Banking

Second Phase of Stripping Commercial Banks of Noncore Assets Underway

Second Phase of Stripping Commercial Banks of Noncore Assets Underway August 3, 2018Leave a comment
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National Bank of Georgia (NBG) wants to broaden supervisory range. The NBG president has announced the next phase of separating noncore?assets from commercial banks in Kutaisi.

Details of your second stage will likely be unveiled just after marketplace are going to be designed by NBG, Koba Gvenetadze said.

Gvenetadze have not specified if thez bill has been agreed together with the banking sector. He noted that changes will be discussed with all the industry representatives, but he has got not specified this area C housing, hospital, pharmaceutical or energy sectors. During the mentioned sectors commercial banks or their subsidirries hold assets.

We remind yhou that commercial banks were banned to support noncrore assets in October 2014. The deadline for meeting new standards was the 31st of December, 2015.

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