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Georgian banking sector to face big changes

2011-03-29 20:37

Big changes are in store for the Georgian banking sector. There can be a number of mergers and acquisitions. As reported by Business Georgia, such suppositions have been voiced today by President of Association of Georgian Banks Zurab Gvasalia. However, Gvasalia did not name any bank and refused to make further comments. Besides, the talks about Arabian countries being interested in the Georgian banks are also denied by Gvasalia. He says all the decisions on the matter will be announced in the nearest time.

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Neither does National Bank confirm the foreign bank's entrance in the Georgian market, though it does not deny the information.

In the opinion of a number of experts, Arabian investments are incapable of changing the situation in the Georgian banking sector.

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