BAKU, Azerbaijan, Feb.12
By Tamilla Mammadova – Trend:
EU and the EBRD through its Capital Market Development Team will assist the National Bank of Georgia with the design and implementation of support mechanisms, Trend reports via Georgian media.
As reported, these will facilitate access to capital markets - both debt and equity - for local corporates.
Targeted support will be provided to objectively selected Georgian companies to enhance their capital markets preparedness, broaden their funding sources and attract financing from domestic and international investors.
The companies will be offered tailor-made advisory services and technical or financial support to improve their corporate governance, transparency, credit rating to source investments across capital markets.
As of January 1, 2021, the banking sector in Georgia is represented by 15 commercial banks, including 14 - foreign-controlled banks.
In December 2020, compared to the previous month, the total assets of Georgian commercial banks (in current prices) increased by 966.9 million lari ($293.8 million), or by 1.73 percent, and constituted 56.9 billion lari ($17.2 billion).
The banking sector’s equity capital equals 5.85 billion lari ($1.7 billion), which makes up 10.28 percent of the commercial banks total assets.
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