The FINANCIAL — The agreement has been signed between KSB Bank and Al Dhabi Constructing LLC on allocation of credit resource. According to this agreement, Al Dhabi Constructing LLC has allocated the subordinated loan in the amount of USD 10 million to the bank, by which the supervisory capital of KSB Bank has been increased.
“The purpose of this mutual agreement is for the bank to expand financing of SME businesses and enhance development of this segment in Georgia. We wish to make the lending more available for the Georgian entrepreneurs and provide them with the real benefit. We are also sure that this agreement will be interesting and fruitful for both sides”, said Mrs. Thea Lortkipanidze, CEO of the bank.
Al Dhabi Constructing LLC is the affiliate company of the Arabic “Dhabi Group”. “Dhabi Group” is the leading business group in the UAE and operates in many business sectors, including tourism, construction, real estate, development and management, production, sea wells, banking and financial service, and others. The Group is led by His Excellency Sheikh Nahayan Mabarak Al Nahayan, State Minister of Education and Scientific Research of the UAE. His Excellency Sheikh Nahayan is also the owner of the 45% of shares of “Kor Standard Bank”. “Dhabi Group” is focused on expanding the investments in the financial activities through the strong financial resource and management experience in the emerging, developing markets.