The FINANCIAL — In 2009 Bank Republic will take additional market shares, according to Gilbert Hie, Chief Executive Officer of Bank Republic. In terms of corporate and retail activities, the plans of Bank Republic for 2009 are dynamic and growth oriented.
“In 2009, the Bank is planning an active development push in all directions. Taking additional market shares, increasing the number of branches, offering new products to customers and improving the service quality are Bank Republics’ biggest challenges for 2009,” Gilbert Hie told The FINANCIAL.
“Even in the most difficult situations, the Bank continued to work normally providing all of its usual services to customers. The Bank’s financial condition has been consistently stable,” Gilbert Hie declares.
“Bank Republic owns 8.6% of the customer market share in deposits and 7.6% in loans. In 2007 its assets grew by 45%, leaving the Bank with GEL 4.65 million net profits,” Officials of BR report.
“With a background of high level liquidity, we invite all corporate companies and individuals to visit BR and get credits. The confidence of Bank Republic belongs to Societe Generale Group, the 60% owner of Bank Republic’s shares, which made EUR 2 billion profit in 2008,” Gilbert Hie says.
“Bank Republic is oriented at the growth and development of the company. Its mission is to offer universal banking services to customers. BR introduces innovative banking products and top quality services to its clients. The aim of BR is to improve the service quality and strengthen its position on the Georgian banking market,” Nikoloz Alavidze, Head of Corporate Banking Division of Bank Republic, declares.
“Bank Republic is in third place with its actives on the Georgian banking sector. Our aim is to raise the shares of the market in every direction on the local market,” Irakli Aslanishvili, Commercial Director of Bank Republic, states.
“Bank Republic has no liquidity problems. Even during the local economical crisis, corporate demands haven’t decreased. BR has very strong support from international financing institutions,” Nika Alavidze says.
According to the officials of Bank Republic, the cooperation between EBRD and Societe Generale proves that Bank Republic is a serious, stable and reliable financial group, which can offer its customers universal banking services despite the global economic and local political crisis.
Societe Generale Group is one of the largest groups in the Euro-zone in terms of financial services. Today the group serves more than 22.5 million consumers throughout the world. In France, the Bank operates two complementary distribution networks, namely Société Générale and Crédit du Nord. The Group is represented in more than 80 countries and employs more than 120,000 persons worldwide.
The European Bank for Reconstruction and Development is the largest investor of the region, managed by 61 countries and two intergovernmental organizations. Regardless of its belonging to the state sector, EBRD invests in the private sector, with the co-participation of commercial partners.
“It’s the strategy of Societe Generale to continue working in its usual rhythm. We are planning to stay active and open several new branches in Georgia. The openings of new branches will help us to develop our activeness on the local market. Our aim is also to raise the shares at the moment,” George Suladze, Head of Retail Banking of Bank Republic, told The FINANCIAL.
“Bank Republic offers international banking standards to its customers. The theme of quality is very important and a priority for BR. We are keeping being dynamic and 14 new BR branches are planned to be opened in Georgia this year,” Irakli Aslanishvili says.
“The opening of new branches per month is evidence of the strength of financial stability during the crisis. BR has enough resource to take additional market shares. We belong to a financial group which provides solidity and liquidity to customers who are able to get any kind of credit facilities they need,” Gilbert Hie declares.
“BR has 45 branches in Georgia already. One new branch of Bank Republic has been opened at 37 Vakhtang Gorgasali Street, Ortachala, Tbilisi. We are going to open 3 branches in the next 3 months,” Gilbert Hie says.
George Suladze declares that BR continues to have an active relationship with its customers and will offer them the needed services.
“At the moment we are trying to keep the quality of our service towards clients. None of the products at BR have been stopped during the tense economical situation. Because of the local and global economical crisis, we have slightly stricter banking conditions for clients at the moment. In retail banking, the only demand is that the salary of our client should be included in Bank Republic in order to get a loan,” George Suladze declares.
“Bank Republic’s activities include wide ranges of retail and corporate banking services. The Bank effectively combines fundamental skills with high western standards, which allows it to attract more customers and better satisfy their needs. Bank Republic offers the highest quality services to its corporate clients,” Nikoloz Alavidze says.
For Bank Republic officials, the quality of the bank is always very important, even during a tough economical situation.
“Bank Republic is developing its vision and missions day by day. Our main missions are team working, professionalism and innovations. We are trying to reveal these aspects through our everyday work,” Irakli Aslanishvili says.
Written By Tako Khelaia