BOG opens a brand new office for its WM business

RNS Number : 2421O

Bank of Georgia Group PLC

28 January 2019

 

London, 28 January 2019

Bank of Georgia opens a brand new office for its Wealth Management business

Bank of Georgia Group PLC ("the Group") announces that on 25 January JSC Bank of Georgia (the "Bank" or "Bank of Georgia") opened a brand new office in the centre of Tbilisi's Freedom Square, dedicated to serving its Wealth Management clients. The office resides in a historic 19^th century building, which originally used to house the First Credit Society of Georgia and is considered to be the first residence of a local banking institution. The branch office was renovated by the Italian design company DINN!. The design concept was derived from the integration of Georgian culture with western values, while the artistic expression of the building has been left intact.  

Bank of Georgia has offered wealth management services since 2005 and currently serves more than 1,500 clients from approximately 80 countries. The Wealth Management business has representation in Tbilisi, London, Budapest, Tel Aviv, Istanbul and Limassol.

Archil Gachechiladze, Bank of Georgia's CEO commented: "I am delighted that Bank of Georgia will continue to offer its superior wealth management services from this new office in the heart of Tbilisi. The opening of the office in such a historically significant and symbolic building in the capital coincides with a creation of a new brand identity of Bank of Georgia's Wealth Management business, which is grounded on the virtues of both Georgia and the Bank. The country has superior qualities to offer to investors: it is politically and economically stable; it has an exceptionally healthy and profitable financial sector, and it is one of the best countries in the world to do business. Bank of Georgia is innovative, experienced and a highly trustworthy financial partner in Georgia - all of which makes it best suited to become the regional hub for private banking."

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

About Bank of Georgia Group PLC

Bank of Georgia Group PLC ("Bank of Georgia Group" or the "Group" - LSE: BGEO LN) is a UK incorporated holding company, which 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 ("Bank of Georgia", "BOG" or the "Bank"), the leading universal bank in Georgia, is the core entity of the Group. The Group targets to benefit from superior growth of the Georgian economy through both its retail banking and corporate investment banking services and aims to deliver on its strategy, which is based on at least 20% ROAE and 15%-20% growth of its loan book. 

JSC 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.bankofgeorgiagroup.com or contact:

Archil Gachechiladze	Michael Oliver	David Tsiklauri	Natia Kalandarishvili
Group CEO	Adviser to the CEO	Group CFO	Head of Investor Relations
[phone]	[phone]	[phone]	[phone] (9282)
[e-mail]	[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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