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JSC Bank of Georgia (BGEO)

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Friday 09 October, 2009

JSC Bank of Georgia

Bank of Georgia selects CRIF Decision Solutions...

Bank of Georgia selects CRIF Decision Solutions as the system provider for its loan origination platform

Bank of Georgia

JSC Bank of Georgia (LSE: BGEO, GSE: GEB) (the “Bank”), Georgia’s leading universal bank, announced today that it has signed an agreement with CRIF Decision Solutions to provide and develop the Bank’s loan origination system.

The Bank, together with its banking subsidiaries in Ukraine and Belarus, will rely on StrategyOne and CreditFlow as the cornerstones to automate and optimize their retail application processes. StrategyOne, the CRIF Decision Solutions specialized business rules platform, will enable Bank of Georgia to identify the right targets, increase customer loyalty, boost sales and profits, manage risk and implement business and regulatory policies by automating and standardizing its decision-making processes. CreditFlow, the flexible and innovative credit business process management suite, will help automate internal workflows by orchestrating manual activities and business rule execution, connecting participants, and integrating all systems involved so to meet its end-to-end origination process needs.

“I am pleased that by selecting CRIF Decision Solutions we have taken yet another step towards our goal of achieving operational efficiency through technological improvements. This state-of-the-art technology available on the market will allow us capture cross-border synergies through centralized decision-making from Georgia and will both enhance the time to market while keeping risks under control. In addition, through the utilization of CRIF Decision Solutions’ platform, Bank of Georgia will not only streamline its client acquisition processes but also have a flexible and robust suite of tools to support customer management processes and extend to other segments like Small and Medium Enterprises”, noted Irakli Gilauri, Chief Executive Officer.

About Bank of Georgia

Bank of Georgia is the leading Georgian bank offering a broad range of corporate and investment banking, retail banking, wealth management and insurance services to its customers in Georgia, Ukraine and Belarus. Bank of Georgia is the largest bank in Georgia by assets, loans, deposits and equity, with 33.7% market share by total assets (all data according to the NBG as of 31 July 2009). The bank has 140 branches and over 880,000 retail and more than 146,000 corporate current accounts.

Bank of Georgia has, as of the date hereof, the following credit ratings:

Standard & Poor’s       ‘B/B’
FitchRatings ‘B/B’
Moody’s ‘B3/NP’ (FC) & ‘Ba3/NP’ (LC)

For further information, please visit or contact:

Nicholas Enukidze     Irakli Gilauri     Macca Ekizashvili
Chairman of the Supervisory Board Chief Executive Officer, Supervisory Board Member Head of Investor Relations
+995 32 444 800 +995 32 444 109 +995 32 444 256

This news report is presented for general informational purposes only and should not be construed as an offer to sell or the solicitation of an offer to buy any securities.