Banking sector stable in Georgia
By Messenger Staff
Thursday, January 15The Georgian banking sector has shown itself to be very stable against the threat of two devastating blows, the Russian invasion in August and the world economic crisis. The policies chosen by the banks themselves and supported by the state have made it possible for the banks to survive and continue functioning.
There are four key players in the banking market in Georgia, TBC Bank, Bank Republic, Procredit Bank and Bank of Georgia. So far they are all performing well and they are not under threat. Procredit Bank is supported by German capital, Bank Republic by French capital and TBC has recently announced it has a new strategic investor.
The current crisis still presents some challenges however. In spring Georgian banks will have to start paying back their international loans, but substantial steps have already been taken to cover them.