sosiete Jeneralis

Annual Report 2011
LETTER FROM THE CHAIRMAN
OF THE SUPERVISORY COUNCIL
The banking sector is usually the first to react
to social and political situation in the country.
Despite the fact that during the post-crisis
period and all through the last year operation
of Georgian commercial banks was
influenced by multiple internal and external
factors, it can be stated with confidence that
the banks have overcome the global crisis
thanks to their robust liquidity and capital,
as well as support of international financial
institutions.
This was proven by the data published by
the National Bank of Georgia according to
which the net profit of the banking sector increased
up to GEL 323 million in 2011 (compared
to GEL 156.3 in 2010), while the share
of foreign capital in the total issued shareholder
capital was 81.0%. The current high
liquidity and increasing profit guarantee that
the banking sector will fuel the country’s future
economic growth.
Forecasts made by analysts before the financial
crisis completely differed from the
reality resulting from the crisis. Thus, our
future greatly depends on the changing and
unstable world. At this stage, correct and
adequate understanding of the past period
will serve as a basis for designing well-considered
and timely actions that would meet
the needs of the whole banking sector, as
well as Bank Republic and its clients.
The year 2011 was marked with many important
changes at Bank Republic. Triggered
by the tough competition in the Georgian
banking sector the Bank’s management has
been changed, human resources have been
retrained and new highly qualified staff has
been hired. What remained unchanged was
the tradition – devotion to clients, integrity
and constant strive for innovations, resulting
in the Bank’s quick progress and growing
market share.
Throughout the whole year, intensive work
has been going on to offer clients new products
and better conditions: interest rates for
deposits and loans became more favorable
and acceptable for clients and the service
sameTvalyureo sabWos Tavmjdomaris mimarTva
sabanko seqtori yvelaze adre reagirebs qveyanaSi
Tu msoflioSi mimdinare nebismier socialur da
politikur movlenaze. miuxedavad imisa, rom gasul
welsac iseve, rogorc krizisis Semdgom wleb-
Si, saqarTvelos komerciul bankebs kvlav uamravi
saSinao Tu sagareo faqtoris gaTvaliswinebiT
uxdebodaT funqcionireba, Tamamad SeiZleba iTqvas,
rom qarTulma bankebma globaluri finansuri
krizisi daZlies, rac maTi maRali likvidurobisa
da kapitalis, aseve saerTaSorio finansuri institutebis
xelSewyobis Sedegia.
amis dasturia is, rom saqarTvelos erovnuli
bankis monacemebiT sabanko seqtoris wminda mogeba
2011 wels 323 mln. laramde gaizarda (2010 wels
156.3 milioni lari), ucxouri kapitalis monawileobam
ki bankebis mTlian ganaRdebul sawesdebo
kapitalSi 81.0%-i Seadgina. sabanko sistemis dRes
arsebuli maRali likviduroba da mogebis gazrdili
maxasiaTeblebi garantiaa imisa, rom sabanko
seqtori mniSvnelovnad daexmareba qveynis samomavlo
ekonomikur zrdas.
finansur krizisamde analitikosebis prognozebi
sruliad gansxvavdeboda im realobisagan, romelic
am krizisis Sedegad miviReT. amitom is, Tu
ras unda velodeT momavalSi, isev msoflioSi arsebul
cvalebad da aramdgrad garemozea damokidebuli.
am etapze ki ganvlili periodis swori da adekvaturi
gaazreba mniSvnelovani safuZveli iqneba
imisa, rom operatiulad gadaidgas kargad gaTvlili
da rogorc qveynis sabanko seqtoris, ise bank
„respublikis“ da misi klientebis moTxovnebze
misadagebuli seriozuli nabijebi.
THE WORD OF MANAGEMENT
menejmentis mimarTva
2011 wels bank „respublikaSi“ mravali mniSvnelovani
cvlileba ganxorcielda. saqarTvelos
sabanko bazarze ukompromiso konkurenciis pirobebSi
Seicvala bankis menejmenti, moxda adamianuri
resursebis gadamzadeba da maTi axali profesionalebiT
Sevseba. ucvleli darCa tradicia
_ momxmareblis erTguleba, profesionalizmi,
erTianoba da mudmivi swrafva siaxleebisaken.
mTeli wlis ganmavlobaSi intensiurad mimdinareobda
momxmareblebisaTvis axali produqtebis
SeTavazeba da arsebulis pirobebis gaumjobeseba,
rac gamoixateboda anabrebze da sesxebze procentebis
maTTvis sasargeblod da misaRebad manipulirebaSi
da momsaxurebis xarisxis kidev ufro
gaumjobesebaSi. aseve, sacalo momsaxurebis
kvaldakval mniSvnelovnad gaaqtiurda korporaciuli
mimarTuleba. iuridiuli pirebisaTvis
SeTavazebul iqna mimzidveli pirobebi da momgebiani
proeqtebi. Sedegad, korporaciuli klientebis
raodenoba gaizarda.
gasuli wlebis gamocdilebis gaTvaliswinebam,
gaweuli saqminobis gaanalizebam, marTebulma
strategiulma nabijebma, riskebis adekvaturad
Sefasebam, TiToeuli TanamSromlis Zalisxmevam
da, sabolood, sworad marTvam cxadyo, rom banki
„respublika“ ubrundeba Tavis Cveul pozicias da
damajereblad miiwevs win.
didi madloba minda gadavuxado gundis TiToeul
wevrs. mjera, rom Cveni erTianoba Cveni warmatebis
upirobo safuZvelia.
laSa papaSvili
sameTvalyureo sabWos Tavmjdomare
quality improved even more. In parallel with the development of retail services, work with the corporate sector has also
become more intensive. Legal entities were offered more attractive conditions and projects. This led to the increase of
the corporate client base.
As a result of proper consideration of the past experience, analysis of implemented activities, correct strategic steps,
adequate risk assessment, efforts of each and every employee, and lastly, correct management, it has become clear
that Bank Republic is restoring its usual position and is moving forward with confident steps.
I would like to thank every member of our team. I believe that our unity forms an implicit basis for our success.
Lasha Papashvili
Chairman of Supervisory Council
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