Georgia 10% PA 12 month term deospit.

jabba42

Got this from the bank today.

For Gel rates are:
12 month Time Term Deposit in GEL - 10%
24 month Time Term Deposit in GEL - 10.25%
There is no chance of Bankrupcy, because as i have already mentioned the regulations of National Bank of Georgia is stricter than Basel 2, they control us every day, Georgian Banks are even much stronger for today than European or American Banks.

Pretty stable against the USD for the past 2 years.

Onawingandaprayer

Thanks but think I'll pass on that one....:eek:

veryintrigued

A deospit sounds about right.

jabba42

veryintrigued wrote: »

A deospit sounds about right.

Was in a rush, spelling Nazi

He who dares wins Rodney

http://www.xe.com/currencycharts/?from=GEL&to=USD&view=5Y

dunstonh

There is no chance of Bankrupcy

They said the same with Lehmans.

If they are so strong, why are the terms at the junk/desperation end?

IronWolf

What bank is it? And what currency is it in?

jabba42

dunstonh wrote: »

They said the same with Lehmans.

If they are so strong, why are the terms at the junk/desperation end?

Russians can invade, but it has been stable for the last 2 years.

Also they have 30% reserve requirements roughly 7 times the UK which makes me feel more comfortable.

jabba42

IronWolf wrote: »

What bank is it? And what currency is it in?

http://www.tbcbank.ge/en/private/ in local currency, Pretty much pegged to the USD. The euro looks a bit more wild.

IronWolf

jabba42 wrote: »

http://www.tbcbank.ge/en/private/ in local currency, Pretty much pegged to the USD. The euro looks a bit more wild.

Interesting. I have an investment in a Ukranian company and know that their interest rates are around 10% even though they have a solid cash position, even the loans denominated in USD.

I took a look at their latest published financial results.
http://www.tbcbank.ge/ir/storage/uploads/mxcontent/schema_d2/common/files/TBC%20Bank%2031%20December%202011_FINAL%202.pdf
Their accounts are done by PWC, but someone has hand written PriceWaterhouseCoopers at the bottom, never seen that before...

They also have 500m of bank debts, don't know if they are current or not as the accounts aren't separated, I thought that was required under IFRS?

Think I'll steer clear of this one

alanq

IronWolf wrote: »

what currency is it in?

GEL=Georgian Lari

jabba42

IronWolf wrote: »

Interesting. I have an investment in a Ukranian company and know that their interest rates are around 10% even though they have a solid cash position, even the loans denominated in USD.

I took a look at their latest published financial results.
http://www.tbcbank.ge/ir/storage/uploads/mxcontent/schema_d2/common/files/TBC%20Bank%2031%20December%202011_FINAL%202.pdf
Their accounts are done by PWC, but someone has hand written PriceWaterhouseCoopers at the bottom, never seen that before...

They also have 500m of bank debts, don't know if they are current or not as the accounts aren't separated, I thought that was required under IFRS?

Think I'll steer clear of this one

I also heard via a UK guy who is living in the Ukraine. Apparently this one is bigger

http://www.procreditbank.ge/index.php?item_id=71&component=STATIC_CONTENT&menu_id=19&sub_menu_id=68

pays less though.