Bank of Georgia Growth and Reform Strategy
WELL-ESTABLISHED FUNDING STRUCTURE
Interest Bearing Liabilities structure | 31 Dec 2019
Banking Business
Interest Bearing Liabilities GEL 16.1bln
Well diversified international borrowings | Dec-19
Banking Business
Borrowings,
GEL 1,848.8
mln, 11.5%
Debt securities
issued, GEL
2,120.1 mln,
13.1%
Other amounts
owed to credit
institutions,
GEL 2,085.3
mln, 12.9%
Client
deposits &
notes, GEL
10,076.7
mln, 62.5%
Current
accounts and
Time
deposits,
50.0%
demand
deposits,
50.0%
の
European Bank
for Reconstruction and Development
OPIC
KFW DEG ADB
IFC
FMO
Finance for Development
Black
Sea
Trade &
Development
Bank
EFSE
EUROPEAN FUND FOR SOUTHEAST EUROPE
Other debt
securities,
GEL 431.5 mln,
10.9%
Others
borrowings,
GEL 362.7 mln,
9.1%
DFIs,
GEL 1,486.1 mln,
37.4%
Eurobonds,
GEL 1,688.6 mln,
42.5%
Borrowed funds maturity breakdown*
Banking Business
US$ millions
500
428
4.9%
400
6.6%
1.3%
316
0.5%
300
339
174
0.7%
200
101
100
90
142
87
89
9
34
48
О
11
10%
"
5%
1.1%
0%
1.6%
0.1%
0.0% 0.0%
-5%
72
-10%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
Senior Loans
Subordinated Loans
% of Total assets
Eurobonds
Highlights for 2019
Group has a well-balanced funding structure with 62.5% of interest bearing liabilities
coming from client deposits and notes, 9.2% from Developmental Financial
Institutions (DFIs) and 10.5% from Eurobonds and notes issued, at 31 December 2019
At 31 December 2019, c.GEL 320 million undrawn facilities from DFIs with up to ten
years maturity
In December 2019, the Bank signed a ten-year US$ 107mln subordinated syndicated
loan arranged by FMO in collaboration with other participating lenders. The facility is
expected to be treated as a Bank Tier 2 capital instrument (upon disbursement and
approval of the National Bank of Georgia) under the Basel III framework
In July 2016, BGEO Group issued 7 year, US$ 350mln Eurobonds with 6.00% coupon
(bonds were pushed down to BOG in March 2018). Bonds were trading at 4.133%** on
31 January 2020
In June 2017, BOG issued 3 year, GEL 500mln local currency international bonds with
11.00% coupon. Bonds were trading at 9.238%** on 31 January 2020
In March 2019, BOG issued US$ 100mln 11.125% Additional Tier 1 capital perpetual
subordinated notes callable after 5.25 years and on every subsequent interest
payment date, subject to prior consent of the NBG. Notes were trading at 9.704%**
on 31 January 2020
BANK OF GEORGIA
converted at GEL/US$ exchange rate of 2.8677 at 31 December 2019
** source: Bloomberg
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