HSBC Enters Georgian Market

Georgia?s central bank has issued a banking license to HSBC, giving the formal go-ahead for the bank to start operations in Georgia.

Roman Gotsiridze, the president of the National Bank of Georgia (NBG), presented the license to Steven Bennett, the general director of HSBC-Georgia, at a meeting on July 30.

HSBC-Georgia, with headquarters in downtown Tbilisi on Rustaveli Avenue, is due to open its doors in November 2007, according to the central bank.

?The world’s leading financial institution entering the Georgian market signals the increasing interest of foreign investors in Georgia,? Gotsiridze said.

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