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NBG President regarding Banks’ Advertising Campaigns

Published: April 30, 2013 | 10:17 am
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(CNA)-Giorgi Kadagidze, President of National Bank of Georgia (NBG) stated that “Banks should not conduct advertising campaigns that may misguide consumers.” Today, President of NBG met with the heads of commercial banks.

“Commercial banks are conducting quite aggressive advertising campaigns, which is a welcome fact. At the same time, Banks should not conduct advertising campaigns that may misguide consumers by delivering only partial information or create false expectations,” declared Kadagigze.

In his words, it’s not excluded to review legislation in this respect. NBG President called on consumers to have a close look at the contract before signing it and in case of complaints apply to Consumer Protection Division.

“We’re not saying that consumers are being deceived. What’re saying is that banks should not conduct advertising campaigns that may misguide consumers,” noted Kadagigze.

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