Head office of the Bank of Georgia opened

On November 11 Bank of Georgia held a ceremony to mark the opening of its head office in Tbilisi. The President of Georgia Mikheil Saakashvili participated in the opening ceremony. At the ceremony Saakashvili addressed employees and talked about the successful management of the bank. During his speech, the president focused on the architectural value of the building, the appearance of which he called a symbol of the rebuilding of Georgia. “This building is considered one of the architectural masterpieces of the world. It is in line with the epoch of rebuilding, which we are all creating together in Georgia,” stated Saakashvili.

He focused attention on the recent economic advancement, management of the banking sector, and the success of the Bank of Georgia at the London Stock Exchange. The president referred to an article in the Financial Times, which compared the Bank of Georgia to three Russian companies and noted that it is one of the most successful banks at the London Stock Exchange.

According to the Financial Times, the difference between the Bank of Georgia and Russian banks is that the Bank of Georgia is based on healthy economic markers, while the Russian companies are solely based on resources. Aside from resources they have no intellectual or organizational capacity. “We got rid of the system they are based on in 2003,” noted Saakashvili.

The president also talked about overcoming unemployment, modernization plans, the necessity of re-training people in the age group 45-60, and the influence of the Russian embargo. According to him, the embargo gave motivation to strengthen Georgia, because the country overcame the artificial obstacles created by Russia on its own. “Georgia must become an economic center, an independent player, which will define its destiny on its own, set standards and hence the rules of the game for the entire region,” he said.

Sixteen administrative units of the Bank of Georgia have been relocated to the new building, where more than 600 people will work.

The building designed by Giorgi Chakhava and Zurab Jalagania in 1975, where the Bank of Georgia has been relocated, remains as one of the most important architectural monuments of the world.