Bank of Georgia

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Deposit Rates:

The Bank of Georgia website describes their terms and conditions of its shorter term (up to 2 years) deposit plans for locals only.

Deposits for foreigners and longer term deposits are only available through the London office. Minimum investment amount is USD 100,000 or equivalent.


Flexible Deposits

Rates as from 25 February 2012 :-

Interest paid end of term
Early withdrawal allowed anytime **
Term
USD, EUR, GBP, RUB, CHF(*), TRY, CAD, AZN, AMD, SEK, NOK, DKK, AUD, JPY, ILS, CZK, PLN, INR, BYR, HUF, SGD, HKD
GEL
Simple
Simple
24 months
6.5%
10.5%
18 months
6.5%
10.5%
12 months
6.6%
10.5%

Interest paid monthly 0.5% less than indicated
* For CHF 1% less than other forex currencies
** Early withdrawal earns a simple 2% p.a. for forex, 3% for GEL.






Certificates of Deposit (No early withdrawal allowed)

Rates as from 25 February 2012 :-

Interest paid end of term
Term
USD, EUR, GBP, RUB, CHF(*), TRY, CAD, AZN, AMD, SEK, NOK, DKK, AUD, JPY, ILS, CZK, PLN, INR, BYR, HUF, SGD, HKD
GEL
Simple
Simple
24 months
8.25%%
12.25%
18 months
7.75%
11.75%
12 months
7.5%
11.5%

Interest paid monthly - 0.5% less than indicated
* CHF earns 1% less than other currencies

  • Print PDF document Bank fees and tariffs.



    • Note: There is no fee or cost from the bank to open an account. There is no broker fee. There is no reduction in interest rate for deposits introduced by us.

    Bank of Georgia obtains a full Premium Listing on London Stock Exchange. They were previously listed since 2006 as a Global Depository Receipt but have re-incorporated as a UK holding company. It is one of only a handful premium listed banks on FTSE, i.e. Barclays, HSBC, Standard Chartered, Lloyds, RBS and Investec.

    Bank of Georgia internationally "BB-" stable rated, with more than 95 % shares institutionally held. Rapidly growing with over USD 2.5 billion assets, accounts for 36 % of the Georgian market by assets and loans and 35 % by client deposits. More than 860,000 retail clients and is also the leading corporate bank.



    Procedure to open account for persons:
    Complete and sign PDF document natural person application and copy of your passport. You can send these two documents scanned by e-mail and then send the originals by post.

    Procedure to open account for foreign legal entities and arrangements:
    Complete PDF document corporate application and following PDF document corporate support documents.


    Why are accounts through their London based office?.
    The Wealth Management Department has representatives in London. This unit has the bank's responsibility to provide services to high net worth international clients, funds and trusts. This unit offers high yield investments, like term deposits or structured deposit products. This unit operates under this name since 2005 in Georgia, since 2009 in Israel and since 2010 in UK.

    Wealth management unit assists clients in Tel-Aviv and in London to invest in Bank of Georgia without traveling to Georgia. Wealth management is the only unit offering longer term maturities.

    Government Deposit Insurance Scheme
    The Georgian banking system has no deposit insurance mechanism in place.
    How safe is Bank of Georgia?
    With a liquidity ratio of over 28% of total assets, a BIS tier one ratio of 22%, total capital ratio 27%, and loans to deposit ratio of 1 x, the Bank of Georgia has the lowest risk balance sheet of any bank in the FTSE.
    Political problem
    South Ossetia is a breakaway region of Georgia, which declared independence in early 90’s. Since then Georgia had very limited, if any, economic relations with this region.
    Military conflict
    The Russian invasion caused a 20% decrease of deposits of Bank of Georgia, which was fully recovered within 3 months from the conflict. Georgian Banks are obliged by the National Bank to keep at least 30% of funds as a reserve. Conflict lasted only 5 days, hence recovery took just couple of months and it was strongly supported by international community – Georgia was entitled to receive circa USD 4.5 billion as financial support, which was nearly 3rd of the Country GDP. To be very specific: total deposit growth at Bank of Georgia as of 3rd quarter, 2011 compared to 3rd quarter of 2008 is circa 74%

    PresentationInfo on Bank of Georgia

    High Interest Deposit Brokers
    Where past performance is indicative of the future