Corrected Annual Report 2015

RNS Number : 9564U

Bgeo Group PLC

12 April 2016

 

London, 12 April 2016

BGEO Group PLC announces the publication

of its corrected 2015 Annual Report

BGEO Group PLC (BGEO) (LSE:BGEO) announces that, following the recent release of the BGEO Group PLC Annual Report & Accounts for the year ended 31 December 2015 (the 2015 Annual Report), erroneous wording has been identified in the notes to the consolidated financial statements at page 198. This previously stated that a table at Note 29 included the carrying amount for renegotiated assets overdue by more than 90 days, by class. The full, correct sentence reads as follows: "The table below shows the carrying amount for renegotiated financial assets, by class."

In addition, a small number of cross-references contained within the 2015 Annual Report have been amended. The correction of these errors has no impact on BGEO's reported results.

The corrected 2015 Annual Report is available at the following link: www.bgeo.com/page/id/1/annual-reports.

The corrected copy of the 2015 Annual Report has also been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.morningstar.co.uk/uk/NSM.

 http://www.rns-pdf.londonstockexchange.com/rns/9564U_-2016-4-12.pdf

About BGEO Group PLC

BGEO Group 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 33.4% (based on total assets), 32.0% (based on total loans) and 33.0% (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 31 December 2015, the bank served approximately 2.0 million client accounts through one of the largest distribution networks in Georgia, with 266 branches, the country's largest ATM network, comprising 746 ATMs, 2,589 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).

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.bgeo.com 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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