Bank of Georgia

Not to be confused with Georgia Bank & Trust.
Bank of Georgia
Joint Stock Company
Traded as LSE: BGEO GeSE: GEB
Industry Banking
Financial Services
Founded 1903
Headquarters Tbilisi, Georgia
Number of locations
266 branches
Area served
Georgia, Israel, United Kingdom, Hungary, Turkey
Key people
Irakli Gilauri
Kaha Kiknavelidze
Products Finance and insurance
Consumer Banking
Corporate Banking
P&C insurance
Trade Finance
Wealth Management
investment management
Card Processing Service
Revenue Georgian Lari 368.1 million (2016)[1]
Georgian Lari 165.2 million (2016)[1]
Profit Georgian Lari 144.4 million (2016)[1]

Bank of Georgia (abbreviated as BOG or BoG) is a Georgian bank headquartered in Tbilisi, Georgia. It is the largest bank in Georgia by assets.[2]

As of 31 March 2016, Bank of Georgia served approximately 2.0 million client accounts through operating 266 branches, 753 ATMs, 2,627 self-service terminals, a remote banking platform and a call center, countywide.[3] 99.52% of the share capital of Bank of Georgia is held by BGEO Group PLC, a public limited liability company incorporated in England and Wales with registered number 07811410.[3] The shares of BGEO are admitted to the premium listing segment of the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange PLC’s Main Market for listed securities, effective 28 February 2012.[4]

Bank of Georgia hash credit ratings from: S&P: ‘BB -’,[5] Moody's: ‘B1/Ba3’ (foreign and local currency),[6] Fitch Ratings: ‘BB-’; outlooks are ‘Stable’.[7]


The bank was established in 1903, nationalized by the communists and became known as Binsotsbank before it was privatized again and renamed the Bank of Georgia in 1994.[8]

Bank of Georgia was first listed on the Georgian Stock Exchange in 2001 and then merged with Tbiluniversalbank in 2004.[9] In 2004 Bank of Georgia acquired the BCI insurance company.[10]

In November 2006, Bank of Georgia became the first company from Georgia and the second bank from the CIS to list its shares in the form of GDRs on the London Stock Exchange.[11] Then in December 2006 Bank of Georgia's insurance subsidiary, BCI, announced the acquisition of the Aldagi Insurance Company.[12] In 2006 Bank of Georgia acquired Intellect Bank’s assets and liabilities.[13]

In 2007 Bank of Georgia acquired 98.77% of Universal Bank of Development & Partnership in Ukraine (later renamed BG Bank).[14] Then in May 2008, Bank of Georgia bought a 70% equity interest in Belarusky Narodny Bank, a Belarus Bank.[15] In 2009 the Bank started to issue the American Express Card and the American Express Gold Card issued in Georgia.[16] In 2010 Bank of Georgia sets up a UK subsidiary company, Bank of Georgia Representative Office UK Limited in London.[17] In 2011 Bank of Georgia sold its 80% interest in BG Bank of Ukraine.[18] In fall of 2011 Bank of Georgia moves to its new Headquerters.[19] In February 2012 Bank of Georgia gained a premium listing on the London Stock Exchange.[20] In May 2012 Aldagi BCI acquired a controlling interest in Imedi L, a large insurer.[21] On 15 June 2012 Bank of Georgia joined the FTSE 250 Index.[22] In December 2014 Bank of Georgia announced the acquisition of PrivatBank Georgia.[23]

Bank of Georgia, Headquarters Georgia, Tbilisi, Gagarini str. 29a


Bank of Georgia is based in the capital, Tbilisi, and has 197 branches.[24]


  1. 1 2 3 "BGEO GROUP PLC 2016 Results" (PDF). Bank of Georgia. Retrieved 9 September 2016.
  2. "Investor Presentation: 2Q16 & 1H16 results" (PDF). BGEO. Retrieved 14 September 2016.
  3. 1 2 "2nd quarter and half-year 2016 results" (PDF). BGEO. Retrieved 14 September 2016.
  4. "BGEO GRP share price (BGEO)". London Stock Exchange. 2012-02-29. Retrieved 2016-09-14.
  5. "Bank of Georgia" (PDF). S&P. Retrieved 14 September 2016.
  6. "Moody's: Bank of Georgia and TBC Bank set for robust expansion in 2015". 2015-01-23. Retrieved 2016-09-14.
  7. "Press Release". Retrieved 2016-09-14.
  8. "BNE talks to the chairman of the Bank of Georgia". BNE, 26 April 2007
  9. "Japan and the EBRD" (PDF), p. 12.
  10. Bank of Georgia acquires BCI Georgian Messenger, 7 December 2004
  11. Fitch Affirms Four Georgian Banks.
  12. "Bank of Georgia Buys into Aldagi Insurance Company"., 22 December 2006.
  13. "CIS & Russia" (PDF). London Stock Exchange Group. Retrieved 23 March 2015.
  14. Bank of Georgia Buys Ukrainian Bank, 11 October 2007
  15. Bank of Georgia Buys Belarus Bank Georgian Daily, 13 May 2008
  16. American Express business credit cards available for Georgian companies Georgia Today, 9 February 2012
  17. Bank of Georgia sets up Representative Office Bloomberg
  18. Bank of Georgia sells Ukraine subsidiary Reuters, 11 February 2011
  19. Bank of Georgia announces its move to new Headquarters Investgate, December 2011
  20. Georgian state railway builds up steam ahead of London IPO City AM, 17 April 2012
  21. Aldagi BCI acquires controlling interest in Imedi L Georgia Today, May 2012
  22. Bank of Georgia Holdings to enter FTSE indices Bloomberg, June 2012
  23. Bank of Georgia to acquire PrivatBank’s Georgian subsidiary bank, Privatbank, 5 December 2014
  24. IFC: Banking On Women – Changing the Face of the Global Economy IFC, 7 September 2012

External links

Wikimedia Commons has media related to Bank of Georgia.
This article is issued from Wikipedia - version of the 9/14/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.