September 29, 2016 9:50 PM ET

Banks

Company Overview of Joint Stock Company Liberty Bank

Company Overview

Joint Stock Company Liberty Bank provides various banking products and services. It accepts deposits from the public and grants credit, transfers payments, exchanges currencies, and provides other banking services to its retail and corporate customers. The company’s Retail Banking segment handles individual customers’ deposits; and provides consumer loans, overdrafts, credit cards facilities, and funds transfer facilities. Its Corporate and SME Banking segment offers loans and other credit facilities, deposits, and current accounts for corporate and institutional customers. The company’s Private Banking segment provides private banking and wealth management services to high net worth individ...

Liberty Tower

74, I. Chavchavadze Avenue

Tbilisi,  0162

Georgia

Founded in 1993

Phone:

995 32 255 55 00

Key Executives for Joint Stock Company Liberty Bank

Executive Chairman
Age: 46
Chief Financial Officer
Deputy Chief Executive Officer and Director of Retai lBanking
Deputy Chief Executive Officer and Director of Corporate & Merchant Banking
Director of Liberty Securities
Compensation as of Fiscal Year 2016.

Joint Stock Company Liberty Bank Key Developments

JSC Liberty Bank Announces Unaudited Consolidated Earnings Results for the Second Quarter and Half Year Ended June 30, 2016

JSC Liberty Bank announced unaudited consolidated earnings results for the second quarter and half year ended June 30, 2016. For the quarter, the company reported net income of $8.4 million, up 8.4% quarter-on-quarter and 23.3% year-on-year. Net interest income was increased by 6.1% quarter-on-quarter and 17.9% year-on-year to $40.1 million. Interest income was increased by 4.4% quarter-on-quarter and 9.9% year-on-year to $70.4 million. Net fee & commission income amounted to $6.6 million. Total operating income reached $47.5 million, an increase of 4.1% quarter-on-quarter and 7.0% year-on-year. The bank reported normalized net operating income of $17.8 million, an increase of 8.3% quarter-on-quarter and a decrease of 2.8% year-on-year. Pre-provision operating profit was increased by 3.1% quarter-on-quarter and decreased by 7.0% year-on-year to $17.1 million. Pre-tax profit increased by 5.9% quarter-on-quarter and 20.3% year-on-year to $9.7 million. The company’s improved financial performance was acknowledged by Fitch Ratings in May 2016, when they upgraded its long-term IDR rating from `B' to `B+'. For the half year, the company reported net income of $16.2 million, up 18.2% year-on-year. Net interest income was increased by 17.5% year-on-year to $77.9 million. Interest income was increased by 10.1% year-on-year to $137.8 million. Net fee & commission income amounted to $12.7 million. Total operating income reached $93.0 million, an increase of 7.6% year-on-year. The bank reported normalized net operating income of $34.3 million, a decrease of 4.8% year-on-year. Pre-provision operating profit was decreased by 5.7% year-on-year to $33.6 million. Pre-tax profit was increased by 16.8% year-on-year to $18.9 million. The company’s improved financial performance was acknowledged by Fitch Ratings in May 2016, when they upgraded its long-term IDR rating from `B' to `B+'.

Joint Stock Company Liberty Bank, Annual General Meeting, Jun 10, 2016

Joint Stock Company Liberty Bank, Annual General Meeting, Jun 10, 2016, at 10:00 Georgian Standard Time. Agenda: To consider the approval of the 2015 audited consolidated IFRS financial statement of the bank; to consider the determination of the record date for the pay-out of dividend for the year 2015; to consider the approval of the CPS dividend pay-out for the year 2015; to consider the approval of the share dividend pay-out for the year 2015; and to consider the other items.

Joint Stock Company Liberty Bank, Special/Extraordinary Shareholders Meeting, Mar 14, 2016

Joint Stock Company Liberty Bank, Special/Extraordinary Shareholders Meeting, Mar 14, 2016, at 10:00 US Eastern Standard Time. Location: Liberty Tower, 6th floor, 74 I.Chavchavadze Avenue Tbilisi, 0162 GE United States Agenda: To consider determination and approval of the annual remuneration of the independent member of the Supervisory Board, Martin Paul Graham, in the amount of GEL 260,000 gross, with such annual remuneration payable monthly in twelve equal installments simultaneously with the monthly payroll run of the Bank.

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Recent Private Companies Transactions

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No transactions available in the past 12 months.
 

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