JSC Bank of Georgia raises GEL 160 million local currency funding from FMO

Bank of Georgia Group PLC (“the Group“) announces that JSC Bank of Georgia (the “Bank” or “Bank of Georgia”) continues to attract GEL-denominated funding as the Bank and Dutch development bank, Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V. (“FMO”) have signed a GEL 160 million loan agreement with a tenor of five years. The local currency loan facility will reinforce the growth of the Bank’s local currency denominated loan portfolio, which underlines the Bank’s commitment to support further de-dollarisation of Georgia’s economy. FMO 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 arm.