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Bank Constanta’s Team further Empowered by another Professional

Published: June 18, 2012 | 7:50 am
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New COO: “Bank Constanta has a strong potential to become the largest player on Georgian microfinance market.”


Since May, 2012 another experienced professional joined Bank Constanta’s team. Giorgi Nadareishvili was appointed as the Chief Operations Officer (COO).

According to the bank’s management, Nadareishvili’s value as a professional will further strengthen the team, new COO will play an important role in the bank’s successful development in future.

Nadareishvili has a long-time experience in working both at local and foreign banking markets and is well aware of the microfinance sector specifics.

New COO has worked almost at all steps of banking sector management, which once again confirms his deep knowledge of banking structure.

Nadareishvili has been working in banking sector since 1997, started as a loan officer at TbilComBank. In 1998-2003 he worked first as a senior loan officer at ProCredit Bank Georgia and later got promoted as a branch manager (Kutaisi, later Batumi). In 2002 Nadareishvili became a regional director and joined the Board of Directors of ProCredit Bank Georgia.

He also worked in Ukraine (Head of Regional Department of Kiev, ProCredit Bank) and in Azerbaijan (COO, Finca Azerbaijan, later- General Director of TBC Credit).

Since May, 2012 Nadareishvili is the COO of Bank Constanta.

The COMMERCIAL TIMES interviewed Giorgi Nadareishvili, new COO of Bank Constanta.

- Prior to becoming the COO of Bank Constanta you have worked abroad during years. How would you evaluate the experience gained from foreign markets?

- I’ve worked in Azerbaijan for five years, it was the first foreign market project of TBC Bank- TBC Credit, the bank’s daughter company, which was acquired in 2007. Azerbaijan is a rather specific country and is Georgia’s largest trade partner. Thus, we have much in common. It’s been an interesting and useful experience for me. TBC Credit was the first microfinance sector experience for TBC Bank before becoming partners with Bank Constanta.

- Bank Constanta is the same profile organization working on Georgian microfinance market. How different the local market appears to be compared to Azerbaijan?

- Joining Bank Constanta is directly linked with my return to Georgia. My family and I were willing to come back to our homeland. Before moving to Azerbaijan I had been working in Ukraine for three years. TBC Bank’s management understood my situation and this coincided with the COO vacancy opening at Bank Constanta. I arrived in Georgia in May and joined the bank’s team.

Work specifics of Bank Constanta are quite familiar to me. Years ago when I worked at ProCredit Bank when there were only two big players on Georgia’s microfinance market: ProCredit Bank and Bank Constanta. The direction that I’m in charge of now differs from what I’ve been doing thus far. This time being COO doesn’t mean managing credit operations. My job includes: Cash Operations, Plastic Cards, Correspondence, Project Management, Governance and Methodology. The latter was formed last week and is being developed currently. We’re also discussing the launch of alternative distribution channels. Expansion of operations structure is planned as well. Each department could have sub-departments or maybe we’ll create additional ones.

In the coming three months a concrete plan will be worked out, which will be implemented starting from September 1. My goal is to gather the entire business support, which the company needs in terms of non-credit side, under one direction. As a result, we’ll get communications issue simplified, which will condition a better development of sales.

- How would you assess Bank Constanta’s potential and how do you see the bank’s future development on Georgian market?

- Growth dynamic of our company is one of the highest in Georgia, especially in microfinance sector, which is the core business for us. Partnership with TBC Bank further intensified the bank’s growth indicators. Our task is to turn Bank Constanta into the most solid banking structure in Georgia and one of the largest players on the microfinance market. To make this happen we do have all the resources and the fact that we have an experienced staff means a lot. Certainly, microeconomic situation should also be considered; however, currently it’s only for good.  Bank Constanta has a strong potential to become the largest player on Georgian microfinance market.

- Microfinance sector, which is the major segment of Bank Constanta, is not still focused much by the local banks. What are the advantages TBC Bank gets from partnership with Bank Constanta?

- 10 years ago, when microfinance sector was just starting to develop in Georgia, not everybody believed in its future. However, this direction created its own so called Success Story, which proved that working with small and medium size enterprises is stable and profitable business for banking structures. Analogue situation was in our neighboring country Azerbaijan where there are only a few banks that are involved in microfinance activities.

TBC Bank expressed interest toward microfinance market long time ago and that’s why they started partnership with Bank Constanta. Our bank’s years’ of successful experience on microfinance market makes us believe that in a long-term perspective Bank Constanta will be one of the leaders on the local market.



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