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Bank Republic Encouraging Families and Businesses to Start Renovations

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The FINANCIAL — Bank Republic JSC, a member and subsidiary of the international Societe Generale Group, has started offering a new type of loan aimed to finance renovations.

 

This should make renovations a fast, simple and enjoyable process.

“Summer is an active period for renovations. It is a time when companies are trying to create a comfortable environment for their customers and employees. We at Bank Republic provide loans to fulfil these plans,” said Eka Toroshelidze, Director of the Department of Marketing, PR and Branding of Bank Republic.

There is no limited loan portfolio assigned for the new product. No defined minimum and maximum interest rates, since the product is tailored to each individual borrower, the Bank said. 

With the renovation loan Bank Republic is introducing its new, customer-oriented strategy. This strategy is the difference between Bank Republic and other banks operating in Georgia. “Loan officers will help customers to choose the type of renovation loan that suits their exact needs rather than the Bank’s needs and interests. This fulfills our purpose to be part of the success of our customers. We aim to satisfy all the needs of our customers,” said Eka Toroshelidze.

According to Toroshelidze, for those who wish to purchase renovation materials, furniture or electronics by instalment, Bank Republic is offering a special product – ‘Instant Instalment’. “Only Bank Republic offers all the different types of loans necessary for renovations. We do not ask customers to draw up an estimate. We do not encumber our customers with a mortgage loan,” she added.

For those customers who only need up to 5,000 GEL for renovations, Bank Republic is offering instant loans without the need for any collateral, in as little time as an hour. On top of that the Bank is offering special gifts such as 10-25 percent discounts on renovation materials, lighting systems, furniture and accessories at Bank Republic’s partner shops.

There are 60 partner shops that are in partnership with Bank Republic including Embawood, Belux, Danish House, Demas, Caparol and others.

“If the customer thinks that he/she needs additional funds for renovations, then we will offer them our ‘Dream Card’ free of charge for one year. The Dream Card is a credit card that enables the owner to repeatedly withdraw up to 10,000 GEL without collateral for one year and use this amount in 55 days for 0 percent interest, or repay it step by step with small monthly instalments,” Toroshelidze added.

Toroshelidze notes that the renovation loan will be especially popular in Tbilisi and Batumi as these two cities are involved in intensive construction works. The most active period for renovation is summer. That is why the Bank decided to start its renovation loan programme from this summer.

“The renovation loan will be offered every year during the summer period as summer is the best time for renovating and changing one’s home or office interior,” Toroshelidze said.

Bank Republic hopes that its renovation loan will bring it more customers and improve its image in general.

“The renovation loan is totally oriented at customer’s interests but it will be profitable for the Bank as well,” said Toroshelidze. “We expect to increase the number of our clients. We want to attract other bank’s clients as well as please our existing clients. We also care about our image. We want to show our customers what Bank Republic represents,” she added.

Bank Republic, as an active member of the banking industry, implements active strategic actions and offers very beneficial and innovative products to customers. In 2011 BR significantly eased its crediting terms and presented the cheapest rates ever on the Georgian market, which was considered by society to be a “very positive campaign” thus proving to be completely popular and successful, and ultimately leading to an increase of the credit portfolio of the Bank.

Bank Republic will also offer more interesting and attractive solutions to customers in the future.

 

 

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