Bank of Georgia

Bank of Georgia offers retail banking, corporate banking, wealth management, brokerage and insurance and healthcare services. Bank of Georgia’s UK incorporated holding company, Bank of Georgia Holdings plc, is listed on the main market of the London Stock Exchange (BGEO:LN) and is a constituent of the FTSE 250 Index. Bank of Georgia remains to be the only Georgian entity to be rated by all three global rating agencies: ‘BB-/B' from Standard & Poor's, ‘B1/NP’ (FC) & ‘Ba3/NP’ (LC) from Moody’s and ‘BB-/B’ from Fitch Ratings.

History

The bank was established in 1903, nationalized by the communists and became known as Binsotsbank before it was privatized again and renamed the Bank of Georgia in 1994.

Bank of Georgia was first listed on the Georgian Stock Exchange in 2001 and then merged with Tbiluniversalbank in 2004. In 2004 Bank of Georgia acquired the BCI insurance company.

In 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. Then in December 2006 Bank of Georgia's insurance subsidiary, BCI, announced the acquisition of the Aldagi Insurance Company. In 2006 Bank of Georgia acquired Intellect Bank’s assets and liabilities.