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Bank Republic Opens New Branch, Launches Unprecedented Low Interest Rate Offer on Consumer Loans

Published: October 22, 2012 | 2:03 pm
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Bank Republic announced the launch of an
unprecedented low- 13.95% interest rate offer on consumer loans during the
opening of its 38th branch on 82 Aghmanshenebeli Ave on October 22.

According to Christian Carmagnolle, CEO of Bank
Republic/ Société Générale Group, both physical and juridical persons will get
access to universal services at the new branch. “Along with opening new
branches, which will offer new type of approach to consumers, we’re motivated
to further improve service quality. Our personnel will be more oriented at
establishing closer contact with clients,” declared Mr. Carmagnolle. In his
words, the new branch will have cashier-operators, meaning that operators will
combine operational functions with cashier’s services (cash operations with
certain limited amount).

With the new branch strategy the bank launches
face-to-face working principle, which will be further continued.The new branch
will work six days a week (Monday-Saturday).

Analogue to Société Générale’s working principles in
other countries, Bank Republic clients will also have private bankers.

As the bank’s CEO said, with the offer of low
interest rates on loans, Bank Republic tries to adapt to the local market
tendencies and maintains its innovative image along with keeping its business
development strategy.

According to Ramaz Kukuladze, Commercial Director of
Bank Republic, the bank starts a special campaign on the consumer market: “It’s
a consumer-market oriented loan campaign, the main attraction of which is the
low interest rate- 13.95%.”

Those who you need financing for home appliances,
renovation, furniture, clothes, travelling, etc., can benefit from Bank
Republic’s special consumer loan campaign till the end of autumn with the
following terms:

Maximum amount of loan without collateral is- GEL 30
000 and with collateral- GEL 50 000. The loan is approved in an hour after
filling in the application form. Interest rates for up to 24 months make- 13.95%
and from 24 up to 36 months- 14.95%.

Kukuladze says, decreasing interest rates on
consumer loans has nothing to do with political developments in the country. In
his words, the market needs to be revived with such incentives.

As Giorgi Samadashvili, Head of Product Development
Department at Bank Republic, told The COMMERCIAL TIMES, earlier last year Bank
Republic launched campaign on consumer loans with interest rate offer as low as
11%. As he explained, today’s 13.95% campaign is the lowest offer on the local
banking market.

“The main reason behind Bank Republic’s decision to launch
this lowest interest rate campaign is that there’s usually a growth demand on
consumer loans during the New Year period,” stated Samadashvili. 




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