Joint Services Agreement with Aktif Bank

RNS Number : 2670W

Bank of Georgia Holdings PLC

23 December 2013

 

London, 23 December 2013

Bank of Georgia Representative Office Istanbul Signs Joint Services Agreement with Aktif Bank

Bank of Georgia Holdings PLC ("BGH"), the holding company of JSC Bank of Georgia ("the Bank"), Georgia's leading bank announces that the Bank's representative office in Istanbul has signed a joint services agreement with Aktif Bank, the privately owned investment bank in Turkey to facilitate money transfer and other services for the Bank's clients. The agreement was signed during the formal opening ceremony of the Istanbul representative office, which was established with the primary view of capturing investments and trade flows between Georgia and Turkey and deepening relationship with Turkish financial institutions and business community.

"I am excited that in parallel to opening a representative office in Istanbul, we are joining forces with Atkif Bank to capture business opportunities arising from strong economic partnership between Georgia and Turkey. I am sure that Aktif Bank, which is one of the most entrepreneurial and innovative banks in Turkey, will be an invaluable partner with our new business endeavors in the region", commented Irakli Gilauri, Chief Executive Officer of Bank of Georgia. 

About Bank of Georgia Holdings PLC

Bank of Georgia Holdings PLC is a UK-incorporated holding company of Bank of Georgia. Bank of Georgia is the leading Georgian bank, based on total assets (with a 34.1% market share), total loans (with a 33.8% market share) and total deposits (with a 30.4% market share) as of 30 September 2013, all data based on standalone financial information filed by banks in Georgia with the National Bank of Georgia. The Bank offers a broad range of corporate banking, retail banking, wealth management, brokerage and insurance services to its clients.

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, www.bog.ge/ir or contact: 

Irakli Gilauri	Nikoloz Gamkrelidze	Macca Ekizashvili
Chief Executive Officer	Deputy CEO, Finance	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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