Georgian Association of Banks forecasts bank consolidation

Georgia, Tbilisi, March 7 / Trend, N.Kirtskhalia /

The Association of Banks of Georgia does not rule out the consolidation of commercial banks this year, President Zurab Gvasalia told the Kommersant radio on Wednesday.

However, he said, the merger of banks does not mean there are problems. Consolidation is not ruled out this year, and 2012 will be very interesting in this regard, he said.

According to Kommersant, major players are in talks on consolidation.