Bank of Georgia grows profits 15% but forecasts GDP to falter in 2015
20th Feb 2015 08:56
Thanks to a strong fourth-quarter for customer lending and its expansion into healthcare over the year, Bank of Georgia produced record annual revenues, profits and earnings in 2014. But the FTSE 250 banking group revised down its expectations for the Georgian national growth in 2015 as growth will
Read moreFTSE 250 movers: Supergroup rises as Numis reaffirms rating
6th Nov 2014 15:45
Supergroup rose after Numis Securities reaffirmed its 'hold' rating on the stock, with a target price of 1,100p which would suggest a potential upside of 41.21% from the stock's previous close. Since 31 October, three other analysts firms, Berenberg, Investec and Cantor Fitzgerald Europe, reiterated
Read moreThursday broker round-up UPDATE
6th Nov 2014 10:01
Amec: UBS cuts target price from 1185p to 1150p, while its buy recommendation remains unchanged. Afren: Liberum Capital cuts target price from 121p to 95p and stays with its hold recommendation. Antofagasta: Canaccord cuts target price from 790p to 760p and reiterates a hold recommendation. Associ
Read moreBank of Georgia signs $35m senior loan deal with German bank
24th Oct 2014 10:18
Bank of Georgia announced it has signed a $35m senior loan agreement with Deutsche Investitions und Entwicklungsgesellschaft (DEG). The five-year loan will be used to extend financing to the growing small to medium enterprise (SME) sector in the country. "I'm very pleased to once again join forces
Read moreThursday broker round-up UPDATE
16th Oct 2014 08:57
Afren: Investec cuts target price from 195p to 120p and reiterates its hold recommendation. Amerisur Resources: Investec lowers target price from 75p to 65p and maintains a buy recommendation. Antofagasta: UBS upgrades from sell to neutral with a target price of 710p. ARM Holdings: Credit Suisse r
Read moreBank of Georgia subsidiary acquires 60-bed hospital
6th Oct 2014 07:05
JSC Evex Medical, the healthcare subsidiary of FTSE 250-listed Bank of Georgia, has acquired a 60-bed hospital in Tbilisi. The move is part of its strategy to scale up its healthcare business through targeted hospital acquisitions focusing on the Tbilisi region. JSC Evex now has 38 healthcare facil
Read moreBank of Georgia takes €15m loan from Green for Growth Fund
30th Sep 2014 09:46
Bank of Georgia has received a €15m senior loan facility from Green for Growth Fund (GGF) that will be used to finance energy efficient construction projects in Tbilisi. The investment is expected to result in primary energy savings of more than 20% for energy compared to conventional buildings. "W
Read moreFTSE 250 movers: Miners regain recent losses
24th Sep 2014 15:22
Mining group Kazakhmys rose after announcing that it has been awarded a contract for the construction of a sulphide concentrator at Aktogay, its second major copper growth project, to Non Ferrous China (NFC). The sulphide concentrator contract is the largest item in the capital expenditure budget fo
Read moreBank of Georgia director reduces stake
11th Sep 2014 16:19
Sulkhan Gvalia, the deputy chief executive officer of corporate banking at Bank of Georgia Holdings, has reduced his holding in the company after trading in 7,654 shares. The shares were sold at 2,551p each for a total of £195,254. Last month, the FTSE 250 constituent hailed a record first half wit
Read moreFTSE 250 movers: Bank of Georgia rises on medium-term outlook
5th Sep 2014 13:59
Bank of Georgia Holdings rose after it updated investors on its medium-term strategic goals, saying it would continue to focus on the Georgian market. It said that it expects that its strategy will continue to target over the medium term to deliver a return on average equity of 20%, customer lending
Read moreFTSE 250 movers: Hellymanntyton rises on strong H1 revenue growth
22nd Aug 2014 15:03
Hellermanntyton, the cable ties specialist, rose after it said that revenues in the first half grew strongly at constant currency, helped by double-digit growth in each of its geographies. However, gains were limited after profits came in shy of analysts' expectations. Oil explorer Premier Oil rec
Read moreBank of Georgia reports record first half, as profits grow 10%
22nd Aug 2014 08:54
Bank of Georgia hailed a record first half with revenues and profits improving over the year. The bank, which has more than a third of the market share in Georgia based on total assets, said revenue rose 7.3% to 281.5m lari (GEL) in the six months to 30 June, equal to around £98m. Meanwhile pre-ta
Read moreFriday broker round-up UPDATE
22nd Aug 2014 08:39
Ashtead Group: Berenberg raises target price from 1110p to 1145p maintaining its buy recommendation. Bank of Georgia: Peel Hunt increases target price from 2416p to 2600p and reiterates a hold recommendation. Boot (Henry): Numis upgrades from add to buy with a target price of 254p. Howden Joinery
Read moreBank of Georgia agrees $20m trade loan deal
24th Jul 2014 13:39
Bank of Georgia has signed a $20m trade finance loan deal with Turk Eximbank, which is the only official export credit agency of Turkey to extend financing to Georgian companies that import Turkish consumer and capital goods to Georgia. Under the agreement, they will together be able to offer clie
Read moreBank of Georgia receives €18.5m senior note
26th Jun 2014 15:25
Bank of Georgia has received an €18.5m senior loan from the European Fund for Southeast Europe (EFSE), it announced on Thursday. It said it anticipated the loan would contribute to the expansion of its micro and small enterprise lending. "I am delighted to join forces with the EFSE to finance the
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