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JSC Bank of Georgia raises GEL 75 million local currency funding from BSTDB

29 Mar 2018

BGEO Group PLC (the “Group” or “BGEO”), announces that its banking subsidiary, JSC Bank of Georgia (the “Bank” or “Bank of Georgia”) continues to attract GEL-denominated funding as the Bank and Black Sea Trade and Development Bank (“BSTDB”) have signed a GEL 75 million loan agreement, with tranches up to five years duration. The local currency loan facility will be used to finance the development of Georgian small and medium-size enterprises (“SMEs”), which reinforces the Bank’s commitment to support SMEs in Georgia and underpins its leading position in the SME sector. BSTDB raised the local currency funds through a public placement of GEL-denominated bonds on the Georgian Stock Exchange arranged by Galt & Taggart, the Group’s wholly owned brokerage subsidiary.

 

JSC Bank of Georgia raises GEL 75 million local currency funding from BSTDB