The FINANCIAL -- Bank of Georgia will raffle 10 apartments at the final stage of its prize draw 100 Winners at Bank of Georgia .

The residential spaces are under the construction of development company Kalasi. They are located on Chavchavadze Avenue. The average space of each flat is 70 sq. metres. The winners will get the flats fully renovated.

Bank of Georgia launched the draw 100 Winners at Bank of Georgia in May, 2009. On January 31, 2010, the ninth draw was held. According to the results of the previous nine stages, the Bank has awarded 90 depositors. Each of them received GEL 10,000.

Among the participants of the draw are depositors who opened a deposit with the amount of GEL 500 or more for a duration of three or more months.

All bank customers who open a deposit before February 20, will automatically partake in the February 28 draw. Among the participants will also be the depositors whose deposits will be active on the day of the draw.
 
Bank of Georgia occupies 29.3% of the total market of depositors.

“Our drawing is connected only with termed deposits. Out of them the most popular is the Green Deposit, which was focused on rehabilitating the forest destroyed in Tsagveri in 2008,” Sophio Balavadze, Corporate Communications and PR Manager of Bank of Georgia , told The FINANCIAL.

Bank of Georgia ignores the statement of their competitors that such raffles turn banks in to lottery companies. “As a customer oriented bank, Bank of Georgia always cares about offering the best circumstances, tailored to the public’s demands,” Balavadze says.
  
In 2009 the Bank twice reduced interest rates on deposits. In October they were changed from 0.25% to 0.5% and in November from 0.75% to 1%.

In 2009 one of the most popular types of deposit was the Investment Deposit, connected with oil and gold price changes. The Bank still offers investment deposits to its customers.

Balavadze says that in 2010, increasing the Bank’s loan portfolio, growing retail banking business by offering products and services tailored to different market segments and further developing  the mass affluent customer segment service will be the main objectives for the Bank.

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