Printer Friendly

IFC Capitalization Fund gives Bank of Georgia USD65m loan.

BANKING AND CREDIT NEWS-February 7, 2014-IFC Capitalization Fund gives Bank of Georgia USD65m loan


Bank of Georgia Holdings PLC, the holding company of JSC Bank of Georgia, on Thursday announced that it has received a USD65m subordinated loan facility from IFC Capitalization Fund.

The loan facility has a maturity of ten years and is intended to allow the bank to further optimise its cost of funding.

Chief executive officer of the bank Irakli Gilauri said "I am pleased with the opportunity to once again join forces with IFC and successfully close this important transaction. The subordinated loan facility, which qualifies as Tier II Capital will improve the overall capitalisation of the Bank, while at the same time help to drive down our cost of funding as it enables us to repay more costly subordinated facilities. I would like to thank our long-standing partner and shareholder IFC for continuous collaboration and our funding team for the successful completion of the transaction."

Bank of Georgia Holdings PLC is a UK-incorporated holding company of Bank of Georgia, a Georgian bank which offers a range of corporate and retail banking, wealth management, brokerage and insurance services.

((Comments on this story may be sent to

COPYRIGHT 2014 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2014 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 Banking & Credit News (BCN)
Date:Feb 7, 2014
Previous Article:Halifax house price index shows increase over last three months.
Next Article:Kazkommertsbank proposes acquisition of BTA.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |