Bank of Georgia is a leading Georgian universal
bank, providing a full range of commercial and investment banking,
asset and wealth management, insurance, leasing and card processing
services to its corporate and retail clients. The largest retail bank
in the country with an approximately 34% market share by total assets,
Bank of Georgia serves over 695,000 retail clients through its network of 140
branches and 394 ATMs (the largest ATM footprint in Georgia), as well
as through other delivery channels including the Internet, mobile
banking and state-of-the-art call center. The bank, together with its
wholly-owned subsidiaries, is organized into the following Strategic
Business Units ("SBU"s) – Retail Banking (RB), Corporate Banking (CB), Insurance and Corporate Center (CC) and
Business Units ("BU"s) - Asset Management (AM), Wealth Management (WM)
and Galt & Taggart Securities (GTS). The bank's net income for Q1 2009 amounted to GEL 5.1 million (US$3.0 million) on a
consolidated basis, while its equity book value and total assets stood
at approximately GEL 711.9 million (US$426.3 million) and GEL 3,187
million (US$1,908 million), respectively*. As at 31 March 2009,
the bank's ROAE and ROAA were 2.85% and 0.63%, respectively.
On
29 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 (LSE: BGEO). A benchmark stock on the
Georgian Stock Exchange (GSE: GEB), Bank of Georgia has been listed on
the GSE since 2001. As of 31 March 2009, the bank was approximately
89% institutionally owned, with the remainder owned by senior
management and approximately resident and non-resident retail
shareholders. Bank of Georgia remains to be the only Georgian entity to
be rated by all three global rating agencies: ‘B/B’ from Standard & Poor’s, ‘B3/NP’ (FC) & ‘Ba3/NP’ (LC) from Moody’s and ‘B/B’ from
Fitch Ratings.
In March 2008 and 2009, Bank of Georgia received Best Bank In Georgia 2008 and Best Bank in Georgia 2009 Award from Global Finance Magazine.
In July 2005, 2006, 2007, 2008 and 2009 Euromoney, a leading capital markets publication, named Bank of Georgia the winner of the
Best Bank in Georgia Award for Excellence.
In December 2006, 2007 and 2008 Bank of Georgia received The Bank of The Year Award for Georgia from The Banker, the publication of Financial Times Business Ltd, a member of the Financial Times group of companies.
*consolidated, unaudited, IFRS.
