SOLO – a fundamentally different approach to premium banking The SOLO brand is used to serve the emerging mass We successfully achieved our target of 40,000 SOLO affluent segment. Our new SOLO model was introduced clients by the end of 2018 ahead of time in the third in 2015. It is a fundamentally different approach to quarter of 2018, reaching 44,292 customers as at premium banking. As part of the new strategy, the Bank’s 31 December 2018, up from 8,282 in 2015. The share SOLO clients are given access to exclusive products and of new customers acquired in 2018 accounted for the finest concierge-style environment at our specially 37.0% of the total of SOLO clients at the end of the year, designed SOLO lounges, and are provided with new which clearly demonstrates the popularity of the franchise lifestyle opportunities, such as exclusive events and in our domestic market. handpicked lifestyle products. SOLO Club, a membership group within SOLO launched To qualify for SOLO services one needs to have an in 2017, offers exclusive access to SOLO’s products income of GEL 3,000 per month. At SOLO lounges, and offers ahead of other SOLO clients at a higher fee. clients are attended by personal bankers and, in addition This includes American Express Platinum cards which are to the banking products, are offered luxury goods at available to SOLO Club members only. At 31 December cost and other lifestyle offers including a travel magazine 2018, SOLO Club had 3,825 members. and entertainment. In 2018, SOLO organised concerts with world famous artists. Such events are limited Given the exclusive character of SOLO, going forward to SOLO clients and create additional interest in the we will mainly target growth through existing clients by SOLO franchise. increasing customer loyalty and engagement and focus on maximising the profit per client and product per Profit per SOLO client reached GEL 1,455* in 2018, over client measures. 21 times more than what we have in the mass retail segment under the Bank of Georgia brand. SOLO’s gross In 2019, we are planning to offer our SOLO clients loan book and deposit portfolio demonstrated impressive an enhanced mBank equipped with personal finance growth of 45.9% and 38.4% y-o-y, respectively. management tools that will make the application even more comfortable and user-friendly. *Adjusted for Demerger-related expenses and one-off impact of remeasurement of deferred tax balances. 30 Annual Report 2018Bank of Georgia Group PLC