Assets of ₾13 million, losses of ₾1.6 million - Lasha Papashvili's "Hash Bank" reveals its first financial report

The new digital bank "Hash Bank" publishes its first financial report. According to the financial indicators submitted to the National Bank, the bank's assets amount to 13 million GEL, liabilities to 216,816 GEL, the share capital to 16.6 million GEL.

At the end of June of this year, the administrative expenses of "Hash Bank" stood at 2.1 million GEL, of which 1.7 million GEL is the cost of labor compensation. The bank's loss at the moment is 1.6 million GEL.

The Chairman of the Supervisory Board of "Hash Bank" is businessman Lasha Papashvili. The bank's shareholders are: 1. Volodymyr Nosov: citizen of Ukraine, 103,950 shares, 50% of the authorized capital; 2. Sulkhan Papashvili, citizen of Georgia, 63,403 shares, 30.5% of the authorized capital; 3. Lasha Papashvili, citizen of Georgia, 40,541 shares, 19.5% of the authorized capital. 4. Nana Keburia: citizen of Georgia, 2,100 preferred shares (without voting rights). 5. The chairman of the bank's board of directors is Giorgi Chanadiri,the bank's board of directors also includes Giorgi Keshelashvili and Irakli Chakhnashvili.

According to the decision of the National Bank of Georgia, a Banking activity license was issued to JSC "Hash" in November 2023. Access to various banking activities will be granted gradually, following the fulfillment of the requirements set by the National Bank of Georgia. The license, defined as a "Digital bank license" is intended to increase customer access and introduce cutting-edge financial technologies to the local market.