Georgia

BEST BANK
Bank of Georgia

Just over a year ago, Bank of Georgia, the largest bank in Georgia, was having substantial credit problems, thanks to the loose credit policies of its management. The shareholders in the bank, including the European Bank for Reconstruction and Development and German development bank DEG, fired the top management and hired Lado Gurgenidze, a former managing director of corporate finance at ABN Amro.

Gurgenidze was hired to clean up the bank and prepare it for a sale.