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Meeting with the president of The National Bank of Georgia

13 May '19

On 13th of May, Business Association of Georgia held the meeting with the president of The National Bank of Georgia, Mr. Koba Gvenetadze. The meeting between BAG member companies’ representatives and the president of NBG was also attended by Vice presidents of NBG Mr. Archil Mestvirishvili and Mr. Papuna Lezhava and with the special invitation of BAG, The president of the Association of Banks of Georgia, Mr. Aleksandre Dzneladze.

As BAG unites 72 largest companies in the country including developers, retail and 9 finance institutes the meeting went on with big interest.
The president of the National Bank of Georgia, in his speech highlighted that communication with business representatives is very important and National Bank does its best to keep communication of this kind of format: “As you are informed, many changes such as the minimization of the dollarization, changes made in the nonbanking and nonfinancial sector have been made in the last three years which influenced business sector. That’s why it is very important to keep the communication with the business representatives to hear from you how this changes work and take into account your opinion”.

After the National Bank President’s presentation, the meeting continued in Q/A format.
After the meeting Mr. Koba Gvenetadze mentioned that the meetings will be continued and if the changes are needed, they will be taken. However the main principle – which implies that the loaners have to be solvent will not change.

“There are two industries: Developers and the retailers which are affected by the changes and if we want to develop business, it’s obvious that we have to support every business direction .That’s why in future months we will watch carefully and only after professional analysis the National Bank will make decisions. Both sides agree that the responsible lending is an essential issue” – mentioned the president of BAG, Mr. Soso Pkhakadze in his interview after the meeting.