http://bankofgeorgia.ge/en/ir/shareholder-information/analyst-corporate-advis

Bank of Georgia is Georgia’s is the leading bank in Georgia, with more than a third of the market share in Georgia based on total assets, total loans, total deposits and total shareholders’ equity. The bank offers a broad range retail banking, corporate banking, wealth management, brokerage and insurance services to its clients. As of 31 March 2012, the Bank served approximately one million client accounts through one of the largest distribution networks in Georgia, with 164 branches, including full-service flagship branches service centres and smaller-scale outlets, the country’s largest ATM network, comprising 431 ATMs, 104 self service terminals and a full-service remote banking platform and a modern call center.

Selected key elements of the Bank of Georgia’s strategy are to maintain its leading position in the growing and still under-penetrated Georgian banking market, focus on profitable growth, increase the Bank's loan portfolio while maintaining asset quality, and to capture growth and synergies in the Georgian insurance, healthcare and affordable housing sectors.

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). 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.

JSC 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) since February 2012

A late tip this one, on the sp



MIDAS: Profits boom as bank taps former Soviet state Georgia's growth

By Joanne Hart, Financial Mail On Sunday

PUBLISHED: 22:04, 25 May 2013 | UPDATED: 22:04, 25 May 2013


More than 20 years have passed since Georgia gained independence from the Soviet Union, but the country is still relatively unknown in the West.


However, its largest bank is listed in London and is a member of the FTSE 250. Bank of Georgia is fast-growing and well run, and the shares, at 1770p, are worth looking at. The country had a rough ride in the early years following independence. The Russians did not take kindly to its new status and there were endless battles over energy supplies and disputed territories.


Persistent conflict held back growth, particularly in the 1990s, but since a short war in 2008, relations with Russia have thawed, the country has benefited from increased foreign investment and industries have begun to develop.



New era: Investment is up in proudly independent Georgia


Between 2004 and last year, the economy grew 13 per cent a year on average. Further strong growth is expected over the next decade and Bank of Georgia is ideally placed to profit from this trend.


The company is run by Irakli Gilauri, a native Georgian with a masters in banking from the Cass Business School in London. He prides himself on running an old-fashioned, simple business focused on two main areas – taking deposits and lending money.


The bank has more than a million customers in Georgia, equivalent to just under a third of the total market, and 7,600 business customers, giving a market share of almost 40 per cent. This dominant position has not only enabled it to increase profits consistently over the past few years, but it also means there is significant growth potential.

Unlike the British, the Georgians are not used to borrowing. The mortgage market is undeveloped, few people use credit cards and the consumer loan sector is small. The situation is changing, however, as the country and its people become wealthier.


Gilauri intends to tap into this trend, lending more while ensuring that loans are given only to customers with sound credit histories. The bank also plans to expand into insurance, another burgeoning market.


Companies from the former Soviet Union have not had an unblemished record on the London market. Beleaguered miner Eurasian Natural Resources Corporation from Kazakhstan is a case in point.


Bank of Georgia is different. Only five per cent of the shares are in the hands of the management, the group is chaired by Canadian Neil Janin, a former senior director at top consultancy firm McKinsey, and the company has a premium listing in London, which means that it has to meet higher than usual corporate governance standards.


The group reports results in Georgian lari, but it pays dividends in sterling. Last year, profits grew by 60 per cent to 213 million lari (£86 million) and the dividend was 1.5 lari (61p).


In 2013, profits are expected to grow to 236 million lari and the dividend is forecast to rise to 1.95 lari. Further strong growth is anticipated for 2014 and beyond.


Midas verdict: Bank of Georgia shares are not cheap at 1770p, but the price should rise as the country develops and its banking market expands. The group also offers investors the excitement of an emerging market stock and the safety of a premium listing. Buy.

Dreamcatcher

Brilliant factual analysis of BGEO. I invested here in Jan but eventualy sold to get into Coms which has done even better. However this is a top steady growth share to have as part of a balanced PF and I will certainly buy back in on any weakness.

Through £18 now, although a fair amount of profit taking.

Bank of Georgia Holdings PLC (BGEO:LSE) set a new 52-week high during today's trading session when it reached 1,833. Over this period, the share price is up 78.36%.

Closing in on £19. :-))

Bank of Georgia Holdings PLC (BGEO:LSE) set a new 52-week high during today's trading session when it reached 1,901. Over this period, the share price is up 80.29%.

Bank of Georgia receives financing for housing project
Fri 31 May 2013


Bank of Georgia receives financing for housing project LONDON (SHARECAST) - FTSE 250-listed Bank of Georgia has received a 14m dollar loan for its subsidiary m2Real Estate to develop green housing projects in Georgia.

IFC, a member of the World Bank Group, will provide the funds, including $4m from the IFC-Canada Climate Change Program.

The bank said financing is expected to meet the working capital requirements of the company and contribute to expansion of urban infrastructure in Georgia by building high-quality affordable housing in the form of "green, resource efficient, multi-resident apartment buildings".

"We are very pleased that m2 Real Estate is the first Georgian real estate company to cooperate with IFC to develop a housing project in Tbilisi," said Deputy Chief Executive Officer of Bank of Georgia, Irakli Burdiladze.

"Having successfully worked together with the Development Finance Institutions to finance our existing projects, m2 Real Estate is committed to provide its customers in Georgia with affordable, quality and modern housing. The $14m funding will help m2 Real Estate to realise three new projects in the heart of Tbilisi.”

The plan is to design a building to increase efficient use of energy, water, and materials, while reducing negative impact on health and environment.

Shares fell 0.21% to 1,864p at 09:29 Friday.

Bank of Georgia further cuts deposit rates

RNS


RNS Number : 1923G

Bank of Georgia Holdings PLC

04 June 2013


London, 4 June 2013

Bank of Georgia further cuts deposit rates


Bank of Georgia Holdings PLC ("BGH"), the holding company of JSC Bank of Georgia ("the Bank"), Georgia's leading bank announces that the Bank has decreased interest rates on its foreign currency (predominantly US$ denominated) and Georgian Lari (GEL) retail, corporate and wealth management term deposits, in line with the bank's strategy and general trend across the Georgian economy. Interest rates have been reduced by up to 150 bps on one year US$ denominated deposits. Since the year-end 2012, the interest rates on US$ denominated deposits have been reduced by 300 bps. The contractual rate on foreign currency 12 month deposit were brought down to 5.0%, the lowest ever rate offered by a Georgian bank. Interest rates on the deposits with different maturities have been adjusted accordingly.



"We are delighted that the strength of our franchise and strong liquidity levels enable us to make further reductions on client deposits on the back of continuous deposit inflows since the year-end. As a result of active liability management we have reached a record low cost of deposits in Q1 2013 and the subsequent interest rate cuts are expected to further improve our cost of funds.

The interest rate cuts also reflect our efforts to support the de-dollarisation of our balance sheet. The reduced rates on the US$ denominated deposits make GEL denominated deposits more attractive for our customers. At the same time, we expect de-dollarisation of the asset side of the balance sheet as we seek to capitalise on the recently introduced GEL lending programme by the National Bank of Georgia (the NBG), which involves a repo transaction with the NBG ultimately providing our clients with floating rate loans denominated in the national currency linked to the NBG's refinancing rate," commented Irakli Gilauri, Chief Executive Officer.

Bank of Georgia signs financing package with EBRD
Wed 05 Jun 2013

BGEO - Bank of Georgia Holdings

Bank of Georgia signs financing package with EBRD LONDON (SHARECAST) - FTSE 250-listed Bank of Georgia has signed a loan agreement with the European Bank for Reconstruction and Development (EBRD) for 10.0m dollars under the EBRD's Caucasus Energy Efficiency Programme (CEEP).

The loan has a maturity of five years and Bank of Georgia, the holding company of JSC Bank of Georgia, said it would be used for on-lending to private sector entities with a view to finance energy efficiency and rational energy utilization investments.

The bank said that technical cooperation and grant support for the operation had been provided by the Austrian Government and the European Union through the Neighbourhood Investment Facility and would fund technical assistance and incentives to end-borrowers.

EBRD would also facilitate the launch of International Factoring, by providing a €10.0m facility under its Trade Facilitation Programme (TFP) to the bank.

Irakli Gilauri, Chief Executive Officer of Bank of Georgia, said: "As the first Georgian bank to introduce factoring product to the Georgian market in 2007, I am very pleased that the launch of International Factoring within the EBRD's TFP will allow Bank of Georgia to expand the range of the products offered to its corporate clients and will contribute to the expansion of international trade operations of the bank".

Bruno Balvanera, EBRD Director for Caucasus, Moldova and Belarus, commented: "EBRD is delighted to work with its long-standing partner bank to continue to finance the real economy, particularly, the energy efficiency lending."

Bank of Georgia’s share price was down 1.72% to 1,827p at 11:29 on Wednesday.

Dividend Declaration

RNS


RNS Number : 6626G

Bank of Georgia Holdings PLC

10 June 2013


London, 10 June 2013

Dividend Announcement


On 23 May 2013, the shareholders of Bank of Georgia Holdings PLC (the Company) (LSE: BGEO LN), the holding company of JSC Bank of Georgia (the Bank), Georgia's leading bank, approved the declaration of a final dividend of Georgian Lari 1.50 per share, payable to ordinary shareholders of the Company in British Pounds Sterling pursuant to the following timetable:



Ex-Dividend Date: 5 June 2013

Record Date: 7 June 2013

Currency Conversion Date: 10 June 2013

Payment Date: 19 June 2013



The Company hereby confirms that the National Bank of Georgia Georgian Lari/British Pounds Sterling exchange rate as of 10 June 2013 is 2.6051 and shall be used to pay dividends to ordinary shareholders of the Company on 19 June 2013.



Those shareholders who have not provided their appropriate bank account details to Computershare Investor Services PLC for payment of the dividend will be paid the dividend by cheque in British Pounds Sterling.





Name of authorised official of issuer responsible for making notification:



Kate Bennett Rea, Company Secretary

"Ex-Dividend Date: 5 June 2013".. Wrong date alert surely DC -):

Below is from the company site Stan, sorry late coming back.


Dividend Announcement
On 23 May 2013, the shareholders of Bank of Georgia Holdings PLC (the Company) (LSE: BGEO
LN), the holding company of JSC Bank of Georgia (the Bank), Georgia's leading bank, approved the
declaration of a final dividend of Georgian Lari 1.50 per share, payable to ordinary shareholders of the
Company in British Pounds Sterling pursuant to the following timetable:
Ex-Dividend Date: 5 June 2013
Record Date: 7 June 2013
Currency Conversion Date: 10 June 2013
Payment Date: 19 June 2013
The Company hereby confirms that the National Bank of Georgia Georgian Lari/British Pounds
Sterling exchange rate as of 10 June 2013 is 2.6051 and shall be used to pay dividends to ordinary
shareholders of the Company on 19 June 2013.
Those shareholders who have not provided their appropriate bank account details to Computershare
Investor Services PLC for payment of the dividend will be paid the dividend by cheque in British
Pounds Sterling.
Name of authorised official of issuer responsible for making notification:
Kate Bennett Rea, Company Secretary

Consensus recommendation

As of Jul 05, 2013, the consensus forecast amongst 10 polled investment analysts covering Bank of Georgia Holdings PLC advises that the company will outperform the market. This has been the consensus forecast since the sentiment of investment analysts deteriorated on May 13, 2013. The previous consensus forecast advised investors to purchase equity in Bank of Georgia Holdings PLC.
.


Climbing hard over the last week.

BGH Announces Appointment of CRO

RNS Number : 8472J

Bank of Georgia Holdings PLC

22 July 2013

London, 22 July 2013

Bank of Georgia Announces Appointment of Chief Risk Officer



Bank of Georgia Holdings PLC ("BGH"), the holding company of JSC Bank of Georgia ("the Bank"), Georgia's leading bank announces that George Chiladze has been appointed as the Chief Risk Officer (CRO) of the Bank, effective 1st September 2013. The position has been vacant since May 2013 following executive management reshuffle, which saw Sulkhan Gvalia, CRO at the time, taking the position of Deputy CEO for Corporate Banking. George has served as Deputy CEO for Finance at Bank of Georgia from 2008 to 2011.



"I am excited to welcome George back to our team. Having served at Bank of Georgia as Deputy CEO, Finance for more than three years, George has a thorough knowledge and understanding of the Bank, which will ensure continuity and smooth transition. We are very fortunate that George has rejoined us and I look forward to the contributions he will make in his new role" commented Irakli Gilauri, Chief Executive Officer.



After leaving Bank of Georgia in 2011, George joined Partnership Fund* in the capacity of Deputy CEO. Prior to joining Bank of Georgia in 2008, George served as General Director of JSC BTA Bank (2005-2008). Prior to returning to Georgia in 2003, George worked a Program Trading Desk at Bear Stearns in New York. He has received Ph.D. in physics from John Hopkins University in Baltimore, Maryland and an undergraduate degree from Tbilisi State University.

Notice of Results
RNS
RNS Number : 4889L
Bank of Georgia Holdings PLC
12 August 2013

London, 12 August 2013



Bank of Georgia Holdings PLC notice for 1H 2013 Results



Bank of Georgia Holdings PLC will publish its financial results for 1H 2013 at 07:00 London time on Wednesday, 14th August 2013. The results announcement will be available on Bank of Georgia Holdings's website at www.bgh.co.uk. An investor/analyst conference call, organised by Bank of Georgia Holdings, will be held on Wednesday, 14th August 2013, at 14:00 UK / 15:00 CET / 09:00 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

Half Yearly Report

Record Q2 2013 profit drives robust first half performance



· Positive operating leverage maintained with strong profitability

o Net Interest Margin (NIM) of 7.7%, compared to 8.2% in 1H 2012

§ Q2 2013 NIM of 7.9%, compared to 7.6% in Q1 2013

o Revenue increased by GEL 23.7 million, or 9.9% y-o-y, to GEL 262.7 million; Revenue adjusted for one-off foreign currency gain* increased by 11.3% to GEL 262.7 million

§ Q2 2013 revenue grew 13.6% q-o-q to GEL 139.7 million

o Positive operating leverage maintained at 9.4% in 1H 2013, as operating expenses stayed largely flat at GEL 109.6 million

§ Q2 2013 y-o-y operating leverage of 13.3%

o Cost to Income ratio improved to 41.7% compared to 45.6% in 1H 2012

§ Q2 2013 Cost to Income ratio reached a record low of 39.9% compared to 43.8% in Q1 2013 and 45.5% Q2 2012

o Profit for the period increased by GEL 9.1 million, or 10.5% y-o-y, to GEL 95.1 million

o Earnings per share (basic) increased by 5.1% to a record GEL 2.70, compared to GEL 2.57 in 1H 2012

o Return on Average Assets (ROAA) stood at 3.4%, compared to 3.7%

§ Q2 2013 ROAA stood at 3.8%, compared to 3.1% in Q1 2013

o Return on Average Equity (ROAE) stood at 17.6%, from 19.6%

§ Q2 2013 ROAE stood at 19.3%, compared to 15.9% in Q1 2013

· Strong balance sheet supported by solid capital position and declining cost of funds

o Net loan book increased by 6.8% y-o-y, while client deposits increased by 3.5% y-o-y

o Cost of client deposits decreased from 7.7% in 1H 2012 to 6.2% in 1H 2013; Q2 2013 cost of client deposits stood at 5.9%

o Q2 2013 loan book grew 5.7% q-o-q, while client deposits increased 1.1% q-o-q

§ Retail Banking net loans grew 5.3% q-o-q, while client deposits increased 7.0% q-o-q

§ Corporate Banking net loans grew 4.8% q-o-q, while client deposits decreased 3.1% q-o-q, reflecting targeted outflow of high-interest paying deposits

o Cost of risk in Q2 2013 remained largely flat at 1.5% compared to 1.4% in Q1 2013. 1H 2013 cost of risk of 1.5% compares to 0.9% in 1H 2012. The year-on-year increase was attributed to both Retail Banking and Corporate Banking loan portfolios

o High liquidity maintained with 26.8% assets made up of cash and cash equivalents, NBG CDs, Georgian government treasury bills and bonds and other high quality liquid assets as of 30 June 2013. The National Bank of Georgia (NBG) liquidity ratio of 44.8% compared to 35.2% a year ago and to 30% minimum requirement by the regulator

o Excellent funding position with a Net Loans to Customer Funds ratio of 109.6%, down from 114.8% YE 2012 and up from 102.7% in 1H 2012. As of 30 June 2013, Net Loans to Customer Funds and Long-Term DFI Funding ratio was 90.0%

o BIS Tier 1 capital adequacy ratio improved to 22.9%

o Book value per share increased by 12.9% y-o-y to GEL 30.9 (US$18.72/GBP 12.28)

o Balance Sheet leverage at 4.1 times as of 30 June 2013, compared to 4.2 times



*One-off foreign currency gain by BNB in Q1 2012, the Bank's subsidiary in Belarus



· Business highlights

o Retail Banking continues to deliver strong franchise growth, supported by the successful roll-out of the Express Banking strategy in 2012, adding 649 new Express Pay terminals and 115,000 Express cards in 1H 2013. Retail Banking loan book grew 14.6% y-o-y.

o Corporate Banking loan book increased by 4.8% q-o-q in Q2 2013 after a slow-down in Q1 2013. Cost efficiency of Corporate Banking improved markedly as Cost to Income declined from 32.1% in 1H 2012 to 25.9% in 1H 2013

o Investment Management (formerly Asset and Wealth Management) continued to expand its franchise with Assets under Management (AUM) increasing by 18.0% to GEL 624.2 million in 1H 2013. Since the launch of the Certificate of Deposit (CD) programme in January 2013, the amount of CDs issued to Investment Management clients reached GEL 103.2 million, as of 30 June 2013

o Aldagi, the Group's Insurance and Healthcare business, reported a 1H 2013 profit of GEL 11.4 million, up from GEL 6.5 million in 1H 2012

o Affordable Housing pre-sold 68% of the apartments of its second housing project, currently in the construction process. In 1H 2013, Affordable Housing segment posted its first half year profit of GEL 4.4 million




http://www.moneyam.com/action/news/showArticle?id=4650269

Bank of Georgia: Canaccord Genuity downgrades to hold with an unchanged target price of 1610p.

:-))

In Shares - An expected rise in sales volumes and falling bad debts are driving upgrades at Bank of Georgia, with healthcare and insurance subsidiary Aldagi a particularly strong performer.

Bank of Georgia Holdings PLC (BGEO:LSE) set a new 52-week high during today's trading session when it reached 2,593. Over this period, the share price is up 125.02%.