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Bank of Georgia is a leading Georgian universal bank, providing a full range of commercial and investment banking, wealth management, insurance, leasing and card processing services to its corporate and retail clients. The largest retail bank in the country with an 33% market share by total assets, Bank of Georgia serves over 730,000 retail clients through its network of 141 branches and 382 ATMs (the largest ATM footprint in Georgia), as well as through other delivery channels including the Internet, mobile banking and state-of-the-art call center. The bank, together with its wholly-owned subsidiaries, is organized into the following Strategic Business Units ("SBU"s)– Retail Banking (RB), Corporate Banking (CB), Insurance and Corporate Center (CC) and Business Units ("BU"s)- Wealth Management (WM) andBG Capital.The bank's netloss for Q4 2009 amounted to GEL102.4 million (US$60.7 million) on a consolidated basis, while its equity book value and total assets stood at approximately GEL594.3 million (US$352.6 million) and GEL2,938.4 million (US$1,743.1 million), respectively*. As at 31December 2009, the bank's ROAE and ROAA were -14.1% and -3.3%, respectively.
On 29 November 2006, Bank of Georgia became the first company from Georgia and the second bank from the CIS to list its shares in the form of GDRs on the London Stock Exchange (LSE: BGEO). A benchmark stock on the Georgian Stock Exchange (GSE: GEB), Bank of Georgia has been listed on the GSE since 2001. As of 31 March 2009, the bank was approximately 89% institutionally owned, with the remainder owned by senior management and approximately resident and non-resident retail shareholders. Bank of Georgia remains to be the only Georgian entity to be rated by all three global rating agencies: ‘B/B' from Standard & Poor's, ‘B3/NP' (FC) & ‘Ba3/NP' (LC) from Moody's and ‘B/B' from Fitch Ratings. In March 2008 and 2009, Bank of Georgia received Best Bank In Georgia 2008 and Best Bank in Georgia 2009 Award from Global Finance Magazine.
In July 2005, 2006, 2007, 2008 and 2009 Euromoney, a leading capital markets publication, named Bank of Georgia the winner of the Best Bank in Georgia Award for Excellence.
In December 2006, 2007, 2008and 2009 Bank of Georgia received The Bank of The Year Award for Georgia fromThe Banker, the publication of Financial Times Business Ltd, a member of the Financial Times group of companies.
*consolidated, unaudited, IFRS.
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