Bank Republic Holds Business Administration Trainings for Customers

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The FINANCIAL — Bank Republic has announced that it sponsored the trainings of twenty customers in business administration, aiming to help them increase their businesses skills.


The FINANCIAL — Bank Republic has announced that it sponsored the trainings of twenty customers in business administration, aiming to help them increase their businesses skills.


The training was held in the form of several seminars specifically for those customers who benefited from the Bank’s 12% Business Loans. Participants could choose to pay only the interest rate during the first twelve months of the loan repayment period.

This campaign continued from February 16 till March 31. More loans were approved during this period but only 3 million GEL was issued in total. The participants of the training represented various businesses. Some of them had quite substantial experience in doing business and others were start-ups. Christian Carmagnolle, CEO of Bank Republic, awarded the participants with diplomas last week.

“We created two business plans over the course of twelve meetings,” said Irina Kitiashvili, trainer. “We discussed eleven modules and finally summed up these modules in business plans.”

The special offer by Bank Republic was a result of their strategy to support small and medium businesses. Therefore the Bank is offering special products and terms fitting to the needs of entrepreneurs.

“We are glad that small and medium entrepreneurs attended these trainings,” said Christian Carmagnolle. “Bank Republic is their partner. We don’t just want to give out loans. We aim to become the partners of SMEs. The trainings were useful for the Bank itself as well. We will continue supporting them and hope that the knowledge they received at the Bank Republic trainings will help them in running their businesses successfully in the future.”

“Bank Republic has not been particularly active during the past several years,” said Ramaz Kukuladze, Commercial Director of Bank Republic. “We have now changed the strategy and attitude though. We don’t just want to be a bank which issues loans. We are becoming the long-term partners of each of our customers. Our retail and corporate credit officers are ready to serve and support our customers in being successful.”

The participants of the seminar deepened their knowledge of the issues including business management, risk management, human resources management, quality management, communication and negotiations, marketing, public relations and operating commercial agreements. Entrepreneurs as well as employees of the companies were invited to attend the twelve seminars.

The participants are satisfied with the trainings. All of them appreciate the knowledge received at the trainings.

“I’ve been running my business for a long time,” said Eduard Palagashvili, owner of Inter Security Georgia. “So I had quite a long history of experience but it was only from practice. I hadn’t had any theoretical knowledge. Now I have both practical and theoretical knowledge and I’m sure that as a result my business will be more successful.”

Maia Gogoladze owns an aesthetic centre in Rustavi. Bank Republic supported her financially in building a new eco building for the aesthetic centre. She claims that the trainings will help her to be more successful.

“I’m a self-educated businesswoman,” said Maia Gogoladze, owner of Maia Gogoladze’s Aesthetic Centre. “Then recently my business was expanding while my knowledge and experience wasn’t enough anymore. Therefore these trainings have helped me a lot. I now look at everything differently. I have seen the business from a different side and I now plan everything in a different way.”

Bela Navrozashvili, one of the participants of the training, said that if she had had such trainings during the period when she started up her business then she would have been that much more successful today.

Bank Republic plans to continue offering such products and services to its customers and even expand them in the regions.

Bank Republic is one of the leading commercial banks in the country with rapid expansion of operations in corporate, retail banking and financial services in Georgia. Employing more than 1,000 people, the Bank serves its customers through 37 branches and service centres.

The total income of the Bank in 2011 was 66,281 thousand GEL, while total expense was 76,278 thousand GEL. Income tax of the Bank in 2011 amounted to 1,075 thousand GEL and net profit totalled 8,921 thousand GEL.



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