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Profitable banks' revenue is half a billion GEL

However, at this time last year, digital banks ("Hash", "Pave Georgia") were still in testing mode. Also, as of 01.03.2025, 2 microbanks of the sector, former MFOs MBC and Crystal, were added.The consolidated figure still includes the sanctioned VTB, which loss exceeds 28 million in January-February .The share of 2 systemic banks (BOGG, TBC) in profitable banks is 87%.

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Georgian wine promotion in US will be intensified

According to the agency, a Georgian wine marketing campaign is planned for this year, organized by Colangelo Partners with financial support from the National Wine Agency. The campaign focuses on increasing demand and sales in the U.S. market through strategic initiatives. In addition to ongoing activities, consumer-focused events will be enhanced to further popularize Georgian wine and engage American consumers.As part of the campaign, tasting seminars will be held in various U.S. cities for wine professionals and trade representatives. Georgian wine will also be showcased at international exhibitions, supported by targeted advertising and media campaigns. Additionally, wine tours to Georgia will be organized for media, sommeliers, and sales representatives to deepen their understanding and promote Georgian wine in the U.S. market.Colangelo Partners has been promoting Georgian wine in the U.S. since 2022 under a contract with the National Wine Agency. During this period, Georgian wine exports have shown steady growth. In 2024, exports reached 1.2 million litres—an increase of 32% compared to 2023.The U.S. remains one of the most lucrative markets for Georgian wine, with an average price of approximately six dollars per litre, reflecting its high quality and growing demand.

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Pasta imports decreased by 27%

According to Geostat, in 2024, a total of $20.2 million worth of pasta was imported into Georgia.TOP-3 Pasta Importing Countries in 2024: Russia - $9.71 million Italy - $3.63 million Turkey - $1.9 million As for pasta exports, in 2024, a total of $321 thousand worth of pasta was exported from Georgia, the main part of which ($183,660) was supplied to the Iraqi market.

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CoE Congress adopts resolution on Georgia

The resolution, supported by 101 members with 10 against, expresses deep concern over democratic backsliding and weakening human rights in the country. It highlights growing societal polarization and the adoption of legislation that contradicts Council of Europe standards.“Over the past two years has had an increasingly negative impact on local democracy in Georgia. This has intensified in the aftermath of the 2024 parliamentary elections, which were rejected by all opposition parties, as well as domestic and some international election observers, notably due to concerns over their integrity, and following the decision to halt Georgian EU accession on 28 November 2024,” the resolution reads.It also notes that “following the highly controversial adoption of the Law on Transparency of Foreign Influence and the Foreign Agents Registration Act (FARA) adopted in first reading, NGOs and dissenting voices in the media, which work under increasingly challenging conditions, have been increasingly subjected to intimidation and stigmatisation. This undermines their freedom of association and freedom of expression. In a democratic society, freedom of expression must be protected, supported and promoted irrespective of whether it is critical of the government, and even if it is influenced by international discourse.The brutal repression of peaceful protesters and opponents by law-enforcement authorities in many cities, and particularly in the capital city of Tbilisi, has violated both the freedoms of expression and assembly. Moreover, freedom of assembly in Georgia has been negatively affected by recent amendments to legislation that increase sanctions and offences related to public demonstrations, which according to the Venice Commission introduced “vague and broadly framed provisions, granting the authorities [including local authorities] excessively broad discretion in their application”. This situation has forced local authorities to take decisions that do not comply with democratic standards.The instrumentalisation of public institutions, including at local level, has resulted in numerous reports of dismissals, intimidation and pressure on civil servants. This has been facilitated by the adoption of amendments to the Law on Public Service.”It also addresses concerns expressed in recent reports by international and local observers “regarding the politicisation of public administration, widespread misuse of administrative resources and pressure on voters during electoral campaigns, which unduly tilt the playing field between candidates and distort the will of voters.”“The legal framework applicable to local elections in Georgia has been amended more than 20 times since the last elections, without extensive consultations and broad consensus. This is not in line with the principle of stability of electoral law. The amendments have moreover reinforced the dominant position of the ruling party in the Central Election Commission, undermining its independence, and have also wound back fundamental rules pertaining to the electoral system, gender quotas and the establishment of electoral districts.It notes with concern that these serious shortcomings and challenges affecting the respect of democracy, rule of law and human rights have led to a collapse in public confidence in democratic institutions for large parts of the Georgian population, and notably the young people, and damaged local democracy, which is not conducive to holding the 2025 local elections in a trust-based environment; in fact, it risks exacerbating the situation,” the document reads.

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Losses Increased To Silk Bank By 2 MLN

As of March 1, the bank's loan portfolio is up to 136 million GEL (01.03.2024 – 65.3 million, + 109%Y,.Y).The volume of deposits has also increased, up to 152.6 million GEL. The share has increased by only 0.3 percentage points, up to 0.25% (L/Y- 0.22%).The loss has also grown by 2 million and for January-February, made up 3.3 million GEL (L/Y – 1.3 million).

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Dollarization of loans has increased again

In January, loans issued in the national currency increased by 36 million lari, while foreign currency - by 423 million lari.The portfolio of resident legal entities is 28.7 billion lari, of which 64% is foreign currency.The retail portfolio of banks reaches 32 billion lari.As of February, the larization of total loans is 56.32%. In the reporting month, the coefficient decreased by 0.36 percentage points.The NBG is not planning to raise the limit of foreign currency lending to 500,000 lari yet, as it has only recently come into effect (since January).

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