BGH subsidiary signs agreement with Saxo Bank

RNS Number : 3428C

Bank of Georgia Holdings PLC

15 October 2015

 



London, 15 October 2015

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).

About Bank of Georgia Holdings PLC

Bank of Georgia Holdings PLC is a UK incorporated holding company of a Georgia-based banking group with an investment arm. Its primary business is the leading Georgian bank JSC Bank of Georgia, which has a market share of 36.0% (based on total assets), 33.4% (based on total loans) and 31.6% (based on client deposits). The banking business offers a broad range of retail banking, corporate banking, investment management and P&C insurance services. As of 30 June 2015, the bank served approximately 1.9 million client accounts through one of the largest distribution networks in Georgia, with 246 branches, the country's largest ATM network, comprising 685 ATMs, 2,284 Express pay (self-service) terminals and a full-service remote banking platform and a modern call center. The investment business primarily consists of the largest healthcare group in Georgia (Georgia Healthcare Group), real estate business (m2) and utility business (Georgia Global Utilities).

JSC Bank of Georgia has, as of the date hereof, the following credit ratings:

Standard & Poor's	'BB-/B'
FitchRatings	'BB-/B'
Moody's	'B1/NP' (FC) & 'Ba3/NP' (LC)

For further information, please visit www.bgh.co.uk or contact: 

Irakli Gilauri	Michael Oliver	Ekaterina (Eka) Shavgulidze
Group CEO	Adviser to the CEO	Head of Investor Relations
[phone]	[phone]	[phone]
[e-mail]	[e-mail]	[e-mail]

This news report is presented for general informational purposes only and should not be construed as an offer to sell or the solicitation of an offer to buy any securities

 

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