News Column

Bank Of Georgia Raises USD25 Million With Trade Finance Club Facility

July 28, 2014

Hana Stewart-Smith

LONDON (Alliance News) - Bank of Georgia Holdings PLC said Monday that it has closed a USD25 million one-year trade finance club facility with Citigroup Inc.

It said the facility will support the growth of its trade finance portfolio, and further strengthen its position in the corporate banking sector.

"We are delighted to be one of the first companies in the region to take advantage of the Trade Finance Club facility with Citi," said Chief Executive Irakli Gilauri in a statement. "The new facility is intended to meet the evolving needs of our diverse corporate client base and to reinforce our competitive advantage in the market."

Shares in Bank of Georgia were trading down 1.0% at 2,492.00 pence Monday afternoon.

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Source: Alliance News

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