Bank of Georgia is a leading Georgian universal bank, providing a full range of commercial and investment banking, wealth management, insurance, leasing and card processing services to its corporate and retail clients. The largest retail bank in the country with an 34.8% market share by total assets, Bank of Georgia serves over 732,900 retail clients through its network of 137 branches and 379 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) - Wealth Management (WM) and BG Capital. The bank's net income for Q1 2010 amounted to GEL 16.8 million (US$9.6 million) on a consolidated basis, while its equity book value and total assets stood at approximately GEL 611.7 million (US$349.6 million) and GEL 3,124.1 million (US$1,785.8 million), respectively*. As at 31 March 2010, the bank's ROAE and ROAA were 11.1% and -2.2%, 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 December 2009, the bank was approximately 90% 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, 2008 and 2009 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.
