British HSBC bank submitted an application to Georgian National Bank for opening its subsidiary bank in Georgia.

Mediamax reports referring “News-Georgia” that the procedures of granting the corresponding license to HSBC are to be concluded in the nearest future.

The National Bank of Georgia noted that the decision of HSBC on entering the Georgian banking market was made after examining its dynamics during the latest year. HSBC also presented its long-term strategy of activities on the Georgian market to the National Bank.

The President of the Georgian National Bank Roman Gotsiridze stated that the opening of the subsidiary bank of HSBC in Georgia will have a positive influence on the investment climate on the whole and the banking system, which needs additional capital and credit resources.