Bank of Georgia Announces Appointment of Deputy CEO

Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that Sascha Ternes has been appointed as Deputy CEO of the Bank in charge of special projects.

“I am excited to welcome Sascha to our team. Sascha’s background encompasses in-depth experience in senior executive positions across a wide range of countries and I look forward to the contributions he will make in his new role,” commented Irakli Gilauri, Chief Executive Officer.

Prior to joining Bank of Georgia, Sascha was the member of management board of ProCredit Bank Georgia from 2007, where he initially served as CFO and then as CEO. Prior to joining ProCredit, he held executive positions for 13 years in a German Technology Group which focused on international development and investment, where he was responsible for the implementation and supervision of numerous operations in 10 countries, including assignments to Central and Eastern Europe and the Middle East. A citizen of Germany, Sascha has a background in finance and business administration and volunteers as a Board Member of the German Business Association in Georgia and Armenia as well as a Founder and Chairman of the Board of the German International School Tbilisi. Sascha holds a honorary doctorate, affirmed by the German Ministry of Education & Science.