National Bank Started Inspection of Progress Bank After Bidzina Ivanishvili Purchased 10% of Shares

Businessman Bidzina Ivanishvili purchased 10% of shares in Kakha Kaladze’s Progress Bank. President of Ivanishvili’s Cartu Bank Nodar Javakhishvili told the IPN about it.

He said the cooperation memorandum between Cartu Bank and Progress Bank was signed on November 7.

“We agreed on technical cooperation. In case of necessity we, as more experience bank, will assist them in training of personnel, and share our experience with them. We will also financially assist them when it is needed,” said Javakhishvili.

According to him, soon after the memorandum was signed, the National Bank started inspection of the Progress Bank.

The National Bank confirmed information about the launched inspection in Kaladze’s bank though does not make detailed comments.

“The information is confidential and the National Bank will not comment on it,” the press-center of the Progress Bank told Interpresnews.

IPN