Financial and Banking Page

FROM THE REDACTION

In the last decade of September among the shares put up for sale at the Stock Exchange the deal was made on the shares of “Bank of Georgia”, “Tbilelektroaparati”, “Tbilgvino”, “Transmsheni”, and “The United Georgian Bank”. The total cost of the deals made up 560 332 GEL.

32 760 GGEL worth of securities was sold at the Georgian Stock Exchange. Out of the companies’ shares put up for sale, the deal was made on the shares of “Charkhmshenebeli”, “Maspindzeli”, and “Bank of Georgia”. The total cost of the deals made up 32 760 GE. Out of the companies’ shares put up for sale in October the deal was made on the shares of “Bank of Geogia”, “Business Center” located in Vazha Pshavela avenue, “Sakkalakmshenproekti”, “Saktransproekti – Green Office”, and “Tbilelektroaparati”. The total volume of the deals made up 89 743 GEL. The total cost of the shares of “Georgian Bank”, “Tbilelektroaparati”, and “Tbilisi” department store made up 41 226 GEL. At the same time the deals on the shares of “Sharkhvmshenebeli”, “Maspindzeli”, and “Bank of Georgia” were made. The total cost of the deals made up 32 760 GEL.
Among the companies’ shares put up for sale at the Georgian Stock Exchange the deals with the total cost of 89 743 GEL were made on the shares of “Bank of Georgia”, “Business Centre” located in Vazha Pshavela avenue, “Sakkalakmshenproekti”, “Saktransproekti – Green Office”, and “Tbilelektroaparati”. The total cost of the shares of “Georgian Bank”, “Tbilelektroaparati”, and “Tbilisi” department store made up 41 226 GEL. In all, the volume of the deals made up 29 457 GEL.
Banking Sector
According to the data of the Georgian National Bank, since the beginning of this year the percentage change of the excising cash money in the circulation of the largest component of the reserve money makes up 9,4%, while its volume has increased to 739,5 million GEL.
The increasing of the authorized capital of the Georgian National Bank from 15 to 40 million GEL is expected, which is envisaged by the international obligations. In particular, according to the recommendation of the Basel Committee on Banking Regulation, the authorized capital of the Central Bank should not be less than 8-10% of the total assets.
According to the information of the National Bank, the total assets of the bank make up 1 billion GEL, and the current authorized capital does not exceed 15 million GEL, which is less than 1% of the capital. A similar situation does not exist anywhere in the post soviet space, including such small countries as Armenia and Moldova.
Increasing of the National Bank’s authorized capital to 40 million GEL is envisaged by the changes in the “Law on the National Bank”, which will be considered by the parliament during the first session week in November.