BOG named as best bank for women-owned businesses

RNS Number : 3232N

Bgeo Group PLC

08 May 2018

 

London, 8 May 2018

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.

Kaha Kiknavelidze, the Bank CEO commented: "We are very pleased to be distinguished by IFC, our long term partner, as the best financial institution in Europe and Central Asia for providing much necessary funding for women-led businesses. The Bank is fully dedicated to designing financial solutions for start-ups and businesses, especially small and medium sized companies, managed by women and supporting their funding with essential non-financial assistance. We plan to further strengthen our client base within women-owned enterprises and stay at the forefront of enhancing their role in Georgian economy."

"Bank of Georgia is one of the key IFC partners in Europe and Central Asia, and it has played a critical role in expanding trade into new markets and helping local SMEs grow and create jobs," said Jan van Bilsen, IFC Regional Manager for the South Caucasus.  "We would like to congratulate the team with this well-deserved award."

Name of authorised official of issuer responsible for making notification: Natia Kalandarishvili, Head of Investor Relations and Funding

About BGEO Group PLC

The Group: BGEO Group PLC ("BGEO"- LSE: BGEO LN) is a UK incorporated holding company of a Georgia-focused investment platform. BGEO invests, via its subsidiaries, in the banking and non-banking sectors in Georgia (BGEO and its subsidiaries, together the "Group"). BGEO aims to deliver on its strategy of: (1) at least 20% ROAE from its Banking Business; (2) 15%-20% growth of its Banking Business loan book; (3) at least 25% IRR; and (4) up to 20% of the Group's profit from its Investment Business. On 3 July 2017 BGEO announced its intention to demerge BGEO Group PLC into a London-listed banking business (the "Banking Business") and a London-listed investment business (the "Investment Business") by the end of the first half of 2018. 

Banking Business: Currently comprises: a) retail banking and payment services, b) corporate investment banking and wealth management operations and c) banking operations in Belarus ("BNB"). JSC Bank of Georgia ("BOG" or the "Bank") is the core entity of the Group's Banking Business. The Banking Business will continue to target to benefit from the underpenetrated banking sector in Georgia primarily through its retail banking services. 

Investment Business: Currently comprises the Group's stakes in Georgia Healthcare Group PLC ("Healthcare Business" or "GHG") - an LSE (a London Stock Exchange) premium-listed company, Georgia Global Utilities ("Utility and Energy Business" or "GGU"), m² Real Estate ("Real Estate Business" or "m²"), Teliani Valley ("Beverage Business" or "Teliani"), Aldagi ("Property and Casualty Insurance Business" or Aldagi") and Bank of Georgia Group ("Banking Business" or "BoG"). Georgia's fast-growing economy provides opportunities in a number of underdeveloped local markets and the Investment Business will target to capture growth opportunities in the Georgian corporate sector.  

Bank of Georgia has, as of the date hereof, the following credit ratings:
Fitch Ratings	'BB-/B'
Moody's	'Ba3/NP' (FC) & 'Ba2/NP' (LC)

For further information, please visit www.bgeo.com or contact: 

Irakli Gilauri	Michael Oliver	Giorgi Alpaidze
Group CEO	Adviser to the CEO	Group CFO
[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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