National Bank of Georgia granted a license for realization of banking activity to the commercial “Corbank” bank, established by “Abu Dhabi Group” Arabic Investment Company (UAE).

Mediamax reports referring “News-Georgia” that the bank will open in March of 2008 and will become the 21st commercial bank in Georgia.

“Abu Dhabi Group” is one of the largest investment companies in the Middle East. The Group works in different branches - exploration of oil and gas deposits, hotel business, communication, banking and financial services, car industry and construction.

“Corbank” will become the second project of “Abu Dhabi Group” in Georgia. Starting from November 2007, the subsidiary company of “Abu Dhabi Group” “Warid Telecom” has been providing in Georgia telecommunication services on WiMAX technologies.