With the support of the National Bank of Georgia, Forbes Georgia Magazine, in cooperation with Ernst&Young, presented banking sector review and ratings of the commercial banks of Georgia.
At the presentation of the new edition of the magazine, Koba Gvenetadze, President of the National Bank of Georgia, evaluated the performance of the banking sector:
“National Bank of Georgia is hosting Forbes Banker Magazine for the second time. For us, this event is a kind of summarizing of performance of the banking sector, but as if seen from the side. This year has been extremely important for banking sector and for financial sector as a whole. It was full of success stories, novelties and new projects. Banking sector represents one of the most important pillars for the economy of the country and, at the same time, is the most stable, healthy field, permanently oriented towards development. That is why, every year we face new challenges. We want to approach international standards as close as possible and to improve transparency. For this purpose, it is necessary to have strong, profitable, progressive financial system on one hand and protected and informed consumer on the other. To fulfill these tasks, the National Bank of Georgia, together with the government and banking sector, has developed a legislative package, which is being considered by the parliament and positive results of which will become obvious in the nearest future. Confidence of foreign investors and financial institutions in our country and our financial system increases on a daily basis. Of course, many things still need to be improved but we’re having progress and, I must say, that this is just a start! I would like to state also that for professional evaluation and even criticizing of these processes, existence of qualified business publications is crucial. Unfortunately – or, fortunately for Forbes – this market has not been developed yet. I want to wish success to the magazine and its staff”, – stated Koba Gvenetadze, president of the National Bank of Georgia.
At the presentation, Giorgi Isakadze, Editor-in-chief of Forbes Georgia, presented the rating of commercial banks, operating in Georgia, according to which, TBC-Bank is holding the leading position. The review of main trends and events of the banking sector in 2017, made by Forbes Georgia and Ernst&Young, was based upon materials and statistical data of the National Bank of Georgia, reports, prepared and published by commercial banks and information, provided by the World Bank and International Monetary Fund.
Forbes Georgia is a licensed monthly edition of Forbes Magazine, the most influential business economic magazine in the world. Forbs Banker is issued every June and is dedicated to the review of the events taking place within the banking sector and summarizing the results of the past year. e
