Tbilisi, Georgia -- On May 19, Bank Republic celebrates the opening of new branch in Mukhiani, block #8, IV a m/r, Dumbadze Street. The universal corporate and retail banking solutions and superior quality of service is already available for Mukhiani population. As the part of the networking plan, BR opens its new outlet in this large part of the capital.
The top management of the Bank Republic, new and existing customers and
guests of honors will host the official reception to mark the opening
of Mukhiani branch on 2 PM, May 19. This celebration will be
distinguishable by attendance of the members of the BR Supervisory
Council from Paris, who support the activities of the Bank and, by
paying visits to the Bank, express the constant support from the
financial and banking giant Societe Generale.
The opening celebration will be accompanied by the awarding ceremony of
the 1000th Megobari deposit holder who will receive the gold medal from
the Bank. Starting from today, every 1000th Megobari deposit holder
will be awarded with memorable gifts.
Gilbert Hie, BR CEO, will brief on position, vision, current and future
trends of Bank Republic and banking sector thus underlining the
particular opportunities of the BR clients. In addition, the members of
the Supervisory Council from Paris will make the comments on the
international financial and banking background and plans of Societe
Generale.
A major strategic trend of Bank Republic is to provide the easy access
to the banking services. Despite the financial crisis, BR intensively
executes the network expansion plan. BR branches, equipped per the
Western standards and tailor-made to the customers’ special needs, will
secure the innovative, high quality retail and corporate banking
solutions and the superior service to the customer.
Brief information about companies
Bank Republic is a leading commercial bank with rapid expansion of
operations in Retail and Financial Services in Georgia. Employing more
than 1000 staff, serving its clients through 45 branches and service
centers.
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. www.republic.ge
Société Générale Group
Société Générale is one of the largest financial services groups in the
euro-zone. The Group employs 151,000 people worldwide in three key
businesses:
• Retail Banking & Financial Services: Société Générale serves 27 million individual customers worldwide.
• Global Investment Management & Services: Société Générale is
one of the largest banks in the euro-zone in terms of assets under
custody (EUR 2,720 billion) and under management (EUR 435 billion,
2007).
• Corporate & Investment Banking: Société Générale ranks among
the leading banks worldwide in euro capital markets, derivatives and
structured finance.
Société Générale is included in the five major socially-responsible investment indexes.
Established in 1864, Société Générale is the 7th largest French company
by market capitalization and one of the leading financial services
group in euro zone. It employs over 151,000 people in 82 countries
worldwide. Its business mix is structured around three core businesses:
Retail Banking & Financial Services, Global Investment Management
& Services and Corporate and Investment Banking. Société Générale
Group has demonstrated remarkable growth and achieved transformation;
the Group has doubled in size over the past 6 years while consistently
delivering high profitability, operating efficiency and rigorous risk
management. www.socgen.com
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