Integration of Bank “Republic” to “Societe Generale”

Nino Arveladze

General Director of Bank “Republic” (Societe Generale group) Gilbert Hie held seminar in May 5, by the National Bank of Georgia initiative.

Bank “Republic” started collaboration with international finance corporations in 2006, its second shareholder is European Bank of Reconstruction and Development (EBRD), which collaborates with different Georgian banks for already ten years period and ensures enterprises and commercial business projects financing. EBRD intended for 61 countries and two intergovernmental sources, it acts in Georgia up from 1991 and has financed more then 30 projects of 2 billion euros”. “Societe Generale” and EBRD have several common realized projects.
Gilbert related to Georgian banking sector current tendencies during the meeting. He noted that Georgians wish low percent rates on high loans deposits, but such huge difference will not be allowed by any bank. While talking on the investitions he excluded making investitions in housing, despite of current boom, because of constructing firms’ middle level and added that they will just review the issue in the case of large constructing company appearing in Georgia. He also excluded in Georgia shares carrying out on the stocks, because shares of “Societe Generale” are already carried out on Paris stocks.
Recent business condition of the bank “Republic” appeared to be tension like of any other independent bank of Georgia, because market and economy small measure, local finance market limited resources, political and economy risks. International finances become approachable for the bank for today and its work got relatively easier.
The strategy of the bank “Republic” aims active work, as in corporative so in retrial spheres. It owns 24 branches for today and schedules 10 additional branches foundation in 2007. The bank “Republic” is intensively involved in mortgage credit market, and faces high statement in consumer credit sector. Most part of physical individuals use the service. The bank importantly supports small entrepreneurs all over Georgia concerning micro finance sector.
Bank “Societe Generale” was founded in 1864; It is 7th largest French company concerning market capitalization and one of leader Euro zone organization. The team faced two- times growth during 6 years period. The company characterized with high level income statement, work effectiveness and risk strict management. More then 120 000 team collaborators provide three basic business services all over the world:
Retrial and financial service: “Societe Generale” serves more then 22. 5 billion consumers all over the world.
Global investition management and service: “Societe Generale” is one of larges Euro zone bank (EUR 2, 262 billion) and management asserts (EUR 422 billion, according to 2006).
Corporative and Investment bank: “Societe Generale” is world leader bank on Euro finance market, derivations and structural finances.
According to social responsibility realized investitions, “Societe Generale” keeps position of top five concerning indexes level.
The bank is equally strong as well as in corporative, so individual clients’ service sphere. The bank constantly attempts corporative clients` service improvement, for making easier international trade operations providing for every client. Every Georgian importer may tubeless take bank “Republic” acridities and the bank partners will make easer calculation with “Societe Generale” among Georgian importers and world different counties foreign suppliers, what can maintain entire country finance and economy development.