The FINANCIAL — Feeling the positive signs of recovery and political stabilization, accompanied by the increased demands on credits, Bank Republic, one of the leading banks in Georgia has re-introduced the tariffs those being applicable before the war.
The famous “from 13%” on mortgage loan is back in BR, together with the consumer loan tariff at rate of 19%, bank announced on Friday.
“In addition, Dream Card is always available at BR with the competitive terms. We do believe our consumers will enjoy the best competitive conditions in the market. BR will continue creating the innovative product packages with the most favorable terms for our beloved customer”, BR said.
“Even during the August war, the Bank did not stop operations, thus uninterruptedly and very smoothly servicing the clients. In most difficult period the Bank was seeing as the highly professional institution, with the devoted staff caring for the safety, security and comfort of the clients” bank representatives said.
“Even during the most severe outbreak of the international and local financial crisis, Bank Republic never changed the ordinary course of the expansion. During last, very hard year for the banking industry in general, Bank Republic opened 14 more new branches throughout Georgia. The intensive expansion secures the good opportunity for BR to be closer to the customers, offer the Western style and tailor-made products and solution and examine the superior quality of service. Bank Republic will continue the active expansion in coming years both in regions and capital”.
“In addition to active mapping of the Georgian banking sector by the already famous red-and-black logo, Bank Republic managed to maintain the favorable crediting and depositing terms even during the hardest time thus welcoming the rational loan applications, offering the adequate credit solutions and smart depositing packages for our customers. Being sufficiently liquid during the crisis, BR rates stayed the best competitive in the market for the wide range of credits and deposits”.
“Our values are Professionalism, Team Spirit and Innovation. We are here to serve you the best way as the stable financial institution”, BR representatives say.
Bank Republic owns 8.6% market share in deposits and 7.6% in loans. Bank Republic’s average return on equity is 3%. In 2007, its assets increased by 42%.
On 29th of September 2006 Bank Republic entered into agreement with Société Générale Group and EBRD on purchasing 60% and 10% of shares of BR respectively.
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