Bank of Georgia Group PLC BOGG announces appointments to management team (3659O)

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RNS Number : 3659O

Bank of Georgia Group PLC

09 June 2022

London, 9 June 2022

Bank of Georgia Group PLC Announces Appointments to the Executive Management Team

Bank of Georgia Group PLC (the "Group") announces appointments to JSC Bank of Georgia's (the "Bank" or "Bank of Georgia") executive management team, with effect from 1 July 2022, subject to necessary regulatory approvals.

David Davitashvili, currently Deputy Chief Operating Officer, will be appointed as Deputy CEO, in charge of Data Analytics.

In addition, Levan Kobakhidze, the Bank's Chief Digital Officer, will now report directly to the CEO and will become a member of the Management Team.

Archil Gachechiladze, Bank of Georgia's CEO, commented: "I am pleased to announce the appointment of David as Deputy CEO to lead the data analytics function at the Bank. David has a track record of strong performance, and during his many years with Bank of Georgia, he has been committed to developing this organisation and its people. I believe he will further strengthen the data analytics function and uncover more opportunities to support teams across the Bank. I am also pleased that Levan Kobakhidze, our Chief Digital Officer, will now directly report to me and become a member of the Management Team. Levan has been instrumental to the Bank's recent digital transformation and has delivered great results. He will continue to play a key role on the digital front together with the rest of our team."

About David Davitashvili

Mr Davitashvili joined JSC Bank of Georgia in 2006 and has held various senior positions, including as Head of Internal Audit from 2009 to 2017, covering both banking and non-banking subsidiaries, and as Deputy Chief Operating Officer, overseeing various areas, including collections end-to-end process, cash operations, procurement and information security. Mr Davitashvili holds Bachelor's and Master's degrees in management and microeconomics from Tbilisi State University and an Executive MBA from Bayes Business School (formerly Cass Business School).

About Levan Kobakhidze

Mr Kobakhidze joined JSC Bank of Georgia in 2018 as Head of Start-ups Development and became Chief Digital Officer in 2019, leading the development of the Bank's mobile and internet banking platforms. Prior to joining the Bank, he held various positions at other companies, including as Chief Digital Officer at a telecommunications company and as head of business development at a venture capital firm, managing various fin-tech startups. Mr Kobakhidze graduated from Tbilisi State University with Bachelor's and Master's degrees in business administration, and he also holds a Master's degree in global strategy and leadership from Hult International Business School.

Name of authorised official of issuer responsible for making notification: Nini Arshakuni, Head of Investor Relations

About Bank of Georgia Group PLC

Bank of Georgia Group PLC ("Bank of Georgia Group" or the "Group" and on the LSE: BGEO LN) is a UK incorporated holding company. The Group mainly comprises: a) retail banking and payment business (Retail Banking); and b) corporate banking and investment banking operations (Corporate and Investment Banking) in Georgia. JSC Bank of Georgia ("Bank of Georgia", "BOG", or the "Bank"), a systematically important and leading universal bank in Georgia, is the core entity of the Group. The Bank is a leader in the payments business and financial mobile application, with strong retail and corporate banking franchises. In line with our digital strategy, the Group focuses on expanding technological and advanced data analytics capabilities to offer more personalised solutions and seamless experiences to our customers. Employee empowerment, customer satisfaction, and data-driven decision-making, together with the strength of the banking franchise, are key enablers of the Group's sustainable value creation. By building on its competitive strengths and uncovering more opportunities, the Group is committed to delivering strong profitability sustainably and maximising shareholder value. The Group expects to benefit from the growth of the Georgian economy, and through both its Retail Banking and Corporate and Investment Banking operations, it aims to deliver on its strategy and its key medium-term objectives at least 20% return on average equity (ROAE) and c.10% growth of its loan book.

 
 JSC Bank of Georgia has, as of the 
  date hereof, the following credit 
  ratings: 
 
      Fitch Ratings        'BB-/B' 
      Moody's              'Ba2/NP' 
 

For further information, please visit www.bankofgeorgiagroup.com or contact:

 
 Archil Gachechiladze    Michael Oliver    Sulkhan Gvalia    Nini Arshakuni 
 CEO                     Adviser to the    CFO               Head of Investor 
                          CEO                                 Relations 
                                                             [phone] 
 [phone]        [phone]  [phone]   (7515) 
 [e-mail]   [e-mail]  [e-mail]    [e-mail] 
 

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June 09, 2022 10:00 ET (14:00 GMT)