London midday: Markets drop ahead of key US data
5th Jun 2013 11:18
It was another volatile morning for financial markets on Wednesday as ongoing worries about stimulus measures in the US and a heavy economic data schedule dominated market sentiment. The FTSE 100 hit intraday low of 6,453 this morning, the index's lowest level since the start of May. Concerns abo
Read moreBank of Georgia signs financing package with EBRD
5th Jun 2013 10:59
FTSE 250-listed Bank of Georgia has signed a loan agreement with the European Bank for Reconstruction and Development (EBRD) for 10.0m dollars under the EBRD's Caucasus Energy Efficiency Programme (CEEP). The loan has a maturity of five years and Bank of Georgia, the holding company of JSC Bank of
Read moreLondon open: Stocks hit one-month low ahead of data, Tesco falls
5th Jun 2013 08:30
A flurry of economic data and renewed concerns about the Federal Reserve's 'exit strategy' from stimulus ensured that markets opened firmly in the red on Wednesday morning. The FTSE 100 hit intraday low of 6,507 early on before rebounding slightly within the opening hour - this was the index's lowe
Read moreBank of Georgia further cuts deposit rate
4th Jun 2013 07:45
Bank of Georgia(BGH), the holding company of JSC Bank of Georgia, has announced that the bank has decreased interest rates on its foreign currency, which is predominantly US dollar denominated, and Georgian Lari retail, corporate and wealth management term deposits, in line with the bank's strategy
Read moreBank of Georgia receives financing for housing project
31st May 2013 09:34
FTSE 250-listed Bank of Georgia has received a 14m dollar loan for its subsidiary m2Real Estate to develop green housing projects in Georgia. IFC, a member of the World Bank Group, will provide the funds, including $4m from the IFC-Canada Climate Change Program. The bank said financing is expecte
Read moreBank of Georgia posts increase in first-quarter revenue and profit
13th May 2013 10:16
Bank of Georgia saw revenue and pre-tax profits rise in the first quarter driven by growth in retail banking and wealth management. Profit before tax climbed by 5.7% year-on-year to 50.5m Georgian Lari (GEL) while revenue increased 12% to 13.1 GEL. The group's net interest margin came to 7.6%, up
Read moreTuesday broker round-up UPDATE
23rd Apr 2013 07:40
Associated British Foods: Panmure Gordon ups target price from 1750p to 1800p keeping a hold recommendation. Aveva Group: Sanlam Securities upgrades from sell to hold with an unchanged target price of 1980p. Bank of Georgia: Bank of America raises target price from 1443.60p to 1765p, but downgrade
Read moreThursday broker round-up UPDATE
4th Apr 2013 07:32
Aviva: Bank of America cuts target price from 350p to 335p, while its neutral rating remains unchanged. Barratt Developments: Credit Suisse revises target price from 223p to 317p, while staying with its neutral rating. Bellway: Credit Suisse moves target price from 1202p to 1639p and leaves its ou
Read moreBank of Georgia extends CEO's contract by three years
20th Feb 2013 14:17
Irakli Gilauri, Chief Executive Officer of FTSE 250-listed Bank of Georgia, has agreed with board directors to remain in his position until May 1st 2016. Gilauri's service contract had previously been due to expire in August 2013. Commenting on the contract extension, Neil Janin, Chairman of the b
Read moreEarnings per share up 17.6 per cent at Bank of Georgia Holdings
19th Feb 2013 07:21
Earnings per share rose 17.6 per cent over the full year at Bank of Georgia, the FTSE 250-listed holding bank of JSC Bank of Georgia and its subsidiaries, to GEL 5.22 (£2.04). Year-on-year revenue rose 14.9% to GEL 498.3m (£192.4m) and in the fourth quarter of 2012, revenue was up 15.5% against th
Read moreThursday broker round-up UPDATE
14th Feb 2013 08:09
African Barrick Gold: Deutsche Bank cuts target price from 410p to 340p, while staying with its hold recommendation. Investec reduces target price from 405p to 315p and downgrades from buy to hold. JP Morgan lowers target price from 370p to 290p and downgrades to underweight. AG Barr: Barclays down
Read more