Bank of Georgia Group PLC BOG signs US$50 million Trade Facility with Citi (7834I)
13 Agosto 2019 - 8:00AM
UK Regulatory
TIDMBGEO
RNS Number : 7834I
Bank of Georgia Group PLC
13 August 2019
London, 13 August 2019
JSC Bank of Georgia signs US$50 million Trade Finance Facility
with Citi
Bank of Georgia Group PLC ("the Group") announces that JSC Bank
of Georgia (the "Bank" or "Bank of Georgia") has signed a one-year
US$50 million Trade Finance Facility ("the Facility") with Citi.
The Facility has been arranged under the Continuing Agreement for
Reimbursement of Trade Advances ("CARTA"), signed with Citi in
2011, and is the third successful transaction between Citi and Bank
of Georgia under this agreement. The Facility aims to enhance the
Bank's best-in-class offering of trade finance solutions for the
Georgian corporate and small and medium sized (SME) sectors.
Archil Gachechiladze, Bank CEO commented: "I am very glad to see
that Bank of Georgia and our trusted partner Citi continue to
actively cooperate on trade finance deals, which enable us to
strengthen our position as a go-to bank for tailor-made trade
finance products in Georgia. Facilities of this kind are important
for our corporate, as well as SME clients that are actively engaged
in export-import transactions and we aim to remain a reliable
financial support for them."
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 and
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 and 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
Group CEO Adviser to the Group 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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END
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