The FINANCIAL -- Bank of Georgia , a leading universal bank in Georgia, has summed the results of investment deposit. The first product offered to customers was the deposit linked to the oil price. According to the results of April Bank has paid out USD 92,415 as an Additional Yield. “Additional USD 240,000 will be paid as Guaranteed Yield,” representatives of Bank of Georgia notes.

The FINANCIAL -- HSBC ’s new branch has opened on May 15 on Pekini Street. The new branch offers a full range of retail and commercial products and services to its customers. The head office and the main branch of HSBC Bank Georgia are located on Rustaveli Ave.

The FINANCIAL -- In April 2009 the volume of money transfers from abroad constituted 60.7 million USD, which is 22.9 million USD or 27.4 percent less than the same figure for April 2008.

The FINANCIAL -- The Monetary Policy Committee (MPC) of the National Bank of Georgia (NBG) met on May 13, 2009 and decided to maintain its main policy rate (the refinancing rate) unchanged at 6 percent.

The FINANCIAL -- Bank of Georgia , Georgia’s leading bank said is has signed International Swaps and Derivatives Association (ISDA) Master Agreement with International Finance Corporation (IFC). The Agreement will help the Bank engage for the first time in interest rate swap transactions.

The FINANCIAL -- Fitch ratings has on May 6 put JSC BTA Bank (Georgia)'s 'CCC' Long-term Issuer Default Rating (IDR) on Rating Watch Negative (RWN). A full list of rating actions is provided at the end of this release.

The FINANCIAL -- “Street rallies cause uncertainty. Industries never like them. But the affect of the events on the banking sector today have been minimal,” Timothy Krause, Senior Manager, Financial Markets of International Finance Corporation said during a meeting with media representatives organized in TBC Bank ’s office.

The FINANCIAL -- Non-bank deposits (current accounts and term deposits) in the country’s banking sector constituted 2.8 billion GEL by April 1, 2009, which is 6.4 percent less than the comparable figure for the same period of 2008.