The FINANCIAL -- On June 27, Bank Republic celebrated the opening of a new branch in East Georgia, at 13 Rustaveli steet, Kvareli.

This month, Bank Republic has opened a new branch in the very beautiful town Kvareli. This new outlet, after the branches in Telavi and Signaghi, is the third one on the map of the Kakheti region. The new outlet will secure the full package of the retail and corporate banking solutions and offer deposit, credit and other products and benefits to both existing and new customers in the area.

The top management of Bank Republic, new and existing customers and honoured guests attended an official reception to mark the opening of the Kvareli branch.

The managers of BR presented the information on the products and services exclusively available for BR customers.

“Our major strategic directions including excellent quality of service, innovative and tailor made products and proximity to each and every customer will be intensively followed and observed in the new Kvareli outlet,” BR reported.

Bank Republic is a leading commercial bank with rapid expansion of operations in Retail and Financial Services in Georgia. It employs more than 1,000 staff, serving its clients through 46 branches and service centres.

Bank Republic owns an 8.6% market share in deposits and a 7.6% in loans. Bank Republic’s average return on equity is 3%. In 2007, its assets increased by 42%.

On 29 September, 2006 Bank Republic entered into agreement with Société Générale Group and EBRD on purchasing 60% and 10% of shares of BR respectively.

Société Générale is one of the largest financial services groups in the euro-zone. The Group employs 163,000 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 groups in the euro zone. It employs over 163,000 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.

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