in the Bank of Georgia story as demonstrated by the
        attendance of nearly fifty investors and analysts who traveled to attend our event from different parts of the world.

        We have also recently announced management changes that reflect the evolving needs of our growing company. Following
        his success in the transformation of Aldagi BCI into the country’s leading insurance and healthcare company, Nikoloz
        Gamkrelidze has a new important role to play in the further development of the group in his new role of Group CFO.
        Murtaz Kikoria, a seasoned banker and manager who has spent 4 years with the Bank of Georgia group, brings invaluable
        experience as the new CEO of Aldagi BCI in its next stage of development.

        The macroeconomic environment in Georgia remained robust with GDP growth reaching 7.5% in the first half of 2012.
        Foreign direct investment (FDI) and net remittances have remained strong, and Georgia continues to benefit from a
        substantial increase in tourist revenues, with visitor numbers increasing by 56% in the first nine months of the year to 3.2
        million.

        Following the parliamentary elections in early October, Georgia is currently in the process of what has been a smooth
        transition to a new Government. This has not changed the business priorities and strategies of Bank of Georgia and business
        trends in October have been consistent with our year-to-date performance.

        With the parliamentary elections behind us, an enhanced management team and strong business fundamentals in place we
        look to continuing to deliver value to our shareholders,” commented Irakli Gilauri, Chief Executive Officer of Bank of
        Georgia Holdings PLC and JSC Bank of Georgia.

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        Bank of Georgia Holdings PLC notice of Q3 2012 and nine months ended 30 September 2012 Results

        Bank of Georgia Holdings PLC notice of Q3 2012 and nine months ended 30 September 2012 Results

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        Bank of Georgia announces enhancements to the group management team

        Bank of Georgia announces enhancements to the group management team

        Bank of Georgia Holdings PLC ('BGH') (LSE: BGEO LN), the holding company of JSC Bank of Georgia (the Bank), Georgia's leading bank, announced today that its Board of Directors has appointed Nickoloz (Nick) Gamkrelidze as Bank of Georgia’s Group Chief Financial Officer. Prior to this appointment, Nick Gamkrelidze served as Chief Executive Officer of Aldagi BCI, the Bank’s wholly-owned insurance and healthcare subsidiary. BGH also announces that Murtaz Kikoria, Deputy CEO, Finance, will replace Nick Gamkrelidze as Chief Executive Officer of Aldagi BCI. The composition of the Board of Directors of BGH has not changed
        with these appointments.

        “I am very pleased with the Board’s decision to appoint Nick Gamkrelidze as Group CFO, a position we are happy to have filled by internal promotion. Nick’s financial and leadership skills, combined with his strategic insight will be important contributors to the group’s ongoing development. Aldagi BCI, under Nick’s leadership, grew by approximately four times since 2007 to GEL 309.3 million assets as of 30 June 2012. I am  also delighted that Murtaz Kikoria, who has held various senior positions within the group including Deputy CEO Finance and CEO of BG Bank Ukraine, will now lead the continuous development of the group’s
        insurance and healthcare business with a view to further increasing the contribution and value of Aldagi BCI",
        commented Irakli Gilauri, Chief Executive Officer.

        “These appointments are in line with the Board’s aim to build the strongest possible management team for the group’s growing needs and scale. Following the impressive transformation of Aldagi BCI into the leading insurance and healthcare company in Georgia, we believe Nick has now a wider role to play within the group. At the same time, Aldagi BCI is one of the group’s core assets and the young and capable team at Aldagi BCI will strongly benefit from Murtaz’ experience in the financial sector and his track record of business judgement, professionalism and integrity. On behalf of the entire Board, I would like to congratulate both Nick and Murtaz on their new leadership roles,” commented Neil Janin, Chairman of the Board.

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        Bank of Georgia Investor Day

        Bank of Georgia Investor Day

        You are cordially invited to the Bank of Georgia Investor Day to be held on 10-11 September in Tbilisi, Georgia. This event, held for analysts and investors, will be hosted by the members of Bank of Georgia management team.

        We expect to host a dinner with Senior Management, Regulators and Government Officials on the evening of Monday 10th September followed, on Tuesday 11th September a series of business presentations and site visits. In the evening of Tuesday 11th September Georgia will host Spain in a 2014 Football World Cup qualifier in Tbilisi.

        A more detailed agenda and registration details will be provided in the near future. Please
        make sure to save the date in your calendar.

        Please express your interest in this event by sending an email to ir@bog.ge.

        We look forward to seeing you in Tbilisi!

        Macca Ekizashvili                                                     Michael Oliver
        Tel: +44 7879191919                                              Tel: +44 7801472268
        mekizashvili@bog.ge                                                moliver@bog.ge

        84 Brook Street
        London
        W1K 5EH

        29a Gagarini Street
        Tbilisi 0160

        For more information you can also contact our Investor Relations Department at ir@bog.ge

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        Notice of Investor Conference Call – Georgian Parliamentary Elections

        Notice of Investor Conference Call – Georgian Parliamentary Elections

        Bank of Georgia Holdings plc (BGH) (LSE:BGEO LN), the holding company of JSC Bank of Georgia (the Bank), Georgia’s leading bank, announces that Irakli Gilauri, CEO will answer investors’ questions regarding the political developments in the country on Wednesday, 3 October 2012 at 15.00 UK/ 16:00 CET/ 10:00 U.S. Eastern Time.

        Dial-in numbers :                                                                                 30-Day replay: 

        Pass code for replays / Conference ID: 37570430                              Pass code for replays / Conference ID: 37570430

        UK: +44 (0) 1452 555 566                                                                        International Dial in: +44 (0) 1452 55 00 00

        US: +1 631 510 7498                                                                                  UK National Dial In: 08717000145

        Austria: +43 (0)192 865 68                                                                     UK Local Dial In: 0845 245 5205

        Belgium: +32 (0) 817 000 61                                                                   USA Free Call Dial In: 1866 247 4222

        Czech Republic: +42 (0) 2288 804 60

        Denmark: +45 3272 7625

        Finland: +358 (0) 923 195 187

        France: +33 (0) 176 742 428

        Germany: +49 (0) 692 222 4918

        Hungary: +36 (0) 180 883 03

        Ireland: +353 (0) 143 196 48

        Italy: +39 (0) 236 008 146

        Luxembourg: +352 2088 0695

        Netherlands: +31 (0) 207 176 886

        Norway: +47 2156 3013

        Spain: +34 9141 436 69

        Sweden: +46 (0) 850 336 434

        Switzerland (Geneva): +41 (0) 565 800 007

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        Bank of Georgia sets up an office in Budapest 20 September 2012

        Bank of Georgia sets up an office in Budapest 20 September 2012

        Bank of Georgia Holdings plc (BGH) (LSE: BGEO LN), the holding company of JSC Bank of Georgia (the Bank), Georgia's leading bank, announced today that the Bank has opened an Asset and Wealth Management Representative Office in Budapest, Hungary (the Budapest Representative Office). The Budapest Representative Office, which marks its formal opening today, is the third representative office opened by the Bank’s Asset and Wealth Management operations (AWM). The Tel Aviv and London representative offices have been operating since 2008 and 2010, respectively. The primary objective of the Budapest Representative Office will be the introduction of the Bank’s products to the potential clients from Hungary and other Eastern European countries.

        The opening of the Representative Office in Hungary is in line with the Bank’s strategy of expanding the offering of wealth management deposit products internationally by establishing its presence in selected markets. Irakli Rekhviashvili has been appointed as the Bank’s Representative in Eastern Europe. He is based in Budapest, reporting to Vasil Revishvili, Deputy CEO in charge of the Bank’s Asset and Wealth Management operations. Irakli Rekhviashvili has worked as a Senior Program Manager at Open Society Institute in Hungary for more than 10 years. He previously served as Minister of Economy of Georgia in 2004. Irakli Rekhviashvili holds a Masters Degree in Public Affairs from Princeton University, Woodrow Wilson School of Public and
        International Affairs.

        The Bank’s Asset and Wealth Management business currently serves over 900 clients from more than 50 countries. Client funds attracted by AWM have grown more than three times since year end 2009 to GEL 517 million as of 30 June 2012, of whichapproximately GEL 40 million have been attracted from clients in Hungary.

        "I am very pleased that we have now established our presence in Eastern Europe through the representative office in Hungary. Client funds from Hungary have grown markedly in the past 18 months, accounting for more than seven percent of Asset and Wealth Management total client funds, prompting us to open a representative office in Budapest. The new representative office in Budapest will enable us service the expanding client base in Eastern Europe as we continue to expand our distribution platform.", commented Irakli Gilauri, Chief Executive Officer.

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        Bank of Georgia Holdings hosts investor day in Tbilisi

        Bank of Georgia Holdings hosts investor day in Tbilisi

        Bank of Georgia Holdings plc (BGH) is today hosting an Investor Day for analysts and investors in Tbilisi,
        Georgia.

        As part of the presentation the Bank will update investors on its medium term strategic goals which are
        summarised below:

        • The Bank will continue to focus on the rapidly growing Georgian market
        • Our ‘3x20’ strategy will continue to be targeted over the medium term to deliver
          • A return on average equity of 20%
          • Customer lending and deposit growth of 20% per annum
          • A Tier 1 capital ratio of 20%
        • The Bank will maintain a progressive dividend policy, aiming to further increase its dividend per share
          over time
        • Over the medium term, the net interest margin its expected to be in the 7-7.5% range
        • Positive operating leverage is expected to be maintained over the next 2-3 years, reducing the
          cost/income ratio to close to 40%
        • The loan-to-deposit ratio is expected to be maintained in the 100-110% range over the next 2-3 years
        • The Bank will continue to enhance its already prudent risk management practice
        • The Non-Performing Lending coverage ratio is expected to be in the 90-100% range within one year
        • The Bank’s cost of risk is expected to remain in the 0.8-1.2% range
        • The Bank expects to achieve further capital flexibility from its Insurance and Healthcare, and
          Affordable Housing businesses:
          • In Insurance and Healthcare; to target a return on average equity of 25%+, and net profit of
            GEL16 million in 2012, and GEL24 million in 2013 (2011:GEL 6.5 million). The Bank will
            consider an Initial Public Offering of Aldagi BCI, its Insurance and Healthcare subsidiary, in 2-
            3 years time.
          • In Affordable Housing; to target an internal rate of return of 30%+, aiming to cash out and
            discontinue this business in 2015, following a targeted capital formation of US$25 million from
            2012-2015.

        A full set of the presentation slides can be viewed on the BGH website at:

        http://www.bogh.co.uk/en/274

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        Bank of Georgia Holdings PLC Half-Year Results

        Bank of Georgia Holdings PLC Half-Year Results

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        BOGH notice of 1H 2012 Results

        BOGH notice of 1H 2012 Results

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        Bank of Georgia receives US$25 million loan from IFC

        Bank of Georgia receives US$25 million loan from IFC

        Bank of Georgia Holdings plc. (“BGH”) (LSE: BGEO LN), the holding company of JSC Bank of Georgia (the “Bank”), Georgia’s leading bank, announced today that it is partnering with IFC, a member of the World Bank Group to expand lending to Georgia’s small and medium enterprises, focusing on women-owned businesses, and thus support their financial inclusion and improve competitiveness of the Georgian economy.

        This will be the first IFC’s banking on women facility to be introduced in Georgia and it is expected to have a strong demonstration effect in the market. IFC is providing a US$25 million loan to Bank of Georgia and is considering mobilizing additional funding for the project from other lenders. Through the Bank’s extensive network of 164 branches throughout the country the project is expected to benefit businesses in the regions as well as the capital.

        “Growing the SME loan portfolio remains one of the objectives of the Bank’s Retail Banking segment and I am especially pleased that the newly obtained facility will allow Bank of Georgia to extend financing to women entrepreneurs who play a vital role in the development of the country’s SME sector, and will help to create more job opportunities in the Georgian economy,” said Irakli Gilauri, Bank of Georgia CEO. “I would like to thank the Bank’s long standing partner and shareholder IFC for the continuous collaboration,”

        Thomas Lubeck, IFC Regional Manager, South Caucasus, said, “This agreement will help small and medium enterprises in Georgia continue to expand and modernize. Women-owned businesses represent an untapped market for financial institutions and this project will encourage lending to women entrepreneurs, helping improve the lives of a wide section of society.”

        IFC supports female entrepreneurship as an important part of its mission to foster sustainable private sector growth in developing countries. IFC works with financial institutions to expand financial services to women entrepreneurs through specialized credit lines, market analyses, and capacity building. IFC launched its Banking on Women program in Europe and Central Asia in 2011 to support lending to women through financial intermediaries.

        IFC is a shareholder of Bank of Georgia Holdings PLC, which took a premium listing on the London Stock Exchange (LSE) on February 28th, 2012.

        Georgia has been a member of IFC since 1995. IFC’s cumulative investments in the country to date total $660 million in  42 projects across various sectors. IFC Advisory Services projects in Georgia focus on reforming the tax system to benefit small businesses, helping raise food safety standards, and strengthening the risk-management practices of banks.

        About IFC
        IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit www.ifc.org

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        Bank of Georgia issues US$250 million Eurobond

        Bank of Georgia issues US$250 million Eurobond

        NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, JAPAN OR THE UNITED
        STATES EXCEPT, IN THE CASE OF THE UNITED STATES, TO PERSONS REASONABLY BELIEVED TO BE QUALIFIED
        INSTITUTIONAL BUYERS (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT (AS DEFINED
        BELOW)), AND IN THE CASE OF OTHER JURISDICTIONS, AS PERMITTED BY APPLICABLE LAW

        This announcement does not contain, constitute or form part of any offer or invitation to sell or subscribe or any
        solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, and neither this announcement (nor
        any part of it) nor the fact of its distribution form the basis of, or may be relied upon in connection with, or act as any
        inducement to enter into, any contract or commitment whatsoever.


        Bank of Georgia Holdings plc ('BGH') (LSE: BGEO LN), the holding company of JSC Bank of Georgia (the 'Bank'),
        Georgia's leading bank, announced today that the Bank has completed the issuance of its US$250 million 7.75% Notes due
        2017 (the 'Notes'). The Regulation S / Rule 144A 5-year senior unsecured Notes carry a 7.75% coupon rate per annum,
        paid semi-annually, and were issued and sold at closing at a price of 99.491% of principal amount on 5 July 2012. Credit
        Suisse Securities (Europe) Limited, J.P. Morgan Securities Ltd. and Merrill Lynch International acted as Joint Lead
        Managers and Bookrunners for the Notes. Dechert LLP and Baker & McKenzie LLP acted as legal advisors to the Joint
        Lead Managers and the Bank, respectively. The Notes are rated BB- (Fitch) / Ba3 (Moody's) / BB- (Standard & Poor's).
        The Notes are listed on the Official List of the UK Listing Authority and admitted to trading on the London Stock
        Exchange's Regulated Market.

        "We are very pleased to have completed this Eurobond transaction in the current market conditions. Over 50 institutional
        investors from the US, UK, Switzerland, Italy, and other European countries placed orders. The bond issue, the net
        proceeds of which will be used, among other things, for general working capital purposes, will help us to optimize our
        average cost of funding. I would like to thank my colleagues and our advisors and congratulate them upon the successful
        completion of the deal", commented Irakli Gilauri, Chief Executive Officer.

        DISCLAIMER:

        This announcement is an advertisement and not a prospectus and investors should not subscribe for or purchase any
        securities referred to in this announcement except on the basis of information contained and/or incorporated by reference in
        the final prospectus published by JSC Bank of Georgia in connection with the offer referred to above.

        The securities referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as
        amended (the 'Securities Act'), or under the securities law of any state or other jurisdiction of the United States and may
        not be offered, sold or delivered, directly or indirectly, in or into the United States or to U.S. persons, except pursuant to an
        applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. No public
        offering of the securities will be made in the United States.

        In the United Kingdom, the offer is only being made pursuant to the final prospectus.
        The offer is being made in accordance with the requirements of Georgian law. This announcement is not an advertisement
        of any securities for the purposes of Georgian law.

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        Bank of Georgia announces the launch of research

        Bank of Georgia announces the launch of research

        Bank of Georgia Holdings plc. (“BGH”) (LSE: BGEO LN), the holding company of JSC Bank of Georgia (the “Bank”), Georgia’s leading bank, announced today the launch of research services with an aim to provide comprehensive insight of the under-researched Georgian market to institutional and private investors (including our wealth management clients). The move will support the Bank’s corporate and wealth management business lines in attracting more investments into the country. The Bank’s research business will operate under the name of Bank of Georgia Research. 

        The Bank also announces the appointment of Ms Ekaterina Gazadze as Head of Bank of Georgia Research. Before her
        employement with Bank of Georgia, Ekaterina Gazadze served as an equity research analyst at Renaissance Capital covering metals and mining sector in Kazakhstan. She also worked at the EBRD's Tbilisi and London offices where she worked on transactions involving debt and private equity investments. Ekaterina’s previous experience also includes statistics department of Georgia and private equity fund focused on Central Asia. Ekaterina Gazadze received her graduate degree in Economics from Georgian Technical University and MSc in Investment Management from Cass Business School.

        “I am truly excited about the launch of Bank of Georgia Research that is committed to providing its clients with the high quality, in-depth research coverage of the under-researched sectors and investment opportunities presented by the growing Georgian economy. I am looking forward to working with research, corporate and asset and wealth management teams in building a more sophisticated platform for our current and future clients and investors,” commented Irakli Gilauri, Chief Executive Officer.

        If you are interested to subscribe to our research services please send your expression of interest to the following email:
        research@bog.ge


        Please see the link to our first sector research:  Give Green Light to Water

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        Dividend Announcement

        Dividend Announcement

        On 7 June 2012, the Directors of Bank of Georgia Holdings PLC (the Company) (LSE: BGEO LN), the holding company of JSC Bank of Georgia (the Bank), Georgia's leading bank, announced that they had declared an interim dividend of Georgian Lari 0.70 per share, payable to ordinary shareholders of the Company in British Pounds Sterling pursuant to the following timetable:

        Interim Dividend Declaration  7 June 2012 
        Ex-dividend Date  13 June 2012 
        Record Date   15 June 2012
        Currency Conversion  Date 25 June 2012 
        Payment Date 2 July 2012 


        The Company hereby confirms that the National Bank of Georgia Georgian Lari/British Pounds Sterling exchange rate as of 25 June 2012 is 2.5626 and shall be used to pay dividends to ordinary shareholders of the Company on 2 July 2012. Those shareholders who have not provided their appropriate bank account details to Computershare Investor Services PLC for payment of the dividend will be paid the dividend by cheque in British Pounds Sterling.

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        Dividend Announcement

        Dividend Announcement

        In the Notice of Annual General Meeting dated 2 May 2012, Bank of Georgia Holdings PLC (the Company) (LSE: BGEO LN), the holding company of JSC Bank of Georgia (the Bank), Georgia's leading bank, reconfirmed that it would retain the dividend policy previously approved by the Supervisory Board of the Bank.

        As a holding company whose principal assets are the shares of its subsidiaries, the Company relies primarily on dividends from its subsidiaries to generate reserves necessary to pay dividends to its shareholders. As a result of the Bank’s strong financial performance and condition, the Supervisory Board of the Bank recommended an annual dividend in the amount of GEL 0.70 per share, which was subsequently approved by shareholders at the Bank’s Annual General Meeting on 24 May 2012.

        Today, the Directors of the Company have declared an interim dividend of Georgian Lari 0.70 per share, payable to ordinary shareholders of the Company in British Pounds Sterling pursuant to the following timetable:

        Interim Dividend Declaration  7 June  2012 
        Ex-dividend Date  13 June 2012
        Record Date  15 June 2012 
        Currency Conversion Date  25 June 2012 
        Payment Date  2 July 2012 

        The most secure method of paying dividends is by direct credit into a nominated bank account. Ordinary shareholders who have not already done so should provide appropriate bank account details to the Company's Registrar: Computershare Investor Services PLC, The Pavilions, Bridgwater Road, Bristol, BS99 6ZY. Those shareholders who do not take advantage of the direct credit facility will be paid the dividend by cheque in British Pounds Sterling.

        Bank of Georgia To Enter FTSE 250 and FTSE All-Share Indices

        Bank of Georgia To Enter FTSE 250 and FTSE All-Share Indices

        Bank of Georgia Holdings PLC (LSE: BGEO LN), (the “Company” ), the holding company of JSC Bank of Georgia and its subsidiaries (the "Bank"), Georgia's leading bank, welcomes yesterday’s announcement by the FTSE that the Company’s shares will be included in both the FTSE 250 Index and the FTSE All Share Index from 15 June 2012.

        In order to qualify for membership of the FTSE 250 Index, the Bank has been required to meet a number of criteria, which cover factors such as market capitalisation, free float and average daily trading. The Company believes that its shares are now likely to be added to the holdings of FTSE 250 and FTSE All Share Index Funds, creating further significant improvements in the liquidity of its securities.

        Irakli Gilauri, 36, Chief Executive Officer of Bank of Georgia Holdings plc, commented:

        “Our inclusion in both the FTSE 250 and FTSE All-Share Indices is another major step forward for Bank of Georgia to further increase the liquidity of our shares and our profile in international capital markets, following our Premium Listing in February 2012. Through our UK-incorporated holding company and with our strong track record on corporate governance, we offer UK and emerging market institutional investors access to the fast-growing Georgian economy and banking sector; we are unique among FTSE banks not only because of our emerging markets focus but also because of the strength of our balance sheet with a 23% core Tier I ratio (BIS basis), our high levels of liquidity and profitability and our growth prospects.

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        JSC Bank of Georgia Announces Termination of Deposit Agreement and De-listing of GDRs

        JSC Bank of Georgia Announces Termination of Deposit Agreement and De-listing of GDRs

        Following the expiry of the 90-day notice period given by JSC Bank of Georgia (the Bank) to terminate the deposit agreement (the Deposit Agreement) in respect of all outstanding global depositary receipts (GDRs) in accordance with its terms, the Deposit Agreement has been terminated with effect from today.

        Pursuant to the terms of the Deposit Agreement, holders of GDRs are required to pay a cancellation fee of US$0.05 per GDR in connection with the cancellation of the GDRs and the termination of the Deposit Agreement. The Bank will pay this fee on behalf of outstanding GDR holders.

        Following the announcements by the Bank on 8 March 2012 and 1 May 2012 of its applications for the cancellation of the listing of the GDRs on the Official List and the cancellation of the admission of the GDRs to trading on the London Stock Exchange (the LSE) and the publication today of the relevant notices by the Financial Services Authority and the LSE, the Bank announces that the listing of all of its GDRs on the Official List and the admission of its GDRs to trading on the LSE have been cancelled with immediate effect.

        Remaining GDR holders are referred to the notice provided by The Bank of New York Mellon (as Depositary) on 5 April 2012 regarding the consequences of cancellation and termination. The Depositary can be contacted on telephone number 1- 888-BNY-ADRS (1-888-269-2377) for further information in connection with this.

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        BGH Announces Termination of Deposit Agreement and De-listing of GDRs

        BGH Announces Termination of Deposit Agreement and De-listing of GDRs

        Download

        BGH Announces Termination of Deposit Agreement and De-listing of GDRs

        BGH Announces Termination of Deposit Agreement and De-listing of GDRs

        Bank of Georgia Holdings plc (BGH) announces that, following the expiry of the 90-day notice period given by JSC Bank
        of Georgia (the Bank) to terminate the deposit agreement (the Deposit Agreement) in respect of all of the Bank's
        outstanding global depositary receipts (GDRs) in accordance with its terms, the Deposit Agreement has been terminated
        with effect from today.

        Pursuant to the terms of the Deposit Agreement, holders of the Bank's GDRs are required to pay a cancellation fee of
        US$0.05 per GDR in connection with the cancellation of the GDRs and the termination of the Deposit Agreement. The
        Bank will pay this fee on behalf of outstanding GDR holders.

        Following the announcements by the Bank on 8 March 2012 and 1 May 2012 of its applications for the cancellation of the
        listing of the Bank's GDRs on the Official List and the cancellation of the admission of the Bank's GDRs to trading on the
        London Stock Exchange (the LSE) and the publication today of the relevant notices by the Financial Services Authority
        and the LSE, BGH announces that the listing of all of the Bank's GDRs on the Official List and the admission of the Bank's
        GDRs to trading on the LSE have been cancelled with immediate effect.

        Remaining holders of the Bank's GDRs are referred to the notice provided by The Bank of New York Mellon (as
        Depositary) on 5 April 2012 regarding the consequences of cancellation and termination. The Depositary can be contacted
        on telephone number 1-888-BNY-ADRS (1-888-269-2377) for further information in connection with this.

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        BGH AGM Results Announcement

        BGH AGM Results Announcement

        Download

        Update on Current Strong Financial Perfomance

        Update on Current Strong Financial Perfomance

        Bank of Georgia Holdings plc. (“BGH”) (LSE: BGEO LN), the holding company of JSC Bank of Georgia (the “Bank”), Georgia’s leading bank, announced today that during the first five months of 2012, the Bank has continued to deliver strong financial performance throughout the business. In April and May 2012, the Bank has built on the performance trends delivered in the first quarter of the year and, in particular, has continued to substantially reduce its cost of deposits leading to an increased net interest margin, which is currently running over the 8% level.

        Operating costs continue to be well controlled and impairments are currently trending at similar levels to those in the first quarter of 2012. As a result, the Bank believes that it will deliver an earnings performance for 2012 above our previous expectations.

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        JSC Bank of Georgia Announces Result of AGM May 2012

        JSC Bank of Georgia Announces Result of AGM May 2012

        JSC Bank of Georgia (LSE: BGEO GSE: GEB), the leading Georgian universal bank (“the Bank”), announced today that all the resolutions put to shareholders at the Annual Meeting of Shareholders (“AGM”) held on 24 May, 2012 were passed by the required majority. These resolutions are contained in the Notice of the AGM dated 3 May 2012, a copy of which as well as other documents pertaining to the AGM is available on the Bank of Georgia website (www.bankofgeorgia.ge/ir) or upon request from the Bank at its registered office: 29a Gagarini Street, Tbilisi, Georgia, 0160.

        The total number of voting shares in issue as of the record date of the AGM (23 April, 2012) was 36,512,553. 98.38% of total voting shares were present and/or represented at the AGM. The following resolutions were adopted at the AGM:

        1. Approval of the consolidated audited results for fiscal year 2011 of the Bank by Ernst & Young
        2. Approval of the Management Board Report on the performance of the Bank for the fiscal year 2011 and
          acknowledgement of the plans and strategy of the Bank as presented by the Management Board
        3. Approval of the extension of the term of the Supervisory Board member – Mr. Kaha Kiknavelidze to
          additional four years period
        4. Approval of the joint proposal of Management and Supervisory Board on allocation of the profit for the year
          of 2011 and distribution of part of the profit as dividends - in the amount of GEL 0.70 per outstanding share
          of Bank of Georgia
        5. Approval of the setting 8 June 2012 (06.00 PM) as the Dividend Record Date (as per section 5.2.1 of the
          charter)
        6. Approval of the setting 25 June 2012 as the Dividend Payout Start Date (as per section 5.2.1 of the charter)
        Download

        JSC Bank of Georgia: Annual Information Update for 12 months up to and including 17 May, 2012

        JSC Bank of Georgia: Annual Information Update for 12 months up to and including 17 May, 2012

        Download

        JSC Bank of Georgia interim consolidated financial statements - 31 March 2012

        JSC Bank of Georgia interim consolidated financial statements - 31 March 2012

        JSC Bank of Georgia announcement - Fixed Income

        JSC Bank of Georgia announcement - Fixed Income

        Not for release, directly or indirectly, in or into the United States, Australia, Canada or Japan.

        JSC Bank of Georgia, the largest bank in Georgia, has mandated Bank of America Merrill Lynch, Credit Suisse and J.P.
        Morgan for a series of fixed income investor meetings to take place from 17-22 May in Europe and the US. A USDdenominated
        144A/Reg S benchmark, which is expected to be rated Ba3/BB-/BB-, will follow subject to market
        conditions. FSA/ICMA stabilisation applies.

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        Bank of Georgia announces Q1 2012 results

        Bank of Georgia announces Q1 2012 results

        Download

        BGH Q1 2012 Resullts

        BGH Q1 2012 Resullts

        Download

        Bank of Georgia Holdings PLC notice of Q1 2012 results

        Bank of Georgia Holdings PLC notice of Q1 2012 results

        Bank of Georgia Holdings PLC notice of Q1 2012 results

        Bank of Georgia Holdings PLC notice of Q1 2012 results

        Bank of Georgia Holdings plc will publish its financial results for Q1 2012 at 07:00 London time on Tuesday, 8 May 2012. The results announcement and presentation will be available on Bank of Georgia Holdings plc’s website at http://www.bogh.co.uk. An investor/analyst conference call, organised by Bank of Georgia Holdings Plc, will be held on Tuesday, 8 May 2012, at 14:00 UK / 15:00 CET / 09:00 U.S. Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

        Dial-in numbers :                                                                                   14-Day replay: 

        Pass code for replays / Conference ID: 77649065                               Pass code for replays / Conference ID: 77649065#

        UK: +44 (0) 1452 555 566                                                                         International Dial in: +44 (0) 1452 55 00 00

        US: +1 631 510 7498                                                                                   UK Free Call Dial In: 0800 953 1533

        Austria: +43 (0)192 865 68                                                                      UK Local Dial In: 0845 245 5205

        Belgium: +32 (0) 817 000 61                                                                    USA Free Call Dial In: 1866 247 4222

        Czech Republic: +42 (0) 2288 804 60                                                     

        Denmark: +45 3272 7625

        Finland: +358 (0) 923 195 187

        France: +33 (0) 176 742 428

        Germany: +49 (0) 692 222 4918

        Hungary: +36 (0) 180 883 03

        Ireland: +353 (0) 143 196 48

        Italy: +39 (0) 236 008 146

        Luxembourg: +352 2088 0695

        Netherlands: +31 (0) 207 176 886

        Norway: +47 2156 3013

        Spain: +34 9141 436 69

        Sweden: +46 (0) 850 336 434

        Switzerland (Geneva): +41 (0) 565 800 007

        For further information, please visit http://www.bogh.co.uk or contact:

        Macca Ekizashvili, Head of Investor Relations Tel: + 44 203 1784052; ir@bog.ge

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        JSC Bank of Georgia announces the acquision of a controlling interest in Imedi L insurance company

        JSC Bank of Georgia announces the acquision of a controlling interest in Imedi L insurance company

        Bank of Georgia Holdings plc. (“BGH”) (LSE: BGEO LN), the holding company of JSC Bank of Georgia (the “Bank”), Georgia’s leading bank, announced today that JSC Insurance Company Aldagi BCI (“Aldagi BCI”), a wholly-owned insurance subsidiary of the Bank, has acquired Meta Limited, the holding company which owns 51% of Imedi L, the third largest insurance and healthcare business in Georgia. In addition, the European Bank for Reconstruction and Development (EBRD), a 34% shareholder of Imedi L, has also sold its stake in Imedi L to Aldagi BCI, bringing Aldagi BCI’s ownership of Imedi L to 85%.

        The gross assets of Imedi L, the business acquired, totalled GEL 68.0 million at 31 December 2011, with net assets estimated by Aldagi BCI amounting to approximately GEL 8.0 million as 31 March 2012. The purchase price paid in cash for 85% equity interest in Imedi L translates into the valuation of approximately one time the net asset value.

        As part of the transaction, the Bank has agreed a capital injection of GEL 32.5 million into Aldagi BCI to ensure that Imedi L has sufficient capital and liquidity to meet its existing hospital construction obligations and is well capitalised for its expected future growth.

        As of 30 September 2011, according to the most recently published market data by the National Bank of Georgia, Aldagi BCI had a market share of 17.1 % (Gross Written Premiums: GEL 45.0 million in the first nine months of 2011) of the Georgian insurance market and Imedi L had a market share of 16.3% (Gross Written Premiums: GEL 42.8 million in the first nine months of 2011). The combined business, with a market share of 33.4%, will be the clear leader in the Georgian insurance market, with a substantial increase in its retail client base of approximately 220,000 clients to a combined total of 420,000 retail clients. By the end of 2012, the combined Aldagi BCI and Imedi L healthcare businesses are expected to own hospitals with a total of nearly 1200 beds, an increase of approximately 400 beds during 2012.

        The Bank will provide further details on the acquisition at BGH’s Q1 2012 earnings call intended to be held in the first half of May 2012.

        Irakli Gilauri, Chief Executive Officer of Bank of Georgia Holdings plc commented: “This is a significant acquisition in the growing, but still significantly underpenetrated, Georgian insurance market, allowing Aldagi BCI to significantly increase its market share immediately. Aldagi BCI has an excellent track record in integrating insurance and healthcare companies in Georgia. We are targeting to integrate Imedi L business with Aldagi BCI by the end of the year. The combined business puts us in great shape to achieve our strategic aim of the Insurance and Healthcare business becoming 10% of the Bank’s earnings over the next few years.”

        Nick Gamkrelidze, Chief Executive Officer of Aldagi BCI commented: “This acquisition is in line with our strategy to increase our market share of the Georgian insurance market and to enlarge our health insurance and healthcare businesses to achieve greater synergies. We expect to deliver significant cost synergies, almost double our share of the insurance market in Georgia, and achieve a substantial enlargement of our healthcare business in both western and eastern Georgia as a result of the purchase of Imedi L.”

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        JSC Bank of Georgia AGM Agenda and Recommendations May 2012

        JSC Bank of Georgia AGM Agenda and Recommendations May 2012

           TO THE ATTENTION OF THE SHAREHOLDERS OF JSC BANK OF GEORGIA

        The Annual General Meeting (the “AGM”) of the shareholders of JSC Bank of Georgia (the
        “Bank”) is scheduled to be held on 24 May 2012, at 15:00. The agenda of the meeting is as follows:

        1. On the consolidated audited results for fiscal year 2011;
        2. On the Management Board report on the performance of the Bank in 2011 and its future plans
          and strategy;
        3. On election of Mr. Kaha Kiknavelidze to the Supervisory Board of the Bank;
        4. On the profit allocation (distribution of dividends);
        5. On setting the Dividend Record Date;
        6. On setting the Dividend Payout Start Date.

        With respect to the items included in the agenda of the AGM to be held on 24 May 2012, the
        Management Board and the Supervisory Board of the Bank recommend the following:

        With respect to the first item of the agenda:

        1. Approve the consolidated audited financial results for 2011 of the Bank audited by Ernst & Young.

        With respect to the second item of the agenda:

        1. Approve Management Report on the performance of the Bank for the fiscal year 2011;

        2. Acknowledge the plans and strategy of the Bank as presented in the Management Report.

        With respect to the third item of the agenda:

        1. Extend the term of the Supervisory Board member - Mr. Kaha Kiknavelidze to additional 4 years
          period.

        With respect to the fourth item of the agenda:

        1. Approve the joint proposal of Management and Supervisory Board on allocation of the profit for the
          year of 2011 and distribute part of the profit as dividends - in the amount of GEL 0.70 per outstanding
          share of Bank of Georgia.

        With respect to the fifth item of the agenda:

        1. Set June 8, 2012 (6.00 p.m.) as Dividend Record Date (as per section 5.2.1 of the charter).

        With respect to the sixth item of the agenda:

        1. Set June 25, 2012 as Dividend Payout Start Date (as per section 5.2.2 of the charter).

        The AGM will be held at Sheraton Metechi Palace Hotel, Conference Room Odishi, 20 Telavi
        Street, Tbilisi, 0103, Georgia.

        The registration of shareholders will start on 24 May 2012 at 14:00.

        The record date of the AGM is 23 April, 2012.

        The rights of the shareholders to participate in the meeting may be checked from 14 May 2012 with
        the share registrar of JSC Bank of Georgia – JSC Kavkasreestri, at 74a Chavchavadze Avenue,
        Tbilisi, Georgia.

        Download

        BGH Notice of AGM

        BGH Notice of AGM

        Notice of Annual General Meeting

        Bank of Georgia Holdings plc (the Company) announces that its 2012 Annual General Meeting will be held on Friday 1 June 2012 at 11.00 am at Oriel Securities, 7th Floor, 150 Cheapside, London EC2V 6ET.

        In connection with this, the following documents have been posted or made available to shareholders today:

        1. Notice of 2012 Annual General Meeting (AGM Notice); and

        2. Proxy form for the 2012 Annual General Meeting.

        The AGM Notice is also available on our website www.bogh.co.uk.

        As the Company was incorporated on 14 October 2011, the Board have elected to prepare the first annual accounts for the Company for the period from incorporation to 31 December 2012 and therefore, no annual report and accounts for the period ended 31 December 2011 have been prepared. Nevertheless audited consolidated financial statements for the year ended 31 December 2011 have been prepared for the Company’s principal operating subsidiary, JSC Bank of Georgia (the
        Bank), and are available on both the Bank and Company websites, www.bankofgeorgia.ge/ir and www.bogh.co.uk. Shareholders will be given the opportunity to ask questions on the content of the Bank’s financial statements, and the business of the group as a whole, at the Annual General Meeting.

        In accordance with Listing Rule 9.6.1, copies of the above documents have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.Hemscott.com/nsm.do

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        Intention to cancel listing of GDRs of JSC Bank of Georgia

        Intention to cancel listing of GDRs of JSC Bank of Georgia

        Following the announcement by Bank of Georgia Holdings Plc and JSC Bank of Georgia (the Bank) on 8 March 2012 that the Bank had served notice on The Bank of New York Mellon (the Depositary) to terminate the deposit agreement (the Deposit Agreement) in respect of all outstanding global depositary receipts (GDRs) and that it intends to terminate the GDR program and delist the GDRs concurrently with termination of the Deposit Agreement, BGH hereby announces that the Bank has applied for the cancellation of the listing of the GDRs on the Official List, which will result in the cancellation of trading of the GDRs on the London Stock Exchange, to take effect on 6 June 2012.

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        JSC Bank of Georgia AGM Notice 12 April 2012

        JSC Bank of Georgia AGM Notice 12 April 2012

        Management Board of JSC Bank of Georgia announces that Annual General Meeting of Shareholders of JSC Bank of Georgia is intended to be held in May 2012.

        According to the resolution of the Supervisory Board of Bank of Georgia record date is 23 April, 2012.

        The agenda and recommendations, as well as place, date and time of Annual General Meeting of Shareholders to be determined later in accordance with applicable laws.

        Management Board of JSC Bank of Georgia

        Download

        Bank of Georgia and Subsidiaries Consolidated Statements 2011

        Bank of Georgia and Subsidiaries Consolidated Statements 2011

        Download

        Changes in the JSC Bank of Georgia Management Team

        Changes in the JSC Bank of Georgia Management Team

        Bank of Georgia Holdings plc (“BGH”) and JSC Bank of Georgia (the “Bank”), the leading bank in Georgia, announce that George Tchiladze (Giorgi Chiladze) has stepped down as Deputy Chief Executive Officer (Deputy CEO) Finance and has resigned as a member of the Management Board of JSC Bank of Georgia. BGH and the Bank also announce that Murtaz Kikoria, Deputy CEO who has been in charge of Investment and Strategic Projects since June 2011, has replaced Giorgi Tchiladze as Deputy CEO Finance. Murtaz Kikoria has been with the Bank since August 2008. 

        “The JSC Bank of Georgia Board and I would like to thank Giorgi for his significant contribution during the 

        important period in the Bank’s development of the past three years and we wish him all the best for the future. I would also like to congratulate Murtaz on this appointment and his increased responsibility as Deputy CEO in charge of Finance. Murtaz brings almost 20 years of banking experience and the last three years spent at several senior/managerial positions in the Bank of Georgia group will ensure full continuity of the Bank’s development. I am looking forward to working with Murtaz in his new capacity”, commented Irakli Gilauri, CEO of Bank of Georgia.


        Murtaz Kikoria joined JSC Bank of Georgia in August 2008 as Deputy CEO (Compliance) and immediately prior to today’s appointment has served as Deputy CEO (Investments and Strategic Projects) since June 2011. From June 2009 to June 2011, Mr Kikoria has served as CEO of BG Bank, the Bank’s Ukrainian banking subsidiary. From 2005 to 2007, Mr Kikoria served as Senior Banker at the European Bank for Reconstruction and Development (EBRD). Prior to joining EBRD, Mr. Kikoria served as Head of Banking Supervision and Regulation at the National Bank of Georgia from 2001 and 2005, having previously held various senior positions at United Georgian Bank and SilkRoad Bank. Mr Kikoria received an undergraduate degree from Tbilisi State University in Economics, specializing in Finance and Credit. Mr Kikoria also serves as a Chairman of BNB, the Bank’s banking subsidiary in Belarus.

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        Capital Reduction

        Capital Reduction

        Bank of Georgia Holdings plc ("BGH") announces that the reduction of capital described in the Prospectus issued by BGH on 20 December 2011 (the "Reduction of Capital") has today been approved by the High Court of Justice of England and Wales (the "Court").

        The Court Order approving the Reduction of Capital has been registered with the Registrar of Companies today and accordingly the Reduction of Capital has now become effective. The nominal value of each of the ordinary shares in the capital of BGH (the "BGH Shares") has been reduced from £6.00 to £0.01 and the Reduction of Capital has created distributable reserves of approximately £299.5 million for BGH.

        The Reduction of Capital is a legal and accounting adjustment and is not expected to have any direct impact on the market value of the BGH Shares.



        DISCLAIMER:

        This announcement does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of, any securities.

        The securities of BGH referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States unless they are registered with the U.S. Securities and Exchange Commission or an exemption from the registration requirements of the Securities Act is available.

        The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.

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        Bank of Georgia Holdings PLC announces Q4 2011 and FY 2011 results of JSC Bank of Georgia

        Bank of Georgia Holdings PLC announces Q4 2011 and FY 2011 results of JSC Bank of Georgia

        Download

        Notice of Q4 and full year 2011 results of JSC Bank of Georgia

        Notice of Q4 and full year 2011 results of JSC Bank of Georgia

        Bank of Georgia Holdings plc, (LSE: BGEO LN), a holding company of JSC Bank of Georgia announces that JSC Bank of Georgia will publish its financial results for Q4 2011 and full year 2011 at 07:00 London time on  Tuesday, 20 March 2012. The Results announcement will be available on Bank of Georgia's website www.bankofgeorgia.ge/ir. An investor/analyst conference call, organized by Bank of Georgia, will be held on Wednesday, 21 March 2012, at 14:00 UK / 15:00 CET / 10:00 U.S. Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

         
        Dial-in numbers :                                                                        14-Day replay:

        Pass code for replays / Conference ID: 63576945                        Pass code for replays / Conference ID: 63576945#~

        UK: +44 (0) 1452 555 566                                                                 International Dial in: +44 (0) 1452 55 00 00

        US: +1 631 510 7498                                                                           UK Free Call Dial In: 0800 953 1533 

        Austria: +43 (0)192 865 68                                                               UK Local Dial In: 0845 245 5205 

        Belgium: +32 (0) 817 000 61                                                             USA Free Call Dial In: 1866 247 4222 

        Czech Republic: +42 (0) 2288 804 60

        Denmark: +45 3272 7625

        Finland: +358 (0) 923 195 187

        France: +33 (0) 176 742 428

        Germany: +49 (0) 692 222 4918

        Hungary: +36 (0) 180 883 03

        Ireland: +353 (0) 143 196 48

        Italy: +39 (0) 236 008 146

        Luxembourg: +352 2088 0695

        Netherlands: +31 (0) 207 176 886

        Norway: +47 2156 3013

        Spain: +34 9141 436 69

        Sweden: +46 (0) 850 336 434

        Switzerland (Geneva): +41 (0) 565 800 007

        For further information, please visit www.bog.ge/ir or contact:

        Macca Ekizashvili, Head of Investor Relations Tel: + 995 322 444 256; ir@bog.ge

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        JSC Bank of Georgia: Notice of Termination of Deposit Agreement and Cancellation of GDRs

        JSC Bank of Georgia: Notice of Termination of Deposit Agreement and Cancellation of GDRs

        NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN
        OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.

        This announcement does not contain, constitute or form part of any offer or invitation to sell or subscribe or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, and neither this announcement (nor any part of it) nor the fact of its distribution form the basis of, or may be relied upon in connection with, or act as any inducement to enter into, any contract or commitment whatsoever.


        On 20 December 2011, Bank of Georgia Holdings plc (“BGH”) announced the launch of its tender offer (the "Tender Offer") to acquire the entire issued and to be issued share capital, including those shares represented by GDRs, of JSC Bank of Georgia (the "Bank”), the leading bank in Georgia. The Tender Offer expired on 24 February 2012.

        On 28 February 2012, BGH announced that valid acceptances had been received in respect of approximately 98% of the Bank’s issued and outstanding share capital and the Tender Offer was declared unconditional in all respects.

        At 8:00 am on 28 February 2012, BGH's shares were admitted to the premium listing segment on the Official List of the UK Listing Authority (the "Official List") and to trading on the London Stock Exchange plc's Main Market for listed securities (together, “Admission”) under the ticker symbol BGEO.LN. Following the closing of the Tender Offer and Admission, the Bank is now a subsidiary of BGH. 


        Termination of Deposit Agreement and Cancellation of GDRs

        As the Tender Offer received wide acceptance from investors, with 98.35% of the Bank's issued and to be issued share capitalsuccessfully exchanged into BGH shares, the Bank has decided to terminate its GDR programme and to delist the GDRs. 


        Accordingly, the Bank has served notice on The Bank of New York Mellon (the "Depositary") to terminate the deposit agreement in respect of the GDRs (the "Deposit Agreement"), with such termination to take effect, following the expiration of the 90-day notice period, on 6 June 2012. The Bank intends to apply for the cancellation of the listing of the GDRs on the Official List and for the cancellation of trading of the GDRs on the London Stock Exchange plc's Main Market for listed securities to take effect concurrently with the termination of the Deposit Agreement. 


        Pursuant to the terms of the Deposit Agreement, holders of GDRs are required to pay a cancellation fee of US$0.05 per GDR in connection with the termination of the Deposit Agreement. The Bank has agreed to pay this fee on behalf of outstanding GDR holders, being those who hold GDRs on the date that the termination of the Deposit Agreement takes effect (i.e. 6 June 2012).



        DISCLAIMER:

        The information contained in this announcement is for background purposes only and does not purport to be full or complete. The information in this announcement is subject to change.

        ING, which is authorised and regulated in the United Kingdom by the Financial Services Authority (the "FSA"), acted exclusively for the Bank and BGH and no-one else in connection with the Admission and the Tender Offer. ING will not regard any other person (whether or not a recipient of this announcement) as a client in relation to the Admission or the Tender Offer and will not be responsible to anyone other than the Bank and BGH for providing the protections afforded to clients of ING, or for providing advice in relation to the Admission, the Tender Offer or any other matters described in this announcement.

        The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under the securities law of any state or other jurisdiction of the United States and may not be offered, sold or delivered, directly or indirectly, in or into the United States or to U.S. persons, except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. No public offering of the securities has been or will be made in the United States.

        This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Bank's and BGH's control and all of which are based on its directors' current beliefs and expectations about future events. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Bank's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Bank's business, results of operations, financial position, liquidity, prospects, growth and strategies. Forward-looking statements speak only as of the date of this announcement and cannot be relied upon as a guide to future performance.

        Each of the Bank, BGH and ING and their respective affiliates expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this announcement whether as a result of new information, future developments or otherwise, unless required to do so by applicable law, the Prospectus Rules, the Listing Rules or the Disclosure and Transparency Rules of the FSA.

        This announcement is not an advertisement of any securities for the purposes of Georgian law.

        Neither ING, nor any of its respective directors, officers, employees, advisors or agents accepts any responsibility or liability whatsoever for/or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to BGH, the Bank or their subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of the announcement or its contents or otherwise arising in connection therewith.

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        Bank of Georgia Holdings PLC successfully completes tender offes shares to begin trading

        Bank of Georgia Holdings PLC successfully completes tender offes shares to begin trading

        Download

        Bank of Georgia Holdings plc successfully completes Tender Offer Shares to begin trading

        Bank of Georgia Holdings plc successfully completes Tender Offer Shares to begin trading

        Download

        JSC Bank of Georgia announces the EBRD and IFC loan conversion

        JSC Bank of Georgia announces the EBRD and IFC loan conversion

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        JSC Bank of Georgia provides update on Tender Offer acceptance

        JSC Bank of Georgia provides update on Tender Offer acceptance

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        JSC Bank of Georgia Assigned 'ilA' Standard & Poor's Maalot (Israel) National Scale Rating

        JSC Bank of Georgia Assigned 'ilA' Standard & Poor's Maalot (Israel) National Scale Rating

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        JSC Bank of Georgia announces the appointment of Oriel Securities as Joint Corporate Broker

        JSC Bank of Georgia announces the appointment of Oriel Securities as Joint Corporate Broker

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        JSC Bank of Georgia announces Tender Offer Information for GDR holders

        JSC Bank of Georgia announces Tender Offer Information for GDR holders

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        JSC Bank of Georgia Notice of Redemption of Loan Participation Notes

        JSC Bank of Georgia Notice of Redemption of Loan Participation Notes

        Download

        JSC Bank of Georgia announces Q3 2011 and nine months 2011 results

        JSC Bank of Georgia announces Q3 2011 and nine months 2011 results

        Download

        JSC Bank of Georgia signs a US$40 million facility agreement with FMO and DEG

        JSC Bank of Georgia signs a US$40 million facility agreement with FMO and DEG

        Download

        JSC Bank of Georgia announces Tender Offer for all outstanding shares 20 December 2011

        JSC Bank of Georgia announces Tender Offer for all outstanding shares 20 December 2011

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        JSC Bank of Georgia's real estate subsidiary, SBRE to receive US$20 million funding from FMO

        JSC Bank of Georgia's real estate subsidiary, SBRE to receive US$20 million funding from FMO

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        JSC Bank of Georgia announces the upgrade from Fitch Ratings and S&P 20 December 2011

        JSC Bank of Georgia announces the upgrade from Fitch Ratings and S&P 20 December 2011

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        JSC Bank of Georgia launches Express Banking

        JSC Bank of Georgia launches Express Banking

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        JSC Bank of Georgia announces update on premium listing plans; issuance of 1. 5 million shares

        JSC Bank of Georgia announces update on premium listing plans; issuance of 1. 5 million shares

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        JSC Bank of Georgia announces the acquisition of assets and liabilities of Partner by ABCI

        JSC Bank of Georgia announces the acquisition of assets and liabilities of Partner by ABCI

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        JSC Bank of Georgia announces the launch of four healthcare facilities by MFC

        JSC Bank of Georgia announces the launch of four healthcare facilities by MFC

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        JSC Bank of Georgia announces start of proceedings to liquidate BG Capital Ukraine

        JSC Bank of Georgia announces start of proceedings to liquidate BG Capital Ukraine

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        JSC Bank of Georgia announces its move to new HQ, the launch of new website and brand restyling

        JSC Bank of Georgia announces its move to new HQ, the launch of new website and brand restyling

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        JSC Bank of Georgia signs Georgia Agricultural Finance Facility with EBRD

        JSC Bank of Georgia signs Georgia Agricultural Finance Facility with EBRD

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        JSC Bank of Georgia notice of Q3 2011 and nine months 2011 results

        JSC Bank of Georgia notice of Q3 2011 and nine months 2011 results

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        ABCI, Bank of Georgia wholly-owned subsidiary, secures US$11.9 million Export Credit Facility from ING

        ABCI, Bank of Georgia wholly-owned subsidiary, secures US$11.9 million Export Credit Facility from ING

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        JSC Bank of Georgia signs subcustodian agreement with State Street, Increases client access to Georgian securities

        JSC Bank of Georgia signs subcustodian agreement with State Street, Increases client access to Georgian securities

        Download

        JSC Bank of Georgia publishes its 1H 2011 Audited Financial Results

        JSC Bank of Georgia publishes its 1H 2011 Audited Financial Results

        JSC Bank of Georgia appoints Seymour Pierce as Corporate Broker

        JSC Bank of Georgia appoints Seymour Pierce as Corporate Broker

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        JSC Bank of Georgia Group to seek a premium listing on the LSE and to incorporate a new holding company in the UK

        JSC Bank of Georgia Group to seek a premium listing on the LSE and to incorporate a new holding company in the UK

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        JSC Bank of Georgia notice of Q2 2011 and 1H 2011 Results

        JSC Bank of Georgia notice of Q2 2011 and 1H 2011 Results

        Download

        JSC Bank of Georgia Announces Q2 2011 and 1H 2011 Results, Reports Q2 2011 ROAE

        JSC Bank of Georgia Announces Q2 2011 and 1H 2011 Results, Reports Q2 2011 ROAE

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        JSC Bank of Georgia cuts deposit rates and considers different wholesale funding options

        JSC Bank of Georgia cuts deposit rates and considers different wholesale funding options

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        JSC Bank of Georgia announces result of 2011 AGM

        JSC Bank of Georgia announces result of 2011 AGM

        Download

        JSC Bank of Georgia Announcement re 2011 AGM Voting Instruction Cards

        JSC Bank of Georgia Announcement re 2011 AGM Voting Instruction Cards

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        JSC Bank of Georgia receives award for Outstanding Marketing from American Express

        JSC Bank of Georgia receives award for Outstanding Marketing from American Express

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        Annual Information Update

        Annual Information Update

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        JSC Bank of Georgia AGM Agenda and Recommendations

        JSC Bank of Georgia AGM Agenda and Recommendations

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        JSC Bank of Georgia announces pricing and final results of the Invitation in respect of the U.S.$200 million 9.0 per cent. Loan Participation Notes due 2012

        JSC Bank of Georgia announces pricing and final results of the Invitation in respect of the U.S.$200 million 9.0 per cent. Loan Participation Notes due 2012

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        JSC Bank of Georgia AGM record date announcement

        JSC Bank of Georgia AGM record date announcement

        Download

        JSC Bank of Georgia Annual Financial Report

        JSC Bank of Georgia Annual Financial Report

        Download

        JSC Bank of Georgia Q1 2011 Results Conference Call Invitation

        JSC Bank of Georgia Q1 2011 Results Conference Call Invitation

        Download

        JSC Bank of Georgia notice of Q1 2011 Results

        JSC Bank of Georgia notice of Q1 2011 Results

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        JSC Bank of Georgia announces Q1 2011 results, reports GEL 30.6 million Consolidated Net Income excluding extraordinary item

        JSC Bank of Georgia announces Q1 2011 results, reports GEL 30.6 million Consolidated Net Income excluding extraordinary item

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        JSC Bank of Georgia signs merchant acquiring agreement with Diners Club International

        JSC Bank of Georgia signs merchant acquiring agreement with Diners Club International

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        JSC Bank of Georgia announces management bonuses for 2010 performance

        JSC Bank of Georgia announces management bonuses for 2010 performance

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        JSC Bank of Georgia receives the Global Finance award as the Best Bank in Georgia 2011

        JSC Bank of Georgia receives the Global Finance award as the Best Bank in Georgia 2011

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        JSC Bank of Georgia announces the sale of 80% equity interest in BG Bank Ukraine

        JSC Bank of Georgia announces the sale of 80% equity interest in BG Bank Ukraine

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        JSC Bank of Georgia Investor Day Schedule

        JSC Bank of Georgia Investor Day Schedule

        Download

        JSC Bank of Georgia Reports Q4 2010 and Full Year 2010 Results

        JSC Bank of Georgia Reports Q4 2010 and Full Year 2010 Results

        Download

        JSC Bank of Georgia notice of Q4 2010 and Full Year 2010 Results

        JSC Bank of Georgia notice of Q4 2010 and Full Year 2010 Results

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        JSC Bank of Georgia announces Investor Days to be held in London and New York

        JSC Bank of Georgia announces Investor Days to be held in London and New York

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        Bank of Georgia signs US$ 50 million 5 year loan agreement with ADB

        Bank of Georgia signs US$ 50 million 5 year loan agreement with ADB

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        Bank of Georgia announces result of EGM

        Bank of Georgia announces result of EGM

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        Bank of Georgia signs US$ 50 million 7-year Financing Package agreement with EFSE

        Bank of Georgia signs US$ 50 million 7-year Financing Package agreement with EFSE

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        Bank of Georgia Announces Q3 2010 and YTD 2010 Results

        Bank of Georgia Announces Q3 2010 and YTD 2010 Results

        Download

        Bank of Georgia Notice of Q3 2010 and YTD 2010 results

        Bank of Georgia Notice of Q3 2010 and YTD 2010 results

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        Bank of Georgia Announces the Agenda of the Extraordinary General Meeting of the Shareholders

        Bank of Georgia Announces the Agenda of the Extraordinary General Meeting of the Shareholders

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        Bank of Georgia Announces the Extension of the Contract of the CEO and New Executive Compensation Policy

        Bank of Georgia Announces the Extension of the Contract of the CEO and New Executive Compensation Policy

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        Bank of Georgia Announces the record date of Extraordinary General Meeting of Shareholders

        Bank of Georgia Announces the record date of Extraordinary General Meeting of Shareholders

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        Bank of Georgia sets up Representative Office in London

        Bank of Georgia sets up Representative Office in London

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        Bank of Georgia Announces Q2 2010 and 1H 2010 Results

        Bank of Georgia Announces Q2 2010 and 1H 2010 Results

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        Bank of Georgia notice of Q2 2010 and 1H 2010 Results

        Bank of Georgia notice of Q2 2010 and 1H 2010 Results

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        Bank of Georgia’s Subsidiary BG Capital to Hold Investor Conference in Kyiv, Ukraine on September 23-24

        Bank of Georgia’s Subsidiary BG Capital to Hold Investor Conference in Kyiv, Ukraine on September 23-24

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        Bank of Georgia signs loan agreements with EBRD in the aggregate amount of US$ 50 million

        Bank of Georgia signs loan agreements with EBRD in the aggregate amount of US$ 50 million

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        Fitch Ratings upgrades Bank of Georgia

        Fitch Ratings upgrades Bank of Georgia

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        Bank of Georgia and American Express Launch the new AMERICAN EXPRESS® BLUE credit card in Georgia

        Bank of Georgia and American Express Launch the new AMERICAN EXPRESS® BLUE credit card in Georgia

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        Bank of Georgia receives the Euromoney Award for Excellence as the Best Bank in Georgia

        Bank of Georgia receives the Euromoney Award for Excellence as the Best Bank in Georgia

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        Bank of Georgia completes the sale of 19.99% equity interest in BNB to IFC

        Bank of Georgia completes the sale of 19.99% equity interest in BNB to IFC

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        Bank of Georgia receives the Global Finance award as the Best Sub-Custodian Bank in Georgia in 2010

        Bank of Georgia receives the Global Finance award as the Best Sub-Custodian Bank in Georgia in 2010

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        Bank of Georgia opens an account with Euroclear Bank

        Bank of Georgia opens an account with Euroclear Bank

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        Bank of Georgia announces multiple US dollar and euro currency swaps with IFC

        Bank of Georgia announces multiple US dollar and euro currency swaps with IFC

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        Bank of Georgia launches one card VISA INFINITE card

        Bank of Georgia launches one card VISA INFINITE card

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        Annual Information Update

        Annual Information Update

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        Bank of Georgia 2010 Annual General Meeting of Shareholders Agenda and Recommendations_ENG

        Bank of Georgia 2010 Annual General Meeting of Shareholders Agenda and Recommendations_ENG

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        Bank of Georgia 2010 Annual General Meeting of Shareholders Agenda and Recommendations_GEO

        Bank of Georgia 2010 Annual General Meeting of Shareholders Agenda and Recommendations_GEO

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        Bank of Georgia Announces Q1 2010 Results

        Bank of Georgia Announces Q1 2010 Results

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        Bank of Georgia notice of Q1 2010 Results

        Bank of Georgia notice of Q1 2010 Results

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        Bank of Georgia Announcement of 2010 Annual General Meeting of Shareholders - ENG

        Bank of Georgia Announcement of 2010 Annual General Meeting of Shareholders - ENG

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        Bank of Georgia 2009 Audited Financial Statements

        Bank of Georgia 2009 Audited Financial Statements

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        Bank of Georgia 2009 Annual Financial Report

        Bank of Georgia 2009 Annual Financial Report

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        Bank of Georgia Notice of Audited Annual Report and Accounts

        Bank of Georgia Notice of Audited Annual Report and Accounts

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        Bank of Georgia announces further decrease of interest rates on deposits

        Bank of Georgia announces further decrease of interest rates on deposits

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        Bank of Georgia Q4 2008 and full-year 2008 results conference call replay details

        Bank of Georgia Q4 2008 and full-year 2008 results conference call replay details

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        Bank of Georgia Announces Q4 2009 and Full - Year 2009 Results

        Bank of Georgia Announces Q4 2009 and Full - Year 2009 Results

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        Bank of Georgia notice of Q4 2009 and Full - Year 2009 Results

        Bank of Georgia notice of Q4 2009 and Full - Year 2009 Results

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        Bank of Georgia announces decrease of interest rates on deposits

        Bank of Georgia announces decrease of interest rates on deposits

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        Bank of Georgia announces the buyout of minority stake and capital increase in BNB

        Bank of Georgia announces the buyout of minority stake and capital increase in BNB

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        Bank of Georgia receives The Bank of the Year Award by The Banker

        Bank of Georgia receives The Bank of the Year Award by The Banker

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        Bank of Georgia announces the appointment of joint corporate brokers

        Bank of Georgia announces the appointment of joint corporate brokers

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        Bank of Georgia announces important developments

        Bank of Georgia announces important developments

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        Bank of Georgia investor day schedule New York and London 23 and 27 November 2009

        Bank of Georgia investor day schedule New York and London 23 and 27 November 2009

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        Bank of Georgia and American Express launch two American Express Cards Issued in Georgia

        Bank of Georgia and American Express launch two American Express Cards Issued in Georgia

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        Bank of Georgia announces Investor Day to be held in New York and London

        Bank of Georgia announces Investor Day to be held in New York and London

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        Bank of Georgia Reports Q3 and YTD 2009 Results

        Bank of Georgia Reports Q3 and YTD 2009 Results

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        Bank of Georgia notice of Q3 2009 and YTD 2009 Results

        Bank of Georgia notice of Q3 2009 and YTD 2009 Results

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        Bank of Georgia selects TEMENOS T24 as its new core banking system

        Bank of Georgia selects TEMENOS T24 as its new core banking system

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        Bank of Georgia announces new senior appointments

        Bank of Georgia announces new senior appointments

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        Bank of Georgia selects CRIF Decision Solutions as the system provider for its loan origination platform

        Bank of Georgia selects CRIF Decision Solutions as the system provider for its loan origination platform

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        Bank of Georgia announces deployment of complete talent management solution

        Bank of Georgia announces deployment of complete talent management solution

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        Bank of Georgia Announces the Sale of Its Equity Interest in GTAM

        Bank of Georgia Announces the Sale of Its Equity Interest in GTAM

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        Bank of Georgia Announces Q2 2009 and 1H 2009 Results

        Bank of Georgia Announces Q2 2009 and 1H 2009 Results

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        Bank of Georgia Notice of Q2 2009 and 1H 2009 Results

        Bank of Georgia Notice of Q2 2009 and 1H 2009 Results

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        Approval of an increase of block listing of shares in the form of GDRs and admission to trading on the London Stock Exchange

        Approval of an increase of block listing of shares in the form of GDRs and admission to trading on the London Stock Exchange

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        Bank of Georgia and EBRD sign the Amended and Restated Participation Agreement

        Bank of Georgia and EBRD sign the Amended and Restated Participation Agreement

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        Bank of Georgia receives the Euromoney Award for Excellence as the Best Bank in Georgia 2009

        Bank of Georgia receives the Euromoney Award for Excellence as the Best Bank in Georgia 2009

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        Bank of Georgia announces AGM Results

        Bank of Georgia announces AGM Results

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        Bank of Georgia completes the settlement of US$140 million Loan Passthrough Notes

        Bank of Georgia completes the settlement of US$140 million Loan Passthrough Notes

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        Bank of Georgia announces the execution of US dollar interest rate swap transactions with IFC

        Bank of Georgia announces the execution of US dollar interest rate swap transactions with IFC

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        Bank of Georgia 2009 Annual General Meeting of Shareholders Agenda and Recommendations

        Bank of Georgia 2009 Annual General Meeting of Shareholders Agenda and Recommendations

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        Bank of Georgia Reports Q1 2009 Net Income of GEL 5.1 Million

        Bank of Georgia Reports Q1 2009 Net Income of GEL 5.1 Million

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        Bank of Georgia Announcement of 2009 Annual General Meeting of Shareholders - ENG

        Bank of Georgia Announcement of 2009 Annual General Meeting of Shareholders - ENG

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        Bank of Georgia Announcement of 2009 Annual General Meeting of Shareholders - GEO

        Bank of Georgia Announcement of 2009 Annual General Meeting of Shareholders - GEO

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        Bank of Georgia notice of Q1 2009 Results

        Bank of Georgia notice of Q1 2009 Results

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        Bank of Georgia Annual Information Update for 12 months up to and including 19 May, 2009

        Bank of Georgia Annual Information Update for 12 months up to and including 19 May, 2009

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        Bank of Georgia signs International Swaps and Derivatives Association Master Agreement with IFC

        Bank of Georgia signs International Swaps and Derivatives Association Master Agreement with IFC

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        Bank of Georgia Annual Financial Report

        Bank of Georgia Annual Financial Report

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        Bank of Georgia 2008 Audited Financial Statements

        Bank of Georgia 2008 Audited Financial Statements

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        Bank of Georgia notice of 2008 Annual Financial Report

        Bank of Georgia notice of 2008 Annual Financial Report

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        Bank of Georgia announces certain amendments to the Terms and Conditions of the Global Depositary Receipts

        Bank of Georgia announces certain amendments to the Terms and Conditions of the Global Depositary Receipts

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        Bank of Georgia Receives The Global Finance Award As Best Bank In Georgia 2009

        Bank of Georgia Receives The Global Finance Award As Best Bank In Georgia 2009

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        Bank of Georgia Q4 2008 and full-year 2008 results conference call replay details