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Article: Central & Eastern Europe - Georgia: Georgians Tread Well-worn Path - The Georgian Banking Sector Is Growing And There Is Healthy Competition. Bank Of Georgia CEO Lado Gurgenidze Is Looking At What Lies Ahead For Banks In The Caucasus. James Hydzik Reports.
- Article from:
- The Banker
- Article date:
- June 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: JAMES HYDZIK
Georgia's bankers are watching the development of the Ukrainian banking system closely. While its larger neighbour is the site of a spate of mergers and acquisitions, the Caucasian country is home to a growing banking sector.
Lado Gurgenidze, CEO of Bank of Georgia, says that the banking sector in the country is highly diversified, considering the region. "We don't have a dominant bank, as they do in Azerbaijan, for instance. There's healthy competition and we're a lot like Ukraine in that regard."
A foreign presence is not uncommon: four of the top five banks have foreign partners. This is reflected within organisations. ...