TBC and Bank of Georgia shares lost more than 3% in value

The IMF estimated unemployment in Georgia would decrease by 11 percentage points and equal to 15.7 percent by 2024, compared to the levels in 2012.According to the IMF, the unemployment rate in the country was the highest in 2010, 2011 and 2012 at the level of about 27 percent.The IMF said unemployment had increased in Georgia by the highest percentage point in the world in the period up to 2012. The increase in unemployment in that 12-year period exceeded 16 percentage points.

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During the meeting, the Ambassador officially handed over a note to the Georgian side, indicating that China has completed the procedures for the entry into force of the bilateral agreement between the Governments of Georgia and China on visa requirements for holders of ordinary passports.As a result, Georgian citizens will be able to travel to China without a visa and stay there for up to 30 consecutive days starting from May 28, 2024.“The visa-free regime introduced between Georgia and China is another expression of the strategic partnership established between the two countries last year and represents another important tangible result of cooperation.During the meeting, the parties discussed current issues on the agenda of bilateral and multilateral relations between Georgia and China, including opportunities for cooperation development in political, economic, tourist, and cultural-humanitarian directions.The importance of fully utilizing the new opportunities created by the strategic partnership established between the two countries last year was emphasized,” stated the Georgian MFA.The visa-free regime for Chinese citizens travelling to Georgia has been in effect since September 11, 2023. On February 26 of this year, China announced the establishment of visa-free travel for Georgian citizens.

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Bank of Georgia Group (BGEO LN) shares closed at GBP 53.60/share (+10.86% w/w and +9.28% m/m). More than 463k shares traded in the range of GBP 48.30 - 53.90/share. Average daily traded volume was 59k in the last 4 weeks. The volume of BGEO shares traded was at 1.02% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 34.50/share (+12.56% w/w and +9.00% m/m). More than 329k shares changed hands in the range of GBP 30.65 - 34.50/share. Average daily traded volume was 56k in the last 4 weeks. The volume of TBCG shares traded was at 0.59% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 13.32/share (+3.26% w/w and +1.06% m/m). More than 124k shares traded in the range of GBP 12.78 - 13.40/share. Average daily traded volume was 33k in the last 4 weeks. The volume of CGEO shares traded was at 0.29% of its capitalization.

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During the discussion, organised by the Bank’s webcast series ADB Insight, Khutsishvili said Georgia was hosting the Annual Meeting “at a very crucial time” - the first time as the European Union membership candidate country.He explained that the slogan for the event - Bridge to the Future - was chosen as Georgia positioned itself as a bridge connecting Europe and Asia.“Georgia is an ancient country with a great history, a very modern society and a very bright, young generation, which also emphasises the fact that the country is moving forward”, Khutsishvili added.In his turn, the ADB President thanked the Georgian Minister for hosting the Annual Meeting in Tbilisi and highlighted the role of the development-oriented multinational banks as “a bridge to take a step towards the future”.The discussion, before the Annual Meeting of the ADB to be hosted in Tbilisi from May 2 to May 5, was also attended by Odile Renaud-Basso, the President of the European Bank for Reconstruction and Development.

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As of January 1, 2024, the male population equaled 1 774.5 thousand persons, and the female population was 1 920.1 thousand persons. In Georgia, 48 percent are male and 52 percent are female population.The sex ratio, i.e. number of men per 100 women, equals 92. It is worth mentioning, that under the age of 40 the number of men exceeds that of women, while the opposite situation is observed for the age group of 40 and over, which could be explained by females’ higher life expectancy.Compared to previous year, in 2023 the life expectancy at birth has increased by 1.3 units and equals 75.0 years, including 70.6 years for males and 79.4 years for females.As of January 1, 2024, the median age of population equals 38 years.In 2023, the number of emigrants totals 245 064 persons increasing by 95.6 percent compared to the previous year. The number of immigrants increased by 14.5 percent, amounting to 205 857 persons.In the same time period, 75.9 percent of immigrants and 62.2 percent of emigrants represent the working-age population (15-64 year age group).In 2023, 44.6 percent of immigrants and 66.7 percent of emigrants are citizens of Georgia.

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A new counter-cyclical buffer has been launched for the sector since March.According to the NBG, banks, including microbanks, are required to have an excess reserve of 0.25%. A digital bank (Paysera, Pave Bank) is exempt from these and other capital regulations.With the newly implemented buffer, the system will not lack more than $125 million in resources.The 0.25% is the first phase of the 1% capital requirement distributed over 4 years and will be effective until March 15, 2025.Then it will be doubled and the 0.5% rate will apply until 2026. It will equal 1% on March 15, 2027. TOP 6 Banks with Supervisory Capital.

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In the same period, the volume of loans issued in national currency increased by 562.23 million GEL (or 1.93%), while the volume of loans issued in foreign currency increased by 974.63 million GEL (or 4.22%) (without the exchange rate effect, it increased by 2.99%).By the end of March 2024, commercial banks issued loans in the amount of 8.84 billion GEL in national currency (2.27% more compared to the previous month) for resident legal entities and 15.21 billion GEL in foreign currency (5.19% more compared to the previous month) (3.95% more without the exchange rate effect).In March 2024, retail lending to residents increased by 2.00%, or 548 million GEL, to 28 billion GEL.Larization ratio of total loans was 55.2% for Q1/2024, it decreased by 0.55 percentage points compared to the end of the previous month.

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In March, term-deposits increased by 706.91 million GEL (+3.35%m.m), demand-deposits by 607 million GEL (+2.07%m.m).Larization ratio of deposit by 0.17 percentage points to 50.33% in March.In March, the average weighted annual interest rate of term deposits was 7.25%, including 9.56% for national currency deposits and 1.97% - for foreign currency deposits.The share of the USD in foreign currency deposits was 78.67%, and the share of the EUR was 19.60%.

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