17 August 2019,   17:57
Giorgi Kadagidze responds to statement of Mamuka Khazaradze about the pressure on TBC Bank in 2007

Giorgi Kadagidze, the former president of the National Bank of Georgia responded to Mamuka Khazaradze"s statement regarding the attack on TBC Bank in 2007.

It is about the part of Khazaradze"s statement, where he says that in 2007 TBC Bank was pressured and was limited in issuing credits.

Giorgi Kadagidze calls the statement of the Chairman of the Supervisory Board of TBC Bank False.

Kadagidze"s statement is unchangeable:

"In 2007 TBC Bank practically stopped major activities - issuing credits," said the chairman of the Bank"s Supervisory Board.

"Only stubborn numbers without comment

"TBC Bank"s credit investment as of 31 December 2006 - 594 million lari, as of 31 December 2007 - GEL 1,173 million (annual growth 97%).

"I have repeatedly said, since President Shevardnadze"s period, big business has never had problems to lobby their interests with any government (excluding individual cases).

"Here"s those whose voice has never been heard, this is a small and medium business. For men, for whom 20, 50 and 100 thousand GEL fine and fines were equal to bankruptcy.

"As regards to the reaction of investors on the results of the first round of elections, the diagrams show the demand for Georgian companies on the international exchanges and the price increase, which together with other issues clearly indicates the general optimization of investors."