DOCSLIB.ORG

Retail Banking and Payment Services, and B) Corporate Investment Banking and Wealth Management Operations in Georgia, and C) Banking Operations in Belarus (“BNB”)

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Retail Banking and Payment Services, and B) Corporate Investment Banking and Wealth Management Operations in Georgia, and C) Banking Operations in Belarus (“BNB”) Strategic Report Strategic Report Strategic Report Financial Additional Overview Strategy Performance Governance Statements Information About us Bank of Georgia Group PLC Bank of Georgia Group PLC (“Bank of Georgia Group”, the “Group”, or “BOGG” and on the LSE: BGEO LN) is a UK incorporated holding company, the new parent company of BGEO Group PLC. The Group combined a Banking Business and an Investment Business prior to the Group Demerger on 29 May 2018, which resulted in the Investment Business’s separation from the Group effective from 29 May 2018. The Group comprises: a) retail banking and payment services, and b) corporate investment banking and wealth management operations in Georgia, and c) banking operations in Belarus (“BNB”). JSC Bank of Georgia (“Bank of Georgia”, “BOG” or the “Bank”), the leading universal bank in Georgia, is the core entity of the Group. The Group intends to benefit from significant growth of the Georgian economy through both its Retail Banking and Corporate Investment Banking services and aims to deliver on its strategy, which is based on at least 20% Return on Average Equity (ROAE) and 15-20% growth of its loan book. See page 22 for our current business model and page 20 for more on the Demerger. Find the digital version of this report on our corporate website at: ANNUAL REPORT 2018 REPORT ANNUAL www.bankofgeorgiagroup.com Annual Report 2018 Bank of Georgia Group PLC 01 Strategic Report Strategic Report Strategic Report Financial Additional Overview Strategy Performance Governance Statements Information Contents Strategic Report 01-101 Financial Statements 154-283 Overview Independent Auditor’s Report 155 Financial Highlights 04 Consolidated Statement of Financial Position 166 Operating Highlights 05 Consolidated Income Statement 167 At a Glance 06 Consolidated Statement of Comprehensive Income 169 Chairman’s Statement 10 Consolidated Statement of Changes in Equity 170 Chief Executive Officer’s Statement 12 Consolidated Statement of Cash Flows 172 Separate Statement of Financial Position 174 Separate Statement of Changes in Equity 175 Strategy Separate Statement of Cash Flows 176 Industry and Market Overview 14 Notes to Consolidated and Separate Company Financial Statements 177 Group History 20 Current Business Model and Strategy 22 Delivering on Current Strategy 23 Superior Access to Funding 42 Additional Information 284-288 Key Performance Indicators 44 Risk Management 48 Principal Risks and Uncertainties 60 Abbreviations 285 Going Concern and Viability Statements 68 References 286 Resources and Responsibilities 70 Glossary 287 Shareholder Information 288 Performance Overview of Financial Results 86 Governance 102-153 Directors’ Governance Overview 103 Shareholder and Stakeholder Engagement 110 Board of Directors 111 Executive Management 115 Nomination Committee Report 117 Audit Committee Report 121 Risk Committee Report 126 Directors’ Remuneration Report 129 Statement of Directors’ Responsibilities 149 Directors’ Report 150 02 Annual Report 2018 Bank of Georgia Group PLC Annual Report 2018 Bank of Georgia Group PLC 03 Strategic Report Strategic Report Strategic Report Financial Additional Overview Strategy Performance Governance Statements Information Financial highlights Operating highlights The effectiveness of our strategy is reflected 2018 operating highlights reflect the expanding in the strong 2018 financial results highlighted below footprint of our Banking Business in Georgia Revenue Cost to (GEL million) Banking Business income ratio Banking Business Number of Retail Banking clients Banking branches 2016 773.9 2016 37.7% 2.4mln 276 1,030.0 2017 909.3 36.7% 2017 37.7% +13.3% y-o-y 2018 1,030.0 -100 bps y-o-y 2018 36.7% +5.4% (over 2017) -10 (over 2017) Profit before non-recurring items and income tax Return on equity* (GEL million) Banking Business Banking Business Number of cards Express Pay terminals 2016 314.6 2016 22.2% 2.2mln 3,115 492.6 2017 400.4 26.1% 2017 25.2% (over 2017) +23.0% y-o-y 2018 492.6 +90 bps y-o-y 2018 26.1% -2.2% +273 (over 2017) Client deposits Net loans (GEL million) Banking Business (GEL million) Banking Business POS terminals ATMs 2016 5,755.8 2016 6,681.7 14,220 876 8,133.9 2017 7,078.1 9,397.7 2017 7,741.4 +14.9% y-o-y 2018 8,133.9 +21.4% y-o-y 2018 9,397.7 +929 (over 2017) +26 (over 2017) Basic earnings per share* Tier 1 capital ratio Transactions through Transactions through (GEL) Banking Business (NBG, Basel III)** Bank of Georgia remote channels* remote channels (%)* 2016 7.68 2016 9.1% 48.4mln 78.4% 9.92 2017 9.63 12.2% 2017 12.4% +3.0% y-o-y 2018 9.92 2018 12.2% +32.1% (over 2017) +3.5 ppts (over 2017) * 2018 results were adjusted for GEL 30.3mln Demerger-related costs, GEL 8.0mln Demerger-related corporate income tax gain, and GEL 30.3mln one-off impact of remeasurement of deferred tax balances. In addition, 9,784,716 Bank of Georgia Group shares were issued to Georgia Capital as part of the Demerger process in 2018. ** Tier 1 capital ratio at 31 December 2016 is presented in accordance with NBG BASEL II guidelines. * Excluding the transactions through teller-cashiers and Express Pay (self-service) terminals. 04 Annual Report 2018 Bank of Georgia Group PLC Annual Report 2018 Bank of Georgia Group PLC 05 Strategic Report Strategic Report Strategic Report Financial Additional Overview Strategy Performance Governance Statements Information Retail Banking Client-centric, multi-brand strategy for more than 2.4 million clients We are the leading retail banking player in Georgia, serving more than 2.4 million customers through the widest network of 271 retail branches, 876 ATMs and 3,115 Express At a Glance Pay (self-service) terminals, a sales force of more than 3,000 people, along with our diverse products and services. Our Retail Banking business, the prominent component of our business, runs a client-centric, multi-brand strategy, which reaches the entire spectrum of retail customers through three well-established and recognised brands: Express designed to service emerging retail customers with minimal incremental operational costs through cost-efficient distance channels such as our Express Pay terminals, internet and mobile banking and technology-intensive Express branches. Bank of Georgia providing long-established traditional banking services to our mass retail clients. SOLO targeting mass affluent customers and providing a unique blend of banking and lifestyle products and services. MSME Bank of Georgia serves micro, small and medium-sized enterprises (MSME) through two respectively dedicated segments under the Retail Banking business. By the end of 2018, our MSME client base grew to 195,230 customers. Gross loan book Client deposits (GEL billion) Market share* (GEL billion) Market share* 6.4 37.5% 4.3 36.9% +24.5% y-o-y +32.8% y-o-y * Market shares by loans and by deposits to individuals, respectively. 06 Annual Report 2018 Bank of Georgia Group PLC Annual Report 2018 Bank of Georgia Group PLC 07 Strategic Report Strategic Report Strategic Report Financial Additional Overview Strategy Performance Governance Statements Information Corporate Investment Banking Wealth Management Integrated solutions for our CIB clients We are an established leader of investment management services in Georgia Bank of Georgia has been active in asset and wealth management since 2005. Accommodating 1,528 local and international clients from 76 countries worldwide, our Wealth Management business provides private banking services to high-net worth individual clients and offers investment management products internationally through representative offices in Eastern Europe, the Middle East and the UK. Our superior service, along with local economic stability, business friendly environment, favourable tax regime, and confidential nature of banks in Georgia, provides our clients with the unique opportunity to invest in Georgia and many foreign customers find this proposition very attractive. The Bank believes that its Wealth Management franchise can benefit by focusing on the distribution of local debt. The Bank is a leading corporate lender in the country with deep sector knowledge and local expertise. Our corporate In May 2017, we held the first regional conference of Wealth banking business is characterised by outstanding flexibility in meeting our corporate clients’ needs and offers the most Management in Tbilisi. The event aimed to introduce Georgia AUM comprehensive range of products and services in the country. We are proud to accommodate c.2,500 businesses in as a regional hub for private banking services. The prospects (GEL billion) Number of customers Georgia and play our part in developing various sectors of the economy such as trade, energy, industry and tourism, and challenges of making Georgia a regional banking centre were among others. Corporate banking additionally serves as the country’s leading trade finance business and provides discussed within the framework of the conference, including the leasing services through the Bank’s wholly-owned subsidiary, Georgian Leasing Company (GLC). In 2018, GLC was investment climate in Georgia, as well as the country’s economy 1,528 assigned a Long Term Issuer Default rating of “B+” with a positive outlook by Fitch Ratings. and banking sector. In 2018, we sponsored a number of events 2.3 in Georgia and abroad. We plan to continue to actively support +22.3% y-o-y 76 We are at the forefront of capital markets development in Georgia. We aim to leverage our superior knowledge regional events in the future. and capital markets capabilities in the Georgian and neighbouring markets both in terms of reach and the expertise Number of countries that we have accumulated during the past several years through our corporate advisory, debt and equity capital market research and brokerage practices united under Galt & Taggart, a wholly-owned subsidiary of the Group. Our brokerage business serves regional and international markets, including hard-to-reach frontier economies.
Load more

Recommended publications
  • Strategy for Georgia
    DOCUMENT OF THE EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT STRATEGY FOR GEORGIA As approved by the Board of Directors at its meeting on 4 September 2013 TABLE OF CONTENTS EXECUTIVE SUMMARY ......................................................................................... 1 1. THE BANK'S PORTFOLIO ............................................................................. 4 1.1. Overview over Bank activities to date ........................................................... 4 1.2. Implementation of the previous Country Strategy ......................................... 5 1.3. Transition impact of the Bank's portfolio ...................................................... 6 2. OPERATIONAL ENVIRONMENT ................................................................. 8 2.1. Political context ............................................................................................. 8 2.2. Macroeconomic context ................................................................................. 8 2.3. Structural reform context ............................................................................... 9 2.4. Business environment .................................................................................. 10 2.5. Social context ............................................................................................... 10 2.6. Legal context ................................................................................................ 12 2.7. Energy efficiency and climate change context ...........................................
    [Show full text]
  • Law of Georgia Tax Code of Georgia
    LAW OF GEORGIA TAX CODE OF GEORGIA SECTION I GENERAL PROVISIONS Chapter I - Georgian Tax System Article 1 - Scope of regulation In accordance with the Constitution of Georgia, this Code sets forth the general principles of formation and operation of the tax system of Georgia, governs the legal relations involved in the movement of passengers, goods and vehicles across the customs border of Georgia, determines the legal status of persons, tax payers and competent authorities involved in legal relations, determines the types of tax offences, the liability for violating the tax legislation of Georgia, the terms and conditions for appealing wrongful acts of competent authorities and of their officials, lays down procedures for settling tax disputes, and governs the legal relations connected with the fulfilment of tax liabilities. Law of Georgia No 5942 of 27 March 2012 - website, 12.4.2012 Article 2 - Tax legislation of Georgia 1. The tax legislation of Georgia comprises the Constitution of Georgia, international treaties and agreements, this Code and subordinate normative acts adopted in compliance with them. 2. The tax legislation of Georgia in effect at the moment when tax liability arises shall be used for taxation. 3. The Government of Georgia or the Minister for Finance of Georgia shall adopt/issue subordinate normative acts for enforcing this Code. 4. (Deleted - No 1886, 26.12.2013) 5. To enforce the tax legislation of Georgia, the head of the Legal Entity under Public Law (LEPL) within the Ministry for Finance of Georgia - the Revenue Service (‘the Revenue Service’) shall issue orders, internal instructions and guidelines on application of the tax legislation of Georgia by tax authorities.
    [Show full text]
  • Decree on Approving the Provisional Regulation of the Financial Supervision Agency of Georgia
    GEORGIA DECREE ON APPROVING THE PROVISIONAL REGULATION OF THE FINANCIAL SUPERVISION AGENCY OF GEORGIA Important Disclaimer This translation has been generously provided by the Financial Supervision Agency of Georgia. This does not constitute an official translation and the translator and the EBRD cannot be held responsible for any inaccuracy or omission in the translation. The text should be used for information purposes only and appropriate legal advice should be sought as and when appropriate. DECREE N1 OF HEAD OF THE FINANCIAL SUPERVISION AGENCY OF GEORGIA April 24, 2008 Tbilisi On Approving Provisional Regulation of the Financial Supervision Agency of Georgia Pursuant to the Paragraph 5, Article 70 of the Organic Law of Georgia on National Bank of Georgia I decree: 1. Approve the attached Provisional Regulation of the Financial Supervision Agency of Georgia; 2. The Provisional Regulation shall become effective upon promulgation. 3. The validity period of the Provisional Regulation shall be defined according to Paragraph 7, Article 53 of the Organic Law of Georgia on National Bank of Georgia prior to approval of the Regulation of the Financial Supervision Agency of Georgia by the Council of the Financial Supervision Agency of Georgia. G. Kadagidze Annex Financial Supervision Agency of Georgia Provisional Regulation Chapter I General Provisions Article 1. Status and Grounds for Establishing of the Agency 1. Financial Supervision Agency of Georgia (hereinafter referred to as “the Agency”) is a legal entity of the public law, established with the National Bank of Georgia, pursuant to the Organic Law of Georgia on the National Bank of Georgia and its main objective is to exercise state supervision over the financial sector.
    [Show full text]
  • THE FUTURE of BANKING «Over 70% of Georgia’S Residents Prefer to Pay with a Smartphone»
    S GENERAL SPONSOR OF THE FORUM GOLDEN SPONSOR SPONSORS Media Partners PRIME ADS AD 30 April, 2018 News Making Money http://www.fi nchannel.com THE FUTURE OF BANKING «Over 70% of Georgia’s residents prefer to pay with a smartphone» well as customers have been During the last decade, the Igor Stepanov, forced to adapt. Mastercard development of smartphones Regional Director has made a number of im- has had a profound impact portant changes over the past on the way businesses oper- of Mastercard few years. Mastercard had to ate. With the percentage of overcome signifi cant chal- the global population using in Georgia and lenges to develop eff ective smartphones increasing ev- Central Asia digital tools that meet the dif- ery year, businesses are now fering needs of the countries expected to provide a fully it operates in. Also, by mod- integrated digital platform s the digitaliza- ernizing, particularly through that can provide diff erent tion process of digital services, banks cur- services. life faces sig- rently have an opportunity to nifi cant changes, diff erentiate themselves in a companies, as crowded market. A Continued on p. 4 Bank of Georgia Invests in Social Responsibility as Part of its Obligations See on p. 6 Why would we use crypto euros? See on p. 7 How DRC Carries out the Successful Resolution of Local and International Commercial Disputes See on p. 16 CARTU BANK: Strong Bank For Stronger Georgia See on p. 9 “Digitalization is the future of banks See on p. 10 CURRENCIES Bank of the future Apr 28 Apr 21 1 USD 2.4617 2.4402 is a bank oriented 1 EUR 2.9762 3.0017 100 RUB 3.9379 3.9729 on customers 1 TRY 0.6077 0.6036 See on p.
    [Show full text]
  • წელი Years წელი Years მისალმება a Word from Our Partners
    წელი YEARS წელი YEARS მისალმება A WORD FROM OUR PARTNERS ძვირფასო მეგობრებო, Dear Clients and Friends, ოხარული ვართ, წარმოგიდგინოთ წინამდებარე t is with great pleasure that we present you this publication პუბლიკაცია, რომელიც ეძღვნება იურიდიული ფირმის dedicated to the milestone 20th anniversary of Mgaloblishvili მ „მგალობლიშვილი, ყიფიანი, ძიძიგური“ I Kipiani Dzidziguri (MKD). (MKD) 20 წლისთავს. We are celebrating 20 years of practice, during which we have grown ჩვენი ფირმის ისტორია მჭიდროდ უკავშირდება საქართველოს step by step together with our country—from the early years of its new- ly-gained independence to the signing of its Association Agreement with უახლეს წარსულს. დამოუკიდებლობის მოპოვებიდან დღეის the European Union, and beyond. Over these past two decades, we have ჩათვლით, როდესაც ყველანი ერთად ვზეიმობთ საქართველოს tried to develop ourselves, to help others to develop, and to make our ევროპულ ოჯახში დაბრუნებას, გავუმკლავდით არაერთ own contribution to the formation of a state of rule of law. Looking ahead, გამოწვევას, ვცდილობდით განვვითარებულიყავით, სხვებსაც much remains to be done, but following this path, facing challenges along დავხმარებოდით განვითარებაში და ჩვენი წვლილი შეგვეტანა the way and supporting our clients in Georgia during these very exciting სამართლებრივი სახელმწიფოს ფორმირებაში. მართალია, developments has been an amazing experience. მთავარი სირთულეები წინ არის, მაგრამ ერთი რამ შეიძლება Our well-established team has worked consistently over this period to დარწმუნებით ითქვას: ქვეყნის განვითარების ამ საინტერესო achieve the best possible results for our clients and business partners, ეტაპებში ჩართულობამ და შესაძლებლობამ, ერთგულად and have always remained dedicated to the highest standards of excel- ვემსახუროთ ჩვენს ბიზნეს პარტნიორებს, ძალიან დიდი, lence in our profession. Many of us have been part of MKD for 10, 15 or საინტერესო და მრავალმხრივი გამოცდილება შეგვძინა.
    [Show full text]
  • Analyzing the Russian Way of War Evidence from the 2008 Conflict with Georgia
    Analyzing the Russian Way of War Evidence from the 2008 Conflict with Georgia Lionel Beehner A Contemporary Battlefield Assessment Liam Collins by the Modern War Institute Steve Ferenzi Robert Person Aaron Brantly March 20, 2018 Analyzing the Russian Way of War: Evidence from the 2008 Conflict with Georgia Contents Acknowledgments ........................................................................................................................................ 1 Executive Summary ...................................................................................................................................... 3 Introduction .................................................................................................................................................. 9 Chapter I – History of Bad Blood ................................................................................................................ 13 Rose-Colored Glasses .............................................................................................................................. 16 Chapter II – Russian Grand Strategy in Context of the 2008 Russia-Georgia War ................................... 21 Russia’s Ends ........................................................................................................................................... 22 Russia’s Means ........................................................................................................................................ 23 Russia’s Ways .........................................................................................................................................
    [Show full text]
  • National Bank of Georgia Achieves Scalable
    CUSTOMER CASE STUDY ENSURING THE STABILITY OF GEORGIA’S FINANCIAL SECTOR The National Bank of Georgia (the NBG) is the central bank providing services to commercial banks. Any failure in the operation of its data center may result in downtime for critical services provided to fi nancial institutions throughout the country. To mitigate CUSTOMER NATIONAL BANK OF GEORGIA this risk, NBG is implementing various modern technologies that contribute to high availability of its services. One of the major WEB SITE achievements in this direction was the implementation of a third WWW.NBG.GOV.GE disaster recovery data center based on VMware vSphere® INDUSTRY virtualization and VMware vSAN™ shared storage. FINANCIAL SERVICES Despite the physical distance between the new data center and the LOCATION core one, its implementation was fast and e ective. Thanks to vSAN, TBILISI, GEORGIA the National Bank of Georgia has built a scalable hyperconverged KEY CHALLENGES infrastructure not bound to a specifi c hardware vendor, supporting • Provide continuous services even in instant policy changes. Considering its benefi ts, NBG will consider the event of a disaster expansion of VMware solutions and vSAN to the core datacenters • Go to a more innovative and fl exible during the future upgrades. IT infrastructure The National Bank of Georgia was the fi rst organization in the SOLUTION country to use vSAN for building a DR data center. The National Bank of Georgia built a third DR data center with VMware The National Bank of Georgia (NBG) is the central bank of Georgia. Its status is vSAN 6 and VMware vSphere defi ned by the Constitution of Georgia.
    [Show full text]
  • GEORGIA (Acting Through the Ministry of Finance of Georgia) U.S.$500,000,000 2.750% Notes Due 2026 ISSUE PRICE: 99.422%
    GEORGIA (acting through the Ministry of Finance of Georgia) U.S.$500,000,000 2.750% Notes due 2026 ISSUE PRICE: 99.422% The U.S.$500,000,000 2.750% Notes due 2026 (the "Notes") to be issued by Georgia, acting through the Ministry of Finance of Georgia (the "Issuer" or "Georgia"), will mature on 22 April 2026 (the "Maturity Date") and, unless previously purchased and cancelled, will be redeemed at their principal amount on that date. The Notes will bear interest from, and including, 22 April 2021 at the rate of 2.750% per annum payable semi-annually in arear on 22 April and 22 October in each year, commencing on 22 October 2021. This Offering Circular comprises neither a prospectus for the purposes of Part VI of the Financial Services and Markets Act 2000 (as amended) (the "FSMA"), a prospectus for the purposes of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (the "UK Prospectus Regulation"), nor listing particulars given in compliance with the listing rules made under Part VI of the FSMA by the UK Financial Conduct Authority (the "FCA") pursuant to the FSMA. Application has been made for the Notes to be admitted to the official list of the FCA (the "Official List") and to trading on the main market (the "Market") of the London Stock Exchange plc (the "London Stock Exchange"). The Notes are being offered (i) in offshore transactions in reliance on, and as defined in, Regulation S (the "Regulation S Notes") under the U.S.
    [Show full text]
  • Graduated from Georgian Polytechnic Institute, Civil Engineering Faculty, Department of Architecture
    VAKHTANG DAVITAIA. Hon FAIA. IAA. MAAM. PAACH. CURRICULUM VITAE 22.12.1934 – Born in the village Dzveli-Senaki of Senaki district, Georgia. 1958 – Graduated from Georgian Polytechnic Institute, Civil Engineering Faculty, Department of Architecture. 1958-1962 – Institute of Design “Gruzgiprogorstroi”. From 1962 to present – Post-Graduate student, assistant, assistant professor, Full professor, Chairman of the Department of architecture of Georgian Technical University (GTU). PROFESSIONAL POSITION. ELECTION. The President of Union of Architects of Georgia, 1995- 2000. The President of the Forum of Architects of the Black Sea Region, 1997-2000. Academician of International academy of Architecture /IAA/, 1994. Academician and Board member of branch of International Academy of Architecture in Moscow (MAAM), 1991. Foreign Member of Russian Academy of Architecture and Building Sciences, Foreign Member of Ukraine Academy of Architecture, Academician of Engineering Academy of Georgia, 1996. Member of the committee of state prizes for literature, art and architecture, 1992-2007. Member of the Board of Ministry of Culture of Georgia, 1996- 1999. Member of professor’s council of GTU, 1995-2005. Member of professor’s council of State Academy of fine arts of Tbilisi, 1995-2005. TITLE. Master of Arts of Georgia. “Knight of Architecture”, “Knight of Culture”. AWARDED. The Highest award of Georgian Technical University – The Medal of Giorgi Nikoladze. 2004. HONORARY MEMBERSHIP. Honorary Fellow of American Institute of Architects, 1991. Honorary Professor of Mal del Plata National University, 1987, (Argentina) and of Architectural College Jalisco State, 1988, (Mexico). Visiting professor of Ball State University, 1989, 1991, (USA). Honorary Citizen of Poti, 1980, (Georgia) and Muncie, 1989, (Indiana, USA).
    [Show full text]
  • Georgian Country and Culture Guide
    Georgian Country and Culture Guide მშვიდობის კორპუსი საქართველოში Peace Corps Georgia 2017 Forward What you have in your hands right now is the collaborate effort of numerous Peace Corps Volunteers and staff, who researched, wrote and edited the entire book. The process began in the fall of 2011, when the Language and Cross-Culture component of Peace Corps Georgia launched a Georgian Country and Culture Guide project and PCVs from different regions volunteered to do research and gather information on their specific areas. After the initial information was gathered, the arduous process of merging the researched information began. Extensive editing followed and this is the end result. The book is accompanied by a CD with Georgian music and dance audio and video files. We hope that this book is both informative and useful for you during your service. Sincerely, The Culture Book Team Initial Researchers/Writers Culture Sara Bushman (Director Programming and Training, PC Staff, 2010-11) History Jack Brands (G11), Samantha Oliver (G10) Adjara Jen Geerlings (G10), Emily New (G10) Guria Michelle Anderl (G11), Goodloe Harman (G11), Conor Hartnett (G11), Kaitlin Schaefer (G10) Imereti Caitlin Lowery (G11) Kakheti Jack Brands (G11), Jana Price (G11), Danielle Roe (G10) Kvemo Kartli Anastasia Skoybedo (G11), Chase Johnson (G11) Samstkhe-Javakheti Sam Harris (G10) Tbilisi Keti Chikovani (Language and Cross-Culture Coordinator, PC Staff) Workplace Culture Kimberly Tramel (G11), Shannon Knudsen (G11), Tami Timmer (G11), Connie Ross (G11) Compilers/Final Editors Jack Brands (G11) Caitlin Lowery (G11) Conor Hartnett (G11) Emily New (G10) Keti Chikovani (Language and Cross-Culture Coordinator, PC Staff) Compilers of Audio and Video Files Keti Chikovani (Language and Cross-Culture Coordinator, PC Staff) Irakli Elizbarashvili (IT Specialist, PC Staff) Revised and updated by Tea Sakvarelidze (Language and Cross-Culture Coordinator) and Kakha Gordadze (Training Manager).
    [Show full text]
  • BG Capital Equity and Bond Conference Agenda*
    BG Capital Equity and Bond Conference Agenda* Thursday, 4 September 2014 Time Topic Speaker 09:00 – 10:00 Registration 10:00 – 10:15 Welcome speech Irakli Gilauri, CEO Bank of Georgia 10:15 – 10:45 Macroeconomic outlook for Georgia Giorgi Kadagidze, Governor of the National Bank of Georgia 10:45 – 11:15 Macroeconomic outlook for Azerbaijan Deputy Governor, Central Bank of Azerbaijan 11:15 - 11:30 Coffee break Panel Chairman: Archil Gachechiladze, Deputy CEO Bank of Georgia Panel members: Panel discussion: “From Caspian to Black Sea”: Giorgi Kadagidze, Governor NBG 11:30 – 12:30 Development and Investment opportunities in the Caucasus Ministry of Finance of Georgia region Ministry of Finance of Azerbaijan PASHA Holding Giorgi Bachiashvili, CEO of Georgian Co- Investment Fund 12:30 – 14:00 Lunch 14:00 – 18:00 One-on-one meetings 1 Adjara Bet Potential equity issuer 2 Bank of Georgia Asset Management Investment funds 3 Georgian Co-Investment Fund Multi-billion Georgian equity investment fund 4 Georgian Industrial Group Potential local bond issuer 5 Georgian Leasing company (subsidiary of BoG) Potential local bond issuer 6 Georgian Oil and Gas Corporation Existing bond issuer with US$250 mn outstanding 7 Georgian Railway (GR) US$500 mn Eurobonds issued 8 International Bank of Azerbaijan (IBA) US$500 mn Eurobonds issued 9 Liberty Bank Listed on the Georgian Stock Exchange 10 M2 Real Estate (subsidiary of Bank of Georgia) US$15 mn local bonds issued 11 Ministry of Finance of Azerbaijan (sovereign bond issuer) US$1,200 mn international bonds issued 12 Ministry of Finance of Georgia (sovereign bond issuer) US$500 mn Eurobonds issued 13 Nikora Potential local bond issuer 14 PASHA Bank Potential bond and equity issuer 15 Rustavi Azot Potential equity issuer 16 Silknet Potential bond issuer 17 State Oil Company of Azerbaijan (SOCAR) US$1,500 mn Eurobonds issued 18 TBC Bank Listed on the London Stock Exchange (GDRs) 19 Teliani Valley Listed on the Georgian Stock Exchange 20:00- 23:00 Dinner Please see the company profiles below.
    [Show full text]
  • This Book Is a Compendium of New Wave Posters. It Is Organized Around the Designers (At Last!)
    “This book is a compendium of new wave posters. It is organized around the designers (at last!). It emphasizes the key contribution of Eastern Europe as well as Western Europe, and beyond. And it is a very timely volume, assembled with R|A|P’s usual flair, style and understanding.” –CHRISTOPHER FRAYLING, FROM THE INTRODUCTION 2 artbook.com French New Wave A Revolution in Design Edited by Tony Nourmand. Introduction by Christopher Frayling. The French New Wave of the 1950s and 1960s is one of the most important movements in the history of film. Its fresh energy and vision changed the cinematic landscape, and its style has had a seminal impact on pop culture. The poster artists tasked with selling these Nouvelle Vague films to the masses—in France and internationally—helped to create this style, and in so doing found themselves at the forefront of a revolution in art, graphic design and photography. French New Wave: A Revolution in Design celebrates explosive and groundbreaking poster art that accompanied French New Wave films like The 400 Blows (1959), Jules and Jim (1962) and The Umbrellas of Cherbourg (1964). Featuring posters from over 20 countries, the imagery is accompanied by biographies on more than 100 artists, photographers and designers involved—the first time many of those responsible for promoting and portraying this movement have been properly recognized. This publication spotlights the poster designers who worked alongside directors, cinematographers and actors to define the look of the French New Wave. Artists presented in this volume include Jean-Michel Folon, Boris Grinsson, Waldemar Świerzy, Christian Broutin, Tomasz Rumiński, Hans Hillman, Georges Allard, René Ferracci, Bruno Rehak, Zdeněk Ziegler, Miroslav Vystrcil, Peter Strausfeld, Maciej Hibner, Andrzej Krajewski, Maciej Zbikowski, Josef Vylet’al, Sandro Simeoni, Averardo Ciriello, Marcello Colizzi and many more.
    [Show full text]