Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
WorldAugust 1 2014

Streamlining Bank of Georgia

Bank of Georgia may be sitting comfortably as the largest bank in the eastern European country, but it is not resting on its laurels, with plans to divest some of its acquisitions to focus on its core banking business. 
Share the article
twitter-iconcopy-link-iconprint-icon
share-icon

Bank of Georgia has an unusual business model. The largest bank in Georgia by assets, Tier 1 capital and market share also owns 36 healthcare centres and 1907 hospital beds.

Bank of Georgia initially acquired its insurance and healthcare business Aldagi through the liquidation of real estate collateral. It is now one of the country’s largest providers of life and non-life insurance with a 30% market share as of December 2013, according to Georgia’s insurance supervisory agency. In 2013, the business reported profits of La25m ($14m) of Bank of Georgia’s total of La209m of full-year profits.

To continue reading, join our community and benefit from

  • In-depth coverage across key markets
  • Comments from financial leaders and policymakers worldwide
  • Regional/country bank rankings and awards
Activate your free trial