Bank of Georgia (abbreviated as BOG or BoG) is a Georgian bank headquartered in Tbilisi, Georgia. It is the largest bank in Georgia by assets.
As of 31 March 2016, Bank of Georgia served approximately 2.0 million client accounts through operating 266 branches, 753 ATMs, 2,627 self-service terminals, a remote banking platform and a call center, countywide. 99.52% of the share capital of Bank of Georgia is held by BGEO Group PLC, a public limited liability company incorporated in England and Wales with registered number 07811410. The shares of BGEO are admitted to the premium listing segment of the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange PLC’s Main Market for listed securities, effective 28 February 2012.
Bank of Georgia has credit ratings from: S&P: ‘BB -’, Moody's: ‘B1/Ba3’ (foreign and local currency), Fitch Ratings: ‘BB-’; outlooks are ‘Stable’.
History
The bank was established in 1903, nationalized by the communists and became known as Binsotsbank before it was privatized again and renamed the Bank of Georgia in 1994.
Bank of Georgia was first listed on the Georgian Stock Exchange in 2001 and then merged with Tbiluniversalbank in 2004. In 2004 Bank of Georgia acquired the BCI insurance company.
In November 2006, Bank of Georgia became the first company from Georgia and the second bank from the CIS to list its shares in the form of GDRs on the London Stock Exchange. Then in December 2006 Bank of Georgia's insurance subsidiary, BCI, announced the acquisition of the Aldagi Insurance Company. In 2006 Bank of Georgia acquired Intellect Bank’s assets and liabilities.
In 2007 Bank of Georgia acquired 98.77% of Universal Bank of Development & Partnership in Ukraine (later renamed BG Bank). Then in May 2008, Bank of Georgia bought a 70% equity interest in Belarusky Narodny Bank, a Belarus Bank. In 2009 the Bank started to issue the American Express Card and the American Express Gold Card issued in Georgia. In 2010 Bank of Georgia sets up a UK subsidiary company, Bank of Georgia Representative Office UK Limited in London. In 2011 Bank of Georgia sold its 80% interest in BG Bank of Ukraine. In fall of 2011 Bank of Georgia moved to its new Headquarters. In February 2012 Bank of Georgia gained a premium listing on the London Stock Exchange. In May 2012 Aldagi BCI acquired a controlling interest in Imedi L, a large insurer. On 15 June 2012 Bank of Georgia joined the FTSE 250 Index. In December 2014 Bank of Georgia announced the acquisition of PrivatBank Georgia.
Operations
Bank of Georgia is based in the capital, Tbilisi, and has 197 branches.
References
External links
- Bank of Georgia (English website)
