Bank of Georgia Group PLC BOGG hosts Investor Day in Tbilisi (2681D)
25 Junio 2019 - 1:01AM
UK Regulatory
TIDMBGEO
RNS Number : 2681D
Bank of Georgia Group PLC
25 June 2019
London, 25 June 2019
Bank of Georgia Group PLC hosts Investor Day in Tbilisi
Bank of Georgia Group PLC ("Bank of Georgia Group" or the
"Bank") announces that the Bank is hosting an Investor Day for
analysts and investors in Tbilisi on Tuesday 25 June 2019. As part
of the investor presentations, the Bank will update investors on
its strategic goals and priorities as summarised below.
Over the medium-term, the Bank's key priorities will be to:
-- sustain its return on average equity in excess of 20% per
annum;
-- grow its customer lending at c.15% per annum, with balanced
growth in the retail and corporate businesses;
-- aim to maintain a dividend payout in the range of 25-40% of
earnings.
Bank of Georgia is a Georgia focused Bank, with real strength in
payment services and its digital platforms. Over the next few
years, the Bank will continue to develop its already market leading
data analytics capabilities and digital presence, to fully
transform both the efficiency of its banking operations and to
provide solution-based banking for the Bank's strong retail, MSME
and corporate clients.
Recent changes in the regulatory landscape, including the
implementation of Basel III capital and liquidity measures,
responsible lending standards, and de-dollarisation measures, have
significantly de-risked the Georgian banking sector. These
regulatory changes are now largely complete, and we expect them to
facilitate more sustainable lending growth over the next few years,
with a slightly lower net interest margin and a lower cost of
credit risk.
To maintain the Bank's already strong profitability, the Bank
expects to benefit from a solid net interest margin, increasing
non-interest income, a focus on efficiency and stringent cost
control, and sound risk management.
-- The net interest margin is expected to reduce by 30-40 basis
points this year, reflecting the impact of product mix changes,
increased mandatory reserve requirements and the carry-cost of the
bank's recent AT1 Note issuance. Thereafter, the Bank expects the
net interest margin to be broadly stable;
-- The Bank expects to manage to a cost/income ratio of
c.35%;
-- In Solo Banking, which now has over 47,000 clients, the Bank
is targeting to double its profit, to GEL112 million, over the next
3 years;
-- The Bank will aim to further develop a significant regional
wealth management business.
The Bank has a robust capital management track record and, from
both a CET1 and Tier 1 capital ratio perspective, will aim to
maintain a c.200 basis points buffer over the minimum regulatory
requirements.
A full set of the presentation slides can be viewed on the Group
website at: www.bankofgeorgiagroup.com
Name of authorised official of issuer responsible for making
notification: Natia Kalandarishvili, Head of Investor Relations and
Funding
About Bank of Georgia Group PLC
Bank of Georgia Group PLC ("Bank of Georgia Group" or the
"Group" - LSE: BGEO LN) is a UK incorporated holding company, which
comprises: a) retail banking and payment services, b) corporate
investment banking and wealth management operations and c) banking
operations in Belarus ("BNB"). JSC Bank of Georgia ("Bank of
Georgia", "BOG" or the "Bank"), the leading universal bank in
Georgia, is the core entity of the Group. The Group targets to
benefit from superior growth of the Georgian economy through both
its retail banking and corporate investment banking services and
aims to deliver on its strategy, which is based on at least 20%
ROAE and c.15% growth of its loan book.
JSC Bank of Georgia has, as of
the date hereof, the following
credit ratings:
Fitch Ratings 'BB-/B'
Moody's 'Ba3/NP' (FC)
& 'Ba2/NP' (LC)
For further information, please visit www.bankofgeorgiagroup.com
or contact:
Archil Gachechiladze Michael Oliver Sulkhan Gvalia Natia Kalandarishvili
CEO Adviser to the CFO Head of Investor
CEO Relations
+995 322 444 444
+995 322 444 144 +44 203 178 4034 +995 322 444 108 (9282)
agachechiladze@bog.ge moliver@bgeo.com sgvalia@bog.ge ir@bog.ge
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only and should not be construed as an offer to sell or the
solicitation of an offer to buy any securities
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END
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