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What is the Asset Condition of Commercial Banks in Georgia?

As of December 01, 2019, the Georgian banking sector is represented by 15 commercial banks; 14 of them – with foreign capital in statutory capital.

According to the National Bank, in November compared to the previous month total assets of Georgian commercial banks (at current prices) were increased by 140.4 million GEL, or 0.3 percent (0.2 percent without exchange rate effect), amounting to 46.5 billion GEL.

The banking sector's own funds amounted to GEL 5.6 billion, representing 12.0 percent of total assets of commercial banks.

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Supervision of the Leasing companies

Supervision of the Leasing companies
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The National Bank of Georgia plans to make changes in the relevant bylaws in order to improve the operating environment of lending entities.

The National Bank of Georgia plans to make changes in the relevant bylaws in order to improve the operating environment of lending entities.
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From May 12, 2021, significant changes will be made to the Law of Georgia on the Legal Status of Aliens and Stateless Persons.

From May 12, 2021, significant changes will be made to the Law of Georgia on the Legal Status of Aliens and Stateless Persons.
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On April 1, 2021, a new rule of protection of consumers' rights while providing services by financial organizations came into force

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On February 22, 2021, the draft law on "Code of Enforcement" was submitted to the Parliament of Georgia for consideration.

On February 22, 2021, the draft law on "Code of Enforcement" was submitted to the Parliament of Georgia for consideration.
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Significant changes were made to the Tax Code from January 5, 2021

Significant changes were made to the Tax Code from January 5, 2021
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Significant amendments to the Labor Code came into force

Significant amendments to the Labor Code came into force
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Visit to Georgia for business activities and / or work purposes

Visit to Georgia for business activities and / or work purposes
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The procedure for entering Georgia for business and / or labor activities has been simplified for foreign visitors

The procedure for entering Georgia for business and / or labor activities has been simplified for foreign visitors
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The Law on Competition is being amended

The Law on Competition is being amended
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The "Children's Rights Code" came into force on September 1

The "Children's Rights Code" came into force on September 1
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The Government of Georgia gives foreign citizens the opportunity to work remotely from Georgia

The Government of Georgia gives foreign citizens the opportunity to work remotely from Georgia. For
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VAT reform based on international practice

VAT reform based on international practice
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Georgia is starting to open the borders

Georgia is starting to open the borders
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About subsidized mortgage loans

About subsidized mortgage loans
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The State of Emergency was extended until May 22, 2020

The State of Emergency was extended until May 22, 2020
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The National Bureau of Enforcement is switching to a fully electronic method of operation

From April 6, 2020, the process in the National Bureau of Enforcement will be simplified and
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In one year the number of microfinance was reduced by 19

According to the National Bank of Georgia, there are 48 microfinance organizations operating in the country. Their number has declined by 19 during the past year.
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Changes in licensing and regulation of brokerage companies

Within the framework of the Securities Market Regulatory Update Program, amendments were made to the "Brokerage Company Licensing and Regulation Rules" approved by the Order of the President
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