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Bank of Georgia buys micro and small business portfolio

13 December 2016 09:12

BGEO Group's banking subsidiary, JSC Bank of Georgia, has agreed to acquire, for cash, a micro and small business portfolio from JSC ProCredit Bank Georgia - currently the third largest bank in Georgia by total assets and market share of gross loans.

The transaction will add c.2,400 micro and small business clients and a net value of c.GEL 120 million loans to the BOG's retail banking loan portfolio.

At 9:12am: (LON:BGEO) BGEO Group share price was -15.5p at 3221.5p

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