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Ivanishvili and Kaladze Banks Playing for Same Side

By Gvantsa Gabekhadze
Friday, November 25
Georgian billionaire, Bidzina Ivanishvili, whose entrance into politics has become one of the most debatable issues in Georgia, has made one more business step. He has bought a 10% share of the famous Georgian footballer Kakhi Kaladze’s Progress bank,

Information regarding the issue was confirmed on November23, by the President of the Ivanishvili-owned Cartu Bank, Nodar Javakhishvili.

As he mentioned, ”the banks have agreed on deep collaboration. If necessary we will assist Progress Bank to prepare personnel and help it financially. “

However, Javakhishvili also mentioned that soon after the memorandum was signed between the banks, the National Bank started checking Progress Bank.

The information regarding the National Bank was also confirmed by the main bank leadership, however no details were given as, ”this information is confidential, thus we are not giving more information,” the press service of the bank told Georgian news agency IPN.

It should also be mentioned that the National Bank of Georgia is still checking Cartu Bank. The NBG claims that banking issues should not be politicized, however, the majority of opposition parties and analysts are sure that the checking is related to Ivanishvili’s entrance into politics.

Georgian economic analysts also think that what is going on regarding Cartu Bank and in general with the banking system, will have negative effects on the sphere.