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Relations between Banks and Businesses in Georgia

Published: August 19, 2013 | 7:52 am
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Is the banking sector in Georgia supportive of businesses? TV3 will gauge the attitude towards the Georgian banks within various business areas. Thus, according to the head of the automobile importers Iberia Business Group, Tariel Khechikashvili, the banking sector is one of the most successful institutions in the country today. However, banks are often inconsistent in their relationships with customers, and are rarely focussing on trying to establish a long term relationship with loyal clientele, according to Mr. Khechikashvili.
Lasha Lomidze, a spokesman for the automobile importers AKA Mercedes, has told TV3 that there are no problems between banks and businesses, even though no steps have been taken yet to lower the interest rates on car loans. IliaUni Business Review researcher Giorgi Abashishvili states that the banks help big businesses in a variety of ways. However, the same cannot be said in relation to the small and medium scale businesses, where communication with the banks is a more difficult issue, and the trust factor between the two sides is virtually absent, according to Mr. Abashishvili.

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