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BGEO Group unit to acquire business portfolio from ProCredit Bank Georgia

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BGEO Group unit to acquire business portfolio from ProCredit Bank Georgia

JSC Bank of Georgia agreed to acquire a micro- and small-business portfolio from JSC ProCredit Bank Georgia.

The acquisition will add about 2,400 clients and a net value of about 120 million Georgian lari in loans to the BGEO Group Plc unit's banking loan portfolio. Terms of the deal were not disclosed.

As of Dec. 12, US$1 was equivalent to 2.64 Georgian lari.