Georgia’s securities market has prospects of development,
including with the support of banks, Archil Gachechiladze, General Director of
Bank of Georgia, says.
In his opinion, the situation on the stock market is more
complicated which can be developed only in case of the rapid economic growth.
“I believe that Georgia’s securities market has the prospect of
development, including with the support of commercial banks. Tomorrow of the
banking system is such that risks should be distributed among investors, wealthy
people who want to pour their money in
business. Bonds are good in both directions and we are set to actively support the growth of
the bond market. What is good for business cannot be bad for banks, we welcome
all activities aimed at forming this
market segment, ” the bank CEO explains.
He notes that the
widespread opinion as if banks are the main obstacle to the development of the securities
market is not true that consider alternative sources of financing as a threat
to their incomes.
“I was directly involved in the creation of a stock exchange, in the development of which
millions were invested. The National Bank helped us develop the local bond market, and is now ready to do everything
to boost the development of the securities market. Given that the National Bank
regulates commercial banks, its willingness to boost the securities market excludes any resistance from commercial banks. While the situation on the stock market is more complicated because it can
exist only in a progressing economy, ”Archil Gachechiladze says.