Strategy of Joint Stock Company (JSC) Republic Bank of Georgia, member of Societe Generale Group, aims not at leadership at the Georgian banking market, but introduction of high quality products and services.
Gilbert Hie, Chief Executive Officer of Republic Bank, declared about it at the seminar ran by the National Bank of Georgia (NBG).
Gilbert Hie said that, at the current stage, strategy of the French Societe Generale Group aimed at access to markets of developing countries with growing economy.
“Societe Generale entered the Georgian market 6 months ago only, but it already started serious projects with support of Republic Bank”, - Gilbert Hie declared.
According to him, funding of importers was a main target of the Georgian bank. Support will be provided to corporative customers, as well as the funding will be in favour of economic development of Georgia generally.
The Bank plans development of cooperation with the European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC) and KfW. Banking service will be better accessible, preferential and attractive for the people owing to credit facilities of the above financial institutes.
As of 1 April 2007, JSC Republic Bank has 25 branches and 6 service centres where over 500 staffs are employed. The number of branches is expected to reach 60-80 in 5-6 years, while the staff will be increased to up to 1000. As of 1 April 2007, aggregate assets of JSC Republic Bank totaled GEL 375,7 million that made 8% of banking assets of the Georgian market. Joint stock of the bank totaled GEL 63,1 million as of 1 April.