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Review of Bank of Georgia’s Highlights in 2011

Published: December 26, 2011 | 7:40 pm
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The COMMERCIAL TIMES

Tbilisi, December 22, 2011- Bank of Georgia, the leading commercial bank in the country, summarized 2011 highlights.

Since the September 5, 2011 announcement Bank of Georgia made important steps to get on the premium listing of the London Stock Exchange

On September 5, 2011 Bank of Georgia announced its decision to get on the premium listing of the London Stock Exchange. After getting on the premium listing Bank of Georgia will be included in FTSE index. On December 21 Bank of Georgia Holdings Plc announced a tender on all the ordinary stocks of the bank. The offer equally refers to the stocks that are owned directly by relative persons as well as stocks on which relative owners are authorized by Global Deposit Receipts (GDR). This news was covered by Western publications like: Financial Times, City A.M; Emergingmarkets.me, also the agencies Reuters and Bloomberg. Financial Times named Bank of Georgia the least risky bank to be in the FTSE index.

Increased ratings by global rating agencies

On December 16, 2011 global rating agencies Fitch Ratings and Standard & Poor’s raised their respective ratings on the  Bank of Georgia. S&P upgraded the bank’s long-term rating from “B” to “BB-”. Bank of Georgia remains the only bank in the country rated by S&P. Fitch Ratings upgraded Bank of Georgia long-term Issuer Default Rating from “B+” to “BB-”. The agency also upgraded the bank’s Viability Rating from “B+” to “BB-”, which is the highest Viability Rating in the local banking market. The above mentioned rating agencies considered Bank of Georgia’s business position, capitalization, liquidity, profitability,strong corporate governance and management teams while upgrading the bank.

Brand refreshment, opening a new Head Office, regional expansion and launching new concept service centers

Brand refreshment

As a part of a consistent development of the Bank, Bank of Georgia carried out the brand restyling in order to update its corporate brand.  Retail banking, corporate banking, personal banking, – all these directions now have separate logos, however orange lion was maintained everywhere. The bank also presented a new slogan – Feel the Future, the main message of which sets clear the bank’s innovative approach to launch products that will help people to plan a better future.

Bank of Georgia also updated its website system

New web pages are of modern design and offer simple navigation. www.bog.ge has an updated Media Center where you can find the basic information on the bank as well as download high resolution photos of the bank’s management, Head Office, service centers, print advertisements. One may also find the media coverage, such as newspaper articles and TV reports, as well as the bank’s ads.

New Head Office

The appearance of a new slogan coincided with the bank’s moving into a new Head Office, which offers A class office environment. Around 600 employees from 12 different offices are now gathered under one roof. www.hq.ge here you can find all the information about the new Head Office and in addition to looking through the photo gallery people can use the Augmented Reality function and have a closer look at the building from every angle.

Regional Expansion

In 2011 Bank of Georgia opened service centers in: Kutaisi, Zugdidi, Lagodekhi, Oni, and Gori. SOLO personal banking service also became available in regions by opening the Kutaisi service corner.

Brand New Concept

By the end of 2011 Bank of Georgia launched a brand new concept of service centers – Express. Nine new service centers were opened in Tbilisi simultaneously. Express service centers, which offer fast transactions and the combination of operator and online banking services, are open till 9 pm while the self-service online zone is available  for 24 hours.

Today Bank of Georgia operates 151 service centers throughout the country and has the largest network of 425 ATMs. As of November 30, 2011, Bank of Georgia has issued 521,167 debit cards and 122,180 credit cards, including 99,364 American Express cards.

 

 

 

 

 

 

 

 

 

 

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