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

Good recovery today, as Ukraine fears ebb the tensions with Russia have eased and the stock market recovered today.

Shares -Bank on Georgia
Sector leader primed for home market growth


A bull run in Bank of Georgia (BGEO) looks set to continue as the government ramps up infrastructure spend. This spend has the potential to create a multiplier effect as a portion of every Georgian lari spent by the state finds its way into the pockets of consumers who in turn spend a large part of what they earn.

The £910 million cap is plugged into the former Soviet Union state on many levels, owning 33.8% of its banking assets, holding a 32.5% share of all lending and 30.4% of deposits. This puts Bank of Georgia in a prime position to benefit from a significant uplift in the economy with the World Bank estimating 6.3% growth in each of the next two years, more than double 2013’s 2.5% gain, when output dipped amid political uncertainty.

BOG buys out minority shareholder of MFC

RNS


RNS Number : 4812F

Bank of Georgia Holdings PLC

25 April 2014




London, 25 April 2014



Bank of Georgia buys-out minority shareholder of My Family Clinic



Bank of Georgia Holdings PLC ("BGH"), the holding company of JSC Bank of Georgia ("the Bank") Georgia's leading bank, announces that JSC Insurance Company Aldagi ("Aldagi"), the Bank's insurance and healthcare subsidiary, has completed a buy-out of a 49% minority shareholder of its healthcare subsidiary My Family Clinic ("MFC"). Aldagi has held a 51% controlling interest in MFC since December 2011. Following the transaction, Aldagi's healthcare business consists of its wholly-owned subsidiary My Family Clinic (with 749 hospital beds in Georgia) and wholly-owned subsidiary Unimed (with 1,158 hospital beds in Georgia), both of which are leading healthcare providers in the country.



"I am pleased to announce this buy-out. The acquisition of the remaining stake in MFC will allow us to proceed with the integration of MFC and Unimed, extracting synergies and further strengthening Aldagi's position in the Georgian healthcare market. The buy-out of a 49% minority shareholder of MFC gives us flexibility in executing our growth strategy and an opportunity to expand our regional footprint through investments into development projects via MFC", commented Murtaz Kikoria, Aldagi CEO

Bank of Georgia Announces Q1 2014 Results

Business highlights

o Retail Banking continues to deliver strong franchise growth, supported by the successful roll-out of the Express Banking strategy, adding 1,423 Express Pay Terminals and 513,707 Express Cards since the launch of the Express Banking service. Retail Banking's net loan book grew 21.1% and client deposits 24.9% y-o-y.

o Corporate Banking's net loan book increased 7.8% to GEL 1,715.5 but decreased 5.7% q-o-q. Corporate Banking Cost of Deposits decreased markedly from 5.7% in Q1 2013 to 3.2% in Q1 2014.

o Investment Management's Assets under Management (AUM) increased by 14.5% y-o-y to GEL 702.7 million as of 31 March 2014. Since the launch of the Certificate of Deposit (CD) programme in January 2013, the amount of CDs issued to Investment Management clients reached GEL 239.0 million, as of 31 March 2014

o The Group's insurance and healthcare business, reported GEL 6.0 million Q1 2014 profit, up 14.6% y-o-y and expanded its healthcare business through acquisitions, adding 578 hospital beds to a total of 1,907

o Affordable Housing's second housing project is near completion and the construction of two new housing projects is underway. Net profit from the Bank's affordable housing business totalled GEL 4.2 million in Q1 2014, reflecting the partial recognition of revenue from its second project as it nears completion.





http://www.moneyam.com/action/news/showArticle?id=4807429

Bank of Georgia: Numis downgrades from buy to hold with a target price of 2708p.

Director Deals - Bank of Georgia Holdings PLC (BGEO)

BFN

Kim Bradley, Non Executive Director, bought 1,250 shares in the company on the 10th June 2014 at a price of 2459.00p. The Director now holds 1,250 shares representing 0.00% of the shares in issue.

Story provided by StockMarketWire.com
Director deals data provided by www.directorsholdings.com

Bank of Georgia: Peel Hunt increases target price from 2416p to 2600p and reiterates a hold recommendation.

Half Yearly Report

HIGHLIGHTS



Bank of Georgia Holdings PLC (LSE: BGEO LN), the holding company of Georgia's leading bank JSC Bank of Georgia (the "Bank") and its subsidiaries (the "Group"), announced today the Group's 1H 2014 and Q2 2014 consolidated results reporting a record half-year profit for 1H 2014 of GEL 112.0 million (US$63.3 million/GBP 37.2 million) and record earnings per share of GEL 3.15 (US$1.78 per share/GBP 1.05 per share). The Bank also reported Q2 2014 profit of GEL 58.3 million (US$33.0 million/GBP 19.4 million), or GEL 1.64 per share (US$0.93 per share/GBP 0.54 per share). Unless otherwise mentioned, comparisons are with the first half of 2013. The results are based on IFRS, are unaudited and derived from management accounts.



§ Strong profit momentum maintained

o Net Interest Margin (NIM) of 7.3%, compared to 7.8% in 1H 2013

§ Q2 2014 NIM of 7.3%, compared to 7.9% in Q2 2013 and 7.4% in Q1 2014

o Revenue increased by 7.3% y-o-y to GEL 281.5 million in 1H 2014

§ Q2 2014 revenue of GEL 144.2 million, up 3.2% y-o-y and 5.0% q-o-q.

o Cost to Income ratio stood at 43.8% in 1H 2014 compared to 41.7% in 1H 2013

§ Q2 2014 Cost to Income ratio stood at 44.6% compared to 39.9% in Q2 2013 and 43.0% in Q1 2014

o Profit for 1H 2014 increased to GEL 112.0 million, up 17.7% y-o-y

§ Profit increased to GEL 58.3 million in Q2 2014, up 9.8% y-o-y and up 8.7% q-o-q

o Earnings per share (EPS) increased by 16.7% to GEL 3.15 in 1H 2014 compared to GEL 2.70 in 1H 2013

§ Q2 2014 EPS stood at GEL 1.64, up 8.6% on both a y-o-y and q-o-q basis

o Return on Average Assets (ROAA), adjusted for impairment* stood at 3.5% in 1H 2014 largely flat on a year-on-year basis

§ ROAA, adjusted for impairment stood at 3.7% in Q2 2014, compared to 3.8% in Q2 2013 and 3.3% in Q1 2014

o Return on Average Equity (ROAE), adjusted for impairment stood at 18.7% in 1H 2014, compared to 17.6% in 1H 2013

§ ROAE, adjusted for impairment stood at 19.7% in Q2 2014 compared to 19.3% in Q2 2013 and 17.7% in Q1 2014

§ Balance sheet strength supported by solid capital and liquidity positions and declining Cost of Funding

o Net loan book increased by 17.2% y-o-y (up 4.9% q-o-q), while client deposits increased by 7.4% y-o-y (up 0.3% q-o-q)

o Cost of Client Deposits decreased to a record low of 4.4% in 1H 2014 from 6.2% in 1H 2013. Q2 2014 Cost of Client Deposits stood at 4.3% down from 5.9% in Q2 2013 and 4.6% in Q1 2014. Loan Yields also declined to 14.7% from 16.9% in 1H 2013. Quarterly loan yields stood at 14.5% in Q2 2014 compared to14.9% in Q1 2014 and 17.0% in Q2 2013

o Cost of credit risk improved significantly in 1H 2014 to GEL 27.2 million from GEL 36.3 million in 1H 2013. This represents an annualised Cost of Risk ratio of 1.0%.

o High liquidity maintained with 27.6% of total assets made up of cash and cash equivalents, amounts due from credit institutions, the NBG CDs, Georgian government treasury bills and bonds and other high quality liquid assets as of 30 June2014. Liquidity ratio, as per National Bank of Georgia (NBG) requirements, stood at 38.1% against the regulatory minimum of 30%

o As of 30 June 2014, Net Loans to Customer Funds and DFI ratio stood at a healthy level of 100.3% compared to 96.2% as of 31 December 2013 and 96.4% as of 31 March 2014. The Net Loans to Customer Funds ratio stood at 119.0% compared to 113.0% as of 31 December 2013and 113.8% as of 31 March 2014

o BIS Tier I capital adequacy ratio stood at 22.5% compared to 22.9% a year ago.

o NBG (Basel 2/3) Tier I capital adequacy ratio stood at 10.8% as at 30 June 2014 compared to 13.1% as at 31 December 2014 (see Annex I on page 44 for more information)

o Book value per share increased by 13.1% y-o-y to GEL 34.95 (US$19.76/GBP 11.61)

o Balance Sheet leverage remained largely flat y-o-y at 4.3 times





*Adjusted for one-off impairment of BG Bank in Ukraine

§ Business highlights

o Retail Banking continues to deliver strong franchise growth, supported by the Express Banking strategy, adding 2,038 Express Pay Terminals and 613,159 Express Cards since the launch of the Express Banking service. Retail Banking's net loan book grew 21.4% y-o-y and stood at GEL 1,754.2 million, while client deposits increased by 22.5% y-o-y to GEL 1,134.2 million

o Corporate Banking's net loan book growth rate picked up in Q2 2014, increasing by 8.1% y-o-y to GEL 1,802.8 as of 30 June 2014. Corporate Banking Cost of Deposits decreased markedly from 5.5% in 1H 2013 to a record low 3.0% in 1H 2014

o Investment Management's Assets under Management (AUM*) increased by 15.9% y-o-y to GEL 901.0 million as of 30 June 2014. Since the launch of the Certificate of Deposit (CD) programme in January 2013, the volume of CDs issued reached GEL 314.0 million, as of 30 June 2014

o The Group's insurance and healthcare business reported GEL 11.1 million profit (GEL 11.4 million in 1H 2013). The Group's healthcare business reported a GEL 6.2 million 1H 2014 profit (GEL 2.5 million in 1H 2013) and expanded its healthcare business through acquisitions to 36 healthcare facilities and 1,892 hospital beds. The market share of the Group's healthcare business grew from 14.3% as of 31 December 2013 to 19.9% as of 30 June 2014 in terms of hospital beds, while the health insurance business of the Group accounted for 37.6% of the total health insurance sector of Georgia based on gross premiums written as of 31 March 2014, compared to 31.1% as of 31 December 2013

o Affordable Housing completed its second housing project and the construction of two new housing projects is underway. Net profit from the Bank's Affordable Housing business totalled GEL 6.2 million in 1H 2014, reflecting the recognition of major part of the revenue from the completed second project





http://www.moneyam.com/action/news/showArticle?id=4872870

Shares - higher growth is anticipated on the back of 6% GDP growth in the former Soviet state this year. One catalyst could be the proposed initial public offering of its healthcare business next year.

BOG's healthcare subsidiary acquires new hospital
RNS
RNS Number : 4709T
Bank of Georgia Holdings PLC
06 October 2014







London, 6 October 2014



Bank of Georgia's healthcare subsidiary acquires a new hospital



Bank of Georgia Holdings PLC ("BGH"), the holding company of JSC Bank of Georgia ("the Bank"), Georgia's leading bank, announces that JSC Evex Medical Corporation ("Evex"), the Bank's healthcare subsidiary, has acquired 100% equity interest in a 60-bed hospital in Tbilisi providing a wide-range of in-patient and out-patient services with particular expertise in traumatology.



The acquisition of this new hospital is in line with the Bank's previously announced strategy to scale up its healthcare business through targeted hospital acquisitions focusing on Tbilisi. Following the acquisition, the Bank's healthcare subsidiary has 38 healthcare facilities and 2,140 beds in Georgia.



"I am very pleased to announce one more important acquisition, which further strengthens our healthcare franchise in the capital city. I would like to congratulate our healthcare team on the completion of the transaction, which increases our national market share by hospital beds to 22.5% from 14.3% at the beginning of the year," commented Irakli Gilauri, Chief Executive Officer of Bank of Georgia.



"The addition of another leading hospital complements our current portfolio of healthcare facilities in Tbilisi, enabling us to tap a new segment of patientsand offering significant opportunities for cost synergies that our experienced team will work to deliver over the next few months," commented Murtaz Kikoria, Chairman of the board of directors, Evex.

Bank of Georgia: Numis upgrades from hold to buy with a target price of 2708p

3rd Quarter Results

Business highlights

o Retail Banking continues to deliver strong franchise growth, supported by the Express Banking strategy, adding 2,217 Express Pay Terminals and 670,553 Express Cards since the launch of the Express Banking service. Retail Banking's net loan book grew 21.9% y-o-y and stood at GEL 1,858.7 million, while client deposits increased by 23.0% y-o-y to GEL 1,193.8 million

o Corporate Banking's net loan book growth rate picked up in Q3 2014, increasing by 11.7% y-o-y to GEL 1,870.1 as of 30 September 2014. Corporate Banking Cost of Deposits decreased markedly from 5.0% in 9M 2013 to a record low 2.9% in 9M 2014. Pressure on Corporate Banking NIM continued

o Investment Management's Assets under Management (AUM*) increased by 20.4% y-o-y to GEL 932.7 million as of 30 September 2014. Since the launch of the Certificate of Deposit (CD) programme in January 2013, the volume of CDs issued reached GEL 376.2 million, as of 30 September 2014. Net fee and commission for Investment Management increased to GEL 8.5 million in 9M 2014 from GEL 1.0 million in 9M 2013

o The Group's healthcare business, which includes healthcare services and health insurance, reported a GEL 13.2 million 9M 2014 profit (GEL 11.3 million in 9M 2013). Profit from healthcare services increased to GEL 10.6 million from GEL 4.2 million in 9M 2013, while health insurance profit decreased from GEL 7.1 million in 9M 2013 to GEL 2.7 million in 9M 2014. The Group's healthcare business operates 38 healthcare facilities and 2,140 hospital beds as of 30 September 2014. The market share of the Group's healthcare business grew from 14.3% as of 31 December 2013 to 22.5% as of 30 September 2014 in terms of hospital beds, while the health insurance business of the Group accounted for 37.0% of the total health insurance sector of Georgia based on gross premiums written as of 30 June 2014, compared to 28.9% as of 31 December 2013

o Affordable Housing completed its second housing project and the construction of four new housing projects is underway. 26% of apartments have already been sold in the newest project launched in September 2014. 39% of apartments were sold in the project launched in July 2014. 81% and 59% respectively were sold in two projects launched in December 2013. Net profit from the Bank's Affordable Housing business totalled GEL 6.8 million in 9M 2014, reflecting the recognition of major part of the revenue from the completed second project






http://www.moneyam.com/action/news/showArticle?id=4918155

08 Dec Bank of Georgia... Numis Upgrades 2,745.00 buy

09/12/2014 BUY Alasdair Breach NED 2,121
09/12/2014 BUY Neil Janin CH 10,000

18 Dec Panmure Gordon 3,000.00 Buy

Signal Update

Our system’s recommendation today is to STAY LONG. The previous BUY signal was issued on 17/12/2014, 5 days ago, when the stock price was 1,878.5000. Since then BGEO.L has risen by +10.03%.

Market Outlook

The bulls are strong. The negative sentiment that led to the last bearish pattern has evaporated. Besides, the signal is suggesting to STAY LONG. It is best to follow the signal and continue to hold this security, but with a more cautious attitude.



https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=BGEO.L

A sell in IC - A sliding oil price and Western economic sanctions are starting to cause economic havoc in Russia. When Russia feels the heat, the shares in Bank of Georgia often become very volatile.

perhaps an interesting subject for shorting

Panmure Gordon thinks not.


5 Jan Panmure Gordon 3,000.00 Buy

Final Results

Strong 4th quarter 2014 performance

o Q4 2014 Net Interest Margin (NIM) of 7.6%, compared to 7.4% in Q3 2014 and 8.0% in Q4 2013

o Q4 2014 revenue of GEL 168.7 million, up 17.5% y-o-y and 8.6% q-o-q

o Q4 2014 Cost of Client Deposits stood at 4.2% down from 4.8% in Q4 2013, flat q-o-q

o Q4 2014 Loan Yields stood at 14.1% in Q4 2014, down from 14.3% in Q3 2014 and down from 15.8% in Q4 2013

o Q4 2014 Cost to Income ratio stood at 41.3% compared to 41.9% in Q4 2013 and 42.5% in Q3 2014

o Positive q-o-q and y-o-y operating leverage at 2.9 percentage points (ppts) and 1.6 ppts, respectively, in Q4 2014

o Profit increased to GEL 66.5 million in Q4 2014, up 19.5% y-o-y and up 6.7% q-o-q

o Q4 2014 Earnings Per Share (EPS) increased 18.4% y-o-y and 7.5% q-o-q to GEL 1.87

o Net loan book increased 13.9% q-o-q; client deposits increased 8.3% q-o-q

o Return on Average Assets (ROAA), of 3.7% in Q4 2014 (Q3 2014: 3.7%; Q4 2013:3.6%)

o Return on Average Equity (ROAE)1, of 19.5% in Q4 2014 (Q3 2014: 19.2%; Q4 2013: 18.6%)

[1] Adjusted for results of placing of ordinary shares on 4 December 2014



§ Excellent customer lending growth supports record annual profits

o Net Interest Margin (NIM) of 7.4%, compared to 7.8% in 2013

o Revenue increased 11.3% y-o-y to GEL 605.6 million in 2014

o Cost to Income ratio stood at 42.8% in 2014 compared to 41.2% in 2013

o Profit for 2014 increased to GEL 240.8 million, up 15.0% y-o-y

o EPS1,2increased 15.5% to GEL 6.85 in 2014 compared to GEL 5.93 in 2013

o ROAA of 3.6% in 2014, flat y-o-y

o ROAE1,2of 19.0% in 2014, up from 18.6% in 2013



§ Balance sheet strength supported by solid capital and liquidity positions and declining Cost of Funding

o Net loan book increased 23.8% y-o-y, while client deposits increased 6.6% y-o-y

o Cost of Client Deposits decreased to a record low of 4.3% in 2014 from 5.6% in 2013. Loan Yields also declined to 14.4% from 16.3% in 2013

o Cost of credit risk reduced in 2014 to GEL 59.0 million from GEL 61.8million in 2013. This translated into a Cost of Risk ratio of 1.2% in 2014 compared to 1.4% in 2013

o NPLs to Gross Loans to Clients ratio as a result declined from 4.0% as of 31 December 2013 to 3.4% as of 31 December 2014. High liquidity continues to be maintained. Liquidity ratio, per National Bank of Georgia (NBG) requirements, stood at 35.0%, compared to the regulatory minimum requirement of 30.0%. 25.0% of total assets made up of cash and cash equivalents, amounts due from credit institutions, the NBG CDs, Georgian government treasury bills and bonds and other high quality liquid assets as of 31 December 2014

o As of 31 December 2014, Net Loans to Customer Funds and DFI ratio stood at 110.6% (30 September 2014: 103.9%; 31 December2013: 96.2%)

o BIS Tier I capital adequacy ratio stood at 22.1% (2013: 23.0%)

o NBG (Basel 2/3)1Tier I Capital Adequacy ratio stood at 11.1% as of 31 December 2014, (30 September 2014: 11.2%)

o Book value per share increased 18.9% y-o-y to GEL 41.45 (US$22.24/GBP 14.33)

o Balance sheet leverage stood at 3.7 times as of 31 December 2014 (31 December 2013: 4.3 times)



§ Resilient growth momentum maintained across all major business lines:

o Retail Banking continues to deliver strong franchise growth, supported by the Express Banking strategy, adding 2,239 Express Pay Terminals and 721,909 Express Cards since the launch of the Express Banking service in 2012. Retail Banking's net loan book grew 28.1% y-o-y and stood at GEL 2,067.0 million, while client deposits increased 24.2% y-o-y to GEL 1,349.6 million

o The Bank's acquisition of JSC Privatbank has enhanced its position in the significantly more profitable retail franchise. The acquisition was finalised in January 2015 and increased the Bank's market share in retail loans by 4.9% and in retail deposits by 2.6% (market shares as of 31 December 2014)

o Corporate Banking's net loan book growth rate picked up in the second half of the year, with the net loan book increasing by 18.8% y-o-y to GEL 2,160.8 million as of 31 December 2014. Corporate Banking Cost of Deposits decreased significantly from 4.6% in 2013 to a record low 2.9% in 2014. Pressure on Corporate Banking NIM continued, driving it down by 50 bps y-o-y to 4.5%

o Investment Management's Assets Under Management (AUM) increased 21.4% y-o-yto GEL 1,027.1 million. Since the launch of the Certificate of Deposit (CD) programme in January 2013, the volume of CDs issued reached GEL 460.6 million, as of 31 December 2014. Net fee and commission income for Investment Management increased substantially to GEL 8.8 million in 2014 up from GEL 1.2 million in 2013



o The Group's healthcare business grew its market share from 14.3% as of 31 December 2013 to 22.0% as of 31 December 2014 in terms of hospital beds. The Group's healthcare services business, which operates 39 healthcare facilities and 2,140 hospital beds, reported profit that more than tripled y-o-y, increasing to GEL 14.0 million in 2014 (2013: GEL 4.4 million)

o m2 Real Estate enjoys strong demand, selling 576 apartments in 2014, which brings total apartments sold since 2010 to 1,328






http://www.moneyam.com/action/news/showArticle?id=4980827