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Georgia's raises minimum supervisory capital to 50 mln lari
May 5, 2017 / 9:36 AM / 6 months ago

Georgia's raises minimum supervisory capital to 50 mln lari

TBILISI, May 5 (Reuters) - Georgia’s central bank raised a minimum supervisory capital for commercial banks to 50 million lari ($20.5 mln) from 12 million lari, the central bank said on Friday.

“This change is aimed at limiting risks for banks with low capitalisation and at encouraging institutions with a solid financial base to enter (Georgia‘s) financial sector,” the bank said in a statement.

The bank said that a new rule was supported by the International Monetary Fund.

$1=2.44 lari Reporting by Margarita Antidze; editing by Andrey Ostroukh

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