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:
Bank of Georgia’s real estate subsidiary issues US$20 mln bonds
Bank of Georgia’s real estate subsidiary issues US$20 mln bonds
17 MAR 2015 / 00:00
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.
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
20 FEB 2015 / 00:00
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
18 FEB 2015 / 00:00
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.
