The FINANCIAL — Bank Republic has assigned an additional GEL 200,000 for refugees who incurred losses from the Georgian Russian conflict. 80 families were involved in this charity project. The total amount of money allocated for the refugees by Bank Republic is GEL 800,000.
“Last year, during August’s events, Bank Republic handed out GEL 50,000 to assist the refugees who were victims of the Georgian Russian conflict,” Gilbert Hie, Chief Executive Officer of the JSC Bank Republic/Societe Generale Group, says.
“Nearly GEL 1,000,000 is allocated by our charity fund annually for different kinds of Social Responsibility programmes,” Lasha Papashvili Chairman of the Supervisory Council of Bank Republic, told The FINANCIAL.
Officials of Bank Republic report that the charitable foundation Tsiskari is conducting monitoring of the appropriation of the allocated funds. From the Tsiskari Fund GEL 100,000 had been transferred from the account of the Georgian Patriarchate, from which GEL 25,000 was transferred to the Tskhinvali-Niqozi eparchy account, and GEL 75,000 to the Gori-Samtavisi eparchy account to support the victims of the Georgian Russian conflict.
“Due to these hard times, employees of SG HQ, under their own initiative, collected 400 kg of clothes and sent them to Georgia in support of the refugees,” Lasha Papashvili says.
“BR staff collected clothes and food for vulnerable people suffering from the effects of the war. This is the practice applied by BR and the whole SG Group.6 month after the August Events, we have taken new initiative to help the refugees,” Gilbert Hie declares.
Mr. Hie strongly believes that attention to corporate responsibility is essential for creating and sustaining added value for shareholders.
“During 2008 we made significant progress in pursuit of the objective that Bank Republic should be a leading company in this field. Corporate responsibility concerns business behaviour and earns the trust and loyalty of our stakeholders.”
According to Bank Republic, the course of the development of the bank has gone beyond pure economic and financial interests. It follows a long-term social responsibility concept and encourages companies to move to the next stage of social and business relationships. To this end the Bank makes a point of financing social and environmental projects.
“Corporate social responsibility is very important for our company. Bank Republic donates money to different social responsibility spheres; education, healthcare, art, religion. We have even sponsored Marjanishvili theatre,” Papashvili declares
Bank Republic officials declare that besides sponsorship activities, BR pays particular attention to the charity. The Tsiskari Foundation supports famous public figures, scientists and actors.
“We are proud that even in the most uncertain times, the Bank continued working as normal. In this era of rapid globalization, and with the current global financial crisis fast becoming a tangible reality here in Georgia, this kind of reliability will be essential for weathering out the tough times ahead and keeping a high level of trust and confidence from the customers,” Gilbert Hie notes in Bank Republics’ periodical corporate publication the Messenger.
Bank Republic implements responsible activities on a daily basis in its core business transactions. BR has sound corporate governance, strict risk management policy, compliance, anti-money laundering policies, transparent finance, on-time tax payments, etc. The Bank shares full responsibility towards customers while offering various products such as micro-lending, auto loans, student loans, credits to SMEs as a social effort to develop the country and reduce poverty.
Bank Republic is a member of the UN Global Compact with regard to CSR. Stable development issues are evident in Societe Generale’s priority trends. The Group adheres to the CSR concept through its own products, service and selected target markets. Bank Republic participates in a strategy to attain environmental, social and economic goals.
BR permanently shares its corporate social responsibility towards its customers, staff, stakeholders, suppliers, and society as a whole. It is truly very difficult to specifically name all the CSR actions performed by BR over the year. As we have continuously implemented various and multi-profile CSR projects.
“Corporate Social Responsibility is not only charity. I had the opportunity to explain this, as I was appointed Chairman of the first UNDP Global Compact Meeting in Georgia last year. To make it short, my concept of CSR is to Care, Share and Respect,” Gilbert Hie declares
Bank Republic, one of Georgia’s oldest privately owned banks, was founded in 1991.Bank Republic is a commercial bank with rapid expansion of operations in Corporate, Retail banking and Financial Services in Georgia. Employing more than 1,000 people, the Bank serves its clients through 36 branches and service centres.
Bank Republic owns 8.6% of the customer market share in deposits and 7.6% in loans.
It has been already one year since Societe Generale Group took over controlling interests in Bank Republic (60% stakes). The Bank is equally strong in Corporate banking as well as in Retail banking and can provide any kind of investment banking services through SocGen Group. Bank Republic is very active in the mortgage credit market, in the consumer finance segment and is seriously represented in micro financing, providing considerable assistance to small entrepreneurs not only in Tbilisi, but throughout Georgia.
Bank Republic is targeting significant income growth and will continue to invest in the organic development of business and rapid expansion of its branch network. BR is planning to open 12-15 outlets in 2008 and in the coming years the number of branches and service centres will reach 60-80 throughout the Georgia.
Written By Tako Khelaia