“These cases weren’t frequent ?before ?the adoption from the law these days a task of separation of non-core assets through the banks is happening. With respect to the shareholders of banks who ?purchase some other type of businesses, nobody contains the to prohibit them from executing it. Possessing non-core assets is banned, and investments in this facilities are manufactured bypassing banks,” he states.
At one time, many businessmen point out that regardless of the official ban, the simple truth is the matter hasn’t changed.
The issue became much more topical after it became known the fact that construction company M2 founded ?by “Bank of Georgia” announced its intention to input the place business – most professionals rate it as being non-core activity.
Some experts feel that ?it’ll hinder other players within the construction industry to create given that the companies linked to the banks have huge advantages.
The incontrovertible fact that M2 enters the place business ?is usually a direct indicator how the banks still hold non-core assets and thereby make trouble for some other construction companies – it isn’t ?given loans because the banks want to the prosperity of?their ?non-core assets, and perceive ?other players sold in the market as rivals. It is just a disaster when nobody ?develops ?near your vicinity aside from commercial banks,” they are saying.
Experts think that your choice in the National Bank to ?ban non-core assets ?will not be fulfilled, because National Bank was limited to verbal recommendation without providing any concrete action to manage the implementation of the decision.
However, no person is really so skeptical.
For example, your head in the Hotels and Restaurants Association Shalva Alaverdashvili hails any action in such a direction.
“The harder different brands and companies will operated with the industry, the higher quality for all those. The belief that “Bank of Georgia” will be one of the players is usually good, since such a strong and stable player create credibility to the project and the industry usually,” he notes.
