Fitch: Georgian banks face low competition

Business Materials 21 July 2011 17:05 (UTC +04:00)

Georgia, Tbilisi, July 21 / Trend N.Kirtzkhalia /

The International rating agency Fitch names new challenges for the Georgian banking sector. These challenges were announced at the agency's meeting with representatives of the Georgian banking sector in Tbilisi.

Fitch Ratings conducted a meeting in Tbilisi on "Georgian banks: growth in an increasingly competitive environment."

A wide range of issues are viewed. The issues are growth in lendingand deposits, Georgia's place in a developing world of banking market, etc.

The agency's experts say the Georgian banks have successfully overcome
the financial crisis and its aftermath, but now their main problem is
the low competition. Analysts estimate that the main task is to
increase competition in the banking market in Georgia.