Mission Statement, Vision, & Core Values (2025) of Bank of Georgia Group PLC.

An Overview of Bank of Georgia Group PLC

General Summary of Bank of Georgia Group PLC

Bank of Georgia Group PLC, founded in 1994, is one of the largest and leading financial institutions in Georgia. The bank provides a comprehensive suite of products and services, including retail banking, corporate banking, investment banking, and insurance. As of 2024, Bank of Georgia Group has a vast network of over 280 branches and employs more than 5,500 people.

As of the end of 2023, Bank of Georgia Group reported total assets amounting to GEL 25.4 billion (approximately $8.2 billion). Its retail banking segment is a major contributor to the bank's growth, catering to a diverse customer base with various financial products, including loans, deposits, and credit cards. The bank's total sales in 2023 reached approximately GEL 2.4 billion (around $770 million), representing a significant increase from previous years.

Company's Financial Performance in the Latest Financial Reports

In its most recent financial report for Q3 2023, Bank of Georgia Group demonstrated remarkable performance, showcasing a record-breaking revenue of GEL 1.1 billion (approximately $353 million), marking an increase of 20% year-over-year. This growth was largely driven by increased lending activity and robust customer deposits. The bank's net profit for the same period reached GEL 300 million (around $96 million), reflecting a strong return on equity of 19.4%.

The key growth drivers included:

• Retail banking revenue which surged by 25% to reach GEL 800 million (approximately $256 million)
• Corporate banking revenue that increased by 15% to approximately GEL 450 million (around $144 million)
• Investment banking and brokerage services that contributed GEL 150 million (about $48 million), up 10% from the previous year

Introduction to Company as a Leader in the Industry

Bank of Georgia Group PLC stands out as a leader within the financial services industry, not just in Georgia but in the South Caucasus region as well. The bank's successful expansion into various market segments, coupled with innovative product offerings, has established its reputation as a trustworthy financial partner for both individuals and businesses. The successful execution of its growth strategy has positioned the bank to capitalize on Georgia's economic development, thus enriching its customer experience while achieving sustainable profitability.

With a focus on technology and innovation, Bank of Georgia Group is at the forefront of digital banking in the region, continually improving its services to meet evolving customer demands. The bank's commitment to sustainability and corporate responsibility further enhances its standing as a leading institution. For those interested in why Bank of Georgia Group remains at the pinnacle of the industry, further exploration of their operational strategies and market initiatives will provide deeper insights.

Mission Statement of Bank of Georgia Group PLC

Mission Statement of Bank of Georgia Group PLC

The mission statement of Bank of Georgia Group PLC is a critical element that defines the company's purpose and direction. It is designed to provide a clear pathway for the organization's long-term goals while emphasizing its commitment to stakeholders. The mission statement embodies the intention to deliver value through quality services and sustainable practices.

Core Component 1: Customer Centricity

The first core component of the Bank of Georgia's mission is customer centricity. This reflects a commitment to understanding and meeting the diverse needs of customers. In 2022, Bank of Georgia reported a 45% increase in customer satisfaction, measured through customer experience surveys.

The bank launched several initiatives aimed at improving customer service efficiency, such as the implementation of a new digital banking platform that resulted in a 30% reduction in transaction times. Additionally, the customer base grew by 12% year-on-year in 2023, underlining the bank's focus on customer retention and acquisition.

Core Component 2: Innovation and Technology

The second core component emphasizes innovation and the use of technology. Bank of Georgia has invested heavily in digital transformation, with around €50 million allocated in 2023 for technology upgrades and fintech partnerships. This investment aims to enhance service delivery and operational efficiency.

In 2024, the bank aims to increase digital transaction volume by 20%, reinforcing its mission to provide cutting-edge banking solutions. For instance, the introduction of AI-driven financial advisory services attracted over 15,000 users within the first quarter of launch, showcasing the impact of innovation on service offerings.

Core Component 3: Sustainable Growth

The third core component is a commitment to sustainable growth, which includes financial stability and environmental responsibility. Bank of Georgia reported a 25% increase in net profit in 2022, reflecting its robust financial health while maintaining a focus on sustainability initiatives.

In 2023, the bank also pledged to reduce its carbon footprint by 40% by 2030, committing to eco-friendly financing options. The alignment of financial performance with sustainability is further emphasized by the issuance of green bonds amounting to €100 million in 2022, fostering investments in renewable energy projects.

Vision Statement of Bank of Georgia Group PLC

Vision of Bank of Georgia Group PLC

The vision statement of Bank of Georgia Group PLC outlines its commitment to being the leading bank in the region, aspiring to enhance the banking experience for its customers while driving economic growth.

Leadership in Banking

Bank of Georgia aims to establish itself as the leading financial services provider in Georgia and the Caucasus region. In 2023, it held a market share of approximately 29% in the retail banking sector and a 36% share in corporate banking.

Customer-Centric Approach

Central to the bank's vision is a customer-centric approach, emphasizing the importance of tailoring services to meet the unique needs of clients. In 2023, customer satisfaction ratings reached a high of 89%, in a survey conducted across its service channels.

Innovation and Technology

Bank of Georgia is committed to leveraging technology and innovation to enhance its services. In 2022, the bank invested over €20 million in digital banking solutions, leading to a 30% year-over-year increase in mobile banking users.

Sustainable Growth

The vision also underscores a commitment to sustainable growth. As of 2023, Bank of Georgia reported an annual net profit of €153 million, showcasing robust performance while adhering to responsible banking practices.

Enhancing Regional Economy

Bank of Georgia sees itself as a key player in enhancing the regional economy, with an aim to support local businesses. In 2023, it provided financing to over 10,000 small and medium-sized enterprises (SMEs), contributing to employment and economic stability.

Commitment to Diversity and Inclusion

Another vital component of the vision is a strong commitment to diversity and inclusion within the workplace. As of 2023, women accounted for 47% of its workforce and 35% of senior management positions, highlighting the bank's focus on equitable representation.

Core Values of Bank of Georgia Group PLC

Integrity

Integrity is a cornerstone value for Bank of Georgia Group PLC, emphasizing accountability and transparency in all operations. This commitment fosters trust among clients, stakeholders, and employees.

In 2023, Bank of Georgia reported a net profit of GEL 469 million, showcasing the importance of ethical financial practices. The bank has implemented a Code of Conduct that guides employee behavior, ensuring compliance with regulatory requirements.

In 2024, Bank of Georgia continues to host quarterly workshops focused on ethical decision-making, emphasizing its dedication to integrity. These workshops have seen participation from over 1,500 employees.

Customer Centricity

Customer centricity focuses on putting clients at the heart of the business. Bank of Georgia prioritizes understanding and meeting customers' needs, enhancing overall satisfaction and loyalty.

The bank launched a new mobile banking app in late 2023, resulting in a 30% increase in active mobile users. Customer feedback surveys indicate a satisfaction rate of 92% regarding the app's functionality.

In 2024, Bank of Georgia introduced a personalized financial advisory service that has catered to over 10,000 clients, demonstrating its commitment to enhancing customer experience.

Innovation

Innovation is vital for maintaining competitiveness in the banking sector. Bank of Georgia fosters a culture that encourages creativity and the development of new solutions.

The bank invested GEL 25 million in technology for 2024, highlighting its commitment to digital transformation. Recent innovations include the launch of AI-powered chatbots that have reduced customer service response times by 40%.

Additionally, Bank of Georgia’s innovation lab has incubated 15 new fintech startups since its inception in 2022, providing funding and mentorship to support technological advancement.

Community Engagement

Community engagement reflects the bank’s dedication to contributing positively to society. Bank of Georgia actively participates in initiatives that support local development.

In 2023, the bank contributed GEL 3 million to various community projects, including education and health initiatives. The bank's 'Support Local' campaign has assisted over 100 small businesses in 2024.

Moreover, Bank of Georgia's employee volunteer program recorded over 15,000 hours of community service last year, underscoring its commitment to social responsibility.

Excellence

Excellence underscores the bank’s mission to provide the highest quality of service. This value drives the organization towards continual improvement in all aspects of its operations.

Bank of Georgia achieved a return on equity (ROE) of 20% as of the end of 2023, reflecting operational efficiency and effective management practices. The bank has also received multiple awards for customer service excellence, including recognition from regional banking associations.

The commitment to excellence is further demonstrated through its employee training programs, which saw an investment of GEL 10 million in 2023, aimed at developing skills that enhance service quality.