Bank of Georgia signs USD 50 mln trade finance facility with Citi

Wednesday 14 August 2019 13:45 CET | News

Bank of Georgia Group has announced that its bank subsidiary, JSC Bank of Georgia, has signed a one-year USD 50 mln trade finance facility with Citi.

The FTSE 250 company said the facility had been arranged under the ‘Continuing Agreement for Reimbursement of Trade Advances’ (CARTA), signed with Citi in 2011, and was the third successful transaction between Citi and Bank of Georgia under that agreement.

It said the facility aimed to enhance the banks offering of trade finance solutions for the Georgian corporate and small and medium sized (SME) sectors.

Bank of Georgia Group PLC is a UK incorporated holding company which, through its subsidiaries, carries out retail banking and payment services, and corporate investment banking and wealth management operations in Georgia, and banking operations in Belarus.

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Keywords: Bank of Georgia, Trade Finance Facility, Citi, Citi bank, bank subsidiary, trade finance, Georgia, Belarus, Europe, payments , retail banking, B2B payments
Countries: World