Bank of Georgia Group PLC BOG receives US$10mln subordinated loan from EFSE (9769D)
01 Julio 2019 - 01:10AM
UK Regulatory
TIDMBGEO
RNS Number : 9769D
Bank of Georgia Group PLC
01 July 2019
London, 1 July 2019
JSC Bank of Georgia receives a US$10 million subordinated loan
from EFSE
Bank of Georgia Group PLC announces that its subsidiary, JSC
Bank of Georgia (the "Bank" or "Bank of Georgia") and the European
Fund for Southeast Europe ("EFSE") have entered into a US$10
million subordinated loan agreement with a maturity of 10 years.
The subordinated loan facility qualifies for Tier II capital under
the Basel III framework recently introduced in Georgia and will
further improve the overall capitalisation of the Bank.
Archil Gachechiladze, Bank of Georgia CEO commented: "I am
pleased to see that our long-term partnership with EFSE has yielded
our yet another transaction which is aimed at further improving our
capital position under the Basel III regulations and will support
further lending growth while maintaining strong capital ratios.
This subordinated loan facility is our latest transaction, in 2019,
dedicated to capital optimisation, following the issuance of US$100
million Additional Tier 1 Capital Notes, and the repayment of a
US$65 million subordinated loan, earlier this year, to optimise our
cost of funding. With an ever stronger and diversified capital
structure, we are well-positioned to continue growing our customer
lending in 2019 and beyond."
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
This news report is presented for general informational purposes
only and should not be construed as an offer to sell or the
solicitation of an offer to buy any securities
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCUGUQUMUPBUQG
(END) Dow Jones Newswires
July 01, 2019 02:10 ET (06:10 GMT)
Bank Of Georgia (LSE:BGEO)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Bank Of Georgia (LSE:BGEO)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024