Within the framework of the “Best SME Bank Awards 2022”, the international publication Global Finance has named Bank of Georgia the best bank for small and medium businesses in Georgia. Global Finance evaluated banks using an algorithm based on criteria such as knowledge of the SME market and its needs, diversity in products and services, the market condition and innovation.
The participant banks were evaluated by INFOSYS international experts and those best able to meet the needs of small and medium-sized businesses in their markets were deemed winners which involved banks from 66 countries around the world, including Central and Eastern Europe, Latin America, the Middle East, North America and Western Europe, as well as international banks such as Sberbank, Alfa-Bank, Tinkoff Bank, Evoca Bank, UniCredit Bulbank, OTP Bank and others.
“The pandemic had a major negative impact on small and medium-sized businesses, the economic engine that plays a crucial role in recovering from any crisis. Global Finance has created the SME Bank Awards Program to recognize the achievements of financial institutions that have been providing the best services and supporting small and medium-sized businesses amid hard times,” said Joseph D Giarraputo, Publisher and Editor-in-Chief of Global Finance.
“Bank of Georgia received recognition from Global Finance for its support of small and medium-sized businesses as we have been introducing and developing a number of products tailored specifically to the needs of the sector for years. In the face of the pandemic, Bank of Georgia focused primarily on helping small and medium-sized businesses to recover and develop. It is important for us to constantly listen to the representatives of SMEs to better understand their challenges so that we can offer the most suitable services and products at the right time. This award is yet more recognition of Bank of Georgia as a reliable business partner, and a huge incentive to keep going,” said Zurab Masurashvili, Head of Small and Medium Business at Bank of Georgia.
Just before receiving this award the international publication Global Finance named Bank of Georgia the best in 5 categories across Central and Eastern Europe. These are best bank for small and medium businesses, online investment management services, trade finance, online treasury services, and mobile-adaptable platforms.
“In a fast-growing digital business environment, digital technologies have increased in importance as the determining success factor. The acknowledgement from Global Finance is yet another piece of evidence that we are on the right track towards digital transformation. This award belongs to all the people who participated in the creation of the Bank’s remote products. We will keep moving forward and continue refining the existing products and services, as well as introducing innovations to create more opportunities for our business customers,” said Vakhtang Bobokhidze, Deputy General Director of Bank of Georgia.