General provision relating to COVID-19
(WorldNews Politics)

London, 6 April 2020 General provision relating to COVID-19 Bank of Georgia Group PLC (the `Group`) announces that, further to our announcement on 3 April 2020, relating to the National Bank of Georgia`s (the `NBG`) updated supervisory plan for Georgian banking sector, we have now agreed with the NBG that JSC Bank of Georgia (the `Bank`) will create a general provision of GEL 400 million under the Bank`s local accounting basis, which is used for calculation of the Bank`s capital ratios. This represents approximately 3.3% of the Bank`s lending book, and the general provision is expected to be taken in the...