Bank of Georgia Group PLC BOG and DFC sign US$100mln long-term loan facility (9305T)
November 30 2021 - 2:00AM
UK Regulatory
TIDMBGEO
RNS Number : 9305T
Bank of Georgia Group PLC
30 November 2021
London, 30 November 2021
JSC Bank of Georgia signs US$ 100 million long-term facility
with DFC
Bank of Georgia Group PLC ("the Group") announces that its
subsidiary, JSC Bank of Georgia (the "Bank" or "Bank of Georgia")
and the U.S. International Development Finance Corporation ("DFC")
have signed a US$ 100 million loan agreement with a maturity of
over 11 years. The facility will enable Bank of Georgia to on-lend
to micro-, small-, and medium-sized business customers to minimise
the impact of the COVID-19 pandemic-related economic implications
in Georgia, including expanding access to finance and increasing
our support to female-led enterprises.
Archil Gachechiladze , Bank CEO commented: "I am delighted to
join forces with DFC to extend much-needed long-term financing to
micro-, small-, and medium-sized businesses in Georgia. This is our
first cooperation with DFC since 2018 and this facility with its
long-term tenor will enable us to continue to offer the most
relevant financial products to our business customers. DFC has been
a valuable partner for Bank of Georgia for many years and we highly
appreciate their continuous commitment in supporting the
development of the Georgian economy."
Algene Sajery , DFC's Vice President of the Office of External
Affairs and Head of Global Gender Equity Initiatives, commented:
"DFC's support to JSC Bank of Georgia through this loan facility
will help bolster micro-, small-, and medium-sized enterprises in
Georgia recovering from the COVID-19 pandemic, including rural and
women-owned businesses, which will be key to mobilise communities
toward economic recovery. We are thrilled to support this
investment which supports DFC's 2X Women's Initiative by empowering
and unlocking the economic potential of women across the developing
world."
Name of authorised official of issuer responsible for making
notification: Natia Kalandarishvili, Head of Investor Relations and
Funding
About Bank of Georgia Group PLC
Bank of Georgia Group PLC ("Bank of Georgia Group" or the
"Group" - LSE: BGEO LN) is a UK incorporated holding company, which
comprises: a) retail banking and payment services; b) corporate
banking and investment banking operations in Georgia; and c)
banking operations in Belarus ("BNB"). JSC Bank of Georgia ("Bank
of Georgia", "BOG" or the "Bank"), the systemically important and
leading universal bank in Georgia, is the core entity of the Group.
The Bank is a leader in payments business and financial mobile
application, with the strong retail and corporate banking franchise
in Georgia. With a continued focus on increasing digitalisation and
expanding technological and data analytics capabilities, the Group
aims to offer more personalised solutions and seamless experiences
to its customers to enable them to achieve more of their potential.
The Group aims to benefit from growth of the Georgian economy, and
through both its Retail Banking and Corporate and Investment
Banking services targets to deliver on its strategy, which is based
on at least 20% ROAE and c.10% growth of its loan book in the
medium-term .
JSC Bank of Georgia has, as of the
date hereof, the following credit
ratings:
Fitch Ratings 'BB-/B'
Moody's 'Ba2/NP'
For further information, please visit www.bankofgeorgiagroup.com
or contact:
Archil Gachechiladze Michael Oliver Sulkhan Gvalia Natia Kalandarishvili
CEO Adviser to the CFO Head of Investor
CEO Relations
+995 322 444 444
+995 322 444 144 +44 203 178 4034 +995 322 444 108 (9282)
agachechiladze@bog.ge moliver@bgeo.com sgvalia@bog.ge ir@bog.ge
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