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-Bank of Georgia closes Ukrainian brokerage unit.

Global Banking News-November 1, 2011--Bank of Georgia closes Ukrainian brokerage unit(C)2011 ENPublishing -

Global Banking News - 01 November 2011

Bank of Georgia Bank of Georgia (Georgian: საქართველოს ბანკი, transliterated as 'sakartvelos banki') is a leading universal Georgian bank with operations in Georgia (country) and Ukraine.  (LSE LSE - Language Sensitive Editor : BGEO) has said that it has closed the Ukrainian unit of its brokerage operation, BG Capital, based in Kiev, amid the changing business and political climate in the country.

'In line with Bank of Georgia's strategy to focus more on its home market, and given the changing business and political climate in Ukraine, the Bank has decided to close BG Capital's Ukrainian office,' said chief executive, Nick Piazza piazza

Open square or marketplace, surrounded by buildings, in an Italian town or city. It was equivalent to the plaza of Spanish-speaking countries. The term became more widely used in the 16th–18th century, denoting any large open space with buildings around it.
, adding 'As of today, the Kiev office is officially closed.'

BG Capital will no longer cover or make a market in Ukrainian stocks, the bank said.

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Publication:Global Banking News (GBN)
Date:Nov 1, 2011
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