Bank of Georgia

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Bank of Georgia
Joint Stock Company
Traded asLSEBGEO
Financial Services
Number of locations
266 branches
Area served
Georgia, Israel, United Kingdom, Hungary, Turkey
Key people
Irakli Gilauri
Kaha Kiknavelidze
ProductsFinance and insurance
Consumer Banking
Corporate Banking
P&C insurance
Trade Finance
Wealth Management
investment management
Card Processing Service
RevenueGeorgian Lari 1,080.6 million (2017)[1]
Georgian Lari 667.6 million (2017)[1]
Georgian Lari 463.4 million (2017)[1]

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.[2]

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.[3] The shares of BGEO were 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 on 28 February 2012.[4]

Bank of Georgia has credit ratings from: S&P: ‘BB -’,[5] Moody's: ‘B1/Ba3’ (foreign and local currency),[6] and Fitch Ratings: ‘BB-’; outlooks are ‘Stable’.[7]


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.[8]

Bank of Georgia was first listed on the Georgian Stock Exchange in 2001 and then merged with Tbiluniversalbank in 2004.[9] In 2004 Bank of Georgia acquired the BCI insurance company.[10]

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.[11] Then in December 2006 Bank of Georgia's insurance subsidiary, BCI, announced the acquisition of the Aldagi Insurance Company.[12] In 2006 Bank of Georgia acquired Intellect Bank’s assets and liabilities.[13]

In 2007 Bank of Georgia acquired 98.77% of Universal Bank of Development & Partnership in Ukraine (later renamed BG Bank).[14] Then in May 2008, Bank of Georgia bought a 70% equity interest in Belarusky Narodny Bank, a Belarus Bank.[15] In 2009 the Bank started to issue the American Express Card and the American Express Gold Card issued in Georgia.[16] In 2010 Bank of Georgia sets up a UK subsidiary company, Bank of Georgia Representative Office UK Limited in London.[17] In 2011 Bank of Georgia sold its 80% interest in BG Bank of Ukraine.[18] In fall of 2011 Bank of Georgia moved to its new Headquarters.[19] In February 2012 Bank of Georgia gained a premium listing on the London Stock Exchange.[20] In May 2012 Aldagi BCI acquired a controlling interest in Imedi L, a large insurer.[21] On 15 June 2012 Bank of Georgia joined the FTSE 250 Index.[22] In December 2014 Bank of Georgia announced the acquisition of PrivatBank Georgia.[23]

In 2018 the business carried out a demerger splitting itself into two separate entities with the Bank of Georgia Group focusing on banking in Georgia while the new business, Georgia capital, carries out the health and investment activities formerly delivered by the bank.[24]

Bank of Georgia, Headquarters, Georgia, Tbilisi, Gagarini str. 29a


Bank of Georgia is based in the capital, Tbilisi, and has 197 branches.[25]


  1. ^ a b c "Annual Report 2017" (PDF). Bank of Georgia. Retrieved 20 March 2018.
  2. ^ "Investor Presentation: 2Q16 & 1H16 results" (PDF). BGEO. Retrieved 14 September 2016.
  3. ^ "2nd quarter and half-year 2016 results" (PDF). BGEO. Retrieved 14 September 2016.
  4. ^ "BGEO GRP share price (BGEO)". London Stock Exchange. 2012-02-29. Retrieved 2016-09-14.
  5. ^ "Bank of Georgia" (PDF). S&P. Retrieved 14 September 2016.
  6. ^ "Moody's: Bank of Georgia and TBC Bank set for robust expansion in 2015". 2015-01-23. Retrieved 2016-09-14.
  7. ^ "Press Release". Retrieved 2016-09-14.
  8. ^ "BNE talks to the chairman of the Bank of Georgia" Archived 2013-09-28 at the Wayback Machine. BNE, 26 April 2007
  9. ^ "Japan and the EBRD" (PDF), p. 12.
  10. ^ Bank of Georgia acquires BCI Georgian Messenger, 7 December 2004
  11. ^ Fitch Affirms Four Georgian Banks.
  12. ^ "Bank of Georgia Buys into Aldagi Insurance Company"., 22 December 2006.
  13. ^ "CIS & Russia" (PDF). London Stock Exchange Group. Retrieved 23 March 2015.
  14. ^ Bank of Georgia Buys Ukrainian Bank, 11 October 2007
  15. ^ Bank of Georgia Buys Belarus Bank Georgian Daily, 13 May 2008
  16. ^ American Express business credit cards available for Georgian companies Archived 2013-11-05 at the Wayback Machine Georgia Today, 9 February 2012
  17. ^ Bank of Georgia sets up Representative Office Bloomberg
  18. ^ Bank of Georgia sells Ukraine subsidiary Reuters, 11 February 2011
  19. ^ "JSC Bank of Georgia announce its move to new Headquarters". Investegate, December 5, 2011. Retrieved May 17, 2017.
  20. ^ Georgian state railway builds up steam ahead of London IPO City AM, 17 April 2012
  21. ^ Aldagi BCI acquires controlling interest in Imedi L Archived 2013-09-28 at the Wayback Machine Georgia Today, May 2012
  22. ^ Bank of Georgia Holdings to enter FTSE indices Bloomberg, June 2012
  23. ^ Bank of Georgia to acquire PrivatBank’s Georgian subsidiary bank, Privatbank, 5 December 2014
  24. ^ "Bank of Georgia completes demerger". Stock market wire. Retrieved 30 June 2018.
  25. ^ IFC: Banking On Women – Changing the Face of the Global Economy IFC, 7 September 2012

External links[edit]