| Type | Joint Stock Company |
|---|---|
| Traded as | LSE: BGEO This article includes content derived from the Great Soviet Encyclopedia, 1969–1978, which is in the public domain. |
| Industry | Banking Financial Services |
| Founded | 1994[1] (Binsotsbank is privatized, renamed Bank of Georgia) |
| Headquarters |
3 Pushkini Str., Tbilisi, Georgia (country) |
| Number of locations | 142 branches[2] |
| Area served | Georgia (country), Israel, United Kingdom |
| Key people | Irakli Gilauri (Chief Executive Officer) |
| Products | Finance and insurance Consumer Banking Corporate Banking Insurance Leasing Trade Finance Wealth Management Private Equity Mortgages Card Processing Services |
| Revenue | US$ 78.2 million (2010)[3] |
| Profit | US$ 17.9 million (2011)[3] |
| Total assets | US$ 2,306.7 million (2011)[3] |
| Total equity | US$ 736.5 million (2011)[3] |
| Employees | 3,150 (Q1 2011)[3] |
| Website | BOG.ge |
JSC Bank of Georgia (Georgian: საქართველოს ბანკი, transliterated as 'sakartvelos banki') is a leading Georgian universal bank, providing a full range of commercial and investment banking, wealth management, insurance, trade finance, leasing and card processing services to its corporate and retail clients. The largest retail bank in the country with an 36% market share by total assets, Bank of Georgia serves 739,522 retail clients through its network of 142 branches and 405 ATMs (the largest ATM footprint in Georgia), as well as through other delivery channels including the Internet, mobile banking and state-of-the-art call center. The bank, together with its wholly owned subsidiaries, is organized into the following Strategic Business Units ("SBU"s) – Retail Banking (RB), Corporate Banking (CB), Insurance and Corporate Center (CC) and Business Units ("BU"s) - Wealth Management (WM) and BG Capital. The bank's net income for Q4 2010 amounted to GEL 25.7 million (US$14.5 million) on a consolidated basis, while its equity book value and total assets stood at approximately GEL 692.7 million (US$390.7 million) and GEL 4,098.9 million (US$2,312.1 million), respectively*. As at 30 September 2010, the bank's ROAE and ROAA were 15.0% and 2.7%, respectively.
On 29 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 (LSE: BGEO). A benchmark stock on the Georgian Stock Exchange (GSE: GEB), Bank of Georgia has been listed on the GSE since 2001. As of 30 September 2010, the bank was approximately 93% institutionally owned, with the remainder owned by senior management and approximately resident and non-resident retail shareholders. Bank of Georgia remains to be the only Georgian entity to be rated by all three global rating agencies: ‘B/B’ from Standard & Poor’s, ‘B1/NP’ (FC) & ‘Ba3/NP’ (LC) from Moody’s and ‘B+/B’ from Fitch Ratings.
In March 2008, 2009 and 2010 Bank of Georgia received Best Bank In Georgia 2008, Best Bank in Georgia 2009 and Best Bank in Georgia 2010 Awards from Global Finance Magazine.
In July 2005, 2006, 2007, 2008, 2009 and 2010 Euromoney, a leading capital markets publication, named Bank of Georgia the winner of the Best Bank in Georgia Award for Excellence. In December 2006, 2007, 2008 and 2009 Bank of Georgia received The Bank of The Year Award for Georgia from The Banker, the publication of Financial Times Business Ltd, a member of the Financial Times group of companies.