The FINANCIAL -- As of October 1, 2009, the banking sector in Georgia is represented by 19 commercial banks, including 13 foreign-controlled banks and 2 branches of non-resident banks.

The FINANCIAL -- Total volume of deposits in the country’s banking sector (including term deposits and current accounts of non-financial and households sectors, including payable interest) exceeded 3.0 billion GEL by October 1, 2009, which is 4.1 percent more than the comparable figure for September 1, 2009.

The FINANCIAL -- Georgian financial services providers TBC Bank and BTA Bank have signed agreements with Swedish supplier of smartcard-based authentication products Todos.

The FINANCIAL -- Lado Gurgenidze, former Georgian prime minister, plans to buy several banks in emerging markets through his new company, Liberty Investments, before eventually taking it public, BusinessNewEurope reports.

The FINANCIAL -- JSC Bank of Georgia Georgia`s one of the leading banks has selected TEMENOS (SIX: TEMN) T24 (T24) as its new core banking software. The system includes built-in CRM, retail and corporate banking, cash management, treasury, trade finance, risk (Basel II standard), MIS and intermediary banking for international wealth management business.

The FINANCIAL -- Georgian banks have started launching mortgage loans with renovated terms as they identify this type of product to be in demand on the market. HSBC Bank Georgia is planning to re-launch its mortgage product within the next three months.

The FINANCIAL -- Bank of Georgia has changed its strategy in Belorussia and Ukraine . On the Belorussian market the Bank will focus on financing small and middle-sized businesses. In Ukraine , the niche the Bank will be financing is those customers involved in trading between the two countries. 

The FINANCIAL -- In September 2009 the volume of money transfers from abroad constituted 80.4 million USD, which is 5.4 million USD or 7.2 percent more than the same amount for the previous month.