The FINANCIAL -- On November 19, Bank Republic celebrates the opening of new branch in Dadiani Avenue 34, Tbilisi , Georgia. The Western-style, universal corporate and retail banking solutions and superior quality of service is already available for Nadzaladevi population. As the part of the networking plan, BR opens its new outlet in this large part of the capital.
Top management of the Bank Republic, new and existing customers and guests of honors will host the official reception to mark the opening of Dadiani branch on 2 PM, November 19. This celebration will be distinguishable by attendance of the members of the BR Supervisory Council from SG Paris, who support the activities of the Bank and, by paying visits to the Bank, express the constant support from the financial and banking giant Societe Generale.
The opening celebration will be accompanied by the special press conference, where the Chairman of Supervisory Council and other members of the Supervisory Council will officially declare about the changes within the Bank’s shareholders.
Gilbert Hie, BR CEO, will brief on position, vision, current and future trends of Bank Republic and banking sector thus underlining the particular opportunities of the BR clients. In addition, the members of the Supervisory Council from Paris will make the comments on the international financial and banking background and plans of Societe Generale.
A major strategic trend of Bank Republic is to provide the easy access to the banking services. Despite the financial crisis, BR intensively executes the network expansion plan. BR branches, equipped per the Western standards and tailor-made to the customers’ special needs, will secure the innovative, high quality retail and corporate banking solutions and the superior service to the customer.
Brief information about companies
Bank Republic is a leading commercial bank with rapid expansion of operations in Retail and Financial Services in Georgia. Employing more than 1000 staff, serving its clients through 46 branches and service centers.
Bank Republic owns 8.6% market share in deposits and 7.6% in loans. Bank Republic’s average return on equity is 3%. In 2007, its assets increased by 42%.
On 29th of September 2006 Bank Republic entered into agreement with Société Générale Group and EBRD on purchasing 60% and 10% of shares of BR respectively.
Société Générale Group
Société Générale is one of the largest financial services groups in the euro-zone. The Group employs 151,000 people worldwide in three key businesses:
• Retail Banking & Financial Services: Société Générale serves 27 million individual customers worldwide.
• Global Investment Management & Services: Société Générale is one of the largest banks in the euro-zone in terms of assets under custody (EUR 2,720 billion) and under management (EUR 435 billion, 2007).
• Corporate & Investment Banking: Société Générale ranks among the leading banks worldwide in euro capital markets, derivatives and structured finance.
Société Générale is included in the five major socially-responsible investment indexes.
Established in 1864, Société Générale is the 7th largest French company by market capitalization and one of the leading financial services group in euro zone. It employs over 151,000 people in 82 countries worldwide. Its business mix is structured around three core businesses: Retail Banking & Financial Services, Global Investment Management & Services and Corporate and Investment Banking. Société Générale Group has demonstrated remarkable growth and achieved transformation; the Group has doubled in size over the past 6 years while consistently delivering high profitability, operating efficiency and rigorous risk management.
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