IFRS FS_BOG_Group_YE_2011_ENG_FIN georgian

ss `saqarTvelos bankis~ da misi 

Svilobili kompaniebis 

konsolidirebuli finansuri 

angariSgeba 

2011 wlis 31 dekembris mdgomareobiT 

damoukidebeli auditoris daskvnasTan erTad

Sinarsi 

damoukidebeli auditoris daskvna 

finansuri mdgomareobis konsolidirebuli angariSgeba............................................................................................2 

mogeba-zaralis konsolidirebuli angariSgeba.................................................................................................................3 

sruli Semosavlis konsolidirebuli angariSgeba.........................................................................................................5 

kapitalSi cvlilebebis konsolidirebuli angariSgeba.............................................................................................6 

fuladi nakadebis konsolidirebuli angariSgeba...........................................................................................................7 

konsolidirebuli finansuri angariSgebis TandarTuli SeniSvnebi 

1. ZiriTadi saqmianoba....................................................................................................................................................................9 

2. momzadebis safuZveli............................................................................................................................................................10 

3. saaRricxvo politikis mimoxilva................................................................................................................................12 

4. mniSvnelovani saaRricxvo Sefasebebi da daSvebebi......................................................................................35 

5. biznes gaerTianebebi...............................................................................................................................................................38 

6. informacia segmentebis Sesaxeb......................................................................................................................................45 

7. fuli da fulis eqvivalentebi.......................................................................................................................................51 

8. moTxovnebi sakredito dawesebulebebis mimarT................................................................................................51 

9. klientebze gacemuli sesxebi..........................................................................................................................................52 

10. moTxovnebi finansuri ijaridan.....................................................................................................................................56 

11. sainvesticio fasiani qaRaldebi....................................................................................................................................57 

12. investiciebi mokavSire sawarmoebSi............................................................................................................................59 

13. sainvesticio qoneba..................................................................................................................................................................61 

14. ZiriTadi saSualebebi.............................................................................................................................................................62 

15. gudvili da sxva aramaterialuri aqtivebi...........................................................................................................65 

16. gadasaxadebi...................................................................................................................................................................................70 

17. sxva gaufasurebis da pirobiT valdebulebebze Seqmnili rezervebi.............................................75 

18. sxva aqtivebi da sxva valdebulebebi........................................................................................................................75 

19. valdebulebebi sakredito dawesebulebebis winaSe.......................................................................................78 

20. valdebulebebi meanabreTa winaSe.................................................................................................................................80 

21. kapitali............................................................................................................................................................................................81 

22. pirobiTi valdebulebebi.....................................................................................................................................................84 

23. wminda Semosavali gasamrjelodan da sakomisiodan.....................................................................................85 

24. wminda sadazRvevo Semosavali........................................................................................................................................85 

25. wminda Semosavali savaluto kursis sxvaobebidan........................................................................................86 

26. xelfasebi da TanamSromelTa sxva Semosavali, zogadi da administraciuli xarjebi...86 

27. mogeba hiperinflaciidan.....................................................................................................................................................87 

28. sxva arasaoperacio Semosavali da sxva arasaoperacio xarjebi.......................................................88 

29. wminda danakargi Sewyvetili operaciebis Sedegad.......................................................................................88 

30. wilobrivi gadasaxadebi.......................................................................................................................................................93 

31. riskebis marTva............................................................................................................................................................................96 

32. finansuri instrumentebis samarTliani Rirebuleba..................................................................................110 

33. finansuri aqtivebisa da valdebulebebis vadianobis analizi...........................................................114 

34. dakavSirebul mxareTa ganmartebiTi SeniSvnebi..............................................................................................115 

35. kapitalis adeqvaturoba.....................................................................................................................................................117 

36. angariSgebis periodis Semdgomi movlenebi........................................................................................................118

ss `saqarTvelos banki” da Svilobili kompaniebi konsolidirebuli finansuri angariSgeba 

finansuri mdgomareobis konsolidirebuli angariSgeba 


(aTas larSi) 

damoukidebeli auditoris daskvna 

ss `saqarTvelos bankis” aqcionerebsa da direqtorTa sabWos – 

Cven CavatareT ss `saqarTvelos bankis~ da misi Svilobili kompaniebis TandarTuli 

konsolidirebuli finansuri angariSgebis auditi, romelic moicavs 2011, wlis 31 

dekembris mdgomareobiT momzadebul finansuri mdgomareobis konsolidirebul 

angariSgebas, aseve mogeba-zaralis konsolidirebul angariSgebas, sruli Semosavlis 

konsolidirebul angariSgebas, kapitalSi cvlilebebis konsolidirebul angariSgebas 

da fuladi nakadebis konsolidirebul angariSgebas amave TariRebiT dasrulebuli 

wlebisaTvis, iseve rogorc mniSvnelovani saaRricxvo politikis mimoxilvas da sxva 

ganmartebiT SeniSvnebs. 

xelmZRvanelobis pasuxismgebloba finansur angariSgebaze 

xelmZRvaneloba pasuxismgebelia finansuri angariSgebis saerTaSoriso standartebis 

Sesabamisad winamdebare konsolidirebuli finansuri angariSgebis momzadebasa da 

samarTlian wardgenaze da xelmZRvanelobis mier gansazRvrul Sida kontrolze, 

romelic saWiroa winamdebare konsolidirebuli finansuri angariSgebis 

mosamzadeblad da romelSic ar iqneba uneblie Tu ganzrax daSvebuli arsebiTi 

uzustobebi da Secdomebi. 

auditoris pasuxismgebloba 

Cven valdebulni varT, Cvens mier Catarebuli auditis safuZvelze gamovTqvaT mosazreba 

aRniSnul konsolidirebul finansur angariSgebaze. auditi CavatareT auditis 

saerTaSoriso standartebis Sesabamisad. aRniSnuli standartebi moiTxovs eTikuri 

normebis dacvas, agreTve, auditis imgvarad dagegmvasa da Catarebas, raTa 

uzrunvelyofil iqnas garantia, rom konsolidirebuli finansuri angariSgeba ar 

Seicavs mniSvnelovan uzustobas. 

auditi gulisxmobs iseTi procedurebis Catarebas, romlebic gamiznulia mtkicebulebis 

mopovebaze finansur angariSgebaSi moyvanili Tanxebisa da monacemebis Taobaze. 

SerCeuli meTodika damokidebulia auditorTa mosazrebaze, maT Soris, arsebiTi 

uzustobis riskis Sefasebis Taobaze, miuxedavad imisa, iqneba msgavsi uzustoba 

daSvebuli uneblied Tu ganzrax. imisaTvis, rom SeimuSaos viTarebisa da garemoebis 

Sesatyvisi procedurebi, riskebis Sefasebisas auditori iTvaliswinebs Sida kontrolis 

arsebul sistemebs, romlebic qmnis Sesabamis pirobebs organizaciis mier finansuri 

angariSgebis momzadebisa da samarTliani wardgenisaTvis. aRniSnulis mizans ar 

warmoadgens mosazrebis gamoxatva organizaciis Sida kontrolis sistemebis 

efeqturobaze. auditi aseve moicavs xelmZRvanelobis mier gamoyenebuli saaRricxvo 

politikis da saaRricxvo Sefasebebis sisworisa da mTlianad finansuri angariSgebis 

wardgenis Sefasebas. 

Cven gvjera rom auditis procesSi mopovebuli rwmuneba sakmaris da saTanado safuZvels 

gvaZlevs auditoruli daskvnisaTvis. 

daskvna 

Cveni azriT, konsolidirebuli finansuri angariSgeba samarTlianad asaxavs ss 

`saqarTvelos bankis” da misi Svilobili kompaniebis finansur mdgomareobas 2011 wlebis 

31 dekembris mdgomareobiT, finansuri Sedegebisa da fuladi nakadebis CaTvliT amave 

TariRiT dasrulebuli wlisaTvis, finansuri angariSgebis saerTaSoriso standartebis 

Sesabamisad. 

23 marti 2012 

TandarTuli SeniSvnebi gverdebze 8-94 warmoadgens winamdebare konsolidirebuli finansuri 

angariSgebis ganuyofel nawils 

1


finansuri mdgomareobis konsolidirebuli angariSgeba 


(aTas larSi) 

SeniSvna 2011 2010 2009 

aqtivebi 

fuli da fulis eqvivalentebi 7 628,731 611,584 357,889 

moTxovnebi sakredito dawesebulebebis mimarT 

sainvesticio fasiani qaRaldebi:: 

8 289,530 116,469 64,620 

- gasayidad arsebuli 11 419,576 294,940 19,590 

- dafarvis vadamde flobili 11 – 21 249,196 

menabreebze gacemuli sesxebi 9 2,553,442 2,351,697 1,661,331 

moTxovnebi finansuri ijaridan 10 62,919 14,419 16,896 

investiciebi mokavSire sawarmoebSi 12 3,014 5,632 10,323 

sainvesticio qoneba 13 101,686 113,496 79,509 

ZiriTadi saSualebebi 14 348,110 285,852 278,729 

gudvili 15 46,195 69,212 65,777 

sxva aramaterialuri aqtivebi 15 21,222 22,390 19,665 

mimdinare mogebis gadasaxadis aqtivebi 16 8,487 2,247 7,997 

gadavadebuli mogebis gadasaxadis aqtivebi 16 14,852 18,178 15,487 

winaswari gadaxdebi 29,929 23,365 18,140 

sxva aqtivebi 18 137,568 75,420 48,280 

sul aqtivebi 4,665,261 4,004,922 2,913,429 

valdebulebebi 

valdebulebebi meanabreTa winaSe 20 2,735,222 2,026,308 1,273,130 

valdebulebebi sakredito dawesebulebebis winaSe 19 921,172 1,138,927 928,615 

mimdinare mogebis gadasaxadis valdebulebebi 16 1,174 4,251 574 

gadavadebuli mogebis gadasaxadis valdebulebebi 16 36,242 30,901 24,661 

pirobiT valdebulebebze Seqmnili rezervebi 17, 22 386 4,407 2,126 

sxva valdebulebebi 18 158,462 106,787 85,906 

sul valdebulebebi 3,852,658 3,311,581 2,315,012 

kapitali 21 

saaqcio kapitali 32,878 31,345 31,306 

damatebiT Setanili kapitali 473,732 477,285 478,779 

saxazino aqciebi (3,146) (1,510) (1,677) 

sxva rezervebi 14,478 26,816 24,387 

gaunawilebeli mogeba 254,588 130,314 46,163 

bankis aqcionerebis mTliani 

kapitali 

772,530 664,250 578,958 

kontrolis ar mqoneTa 

wilebi 

40,073 29,091 19,459 

sul kapitali 

812,603 693,341 598,417 

sul valdebulebebi da 

kapitali 

xelmowerilia da gamosacemad nebadarTulia bankis mmarTvelTa sabWos mier 

irakli gilauri aRmasrulebeli direqtori 

daviT vaxtangiSvili finansuri direqtori 

23 marti 2012 

4,665,261 4,004,922 2,913,429 



2


mogeba-zaralis konsolidirebuli angariSgeba 

2011 wlebis 31 dekembris mdgomareobiT 

(aTas larSi) 


saprocento Semosavali 

klientebze gacemuli sesxebi 438,989 389,402 361,176 

sainvesticio fasiani qaRaldebi – dafarvis vadamde 

37,701 7,287 1,276 

flobili 

moTxovnebi sakredito dawesebulebebis mimarT 18,103 9,795 5,037 

moTxovnebi finansuri ijaridan 6,565 4,159 5,844 

sainvesticio fasiani qaRaldebi – gasayidad arsebuli – 12,498 5,725 

saprocento xarji 

501,358 423,141 379,058 

valdebulebebi meanabreTa winaSe (167,294) (114,968) (96,935) 

valdebulebebi sakredito dawesebulebebis winaSe (99,763) (91,829) (91,582) 

(267,057) (206,797) (188,517) 

wminda saprocento Semosavali warmoebuli finansuri 

instrumentebidan wminda mogebamde (danakargamde) 

234,301 216,344 190,541 

wminda mogeba (danakargi) warmoebuli finansuri 

instrumentebidan 

4,984 (7,826) (6,266) 

wminda saprocento Semosavali 239,285 208,518 184,275 

Semosavali gasamrjelodan da sakomisiodan 93,541 74,265 64,599 

gasamrjelo da sakomisio xarji (18,204) (10,845) (9,574) 

wminda Semosavali gasamrjelodan da sakomisiodan 23 75,337 63,420 55,025 

wminda gamomuSavebuli sadazRvevo premiebi 46,396 44,561 45,477 

wminda sadazRvevo moTxovnebi (28,658) (27,898) (30,102) 

wminda sadazRvevo Semosavali 24 17,738 16,663 15,375 

gasayidad arsebuli sainvesticio fasiani qaRaldebidan 

miRebuli wminda mogeba 

1,382 2,006 2,937 

sainvesticio qonebis gadafasebidan miRebuli wminda 

mogeba (zarali) 

uxouri valutidan miRebuli wminda mogeba:: 

13 1,984 350 (4,087) 

– vaWrobidan 45,694 33,651 25,945 

– sakurso sxvaobebi 25 30,747 98 3,138 

sxva saoperacio xarji 29,052 21,927 12,283 

sxva ara-saprocento xarji 108,859 58,032 40,216 

Semosavali 441,219 346,633 294,891 

xelfasebi da sxva TanamSromlisTvis gadaxdebi 26 (119,111) (104,551) (100,505) 

saerTo da administraciuli xarjebi 26 (61,942) (61,000) (57,339) 

cveTa da amortizacia 14,15 (27,254) (27,963) (25,428) 

sxva saoperacio xarjebi (9,324) (6,253) (11,740) 

sxva saoperacio arasaprocento xarjebi (217,631) (199,767) (195,012) 

saoperacio Semosavali sakredito riskis 

xarjamde 

223,588 146,866 99,879 



3




(aTas larSi) 

saoperacio Semosavali saredito riskis 

Rirebulebamde 


223,588 146,866 99,879 

gaufasurebis xarji klientebis kredirebze 

(gaufasurebis xarjebi) finansuri ijaridan 

9 (23,216) (49,886 ) (118,882) 

moTxovnebis gaufasurebis xarjis ukugatareba 

10 (317) 5,775 (6,859) 

gaufasurebis xarjis ukugatareba (xarji) aqtivebsa 

da maargebze 

17 1,337 (3,587) (6,431) 

sakredito riskis Rirebuleba (22,196) (47,698) (132,172) 

wminda saoperacio Semosavali (danakargi) 201,392 99,168 (32,293) 

gaufasurebis xarji gudvilze 15 (23,394) – (73,072) 

gaufasurebis xarji ZiriTad saSualebebze 14 – (435) (3,200) 

sul gudvilisa da ZiriTadi saSualebebis 

gaufasureba 

(23,394) (435) (76,272) 

partniorebis (zarali) mogebis wili 12 (487) 255 (2,649) 

hiperimflaciidan mogeba 27 5,169 – – 

sxva arasaoperacio Semosavali 28 2,903 – 5,308 

sxva arasaoperacio xarjebi 28 (13,529) (545) – 

arasaoperacio (xarji) Semosavali (5,944) (290) 2,659 

mogeba (danakargi) gagrZelebuli operaciebidan 

saSemosavlo gadasaxadidan (xarjidan) 

saSemosavlo gadasaxadis (danaxarji) 

sargebeli 

mogeba (zarali) mogebis gadasaxadi gagrZelebuli 

operaciebidan 

172,054 98,443 (105,906) 

16 (21,125) (15,776) 6,998 

150,929 82,667 (98,908) 

wminda zarali Sewyvetili operaciebidan 29 (15,219) – – 

mogeba (zarali) wlis ganmavlobaSi 135,710 82,667 (98,908) 

gankuTvnili : 

– bankis aqcionerebisadmi 132,531 83,640 (91,370) 

– kontrolis ar mqoneTa wilisadmi 3,179 (973 ) (7,538) 

135,710 82,667 (98,908) 

Semosulebebi (zarali) erT aqciaze, sul: 21 

– bazisuri mogeba (zarali) erT aqciaze 4.4375 2.7846 (2.9963) 

– ganzavebuli mogeba (zarali) erT aqciaze 4.1957 2.7388 (2.9963) 

mogeba (zarali) erT aqciaze gagrZelebuli 

operaciebidan: 

21 

– bazisuri mogeba (zarali) erT aqciaze 4.9470 2.7846 (2.9963) 

– ganzavebuli mogeba (zarali) erT aqciaze 

gagrZelebuli operaciebidan 

4.6499 2.7388 (2.9963) 



4




(aTas larSi) 

mogeba (zarali) gagrZelebuli operaciebis 

wlisTvis 


150,929 82,667 (98,908) 

wminda zarali Sewyvetili operaciebis Sedegad 29 (15,219) – – 


sxva sruli (danakargi) Semosavali gagrZelebuli 

operaciebidan 

– ZiriTadi saSualebebis gadafaseba 14, 29 1,285 (2,859) (1,842) 

– gasayidad arsebuli fasiani qaraldebis 

3,511 6,077 7,533 

gadafaseba 

– gasayidad arsebul fasian qaRaldebze 

realizebuli zarali reklasificirebuli 

konsolidirebul mogeba-zaralis angariSgebaSi 

– savaluto sxvaobebiT gamowveuli mogeba 

(zarali) 

sxva sruli Semosavlebis komponentebTan 

dakavSirebuli mogebis gadasaxadi 

sxva sruli (danakargi) Semosavli gagerZelebuli 

operciebis wlisTvis, gadasaxadebis gareSe 

(1,721) (789) (174) 

21 (52,493) 5,116 (12,145) 

16 5,581 206 (704) 

(43,837) 7,751 (7,332) 

sxva sruli Semosavali Sewyvetili operaciebidan 29 24,254 – – 

sxva sruli Semosavali (danakargi) wlis ganmavlobaSi, 

gadasaxadebis gamoqviTvis gaTvaliswinebiT 

sul sruli Semosavali (danakargi) gagrZelebuli 

operaciebis wlisTvis 

sul sruli Semosavali (danakargi) Sewyvetili 

operaciebis wlisTvis 

sul sruli Semosavali (danakargi) wlis 

ganmavlobaSi 

(19,583) 7,751 (7,332) 

107,092 90,418 (106,240) 

29 9,035 – – 

116,127 90,418 (106,240) 

gankuTvnili : 


– kontrolis ar mqoneTa wilisadmi (4,978) 588 (7,538) 

116,127 90,418 (106,240) 



5


kapitalSi cvlilebebis konsolidirebuli angariSgeba 


(aTas larSi) 

saaqcio 

kapita 

li 

damatebiT 

Setanili kapitali 

ganekuTvneba bankis aqcionerebs 

saxazino 

aqciebi 

sxva 

rezerv 

ebi 

gaunawilebeli 

mogeba jami 

kontrolis 

ar mqoneTa 

wili 

31 dekemberi, 2008 31,253 468,732 (2,018) 26,201 141,491 665,659 53,190 718,849 

sul sruli Semosavali (danakargi)) – – – (6,061) (92,641) (98,702) (7,538) (106,240) 

gadafasebis rezervis cveTa, 

gadasaxadebis gaTvaliswinebiT 

wilobrivi gadaxdebis Sedegad 

– – – (3,377) 3,377 – – – 

warmoqmnili aqciebis zrda 

(SeniSvna 21) 

53 2,523 153 – – 2,729 – 2,729 

aqciis SeTavazebis xarjebis 

koreqtireba 

– 306 – – – 306 – 306 

Sedgenili finansuri instrumentis 

kapitalis komponenti 

arsebul Svilobil kompaniebSi 

– 9,769 – – – 9,769 – 9,769 

arasakontrolo paketis mflobeli 

aqcionerebis mier damatebiTi 

wilebis SeZena 

Svilobili kompaniis SeZeniT 

– – – – (6,064) (6,064) (1,479) (7,543) 

gamowveuli arasakontrolo 

paketis warmoqmna 

ara-sakontrolo paketis mflobelTa 

– – – 7,624 – 7,624 (24,730) (17,106) 

wili warmoqmnili Svilobili 

kompaniis SeZenis Sedegad 

– – – – – – 16 16 

saxazino aqciebis gayidva – 1,154 642 – – 1,796 – 1,796 

sazaxino aqciebis Sesyidva – (3,705) (454) – – (4,159) – (4,159) 

31 dekemberi, 2009 31,306 478,779 (1,677) 24,387 46,163 578,958 19,459 598,417 

sul sruli Semosavali – – – 7,942 81,888 89,830 588 90,418 




– – – (2,263) 2,263 – – – 


(SeniSvna 21) 

arsebul Svilobil kompaniebSi 

39 8,497 610 – – 9,146 – 9,146 

arasakontrolo paketis mflobeli 

aqcionerebis mier damatebiTi 

wilebis SeZena 

– – – – – – 11,973 11,973 

arsebul Svilobi kompaniebSi 

arasakontrolo paketis SeZena 


– – – (3,250) – (3,250) (6,854) (10,104) 



– – – – – – 3,925 3,925 

saxazino aqciebis gayidva – 7,104 448 – – 7,552 – 7,552 

saxazino aqciebis Sesyidva – (17,095) (891) – – (17,986) – (17,986) 

31 dekemberi, 2010w 31,345 477,285 (1,510) 26,816 130,314 664,250 29,091 693,341 

sul sruli Semosavali (danakargi) – – – (9,208) 130,253 121,045 (4,918) 116,127 




– – – (3,190) 3,190 – – – 


(SeniSvna 21)) 


33 2,716 148 – – 2,897 – 2,897 


(SeniSvna 21) 

1,500 – (1,500) – – – – – 

bankis aqcionerebis dividendebi 


– – – – (9,169) (9,169) – (9,169) 

arsebul Svilobi kompaniebSi 

arasakontrolo paketis SeZena 


– – – 60 – 60 2,453 2,513 



– – – – – – 13,447 13,447 

saxazino aqciebis gayidva – 26,777 1,268 – – 28,045 – 28,045 

saxazino aqciebis Sesyidva – (33,046) (1,552) – – (34,598) – (34,598) 

31 dekemberi, 2011w 32,878 473,732 (3,146) 14,478 254,588 772,530 40,073 812,603 



6 

sul 

kapita 

li


fuladi nakadebis konsolidirebuli angariSgeba 


(aTas larSi) 


fuladi nakadebi saoperacio saqmianobidan 

miRebuli procenti 494,782 412,407 377,043 

gadaxdili procenti (244,478) (194,622) (205,054) 

miRebuli gasamrjelo da sakomisio 93,541 74,265 64,599 

gadaxdili gasamrjelo da sakomisio (18,204) (10,845) (9,574) 

savaWro fasiani qaRaldebidan wminda realizebuli mogeba 

(zarali) 

(236) 2,267 587 

ucxouri sainvesticio fasiani qaRldebidan wminda realizebuli 

1,721 789 174 

mogeba 

ucxouri valutis vaWrobidan wminda realizebuli mogeba 

Camowerili Tanxebis aRdgena (klientebze gacemuli sesxebi da 

45,694 33,651 25,945 

finansuri ijaridan misaRebi Tanxebi) Recoveries of previously 9, 10 28,849 42,739 32,579 

written off loans to customers and finance lease receivables 

miRebuli sadazRvevo premiebi 46,070 46,159 31,319 

anazRaurebuli sadazRvevo moTxovnebi (26,106) (32,007) (16,801) 

sxva miRebuli saoperacio Semosavali 35,551 9,483 22,022 

gadaxdili xelfasebi da TanamSromelTa sxva Semosavali (100,500) (93,870) (88,365) 

gadaxdili saerTo, administraciuli da saoperacio xarji (72,246) (71,872) (80,026) 

fuladi nakadebi saoperacio saqmianobidan saoperacio 

aqtivebsa da valdebulebebSi cvlilebebamde 284,438 218,544 154,448 

wminda (zrda) kleba saoperacio aqtivebSi 

moTxovnebi sakredito dawesebulebebis mimarT (179,682) (45,090 ) 14,933 

klientebze gacemuli sesxebi (239,413) (813,482) 239,093 

moTxovnebi finansuri ijaridan (49,095) 8,252 12,448 

winaswari gadaxdebi da sxva aqtivebi (63,668) 100 (28,696) 

wminda (zrda) kleba saoperacio valdebulebebSi 

valdebulebebi sakredito dawesebulebebis winaSe (213,068) 190,994 (276,916) 

valdebulebebi meanabreTa winaSe 708,242 731,184 81,713 

sxva valdebulebebi (32,707) 21,981 455 

wminda fuladi nakadebi saoperacio saqmianobebidan (saoperacio 

saqmianobaSi) mogebis gadasaxadis gadaxdamde 215,047 312,483 197,478 

gadaxdili mogebis gadasaxadi (7,000) (3,144) (1,275) 

wminda fuladi nakadebi saoperacio saqmianobebidan 208,047 309,339 196,203 

fuladi nakadebi sainvesticio saqmianobidan 

Svilobili kompaniebis SeZena, miRebuli naRdi fulis 

gamoklebiT 

5 408 (139) (2,970) 

Svilobili kompaniis gayidvidan Semosavali 8,747 – – 

sainvesticio fasiani qaRaldebis gayidvidan Semosavlebi: 

gasayidad arsebuli 

20,625 1,518 25,323 

sainvesticio fasiani qaRaldebis Sesyidva:: 

gasayidad arsebuli 

(138,529) – – 

sainvesticio fasiani qaRaldebis Sesyidva : 

– (28,769) (226,804) 

dafarvamde Senaxuli 

mokavSire sawarmoTa investiciebis gayidvidan Semosavlebi 12 332 – 24 

sainvesticio qonebis SeZena 13 – – (495) 

Semosavali sainvesticio qonebis gayidvidan 13 7,889 5,490 755 

ZiriTadi saSualebebis da aramaterialuri aqtivebis 

– 13,312 3,404 

gayidva 

ZiriTadi saSualebebis da aramaterialuri aqtivebis SeZena 14, 15 (76,239) (41,839) (27,928) 

sainvesticio saqmianobaSi gamoyenebuli wminda fuladi saxsrebi (176,767) (50,427) (228,691) 



7


fuladi nakadebis konsolidirebuli angariSgeba 


(aTas larSi) 


fuladi nakadebi finansuri saqmianobidan 

gadaxdili dividendebi (9,169) – – 

saaqcio kapitalSi zrdidan Semosavlebi – – 306 

saxazino aqciebis SeZena (34,598) (17,986) (4,159) 

saxazino aqciebis gayidva 

arsebul Svilobil kompaniebis 

28,044 7,552 1,796 

arasakontrolo paketis gayidvidan 

Semosavlebi 

2,453 – – 

damatebiTi wilis SeZena arasakontrolo 

paketis mqone aqcionerebis mier 

– 11,973 (1,479) 

damatebiTi wilis SeZena arsebul 

– (6,854) (24,730) 

Svilobil kompaniebSi 

wminda fuladi nakadebi finansur 

(saqmianobaSi) saqmianobidan 

savaluto kursis efeqti fulsa da fulis 

eqvivalentebze 

fulisa da fulis eqvivalentebis wminda 

zrda (kleba) 

fuli da fulis eqvivalentebi, wlis 

dasawyisSi 

fuli da fulis eqvivalentebi, wlis 

bolos 

(13,270) (5,315) (28,266) 

(863) 98 2,822 

17,147 253,695 (57,932) 

7 611,584 357,889 415,821 

7 628,731 611,584 357,889 



8

ss `saqarTvelos banki~ da Svilobili kompaniebi 


(aTas larSi) 

1. ZiriTadi saqmianoba 

ss `saqarTvelos banki~ (`banki~) dafuZnda 1994 wlis 21 oqtombers, saaqcio sazogadoebis 

saxiT (`ss~), saqarTvelos kanonmdeblobis Sesabamisad. banki adre cnobili iyo, rogorc 

saxelmwifo banki `binsocbanki~. banki funqcionirebs saqarTvelos erovnuli bankis 

(`seb~; saqarTvelos centraluri banki) mier 1994 wlis 15 dekembers gacemuli zogadi 

sabanko licenziis safuZvelze. banki aris saqarTveloSi, ukrainaSi, belorusiaSi da 

kviprosSi, registrirebuli kompaniaTa jgufis (`jgufi~) saTavo sawarmo. misi umTavresi 

saqmianobaa sabanko, salizingo, sadazRvevo, sabrokero saqmianobebi, aqtivebisa da 

qonebis marTvis momsaxurebis gaweva korporaciuli da individualuri klientebisaTvis. 

jgufis Semadgeneli kompaniebis sia mocemulia me-2 SeniSvnaSi. banki warmoadgens jgufis 

mTavar saoperacio erTeuls da angariSvaldebulia jgufis umetes saqmianobaze 

banki sazogadoebisgan iRebs depozitebs, gascems kredits, axorcielebs gadaricxvebs 

rogorc saqarTvelos farglebSi, ise mis farglebs gareT, awarmoebs valutis gacvlas. 

misi saTao ofisi mdebareobs saqarTveloSi, TbilisSi. 2011 wlis 31 dekembris 

mdgomareobiT, banks aqvs 158 servis centri saqarTvelos yvela did qalaqSi (2010 wlis 31 

dekemberi: 142, 2009 wlis 31 dekemberi: 141). bankis registrirebuli iuridiuli misamarTia: 

saqarTvelo, Tbilisi, 0105, puSkinis quCa #3. 

2011, 2010 da 2009 wlebis 31 dekembris mdgomareobiT, qvemoT CamoTvlili aqcionerebi 

flobdnen bankis gamoSvebuli aqciebis 4%-ze mets. danarCeni aqcionerebi 

individualurad flobdnen gamoSvebuli aqciebis 4%-ze naklebs. 

aqcioneri 

31 dekemberi 

2011, % 

31 dekemberi 

2010, % 

31 dekemberi 

2009, % 

Bank of New York (Nominees), Limited 91.45% 90.50% 88.86% 

East Capital Financial Institutions 4.16% 4.36% 4.36% 

sxvebi (cal-calke 4%-ze naklebi) 4.39% 5.14% 6.78% 

sul 100.00% 100.00% 100.00% 

2011 wlis 31 dekembris mdgomareobiT, sameTvalyureo sabWos da direqtorTa sabWos 

wevrebi sakuTrebaSi flobdnen bankis 474,246 aqciasa da globaluri sadepozito 

sertifikatis (“GDRs”) (an 1,44%; 2010 aqcia da 1.43%; 2009: 612,962 aqcia da GDRs an .96%,). 

sameTvalyureo sabWos da direqtorTa sabWos wevrebis wilebis gadanawileba Semdegia: 

aqcionerebi 

31 dekemberi 

2011 flobili 

aqciebi da 

globaluri 

sadepozito 

sertifikatebi 

31 dekemberi 

2010, flobili 

aqciebi da 

globaluri 

sadepozito 

sertifikatebi 

31 dekemberi 

2009, flobili 

aqciebi da 

globaluri 

sadepozito 

sertifikatebi 

irakli gilauri 194,379 200,379 216,230 

alan hirsti 60,434 56,311 46,772 

sulxan gvalia 58,638 60,638 136,049 

avTo namiCeiSvili 39,823 34,823 29,999 

kaxa kiknaveliZe 26,337 22,509 15,027 

daviT morisoni 20,357 15,351 7,342 

nil janini 15,729 3,945 – 

giorgi WilaZe 14,000 14,333 6,333 

mixeil gomarTeli 10,634 10,634 9,916 

al briCi 10,279 6,527 – 

arCil gaCeCilaze 10,000 3,700 – 

vasil reviSvili* 5,908 – – 

ian heigi 5,112 1,578 – 

hana loikaneni 2,616 – – 

irakli burdilaZe – 17,504 23,035 

nikoloz enuqiZe** – – 122,259 

sul 474,246 448,232 612,962 

9



(aTas larSi) 

1. ZiriTadi saqmianoba (gagrZeleba) 

2011 wlis 31 dekembers 330,973 cali SeuzRudavi (“GDR”), (xelmisavdomi gasayidad), 

romelsac flobdnen mmarTveli sabWos wevrebi Sedgeboda Semdegisgan: (2010 wels: 292,395, 

da 2009 wels: 419,814): 

mmarTveli sabWos wevrebi 31 dekemb. 2011 31 dekemb 2010 31 dekemb 2009 

irakli gilauri 192,792 198,792 214,643 

sulxan gvalia 58,638 13,801 13,999 

avTo namiCeiSvili 39,001 34,001 29,999 

giorgi WilaZe 14,000 14,333 6,333 

mixeil gomarTeli 10,634 10,634 9,916 

arCil gaCeCilaZe 10,000 3,700 – 

vasil reviSvili 5,908 – – 

irakli burdilaZe – 17,134 22,665 

nikoloz enuqiZe** – – 122,259 

sul 330,973 292,395 419,814 

* dainiSna mmarTveli sabWos wevrad 2011 wlis 3 maiss 

sakuTrebaSi arsebuli aqciebis garda, mmarTveli sabWos wevrebs mieniWaT 143,500 

globaluri sadepozito sertifikati (“GDR”) 2011 wels (2010: 1,290,711, 2009: 463,912 

sameTvalyureo sabWos da mmarTvel sabWos). 143,500 globaluri sadepozito sertifikati, 

romlebic gaica mmarTvel sabWoze 2011 wels eqvemdebareba orwlian uflebebs. mTlianad 

1,290,711-dan 915,000 aqcia (2010 wels), romelic unda gadascemoda mmarTvel sabWos 

eqvemdebareba 4 wlian periods da xolo danarCeni eqvemdebare samwlian periods. 

2. momzadebis safuZveli 

Sesavali 

winamdebare konsolidirebuli finansuri angariSgeba momzadebulia finansuri 

angariSgebis saerTaSoriso standartebis Sesabamisad (`fass~). 

banks da saqarTveloSi dafuZnebul mis Svilobil kompaniebs kanonmdeblobiT 

moeTxovebaT, rom dokumentacia awarmoon da finansuri angariSgeba moamzadon larSi 

`fass~-s Sesabamisad, maSin rodesac saqarTvelos farglebs gareT dafuZnebuli 

Svilobili kompaniebi Sesabamisi adgilobrivi valutebiT funqcionireben. winamdebare 

konsolidirebuli finansuri angariSgeba momzadebulia istoriuli Rirebulebis 

meTodis gamoyenebiT, garda samarTliani RirebulebiT asaxuli finansuri aqtivebisa da 

valdebulebebisa, gasayidad arsebuli fasiani qaRaldebisa, sainvesticio qonebisa da 

gadafasebuli ZiriTadi saSualebebisa. 

winamdebare konsolidirebuli finansuri angariSgeba warmodgenilia aTas larSi 

(`lari”), TiTo aqciis Rirebulebis garda, Tu sxvagvarad ar iqna miTiTebuli 

10



(aTas larSi) 

2. momzadebis safuZveli (gagrZeleba) 

Svilobili kompaniebi 

konsolidirebuli finansuri angariSgeba 2011, 2010 da 2009 wlebis 31 dekembris 

mdgomareobiT moicavs Semdeg pirdapir da arapirdapir Svilobil kompaniebs: 


sakuTreba / xmis 

ufleba % 

31 

dekemb 

2011 

31 

dekemb 

2010 

31 

dekemb 

2009 

registraciis 

qveyana saqmianoba 

registraciis 

TariRi 

SeZenis 

TariRi 

ss banki perSi (yofili ss biji banki) (i) 19.4% 99.4% 99.4% ukraina sabanko 26/01/1994 1/10/2007 

`valimedi~ unitaruli sawarmo (adre 

Sps) 

(a) 100.0% 100.0% belorus sainvesticio 14/09/2000 3/06/2008 

⇒ prosqeil em, UE – (b) 100.0% belorus biznes momsaxureba 15/05/2003 4/12/2009 

ss bi ji kapitali (saqarTvelo) (adre 

cnobili rogorc `galt end 

TaggarT siqiuriTis”) 

100.0% 100.0% 100.0% saqarTvelo 

sabrokero da 

aqtivebis marTva 

19/12/1995 28/12/2004 

⇒ benderloq invesTmenTs limiTed 100.0% 100.0% 100.0% kviprosi investiciebi 12/05/2009 13/10/2009 

⇒ Sps `bi ji Teqs edvaisori” 100.0% 100.0% 100.0% saqarTvelo 

sagadasaxado 

konsultacia 

25/09/2007 – 

⇒ Sps bi ji qomodiTis (saqarTvelo (c) 100.0% 100.0% saqarTvelo saqonliT vaWroba 16/04/2009 – 

⇒ Sps bi ji qomodiTis (ukraina) 100.0% 100.0% 100.0% ukraina saqonliT vaWroba 24/11/2009 – 

⇒ `galt end Taggart holdingz 

limiTed~ 

100.0% 100.0% 100.0% kviprosi investicia 3/07/2006 – 

⇒ bi ji Treiding limiTed 100.0% 100.0% 100.0% kviprosi investicia 26/03/2007 – 

⇒ ss `galt end TaggarT siqiuriTis, 

es-ei~ (moldova) 

– (d) 95.1% moldova investicia 7/07/2008 – 

⇒ Sps bi ji kapital (ukraina), Sps 100.0% 100.0% 100.0% ukraina sabrokero 23/10/2006 – 

⇒ Sps bi ji kapital (belorusia), Sps 100.0% 100.0% 100.0% belorus sabrokero 19/02/2008 – 

⇒ bruqsbi invesTmenTs limiTedi 100.0% 100.0% 100.0% kviprosi investicia 4/03/2008 18/06/2008 

⇒ ss beloruski narodni bank 79.99% 79.99% 99.98% belorus sabanko 16/04/1992 3/06/2008 

⇒ Sps bi en bi lizingi 99.9% 99.9% 76.0% belorus lizingi 30/03/2006 3/06/2008 

ss sadazRvevo kompania aldagi bisiai 100.0% 100.0% 100.0% saqarTvelo dazRveva 22/06/2007 – 

⇒ biznes centri yazbegi, Sps 100.0% – – saqarTvelo sxvadasxva 22/06/2010 1/10/2011 

⇒ ss Cemi ojaxis klinika 51.0% 100.0% 100.0% saqarTvelo jandacva 3/10/2005 – 

⇒ quTaisis ss wm. nikolozis 

saxelobis qirurgiuli centri 

55.0% 55.0% 55.0% saqarTvelo samed. momsaxur 3/11/2000 20/05/2008 

⇒ quTaisis regionuli klinikuri 

saavadmyofo, Sps 

100.0% 100.0% – saqarTvelo samed. momsaxur 19/07/2010 1/10/2010 

⇒ ss zugdidis mravalprofiluri 

klinikuri saavadmyofo 

`respublika’ 

100.0% – – saqarTvelo samed. momsaxur 11/06/1998 29/11/2011 

⇒ Sps quTaisis dedaTa da 

bavSvTa mkurnalobisa da 

diagnostikuri centri 


⇒ ss Cxorowyus regionuli 

centraluri saavamdmyofo 


⇒ akademikos z. cxakaias sax. 

dasavleT saqarTvelos 

intervenciuli medicinis 

erovnuli centri, Sps 


⇒ e.k. fifias saxelobis 

walenjixis centraluri 



⇒ marTvilis mraval-profiruli 



⇒ abaSis ambulatoriuli 

poliklinika, Sps 


⇒ wyaltubos regionuli 

saavadmyofi, Sps 


⇒ xobis centraluri raionuli 

klinika, Sps 


saqarTvelos lizingis kompania, Sps 100.0% 100.0% 100.0% saqarTvelo lizingi 29/10/2001 31/12/2004 

⇒ ss di bi el.ji – (e) 100.0% saqarTvelo investicia 23/04/2007 – 

⇒ ss di bi el kapitali – (e) 100.0% saqarTvelo sabrokero 27/04/2007 – 

ss ji-si holdingzi (adre Sps) 100.0% 100.0% 100.0% saqarTvelo ianvesticio 29/10/2007 – 

⇒ Sps ji-si ukraina – (d) 100.0% ukraina baraT. damuSaveba 30/07/2008 – 

⇒ ss jorjian qardi 71.78% 71.78% 55.8% saqarTvelo baraT. damuSaveba 17/01/1997 20/10/2004 

⇒ Sps direqt debit jorjia 100.0% 100.0% 100.0% saqarTvelo 

eleqtronuli 

gadaxdis sams. 

7/03/2006 – 

⇒ metronet, Sps 100.0% 100.0% 100.0% saqarTvelo 

komunik. momsax. 

23/04/2007 – 

ss `liberTi konsumeri~ 67.08% 65.3% 65.3% saqarTvelo investicia 24/05/2006 – 

⇒ ss `Teliani veli” 51.14% 52.33% 27.19% saqarTvelo meRvineoba 30/06/2000 28/02/2007 

11



(aTas larSi) 

⇒ Sps `Teliani Treiding” 

(saqarTvelo) 

100.0% 100.0% – saqarTvelo distribucia 10/01/2006 27/03/2007 

⇒ Sps `Teliani Treiding” 

(ukraina) 

100.0% 100.0% – ukraina distribucia 03/10/2006 31/12/2007 

⇒ Sps `le kavkas” 100.0% 100.0% – saqarTvelo koniakis sawar. 23/09/2006 20/03/2007 

⇒ Sps `kupa” 70.0% 70.0% – saqarTvelo xis kasrebis saw. 12/10/2006 20/03/2007 

⇒ ss `sb auTdor end indori~ – (f) 100.0% saqarTvelo reklamireba 9/06/2006 – 

⇒ ss ìnterturi~ 97.02% 97.02% 83.6% saqarTvelo samogzauro saag. 29/03/1996 25/04/2006 

⇒ Sps ìnterturi~ ukraina (a) 100.0% – ukraina samogzauro saag. 19/02/2010 – 

⇒ Sps `holidei Treveli~ 100.0% 100.0% 100.0% saqarTvelo samogzauro saag. 11/02/2005 4/09/2006 

⇒ ss `fraim fitnesi~ 100.0% 100.0% 100.0% saqarTvelo fitness centri 3/07/2006 – 

⇒ Sps `planeta forte” 51.0% 51.0% 51.0% saqarTvelo gazeTis savaWro 31/10/1995 1/01/2009 

ss sibi real isTeiT 

100.0% 100.0% 61.4% saqarTvelo uZravi qoneba 27/09/2006 – 

⇒ kavkasus avtohauz, Sps 100.0% – – saqarTvelo uZravi qoneba 29/03/2011 – 

⇒ TamaraSvili 13, Sps 100.0% – – saqarTvelo uZravi qoneba 03/11/2011 – 

ss `galt end Taggart holdingz 

(saqarTvelo)” 

100.0% 100.0% 100.0% saqarTvelo investicia 4/11/2008 – 

⇒ ss `klubi 24” (b) – (g) 100.0% saqarTvelo garToba 27/11/2007 – 

⇒ Sps ~metro servis +” 100.0% 100.0% 100.0% saqarTvelo biznes momsaxureba 10/05/2006 – 

⇒ Sps `jorjia fainanSial 

invesTmenTs” 

100.0% 100.0% 100.0% israeli 

informaciis 

gaziareba da 

marketinguli kvleva 

9/02/2009 – 

⇒ Sps ùZravi qonebis sabrokero 

kompania “presto” 

– (g) 100.0% saqarTvelo 

uZravi qonebis 

sabrokero 

16/11/2007 – 

⇒ ss ~sb imobiliare” – (g) 100.0% saqarTvelo 

uZravi qoneba, 

mSenebloba 

12/03/2008 – 

⇒ ss `sb iberia” – (h) 100.0% saqarTvelo 


mSenebloba 

13/12/2007 19/08/2009 

⇒ ss `sb iberia 2” – (h) 100.0% saqarTvelo 


mSenebloba 

28/03/2008 19/08/2009 

⇒ saqarTvel;os bankis 

warmomadgenloba Uk limiTed 

100.0% 100.0% – 

gaerT. 

samefo 

informaciis 

gaziareba da 

marketinguli kvleva 

17/08/2010 – 

⇒ Sps profesiul kalaTburTelTa 

klubi `dinamo Tbilisi” 

100.0% – – saqarTvelo investicia 01/10/2011 – 

ss `saqarTvelos fasiani qaRaldebis 

gaerTianebuli registratori 

100.0% 100.0% 100.0% saqarTvelo registratura 29/05/2006 – 

(a) aRar aris jgufis Svilobili kompania, 2011 wels misi gayidvis gamo 

(b) aRar aris jgufis Svilobili kompania, 2010 wels misi gayidvis gamo 

(c) biji qomodiTis (jorjia) Seerwya ss biji kapitals 2011 wels. 

(d) aRar aris jgufis Svilobili kompania, 2010 wels misi likvidaciis gamo 

(e) Seerwya Sps bi-ji kapitals (saqarTvelo) 2010 wels 

(f) Seerwya ss `prima fitness” 2010 wels 

(g) ss `klubi 24”-Si, Sps uZravi qonebis sabrokero –presto-Si da Sps sibi imobileSi investiciam Tavisi 

wvlili Seitana ss sibi real isTeiTis kapitalSi `galt end Taggart holdingz (saqarTvelo)”-m Tavisi 

investiciebi ss sb TreidSi da Sps sb transportSi, Seitana Sps `klubi 24”-is kapitalSi. es ori kompania 

Seerwya Sps sibi real isTeiTs 2010 wels. 

(h) Seerwya ss `sibi imobilaris” 2010 wels 

(i) aRar aris jgufis Svilobili 2011 wels sakontrolo paketis gayidvis gamo. 

3. mniSvnelovani saaRricxvo politikis mimoxilva 

axali an Sesworebuli standartebis da interpretaciebis miReba 

2011 wlis 31 dekembers dasrulebuli wlisTvis jgufma miiRo Semdegi Sesworebuli 

`fass~ da axali `faisk“ interpretaciebi. am cvlilebebis ZiriTadi Sedegebia: 

3. saaRricxvo politikis mimoxilva (gagrZeleba) 

axali an Sesworebuli standartebis da interpretaciebis miReba (gagrZeleba) 

bass 32-is cvlilebebis `finansuri instrumentebis: warmodgena” uflebebis gacemis 

klasifikacia 

2009 wlis oqtomberSi, basss-m gamosca bass 32-is cvlilebebi. organizaciebma unda 

gamoiyenon es cvlileba 2010 wlis 1 Tebervals an Semdeg dawyebuli periodebisTvis. 

ufro adre gamoyeneba nebadarTulia. es cvlileba cvlis bass 32-Si miTiTebuli 

finansuri valdebulebebis ganmartebas, romelic exeba uflebebis gacemas da garkveul 

12



(aTas larSi) 

operaciebs an garantiebs rogorc kapitalis instruments. es instrumenti gamoiyeneba Tu 

uflebebis gacema xdeba yvela imave klasis arsebuli mflobelebis proporciulad, raTa 

SeZenili iqnas fiqsirebuli raodenobis sawarmos sakuTari instrumenti fiqsirebul 

fasad nebismier valutaSi. jgufi varaudobs, rom es cvlileba gavlenas ar moaxdens 

jgufis konsolidirebul finansur angariSgebaze. 

bass 24 `dakavSirebuli mxaris informacia“ (Sesworebuli) 

Sesworebuli standarti ZalaSia 2011 wlis 1 ianvridan. is azustebs dakavSirebuli 

mxaris ganmartebas, romlis mizania gaamartivos aseTi urTierTobis identifikacia da 

aRmofxvras mis gamoyenebasTan dakavSirebuli Seusabamobebi. Sesworebuli standarti 

warmogvidens mTavrobasTan dakavSirebuli organizaciisTvis gamJRavnebis moTxovnebis 

nawilobriv gaTavisuflebas. banki ar varaudobs raime gavlenas mis finansur 

mdgomareobaze. naadrevi miReba daSvebulia rogorc mTavrobasTan dakavSirebuli 

organizaciebisTvis nawilobrivi gaTvisuflebisTvis, aseve mTliani standartisTvis 

faisk 14 `minimaluri dafinansebis moTxovnebis winaswar gadaxda (Sesworebuli)” 

ZalaSia 2011 wlis 1 ianvars an Semdeg dawyebuli wlisTvis. faiski warmoadgens 14 

saxelmZRvanelo miTiTebas sufTa sapensio aqtivis dasafari Tanxis Sefasebis Sesaxeb. 

es Sesworeba uflebas aZlevs organizacias CaTvalos minimaluri dafinansebis 

moTxovnis winaswagadaxda aqtivad. es Sesworeba gamoiyeneba retrospeqtulad pirvel 

finansur angariSebSi warmodgenili adreuli periodis dasawyisis mimarT, romlis 

drosac organizacia iyenebda Tavdapirvel interpretacias. 

organizaciebma unda Seafason saWiroebs Tu ara winaswargadaxdili Tanxebi gadafasebas 

sapensio aqtivebis dafarvaze maTi gavlenis TvalsazrisiT. organizaciebs, romlebic 

mimarTvan koridorul midgomas faqtobrivi mogebebis da zaralis aRiarebis mizniT aseve 

dasWirdebaT dagegmili aqtivebis koridorul da dafarvis unars Soris urTierT 

kavSiris gaTvaliswineba. faisk 14–s raime gavlena ar mouxdenia jgufis 

konsolidirebul finansur angariSebze. 

faisk 19 `finansuri valdebulebebis likvidacia wilobrivi instrumentebiT” 

faisk interpretacia 19 gamoica 2009 wlis noemberSi da ZalaSia mTeli wlis 

ganmavlobaSi dawyebuli 2010 wlis 1 ivlisidan. interpretacia azustebs aRicxvas, roca 

finansuri valdebulebis pirobebi xelaxla SeTanxmdeba da uzrunvelyofs wilobriv 

instrumentebs kreditorebisTvis finansuri valdebulebebis mTlianad an nawilobriv 

likvidaciisTvis. faisk 19 savaraudod raime mniSvenlovan gavlenas ver moaxdens jgufis 

konsolidirebul finansur angariSgebebze. 

fass-ebis gaumjobeseba 

2010 wlis maisSi basss-ma gamoqveyna misi standartebis mesame cvlilebebis krebuli, 

romlis mizani iyo upirveles yovlisa Seusabamobebis aRmofxvra da formulirebis 

dazusteba. cvlilebebis umetesoba ZalaSia erTi wlis ganmavlobaSi dawyebuli 2011 

wlis I ianvridan. TviToeuli standartisTvis arsebobs calke gardamavali debulebebi. 

cvlilebebi, romlebic Setanili iqna `fass-is gaumjobesebaSi” 2010 wlis maisSi 


gavlenas moaxdens jgufis saaRricxvo politikaze, finansur mdgomareobasa da 

efeqturobaze, rogorc es qvemoTaa aRwerili. 

• fass 3 sawarmoebis gaerTianebebi: zRudavs Sefasebis moculobis arCevans, romelic 

gulisxmobs imas, rom mxolod NCI komponentebiT, romlebic amJamad warmoadgens 

sakuTrebis uflebis wilebs, maT mflobelebs aniWebs uflebas likvidaciis 

SemTxvevaSi miiRon sawarmos wminda aqtivebis proporciuli wili, da romelic 

unda gaizomos samarTliani RirebulebiT an SeZenili sawarmos wminda aqtivebis 

arsebuli sakuTrebis uflebis instrumentebis proporciuli wilis mixedviT. 

13



(aTas larSi) 

jgufi varaudobs, rom fass 3-is sxva cvlilebebi gavlenas ver moaxdens jgufis 

finansur angariSgebebze.. 

• fass 7 finansuri instrumentebi: monacmebi; gulisxmobs cvlilebebs raodenobrivi 

da sakredito riskis monacmebSi. 

• bass 34 Sualeduri finansuri angariSgeba: emateba informacia moTxovnebi 

garemoebebis Sesaxeb, romelic gavlenas axdens samarTlian Rirebulebaze da 

finansuri instrumentebis klasifikaciaze, samarTliani Rirebulebis ierarqiis 

doneebs Soris finansuri instrumentebis gadacemebis Sesaxeb, cvlilebebi 

finansuri aqtivebis klasifikaciaSi da cvlilebebi pirobiT valdebulebebsa da 

aqtivebSi. moTxovnili damatebiTi monacmebi warmodgenili iqneba jgufis Sualedur 

finansur angariSgebebSi. 

• fass 1-is, bass 27-is da faisk 13-is cvlilebebi gavlenas ver moaxdens jgufis 

sabuRaltro aRricxvis politikaze, finansur mdgomareobasa da saqmianobaze. 


Svilobili kompaniebi, romlebSic jgufs gaaCnia xmis uflebisTvis saWiro wilis 

naxevarze meti, an sxvagvarad gaaCnia ufleba ganaxorcielos am Svilobili kompaniebis 

operaciebis kontroli, warmoadgenen konsolidirebul sawarmoebs. Svilobili kompaniebi 

konsolidirebulad miiCneva kontrolis uflebis warmoSobidan. Svilobil kompaniebs 

aRar gaaCniaT aRniSnuli statusi kontrolis uflebamosilebis Sewyvetisas. jgufis 

yvela Sida operacia, naSTebi da ararealizebuli mogeba jgufis kompaniebs Soris 

operaciebidan iqviTeba. ararealizebuli zarali aseve iqviTeba im SemTxvevis garda, 

rodesac operacia iZleva gadacemuli aqtivis gaufasurebis safuZvels. aucileblobidan 

gamomdinare Svilobili kompaniebis sabuRaltro wesebi Seicvala, raTa isini 

SesabamisobaSi yofiliyo jgufis mier aRiarebul wesebTan. 

sawarmoebis gaerTianeba 2010 wlis 1 ianvridan 

sawarmoebis gaerTianebisas gamoiyeneba SeZenis meTodi. SeZenis Rirebuleba fasdeba 

rogorc SeZenis dRes samarTliani RirebulebiT gadacemuli, Sefasebuli mTliani 

uzrunvelyofa da SeZenil sawarmoSi nebismieri arasakontrolo wilis moculoba. 

TviToeuli gaerTinebis SemTxvevaSi jgufi afasebs SeZenil sawarmoSi arasakontrolo 

wils samarTliani Rirebulebis an SeZenil sawarmos wmida aqtivebis poroporciuli 

wilis mixedviT. warmoqmnili SeZenis xarjebi warmoadgens fass. 

roca jgufi SeiZens sawarmos, is afasebs finansur aqtivebs da valdebulebebs, 

romlebic navaraudevia SeZenis TariRisTvis savaraudo klasifikaciisTvis sakontraqto 

pirobebis, ekonomikuri garemoebebisa da potenciuri pirobebis Sesabamisad. amaSi Sedis 

SeZenili sawarmos mier kontraqtebSi Cadebuli warmoebuli funqciebis gancalkeveba. 

Tu sawarmoebis gaerTianeba xorcieldeba etapobrivad, SeZenil sawarmoSi adre 

flobili kapitalSi jgufis wilebis samarTliani Rirebuleba SeZenis dRes xelaxla 

gadafasdeba SeZenis TariRisTvis arsebuli samarTliani RirebulebiT mogebis an 

zaralis saSualebiT. 


jgufis mier gadasacemi nebismieri pirobiTi gadaxda aRiarebulia SeZenis TariRisTvis 

samarTliani RirebulebiT. pirobiTi gadaxdis samarTliani Rirebulebis Semdgomi 

cvlileba, romelic CaiTvleba aqtivad an valdebulebad, aRiarebuli iqneba bass 39-is 

Sesabamisad mogebaSi an zaralSi an rogorc sxva mTliani Semosavlis cvlileba. Tu 

droebiTi gadaxda klasificirebuli iqneba rogorc kapitali, misi gadafaseba ar 

moxdeba manam, sanam sabolood ar moxdeba misi dafarva kapitalis farglebSi. 

gudvili Tavdapirvelad fasdeba TviTRirebulebiT, romelic aRemateba jgufis wminda 

SeZenil aqtivebsa da arsebul valdebulebebTan dakavSirebiT gadaricxul Tanxas. Tu es 

gaxadili Tanxa naklebia SeZenili Svilobili sawarmos wminda aqtivebis samarTlian 

Rirebulebaze, sxvaoba aRiarebulia mogebaSi an zaralSi. Tavdapirveli aRiarebis Semdeg 

gudvili fasdeba TviTRirebulebiT, gamoklebuli nebismieri dagvrovili gaufasurebiT 

14



(aTas larSi) 

gamowveuli zarali. gaufasurebis Semowmebis mizniT, sawaroTa gaerTinebaSi SeZenili 

gudvili SeZenis TariRisTvis gadaecema jgufis fuladi saxsrebis Semodinebis 

TviToeul ganyofilebas, romlebic varaudis mixedviT sargebels naxaven am 

gaerTianebiT, miuxedavad imisa SeZenili sawarmos sxva aqtivebi an valdebulebebi 

miekuTvneba Tu ara am ganyofilebebs. 

Tu gudvili warmoadgens fuladi saxsrebis Semodinebis ganyofilebis nawils da im 

operaciis nawils, romelic xorcieldeba am ganyofilebaSi, operaciis 

ganxorcielebasTan dakavSirebuli gudvili operaciis ganxorcielebisas mogebis an 

zaralis gansazRvrisas Setanilia operaciis sabalanso RirebulebaSi. am garemoebebSi 

ganxorcielebuli gudvili fasdeba ganxorcielebuli operaciis SedarebiTi 

RirebulebiT da fulis -warmoebis ganyofilebaSi SenarCunebuli wiliT. 

sawarmoTa gaerTianeba 2010 wlis 1 ianvramde 

zemoT aRniSnuli moTxovnebis Sedarebisas gamovlinda Semdegi gansxvavebebi: 

sawarmoTa gaerTianebebi ganxorcielda Sesyidvis meTodis gamoyenebiT, uSualod SeZenas 

mikuTvnebuli garigebis xarjebi Seadgenda SeZenis xarjebis nawils. arsakontrolo 

wilebi (adre cnobili rogorc arasakontrolo paketi) fasdeboda SeZenil sawarmos 

wminda aqtivebis proporciuli wilis mixedviT. 

sawarmoTa etapobrivi gaerTianebebi CaiTvala calcalke RonisZiebad. nebismieri 

damatebiT SeZenilma wilma gavlena ar moaxdina adre aRiarebul gudvilze. 

roca jgufma SeiZina gudvili, SeZenili sawarmos mier kontraqtebSi Cadebuli 

warmoebuli funqciebis gancalkeveba ar gadafasebula SeZenis dros, sanam sawarmoebis 

gaerTianebam ar gamowvia cvlileba im kontraqtis pirobebSi, romelmac mniSvnelovnad 

Secvala fuladi saxsrebis nakadi, da romelic sxvagvarad SeZenili iqneboda kontraqtis 

Sesabamisad. 

pirobiT gadaxdili Tanxa aRirebuli iyo, mxolod maSin, Tu jgufs hqonda arsebuli 

valdebuleba, ekonomikuri gadineba, da ganisazRvreboda saimedo maCveneblebiT. pirobiTi 

gadasaxdeli Tanxis Semdgomma koreqtirebam gavlena moaxdina gudvilze. 

Svilobili kompaniebis SeZena saerTo kontrolis qveS arsebuli mxareebisgan 

jgufis mier Svilobili kompaniis SeZenisas gamoiyeneba buRaltruli aRricxvis 

SesyidvaTa meTodi. 

saerTo kontrolis qveS gadacemuli Svilobili kompaniis aqtivebi da valdebulebebi 

warmodgenilia sam konsolidirebul finansur angariSgebaSi gadacemis TariRisTvis 

arsebuli gadacemuli sawarmos (winamorbedi) nominaluri RirebulebiT. dakavSirebuli 


gudvili, romelic warmoadgenda winamorbedis Tavdapirveli SeZenis nawils, aseve 

miTiTebulia sam konsolidirebul finansur angariSgebebSi. wminda aqtivebis mTlian 

neto-kapitals Soris nebismieri sxvaoba, maT Soris winamorbedis gudvili, da gadaxdili 

Tanxa Setanilia am sam konsolidirebul angariSgebaSi aqcionerTa kapitalis 

koreqtirebiT. 

es konsolidirebuli finansuri angariSgebebi, romelbic moicavs Sesabamis monacemebs, 

warmodgenilia imgvarad, TiTqos Svilobili kompania SeZenili iyo jgufis mier im dRes, 

roca winamorbedma is Tavdapirvelad SeiZina. 

investiciebi mokavSire sawarmoebSi 

15



(aTas larSi) 

mokavSire sawarmoebi warmoadgenen sawarmoebs, sadac kompanias, rogorc wesi, gaaCnia 

xmis uflebis 20 dan 50%-mde an sxvagvarad aris uflebamosili iqonios mniSvnelovani 

gavlena kompaniaze, magram romelsac igi ar akontrolebs. investiciebi mokavSire 

sawarmoebSi aRiricxeba kapitalis meTodiT da aRiarebulia Tavdapirveli RirebulebiT 

gudvilis CaTvliT. mniSvnelovani cvlilebebi sabalanso RirebulebaSi asaxavs 

Sesyidvis Semdgom cvlilebebs Svilobil kompaniaSi jgufis wminda aqtivebis wilSi. 

mokavSire sawarmoSi jgufis mogebis an zaralis wilis aRiareba xdeba mogeba-zaralis 

konsolidirebul angariSgebaSi, xolo rezervebis dinamikis wilis aRiareba xdeba 

kapitalSi. Tumca, Tu mokavSire sawarmoSi jgufis zaralis wili tolia an metia 

jgufis sargebelze, jgufi ar aRiarebs Semdgom zarals, garda im SemTxvevisa, rodesac 

jgufi valdebulia ganaxorcielos Semdgomi gadaxdebi mokavSire sawarmoSi Tu misi 

saxeliT. 

jgufsa da mokavSire sawarmos Soris operaciebidan miRebuli ararealizebuli mogeba 

iqviTeba im odenobiT, ra wilsac flobs jgufi am mokavSire sawarmoSi. ararealizebuli 

zarali aseve iqviTeba mokavSire sawarmoSi jgufis wilis Sesabamisad, an Tu ar 

arsebobs gadacemuli aqtivis gaufasurebis safuZveli. 

finansuri aqtivebi 

Tavdapirveli aRiareba 

bass 39-is Sesabamisad, finansuri aqtivebi klasificirebulia samarTliani RirebulebiT 

mogeba-zaralis angariSgebis gavliT, sesxebad da moTxovnebad, vadamde flobil 

investiciebad an gasayidad arsebul finansur aqtivebad. finansuri aqtivebis 

Tavdapirveli aRiarebisas, maTi aRricxva xdeba samarTliani RirebulebiT, rasac emateba 

uSualod garigebasTan dakavSirebuli xarjebi mxolod im investiciebisaTvis, romlebic 

ar aisaxeba samarTliani RirebulebiT mogeba-zaralis angariSgebis gavliT. jgufi 

gansazRvravs finansuri aqtivebis klasifikacias Tavdapirveli aRiarebis Semdgom. 

aRiarebis TariRi 

rogorc wesi, finansuri aqtivebis gayidvebisa da Sesyidvebis aRiareba xdeba savaWro 

operaciis dRes, anu im TariRiT, rodesac jgufi Seisyidis aqtivs. Cveulebriv, finansuri 

aqtivebis Sesyidva da gayidva iseTi operaciebia, romlebic moiTxoven aqtivis mitanas 

daniSnulebis punqtamde kanonmdeblobiT Tu sabazro pirobebiT regulirebad periodSi. 

finansuri aqtivebi samarTliani RirebulebiT mogeba-zaralis angariSgebis saSualebiT 

savaWrod flobili finansuri aqtivebi Sesulia kategoriaSi "finansuri aqtivebi 

samarTliani RirebulebiT mogeba-zaralis angariSgebis gavliT". finansuri aqtivebi 

klasificirebulia rogorc savaWrod flobili im SemTxvevaSi, Tu isini unda gaiyidos 

axlo momavalSi. warmoebuli finansuri instrumentebi agreTve klasificirdeba rogorc 

savaWrod flobili, Tu isini ar ganekuTvneba efeqturi hejirebis instrumentebs. 


savaWrod flobili finansuri aqtivebidan mogeba-zarali aisaxeba mogeba-zaralis 

konsolidirebul angariSgebaSi. 

dafarvis vadamde flobili investiciebi 

finansuri aqtivebi, romlebic ar warmoadgenen warmoebul finansur instrumentebs da 

gaaCniaT fiqsirebuli an gansazRvradi dafarvebis grafiki da fiqsirebuli vada, 

klasificirdebian rogorc dafarvis vadamde flobili fasiani qaRaldebi, rodesac 

jgufs Seswevs maTi vadamde flobis unari. aRniSnuli gansazRvreba ar moicavs 

ganusazRvreli vadis mqone investiciebs. dafarvis vadamde flobili investicibi 

aRiricxeba amortizebuli RirebulebiT. amortizebuli Rirebuleba gamoiangariSeba 

16



(aTas larSi) 

rogorc Tavdapirvelad aRiarebul Tanxas gamoklebuli yvela Semdgomi dafarva, rasac 

emateba an akldeba akumulirebuli amortizacia, romelic gamoiangariSeba efeqturi 

saprocento ganakveTis meTodiT Tavdapirvelad aRiarebul Tanxasa da vadis amowurvisas 

arsebul Tanxas Soris sxvaobasTan mimarTebaSi. es gamoTvla moicavs nebismier 

gasamrjelosa da miRebul Tu gadaxdil Tanxebs mxareebs Soris xelSekrulebiT, 

romliTac gansazRvrulia efeqturi saprocento ganakveTi, operaciis sakomisio da sxva 

premiebi Tu fasdaklebebi. amortizirebuli RirebulebiT aRricxuli investiciebisaTvis, 

mogebisa da zaralis aRiareba xdeba mogeba-zaralis konsolidirebul angariSgebaSi, 

rodesac xdeba investiciis Camowera, an investicia ufasurdeba, agreTve cveTis procesSi. 

sesxebi da moTxovnebi 

sesxebi da moTxovnebi arawarmoebuli finansuri aqtivebia, romelTac gaaCniaT 

fiqsirebuli an gansazRvruli gadasaxadi da romelTa kotireba ar xdeba bazarze. isini 

ar klasificirdeba rogorc savaWro fasiani qaRaldebi, ar ganisazRvreba rogorc 

gasayidad arsebuli fasiani qaRaldebi da ar gamoiyeneba mokle periodSi gayidvis 

mizniT. aseTi aqtivebi aRiricxeba amortizebuli RirebulebiT, efeqturi saprocento 

ganakveTis meTodis gamoyenebiT. mogebisa da zaralis aRiareba mogeba-zaralis 

konsolidirebul angariSgebaSi xdeba sesxisa da moTxovnis Camowerisas, gaufasurebisas, 

aseve amortizaciis procesSi. 

gasayidad arsebuli finansuri aqtivebi 

gasayidad arsebuli finansuri aqtivebi is arawarmoebuli finansuri aqtivebia, romlebic 

gansazRvrulia gasayidad arsebul finansur aqtivebad da ar aris gaTvaliswinebuli 

zemoTaRniSnul sam kategoriaSi. Tavdapirveli aRiarebis Semdgom, gasayidad arsebuli 

finansuri aqtivebis Sefaseba xdeba samarTliani RirebulebiT, mogebisa da zaralis 

calkeul komponentad aRiarebiT kapitalSi, investiciis Camoweramde Tu gaufasurebamde, 

rodesac kapitalSi aRricxuli jamuri mogeba Tu zarali aRiricxeba mogeba-zaralis 

konsolidirebul angariSgebaSi. Tumca, efeqturi saprocento ganakveTis meTodiT 

daangariSebuli saprocento ganakveTis aRiareba xdeba mogeba-zaralis konsolidirebul 

angariSgebaSi. 

samarTliani Rirebulebis gansazRvra 

finansur bazarze gasayidad arsebuli investiciebis samarTliani Rirebuleba balansis 

Sedgenis TariRisaTvis ganisazRvreba kotirebuli sabazro fasdadebiT SeTavazebis 

fasiT grZel poziciaze da moTxovnis fasiT mokle poziciaze, saoperacio xarjis 

gamoklebis gareSe, balansis Sedgenis dRis bolosaTvis. 

investiciebisaTvis, romelTa sabazro pirobebTan Sedarebac ver xerxdeba, samarTliani 

Rirebuleba ganisazRvreba saTanado Sefasebis meTodis gamoyenebiT. Sefasebis meTodi 

moicavs samarTliani pirobebiT warmoebul sabazro garigebebs, romlebic 

gamomdinareobs nebayoflobiTi operaciebidan, likvidaciidan Tu gayidvebidan, 


analogiuri instrumentebis sabazro fasebze, diskontirebul fulad nakadebze da sxva 

Sefasebis modelebze dayrdnobiT 

gaqviTva 

finansuri aqtivebisa da valdebulebebis gaqviTva da maTi wminda TanxiT sabalanso 

angariSgebaSi asaxva xdeba maSin, rodesac arsebobs Sesabamisi Tanxebis gaqviTvis 

iuridiuli ufleba da maTi wminda saxiT dafarvis ganzraxva, an ganzraxva, moxdes 

aqtivis realizacia da valdebulebis myisieri dafarva 

fuli da fulis eqvivalentebi 

17



(aTas larSi) 

fuli da fulis eqvivalentebi Sedgeba naRdi fulis, moTxovnebis erovnuli bankisadmi, 

(savaldebulo rezervebis gamoklebiT) da sakredito dawesebulebebisadmi 

moTxovnebisgan, romelTac gaaCniaT gamoSvebidan 90 dRis vada da Tavisufalni arian 

sakontraqto valdebulebebisgan. 

warmoebuli finansuri instrumentebi 

Cveulebriv biznesis msvlelobisas jgufi awarmoebs gacvliT operaciebs warmoebuli 

finansuri instrumentebiT savaluto da fasiani qaRaldebis bazrebze. amgvari finansuri 

instrumentebi gamoiyeneba vaWrobisTvis, aRiarebulia finansuri instrumentebis 

politikis Tanaxmad da amdenad, fasdeba samarTliani RirebulebiT. samarTliani 

Rirebuleba ganisazRvreba kotirebuli sabazro RirebulebiT, an fasdadebis modelis 

Sesabamisad, sadac gaTvaliswinebulia am instrumentis mimdinare sabazro da 

sakontraqto fasi da sxva faqtorebi. warmoebuli fasiani qaRaldebi aisaxeba, rogorc 

aqtivebi, rodesac maTi samarTliani Rirebuleba dadebiTia, da rogorc valdebulebebi, 

roca maTi samarTliani Rirebuleba uaryofiTia. am instrumentebidan miRebuli 

Semosavlebi da xarjebi aisaxeba mogeba-zaralis konsolidirebul angariSgebaSi, 

rogorc savaWrod flobili fasiani qaRaldebidan mogebas gamoklebuli zarali an 

savaluto operaciebidan mogebas gamoklebuli zarali, gamomdinare instrumentis 

bunebidan. 

sxva finansur instrumentebSi CarTuli warmoebuli finansuri instrumentebi miCneulia 

calkeul warmoebul finansur instrumentebad da aRricxulia samarTliani 

RirebulebiT Tu maTi ekonomikuri maxasiaTeblebi da riskebi ar aris pirdapir 

dakavSirebuli kontraqtSi asaxul monacemebTan, da kontraqti Tavad ar aris savaWrod 

gamiznuli an asaxuli samarTliani RirebulebiT mogeba-zaralis konsolidirebuli 

angariSgebis gavliT. CarTuli warmoebuli finansuri instrumentebi, romlebic 

gancalkevebulia Zirisgan, aRiricxeba samarTliani RirebulebiT savaWrod gamiznul 

portfelSi da samarTliani Rirebulebis cvlileba asaxvas povebs mogeba-zaralis 


Tamasuqebi 

SeZenili Tamasuqebi gaerTianebulia savaWro fasian qaRaldebSi, an moTxovnebSi 

sakredito dawesebulebebis mimarT an momxmareblebze gacemul sesxebSi an gasayidad 

arsebul fasian qaRaldebSi, gamomdinare maTi ekonomikuri Sinaarsidan da aisaxeba im 

saaRricxvo politikis mixedviT, romelic misadagebulia aq TiToeuli CamoTvlili 

aqtivis jgufisaTvis. 

sesxebi 

gamoSvebuli finansuri instrumentebi an maTi komponentebi klasificirebulia rogorc 

valdebulebebi, rodesac sakontraqto garigebebis Sedegad jgufs warmoeSoba fuladi an 

sxvagvari valdebuleba mflobelis winaSe, an rodesac jgufi awarmoebs gacvliT 

operaciebs sakuTari kapitalis instrumentebiT. amgvari instrumentebi moicaven 


valdebulebebs sakredito dawesebulebebisa da meanabreebis winaSe, aseve gamoSvebul 

sasesxo fasian qaRaldebs. aRniSnuli Tavdapirvelad aRiarebulia miRebuli safasuris 

samarTliani RirebulebiT, rasac akldeba pirdapir dakavSirebuli garigebis xarjebi. 

Tavdapirveli aRiarebis Semdgom, sesxebis Sefaseba xdeba amortizebuli RirebulebiT, 

efeqturi saprocento ganakveTis gamoyenebiT. mogebisa da zaralis aRiareba mogebazaralis 

konsolidirebul angariSgebaSi xdeba valdebulebis Camowerisas, agreTve 

cveTis procesSi. 

Tu jgufi SeiZens Tavis sakuTar vals, is amoRebuli iqneba finansuri mdgomareobis 

angariSgebidan da sxvaoba valdebulebis sabalanso Rirebulebasa da gadaxdil 

uzrunvelyofas Soris aRiarebuli iqneba konsolidirebul mogeb-zaralis angriSgebaSi. 

18



(aTas larSi) 

ijara 

i. finansuri - jgufi rogorc meijare 

jgufi finansuri mdgomareobis konsolidirebul angariSgebaSiSi aRiarebs ijaridan 

misaReb Tanxebs fasiT, romelic tolia wminda investiciebisa finansur ijaraSi, ijaris 

vadis aTvlis TariRidan. wminda investicia finansur ijaraSi gamoinagariSeba 

minimaluri saijaro gadasaxadis mimdinare moculobiT, romlis daangariSebisas ijaris 

saprocento ganakveTSi gaTvaliswinebulia diskontirebis faqtori. sawyisi pirdapiri 

xarjebi gaTvaliswinebulia ijaridan misaReb TanxebSi. miRebuli saijaro gadasaxadebi 

ganawilebulia finansur Semosavalsa da saijaro moTxovnebis klebas Soris. finansuri 

Semosavali efuZneba princips, romelic asaxavs mudmivi periodulobis mqone Tanxis 

ganakveTs wminda investiciidan. 

ii. saoperacio - jgufi rogorc moijare 

aqtivebis ijara, romelTan mimarTebaSic mflobelobis riskebica da anazRaurebac aris 

moijaris xelSi, klasificirebulia rogorc saoperacio ijara. saoperacio ijaris 

saijaro Tanxebi aisaxeba wrfivi meTodiT, rogorc xarji grZelvadian periodSi da 

Sesulia administraciul da saoperacio xarjebSi. 

iii. saoperacio - jgufi rogorc meijare 

jgufi asaxavs saoperacio ijariT dasabegr aqtivebs finansuri mdgomareobis 

konsolidirebul angariSgebaSiSi aqtivis bunebis Sesabamisad. saijaro Semosavali 

saoperacio ijaridan aisaxeba mogeba zaralis angariSgebaSi wrfivi meTodiT ijaris 

periodSi rogorc sxva Semosavali. moijarisaTvis SeTavazebuli stimulirebis xarjebi 

aisaxeba rogorc saijaro Semosavlis Semcireba ijaris periodSi wrfivi meTodiT. 

sawyisi pirdapiri xarjebi, romlebic warmoSobilia specifiurad Semosavlis misaRebad 

saoperacio ijaridan, emateba ijariT aRebuli aqtivis sabalanso Rirebulebas. 

finansuri aqtivebis gaufasureba 

jgufi sabalanso angariSgebis Sedgenis TariRiT asaxavs finansuri aqtivebisa Tu 

finansuri aqtivebis jgufis gaufasurebas. 

finansuri aqtivi Tu finansuri aqtivebis jgufi gaufasurebulad miiCneva mxolod maSin, 

Tu arsebobs raime faqtis (faqtebis) Sedegad gamowveuli gaufasurebis obieqturi 

safuZveli, romelsac (romelTac) adgili hqonda aqtivis Tavdapirveli aRiarebis 

Semdgom (warmoSobili “zaralis faqti”) da zaralis faqts (faqtebs) gavlena aqvs 

finansuri aqtivisa Tu finansuri aqtivebis jgufis savaraudo samomavlo fulad 

nakadebze, romelTa sarwmunod gansazRvrac SesaZlebelia. gaufasurebis safuZveli 

SesaZloa migvaniSnebdes, rom msesxebeli Tu msesxebelTa jgufi ganicdis finansur 

sirTuleebs, arRvevs procentisa Tu ZiriTadi Tanxis dafarvis ganrigs, arsebobs misi 

gakotrebis albaToba da sxva, an Tu savaraudoa samomavlo fuladi nakadebis kleba 

ekonomikuri pirobebis cvlilebidan gamomdinare, rac gamoiwvevs sakontraqto pirobebis 

darRvevas. 


moTxovnebi sakredito dawesebulebebis mimarT da klientebze gacemuli sesxebi 

amortizebuli RirebulebiT aRricxuli, sakredito dawesebulebebis mimarT moTxovnebis 

da klientebze gacemuli sesxebis Sefasebisas jgufi Tavdapirvelad individualurad 

adgens arsebobs Tu ara gaufasurebis obieqturi safuZveli individualurad 

mniSvnelovani finansuri aqtivebisTvis an koleqtiurad aramniSvnelovnad miCneuli 

finansuri aqtivebisaTvis. Tu dadginda, rom gaufasurebis obieqturi safuZveli ar 

arsebobs, aqtivis CarTva xdeba finansuri aqtivebis jgufSi romelsac gaaCnia 

analogiuri sakredito riskebi da am finansuri aqtivebis jgufis Sefaseba 

gaufasurebasTan mimarTebaSi xdeba koleqtiurad. aqtivebi, romelTa Sefaseba 

gaufasurebasTan mimarTebaSi xdeba individualurad da romelTaTvisac xdeba 

19



(aTas larSi) 

gaufasurebis xarjis aRiareba, ar aris CarTuli gaufasurebasTan mimarTebaSi aqtivebis 

koleqtiuri Sefasebis procesSi. 

Tu arsebobs gaufasurebis xarjis warmoSobis obieqturi safuZveli, zaralis Tanxa 

aRiricxeba rogorc sxvaoba aqtivis sabalanso Rirebulebasa da samomavlo fuladi 

nakadebis mimdinare Rirebulebas Soris (mosalodneli samomavlo sakredito zaralis 

gamoklebiT, romelsac jer adgili ar hqonia). aqtivis sabalanso Rirebuleba mcirdeba 

gaufasurebis rezervis gamoyenebiT, xolo zaralis Tanxa aRiarebulia mogeba-zaralis 

konsolidirebul angariSgebaSi. saprocento Semosavali ericxeba Semcirebul sabalanso 

Rirebulebas aqtivis Tavdapirvel efeqtur saprocento ganakveTze dayrdnobiT. sesxebi 

dakavSirebul rezervTan erTad Camoiwereba maSin, rodesac maTi amoReba aRar aris 

realurad mosalodneli. Tu gaufasurebis xarji izrdeba an mcirdeba gaufasurebis 

aRiarebis Semdgomi movlenis gamo, uwin aRiarebuli gaufasurebis xarji izrdeba an 

mcirdeba gaufasurebis rezervis koreqtirebiT. Tu momavalSi moxerxda Camowerili 

Tanxis amoReba, igi kreditdeba mogeba-zaralis konsolidirebul angariSgebaSi. 

mosalodneli samomavlo fuladi nakadebis mimdinare Rirebuleba diskontirebulia 

finansuri aqtivis Tavdapirveli efeqturi saprocento ganakveTiT. Tu sesxs gaaCnia 

cvladi saprocento ganakveTi, diskontis ganakveTi gaufasurebis xarjis Sesafaseblad 

warmoadgens mimdinare efeqtur saprocento ganakveTs. uzrunvelyofili finansuri 

aqtivis samomavlo fuladi nakadebis mimdinare Rirebulebis gamoTvla asaxavs fulad 

nakadebs, romlebic gamomdinareobs gamoyenebuli uzrunvelyofidan, rasac akldeba 

uzrunvelyofis miRebasTan da realizaciasTan dakavSirebuli xarjebi, imisda 

miuxedavad, mosalodnelia Tu ara uzrunvelyofis gamoyeneba. 

gaufasurebis koleqtiurad Sefasebis mizniT, finansuri aqtivebi dajgufebulia Sida 

sakredito rangirebis sistemaze dayrdnobiT, romelic iTvaliswinebs sakredito riskis 

maxasiaTeblebs, rogorebicaa aqtivis tipi, seqtori, geografiuli mdebareoba, 

uzrunvelyofis tipi, vadagadacilebis statusi da sxva. 

gaufasurebasTan mimarTebaSi koleqtiurad Sefasebuli finansuri aqtivebis samomavlo 

fuladi nakadebi gansazRvrulia msgavsi sakredito riskis maxasiaTeblebis mqone 

aqtivebis istoriuli zaralis Sesabamisad. istoriuli zarali koreqtirdeba arsebul 

monacemebze dayrdnobiT, raTa asaxul iqnas mimdinare pirobebis gavlena, xolo is 

garemoebebi, romlebic amJamad aRar arsebobs, ar iyos gaTvaliswinebuli. samomavlo 

fuladi nakadebis savaraudo cvlilebebi asaxavs da Seesabameba imgvar monacemebs, 

rogorebicaa umuSevrobis ganakveTi, uZravi qonebis fasi, saqonlis fasi, 

gadaxdisunarianoba da sxva. samomavlo fuladi nakadebis Sefasebis meTodologiis da 

daSvebebis, (romlebic gamoiyeneba samomavlo fuladi nakadebis gansazRvris mizniT) 

gadaxedva xdeba regularulad, gansazRvrul da realur zarals Soris sxvaobis 

Semcirebis mizniT. 

dafarvis vadamde flobili finansuri investiciebi 

dafarvis vadamde flobili investiciebisaTvis, jgufi individualurad afasebs arsebobs 

Tu ara gaufasurebis obieqturi safuZveli. Tu arsebobs gaufasurebis xarjis 


warmoSobis obieqturi safuZveli, zaralis Tanxa aRiricxeba rogorc sxvaoba aqtivis 

sabalanso Rirebulebasa da samomavlo fuladi nakadebis mimdinare Rirebulebas Soris. 

aqtivis sabalanso Rirebuleba mcirdeba da zaralis Tanxa aRiarebulia mogeba-zaralis 


Tu momaval periodSi savaraudo gaufasurebis moculoba mcirdeba gaufasurebis 

aRiarebis Semdgomi movlenis gamo, uwin daricxuli nebismieri Tanxa kreditdeba mogebazaralis 


gasayidad arsebuli finansuri aqtivebi 

20



(aTas larSi) 

gasayidad asrebuli finansuri incvesticiebisTvis, jgufi yoveli angariSgebis 

TariRisTvis afasebs arsebobs Tu ara obieqturi mtkicebuleba, rom investicia an 

investiciebis jgufi gaufasurebulia. 

im SemTxvevaSi, Tu sainvesticio inveticiebi klasificirebuli iqneba rogorc gasayidad 

arsebuli, obieqturi mtkicebuleba unda moicavdes investiciis samarTliani 

Rirebulebis Tavis RirebulebasTan SedarebiT mniSvnelovan an gaxangrZlivebul klebas. 

roca arsebobs gaufasurebis mtkicebuleba, kumulaciuri danakargi – romelic izomeba 

rogorc SeZenis xarjebsa da arsebul samarTlian Rirebulebas Soris sxvaobas 

gamoklebuli nebismieri an inveticiaze Rirebulebis SemcirebiT gamowveuli zarali, 

romelic adre aRiarebuli iyos mogeba-zaralis konsolidirebul angariSgebaSi – 

reklasificirdeba sxva sruli Semosavlidan mogeba-zaralis konsolidirebul 

angariSgebaSi. saaqcio investirebasTan dakavSirebiT Rirebulebis SemcirebiT 

gamowveuli zarali ar icvleba mogeba-zaralis konsolidirebuli angariSgebis 

saSualebiT; maT samarTlian RirebulebaSi gaufasurebis Semdeg zrda aRiarebulia sxva 

mTlian SemosavalSi. 

gasayidad arsebuli finansuri aqtivebis gaufasurebis dros, Tanxa romelic moicavs 

sxvaobas aqtivis Rirebulebasa (ZiriTadi Tanxis yvela Semdgomi dafarva da 

amortizacia) da mis mimdinare samarTlian Rirebulebas Soris, gamoklebuli 

gaufasurebis xarji, romelic wina periodSi aRricxulia mogeba-zaralis 

konsolidirebul angariSgebaSi, gadaitaneba kapitalidan mogeba-zaralis 

konsolidirebul angariSgebaze. gasayidad arsebul kapitalis instrumentebTan 

mimarTebaSi, Sebruneba ar aris aRricxuli mogeba-zaralis konsolidirebul 

angariSgebaSi. gaufasurebis xarjis Sebruneba sasesxo instrumentebze xdeba 

konsolidirebuli mogeba-zaralis angariSgebis gavliT, Tu instrumentis samarTliani 

Rirebulebis mateba SeiZleba daukavSirdes gaufasurebis xarjis mogeba-zaralis 

konsolidirebul angariSgebaSi aRricxvis Semdgom movlenas. 

xelaxla SeTanxmebuli sesxebi 

Tu SesaZlebelia, jgufma uzrunvelyofis aRebis nacvlad, unda moaxdinos valebis 

restruqturizacia. aman SesaZloa gamoiwvios gadaxdis RonisZiebebis gagrZeleba da 

axali sesxis pirobebis SeTanxmeba. 

aseTi restruqturizaciis sabuRaltro aRricva Semdegnairia: 

• Tu sesxis valuta Seicvleba, Zveli sesxis aRiareba gauqmdeba da aRiarebuli iqneba 

axali sesxi. 

• Tu sesxis restruqturizacia ar aris gamowveuli msesxebelis finansuri 

sirTuleebiT, jgufi iyenebs imave meTods, romelsac iyenebs qvemoT aRwerili 

finansuri valdebulebebisTvis. 

• Tu restruqturizacia gamowveulia msesxebelis finansuri sirTuleebiT da sesxi 

Semcirdeba restruqturizaciis Semdeg, jgufi aRiarebs axali diskontirebuli 

fuladi saxsrebis nakadebis arsebul Rirebulebebs Soris sxvaobas Tavdapirveli 

efeqturi saprocento ganakveTis gamoyenebiT da nominaluri RirebulebiT. Tu 

sesxis ar Semcirdeba restruqturizaciis Semdeg, jgufi xelaxla gadaiangariSebs 

efeqtur saprocenti ganakveTs. 


mas Semdeg, rac moxdeba sesxis pirobebis xelaxali SeTanxmeba, sesxi aRar miiCneva 

vadagadacilebulad. xelmZRvaneloba mudmivad axdens xelaxla SeTanxmebuli sesxebis 

monitorings, raTa darwmundes rom Sesrulebulia yvela piroba da samomavlo dafarvebi 

mosalodnelia. gaufasurebasTan mimarTebaSi sesxebi kvlavac fasdeba individualurad an 

koleqtiurad da SefasebisTvis gamoiyeneba sesxis Tavdapirveli efeqturi saprocento 

ganakveTi. 


finansuri aqtivis (an, sadac misaRebia, finansuri aqtivis nawilis an analogiuri 

finansuri aqtivebis jgufis nawilis) Camowera xdeba Tu: 

21



(aTas larSi) 

• amoiwura aqtivis mier fuladi saxsrebis Semotanis vada; 

• jgufma gadasca aqtivis mier fuladi saxsrebis Semotanis ufleba, an daitova amgvari 

ufleba, magram aiRo Tanxebis srulad da dagvianebis gareSe mesame pirebisaTvis 

gadaxdis saxelSekrulebo valdebuleba; da 

• jgufis mier (a) gadacemul iqna aqtivTan dakavSirebuli yvela riski da sargebeli; 

(b) jgufis mier gadacemul iqna aqtivze kontroli. 

im SemTxvevaSi, rodesac jgufis mier gadacemul iqna aqtividan fuladi saxsrebis 

miRebis ufleba da ar momxdara riskebisa da sargeblis da aqtivze kontrolis arc 

gadacema da arc SenarCuneba, jgufis mier aqtivis aRiareba xdeba Semdgomi gamoyenebis 

pirobiT. Semdgomi gamoyeneba, romelsac gaaCnia gadacemul aqtivze erTgvari garantiis 

forma, aisaxeba aqtivis umciresi sabalanso RirebulebiT da im maqsimaluri Tanxis 

gaTvaliswinebiT, romlis gadaxdac SesaZloa dasWirdes jgufs. 

rodesac Semdgomi gamoyeneba miiRebs gadacemul aqtivze werilobiTi da/an SeZenili 

ofcionis formas (fuladi ofcionebis an msgavsi sakontraqto pirobebis saxiT), jgufis 

CarTulobis xarisxi warmoadgens im gadacemuli aqtivis Tanxas, romliTac SesaZlebelia 

aqtivis gamosyidva. Tumca, im SemTxvevaSi, rodesac arsebobs werilobiTi miwodebis 

ofcioni (fuladi ofcionebis an msgavsi sakontraqto pirobebis saxiT) samarTliani 

RirebulebiT asaxul aqtivze, jgufis CarTulobis xarisxi Semoifargleba gadacemuli 

aqtivebis samarTlian Rirebulebasa da ofcionis saaRsrulebo fass Soris umciresiT. 

finansuri valdebulebebi 

finansuri valdebulebebis Camowera xdeba maSin, rodesac valdebulebebi aqtivTan 

mimarTebaSi baTildeba an amoiwureba. 

rodesac arsebul finansur valdebulebas kreditorTan cvlis meore, mniSvnelovnad 

Secvlili pirobebiT, an, Tu mimdinare valdebulebis pirobebi mniSvnelovnad icvleba, 

amgvari cvlileba Tu modifikacia gulisxmobs sawyisi valdebulebis Camoweras da 

axali valdebulebis asaxvas, xolo Sesabamisi sabalanso Rirebulebis sxvaoba aisaxeba 

mogeba-zaralis konsolidirebul angariSgebaSi. 

finansuri garantiebi 

biznesis warmoebis Cveulebriv procesSi jgufi gascems finansur garantiebs 

akreditivebisa da garantiebis saxiT. finansuri garantiebi konsolidirebul finansur 

angariSgebaSi aRiricxebian samarTliani RirebulebiT, „sxva valdebulebebSi“, rogorc 

miRebuli premia. Tavdapirveli aRiarebis Semdgom, jgufis valdebulebebi yoveli 

garantiisTvis izomeba amortizebul premiasa da im xarjebis maqsimalurad zust 

gaTvlas Soris umetesiT, romelic saWiro iqneba garantiidan warmoSobili finansuri 

valdebulebis dasafarad. 

yoveli mateba valebulebebSi, rac dakavSirebulia finanansur garantiebTan aisaxeba 

mogeba-zaralis konsolidirebul angariSgebaSi. miRebuli premia aRiarebulia mogebazaralis 

konsolidirebul angariSgebaSi wrfivi meTodis gamoyenebiT garantiis 

sasargeblo momsaxurebis xangrZlivobis Sesabamisad. 

gadasaxadebi 

mimdinare mogebis gadasaxadis daangariSeba xdeba saqarTvelos sagadasaxado kodeqsis 

Sesabamisad. 

gadavadebuli aqtivebisa da valdebulebebis daangariSeba xdeba mimdinare sxvaobebTan 

mimarTebaSi valdebulebaTa meTodis gamoyenebiT. gadavadebuli mogebis gadasaxadebi 

gaTvaliswinebulia yvela droebiT sxvaobaze, romelic warmoiSoba aqtivebisa da 

valdebulebebis sagadasaxado dasabegr safuZvelsa da maT sabalanso Rirebulebas 

Soris finansuri angariSgebis miznebisaTvis, garda im SemTxvevisa, rodesac 

gadavadebuli mogebis gadasaxadi warmoiSoba gudvilis Tavdapirveli aRiarebidan Tu 

22



(aTas larSi) 

aqtivisa da valdebulebidan im operaciaSi, romelic ar aris sawarmoTa gaerTianeba da 

operaciis TariRisaTvis gavlenas ar iqoniebs saaRricxvo mogebasa Tu dasabegr mogebazaralze. 

gadavadebuli sagadasaxado aqtivi aisaxeba im pirobiT, Tu arsebobs albaToba dasabegri 

mogebisa, romliTac SesaZlebeli iqneba droebiTi gamoqviTvadi sxvaobebis dafarva. 

gadavadebuli sagadasaxado aqtivebi da valdebulebebi aRiricxeba sagadasaxado 

ganakveTebiT, romelTa gamoyenebac mosalodnelia aqtivis realizaciisa da 

valdebulebis dafarvis periodSi im ganakveTebze dayrdnobiT, romlebic dadginda 

balansis Sedgenis dRes. 

gadavadebuli mogebis gadasaxadi warmodgenilia droebiT sxvaobebze, romlebic 

warmoiSoba investiciebidan Svilobil kompaniebSi, mokavSire da erTobliv sawarmoebSi, 

garda im SemTxvevisa, rodesac SesaZloa gakontrolebul iqnas droebiTi sxvaobis 

Sebrunebis dro da axlo momavalSi Sebruneba ar aris mosalodneli. 

saqarTveloSi, ukrainaSi, belorusiasa da kviprosSi moqmedebs rigi saoperacio 

gadasaxadebisa, romlebic jgufis saqmianoabasTanaa dakavSirebuli. aRniSnuli 

gadasaxadebi CarTulia sxva saoperacio xarjebSi komponentis saxiT. 

sainvesticio qoneba 

jgufi flobs sainvesticio ZiriTad saSualebebs saijaro Semosavlisa an kapitalis 

zrdisaTvis. sainvesticio ZiriTadi saSualebebi Tavdapirvelad aRiricxeba 

TviTRirebulebiT, Semdgomi xarjebis CaTvliT. Tavdapirveli aRiarebis Semdgom, 

sainvesticio ZiriTadi saSualebebi aRiricxeba samarTliani RirebulebiT. sainvesticio 

ZiriTadi saSualebebis samarTliani Rirebulebis cvlilebidan warmoSobili mogeba an 

zarali CarTulia mogeba-zaralis konsolidirebul angariSgebaSi, rogorc 

“sainvesticio ZiriTadi saSualebebis gadafasebidan miRebuli mogeba Semosuloba.” 

ZiriTadi saSualebebi 

ZiriTadi saSualebebi aRricxulia sabalanso RirebulebiT garda yoveldRiuri 

momsaxurebis xarjebisa, rasac akldeba akumulirebuli cveTa da akumulirebuli 

gaufasurebis moculoba. amgvari Tanxa moicavs ZiriTadi saSualebebis Canacvlebis 

Rirebulebas, rodesac xarji warmoiSoba Tu aRiarebis kriteriumebi daculia. Senobanagebobebi 

Sefasebulia samarTliani RirebulebiT, gamoklebuli cveTa da gaufasurebis 

ganakeTi gadafasebis TariRis Semdgom. 

ZiriTadi saSualebebis sabalanso Rirebulebis gadaxedva xdeba gadafasebasTan 

mimarTebaSi, rodesac movlenebi an garemoebaTa cvlilebebi mianiSneben, rom sabalanso 

Rirebulebis aRdgena SesaZloa ver moxerxdes. 

Tavdapirvelad TviTRirebulebiT aRiarebis Semdgom, Senoba-nagebobebi aisaxeba 

gadafasebuli RirebulebiT, rac warmoadgens maT samarTlian Rirebulebas gadafasebis 


TariRisaTvis, gamoklebuli SemdgomSi akumulirebuli cveTisa da gaufasurebis xarji. 

Sefaseba xdeba sakmaod xSirad imisaTvis, raTa uzrunvelyofil iqnas faqti, rom 

gadafasebuli aqtivis samarTliani Rirebuleba arsebiTad ar gansxvavdeba misi 

sabalanso Rirebulebisgan. 

gadafasebis nebismieri metoba kreditdeba kapitalSi CarTuli ZiriTadi saSualebebis 

gadafasebis rezervze, garda im SemTxvevisa, rodesac xdeba uwin mogeba-zaralis 

konsolidirebul angariSgebaSi CarTuli aqtivis gadafasebisas misi moculobis klebis 

Sebruneba. am SemTxvevaSi, mateba aRiarebulia mogeba-zaralis konsolidirebul 

angariSgebaSi. gadafasebis deficiti aRiarebulia mogeba-zaralis konsolidirebul 

angariSgebaSi, garda im SemTxvevisa, rodesac deficiti pirdapir qviTavs imave aqtivze 

uwin aRiarebul matebas, da gamoiqviTeba ZiriTadi saSualebebis gadafasebis rezervidan. 

23



(aTas larSi) 

ZiriTadi saSualebebis gadafasebis rezervidan wliuri gadatana gaunawilebel mogebaze 

xdeba aqtivis gadafasebuli sabalanso Rirebulebis cveTasa da aqtivis Tavdapirveli 

Rirebulebis cveTas Soris sxvaobiT. damatebiT, gadafasebis TariRisaTvis 

akumulirebuli cveTa iqviTeba aqtivis jamur sabalanso RirebulebasTan da xdeba misi 

wminda TanxiT xelaxla asaxva. gayidvisas, calkeul aqtivTan dakavSirebuli mTliani 

gadafasebis rezervi gadaitaneba gaunawilebel mogebaze. 

aqtivebis cveTa iricxeba im TariRidan, rodesac xdeba aqtivis momsaxurebaSi gaSveba. 

cveTis daricxva xdeba wrfivi meTodiT, ZiriTadi saSualebebis sasargeblo momsaxurebis 

xangrZlivobis Semdegi maCveneblebis mixedviT 

weli 

Senobebi 100 

wlamde 

aveji da mowyobilobebi 10 

kompiuterebi da saofise teqnika 5 

satransporto saSualebebi 5 

aqtivebis narCeni Rirebulebis, sasargeblo momsaxurebis xangrZlivobisa da meTodebis 

gadaxedva da Sesabamisad koreqtireba saWiroebisamebr xdeba yoveli finansuri wlis 

bolos.. 

saijaro gaumjobesebebis amortizacia xdeba dakavSirebuli saijaro aqtivis sasargeblo 

momsaxurebis xangrZlivobis Sesabamisad. 

SekeTeba-ganaxlebasTan dakavSirebuli xarjebi iricxeba warmoSobisas da maTi CarTva 

xdeba sxva saoperacio xarjebSi Tu ar arsebobs maTi kapitalizaciis safuZveli. 

gudvili 

biznesis gaerTianebisas warmoSobili gudvili warmoadgens jgufis Svilobil 

kompaniaSi amocnobadi aqtivebis, valdebulebebis da pirobiT valdebulebebis wminda 

samarTliani Rirebulebis wilsa da biznesis gaerTianebasTan dakavirebuli xarjis 

sxvaobas Sesyidvis TariRisaTvis. Svilobili kompaniis SesyidvasTan dakavSirebuli 

gudvili CarTulia aramaterialur aqtivebSi. mokavSire sawarmoebis SesyidvasTan 

dakavSirebuli gudvili CarTulia investiciebSi mokavSire sawarmoebSi. Tavdapirveli 

aRiarebis Semdgom, gudvili aRiricxeba TviTRirebulebiT, rasac akldeba nebismieri 

daricxuli gaufasurebis xarji. 

gaufasurebasTan mimarTebaSi gudvilis gadaxedva xdeba yovelwliurad an ufro xSirad, 

Tu movlenebi da garemoebebis cvlilebebi miuTiTeben mimdinare Tanxebis gaufasurebis 

Sesaxeb. 


gaufasurebis Semowmebis miznebisaTvis, biznesis gaerTianebisas daricxuli gudvili, 

Sesyidvis TariRidan gadanawildeba jgufis fuladi nakadebis momtan biznes 

erTeulebze, an fuladi nakadebis momtan biznes erTeulTa jgufebze, romlebic 

savaraudod isargebleben gaerTianebis procesiT, imisda miuxedavad ganekuTvneba Tu ara 

jgufis sxva aqtivebi da valdebulebebi aRniSnul biznes erTeulebs Tu biznes 

erTeulTa jgufebs. amgvari danayofebi, romelTac ericxebaT gudvili warmoadgenen: 

• warmoadgens jgufis qveda dones, sadac gudvilis monitoringi xdeba menejmentis 

Sida miznebisaTvis; da 

• ar aRemateba segments, romelic gansazRvrulia fass 8-Si `moqmedi segmentebi» 

gudvilis gaufasureba ganisazRvreba im fuladi nakadebis momtani biznes erTeulis 

(erTeulTa jgufis) aRdgenadi Rirebulebis SefasebiT, romelsac ganekuTvneba gudvili. 

24



(aTas larSi) 

roca fuladi nakadebis momtani ganyofilebis anazRaurebadi Tanxa sabalanso 

Rirebulebaze naklebia, gaufasurebiT gamwoebvuli zaralia aRiarebulia. gaufasurebiT 

gamowveuli danakargebi ver aRdgena momavalSi. 

sxva aramaterialuri aqtivebi 

jgufis sxva aramaterialuri aqtivebi warmoadgens programul uzrunvelyofas. 

programuli uzrunvelyofis aRricxva xdeba TviTRirebulebiT, xolo amortizacia 

wrfivi meTodiT, sasargeblo momsaxurebis xangrZlivobis manZilze, rac ar unda 

aRematebodes aT wlian periods. 

calkeuli gaunawilebeli mogebis Sefaseba xdeba Tavdapirveli aRiarebisas 

TviTRirebulebiT. biznesis gaerTianebisas warmoSobili gaunawilebeli mogebis 

moculoba warmoadgens Sesyidvis dRes arsebul samarTlian Rirebulebas. Tavdapirveli 

aRiarebis Semdgom, aramaterialuri aqtivebi aRiricxeba TviTRirebulebiT, rasac 

akldeba akumulirebuli amortizacia da akumulirebuli gaufasurebis xarji. 

aramaterialuri aqtivebis sasargeblo momsaxurebis xangrZlivoba Sefasebulia 

gansazRvruli Tu ganusazRvreli vadiT. vadiani aramaterialuri aqtivebi amortizebulia 

sasargeblo momsaxurebis xangrZlivobis - 4-10 wlis ganmavlobaSi da maTi Sefaseba 

gaufasurebasTan mimarTebaSi xdeba amgvari indikaciis arsebobisas. vadiani 

aramaterialuri aqtivebis amortizaciis periodikisa da meTodebis gadaxedva xdeba sul 

mcire yoveli fiskaluri wlis bolos. 

ganusazRvreli momsaxurebis xangrZlivobis mqone aramaterialuri aqtivebis amortizeba 

ar xdeba, Tumca xdeba maTi gaufasurebasTan mimarTebaSi yovelwliurad Semowmeba, 

individualurad an fuladi nakadebis gamomuSavebeli biznes erTeulis doneze, aqtivis 

mimdinare momsaxurebis xangrZlivobis statusis dadasturebis mizniT. 

programuli uzrunvelyofis SenaxvasTan dakavSirebuli xarjebi aRiricxeba xarjebSi 

warmoSobisas. programuli uzrunvelyofis ganviTarebis Rirebuleba (dakavSirebuli 

axali an mniSvnelovnad gaumjobesebuli uzrunvelyofis dizainsa da testirebasTan) 

aRiarebulia rogorc aramaterialuri aqtivebi mxolod maSin, rodesac jgufs gaaCnia am 

procesis bolomde miyvanis unari da zraxva im moculobiT, rom SesaZlebeli iyos 

aqtivis gamoyeneba Tu gayidva, rom aqtivs SeeZlos samomavlo ekonomikuri sargeblis 

motana, ganviTarebis xarjebis gaTvaliswinebiT. sxva saxis programuli uzrunvelyofis 

aRricxva xdeba xarjebSi warmoSobisas. 

dazRvevisa da gadazRvevis moTxovnebi 

dazRvevisa da gadazRvevis moTxovnebi aRiarebulia sadazRvevo polisis pirobebis 

Sesabamisad da aRricxulia TviTRirebulebiT. dazRvevisa da gadazRvevis moTxovnebis 

sabalanso Rirebulebis gadaxedva gaufasurebasTan mimarTebaSi xdeba maSin, rodesac 

movlenebi an garemoebebi miuTiTebs, rom sabalanso Rirebulebis aRdgena SesaZloa ver 


moxerxdes. nebismieri gaufasurebis xarji aRiricxeba mogeba-zaralis konsolidirebul 


gadazRvevis moTxovnebi ZiriTadad moicavs sadazRvevo kreditis daufaravi naSTebis 

moTxovnebs rogorc sadazRvevo, aseve gadamzRvevi kompaniebisagan. gadazRvevis premiis 

aRiareba xdeba Semosavlad ise, rogorc es moxdeboda, Tu gadazRveva miiCneoda pirdapir 

saqmianobad, gadazRveuli saqmianobis produqciis klasifikaciis gaTvaliswinebiT. 

valdebulebebi gadamzRvevTa winaSe Sefasebulia asocirebuli polisebidan da 

gadazRvevis xelSekrulebidan gamomdinare. gadaxdili premia da anazRaurebuli 

pretenziebi warmodgenilia jamurad. 

25



(aTas larSi) 

gaufasurebis gadaxedva xdeba yvela gadazRvevis aqtivze, gaufasurebis indikaciis 

warmoSobisas. gadazRvevis moTxovnebis gaufasureba xdeba mxolod im SemTxvevaSi, Tu 

arsebobs obieqturi safuZveli, rom jgufi ver miiRebs Tanxas aRniSnuli 

saxelSekrulebo moTxovnidan da SesaZlebelia Tanxis sarwmunod gansazRvra. 

sadazRvevo valdebulebebi 

zogadi sadazRvevo valdebulebebi 

zogadi sadazRvevo saxelSekrulebo valdebulebebi gamomdinareobs im savaraudo 

pretenziebis maqsimaluri Rirebulebidan, romlebic warmoiSva, magram ar dafarula 

balansis Sedgenis TariRisaTvis, imisda miuxedavad, gancxadebulia isini, Tu ara, 

anazRaurebasTan dakavSirebul xarjebTan erTad da amoRebis mosalodneli TanxiT 

Semcirebis gaTvaliswinebiT. rigi zogadi sadazRvevo moTxovnebis miwodeba da 

anazRaureba SesaZloa mniSvnelovnad dagviandes. ZiriTadad es exeba pasuxismgeblobis 

dazRvevas da garemos dacvasTan dakavSirebul saqmianobas, Sesabamisad, maqsimaluri 

Rirebuleba SesaZloa ar iyos zustad gansazRvruli balansis Sedgenis TariRisaTvis. 

gamoumuSavebeli premiebis rezervebi 

gamowerili premiebis proporcia, maT Soris SuamavlebisaTvis gadasaxdeli sakomisio, 

romelic ganekuTvneba Sesabamis periodebs, gadavadebulia, rogorc gamoumuSavebeli 

premia. gamoumuSavebeli premiis rezervis cvlileba Setanilia mogeba-zaralis 

konsolidirebul angariSgebaSi, raTa mogeba aRiarebul iqnas riskis periodSi, an 

anuitetis SemTxvevaSi, momavali gadaxdebis ganmavlobSi. 

valdebulebis adeqvaturobis Semowmeba 

balansis Sedgenis dRes xorcieldeba valdebulebis adeqvaturobis Semowmeba 

gamoumuSavebeli premiebis adeqvaturobis uzrunvelyofis mizniT, dakavSirebuli 

gadavadebuli SeZenis Rirebulebis gauTvaliswineblad. Semowmebisas gamoiyeneba 

samomavlo sakontraqto fuladi nakadebis mimdinare Sefaseba, pretenziebis anazRaurebis 

da polisis administrirebis xarjebi, iseve rogorc, sainvesticio Semosavali aRniSnuli 

valdebulebebis uzrunvelsayofad arsebuli aqtivebidan. nebismieri araadekveturoba 

ericxeba mogeba-zaralis konsolidirebul angariSgebas riskis rezervis Seqmnis gziT. 

rezervebi 

rezervebis aRiareba xdeba maSin, rodesac jgufs gaaCnia warsuli movlenidan 

gamomdinare mimdinare Tu mosalodneli iuridiuli valdebuleba da savaraudoa 

ekonomikuri sargeblis mqone resursebis gadineba valdebulebis dasafarad, aseve 

SesaZlebelia valdebulebis Tanxis sarwmunod gansazRvra. 


balans gareSe valdbulebebze warmoqmnili danakargebis riskis rezervebi fasdeba 

regularulad am valdebulebebze warsurSi warmoqmnili faqtobrivi danakargebis 

safuZvelze. 

sapensio da sxva valdebulebebi TanamSromelTa winaSe 

jgufs gaaCnia saxelmwifo sapensio sqemisgan damoukidebeli sapensio sqema. bankis 

gansazRvruli Senatanis mqone sapensio sqema moicavs ZiriTadad srul ganakveTze myof 

TanamSromlebs. jgufi agrovebs Senatanebs misi TanamSromlebisgan. rodesac 

TanamSromeli miaRwevs sapensio asaks, xdeba dagrovili Senatanebis TanamSromlisTvis 

26



(aTas larSi) 

gadaxda masTanve SeTanxmebuli ganrigis Sesabamisad. dagrovili Senatanebi 

gadanawilebulia TanamSromlis mier Tanxis miRebis periodze. 

aqciebiT warmoebul gadaxdebze dafuZnebuli garigebebi 

jgufis TanamSromlebi (zeda rgolis xelmZRvanelebis CaTvliT) Rebuloben 

anazRaurebas aqciebze dafuZnebuli garigebebidan, rodesac TanamSromlebi ewevian 

momsaxurebas kapitalis instrumentebis safasurad (kapitaliT warmoebul 

angariSsworebaze dafuZnebuli garigebebi). 

kapitaliT warmoebul angariSsworebaze dafuZnebuli garigebebi 

TanamSromlebTan kapitaliT warmoebul angariSsworebaze dafuZnebuli garigebebis fasi 

aRricxulia samarTliani RirebulebiT im TariRiT, rodesac moxda maTi miReba. 

kapitaliT warmoebuli garigebebis fasi aRricxulia Sesabamisi kapitalis zrdasTan 

erTad, im periodis ganmavlobaSi, rodesac moxda momsaxurebis gaweva/valdebulebebis 

Seruleba. es periodi sruleba maSin, rodesac Sesabamisi TanamSromeli mTlianad 

uflebamosilia miiRos premia ("ZalaSi Sesvlis TariRi"). ZalaSi Sesvlis TariRisaTvis, 

yovel sabalanso wels aRiarebuli kapitaliT warmoebuli garigebebis mTliani xarji 

damokidebulia ZalaSi yofnis mTliani periodis gasvlasa da wilobrivi instumentebis 

raodenobis Sefasebaze. mogeba-zaralis konsolidirebul angariSgebaSi asaxuli xarji 

Tu Semosavali warmoadgens mTliani xarjis cvlilebas periodis dasawyisidan bolomde. 

ZalaSi Sesvlamde ar xdeba premiis xarjis aRiareba, garda im SemTxvevebisa, rodesac 

uflebamosilebis miniWeba damokidebulia sabazro pirobebze, gaTvaliswinebiT imisa, rom 

yvela danarCeni piroba Sesrulebulia. es SemTxveva miiCneva uflebamosilebis miniWebad, 

miuxedavad imisa, dakmayofilebulia Tu ara sabazro pirobebi. 

rodesac kapitaliT warmoebul angariSsworebaze dafuZnebuli premiebis pirobebi 

icvleba, minimaluri xarjis aRiareba xdeba im saxiT, TiTqos ar momxdariyos pirobebis 

cvlileba. garda amisa, xarjis aRiareba xdeba nebismieri koreqtirebisaTvis, romelic 

zrdis aqciebiT warmoebul gadaxdebze dafuZnebuli garigebebis mTlian samarTlian 

Rirebulebas an sxvagvarad warmoadgens TanamSromlis sargebels modifikaciis TariRiT. 

rodesac xdeba kapitalze dafuZnebuli premiis gauqmeba, is ZalaSi Sesulad miiCneva 

gauqmebis TariRiT, xolo nebismieri premiis xarjis im nawilis aRiareba, romlis 

aRiarebac jer ar momxdara xdeba myisierad. Tumca, Tu gauqmebul premias Caenacvleba 

axali, romelic gadacemis TariRisaTvis aRwerilia rogorc Canacvlebis premia, Zveli 

da axali premiebi moiazreba Tavdapirveli premiis koreqtirebebad, rogorc aRwerilia 

wina paragrafSi. 


saaqcio kapitali 


Cveulebrivi aqciebi klasificirebulia rogorc kapitali. gare xarjebi, pirdapir 

dakavSirebuli axali aqciebis gamoSvebasTan sawarmoTa gaerTianebisTvis gamoSvebuli 

aqciebis garda, aRricxulia rogorc gamoqviTvebi kapitalis Semosavlebidan. 

gamoSvebuli aqciebis nominalur Rirebulebaze meti nebismieri samarTliani 

27



(aTas larSi) 

Rirebulebis mqone miRebuli safasuri aRiricxeba, rogorc damatebiT Setanili 

kapitali. 

gamosyiduli sakuTari aqciebi 

rodesac jgufi an misi Svilobili kompania SeiZens jgufis wils, gadaxdili safasuri, 

dakavSirebul wminda saoperacio TanxebTan erTad gamoiqviTeba mTliani kapitalidan, 

rogorc gamosyiduli sakuTari aqciebi maT gauqmebamde an xelaxla gamoSvebamde. 

rodesac SemdgomSi xdeba aseTi aqciebis gayidva an xelaxla gamoSveba, xdeba miRebuli 

safasuris CarTva kapitalSi. gamosyiduli sakuTari aqciebi asaxulia saSualo Sewonili 

RirebulebiT. damatebiT Setanil kapitalTan mimarTebaSi premiebis koreqtirebiT 

dividendebi 

dividendebi aRiarebulia rogorc valdebuleba da gamoiqviTeba kapitalidan balansis 

Sedgenis TariRisaTvis mxolod maSin, Tu isini gancxadebulia balansis Sedgenamde 

periodSi an balansis Sedgenis TariRiT. dividendebi gancxadebulia, rodesac maTi 

SeTavazeba balansis Sedgenis TariRamde xdeba, an Tu isini SeTavazebulia an 

gancxadebulia balansis Sedgenis Semdgom periodSi, magram konsolidirebuli finansuri 

angariSgebis gamocemamde. 

angariSgebis wardgena segmentebis mixedviT 

segmentis mixedviT jgufis angariSgeba efuZneba Semdeg moqmed segmentebs: sacalo 

sabanko saqmianoba, korporatiuli sabanko saqmianoba, sabrokero saqmianoba, qonebis 

marTva, aqtivis marTva, dazRveva da korporatiuli centri 

pirobiTi valdebulebebi 

pirobiTi valdebulebebis aRiareba finansuri mdgomareobis konsolidirebul 

angariSgebaSiSi ar xdeba, Tu ar arsebobs valdebulebebis dasafari resursebis 

gadinebis safuZveli, romelic SeiZleba sarwmunod Sefasdes. pirobiTi aqtivebis 

aRiareba ar xdeba finansuri mdgomareobis konsolidirebul angariSgebaSiSi, Tumca 

xdeba maTi gancxadeba, rodesac mosalodnelia ekonomikuri sargeblis miReba. 

Semosavlisa da xarjis aRiareba 

Semosavalis aRiareba xdeba maSin rodesac ekonomikuri sargeblis miRebis albaToba 

maRalia da SesaZlebelia misi sandod Sefaseba. Semdegi konkretuli kriteriumebi unda 

dakmayofildes vidre moxdebodes Semosavlis aRiareba. 


procenti da msgavsi Semosavali da xarji 

amortizebuli RirebulebiT aRricxuli yvela finansuri instrumentisaTvis da savaWrod 

gamiznuli an gasayidad arsebuli saprocento sargeblis mqone fasiani qaRaldebisaTvis, 

saprocento Semosavali da xarji aRiricxeba efeqturi saprocento ganakveTis meTodiT, 

romliTac xdeba mosalodneli samomavlo fuladi dafarvebisa/Semosavlisa finansuri 

instrumentis sasargeblo momsaxurebis xangrZlivobis Tu ufro mokle periodis 

manZilze sadac es SesaZlebelia, finansuri aqtivis Tu valdebulebis wminda sabalanso 

Rirebulebaze zusti diskontireba. gaangariSeba iTvaliswinebs finansuri instrumentis 

yvela sakontraqto pirobas (magaliTad winaswari gadaxdis SesaZleblobas) da moicavs 

28



(aTas larSi) 

nebismier sakomisio Tanxas, romelic pirdapir ganekuTvneba instruments da warmoadgens 

efeqturi saprocento ganakveTis ganuyofel nawils, garda samomavlo sakredito 

zaralisa. finansuri aqtivisa Tu finansuri valdebulebis sabalanso Rirebuleba 

koreqtirdeba Tu jgufi gadaxedavs mis mier dasafari Tu misaRebi savaraudo Tanxebis 

Sefasebas. koreqtirebuli sabalanso Rirebuleba gamoiTvleba Tavdapirvel efeqtur 

saprocento ganakveTze dayrdnobiT da sabalanso Rirebulebis cvlileba aRiricxeba 

rogorc saprocento Semosavali Tu xarji. 

rodesac finansuri aqtivis Tu msgavsi aqtivebis jgufis Rirebuleba mcirdeba 

gaufasurebis xarjis gamo, saprocento Semosavlis aRiareba grZeldeba Tavdapirveli 

efeqturi saprocento ganakveTis gamoyenebiT romelic miesadageba axal sabalanso 

Rirebulebas. 

Semosavali gasamrjelodan da sakomisiodan 

jgufi Rebulobs Semosavals gasamrjelodan da sakomisiodan momxmarebelTaTvis 

gaweuli sxvadasxva momsaxurebidan, rac SesaZloa daiyos Semdeg or kategoriad: 

Semosavali garkveuli periodis manZilze gaweuli momsaxurebidan miRebuli 

gasamrjelodan 

Semosavali garkveuli periodis manZilze gaweuli momsaxurebidan miRebuli 

gasamrjelodan daricxulia imave periodSi. aRniSnuli gasamrjelo moicavs Semosavals 

sakomisiodan, momsaxurebisa da sxva xarjebs. sasesxo valdebulebebi, romlebic 

savaraudod Camoiwereba da sxva sakredito Tanxebi gadavadebulia (yvela mzard 

xarjebTan erTad) da aRiarebulia rogorc sesxis efeqturi saprocento ganakveTis 

koreqtireba. 

Semosavali saoperacio momsaxurebidan miRebuli gasamrjelodan 

Tanxebi miRebuli mesame mxareTa operaciebTan dakavSirebuli molaparakebebidan – 

rogorebicaa aqciebis Tu sxva fasiani qaRaldebis SeZena Tu sawarmos Sesyidva an 

gayidva – aRricxulia garigebis dasrulebisas. garigebebTan dakavSirebuli gasamrjelo, 

an gasamrjelos komponentebi, aRiarebulia Sesabamisi pirobebis Sesrulebis Semdgom. 

Semosavali dividendebidan 

Semosavlis aRiareba xdeba jgufis mier Tanxis miRebis uflebis warmoSobisas. 

sadazRvevo premiis Semosavali 

dazRvevis saqmianobisTvis, sicocxlis dazRvevis garda, premiebis aRiareba xdeba 

polisis amoqmedebidan, xolo gamomuSaveba proporciulad, Sesabamisi sadazRvevo 

periodis ganmavlobaSi. sabalanso angariSgebaSi Setanili savaraudo premiebis Tanxebi, 

romelTa miRebac jer ar momxdara, Sefasebulia warsul gamocdilebaze dayrdnobiT da 

CarTulia gamomuSavebul premiebSi. 


sadazRvevo moTxovnebi 

saerTo sadazRvevo moTxovnebi moicavs wlis ganmavlobaSi warmoqmnil moTxovnebTan 

dakavSirebul yvela danakargs, iqneba is gancxadebuli Tu ara, maT Soris satransporto 

xarjs da narCeni Rirebulebis Semcirebas da sxva anazRaurebes, aseve wina wlebidan 

dasafari moTxovnebis nebismier koreqtirebas. 

29



(aTas larSi) 

saoperacioda saangariSgebo valutebi da ucxouri valutis konvertacia 

konsolidirebuli finansuri angariSgeba warmodgenilia larSi, rac jgufis 

saangariSgebo valutas warmoadgens. 2007 wlis 1 ianvridan, bankis saoperacio valutaa 

aSS. dolari. 2007 wlis 1 ianvramde, lari warmoadgenda funqcionalur valutas. jgufis 

yvela sawarmo ganazRvravs sakuTar saoperacio valutas, Sesabamisad, finansur 

angariSgebaSi warmodgenili Tanxebi izomeba aRniSnul valutaSi. ucxour valutaSi 

ganxorcielebuli operaciebi aRiricxeba saoperacio valutaSi, romlis konvertacia 

xdeba operaciis dRes arsebuli kursiT. ucxour valutaSi arsebuli fuladi aqtivebisa 

da valdebulebebis konvertacia larSi xdeba seb-is gacvliTi kursiT balansis Sedgenis 

dRes. ucxour valutaSi ganxorcielebuli operaciebis konvertaciiT gamowveuli mogebazarali 

aRiarebulia mogeba-zaralis konsolidirebul angariSgebaSi rogorc ucxouri 

valutis konvertaciiT gamowveul mogebas gamoklebuli zarali – sakurso sxvaoba. 

arafuladi saSualebebis konvertacia, romlebic izomeba ucxour valutaSi istoriuli 

Rirebulebis dadgenis mizniT, xdeba gacvliTi kursiT, romelic arsebobs Tavdapirveli 

operaciis dRes. arafuladi saSualebebi, romlebic izomeba ucxour valutaSi 

samarTliani RirebulebiT, konvertirdeba im dRis gacvliTi kursiT, roca moxda 

samarTliani Rirebulebis dadgena. 

sxvaobebi ucxour valutaSi ganxorcielebuli operaciis sakontraqto gacvliT kursaa 

da seb-is gacvliT kurss Soris operaciis dRes, CarTulia ucxour valutaSi 

ganxorcielebuli operaciebidan mogebas gamoklebuli zaralis muxlSi. 

2011, 2010 da 2009 wlebis 31 dekembris mdgomareobiT, seb-is oficialuri gacvliTi kursi 

Sesabamisad iyo 1.6703, 1.7728 da 1.6858 lari 1 aSS. dolarTan mimarTebaSi da 1, 2.1614, 2.3500, 

2.4195 lari 1 evrosTan mimarTebaSi. Sesabamisad, 2.2272, 1,2.2272 da 2.1156 lari ukrainul 

grivasTan mimarTebaSi da 2.0004, 5.9093 da 5.8882 belorusiis 10,000 rublTan mimarTebaSi. 

angariSgebis dRes, im sawarmoTa aqtivebi da valdebulebebi, romelTa funqcionaluri 

valuta gansxvavdeba jgufis saangariSgebo valutisgan, konvertirdeba qarTul larSi, 

sabalanso angariSgebis dRisaTvis arsebuli oficialuri gacvliTi kursiT da maTi 

mogeba-zaralis angariSgeba gadayvanilia wlis saSualo Sewonili kursiT. 

konvertaciidan gamomdinare sakurso sxvaobebi pirdapir asaxulia kapitalis calkeul 

komponentad. im Svilobili kompaniis Tu mokavSire sawarmos gadacemisas, romlis 

funqcionaluri valuta gansxvavdeba jgufis saangariSgebo valutisgan, kapitalSi 

aRiarebuli gadavadebuli mTliani Tanxa, am konkretul sawarmosTan miamrTebaSi 

aRiarebulia mogeba-zaralis konsolidirebul angariSgebaSi. 

ucxouri operaciis SeZenidan warmoSobili nebismieri gudvili da SeZenisas aqtivebisa 

da valdebulebebis sabalanso Rirebulebis samarTliani RirebulebiT nebismieri 

koreqtireba moiazreba ucxouri operaciebis aqtivebad da valdebulebebad da 

gadayvanilia saboloo kursiT. 


hiperinflaciis angariSi 

2011 wlis 1 ianvridan, belorusiis ekonomika bass 29-is - `finansuri angariSgeba 

hiperinflaciur qveynebSi” (`bass 29”) - kriteriumis mixedviT iTvleba hiperinflaciur 

qveynad. es standarti moiTxovs, rom hiperinflaciuri qveynis valutaSi momzadebuli 

finansuri angariSebi warmodgenili iyos angariSgebis TariRisTvis erTeuli valutis 

maCveneblis TvalsazrisiT. 

30



(aTas larSi) 

bass 29-is gamoyenebis dros, bankis Svilobili kompaniebi belorusSi ss `beloruski 

narodni bank” da Sps BNB lizingi, gamoiyenes belorusis samomxmareblo fasis 

indesqidan miRebul konversiis faqtorebs, romelic gamoaqveyna belorusis respublikis 

statistikis saxelmwifo komitetma. samomxmareblo fasis indeqsi eqvs wliani 

periodisTvis da Sesabamisi faqtorebi mas Semdeg rac belorusi aRar iTvleboda 

hiperinflaciurad 2006 wlis 1 ianvars, Semdegia: 

weli indeqsi, konvertaciis 

% 

faqtori 

2006 106.6 320.8 

2007 112.1 286.2 

2008 113.3 252.6 

2009 110.1 229.4 

2010 109.9 208.7 

2011 208.7 100.0 

yvela Semosavali da danaxarji, mogeba-zarali gadaiangariSda Sesabamisi koreqtirebis 

faqtorebis gamoyenebiT. monetaruli aqtivebi da valdebulebebi ar gadaangariSda 

radgan isini ukve aris gamoxatuli monetarul erTeul valutaSi angariSgebis 

TariRisTvis. aramonetaruli aqtivebi da valdebulebebi (puntebi, romlevbica ra rais 

ukve gamoxatuli monetaruli erTeuli valutisT angariSgebis TariRistvis) 

gadaangariSda Sesabamisi indeqsis gamoyenebiT. bankis wminda aramonetarul poziciaze 

inflaciis gavlena Setanilia mogeba zaralis angariSSi rogorc hiperinflaciidan 

mogeba. 

standartebi da interpretaciebi, romlebic gamoSvebulia, magram jer ZalaSi ar Sesula 

konsolidirebuli finansuri angariSebis damtkicebis TariRamde, gamoqveynda garkveuli 

axali standartebi, interpretaciebi da cvlilebebi arsebul standartebSi, romlebic 

jer ZalaSi ar Sesula mimdinare angariSgebis periodSi da jgufs adre ar miuRia: 

fass 9 `finansuri instrumentebi” 

2009 wlis noemberSi ssass-m gamosca fass 9 finansuri instrumentebi. es standarti 

faqtobrivad Caanacvlebs bass 39 finansur instrumentebs: aRiareba da Sefaseba. fass 9 

ZalaSi Seva 2015 wlis 1 ianvars an Semdeg dawyebuli finansuri wlebisTvis. 

organizaciebs SeuZliaT aRiaron misi pirveli etapi 2009 wlis 31 dekembers an Semdeg 

dasrulebuli saangariSo periodisTvis. fass 9-is pirveli etapi warmogvidgens axal 

moTxovnebs finansuri aqtivebis klasifikaciasa da SefasebasTan dakavSirebiT. kerZod, 

Semdgomi SefasebisTvis yvela finansuri aqtivi klasificirdeba amortizaciis 

RirebulebiT an samarTliani Rirebulebis mogebis an zaralis saSualebiT im savaWrod 

arsebuli saaqcionero instrumentebis upirobo ofcioniT, romelic unda Sefasdes 

samarTliani RirebulebiT sxva sruli Semosavlebis angariSgebis saSualebiT. jgufi 

amJamad afasebs axali standartis miRebis gavlenas da ganixilavs pirveli gamoyenebis 

TariRs. 


fass 10 `konsolidirebuli finansuri angariSebi” 

fass 10 konsolidirebuli finansuri angariSebi warmogvidgens erTian konsolidirebul 

models, romelic ganmartavs kontrols rogorc yvela tipis sawarmosTvis 

konsolidaciis safuZvels. am standartSi miTiTebulia im situaciebTan dakavSirebuli 

moTxovnebi, roca kontrolis Sefaseba rTulia, maT Soris SemTxvevebi, romelic moicavs 

potenciur xmis micemis uflebebs, sagento urTierTobebs, konkretuli aqtivebis 

kontrols da garemobebs, romelSic xmis micemis ufleba ar aris dominanturi faqtori 

31



(aTas larSi) 

kontrolis gansazRvris dros. garda amisa fass 10 warmogvidgens konkretul gamoyenebis 

saxelmZRvanelos sawarmoTa Soris urTierTobisTvis. es standarti aseve moicavs 

sabuRaltro aRricxvis moTxovnebs da konsolidaciis procedurebs, romlebic 

ucvlelad aris gadatanili bass 27-dan. fass 10 enacvleba SIC 12-Si –konsolidaciaspecialuri 

daniSnulebis organizaciebi _ da bass 27 - konsolidirebuli da calke 

finansuri angariSebSi warmodgenil moTxovnebs da ZalaSi Sedis 2013 wlis 1 ianvars an 

Semdeg dawyebuli wlisTvis. nebarTulia ufro adre gamoyenebac. amJamad jgufi afasebs 

fass 10-s miRebis zegavlenas mis finansur mdgomareobasa da valdebulebebis 

Sesrulebaze. 

fass 11 èrToblivi RonisZiebebi” 

fass 11 erToblivi RonisZiebebi aumjobesebs aRricxvas erToblivi RonisZiebebTan 

dakavSirebiT pirincipze dafuZnebuli midgomis SemoRebiT, romelic moiTxovs nebismieri 

erToblivi RonisZiebis mxarisgan aRiaros am RonisZiebis Sedegad warmoqmnili misi 

uflebebi da valdebulebebi. erToblivi RonisZiebis klasifikacia gansazRvrulia am 

RonisZiebidan warmoqmnili mxareebis uflebebisa da valdebulebebis SefasebiT. 

standartSi warmodgenilia mxolod ori tipis RonisZieba – erToblivi muSaoba da 

erToblivi sawarmo. fass 11 aseve gansazRvravs proporciul konsolidacias rogorc 

erToblivi RonisZiebebis aRricxvis meTods. fass 11 aCerebs bass 31 -s èrTobliv 

sawarmoebSi wili”- da SIC 13-s èrToblivad kontrolirebadi sawarmoebi_ mewarmeebis 

mier aramonetaruli Senatanebi” da ZalaSi Sedis 2013 wlis 1 ianvars an Semdeg 

dawyebuli wlisTvis. nebarTulia ufro adre gamoyenebac. amJamad jgufi afasebs fass 11s 

miRebis zegavlenas mis finansur mdgomareobasa da valdebulebebis Sesrulebaze. 

fass 12 `sxva sawarmoebSi wilis asaxva” 

fass 12 sxva sawarmoebSi wilis asaxva, romelic gamoica 2011 wlis maisSi aris axali 

da yovlismomcveli standarti, romelic asaxavs sxva sawarmoebSi, maT Soris Svilobil 

kompaniebSi, erTobliv sawarmoebSi, dakavSirebul organizaciebSi da 

arakonsolidirebul struqturul sawarmoebSi wilis yvela formasTan dakavSirebul 

moTxovnebs. fass 12 ZalaSi Sedis 2013 wlis 1 ianvars an Semdeg dawyebuli wlisTvis. 

nebarTulia ufro adre gamoyenebac. am standartis miReba saWiroebs jgufis finansur 

angariSebSi axali monacmebis Setanas, magram zegavlenas ar moaxdens mis finansur 

mdgomareobasa da valdebulebebis Sesrulebaze. 

fass 13 `samarTliani Rirebulebis gazomva” 

fass 13 samarTliani Rirebulebis Sefaseba gansazRvravs samarTliani Rirebulebis 

Sefasebis erTiani fass-is struqturaSi miTiTebul samarTlian Rirebulebas. es 

standarti gamoiyeneba, roca sxva fass-ebi moiTxovs an uSvebs samarTliani Rirebulebis 

Sefasebebs. is ar iTvaliswinebs raime axali moTxovnebis SemoRebas samarTliani 

RirebulebisT aqtivis an valdbeulebis gasazomad, cvlis rac Sefasbeulia samarTlini 

RirbulebiT fass-ebSi an gansazRvravs Tu rogorc unda moxdes cvlilebebi samarTlian 

RirebulebaSi, fass 13 ZalaSi Sedis 2013 wlis 1 ianvars an Semdeg dawyebuli wlisTvis. 

nebarTulia ufro adre gamoyenebac. am standartis miReba saWiroebs jgufis finansur 

angariSebSi axali monacmebis Setanas, magram zegavlenas ar moaxdens mis finansur 

mdgomareobasa da valdebulebebis Sesrulebaze. 


bass 19-is `TanamSromlisTvis anazRaurebis sistema” cvlilebebi 

faisk-ma gamoaqveyna bass 19-is `TanamSromlisTvis anazRaurebis sistema”- 

cvlilebebi, romelic ZalaSi Sedis 2013 wlis 1 ianvars an Semdeg 

dawyebuli wlisTvis, da romlis mizania mniSvnelovani cvlilebebi 

Seitanos TanamSromlisTvis anazRaurebis sistemis aRricxvaSi, maT Soris 

32



(aTas larSi) 

sapensio gegmis aqtivebsa da valdebulebebSi cvlilebebis gadavadebuli 

aRiarebisTvis ofcionis amoReba (cnobili rogorc `koridoruli 

midgoma”). garda amisa, es cvlilebebi SezRudavs mogeba-zaralSi 

aRiarebul wminda sapensio aqtivis (valdebulebis) cvlilebebs 

saprocento Semosavlamde (danaxarjamde) da momsaxurebebis xarjebamde. 

jgufi varaudobs, rom es cvlilebebi zegavlenas ar moaxdens mis 

finansur mdgomareobaze. 

fass-ebis gaumjobeseba 

cvlilebebis es kompleqti moicavs eqvsi standartis da erTi faisk-is cvlilebas. is 

efuZneba 2009 welis agvistoSi, fass 1-iTvis `fass-is pirvel-jerze miReba” damatebiTi 

cvlilebebs, rac warmodgenili iqna rogorc 2009 wlis ivlisSi gamoSvebuli `ganakveTregulirebadi 

saqmianobebis” nawili. amJamad jgufi ganixalavs am cvlilebebis 

kompleqtis zemoqmedebas. 

fass 1-is `pirvel-jerze miReba” cvlilebebi fiqsirebul dReebSi da hiperinflacia 

es cvlilebebi moicavs fass 1 `fass-is pirvel-jerze miReba”-is or cvlilebas. pirveli 

cvlis miTiTebas 2004 wlis 1 ianvris fiqsirebul TariRi `fass-ebis cvlilebis 

TariRiT”, ris gamoc ar aris aucilebeli sawarmoebma miiRon fass pirvel jerze, raTa 

xelaxla moxdes im tranzaqciebis aRiareba, romlebic ganxorcielda fass-ze gadasvlis 

TariRamde. meore cvlileba warmogvidgens saxelmZRvanelos rogor unda ganaaxlos 

sawarmom finansuri angariSebis warmodgena fass-is Sesabamisad im periodis Semdeg, roca 

sawarmo veRar uzrunvelyofda fass-ebTan Sesabamisobas, imis gamo rom misi moqmedi 

valuta daeqvemdebare hiperinflacias. 

fass 7-is `finansuri instrumentebi: aRiarebebi”, aRirebis gauqmebis cvlilebebi 

es cvlilebebi warmoiqmna balansgareSe saqmianobebis basss-is Semowmebis Sedegad. es 

cvlilebebi gaaumjobesebs gadaricxvis tranzaqciebis gamWvirvalobas da gaaumjobesebs 

momxmareblis mier finansuri aqtivebis gadacemebTan dakavSirebul riskisa da sawarmos 

finansur mdgomareobaze am riskebis gavlenis gacnobierebas, kerZod im riskebisa, 

romelic moicavs finansuri aqtivebis sekuritizacias. maTi ufro adre gamoyeneba 

evrokavSiris nebarTviT SesaZlebelia. 

bass 12 `saSemosavlo gadasaxadebi”, mogebaze gadavadebuli Semosavali 

bass 12, `saSemosavlo gadasaxadebi”, amJamad moiTxovs rom sawarmom Seafasos aqtivTan 

dakavSirebuli gadavadebuli gadasaxadi, iqidan gamomdinare apirebs Tu ara sawarmo 

dafaros aqtivis sabalanso Rirebuleba gamoyenebis an gayidvis gziT. rTuli iqneba da 

daeqvemdebareba Sefasebas dafarvl moxdeba gamoyenebis Tu gayidvis gziT, roca aqtivi 

fasdeba bass 40 `sainvesticio qoneba”-Si miTiTebuli samarTliani Rorebulebis modelis 

gamoyenebiT. aqedan gamomdinare cvlileba gvTavazobs im gadavadebuli sagadasaxado 

aqtivebis da valdebulebebis gansazRvris arsebuli principis gamonakliss, romelic 

warmoiqmneba samarTlini RirebulebiT Sefasebul sainvesticio qonebaze. cvlilebis 

Sedegad, SIC 21 `saSemosvalo gadasaxdebi – gadafasebuli araamortizirebuli aqtivebis 

aRdgena” aRar gamoiyeneba samarTliani RirebulebiT warmodgili sainvesticio qonebis 

mimarT. es cvlilebebi aseve gulisxmobs bass 12-Si adre SIC 21-Si arsebuli darCenili 

saxelmZRvanelos Setanas, romelic gauqmda. 


bass 1, `finansuri angariSis prezentacia”, sxva srul SemosavalTan dakavSirebuli 

cvlilebebi 

33



(aTas larSi) 

am cvlilebebis Sedegad warmoqmnili mTavari cvlileba gulisxmobs sawarmoebisTvis 

gansazRvrul moTxovnas sxva srul SemosvalSi warmodgenili punqtebi daajgufdes imis 

mixedviT xdeba Tu ara potenciuri mogeba an zaralis xelaxali gamoyeneba 

(reklasifikaciis regulireba). es cvlilebebi ar exeba sxva srul SemosvalSi 

warmodgenil punqtebs. 

bass 27 (Sesworebuli 2011w) `calke finansuri angariSebi” 

es standarti moicavs calke finansuri angariSebis debulebebs, romelic darCa mas 

Semdeg, rac bass 27 –is debulebebi Setanili iqna axal fass 10-Si. 

bass 28 (2011 w. Sesworebuli) `dakavSirebuli da erToblivi sawarmoebi” 

es standarti moicavs erToblivi sawarmoebis, iseve rogorc dakavSirebuli sawarmoebis 

mimarT moTxovnebs, romelic gulisxmobs fass 11-is warmodgenis Semdeg awarmoon 

aRricxva monawileobrivi wilis mixedviT. 

34



(aTas larSi) 

4. mniSvnelovani saaRricxvo Sefasebebi da daSvebebi 

jgufis saaRricxvo politikis gamoyenebis procesSi, xelmZRvaneloba iyenebs Tavis 

Sefasebebs da gansazRvravs konsolidirebul finansur angariSebSi aRiarebul Tanxebs. 

Sefasebebisa da daSvebebis yvelaze mniSvnelovani gamoyeneba xdeba Semdegnairad. 

segmenturi angariSgeba 

2011 wels jgufis xelmZRvanelobam Secvala Tavisi biznes segmenti segmentaciis 

xelmZRvanelebis Secvlis gareSe – Seicvala mxolod warmodgenis formati – raTa 

sgementuri informacia ufro yovlismomcveli da jgufis biznes marTvis praqtikis 

Sesabamisi yofiliyo. jgufis segmenturi angariSgeba efuZneba Semdeg saoperacio 

segmentebs: sacalo sabanko saqme (`biji bankisa” da `bienbi sacalo sabanko saqmianobis” 

gamoklebiT), korporatiuli sabanko saqmianoba (`biji bankisa” da `bienbi sacalo sabanko 

saqmianobis” gamoklebiT), qonebis marTva, korporatiuli centri, dazRveva da jandacva 

(adre ewodeboda dazRveva dazRvevaSi Setanili mcire moculobis jandacvis gamo), 

xelmisawvdomi sacxovrebeli warmodgenili iuridiuli piris ss ès bi real isTeiTis” 

mier (adre Sedioda aqtivis marTvis segmentSi), biji kapitali (adre ewodeboda 

sabrokero), BNB &BGB (cnobili aseve rogorc `ss beloruski narodni banki” da ss 

biji banki, TviToeuli maTgani adre ganawilebuli iyo sacalo sabanko saqmianobasa da 

korporatiul sabanko saqmianobas Soris, maTi Sesabamisi sacalo sabanko saqmianobisa da 

korporatiuli sabanko saqmianobis faqtobrivi moculobis Sesabamisad), liberTi 

qonsiumar (adre ewodeboda aqtivis marTva) da sxva (moicavs ss `galt end TagarTs 

holding jorjias”, adre Sedioda korporatiul centrSi). es moqmedi segmentebi 

SemdgomSi 2011 wlis 1 ianvridan klasificirebuli iqna strategiuli, sinergistikul da 

ara ZiriTad segmentebad. 

Senobebis normaluri eqspluataciis periodi 

2011 wlis ianvarSi bankma daasrula Tavisi Senobebis teqnikuri Sefaseba. eqspertis 

angariSis safuZvelze yvela Senobas ganesazRvra eqspluataciis ekonomikurad 

xelsayreli periodi (maqsimaluri 100 weli) 2011 wlis I ianvridan moyolebuli, marTvis 

saukeTeso maCveneblebis safuZvelze. Sesabamisad 2011 wlis I ianvridan daregulirda 

SenobebTan dakavSirebuli Tanabari amortizaciis normebi. yvela sxva faqtori 

SenarCunda Tanabrad, am eqspluataciis ekonomikurad xelsayreli periodis gadafasebis 

Sedegad miviReT wliuri amortizaciis xarjis 1,365 lariT kleba. 

finansuri instrumentebis samarTliani Rirebuleba 

Tu finansuri mdgomareobis angariSegebaSi miTiTebuli finansuri aqtivebisa da 

finansuri valdebulebebis samarTliani Rirebuleba ver iqneba warmoebuli aqtiuri 

bazrebidan, isini ganisazRvreba Sefasebis sxvadasxva meTodis gamoyenebiT, romelic 

moicavs maTematikuri modelebis gamoyenebas. am modelisTvis informaciis aReba xdeba 

sxvadasxva dakvirvebis qveS arsebuli bazrebidan, Tu SesaZlebelia, magram roca es 

SeuZlebelia samarTliani Rirebulebis dasadgenad saWiroa garkveuli gadawyvetileba. 

sesxis uzrunvelyofis Rirebulebis gansazRvra 

xelmZRvaneloba amowmebs uzrunvelyofis sabazro Rirebulebas regularulad. 

xelmZRvaneloba iyenebs Tavis gamocdilebas an damoukidebeli eqspertis daskvnas 

samarTliani Rirebulebis regulirebisTvis, raTa masSi asaxuli iyos arsebuli 

garemoebebi. uzrunvelyofis moculoba da tipi damokidebulia partnioris sakredito 

riskis Sefasebaze. 

35



(aTas larSi) 

4. mniSvnelovani saaRricxvo Sefasebebi da daSvebebi (gagrZeleba) 

sainvesticio qonebisa da ZiriTadi saSualebebis samarTliani Rirebulebis gansazRvra 

sainvesticio qonebis da ZiriTadi saSualebebis samarTliani Rirebuleba ganisazRvreba 

damoukidebeli kvalificiuri Semfaseblebis mier, samarTliani Rirebuleba 

ganisazRvreba Sida kapitalizaciis meTodis (aseve cnobilia rogorc diskontrirebuli 

momavali fuladi saxsrebis moZraobis meTodi) da gayidvebis Sedarebis meTodis 

gamoyenebiT. 

zemoT aRwerili Sefasebebi SeiZleba Seicvalos Tu xelmisawvdomi gaxdeba axali 

transaqciis TariRi da sabazro mtkicebuleba. 

sesxebis, moTxovnebis, da finansuri ijaridan moTxovnebis gaufasurebis rezervi 

jgufis mier regularulad xdeba sesxebisa da moTxovnebis, aseve finansuri ijaridan 

moTxovnebis gadaxedva gaufasurebasTan mimarTebaSi. jgufi iyenebs sakuTar 

gamocdilebaze dafuZnebul Sefasebebs nebismieri gaufasurebis xarjis gansazRvris 

mizniT im SemTxvevebSi, rodesac msesxebels gaaCnia finansuri sirTuleebi da moipoveba 

istoriuli monacemebi analogiur msesxeblebTan mimarTebaSi. Sesabamisad, jgufi elis 

samomavlo fuladi nakadebis cvlilebas, radgan arsebobs monacemebi, romelTa 

mixedviTac SesaZloa adgilobrivi ekonomikuri mdgomareobisa da dafarvebis statusis 

gauareseba. xelmZRvaneloba iyenebs Sefasebebs istoriuli zaralis gamocdilebaze da 

sakredito riskis maxasiaTeblebze dayrdnobiT da obieqtur safuZvels analogiuri 

sesxebisa da moTxovnebis an maTi jgufis gaufasurebasTan mimarTebaSi. jgufi eyrdnoba 

sakuTar Sefasebebs sesxebisa Tu moTxovnebis, aseve finansuri ijaridan moTxovnebis 

saTanado monacemebis koreqtirebisaTvis mimdinare movlenebis aRricxvis mizniT. 

pirobiTi valdebulebebi 

Cveulebrivi saqmianobisas, jgufs warmoeSoba SesaZlo pirobiTi valdebulebebis zarali. 

jgufi iTvaliswinebs zaralis an valdebulebis warmoSobis SesaZleblobas, iseve 

rogorc mis SesaZleblobas, gonivrulad gansazRvros zaralis Tanxa pirobiTi 

valdebulebebis zaralis gansazRvrisas. savaraudo pirobiTi valdebulebebis zarali 

warmoiSoba, rodesac cnobilia valdebulebis warmoSobis Taobaze da SesaZlebelia 

zaralis Tanxis sarwmunod gansazRvra. jgufi regularulad afasebs misTvis 

xelmisawvdom mimdinare informacias, aRniSnuli daricxvis saWiroebis gansazRvris 

mizniT. 2010 wlis 31 dekembris mdgomareobiT, jgufis mier ar momxdara pirobiTi 

valdebulebebi aRricxva. 

gudvilis gaufasureba 

jgufi axdens gudvilis gaufasurebis Sefasebas sul mcire yovelwliurad. aRniSnuli 

moiTxovs im fuladi nakadebis momtani biznes erTeulis gamoyenebiTi Rirebulebis 

gansazRvras, romelsac ganekuTvneba gudvili. gamoyenebiTi Rirebulebis gansazRvra 

jgufisgan moiTxovs fuladi nakadebis momtani biznes erTeulidan samomavlo 

mosalodneli fuladi nakadebis Sefasebas da agreTve saTanado fasdaklebis ganakveTis 

dadgenas aRniSnuli fuladi nakadebis mimdinare Rirebulebis gansazRvris mizniT. 

grZelvadiani aqtivebis gaufasureba 

grZelvadiani aqtivebi ZiriTadad Sedgeba uZravi qonebis investirebisgan, 

investiciebisgan mokavSire sawarmoebSi, gudvilisa da aramaterialuri aqtivebisgan. 

grZelvadiani aqtivebis gaufasurebas jgufi afasebs yovelwliurad, an maSin, rodesac 

xelmZRvanelobis azriT, movlenebi da garemoebaTa cvlilebebi miuTiTebs, rom SesaZloa 

sabalanso Rirebulebis aRdgena veRar moxerxdes. 

36



(aTas larSi) 

investiciebis gaufasureba 

jgufi flobs investiciebs ramdenime kompaniaSi, maTi CaTvliT, romelTa kotirebac ar 

xdeba aqtiur bazarze. sabazro pirobebis samomavlo uaryofiTma cvlilebebma, an 

saqmianobis uaryofiTma Sedegebma SesaZloa gamoiwvios zarali, romelic SesaZlebelia 

ar iqnas asaxuli investiciis mimdinare sabalanso RirebulebaSi, Sesabamisad, momavalSi 

saWiro gaxdes gaufasurebis daricxva. jgufi regularulad axdens investiciebis 

gadaxedvas gaufasurebis indikaciis gamovlenis mizniT. aRniSnuli mimoxilva moiTxovs 

samomavlo movlenebis Sedegebis gansazRvras da im faqtorebis gamovlenas, romlebic 

miuTiTebs gaufasurebaze. 

37



(aTas larSi) 

5. biznes gaerTianebebi 

SeZenebi 2011 wels 

Sps partniori sadazRvevo kompania 

2011 wlis 1 dekember ss sadazRvevo kompania aldagi bisiai-m SeiZina Sps partniori 

sadazRvevo kompania, saqarTveloSi moqmedi sadazRvevo kompania. Sesyiduli 

identicirebadi aqtivebis, valdebulebebis da pirobiTi valdebulebebis samarTliaani 

Rirebuleba da Sps partniori sadazRvevo kompaniisgan warmoqmnili gudvili SeZenis 

TariRisTvis iyo: 

SeZenisas 

aRiarebuli 

samarTliani 

Rirebuleba 

misaRebi sadazRvevo Senatani 2,981 

gadasazRvevi aqtivebi 1,646 

ZiriTadi saSualebebi 507 

sxva aqtivebi 187 

5,321 

sadazRvevo kontraqtebiT gaTvaliswinebuli valdebulebebi 3,304 

sxva sadazRvevo valdebulebebi 2,118 

sxva valdebulebebi 276 

5,698 

sul identificirebadi SeZenili wminda aqtivebi (100%) 

(377) 

SeZenil wminda aqtivebis samrTlian RirebulebaSi wili 

(100%) (377) 

SeZenisas warmoqmnili gudvili 377 

gacemuli kompensacia 

– 

Tu es gaerTianeba moxdeboda wlis dasawyisSi, maSin ar iqneboda didi arsebiTi sxvaoba 

jgufis wminda Semosavalsa da mogebas Soris. 

SeZenis TariRidan, jgufma Sesabamisad daafiqsira 295 da 165 lari Semosavali da mogeba. 

gaerTianeba rom momxdariyo wlis dasawyisSi, maSin ar iqneboda didi arsebiTi sxvaoba 

jgufis wminda Semosavalsa da mogebas Soris. 

mTavari faqtori, ramac Tavisi wvlili Seitana bizne gaerTianebis RirebulebaSi, da ramac 

gamoiwvia gudvilis aRiareba, iyo jgufis saqmianobaSi pozitiuri CarTva. 

gudvilis mTliani moculoba savarudod daiqviTeba gadasaxadis gamo Svilobli kompaniis 

gasxvisebis Semdeg. 

imis gamo, rom Sps partniori dasazRvevo kompania SeZenili iqna wlis bolos, jgufs 

Zalian cota dro hqonda gaeanalizebina da Seefasebina wminda aqtivebi iseve rogorc 

gudvilis moculoba. amitom wminda aqtivebi, iseve rogorc warmodgenili gudvili 

Sefasda pirobiTad angariSgebis TariRisTvis. jgufi agrZelebs wminda aqtivebis srul 

Semowmebas da Tu saWiro gaxdeba SeZenis TariRidan Tormeti Tvis ganmavlobaSi 

ganxorcieldeba wminda aqtivebis da gudvilis moculobis saTanado koreqtireba, `bizne 

gaerTianebis” Sesabamisad (fass 3). Tumca, xelmZRvaneloba darwmunebulia, rom 

angariSgebis TariRisTvis biznes gaerTianebis yvela faqtori gaTvaliswinebulia da 

Sefasebebi arsebiTad sworia. 

38



(aTas larSi) 

5. biznes gaerTianebebi (gagrZeleba) 

SeZenebi 2011 wels (gagrZeleba) 

kompaniaTa jgufi blok jorjia 

2011 wlis 30 noembers ss `Cemi ojaxis klinikam” SeiZina saqarTveloSi mqomedi jandacvis 

momsaxurebis jgufis `kompaniaTa jgufis blok jorjias” 100%. Sesyiduli identicirebadi 

aqtivebis, valdebulebebis da pirobiTi valdebulebebis samarTliaani Rirebuleba da 

Sps partniori sadazRvevo kompaniisgan warmoqmnili gudvili SeZenis TariRisTvis iyo: 

SeZenisas 

aRiarebuli 

samarTliani 

Rirebuleba 

fuli da fulis ekvivalentebi 408 

debitoruli davalianebebi 1 3,186 

ZiriTadi saSualebebi 37,873 

winaswar gadaxdili Tanxebi 15 

sxva aqtivebi 1,443 

42,925 

kreditoruli davalianebebi 13,464 

mimdinare saSemosavlo gadasaxadis valdebulebebi 243 

momavali periodebis Semosavalze sagadasaxado 

valdebulebebi 1,167 

sxva valdebulebebi 8,151 

23,025 

sul identificirebadi SeZenili wminda aqtivebi 

19,900 

SeZenil wminda aqtivebis samrTlian RirebulebaSi 

wili 14,396 

SeZenisas warmoqmnili uaryofiTi gudvili 2 (955) 

gacemuli kompensacia 3 13,441 

1 debitoruli davalianebis samarTliani Rirebuleba Seadgens 3,186 lars. mTliani 

daebitoruli Tanxa Seadgens 3,191 lars. arcerTi debitoruli davalianeba ar 

gaufasurebula da navaraudevia sruli sakontraqto Tanxis amoReba. 

2 SeZenamde kompaniaTa jgufi blok jorjia garkveul finansur sirTuleebs ganicdida 

saavadmyofoebis mSeneblobis dafinansebasTan dakavSirebiT. amis gamo SesaZeni fasi 

dabali iyo, ramac SeZenisas gamoiwvia uaryofiTi gudvili –aRiarebuli arasaoperacio 

SemosavalSi (SeniSvna 28). 

3 kompensacia moicavda gadavadebul fulad gadaxdebs 5,857 laris odenobiT. ss `Cemi 

ojaxis klinikam” gamouSva 2,713,000 Cveulebrivi aqciebi, rogorc gacemuli kompensaciis 

nawili. amis Sedegad ss sadazRvevo kompania aldagi bisiai-s wili ss `Cemi ojaxis 

klinikaSi 51%-mde Semcirda. 

sufTa fuladi Semodineba SeZenis dros iyo: 


gadaxdili Tanxa – 

Svilobili kompaniis SeZenis Tanxa 

408 

sufTa Semosuli Tanxa 

408 

jgufma gadawyvita gazardos wili da investicia jandacvis seqtorSi, SeZenili 

saavadmyofoebi arsebul saavadmyofobTan erTad moicavs saqarTvelos or did regions – 

39



(aTas larSi) 


SeZenebi 2011 wels (gagrZeleba) 

imereTsa da samegrelos. xelmZRvaneloba Tvlis, rom es garigeba dadebiT gavlenas 

moaxdens jgufze. 

SeZenis TariRidan jgufma Sesabamisad daafiqsira 2,588 da 354 lari Semosavali da mogeba. 

gaerTianeba rom momxdariyo wlis dasawyisSi, maSin jgufi daafiqsirebda Sesabamisad 31,395 

lars da 1,892 lars Semosavalsa da mogebas. 

mTliani uaryofiTi gudvili savarudod daiqviTeba gadasaxadis gamo Svilobli kompaniis 

gasxvisebis Semdeg. 

imis gamo, rom kompaniaTa jgufi blok jorjia SeZenili iqna wlis bolos, jgufs Zalian 

cota dro hqonda gaeanalizebina da Seefasebina wminda aqtivebi iseve rogorc gudvilis 

moculoba. amitom wminda aqtivebi, iseve rogorc warmodgenili gudvili Sefasda 

pirobiTad angariSgebis TariRisTvis. jgufi agrZelebs wminda aqtivebis srul Semowmebas 

da Tu saWiro gaxdeba SeZenis TariRidan Tormeti Tvis ganmavlobaSi ganxorcieldeba 

wminda aqtivebis da gudvilis moculobis saTanado koreqtireba, `bizne gaerTianebis” 

Sesabamisad (fass 3). Tumca, xelmZRvaneloba darwmunebulia, rom angariSgebis 

TariRisTvis biznes gaerTianebis yvela faqtori gaTvaliswinebulia da Sefasebebi 

arsebiTad sworia. 

SeZenebi 2010 wels 

ss `Teliani veli” 

2010 wlis 28 Tebervals ss `liberTi konsiumerma” Seisyida ss `Teliani velis”, 

saqarTvelosa da ukarinaSi moqmedi Rvinis qarxnis 52.33%. SeZenili aqtivebis, 

valdebulebebis da pirobiTi valdebulebebis samarTliani Rirebulebebi, da ss `Teliani 

velisgan” warmoqmnili gudvili SeZenis TariRisTvis iyo: 

SeZenisas 

aRiarebuli 

samarTliani 

Rirebuleba 

fuli da fulis eqvivalentebi 296 

savaWro fasiani qaRaldebi 954 

debitoruli davalianebebi 3,596 

ZiriTadi saSualebebi 8,038 

gudvili da sxva aramaterialuri aqtivebi 151 

gadavadebuli mogebis gadasaxadebi aqtivebze 78 

sxva aqtivebi 6,751 

19,864 

sakredito institutebis mimarT gadasaxdeli Tanxebi 8,622 

kreditoruli davalianeba 916 

gadavadebuli mogebis gadasaxadebi valdebulebebze 395 

sxva valdebulebebi 1,698 

11,631 

sul wminda aqtivebi 

8,233 

wili SeZenil wminda aqtivebis samarTlian 

RirebulebaSi (52.33%) 4,308 

40



(aTas larSi) 

biz5. biznes gaerTianebebi (gagrZeleba) 

SeZenebi 2010 wels (gagrZeleba) 

wili SeZenili sufTa aqtivebis samarTlian 

RirebulebaSi (27.19%) (3,451) 

SeZenis dros warmoqmnili gudvili 3,292 

gadaxdili safasuri 1 4,149 

wminda fuladi saxsrebis gadineba SeZenisas: 

2010 

gadaxdili fuladi saxsrebi – 

Svilobil kompaniasTan erTad SeZenili fuladi 

saxsrebi 296 

wminda fuladi saxsrebis gadineba 

296 

1 gadaxdili Tanxa moicavs jgufis investicias gasayidad arsebul sainvesticio fasian 

qaRaldebSi ss `nikoras” Cveulebrivi aqciebis formiT. 

SeZenis dRes, arasakontrolo wili moicavda 3,925 lars da Sefasda SeZenili sawarmos 

wminda aqtivebis arasakontrolo procentebis proporciuli wiliT. 

SeZenis TariRidan, jgufma daafiqsira 8,293 lari, 355 lari da 115 lari Semosavali, mogeba 

da sxva mTliani Semosavali. Tu gaerTianeba moxda wlis dasawyisSi, maSin ar iqneba 

mniSvnelovani, materialuri sxvaoba jgufis wminda Semosavalsa da mogebaSi. 

gudvilis mTliani moculoba unda daqiviTos gadasaxadis mizniT Svilobili kompaniis 

gankargvis Semdeg. 

Sps quTaisis regionuli klinikuri saavadmyofo 

2010 wlis 1 oqtombers, ss Cemi ojaxis klinikam” SeiZina Sps quTaisis regionuli klinikuri 

saavadmyofos 100%, es aris saqarTveloSi mqomedi samedicino momsaxurebebis provaideri 

kompanias. SeZenili aqtivebis, valdebulebebis da pirobiTi valdebulebebis samarTliani 

Rirebulebebi, da Sps `quTaisis regionuli klinikuri saavadmyofosgan” warmoqmnili 

gudvili SeZenis TariRisTvis iyo: 

SeZenisas 

aRiarebuli 

samarTliani 

Rirebuleba 

sabalanso 

Rirebuleba 

ZiriTadi saSualebebi 658 481 

658 481 

kreditoruli davalianeba 17 17 

gadavadebuli mogebis gadasaxadebi valdebulebebze 27 27 

44 44 

sufTa aqtivebis samarTliani Rirebuleba 614 437 


RirebulebaSi (100%) 614 

SeZenis dros warmoqmnili negatiuri gudvili (179) 

gadaxdili safasuri 435 


2010 

gadaxdili fuladi saxsrebi (435) 


saxsrebi 

– 


(435) 

41



(aTas larSi) 



im SemTxvevaSi, rom gaerTianeba ganxorcielebuliyo wlis dasawyisSi, amas ar eqneboda 

mniSvnelovani gavlena jgufis sufTa Semosavalsa da wminda mogebaze. 

SeZenis TariRidan, jgufma daafiqsira 629 lari da 98 lari Semosavali, mogeba da sxva 

mTliani Semosavali. Tu gaerTianeba moxda wlis dasawyisSi, maSin ar iqneba mniSvnelovani, 

materialuri sxvaoba jgufis wminda Semosavalsa da mogebaSi. 



SeZenebi 2009 wels 

Sps `planeta forte” 

2009 wlis 1 ianvars ss `liberTi konsumerma” SeiZina `Sps planeta fortes” 51%, 

saqarTveloSi gazeTebis vaWrobiT dakavebuli kompania. Sps `planeta fortes” 

gansazRvradi aqtivebis, valdebulebebisa da pirobiTi valdebulebebis samarTliani 

Rirebulebebi SeZenis TariRisaTvis Sefasda Semdegi saxiT: 

SeZenisas 

aRiarebuli 

samarTliani 

Rirebuleba 

sabalanso 

Rirebuleba 

fuli da fulis eqvivalentebi 4 4 

ZiriTadi saSualebebi 55 55 

sxva aqtivebi 460 460 

519 519 

sxva valdebulebebi 486 486 

486 486 

sufTa aqtivebis samarTliani Rirebuleba 33 33 


RirebulebaSi (51%) 17 

SeZenis dros warmoqmnili gudvili 364 

gadaxdili safasuri 381 


2009 



saxsrebi 

4 


(377) 



SeZenis TariRisTvis arakontrolirebadi wili Seicavda 16 lars da izomeboda 

arasakontrolo wilis Sesasyidi wmida aqtivebis proporciuli wiliT. 

42



(aTas larSi) 





ss `sb iberia” 

2009 wlis 19 agvistos ss `sb imobiliarem”, bankis srul mflobelobaSi arsebulma 

Svilobilma kompaniam SeiZina ss `sb iberias” 100%, saqarTveloSi moqmedi uZravi qonebis 

developeri kompania. ss `sb iberias” gansazRvradi aqtivebis, valdebulebebisa da pirobiTi 

valdebulebebis samarTliani Rirebulebebi SeZenis TariRisaTvis Sefasda Semdegi saxiT: 

SeZenisas 

aRiarebuli 

samarTliani 

Rirebuleba 

sabalanso 

Rirebuleba 


sainvesticio qoneba 4,547 4,547 

gadavadebuli mogebis gadasaxadis aqtivi 826 826 

winaswar gadaxdili Tanxebi 102 102 


5,493 5,493 

sakredito institutebis mimarT gadasaxdeli Tanxebi 6,900 6,900 

kreditoruli davalianeba (vaWroba da momsaxureba) 2,156 2,156 

gadavadebuli mogebis gadasaxadis valdebuleba 12 12 

9,068 9,068 

sufTa aqtivebis samarTliani Rirebuleba (3,575) (3,575) 

gadaxdili fuladi saxsrebi (3,575) 


saxsrebi 3,907 

wminda fuladi saxsrebis gadineba 332 


2009 



saxsrebi 

11 


(321) 





ss `sb iberia 2” 

2009 wlis 19 agvistos ss `sb imobiliarem”, bankis srul mflobelobaSi arsebulma 

Svilobilma kompaniam SeiZina ss `sb iberia 2”-is 100%, saqarTveloSi moqmedi uZravi 

qonebis developeri kompania. ss `sb iberia 2”-is gansazRvradi aqtivebis, valdebulebebisa 

da pirobiTi valdebulebebis samarTliani Rirebulebebi SeZenis TariRisaTvis Sefasda 

Semdegi saxiT: 

43



(aTas larSi) 



SeZenisas 

aRiarebuli 

samarTliani 

Rirebuleba 

sabalanso 

Rirebuleba 


sainvesticio qoneba 8,083 8,083 

gadavadebuli mogebis gadasaxadebi aqtivebze 778 778 

winaswar gadaxdili Tanxebi 6 6 


8,945 8,945 

sakredito institutebis mimarT gadasaxdeli Tanxebi 5,913 5,913 

gadavadebuli mogebis gadasaxadebi valdebulebebze 8 8 

5,921 5,921 

sufTa aqtivebis samarTliani Rirebuleba 3,024 3,024 


RirebulebaSi (100%) 3,024 

SeZenis dros warmoqmnili gudvili 744 

gadaxdili safasuri 3,768 

wminda fuladi saxsrebis gadineba SeZenisas iyo: 

2009 

gadaxdili fuladi saxsrebi (2,286) 


saxsrebi 

14 


(2,272) 





44



(aTas larSi) 

6. informacia segmentebis Sesaxeb 

marTvis mizniT produetbsa da momsaxurebebze dayrdnobiT, jgufi dayofilia Svid biznes 

segmentad: 

sacalo sabanko momsaxureba (biji bankis da bienbi-s sacalo sabanko momsaxurebis gareSe) 

- ZiriTadad uzrunvelyofs samomxmareblo sesxebs, ipoTekur sesxebs, 

overdraftebs, sakredito baraTebs da kreditirebis sxva wyaroebs da sxva 

sakredito wyaroebs iseve rogorc saxsrebis gadaricxvis da angariSsworebis 

momsaxurebebs, marTavs rogorc fizikuri pirebis, aseve iuridiuli pirebis 

meanabreTa depozitebs, romelic moicavs did segments, sacalo masobriv 

bazrebs, mcire da saSualo sawarmoebsa da mikro bizness. 

korporatiuli sabanko momsaxureba (biji bankis da bienbi-s sacalo sabanko momsaxurebis 

gareSe) - ZiriTadad uzrunvelyofs sesxebsa da sxva sakredito wyaroebs VIP 

da saSualo da mcire da mikro sawarmoebze didi iuridiuli pirebisTvis, 

Sps saqarTvelos lizingis kompaniis mier uzrunvelyofil finansur lizings, 

iseve uzrunvelyofs saxsrebis gadaricxvis da angariSsworebis 

momsaxurebebs, savaWro safinanso momsaxurebebs da dokumenturi operaciebis 

mxardaWeras, danazogebsa da vadian depozitebs korporatiuli da 

instituciuri klientebisTvis. 

qonebis marTva - ZiriTadad uzrunvelyofs kerZo sabanko momsaxurebebs rezidenti da 

ararezidenti mdidari fizikuri pirebisTvis, iseve rogorc maTi uSualo 

ojaxis wevrebisTvis individualuri midgomebisa da eqskluziurobis 

gamoyenebiT gadaricxul TanxebTan, savaluto kursa an angariSsworebis 

operaciebi saerTo sabanko momsaxurebis gawevasTan an maT danazogebsa da 

vadian depozitebTan dakavSirebiT; qonebis marTva moicavs imave fizikuri 

pirebisTvis qonebis marTvisa da aqtivis marTvis momsaxurebebis gawevas 

sxvadasxva sainvesticio SesaZleblobebis da gansakuTrebiT Seqmnili 

sainvesticio produqtebis saSualebiT. 

korporaciuli centri - ZiriTadad beq-ofisis momsaxurebis gaweva bankis yvela biznes 

segmentisaTvis 

dazRveva da jandacva - ZiriTadad uzrunvelyofs farTo masStabian sicocxlis garda sxva 

dazRvevas da jandacvis momsaxurebebs korporatiuli klientebisa da 

dazRveuli fizikuri pirebisTvis.. 

xelmisawvdomi sacxovrebeli (adre Sedioda aqtivis marTvaSi) - moicavs ss èsbi 

uZravi qoneba”-s, romelic ZiriTadad flobs sainvesticio qonebas, romelic 

mflobelobaSi gadaibara bankma valdebulebis ar Semsrulebeli 

msexeblebisgan, am qonebis marTvas, sacxovrebeli binebis ganaSenianebasa da 

gayidvas 

biji kapitali (adre sabrokero)- ZiriTadad uzrunvelyofs sabrokero saqmianobas, 

korporatiuli dafinansebis momsaxurebebs ZiTiTadad mdidari an SeZlebuli 

fizikuri pirebisa da korporatiuli klientebisTvis. 

BNB & BGB – moicavs ss `beloruski narodni banks” da ss `biji banks” (gasxvisda 2011 wlis 

TebervalSi), ZiriTadad uzrunvelyofs sacalo da korporatiul sabanko 

momsaxurebas belorussa da ukrainaSi. 

liberTi qonsiumer (adre Sedioda aqtivis marTvaSi) – ZiriTadad flobda kerZo kapitalur 

investiciebs ramdenime biznes sawrmoSi rogoricaa Rvinis qarxana, fitnes 

centri, samogzauro saagento, Sida da gare sareklamo kompania, regionuli 

avtomanqanis mflobeloba, sastumroebi da restornebis marTvis qseli da 

sxva ufro mcire investiciebi, yvela gasayidia. 

sxva (adre Sedioda korporatiul centrSi) – moicavs ss `galt end TagarT holding 

jorjia”-s holding kompanias, romelic ZiriTadad flobs investiciebs bankis 

Svilobil kompaniebSi bankis saxeliT. 

am saoperacio segmentis Semdgomi konsolidaciis mizniT da winamdebare konsolidirebul 

finansur angariSebSi ufro srulad warmodgenis mizniT, xelmZRvanelobam daajgufa isini 

45



(aTas larSi) 

6. informacia segmentebis Sesaxeb (gagrZeleba) 

ufro did segmentebad, romelic klasificirebulia Semdegnairad: strategiuli, 

sinergetikuri da ara ZiriTadi. 

xelmZRvaneloba amowmebs misi biznes erTeulebis saqmianobas calke resursebis 

ganawilebisa da saqmianobis Sefasebis Sesaxeb gadawyvetilebis miRebis mizniT. segmentis 

saqmianoba, rogorc qvemoT cxrilSia aRwerili fasdeba mogebisa an zaralisgan 

gansxvavebulad konsolidirebul finansur angariSgebebSi. mogebis gadasaxadebi imarTeba 

jgufis mier da ar nawildeba saoperacio segmentebze. 

saoperacio segmentebs Soris transaqciebi xorcieldeba komerciul safuZvelze mesame 

mxareebTan transaqciebis msgavsad. 

2010 wels jgufma Secvala Tavisi maCvenebelbi ss saqarTvelos bankSi arapirdapir 

Semosavlebsa da arapirdapir xajebTan dakavSirebiT, romelic exeba korporatiul sabanko 

saqmianobas, sacalo sabanko saqmianobas da qonebis marTvas. am cvlilebebma gavlena ar 

moaxdina Svilobil kompaniebze. amis nacvlad moxda mxolod garkveuli arapirdapiri 

Semosavlebisa da arapirdapiri danaxarjebis gadanacvleba ss saqarTvelos bankis 

anagriSgebaSi, rac gavlenas ver moaxdens TviToeuli xazis mTlian segmentebze. 

46



(aTas larSi) 


qvemoT mocemuli cxrili asaxavs saoperacio Semosavals da mogebas da aqtivebisa da valdebulebebis Sesaxeb garkveul informacias jgufis biznes 

segmentebTan dakavSirebiT, 2011 wlis 31 dekembriT dasrulebuli periodisaTvis: 

korporaciuli 

sabanko 

saqme 

sacalo 

sabanko 

saqme 

strategiuli sinergiuli arakorp. 

qonebis 

marTva 

korporat 

iuli 

centri 

dazRveva 

da 

jandacva 

xelmisawvd 

omi 

sacxovrebe 

li 

biji 

kapitali 

BNB 

& BGB* 

liberTi 

qonsumer 

sxva 

kompaniaTa- 

Sorisi 

gaqviTva jami 

Semosavali 

gare saoperacio Semosavali 

wminda saprocento Semosavali 72,823 141,476 5,879 – 1,562 61 234 13,430 (1,164) – – 234,301 

wminda gasamrjelo da sakomisio 

Semosavali 

20,346 49,769 652 – – – 2,542 2,028 – – – 75,337 

ucxouri valutidan wminda Semosavali 

(dabakargi) 

29,018 12,213 706 – (779) (51) (136) 35,763 (293) – – 76,441 

sxva gare Semosavlebi (xarjebi) 6,609 5,990 168 – 29,757 1,364 196 (15) 11,071 – – 55,140 

saoperacio mogeba (xarjebi) sxva 

segmentebidan 

6,644 1,597 (48) – (67) (567) 92 (246) (38) (199) (7,168) – 

Semosavali 135,440 211,045 7,357 – 30,473 807 2,928 50,960 9,576 (199) (7,168) 441,219 

saprocento Semosavlis 

mqone aqtivebze gaufasurebis xarji 

25,576 (3,107) (51) – – – – 1,460 – – (345) 23,533 

Sedegebi 

mogeba (zarali) gagrZelebuli 

operaciebidan mogebis gadasaxadis 

danaxarjebamde 60,106 110,366 3,616 (23,394) 7,263 (1,213) (1,864) 19,563 (2,357) (377) 345 172,054 

mogebis gadasaxadis xarjebi (21,125) 

wminda danakargi Sewyvetili operaciebidan (15,219) 

wliuri mogeba 135,710 

aqtivebi da valdebulebebi 

segmentis aqtivebi 2,215,730 2,164,177 37,646 3,183 155,660 68,268 18,034 93,289 43,181 536 (157,782) 4,641,922 

gaunawilebeli aqtivebi 23,339 

sul aqtivebi 4,665,261 

segmentis valdebulebebi 1,996,036 1,268,023 451,542 – 112,573 32,242 46,704 54,875 11,022 7 (157,782) 3,815,242 

gaunawilebeli valdebulebebi 37,416 

sul valdebulebebi 3,852,658 

sxva informacia 

ZiriTadi saSualebebi 12,992 34,638 663 – 14,899 11,233 89 1,418 831 – – 76,763 

aramaterialuri aqtivebi 1,524 4,304 77 – 275 15 12 168 68 – – 6,443 

kapitaluri danaxarjebi:: 14,516 38,942 740 – 15,174 11,248 101 1,586 899 – – 83,206 

cveTa 5,192 14,427 260 – 887 71 120 1,642 994 – – 23,593 

amortizacia 800 2,593 39 – 48 – 17 161 3 – – 3,661 

gaufasurebis xarji – – – 23,394 – – – – – – – 23,394 

invsticiebi dakavSirebul sawarmoebSi – – – – – – – – 3,014 – – 3,014 

dakavSirebuli mxareebis danakargis wili – – – – – – – – (487) – – (487) 

* ss beloruski narodni bank (BNB) da ss biji banki (BGB). 

47



(aTas larSi) 


qvemoT mocemuli cxrili asaxavs saoperacio Semosavals da mogebas da aqtivebisa da valdebulebebis Sesaxeb garkveul informacias jgufis 

biznes segmentebTan dakavSirebiT, 2010 wlis 31 dekembriT dasrulebuli periodisaTvis: 

korporaciuli 

sabanko 

saqme 

sacalo 

sabanko 

saqme 


qonebis 

marTva 

korporat 

iuli 

centri 

dazRveva 

da 

jandacva 

xelmisawvd 

omi 

sacxovrebe 

li 

biji 

kapitali 

BNB 

& BGB* 

liberTi 

qonsumer 

sxva 

kompaniaTa- 

Sorisi 

gaqviTva jami 

Semosavali 

gare saoperacio Semosavali 

wminda saprocento Semosavali 74,756 116,378 3,053 – 700 27 270 21,684 (524) – – 216,344 


Semosavali 

16,604 42,141 499 – 86 – 1,164 2,926 – – – 63,420 


(dabakargi) 

21,387 9,211 642 – 267 30 52 2,252 (92) – – 33,749 

sxva gare Semosavlebi (xarjebi) 


(2,130) 1,184 (53) – 19,465 2,257 3,009 749 8,639 – – 33,120 

segmentebidan 

12,484 527 – – 380 (1,371) (231) (426) (536) 154 (10,981) – 

Semosavali 123,101 169,441 4,141 – 20,898 943 4,264 27,185 7,487 154 (10,981) 346,633 

saprocento Semosavlis 


Sedegebi 

mogeba (zarali) mogebis gadasaxadis 

sargeblamde 

12,801 29,073 (2,632) – – – – 4,096 – – 773 44,111 

68,740 39,952 2,028 – 5,568 (3,747) (4,838) (3,605) (4,964) 82 (773) 98,443 

mogebis gadasaxadis sargebeli (15,776) 

wliuri zarali 82,667 


segmentis aqtivebi 1,745,431 1,746,185 43,083 28,265 83,380 28,448 20,013 342,353 44,765 – (97,426) 3,984,497 



segmentis valdebulebebi 1,552,368 1,176,859 261,638 – 61,542 3,193 41,435 264,069 12,751 – (97,426) 3,276,429 



sxva informacia segmentebis Sesaxeb 

ZiriTadi saSualebebi 6,157 19,006 482 – 3,290 34 144 6,743 578 – – 36,434 

aramaterialuri aqtivebi 1,347 3,540 85 – 39 6 3 355 3,473 – – 8,848 

kapitaluri danaxarjebi:: 7,504 22,546 567 – 3,329 40 147 7,098 4,051 – – 45,282 

cveTa 4,980 16,107 402 – 634 125 163 1,190 909 – – 24,510 

amortizacia 629 2,401 50 – 29 – 29 305 10 – – 3,453 

gaufasurebis xarji 318 108 9 – – – – – – – – 435 


dakavSirebuli mxareebis danakargis wili – – – – – – – – 255 – – 255 

* ss beloruski narodni bank (BNB) da ss biji banki (BGB). 

48



(aTas larSi) 


qvemoT mocemuli cxrili asaxavs saoperacio Semosavals da mogebas da aqtivebisa da valdebulebebis Sesaxeb garkveul informacias jgufis biznes 

segmentebTan dakavSirebiT, 2009 wlis 31 dekembriT dasrulebuli periodisaTvis: 


korporaciuli 

sabanko 

saqme 

sacalo 

sabanko 

saqme 

qonebis 

marTva 

korporat 

iuli 

centri 

dazRveva 

da 

jandacva 

xelmisawvd 

omi 

sacxovrebe 

li 

biji 

kapitali 

BNB 

& BGB* 

liberTi 

qonsumer 

sxva 

kompaniaTa- 

Sorisi 

gaqviTva jami 

Semosavali 

gare saoperacio Semosavali: 

wminda saprocento Semosavali 48,844 117,679 2,340 – (36) (188) 333 21,612 (43) – – 190,541 


Semosavali 

13,095 34,895 342 – 1,006 – 2,305 3,382 – – – 55,025 


(dabakargi) 

13,886 9,706 718 – 61 (413) 808 4,307 10 – – 29,083 

sxva gare Semosavlebi (xarjebi) 


8,599 125 337 – 17,346 (12,869) 3,336 1,120 2,248 – – 20,242 

segmentebidan 

11,327 138 – – 947 (1,214) 370 (1,261) (2,620) (403) (7,284) – 

Semosavali 95,751 162,543 3,737 – 19,324 (14,684) 7,152 29,160 (405) (403) (7,284) 294,891 

saprocento mogebis 


Sedegebi 

mogeba (zarali) saSemosavlo gadasaxadis 

sargeblamde 

12,667 69,598 3,626 – – – – 41,277 – – (1,427) 125,741 

36,847 5,229 (4,677) (68,550) 2,969 (26,918) (1,788) (43,527) (6,914) (4) 1,427 (105,906) 

mogebis gadasaxadis sargebeli 6,998 

wliuri zarali (98,908) 


segmentis aqtivebi 1,184,586 1,313,041 49,467 28,265 70,618 49,510 14,446 273,670 31,178 15 (124,851) 2,889,945 



segmentis valdebulebebi 995,144 939,268 163,067 – 54,034 36,130 36,719 187,570 2,696 – (124,851) 2,289,777 



sxva informacia segmentebis Sesaxeb 

ZiriTadi saSualebebi 10,017 8,681 500 – 960 10 312 2,713 234 – – 23,427 

aramaterialuri aqtivebi 2,349 1,406 82 – 22 4,650 49 587 371 – – 9,516 

kapitaluri danaxarjebi:: 12,366 10,087 582 – 982 4,660 361 3,300 605 – – 32,943 

cveTa 10,469 9,028 520 – 555 289 63 1,211 381 – – 22,516 

amortizacia 1,619 1,000 58 – 19 – 20 194 2 – – 2,912 

gaufasurebis xarji – – – 68,381 – 4,650 – 3,200 41 – – 76,272 


dakavSirebuli mxareebis danakargis wili – – – – – – – – (2,649) – – (2,649) 

*ss beloruski narodni bank (BNB) da ss biji banki (BGB). 

49




(aTas larSi) 


geografiuli informacia 

jgufi funqcionirebs sam ZiriTad geografiul bazarze: (a) saqarTvelo da (b) ukraina da 

kviprosi da (g) belorusia. Semdegi cxrili asaxavs jgufis gare Semosavlis, mTliani 

aqtivebis da kapitaluri danaxarjebis ganawilebas geografiuli segmentis mixedviT, rac 

ganawilebulia jgufis aqtivebis adgilmdebareobaze dayrdnobiT, 2011 wlis 31 dekembriT 

dasrulebuli periodisaTvis: 

saqarTvelo 

31 dekemberi 


ukraina da 

kviprosi 

31 dekemberi 


belorusia 

31 

dekemberi 


jami 

31 

dekemberi 


gare Semosavali 

wminda saprocento Semosavali 220,871 452 12,978 234,301 

wminda Semosavali 

gasamrjelodan da sakomisiodan 

73,401 49 1,887 75,337 

wminda Semosavlebi (danakargi) 

ucxouri valutidan 

40,813 (24) 35,652 76,441 

sxva arasaprocento Semosavali 

(danakargi) 

55,155 6 (21) 55,140 

sul gare Semosavali 390,240 483 50,496 441,219 

sul aqtivebi 4,571,776 – 93,485 4,665,261 

kapitaluri danaxarjebi 81,620 – 1,586 83,206 

Semdegi cxrili asaxavs jgufis gare Semosavlis, mTliani aqtivebis da kapitaluri 

danaxarjebis ganawilebas geografiuli segmentis mixedviT, rac ganawilebulia jgufis 

aqtivebis adgilmdebareobaze dayrdnobiT, 2010 wlis 31 dekembriT dasrulebuli 

periodisaTvis: 

saqarTvelo 

31 dekemberi 

2010 

ukraina da 

kviprosi 

31 dekemberi 

2010 

belorusia 

31 

dekemberi 

2010 

jami 

31 

dekemberi 

2010 


wminda saprocento Semosavali 196,356 9,800 10,188 216,344 

wminda Semosavali gasamrjelodan 

da sakomisiodan 

58,629 3,133 1,658 63,420 



29,438 2,817 1,494 33,749 


(danakargi) 

29,842 2,020 1,258 33,120 

sul gare Semosavali 314,265 17,770 14,598 346,633 

sul aqtivebi 3,664,312 235,582 105,028 4,004,922 

kapitaluri danaxarjebi 38,115 5,420 1,747 45,282 

Semdegi cxrili asaxavs jgufis gare Semosavlis, mTliani aqtivebis da kapitaluri 

danaxarjebis ganawilebas geografiuli segmentis mixedviT, rac ganawilebulia jgufis 

aqtivebis adgilmdebareobaze dayrdnobiT, 2009 wlis 31 dekembriT dasrulebuli 

periodisaTvis 

50




(aTas larSi) 

saqarTvelo 

31 dekemberi 

2009 

ukraina da 

kviprosi 

31 dekemberi 

2009 

belorusia 

31 

dekemberi 

2009 

jami 

31 dekemberi 

2009 


wminda saprocento Semosavali 169,167 16,417 4,957 190,541 

wminda Semosavali gasamrjelodan 

da sakomisiodan 

50,132 3,404 1,489 55,025 



23,977 3,480 1,626 29,083 


(danakargi) 

14,722 5,094 426 20,242 

sul gare Semosavali 257,998 28,395 8,498 294,891 

sul aqtivebi 2,600,684 232,730 80,015 2,913,429 

kapitaluri danaxarjebi 29,338 3,214 391 32,943 

ara mimdinare aqtivebis Tanxebi, garda sxva finanusri instrumentebisa, romlebic 

koncentrirebulia saqartvelos farglebs gareT umniSvneloa jgufis mTlian aqtivebTan 

SedarebiT 

7. fuli da fulis eqvivalentebi 

2011 2010 2009 

naRdi fuli 163,001 161,749 154,861 

mimdinare angariSebi centralur bankebSi, garda 

savaldebulo rezervebisa 

54,830 58,958 44,101 

mimdinare angariSebi sxva sakredito dawesebulebebSi 304,910 161,290 34,944 

90 dRemde vadiani depozitebi sakredito 

dawesebulebebSi 

105,990 229,587 123,983 

fuli da fulis eqvivalentebi 628,731 611,584 357,889 

2011 wlis 31 dekembris mdgomareobiT, 304,231lari (2010: 367,956 lari, 2009: 127,816lari) 

Setanil iqna mimdinare da vadiani depozitis angariSebze saerTaSorisod aRiarebul 

“eTgo”-s wevri qveynebis bankebSi, romlebic jgufis saerTaSoriso garigebebSi monawile 

SeTanxmebuli mxareebi arian. jgufi, saSualod wliur 5.1%-mde gamoimuSavebda 

aRniSnul depozitebze (2010: 1.74%, 2009: 0.17%). 

8. moTxovnebi sakredito dawesebulebebis mimarT 

2011 2010 2009 

savaldebulo rezervebi centralur bankebSi 270,335 90,378 41,791 

90 dReze meti vadis mqone vadiani depozitebi 14,318 20,809 18,599 

bankTa Soris sasesxo moTxovnebi 4,877 5,282 4,230 

moTxovnebi sakredito dawesebulebebis mimarT 289,530 116,469 64,620 

savaldebulo rezervebi centralur bankebSi warmoadgens `seb~-Si (`saqarTvelos 

erovnuli banki~), ùeb~-Si (ùkrainis erovnuli banki~) da `beb~-Si (`belorusiis 

erovnuli banki~) depozitis saxiT Setanil Tanxebs, romlebic dakavSirebulia 

yoveldRiur garigebebTan da sxva RonisZiebebTan. sakredito dawesebulebebs 

51




(aTas larSi) 

moeTxovebaT saprocento sargeblis mqone fuladi depoziti (savaldebulo rezervi) 

centralur bankebSi, romlis odenobac damokidebulia sakredito dawesebulebis mier 

moziduli saxsrebis moculobaze. jgufis ufleba amgvari depozitebis gamotanasTan 

dakavSirebiT izRudeba kanonmdeblobiT. jgufma savaldebulo rezervebze `seb~-Tan 2011, 

da 2010 wlebis 31 dekembrisTvis gamoimuSava wliur 1%-mde. 2009 wels `seb~-Tan 

savaldebulo rezervebTan dakavSirebiT jgufma gamoimuSava daaxloebiT 2% wliuri 

procenti 

2011 wlis 31 dekembris mdgomareobiT, 277 lari (2010: 14,538, 2009: 10,940lari) ganTavsda 

mimdinare angariSebze da bankTa Soris depozitebze, saerTaSoriso doneze aRiarebul 

sam (2010: sami, 2009: Svidi) “eTgo”-s bankSi. es Tanxebi Seusrulebeli valdebulebebis 

uzrunvelyofis saxiT giraoSi Cadebul iqna SeTanxmebuli mxaris bankSi. 

2011 wlis 31 dekembris mdgomareobiT, bankTa Soris sasesxo moTxovnebi Seicavs 4,176 

lars (2010: 4,436, 2009: 4,215 lari), romlebic gacemulia azerbaijanul bankze. 

9. klientebze gacemuli sesxebi 

2011 2010 2009 

komerciuli sesxebi 1,363,058 1,424,550 939,814 

samomxmareblo sesxebi 516,733 383,615 332,537 

sacxovrebeli ipoTekuri sesxebi 390,997 409,786 387,415 

mikro da mcire da saSualo saw. sesxebi 318,566 238,462 99,981 

oqros giravnobiT gacemuli sesxebi 78,785 66,749 62,829 

sxva – 4,071 5,241 

klientebze gacemuli sesxebi, jamuri 2,668,139 2,527,233 1,827,817 

gamoklebuli sesxis gaufasurebis rezervi (114,697) (175,536) (166,486) 

klientebze gacemuli sesxebi, wminda 2,553,442 2,351,697 1,661,331 

52




(aTas larSi) 

9. klientebze gacemuli sesxebi (gagrZeleba) 

sesxis gaufasurebis rezervi 

momxmareblebze gacemuli sesxebis gaufasurebis rezervis dinamika tipebis mixedviT 

Semdegia: 

komerciuli 

sesxebi 


samomxmareblo 

sesxebi 


ipoTekuri 

sesxebi 


mikrosesxebi 


sxva jami 

2011 2011 

1 ianvars 114,499 31,873 22,424 5,951 789 175,536 

daricxva 24,017 (1,086) 1,033 (721) (27) 23,216 

amoReba 2,900 15,158 7,404 3,387 – 28,849 

Camowera (23,752) (15,459) (7,881) (2,639) – (49,731) 

Svilobili kompaniis gasxviseba (43,593) – (11,714) (65) (803) (56,175) 

gaufasurebul sesxebze daricxuli (3,997) (1,390) (1,569) (349) – (7,305) 

sakurso sxvaobebi 32 (99) 330 3 41 307 

31 dekembers 70,106 28,997 10,027 5,567 – 114,697 

individualuri gaufasureba 61,852 7,304 5,173 1,841 – 76,170 

koleqtiuri gaufasureba 8,254 21,693 4,854 3,726 – 38,527 

70,106 28,997 10,027 5,567 – 114,697 

sesxis mTliani Tanxa, romelic 

individualurad gansazRvrulia, rogorc 

gaufasurebuli nebismieri individualurad 

Sefasebuli gaufasurebis rezervis 

gamoqviTvamde 

206,030 15,195 21,709 5,492 – 248,426 

komerciuli 

sesxebi 

2010 

samomxmareblo 

sesxebi 

2010 

ipoTekuri 

sesxebi 

2010 

mikrosesxebi 

2010 

sxva jami 

2010 2010 

1 ianvars 82,042 54,989 23,490 3,788 2,177 166,486 

daricxva 23,932 7,571 18,440 1,474 (1,531) 49,886 

amoReba 21,090 15,208 3,249 3,150 42 42,739 

Camowera (13,074) (42,798) (19,441) (2,138) – (77,451) 

gaufasurebul sesxebze daricxuli (1,392) (3,306) (3,681) (360) – (8,739) 

sakurso sxvaobebi 1,901 209 367 37 101 2,615 

31 dekembers 114,499 31,873 22,424 5,951 789 175,536 

individualuri gaufasureba 68,145 13,148 16,606 2,433 315 100,647 

koleqtiuri gaufasureba 46,354 18,725 5,818 3,518 474 74,889 

114,499 31,873 22,424 5,951 789 175,536 


individualurad gansazRvrulia, rogorc 

gaufasurebuli nebismieri individualurad 

Sefasebuli gaufasurebis rezervis 

gamoqviTvamde 

192,778 21,996 51,585 9,051 973 276,383 

53




(aTas larSi) 


sesxis gaufasurebis rezervi 

momxmareblebze gacemuli sesxebis gaufasurebis rezervis dinamika tipebis mixedviT 

Semdegia: 

komerc samomxmakomerci- 

i-uli reblo ipoTekuri mikrouli 

sesxebi sesxebi sesxebi sesxebi sxva jami sesxebi 

2009 2009 2009 2009 2009 2009 2009 

1 ianvars 45,755 42,153 7,969 4,921 – 5,803 106,601 

daricxva 44,357 52,839 19,023 5,981 8 (3,326) 118,882 

amoReba 17,839 8,469 2,170 2,016 – 11 30,505 

Camowera (24,295) (43,073) (5,209) (8,207) (8) (1) (80,793) 

daricxuli gaufasurebul sesxebze (1,088) (5,216) (396) (891) – – (7,591) 

sakurso sxvaobebi (526) (183) (67) (32) – (310) (1,118) 

31 dekembers 82,042 54,989 23,490 3,788 – 2,177 166,486 

individualuri gaufasureba 75,684 42,824 20,479 1,907 – – 140,894 

koleqtiuri gaufasureba 6,358 12,165 3,011 1,881 – 2,177 25,592 

82,042 54,989 23,490 3,788 – 2,177 166,486 


individualurad gansazRvrulia, 

rogorc gaufasurebuli nebismieri 

individualurad Sefasebuli 

gaufasurebis rezervis gamoqviTvamde 

individualurad gaufasurebuli sesxebi 

351,835 67,345 84,448 6,731 – 2,037 512,396 

sesxebze daricxuli saprocento Semosavali, romlisTvisac 2011 wlis 31 dekembris 

mdgomareobiT asaxulia individualuri gaufasurebis rezervi, Seadgenda 14,914 lars 

(2009: 18,640 lars: 2009: 17,055 lari). 

girao da kreditis sxva uzrunvelyofa 

giraos moculoba da tipi damokidebulia SeTanxmebuli mxaris sakredito riskis 

Sefasebaze. SemuSavebulia instruqcia damokidebulia misaRebi giraos tipebis da 

Sefasebis parametrebze 

miRebuli giraos ZiriTadi tipebia: 

- komerciuli sesxebisaTvis - uZravi qoneba, inventari da savaWro moTxovnebi. 

- sacalo sesxebisaTvis - sacxovrebeli uZravi qonebis girao. 

xelmZRvaneloba amowmebs giraos sabazro Rirebulebas, iTxovs damatebiT giraos 

xelSekrulebis mixedviT, da amowmebs sesxis gaufasurebis rezervis adeqvaturobis 

ganxilvisas miRebuli giraos sabazro Rirebulebas 

54




(aTas larSi) 


klientebze gacemuli sesxebis koncentracia 

2011 wlis 31 dekembris mdgomareobiT, jgufis mier aTi umsxvilesi mesame mxarisaTvis 

gacemuli sesxebis koncentracia Seadgenda 402,989 lars, rac Seadgens jgufis mTliani 

sasesxo portfelis 15%-s (2010: 383,971 and 15%, 2009: 206,981 and 11% Sesabamisad). am sesxebTan 

mimarTebaSi dadginda 7,033 laris (2010: 3,837, 2009: 9,891lari) odenobis rezervi. 

2011 wlis, 2010 wlis da 2009 wlis 31 dekembris mdgomareobiT, sesxebi ZiriTadad gaicema 

saqarTveloSi, xolo maTi ganawileba seqtorebis mixedviT Semdegia: 

2011 2010 2009 

fizikuri pirebi 1,132,740 1,006,046 862,365 

vaWroba da momsaxureba 972,290 858,878 578,623 

mSenebloba da developmenti 228,412 274,623 150,676 

samompoveblo samuSaoebi 122,771 137,583 62,622 

transporti da komunikacia 83,289 77,792 81,532 

energetika 65,360 62,424 11,667 

soflis meurneoba 8,709 18,089 13,730 

sxva 54,568 91,798 66,602 


sesxis gaufasurebis rezervis gamoklebiT (114,697) (175,536) (166,486) 


sesxebi gaica momxmareblebis Semdeg tipebze: 

2011 2010 2009 

kerZo kompaniebi 1,492,124 1,488,577 934,494 

fizikuri pirebi 1,132,740 1,006,046 862,365 

saxelmwifo organizaciebi 43,275 32,610 30,958 


sesxis gaufasurebis rezervis gamoklebiT (114,697) (175,536) (166,486) 


qvemoT mocemulia 2011 wlis, 2010 wlis da 2009 wlis 31 dekembrisTvis klientebze 

gacemuli sesxebis gaufasurebis zaralebisaTvis individualuri da koleqtiuri 

gaufasurebis rezervebis Sedareba 

2011 2010 2009 

individualuri 

koleqtiuri 

jami 


koleqtiuri 

jami 


koleqtiuri 

gaufasu- 


gaufasu- 

2011 2011 

gaufasu- 

2010 

gaufasu- 

2010 2010 

gaufasu- 

2009 

gaufasu- 

2009 2009 

1 ianvars 

daricxva 

100,647 74,889 175,536 140,894 25,592 166,486 72,614 33,987 106,601 

(Sebruneba) wlis 20,135 3,081 23,216 (8,950) 58,836 49,886 105,477 13,405 118,882 

manZilze 

aRdgena 16,563 12,286 28,849 25,247 17,492 42,739 17,237 13,268 30,505 

Camowera (39,342) (10,389) (49,731) (54,534) (22,917) (77,451) (49,587) (31,206) (80,793) 

Svilobili.komp. 

(16,110) (40,065) (56,175) – – – – – – 

gasxviseba 

klientebze 

gacemuli sesxebis 

gaufasurebaze 

daricxuli 

procenti 

(6,094) (1,211) (7,305) (7,216) (1,523) (8,739) (3,801) (3,790) (7,591) 

sakurso sxvaobebi 371 (64) 307 5,206 (2,591) 2,615 (1,046) (72) (1,118) 

31 dekemberi 76,170 38,527 114,697 100,647 74,889 175,536 140,894 25,592 166,486 

jami 

55




(aTas larSi) 

10. moTxovnebi finansuri ijaridan 

2011 2010 2009 

minimaluri moTxovnebi finansuri ijaridan 82,682 18,521 27,816 

finansuri ijaridan gamoumuSavebeli 

Semosavlis gamoklebiT 

(19,323) (3,514) (3,776) 

63,359 15,007 24,040 

gaufasurebis rezervis gamoklebiT (440) (588) (7,144) 

moTxovnebi finansuri ijaridan, wminda 62,919 14,419 16,896 

samomavlod misaReb minimalur salizingo gadaxdebsa da finansuri ijaridan moTxovnebs 

Soris sxvaoba warmoadgens gamoumuSavebel finansur Semosavals. 

2011 wlis 31 dekembris mdgomareobiT, xuT umsxviles moijareSi investiciebis 

koncentraciam Seadgina 52,573 lari, an finansuri ijaridan mTliani moTxovnebis 83% 

(2010: 3,541lari an 24%, 2009: 16,013 lari an 67%), xolo maTgan miRebulma finansurma 

Semosavalma 2011 wlis 31 dekembrisTvis Seadgina 2,986 lari an ijaridan miRebuli 

mTliani finansuri Semosavlis 52% (2010: 479 lari an 12%, 2009: 1,567 lari an 27.%). 

samomavlo minimaluri salizingo gadaxdebi, romlebic miRebul unda iqna 2011, 2010 wlis 

31 dekembris da 2009 wlis 31 dekembris Semdgom, Semdegia: 

2011 2010 2009 

1 wlis ganmavlobaSi 18,485 10,266 19,693 

1-dan 5 wlamde 43,543 8,255 8,123 

5 welze meti 20,654 – – 

minimaluri salizingo gadaxdis moTxovnebi 82,682 18,521 27,816 

minimaluri salizingo gadaxda, romelic miRebuli unda iqna 2011, 2010 da 2009 wlis 31 

dekembris Semdeg, gamosaxulia Semdeg valutebSi: 

2011 2010 2009 

aSS dolari 74,836 5,840 9,554 

evro 4,984 7,993 5,851 

belorusiuli rubli 2,571 4,688 1,035 

ukrainuli grivna 291 – 11,376 

minimaluri salizingo gadaxdis moTxovnebi 82,682 18,521 27,816 

ZiriTadi saSualebebi, romelTac jgufi iRebs ijariT 2011, 2010 da 2009 wlebis 31 

dekembris mdgomareobiT, SeiZleba daiyos Semdeg kategoriebad: 

Tanxa 

2011 2010 2009 

proeqtebis 

raodenoba Tanxa 

proeqtebis 

raodenoba Tanxa 

proeqtebis 

raodenoba 

avia da saxmeleTo transporti 68,570 93 10,022 141 7,559 116 

danadgarebi da mowyobilobebi 8,847 133 4,356 38 3,885 31 

samSeneblo mowyobiloba 5,265 54 4,143 30 16,372 21 

minimaluri salizingo gadaxdis 

moTxovnebi 

82,682 280 18,521 209 27,816 168 

10. moTxovnebi finansuri ijaridan (gagrZeleba) 

56




(aTas larSi) 

finansuri ijaridan moTxovnebis gaufasurebis rezervis dinamika Semdegia: 

finansuri 

ijaridan 

moTxovnebi 2011 

finansuri 

ijaridan 

moTxovnebi 2010 

finansuri 

ijaridan 

moTxovnebi 

2009 

1 ianvari 588 7,144 2,163 

daricxva 317 (5,775) 6,859 

anazRaureba – – 2,074 

Camowerili Tanxebi (193) (1,210) (3,689) 

sakurso sxvaoba (272) 429 (263) 

31 dekemberi 440 588 7,144 

individualuri gaufasureba 93 232 6,916 

koleqtiuri gaufasureba 347 356 228 

finansuri ijaridan moTxovnebis mTliani 

moculoba, rac individualurad gansazRvrulia, 

rogorc gaufasurebuli, nebismieri 

individualurad Sefasebuli gaufasurebis 

rezervis gamoqviTvamde 

11. sainvesticio fasiani qaRaldebi 

440 588 7,144 

155 – 13,703 

gasayidad arsebuli fasiani qaRaldebi moicavs 

2011 2010 2009 

centraluri bakebis depozitis sertifikatebi 199,142 104,969 – 

finansTa saministros bondebi 120,255 52,120 – 

finansTa saministros saxazino Tamasuqebi 88,657 128,539 4,044 

korporaciuli aqciebi 11,501 11,294 13,418 

korporaciuli obligaciebi 21 – 2,946 

419,576 296,922 20,408 

gamoklebuli gaufasurebis daxmareba (SeniS.17) – (1,982) (818) 

gasayidad arsebuli fasiani qaRaldebi 419,576 294,940 19,590 

2011 wlis 31 dekembris mdgomareobiT, korporaciuli aqciebi upirveles yovlisa Sedgeba 

investiciebiT: PJSC Bank Pershyi (yofili ss biji banki) 3,837 lari (2010, 2009:nuli), 

investicia saafTiaqo qselSi 2,776 lari (2010: 4,282, 2009: 4,413) da 3,146 lari qarTul 

sacalo savaWro qselSi (2010: 3,146 lari, 2098: 2,677 lari) da 1,145 lari uZravi qonebis 

kompaniaSi (2010: 1,145 lari, 2009: nuli). 

nominaluri saprocento ganakveTebi da am fasiani qaRaldebis vadebi Semdegia: 

% 

2011 2010 2009 

vadis 

amowurva 

% 

vadis 

amowurva 

% 

vadis 

amowurva 

centraluri bakebis depozitis 

sertifikatebi 

8.04 1 9.98 1 – – 

finansTa saministros bondebi 12.76 1-2 15.32 1-2 – – 

finansTa saministros saxazino Tamasuqebi 9.69 1 10.03 1 9.50 1-2 

korporaciuli Tamasuqebi 15.00 1 – – 19.76 1-2 

57




(aTas larSi) 

11. sainvesticio fasiani qaRaldebi (gagrZeleba) 

vadis amowurvamde SenarCunebadi fasiani qaRaldebi Seicavs: 

sabalanso 

Rirebuleba 

2011 2010 2009 

nominal. 

Rirebuleba 

sabalanso 

Rirebuleb 

a 

nominal. 

Rirebule 

ba 

sabalanso 

Rirebule 

ba 

nominal. 

Rirebule 

ba 

korporaciuli obligaciebi – – 21 20 – – 

centraluri bakebis depozitis 

sertifikatebi 

– – – – 105,143 105,624 

finansTa saministros saxazino 

Tamasuqebi 

– – – – 144,053 149,124 

saxelmwifo valis fasiani 

qaRaldebi 

– – – – – – 

vadis amowurvamde SenarCunebadi 

fasiani qaRaldebi 

– – 21 20 249,196 254,748 

sakontraqto saprocento ganakveTebis da am fasiani qaRaldebis vada Semdegia: 

% 

2011 2010 2009 

vadis 

amowur 

va 

% 

vadis 

amowur 

va 

% 

vadis 

amowurv 

a 

korporaciuli obligaciebi – – 10.00 2011 – – 

centraluri bakebis depozitis sertifikatebi – – – – 3.11 2010 

finansTa saministros saxazino Tamasuqebi – – – – 6.33 2010 

saxelmwifo valis fasiani qaRaldebi – – – – – – 

2010 wlis meore naxevarSi, jgufma gayida dafarvamde Senaxulad klasificirebuli 

sainvesticio fasiani qaRaldebis nawili. am garigebis Semdeg, jgufma moaxdina 

darCenili investiciebis gasayidad arsebulis kategoriad reklasificireba, rogorc 

aRwerilia bass 39-is 52-e paragrafSi. reklasificirebuli finansuri aqtivebis Sesaxeb 

informacia warmodgenilia qvemoT cxrilSi 

31 dekemberi 2010 

amortizaciis 

xarjebi 

samarTliani 

Rirebuleba 

samarTliani 

Rirebulebis mogeba 

(zarali) aRiarebuli 

sxva mTlian 

SemosavalSi 

centraluri bankebis saxazino 

Tamasuqebi 

123,785 124,045 260 

centraluri bankebis sadepozito 

sertifikatebi 

104,982 104,969 (13) 

centraluri bankebis saxazino 

obligaciebi 

51,542 52,120 578 

sul reklasificirebuli 280,309 281,134 825 

58




(aTas larSi) 

12. investiciebi mokavSire sawarmoebSi 

Semdegi mokavSire sawarmoebis gaTvaliswineba xdeba kapitalis meTodis safuZvelze: 

mflobelo- 

31 dekemberi 2011 

ba / xmis 

registracii 

SeZenis 

mokavSire sawarmoebi ufleba, % qveyana s TariRi qveyana TariRi 

ss `n turi~ 30.00% saqarTv 1/11/2001 

turistuli 

momsaxureba 

29/05/2008 

ss `sastumroebisa da 

restornebis menejment jgufi– 

m/group” 

25.00% saqarTv 30/05/2005 

sakvebis 

sacalo 

vaWroba 

29/05/2008 

JSC iCall 

27.03% saqarTv 

e-lo 

22/03/2005 qol centri 22/11/2006 

ss `kaukazus otomoutiv 

riTeil~ 

30.00% saqarT. 18/04/2008 

avtomobilebis 

sacalo 

gayidva 

2/05/2008 

Sps ` stili +~ 32.45% saqarTv 

e-lo 

1/08/2005 sareklamo 7/08/2008 

mflobelo- 


ba / xmis 

registracii 

SeZenis 

mokavSire sawarmoebi ufleba, % qveyana s TariRi saqmianoba TariRi 


turistuli 

momsaxureba 

29/05/2008 


restornebis menejment 

25.00% saqarTv 30/05/2005 

sakvebis sacalo 

vaWroba 

29/05/2008 

ss ài qoli~ 27.03% saqarTv 22/03/2005 qol centri 22/11/2006 

ss ìnfo jorjia XXI~ 50.00% saqarTv 26/04/2001 biznes servisi 20/05/2008 


riTeil~ 

36.14% saqarTv 18/04/2008 

avtomobilebis 

sacalo gayidva 

2/05/2008 

Sps ` stili +~ 32.45% saqarTv 1/08/2005 sareklamo 7/08/2008 

mflobelo- 


ba / xmis 

registracii 

SeZenis 

mokavSire sawarmoebi ufleba, % qveyana s TariRi saqmianoba TariRi 


turistuli 

momsaxureba 

29/05/2008 


restornebis menejment 

jgufi–m/group” 

25.00% saqarTv 30/05/2005 

sakvebis sacalo 

vaWroba 29/05/2008 

ss Teliani veli 27.19% saqarTv 30/06/2000 Rvinis qarx. 13/02/2007 

ss ài qoli~ 27.03% saqarTv 22/03/2005 qol centri 22/11/2006 

ss ìnfo jorjia XXI~ 50.00% saqarTv 26/04/2001 qol centri 20/05/2008 


riTeil~ 

30.00% saqarTv 18/04/2008 

avtomobilebis 

sacalo gayidva 

2/05/2008 

Sps ` stili +~ 32.45% saqarTv 1/08/2005 sareklamo 7/08/2008 

59




(aTas larSi) 

mokavSire sawarmoebSi investiciebis dinamika Semdgia: 

2011 2010 2009 

investiciebi mokavSire sawarmoebSi, wlis dasawyisi, 

jamuri 

7,870 12,834 16,990 

Sesyidvis fasi (2,237) (1,768) – 

Camowera (1,624) – (24) 

gadacema (reklasifikacia) – (3,451) (1,483) 

sufTa mogebis (zaralis) wili (487) 255 (2,649) 

investiciebi mokavSire sawarmoebSi, wlis bolo, 

jamuri 

gaufasurebis rezervis gamoklebiT (SeniSvna 17) 

3,522 

(508) 

7,870 

(2,238) 

12,834 

(2,511) 

investiciebi mokavSire sawarmoebSi, wlis bolo, 

jamuri 

3,014 5,632 10,323 

investiciebi mokavSire sawarmoebSi 2011 wlis 31 dekembris mdgomareobiT moicavs 2,209 

laris odenobis gudvils (2010: 3,399, 2009: 3,120 lari). Camowerili 2,237 lari moicavs 1,148 

laris investicias `n turSi”, 581 lars investicias ss `kavkasus avtomotiv reTeilSi” 

da 508 lars investicias Sps `sTail +-Si, 1,624 lari miiReba ss info jorjia XXI-Si. 

3,451 laris reklasifikacia 2010 wels moicavs investicias ss `Telian velSi”. 2009 wels 

1,483 laris reklasifikacia moicavs investiciebs ès-bi iberiaSi” da ès-bi iberia 2”-Si, 

am kompaniebSi sakontrolo paketis SeZenis Semdeg jgufma am kompaniebis sruli SeZenis 

Rirebulebas daumata wina 1,483 lariani investiciebi da am Tanxam gavlena moaxdina 

fasis ganawilebaze, rac zrdis am SeZenebisTvis saWiro gudvils. 

winamdebare cxrilSi mocemulia garkveuli finansuri informacia mokavSire sawarmoebis 

Taobaze: 

mokavSire sawarmoTa agregirebuli aqtivebi da 

valdebulebebi 

2011 2010 2009 

aqtivebi 13,962 16,610 33,861 

valdebulebebi (8,880) (8,608) (18,329) 

wminda aqtivebi 5,082 8,002 15,532 

mokavSire sawarmoTa mTliani mogeba-zarali 2011 2010 2009 

Semosavali 17,800 20,654 48,672 

mogeba (zarali) (2,550) 712 445 

60




(aTas larSi) 

13. sainvesticio qoneba 

2011 2010 2009 

1 ianvari 113,496 79,509 47,289 

SeZena biznes gaerTianebebis gziT (SeniSvna 5) – – 12,630 

damatebebi * 16,565 35,146 495 

realizaciebi (7,889) (5,490) (755) 

Svilobili kompaniebis saSualebiT gayidvis 

gziT 

(13,654) – – 

wminda cvlileba samarTlian RirebulebaSi 

mogeba-zaralis gavliT 

1,984 350 (4,087) 

transferebi ZiriTadi saSualebebidan da sxva 

aqtivebidan 

(8,816) 3,981 23,937 

31 dekemberi 101,686 113,496 79,509 

*2011 da 2010 damatebebi moicavs gamosyidvas ar daqvemdebarebuli sakuTrebas, fuladi 

garigegbebi ar igulisxmeba. 

sainvesticio qoneba warmodgenilia samarTliani RirebulebiT, romelic ganisazRvra 

akreditebuli damoukidebeli Semfaseblis mier 2011 wlis 31 dekembris mdgomareobiT 

Sefasebis safuZvelze. Semfasebeli kompania warmoadgens am tipis sainvesticio qonebis 

Sefasebis specialists. samarTliani Rirebuleba warmoadgens Rirebulebas, romliTac 

SeiZleba aqtivebis gacvla mcodne, msurvel myidvelsa da mcodne, msurvel gamyidvels 

Soris, komerciuli garigebiT, Sefasebis TariRisTvis, Sefasebis saerTaSoriso 

standartebis komitetis standartebis mixedviT. 

saijaro Semosavali da pirdapiri saoperacio xarji, romelic warmoiqmneba sainvesticio 

qonebidan, Sedgeba: 

2011 2010 2009 

saijaro Semosavali 3,188 2,750 3,026 

pirdapiri saoperacio xarji (225) (136) (114) 

Sesabamis periodebSi saijaro Semosavlis miRebaSi gamoyenebuli iyo pirdapiri 

saoperacio xarjebis mTliani moculoba. 

61




(aTas larSi) 

14. ZiriTadi saSualebebi 

ZiriTadi saSualebebis dinamika 2011 wlis 31 dekembers dasrulebuli wlis ganmavlobaSi 

Semdegia: 

miwa da 

nagebobeb 

i 

aveji da 

mowyobilobebi 

kompiuterebi 

da 

saofise 

teqnika 

avtomobilebi 

ijariT 

aRebuli 

qonebis 

gaumjobesebebi 

samSeneblo 

aqtivebi jami 

gadafasebis Rirebuleba 

31 dekemberi, 2010 w. 150,516 100,559 42,183 8,341 7,530 42,766 351,895 

Sesyidva biznesis 

26,055 1,958 9,461 260 – 646 38,380 

gaerTianebidan (Sen.5) 

mateba 10,696 11,440 8,467 1,803 328 44,029 76,763 

kleba (3,474) (293) (944) (716) (743) (686) (6,856) 


saSualebiT gayidvis gziT 

(5,735) (1,876) (1,192) (649) (175) (751) (10,378) 

transferebi 60,938 252 32 (122) 1,428 (62,528) – 

transferebi sainvesticio 

(2,500) – – – – – (2,500) 

sakuTrebaSi 

gadafaseba (1,561) – – – – – (1,561) 

hiper inflaciis efeqti 9,474 439 703 153 99 172 11,040 

valutis konvertaciis 

koreqtireba 

(11,103) (4,895) (2,051) (552) (514) (2,954) (22,069) 

31 dekemberi 2011 233,306 107,584 56,659 8,518 7,953 20,694 434,714 

akumulirebuli gaufasureba 

31 dekemberi 2010 2,222 262 118 14 – – 2,616 



(1,307) (261) (49) (13) – – (1,630) 

hiper inflaciis efeqti 2,186 34 81 7 – – 2,308 


(475) 2 (44) (2) – – (519) 

koreqtireba 



2,626 37 106 6 – – 2,775 

31 dekemberi 2010 1,629 32,192 21,901 5,187 2,518 – 63,427 

cveTis xarji 2,204 11,626 6,447 1,951 1,365 – 23,593 

hiper inflaciis efeqti 35 112 286 55 9 – 497 

sakurso sxvaoba (1,594) (47) 1,080 (20) (86) – (667) 

gadacema (83) (283) (694) (673) (546) – (2,279) 



(100) (124) (107) (36) (30) – (397) 

gadafaseba (345) – – – – – (345) 

31 dekemberi 2011 1,746 43,476 28,913 6,464 3,230 – 83,829 

wminda sabalanso 

Rirebuleba: 

31 dekemberi 2010 146,665 68,105 20,164 3,140 5,012 42,766 285,852 

31 dekemberi 2011 228,934 64,071 27,640 2,048 4,723 20,694 348,110 

62




(aTas larSi) 

14. ZiriTadi saSualebebi (gagrZeleba) 

ZiriTadi saSualebebis dinamika 2010 wlis 31 dekembers dasrulebuli wlis ganmavlobaSi 

Semdegia: 

ijariT 

kompiute- 

aRebuli 

aveji da rebi da 

qonebis 

miwa da mowyobi- saofise avtomogaumjobe- samSeneblo 

nagebobebi lobebi teqnika bilebisebebi aqtivebi jami 


31 dekemberi, 2009 w. 137,705 90,082 34,753 7,622 7,870 55,719 333,751 



3,171 258 4,628 269 – 370 8,696 

mateba 805 11,250 2,824 585 830 20,140 36,434 

kleba (2,224) (3,843) (643) (607) (2,315) (11,762) (21,394) 

transferebi 21,929 (17) (19) 196 994 (23,083) – 


sakuTrebaSi 

(3,714) – – – – (267) (3,981) 

gadafaseba (9,365) – – – – – (9,365) 


koreqtireba 

2,209 2,829 640 276 151 1,649 7,754 

31 dekemberi 2010 150,516 100,559 42,183 8,341 7,530 42,766 351,895 


31 dekemberi 2009 3,435 262 200 14 – – 3,911 

gaufasurebis xarji 435 – – – – – 435 

kleba (1,648) – (82) – – – (1,730) 

31 dekemberi 2010 2,222 262 118 14 – – 2,616 

akumulirebuli cveTa 

31 dekemberi 2009 4,463 23,870 16,173 3,680 2,925 – 51,111 

cveTis xarji 3,891 11,510 6,048 1,715 1,346 – 24,510 

sakurso sxvaoba 103 31 6 19 – – 159 

kleba (322) (3,219) (326) (227) (1,753) – (5,847) 

gadafaseba (6,506) – – – – – (6,506) 

31 dekemberi 2010 1,629 32,192 21,901 5,187 2,518 – 63,427 


Rirebuleba:: 

31 dekemberi 2009 129,807 65,950 18,380 3,928 4,945 55,719 278,729 

31 dekemberi 2010 146,665 68,105 20,164 3,140 5,012 42,766 285,852 

63




(aTas larSi) 

ZiriTadi saSualebebis dinamika 2009 wlis 31 dekembers dasrulebuli wlis ganmavlobaSi 

Semdegia: 

ijariT 

kompiute- 

aRebuli 

aveji da rebi da 

qonebis 

miwa da mowyobi- saofise avtomogaumjobe- samSeneblo 

nagebobebi lobebi teqnika bilebisebebi aqtivebi jami 


31 dekemberi 2008 147,030 76,603 36,500 7,825 8,466 58,550 334,974 



– 22 – 33 – – 55 

mateba 2,025 12,813 1,609 821 593 5,566 23,427 

kleba (4,638) (350) (3,426) (1,084) (1,896) (173) (11,567) 

transferebi 588 503 222 49 653 (2,015) – 


sakuTrebaSi 

– – – – – (6,387) (6,387) 

savaluto koreqtireba (3,205) – – – – – (3,205) 


sakuTrebaSi 

(4,095) 491 (152) (22) 54 178 (3,546) 

31 dekemberi 2009 137,705 90,082 34,753 7,622 7,870 55,719 333,751 


31 dekemberi 2008 625 1 84 1 – – 711 

cveTis xarji 2,810 261 116 13 – – 3,200 

31 dekemberi 2009 3,435 262 200 14 – – 3,911 


31 dekemberi 2008 1,049 14,168 11,867 2,593 2,802 – 32,479 

cveTis xarji 3,380 10,257 5,579 1,681 1,619 – 22,516 

sakurso sxvaoba 280 26 20 15 4 – 345 

kleba – (163) (811) (392) (1,500) – (2,866) 

gadafaseba (246) (418) (482) (217) – – (1,363) 

31 dekemberi 2009 4,463 23,870 16,173 3,680 2,925 – 51,111 


Rirebuleba:: 

31 dekemberi 2008 145,356 62,434 24,549 5,231 5,664 58,550 301,784 

31 dekemberi 2009 129,807 65,950 18,380 3,928 4,945 55,719 278,729 

jgufma daiqirava akreditebuli damoukidebeli Semfasebeli, raTa ganesazRvra misi 

Senoba-nagebobebis samarTliani Rirebuleba. samarTliani Rirebuleba gansazRvrulia 

Sesabamisi sabazro pirobebis miTiTebiT. saboloo gadafasebis angariSis mixedviT, 

gadafasebis ukanaskneli TariRi iyo 2010 wlis 31 dekemberi. Tu Senobebi Sefasdeboda 

fasdadebis modelis gamoyenebiT, 2011, 2010 wlis da 2009 wlis 31 dekembris mdgomareobiT, 

Senobebis sabalanso Rirebulebebi iqneboda: 

2011 2010 2009 

Rirebuleba 164,151 79,800 60,797 

akumulirebuli cveTa da amortizacia (8,012) (7,550) (10,487) 

wminda sabalanso Rirebuleba 156,139 72,250 50,310 

64




(aTas larSi) 

15. aramaterialuri aqtivebi 

gudvilisa da aramaterialuri aqtivebis dinamika 2011 wlis 31 dekembers dasrulebuli 

wlis ganmavlobaSi iyo Semdegi: 

ZiriTadi programul 

sadepozito i 

aramateriuzrunvelaluriyofa da 

gudvili aqtivebi licenzia jami gudvili 

Rirebuleba 

31 dekemberi 2010 142,284 2,530 30,736 33,266 175,550 

Sesyidva biznesis gaerTianebiT 

(SeniSvna 5) 

377 – – – 377 

mateba – – 6,443 6,443 6,443 

kleba – – (288) (288) (288) 

Svilobili kompaniebis saSualebiT 

gayidvis gziT 

(68,016) (1,688) (982) (2,670) (70,686) 

hiperinflaciis efeqti – – 197 197 197 

sakurso sxvaobebi – – (1,468) (1,468) (1,468) 

31 dekemberi 2011 74,645 842 34,638 35,480 110,125 

akumulirebuli amortizacia da 

gaufasureba 

31 dekemberi 2010 73,072 – 10,876 10,876 83,948 

amortizaciis xarji – – 3,661 3,661 3,661 

gaufasurebis xarji 23,394 – – – 23,394 

kleba – – (61) (61) (61) 

Svilobili kompaniebis saSualebiT (68,016) – (233) (233) (68,249) 

hiperinflaciis efeqti – – 84 84 84 

sakurso sxvaobebi – – (69) (69) (69) 

31 dekemberi 2011 28,450 – 14,258 14258 42,708 

wminda sabalanso Rirebuleba: 

31 dekemberi 2010 69,212 2,530 19,860 22,390 91,602 

31 dekemberi 2011 46,195 842 20,380 21,222 67,417 

65




(aTas larSi) 

15. aramaterialuri aqtivebi (gagrZeleba) 

gudvilis gaufasurebis xarji 2011 wels moicavs: ss `beloruski narodni bank”- 23,394. 

lari. yvela am instanciaSi, gaufasurebis mTavari mizezi iyo arasakmarisi momavali 

saoperacio fuladi saxsrebis nakadebi, romelTa miReba mosalodneli iyo fuladi 

saxsrebis nakadebis gamommuSavebeli ganyofilebebis prognozebis Sesabamisad. 

gudvilisa da aramaterialuri aqtivebis dinamika 2010 wlis 31 dekembers dasrulebuli 


gudvili 

ZiriTadi 

sadepozito 

aramaterialuri 

aqtivebi 

programuli 

uzrunvelyofa 

da 

licenzia jami gudvili 

Rirebuleba 

31 dekemberi, 2009 w. 138,849 2,530 24,681 27,211 166,060 


(SeniSvna 5) 

3,435 – 8 8 3,443 

mateba – – 5,405 5,405 5,405 

kleba – – (296) (296) (296) 

sakurso sxvaoba – – 938 938 938 

31 dekemberi 2010 w. 142,284 2,530 30,736 33,266 175,550 


gaufasureba 

31 dekemberi 2009 w. 73,072 – 7,546 7,546 80,618 

amortizaciis xarji – – 3,453 3,453 3,453 

kleba – – (117) (117) (117) 

sakurso sxvaobebi – – (6) (6) (6) 

31 dekemberi 2010 w 73,072 – 10,876 10,876 83,948 


31 dekemberi 2009 w. 65,777 2,530 17,135 19,665 85,442 

31 dekemberi 2010 w. 69,212 2,530 19,860 22,390 91,602 

gudvilisa da aramaterialuri aqtivebis dinamika 2009 wlis 31 dekembers dasrulebuli 


ZiriTadi 

sadepozito programuli 

aramateriuzrunvelaluriyofa da 

gudvili aqtivebi licenzia jami gudvili 

Rirebuleba 

31 dekemberi, 2008 134,238 2,499 20,791 23,290 157,528 


(SeniSvna 5) 

5,015 – – – 5,015 

mateba – 33 4,468 4,501 4,501 

kleba (411) – (577) (577) (988) 

sakurso sxvaoba 7 (2) (1) (3) 4 

31 dekemberi, 2009 138,849 2,530 24,681 27,211 166,060 


gaufasureba 

31 dekemberi, 2008 – – 5,069 5,069 5,069 

amortizaciis xarjebi – – 2,912 2,912 2,912 

gaufasurebis xarji 73,072 – – – 73,072 

kleba – – (404) (404) (404) 

sakurso sxvaoba – – (31) (31) (31) 

66




(aTas larSi) 

31 dekemberi, 2009 73,072 – 7,546 7,546 80,618 


31 dekemberi 2008 w. 134,238 2,499 15,722 18,221 152,459 

31 dekemberi 2009 w. 65,777 2,530 17,135 19,665 85,442 

gudvilis gaufasurebis xarji 2009 wels moicavs: ss `biji banki”- 68,016 lari, sibi 

iberia”- 3,907 lari, ss `saqarTvelos fasiani qaRaldebis gaerTianebuli registratura” - 

366 lari da ss ìnterturi” - 39 lari. yvela am instanciaSi, gaufasurebis mTavari 

mizezi iyo arasakmarisi momavali saoperacio fuladi saxsrebis nakadebi, romelTa 

miReba mosalodneli iyo fuladi saxsrebis nakadebis gamommuSavebeli ganyofilebebis 

prognozebis Sesabamisad. 

2011 wlis 31 dekemberis mdgomareobiT, biznesis gaerTianebisas SeZenili gudvili 

ganawilda fuladi saxsrebis gamommuSavebel Semdeg erTeulebze gaufasurebis 

Semowmebis miznebisaTvis: 

• ss `saqarTvelos banki~ 

• ss `beloruski narodni banki~ 

• ss `sadazRvevo kompania aldagi – bi-si-ai~ 

• ss Cemi ojaxis klinika 

• ss ìnterturi~ 

• ss `planeta forte» 

fuladi saxsrebis gamommuSavebeli TiToeuli erTeulis aRdgenadi Rirebuleba 

ganisazRvra gamoyenebiTi Rirebulebis gaangariSebiT, fuladi saxsrebis dagegmvis 

saSualebiT, damtkicebuli biujetis safuZvelze, im varaudiT, rom biznesi ar 

ganviTardeba da fuladi saxsrebi ucvleli darCeba. fuladi saxsrebis dagegmvisaTvis 

gamoyenebuli diskontirebis ganakveTi warmoadgens fuladi saxsrebis gamommuSavebeli 

TiToeuli konkretuli erTeulis kapitalis saSualo Sewonil Rirebulebas (“WACC”). 

gudvilis sabalanso Rirebuleba (amortizaciis gareSe), romelic nawildeba fuladi 

saxsrebis gamommuSavebel TiToeul erTeulze, Semdegia: 

efeqturi 

wliuri zrdis 

ganakveTi 

samwlian 

finansur 

biujetSi 

WACC gamoyeneba 

gaufasurebisaTvis 

2011 2010 2009 

gudvilis sabalanso 

Rirebuleba 

2011 2010 2009 

ss `saqarTvelos banki~ 31% 8.50% 8.82% 8.70% 22,398 22,398 22,398 

ss `sadazRvevo kompania 

aldagi – bi-si-ai~ 

20% 

13.30% 12.61% 17.20% 18,742 18,742 18,742 

ss `Teliani veli” 37% 15.70% 14.56% N/A 3,292 3,292 – 

ss ìnterturi~ 20% 14.96% 14.96% 14.08% 659 659 659 

sadazRvevo kompania 

partniori, Sps 

20% 

13.30% – – 377 – – 

Sps `planet forte” 20% 2.78% 2.78% 17.20% 364 364 364 

ss `Cemi ojaxis klinika~ 20% 13.30% 12.61% 17.20% 220 220 220 

Sps `Teliani Treiding” 

(ukraina) 

37% 

15.70% 14.56% N/A 143 143 – 

ss `beloruski narodni 

banki~ 

20% 

13.70% 8.51% 16.26% – 23,394 23,394 

jami 46,195 69,212 65,777 

67




(aTas larSi) 


samwliani efeqturi zrdis tempi, romelic miTiTebulia zemoT cxrilSi, warmoadgens 

efeqtur saSualo wliur zris temps, romelic CarTulia Sesabamisi organizaciis 

samwlian finansur biujetSi, romelic daamtkica misma xelmZRvanelobam, da gaTvlilia 

individualurad TviToeuli Sesabamisi organizaciisTvis. mesame wlis saoperacio 

fuladi saxsrebis nakadi aRebulia rogorc mudmivi da nulovani zrdis-tempis 

gamoyenebuli iyo mesame wlis Semdeg. 

gudvilis moculoba, romelic warmoiqmna ss ìnteleqt bankidan” da ss `Tbiluniversal 

bankis” SeZena ganawilda ss `saqarTvelos bankTan” mimarTebaSi, ZiriTadad im faqtis 

gamo, rom ss saqarTvelos bankma gamoiyena aRniSnuli finansuri institutebis aqtivebi 

da valdebulebebi. 

gudvilis da sxva aramaterialuri aqtivebis gaufasurebis testireba 

biznesis gaerTianebisas SeZenili ganusazRvreli sasargeblo momsaxurebis 

xangrZlivobis mqone gudvili ganawilda fuladi saxsrebis gamommuSavebel or 

individualur erTeulze, romlebic aseve saangariSgebo segmentebs warmoadgenen, 

gaufasurebis Semowmebis mizniT: korporaciuli sabanko saqme da sacalo sabanko saqme. 

fuladi saxsrebis gamommuSavebel TiToeul erTeulze ganawilebuli gudvilis 

sabalanso Rirebuleba Semdegia: 

2011 2010 2009 

dazRveva da jandacva 19,339 18,962 18,962 

sacalo sabanko saqme 12,433 12,433 14,708 

korporaciuli sabanko saqme 9,965 9,965 7,690 

liberTi qonsiumer 4,458 4,458 1,023 

BNB & BGB – 23,394 23,394 

sul 46,195 69,212 65,777 

gamoyenebiTi Rirebulebis gaangariSebisas gamoyenebuli ZiriTadi daSvebebi 

aqtivebis marTvis erTeulis aRdgenadi Rirebuleba ganisazRvra gamoyenebiT 

Rirebulebaze dayrdnobiT, fuladi saxsrebis moZraobis dagegmvis safuZvelze, zeda 

rgolis xelmZRvanelobis mier damtkicebuli finansuri biujetebis mixedviT, romlebic 

moicavda sam wlian periods. fuladi saxsrebis moZraobis dagegmvisas gamoyenebuli 

fasdaklebis ganakveTi sam wliani periodis zeviT, eqstrapolirebulia dagegmili zrdis 

ganakveTis gamoyenebiT. 

korporaciuli sabanko saqmisa da sacalo sabanko saqmisaTvis, bankis mier gamoyenebulia 

Semdegi ganakveTebi 

korporaciuli sabanko 

saqme 

sacalo sabanko saqme 

2011, % 2010, % 2009, % 2011, % 2010, % 2009, % 

diskontirebis ganakveT 8.5% 8.9% 9.1% 8.5% 8.9% 8.8% 

dazRvevis, aqtivebis da qonebis marTvis, da sabrokero saqmisaTvis, bankis mier 

gamoyenebulia Semdegi ganakveTebi: 

dazrveva da jandacva liberTi qonsiumer 

2011, % 2010, % 2009, % 2011, % 2010, % 2009, % 

diskontirebis ganakveTi 13.3% 12.6% 17.2% 14.5% 14.5% 16.45% 

BNB & BGB-is mimarT bankis mier gamoyenebuli ganakveTi: 

BNB & BGB 

2011, % 2010, % 2009, % 

diskontirebis ganakveTi 8.5% 8.9% 9.0% 

68




(aTas larSi) 


aqtivebis marTvisa da sacalo sabanko saqmisaTvis gamoyenebiTi Rirebulebis gamoTvla 

yvelaze metad mgrZnobiarea saprocento zRvrebisa da diskontirebis ganakveTebTan 

dakavSirebuli varaudebis mimarT: 

diskontirebis ganakveTebi 

diskontirebis ganakveTebi asaxavs xelmZRvanelobis daSvebebs TiToeuli 

saqmianobisaTvis saWiro kapitalis brunvasTan dakavSirebiT (ROCE). aRniSnuli 

warmoadgens xelmZRvanelobis mier gamoyenebul benCmarkings saoperacio saqmianobis da 

samomavlo investirebis winadadebebis Sefasebis mizniT. diskontirebis ganakveTebis 

gaangariSeba xdeba WACC-s gamoyenebiT 

69




(aTas larSi) 

16. gadasaxadebi 

korporaciuli mogebis gadasaxadis xarji moicavs: 

2011 2010 2009 

mimdinare mogebis gadasaxadis xarjs 4,985 (12,365) (1,872) 

gadavadebul sagadasaxado xarji (sargebeli) 

(2,923) (3,411) 8,870 

mogebis gadasaxadis (sargebeli) xarji 2,062 (15,776) 6,998 

gagrZelebul operaciebs mikuTvnebuli saSemosavlo 

gadasaxdis (danaxarjis) sargebeli 

Sewyvetil operaciebs mikuTvnebuli saSemosavlo gadasaxdis 

sargebeli (SeniSvna 29) 

sxva srul (danakargSi) SemosavalSi gagrZelebuli 

operaciebisgan momavalSi Semosavalze gadasaxadis 

sargebeli (danaxarji) 

sxva srul (danakargSi) SemosavalSi Sewyvetili 

operaciebisgan momavalSi Semosavalze gadasaxadis 

sargebeli (danaxarji) (SeniSvna 29) 

sul Semosavalze gadasaxadis sargebeli (danaxarji) 

aRiarebuli sxva srul SemosavalSi 

(21,125) (15,776) 6,998 

23,187 – – 

5,581 206 (704) 

625 – – 

6,206 206 (704) 

2011, 2010 da 2009 wlebSi srul SemosavalSi kreditirebuli an mikuTvnebul punqtebTan 

dakavSirebul Semosavlaze gadavadebuli gadasaxadia: 

2011 2010 2009 

sakurso sxvaobebi 6,175 – – 

sufTa (zarali) mogeba gasayidad arsebul sainvesticio 

fasian qaRaldebze 

124 146 (620) 

Senobebis gadafaseba (93) (58) 124 

sxva – 118 (208) 

mogebis gadasaxadis (xarji) SeRavaTi sxva srul 

SemosavalSi 

6,206 206 (704) 

jgufis Semosavlis umetesi nawilis mogebis gadasaxadis ganakveTi aris ganakveTi, 

romelic gamoiyeneba Svilobili kompaniebis SemosavlisaTvis 15%-dan 23%-mde (2010: 15%-dan 

26%-mde, 2009: 15%-dan 26%-mde,). mosalodnel da mimdinare dabegvras Soris Sedareba 

mocemulia qvemoT. 

70




(aTas larSi) 

16. gadasaxadebi (gagrZeleba) 

efeqturi mogebis gadasaxadis ganakveTi gansxvavdeba kanonmdeblobiT gansazRvruli 

mogebis gadasaxadis ganakveTebisagan. 2011, 2010 da 2009 wlis 31 dekembris mdgomareobiT 

efeqturi da kanonmdeblobiT gansazRvruli sagadasaxado ganakveTebis Sedareba 

Semdegia: 

2011 2010 2009 

gagrZelebuli operaciebidan saSemosavlo gadasaxadis 

SeRavaTamde (danaxarjamde) mogeba (zarali) 

172,054 98,443 (105,906) 

gagrZelebuli operaciebidan saSemosavlo gadasaxadis 

SeRavaTamde wminda zarali (SeniSvna 29) 

(38,406) – – 

zarali mogebis sagadasaxado SeRavaTamde 133,648 98,443 (105,906) 

kanoniT dadgenili sagadasaxado ganakveTi 15% 15% 15% 

Teoriuli mogebis gadasaxadis (sargebeli) xarji kanoniT dadgenili 

sagadasaxado ganakveTiT (20,047) (14,766) 15,886 

gadasaxadi adgilobrivi ganakveTebiT Sesabamis qveyanaSi SemosavlebTan 

dakavSirebiT 

(2,050) (291) 3,614 

wina wlebis deklaraciebis Sesworeba 8,408 – – 

Svilobili kompaniis gayidvis Sedegad zarali * 18,593 – – 

sxva saoperacio Semosavali – 229 408 

saxelmwifo fasiani qaRaldebi ufro dabali 

sagadasaxado ganakveTebiT 

aragamoqviTvadi xarjebi:: 

– 564 677 

–gudvilis gaufasurebal (3,509) – (10,308) 

– wilze dafuZnebuli sakompensacio xarjebi – (1,325) (717) 

– mivlinebebi – (288) – 

– gasarTobi RonisZiebebi – (71) – 

– qvelmoqmedeba – (10) – 

– gaufasurebis sxva danakargebi – – (2,460) 

– sxva 667 182 (102) 

mogebis gadasaxadis (SeRavaTi) xarji 2,062 (15,776) 6,998 

gagrZelebuli operaciebisTvis mikuTvnebuli saSemosavlo 

gadasaxadis (danaxarjis) SeRavaTi 

(21,125) (15,776) 6,998 

Sewyvetili operaciebisTvis mikuTvnebuli saSemosavlo 

gadasaxadis (danaxarjis) SeRavaTi (SeniSvna 29) 

23,187 – – 

saSemosavlo gadasaxadis SeRavaTi (xarji) 2,062 (15,776) 6,998 

* es aris kss bank perSias (adre cnobili rogorc ss biji banki) gayidvis Sedegad 2011 wlis sagadasaxado 

deklaraciaSi aRiarebuli danakargi.. 

wina wlebis deklaraciebis Sesworeba srulad miekuTvneba saqarTvelos da is moicavs 

3,315 lars wina wlebis korporatiuli saSemosavlo gadasaxadis SeRavaTs, romelic 

aRiarebulia 2011 wels, dasaqviT mogebamde wilze dafuZnebuli kompensaciis danaxarjis 

daqviTvas daqvemdebarebis Tanamedrove midgoma saqarTvelos sagadasaxado organoebisgan 

miRebuli axali sagadasaxado reJimis safuZvelze. 

amJamad, saqarTveloSi, ukrainasa da belorusSi moqmedi gadasaxadebi moicavs mogebis 

gadasaxads, fizikuri pirebis mogebis gadasaxads, qonebis gadasaxads da damatebiTi 

Rirebulebis gadasaxads, Tumca, debulebebi xSirad gaurkvevelia an ar arsebobs, 

gamocdilebac mcirea. es qmnis sagadasaxado riskebs saqarTveloSi, ukrainasa da 

belorusSi umeteswilad ufro mniSvnelovans, vidre sxva ganviTarebuli sagadasaxado 

sistemebis mqone qveynebSi. xelmZRvanelobas miaCnia, rom jgufi ZiriTadad 

SesabamisobaSia mis operaciebTan dakavSirebul sagadasaxado kanonmdeblobasTan. Tumca, 

riski imisa, rom Sesabamis organoebs SesaZloa gansxvavebuli pozicia hqondeT kanonebis 

interpretaciasTan mimarTebaSi, kvlav arsebobs. 

71




(aTas larSi) 

2011 wlis 31 dekemberis, 2010wlis 31 dekembris da 2009 wlis 31 dekembris mdgomareobiT, 

sagadasaxado aqtivebi da valdebulebebi moicavs: 

16. gadasaxadebi (gagrZeleba) 

2011 2010 2009 

mimdinare sagadasaxado aqtivebi 8,487 2,247 7,997 

gadavadebuli sagadasaxado aqtivebi 14,852 18,178 15,487 

sagadasaxado aqtivebi 23,339 20,425 23,484 

mimdinare sagadasaxado valdebulebebi 1,174 4,251 574 

gadavadebuli sagadasaxado valdebulebebi 36,242 30,901 24,661 

sagadasaxado valdebulebebi 37,416 35,152 25,235 

72




(aTas larSi) 

73




(aTas larSi) 

31 dekembris mdgomareobiT, gadavadebuli sagadasaxado aqtivebi da valdebulebebi da 

maTi dinamika Sesabamis wlebSi Semdegia: 

Origination and 

droebiTi 

droebiTi 

droebiTi 

sxvaobebis 

sxvaobebis 

sxvaobebis 

warmoSoba da 

warmoSoba da 

warmoSoba da 

Sebruneba 

Sebruneba 

Sebruneba 

sxva 

biznesi 

s 

sxva biznesis 

sxva biznesis Svilobi 

mogeba- mTlian gaerTi 

mogeba- mTlian gaerTimogeba- 

mTlian gaerTi- li 

zaralisSemosa- -anebis zaralisSemosaanebiszaralisSemosaanebis kompaniis 

2008 uwyisS valSi efeqti 2009 uwyisS valSi efeqti 2010 uwyisS valSi efeqti gadacema 2011 

gamoqviTvadi droebiTi 

sxvaobebis sagadasaxado 

efeqti: 

valdebulebebi sakredito 

dawesebulebebis winaSe 

sainvesticio fasiani 

– – – – – – – – – 1,264 – – – 1,264 

qaRaldebi: gasayidad 

arsebuli 

1,826 (295) (620) – 911 20 279 – 1,210 (988) 522 – (7) 737 

klientebze gacemuli 

sesxebi 

470 9,659 – – 10,129 440 – – 10,569 (345) (36) – (10,188) – 

uimedo valdebis rezervi – – – – – – – – – 18 (9) – – 9 

klientebisTvis 

gadasaxdeli Tanxebi 

sxva sadazRvevo 

– – – – – – – – – 26 (13) – – 13 

valdebulebebi da 

sapensio fondis 

valdebulebebi 

– – – – – – – – – 275 176 – – 451 

sainvesticio qoneba – – – 1,604 1,604 349 – – 1,953 (12) (1,604) – (337) – 

gadazRvevis aqtivebi 243 129 – – 372 (117) – – 255 – (27) – – 228 

moTxovnebi gadazRvevis 

premiebidan 

2,073 (376) – – 1,697 – – – 1,697 – – – – 1,697 

gaufasurebis da sxva 

danakargebis rezervebi 

465 732 – – 1,197 867 – – 2,064 – (722) – – 1,342 

wina periodze gadatanili 

sagadasaxado danakargebi 

18,002 1,516 (26) – 19,492 (15,020) – – 4,472 3,714 5,181 – (1,035) 12,332 

moTxovnebi finansuri 

ijaridan 

284 35 – – 319 – – – 319 23 (35) – – 307 

aramaterialuri aqtivebi 239 25 – – 264 24 – – 288 28 (135) – – 181 

ZiriTadi saSualebebi 1,783 149 289 – 2,221 (20) 290 78 2,569 (33) (358) – – 2,178 

sxva aqtivebi 463 359 – – 822 147 34 – 1,003 81 (103) – (13) 968 

sxva valdebulebebi 735 1,190 – – 1,925 (698) – – 1,227 604 (83) – (218) 1,530 

jamuri gadavadebuli 

sagadasaxado aqtivebi 

26,583 13,123 (357) 1,604 40,953 (14,008) 603 78 27,626 4,655 2,754 – (11,798) 23,237 

uRiarebeli gadavadebuli 


– – (131) – (131) 131 – – – – – – – – 

gadavadebuli sagadasaxado 

aqtivebi 

26,583 13,123 (488) 1,604 40,822 (13,877) 603 78 27,626 4655 2754 – (11,798) 23,237 

dasabegri droebiTi 

sxvaobebis sagadasaxado 

efeqti: 

fasiani qaRaldebis 

samarTliani 

Rirebulebis gazomva 

– – – – – 203 – – 203 – (203) – – – 



2,051 (317) – – 1,734 39 – – 1,773 (8) – – (31) 1,734 

valdebulebebi meanabreTa 

winaSe 

508 – – – 508 1,078 (119) – 1,467 (7) (8) – (942) 510 

gasayidad arsebuli fasiani 

qaRaldebi 

182 – – – 182 249 133 – 564 (1,157) 593 – – – 

klientebze gacemuli 

sesxebi 

7,103 13,776 – – 20,879 (10,314) – – 10,565 (1,452) (91) – – 9,022 

uimedo valdebis rezervi – – – – – – – – – 622 (307) – – 315 

gadazRvevis aqtivebi 27 – – – 27 13 – – 40 – (27) – – 13 


ijaridan 

– – – – – – – – – 9 (4) – – 5 

gaufasurebis da sxva 

danakargebis rezervebi 

sxva sadazRvevo 

1,223 (1,223) – – – 770 – – 770 (13) (602) – – 155 

valdebulebebi da 

sapensio fondis 

valdebulebebi 

– – – – – 7 – – 7 218 179 – – 404 

ZiriTadi saSualebebi 28,480 (6,194) 165 – 22,451 (3,756) 348 379 19,422 6,474 (957) 1,167 57 26,163 

sainvesticio qoneba 2,861 (2,313) – – 548 20 – – 568 1,697 (1,650) – – 615 

aramaterialuri aqtivebi 2,297 87 28 – 2,412 1,364 – – 3,776 814 (175) – (99) 4,316 

sxva aqtivebi 341 399 23 20 783 (677) 35 – 141 1,163 (256) – – 1,048 

sxva valdebulebebi 434 38 – – 472 538 – 43 1,053 (782) 56 – – 327 

gadavadebuli sagadasaxado 

valdebulebebi 

45,507 4,253 216 20 49,996 (10,466) 397 422 40,349 7,578 (3,452) 1,167 (1,015) 44,627 

74




(aTas larSi) 

wminda gadavadebuli 


(valdebulebebi 

(18,924) 8,870 (704) 1,584 (9,174) (3,411) 206 (344) (12,723) (2,923) 6,206 (1,167) (10,783) (21,390) 

17. sxva gaufasurebis da pirobiT valdebulebebze Seqmnili rezervebi 

mokavSire 

gaufasurebis 

sawarmoebSi 

rezervi gasayidad garantiebisa da 

investiciebis sxva aqtivebis arsebuli pirobiTi 

gaufasurebis gaufasurebis sainvesticio valdebulebebi 

rezervi rezervi fasiani qaRaldebi rezervi jami 

31 dekemberi 2008 274 549 – 4,263 5,086 

daricxva/(Sebruneba) 2,237 5,513 818 (2,137) 6,431 

Camowera – (342) – – (342) 

31 dekemberi 2009 2,511 5,720 818 2,126 11,175 

daricxva/(Sebruneba) 1,495 (2,130) 1,941 2,281 3,587 

Camowera (1,768) (345) (777) – (2,890) 

aRdgena – 64 – – 64 

31 dekemberi 2010 2,238 3,309 1,982 4,407 11,936 

daricxva/(Sebruneba) 

Sewyvtili 

operaciebidan 

– 2,684 – (4,021) (1,337) 

debitoruli 

davalianebis 

gaufasureba 

(SenioSvna 29) 

– 3,730 – – 3,730 

Camowera (1,730) (2,086) (1,982) – (5,798) 

sakurso sxvaoba – (135) – – (135) 

31 dekemberi 2011 508 7,502 – 386 8,396 

Sewyvetili operaciebidan aqtivebis gaufasurebis rezervi warmoadgens ss biji bankis 

(yofili kss banki perSia) 80% wilis gayidvidan darCenuli debitoruli davalianeba 

daqviTulia dakavSirebuli aqtivebis sabalanso Rirebulebidan. 

18. sxva aqtivebi da sxva valdebulbebi 

sxva aqtivebi moicavs: 

2011 2010 2009 

warmoebuli finansuri aqtivebi 36,823 2,933 1,129 

inventari 27,903 9,828 1,212 

debitoruli davalianeba 24,126 17,093 4,026 

misaRebi sadazRvevo premiebi 24,052 21,413 20,619 

gadazRvevis aqtivebi 8,859 7,307 4,920 

moTxovnebi fuladi gadaricxvebidan 4,937 3,358 2,508 

misaRebi saoperacio gadasaxadebi 4,683 1,793 1,296 

fasiani qaRaldebiT operaciebze angariSsworeba 1,972 5,182 3,027 

finansuri ijaris mizniT Sesyiduli aqtivebi 1,877 1,434 2,316 

mflobelobaSi arsebuli savaWro fasiani qaRaldebi 1,115 1,218 2,268 

dokumenturi operaciebidan misaRebi Tanxebi 1,026 1,338 4,338 

aqtivebis gayidvidan misaRebi Tanxebi 663 797 1,420 

winaswari gadaxdebi ZiriTadi saSualebebis SesyidvisTvis 309 266 426 

gamosyidvis gareSe dagiravebuli aqtivebi 169 1,049 946 

winaswari gadaxdebi ZiriTadi saSualebebis SesyidvisTvis – 959 344 

gasayidad arsebuli aqtivebi – 314 – 

sxva 6,556 2,447 3,205 

145,070 78,729 54,000 

75




(aTas larSi) 

gamoklebuli – sxva aqtivebis gaufasurebis rezervi 

(SeniSvna 17) 

(7,502) (3,309) (5,720) 

sxva aqtivebi 137,568 75,420 48,280 

sxva valdebulebebi moicavs: 

2011 2010 2009 

TanamSromelTa kompensaciis daricxva 40,825 25,111 21,860 

valdebulebebi kreditorTa winaSe 35,025 2,617 6,269 

sadazRvvevo kontraqtis valdebulbebi 35,009 32,695 30,304 

warmoebuli finansuri valdebulebebi 15,856 17,525 7,460 

daricxvebi da gadavadebuli Semosavali 8,915 3,268 35 

sxva sadazRvevo valdebulebebi 8,534 4,431 6,152 

sapensio valdebulebebi 6,353 4,949 3,856 

sxva gadasaxdeli gadasaxadebi 2,777 2,418 2,862 

kreditorebi 1,751 8,412 4,226 

gadasaxdeli dividendebi 359 303 314 

aqciis SeZenebisTvis gadasaxdeli Tanxebi 1 259 254 

aramaterialuri aqtivebis SesyidvisTvis 

– 9 78 

gadasaxdeli Tanxebi 

sxva 3,057 4,790 2,236 

sxva valdebulebebi 158,462 106,787 85,906 

qvemoT warmodgenili cxrili gviCvenebs warmoebuli finansuri instrumentebis 

samarTlian Rirebulebas, romlebic registrirebulia rogorc aqtivebi an 

valdebulebebi, maT erovnul valutaSi gamosaxul TanxebTan erTad. erovnul valutaSi 

gamosaxuli Tanxa, romelic registrirebulia rogorc mTliani, aris warmoebuli 

aqtivi, orientiri ganakveTi an indeqsi da aris is safuZveli, romelis mixedviTac 

fasdeba warmoebulebis Rirebulebis cvlilebebi. erovnul valutaSi gamosaxuli 

Tanxebi asaxavs wlis bolos Seusrulebeli transaqciebis moculobas da ara sakredito 

risks. 

Tanxa 

samarTliani 

Rirebulebebi 

erovnuli 

valutaSi aqtivi 

valdebuleba 

procentis ganakveTis kontraqtebi 

forvardebi da svopebi – ucxouri 263,309 – 9,542 

ucxouri valutis kontraqtebi 

forvardebi da svopebi – adgilobrivi 97,781 275 196 

ofcionebi – ucxouri 255,348 35,850 5,791 

kapitali/ saqonlis kontraqtebi 

gamyidvelis ofcioni – ucxouri 5,010 698 – 

CarTuli warmoebulebi sainvesticio depozitebidan – – 327 

sul warmoebuli aqtivebi/valdebulebebi 621,448 36,823 15,856 


2010 2009 

samarTliani 

samarTliani 

Tanxa Rirebulebebi Tanxa Rirebulebebi 

erovnuli 


valdebuleba 

erovnuli 


valdebuleba 

procentis ganakveTis kontraqtebi 

forvardebi da svopebi – ucxouri 338,369 – 14,527 332,108 – 6,447 

76




(aTas larSi) 

ucxouri valutis kontraqtebi 

forvardebi da svopebi – adgilobrivi 66,058 777 597 24,410 – 288 

ofcionebi – ucxouri 54,121 1,815 2,211 1,096 82 – 

kapitali/ saqonlis kontraqtebi 

gamyidvelis ofcioni – ucxouri 3,014 341 – 8,429 1,047 – 

CarTuli warmoebulebi sainvesticio 

depozitebidan 

– – 190 – – 725 

sul warmoebuli aqtivebi/valdebulebebi 461,562 2,933 17,525 366,043 1,129 7,460 

77




(aTas larSi) 

19. valdebulebebi sakredito dawesebulebebis winaSe 

valdebulebebi sakredito dawesebulebebis winaSe moicavs: 

2011 2010 2009 

sesxebi saerTaSoriso sakredito 

dawesebulebebisagan 

863,004 1,003,926 913,579 

vadiani depozitebi da bankTaSoris sesxebi 42,837 130,284 12,761 

sul 905,841 1,134,210 926,340 

sakorespondento angariSebi 15,331 4,717 2,275 

valdebulebebi sakredito dawesebulebebis winaSe 921,172 1,138,927 928,615 

2011 wlis ganmavlobaSi, jgufma miiRo moklevadiani dafinanseba saqarTveloSi moqmedi bankebisgan, 

sxvadasxva valutaSi. 2011 wlis 31 dekembris mdgomareobiT, jgufs saqarTveloSi moqmedi ucxouri 

bankebisgan depozitebis saxiT miRebuli hqonda 2,548 laris ekvivalenti (2010: 13,030 lari, 2009: 1,566 

lari) ucxour valutaSi. 2011 wels, jgufma gadaixada 4.0%-mde saprocento ganakveTi am depozitebze 

(2010: 4.0%, 2009: 0.2%) 

sesxebi saerTaSoriso sakredito dawesebulebebisgan, vadiani depozitebi da bankTaSoris 

sesxebia: 


sesxis 

dasafari naSTi 

2011 wlis 31 

odenoba dekembris 

sakredito dawesebuleba gacemis sakontraqt 

Tavdapirvel mdgomareobiT 

TariRi o vada valuta valutaSi larSi (*) 

`bi-ji fainans~ B.V. 8-Teb-07 8-Teb -12 aSSd 55,507 95,954 

aziis ganviTarebis banki 

`meril linC inTerneSnl~**** 

1-dek-10 

17-agv-07 

1-dek -15 

17-agv -12 

aSSd 

aSSd 

50,000 

35,000 

83,101 

60,654 

evropis rekonstruqciisa da ganviTarebis banki 13-ian-09 15-ian -14 aSSd 50,000 59,939 

saerTaSoriso finansuri korporacia 

13-ian-09 15-ivl -13 aSSd 50,000 56,190 

samxreT-aRmosavleT evropis evropuli fondi 15-dek-10 15- ivn -18 aSSd 30,000 49,862 

holandiis ganviTarebis safinanso kompania ** 18-ivl-08 15-oqt-18 aSSd 30,000 49,690 

evropis rekonstruqciisa da ganviTarebis banki 

** saerTaSoriso finansuri korporacia ** 

13-ian -09 

13-ian -09 

15-ian -19 

15-ian -19 

aSSd 

aSSd 

26,044 

26,044 

41,912 

41,907 

saerTaSoriso finansuri korporacia ** 13-ian -09 15-ian -19 aSSd 23,956 40,832 


** sazRvargareTuli kerZo sainvesticio 


** samxreT-aRmosavleT evropis evropuli fondi 

13-ian -09 

23-dek -08 

12-noem -10 

15-dek -10 

15-ian -19 

20-dek -18 

5-dek -15 

15-ivn -18 

aSSd 

aSSd 

aSSd 

aSSd 

23,956 

29,000 

20,000 

20,000 

40,779 

37,319 

33,328 

33,243 

`semfer augustos~ B.V. ** 31-oqt -07 30-oqt-17 aSSd 15,000 25,565 

evropis rekonstruqciisa da ganviTarebis banki 8-dek -11 8- dek -16 lari 24,020 23,927 

sazRvargareTuli kerZo sainvesticio ** 23-dek -08 20- dek -18 aSSd 10,000 16,491 

holandiis ganviTarebis safinanso kompania 22-ian -07 15-mar-14 aSSd 12,500 9,200 

ss HSBC banki jorjia 30-dek -11 5-ian -12 lari 9,000 9,001 

saerTaSoriso finansuri korporacia 21-oqt -10 15-dek -14 aSSd 5,000 8,339 

ING banki N.V. 9-noem-11 1-ian -20 aSSd 11,906 6,961 

msoflio biznes kapitali 17-Teb-06 25-dek -15 aSSd 10,000 6,740 

baltikum bank AS 

12-dek -11 12-ian -12 evro 3,000 6,493 

evropis rekonstruqciisa da ganviTarebis banki 20-ivn-11 25-ivl-16 aSSd 20,000 6,334 

msoflio biznes kapitali 29-mai-07 25-mar-17 aSSd 3,130 5,228 

ss `prokredit banki” 29-dek -11 31-ian -12 lari 5,000 5,001 

naSTebi 5,000 aTas larze naklebi 

jami 

sxvadasxav sxvadasxav sxvadasxa 

v 

sxvadasxav 51,851 

905,841 

78




(aTas larSi) 

19. valdebulebebi sakredito dawesebulebebis winaSe (gagrZeleba) 

2010 wlis 31 dekembris mdgomareobiT: 

sakredito dawesebuleba gacemis 

TariRi 

sakontraqt 

o vada valuta 

sesxis 

odenoba 

Tavdapirvel 

valutaSi 


2010 wlis 31 

dekembris 

mdgomareobiT 

larSi (*) 

`bi-ji fainans~ B.V. 8-Teb-07 8-Teb-12 aSSd 200,000 270,880 


13-ian-09 15-ivl-13 aSSd 50,000 89,015 

evropis rekonstruqciisa da ganviTarebis banki 13-ian-09 15-ian-14 aSSd 50,000 88,258 

saqarTvelos erovnuli banki 30-dek-10 6-ian-11 lari 66,300 66,300 

`meril linC inTerneSnl~** 17-agv-07 17-agv-12 aSSd 35,000 62,476 

holandiis ganviTarebis safinanso kompania**** 18-ivl-08 15-oqt-18 

aSSd 

30,000 52,916 

sazRvargareTuli kerZo sainvesticio 23-dek-08 19-dek-18 aSSd 29,000 45,209 

aziis ganviTarebis banki 1-dek-10 1-ivn-16 aSSd 50,000 43,566 


saerTaSoriso 

** 

finansuri korporacia ** 

13-ian-09 

13-ian-09 

15-ian-19 

15-ian-19 

aSSd 

aSSd 

23,956 

23,956 

43,402 

43,396 

saerTaSoriso finansuri korporacia ** 13-ian-09 15-ian-19 aSSd 26,044 42,796 


evropis 

** 

rekonstruqciisa da ganviTarebis banki 

13-ian-09 

12-noe-10 

15-ian-19 

5-dek-15 

aSSd 

aSSd 

26,044 

20,000 

42,708 

35,272 

samxreT-aRmosavleT evropis evropuli fondi 15-dek-10 15-ivn-18 aSSd 30,000 35,016 

`semfer augustos~ B.V ** 31-oqt-07 25-oqt-17 aSSd 15,000 27,134 

samxreT-aRmosavleT evropis evropuli fondi 15-dek-10 15-ivn-18 aSSd 20,000 24,529 

sazRvargareTuli kerZo sainvesticio 

holandiis 

korporacia 

ganviTarebis 

** 

safinanso kompania 

23-dek-08 

22-ian-07 

19-dek-18 

15-mar-14 

aSSd 

aSSd 

10,000 

12,500 

17,477 

13,502 

saerTaSoriso finansuri korporacia 21-oqt-10 15-dek-14 aSSd 5,000 8,774 

msoflio biznes kapitali 17-Teb-06 1-oqt-16 aSSd 10,000 8,699 

ss qarTu banki 23-dek-10 6-ian-11 aSSd 7,500 7,512 

ss HSBC banki jorjia 15-nov-10 15-Teb-11 aSSd 4,000 7,112 

Rss paSa banki 8-nov-10 8-Teb-11 evro 3,000 7,050 

msoflio biznes kapitali 29-mai-07 25-mar-17 aSSd 4,151 6,441 

ss azerbaijanis saerTaSoriso banki-jorjia 31-dek-10 3-ian-11 lari 6,400 6,400 

ss biTiai banki 10-nov-10 22-Teb-11 aSSd 3,000 5,335 

UAB medicinosd banks” 12-nov-10 11-Teb-11 aSSd 3,000 5,335 

naSTebi 5,000 aTas larze naklebi 

jami 

sxvadasxv sxvadasxv sxvadasxa 

v 

various 27,700 

1,134,210 

79




(aTas larSi) 

19. valdebulebebi sakredito dawesebulebebis winaSe (gagrZeleba) 

2009 wlis 31 dekembris mdgomareobiT: 

sakredito dawesebuleba 

gacemis 

TariRi 

sakontraqt 

o vada valuta 

sesxis 

odenoba 

Tavdapirvel 

valutaSi 


2009 wlis 31 

dekembris 

mdgomareobiT 

larSi (*) 

`bi-ji fainans~ B.V. 8-Feb-07 8-Feb-12 USD 200,000 303,164 


13-Jan-09 15-Jul-13 USD 50,000 85,979 

evropis rekonstruqciisa da ganviTarebis banki 13-Jan-09 15-Jan-14 USD 50,000 85,920 

`meril linC inTerneSnl~** 17-Aug-07 17-Aug-12 USD 35,000 59,472 


holandiis 

korporacia 

ganviTarebis safinanso kompania** 

18-Jul-08 

23-Dec-08 

15-Oct-18 

19-Dec-18 

USD 

USD 

30,000 

29,000 

49,570 

48,602 

evropis rekonstruqciisa da ganviTarebis banki** 

saerTaSoriso finansuri korporacia** 

13-Jan-09 

13-Jan-09 

15-Jan-19 

15-Jan-19 

USD 

USD 

23,956 

23,956 

42,365 

42,344 

`siTibenq inTerneSnl~ PLC 13-Jan-09 15-Jan-19 USD 26,044 40,700 

`meril linC inTerneSnl~ 13-Jan-09 15-Jan-19 USD 26,044 40,694 

`semfer augustos~ B.V.** 31-Oct-07 25-Oct-17 USD 15,000 25,803 

holandiis ganviTarebis safinanso kompania 22-Jan-07 15-Mar-14 USD 12,500 17,029 


siTibank 

korporacia** 

inTerneSnl, PLC 

23-Dec-08 

17-Aug-07 

19-Dec-18 

20-Feb-10 

USD 

USD 

10,000 

8,333 

16,844 

14,157 

siTibank inTerneSnl, PLC 17-Aug-07 20-Aug-10 USD 8,333 14,000 

msoflio biznes kapitali 17-Feb-06 1-Oct-16 USD 10,000 9,705 

msoflio biznes kapitali 29-May-07 25-Mar-17 USD 4,151 6,998 

komercbanki AG 30-Dec-05 30-Dec-10 USD 3,837 6,172 

naSTebi 5,000 aTasi larze naklebi 

jami 

sxvadasxv sxvadasxv sxvadasxv sxvadasxv s 

ous various 

16,822 

926,340 

* - Seicavs daricxul procents 

** sul daqvemdebarebuli sesxebi moicavs 317,830 lars 2011 wlis 31 dekmebrisTvis (2010: 332,305 lari, 2009: 317,792) 

2011, 2010 da 2009 wlebis 31 dekembers dasrulebuli wlebis ganmavlobaSi jgufma gadaixada 

11.65%-mde saerTaSoriso sakredito institutebidan sesxebze. 

msxvil sesxebTan dakavSirebuli xelSekrulebebi moicavs garkveul SeTanxmebebs, romliTac 

jgufisTvis dgindeba kapitalis adeqvaturobis, likvidobis savaluto poziciis, 

kreditebTan dakavSirebuli da sxva limitebi. 2011, 2010 da 2009 wlebis 31 dekembris 

mdgomareobiT, jgufi asrulebda sakredito dawesebulebebisagan miRebuli sesxebis yvela 

pirobas. 

2009 welis 13 ianvars evropis rekonstruqciisa da ganviTarebis bankisgan da saerTaSoriso 

finansuri korporaciisgan miRebul sesxebs, romelic moicavs 26,044 aTas aSS dolars 

TviToeuli, hqond konveraciis Tvisebas, romelic ZalaSia sesxis gacemis TariRidan 5 wlis 

ganmavlobaSi (konvertaciis periodi). an konvertaciis mixedviT gamosaSvebi savaraudo 

potenciuri aqciebis raodenoba 2011 wlis 31 dekembrisTvis Seadgens bankis 3,635,006 

Cverulebriv aqcias (SeniSvna 21, 2010 wlis 31 dekmberi: 3,474,614). 

20. valdebulebebi meanabreTa winaSe 

valdebulebebi meanabreTa winaSe moicavs: 

2011 2010 2009 

mimdinare angariSebi 1,206,750 864,327 559,987 

vadiani depozitebi 1,347,334 1,140,371 712,483 

gamoSvebuli Tamasuqebi 181,138 21,610 660 

valdebulebebi meanabreTa winaSe 2,735,222 2,026,308 1,273,130 

akreditivebis da garantiebis uzrunvelyofis 

saxiT flobili (SeniSvna 22) 

24,353 20,336 56,758 

80




(aTas larSi) 

20. valdebulebebi meanabreTa winaSe (gagrZeleba) 

2011 wlis 2010 wlis da 2009 wlis 31 dekembris mdgomareobiT jgufis mier gamoSvebuli 

Tamasuqebi moicavs Tamasuqebs, romlebsac adre flobdnen finansuri institutebi da 

romlebic warmoadgens fiqsirebul vadian da fiqsirebul procentian sadepozito 

sertifikatebis efeqtur ekvivalnets. Tamasuqebis saSualo efeqturi vada moicavs 5 Tves (2010: 

10 Tve; 2009: 9 Tve) 

wlis bolos, valdebulebebi meanabreTa winaSe, 580,710 laris odenobiT (21%) gadasaxdeli iyo 

10 umsxvilesi meanabrisaTvis (2010: 363,420 (18%), 2009: 217,264 (17%)). 

valdebulebebi meanabreTa winaSe moicavs angariSebs Semdegi meanabreTa tipebisTvis: 

2011 2010 2009 

kerZo sawarmoebi 1,290,908 964,150 579,509 

fizikuri pirebi 1,056,852 894,312 637,789 

saxelmwifo da sabiujeto organizaciebi 387,462 167,846 55,832 


momxmarebelTa angariSebis dayofa dargebis mixedviT Semdegia: 

2011 2010 2009 

fizikuri pirebi 1,056,852 894,312 637,789 

vaWroba da momsaxureba 655,551 421,138 273,850 

saxelmwifo da sabiujeto organizaciebi 387,462 167,846 55,832 

energetika 239,797 256,275 116,810 

mSenebloba da developmenti 175,906 93,827 79,082 

samTomadno da gadamamuSavebeli 131,734 113,283 27,638 

transporti da komunikaciebi 36,871 35,226 47,166 

soflis meurneoba 14,844 21,379 13,588 

sxva 36,205 23,022 21,375 


21. kapitali 


2011 wlis 31 dekembris mdgomareobiT, saaqcio kapitali moicavda 43,308,125 Cveulebriv 

aqcias, romelTagan 32,877 gamoSvebuli da srulad gadaxdili iyo (2010: 43,308,125 

Cveulebrivi aqcia, romelTagan 31,344,860 gamoSvebuli da srulad gadaxdilia, 2009: 

43,308,125 Cveulebrivi aqcia, romelTagan 31,306,071 gamoSvebuli da srulad gadaxdilia). 

TiToeuli aqcia erTi (1) qarTuli laris nominaluri Rirebulebisaa. 2011 wlis 31 

dekembrisaTvis gamoSvebuli da gadauxdeli aqciebi Semdegia: 

aqciebis aqciebis 

raodenoba raodenoba 

Cveulebrivi Cveulebrivi 

31 dekemberi 2008 31,253,283 31,253 

saaqcio kapitalis zrda, romelic warmoiqmneba wilobrivi 

gadaxdebidan (SeniSvna 30) 

52,788 53 

31 dekemberi 2009 31,306,071 31,306 



38,789 39 

81




(aTas larSi) 

31 dekemberi 2010 31,344,860 31,345 

globaluri sadepozito sertifikatis gacemiT warmoqmnili 

saaqcio kapitalis zrda (SeniSvna 30) 

1,500,000 1,500 



32,687 33 

31 dekemberi 2011 32,877,547 32,878 

jgufis saaqcio kapitali aqcionerebis mier Setanil iqna qarTul larSi da isini uflebamosilni 

arian dividendebze qarTul larSi. 3,635,006 potenciuri aqciebi, romelic inaxeba jgufis mier 2011 

wlis 31 dekembrisTvis (SeniSvna 19, 2010 31 dekemberi 3,474,614) ar CaiTvala ganzavebulad, radgan 

maTi konvertacia arc Seamcirebs TiToeuli aqciidan Semosavals da arc gazrdis TviTouel 

aqciaze danakargs gagrZelebul operaciebis Sedegad, rogorc miTiTebulia bass 33 -`Semosavlebi 

aqciaze”. konvertacia aseve Seamcirebs jgufis procentul danaxarjebs am savalo instrumentebze 

da 2011 wels gazrdis bankis Cveulebrivi aqcionerebis mogebas. qvmoT warmodgenilia mogeba 

TviToeul aqciaze 

sabaziso mogeba aqciaze 

bankis Cveulebrivi aqcionerebisTvis 

mikuTvnebuli wlis mogeba (zarali) 


mikuTvnebuli gagrZelebuli operaciebidan 

wlis mogeba (zarali) 

wlis ganmavlobaSi gadauxdeli Sewonili 

saSualo raodenobis Cveulebrivi aqciebi 

2011 2010 2009 

132,531 83,640 (91,370) 

147,750 83,640 (91,370) 

29,866,366 30,037,041 30,494,397 

sabaziso mogebebi aqciaze 4.4375 2.7846 (2.9963) 

gagrZelebuli operaciebidan sabaziso 

mogebebi aqciaze 

ganzavebis efeqti 

saprocento xarjebi konvertirebad savalo 

instrumentebze, gadasaxadis daqviTviT 

ganzavebuli potenciuri Cveulebrivi aqciebis 

raodenoba 

ganzavebis mogebebi aqciaze 


mikuTvnebuli wlis mogeba (zarali) 


mikuTvnebuli gagrZelebuli operaciebidan 

wlis mogeba (zarali) 

wlis ganmavlobaSi gadauxdeli Sewonili 

saSualo raodenobis Cveulebrivi aqciebi 

4.9470 2.7846 (2.9963) 

8,029 8,143 – 

3,635,006 3,474,614 – 

140,560 91,783 (91,370) 

155,779 91,783 (91,370) 

33,501,372 33,511,655 30,494,397 

sabaziso mogebebi aqciaze 4.1957 2.7388 (2.9963) 

gagrZelebuli operaciebidan sabaziso 

mogebebi aqciaze 

saxazino aqciebi 

4.6499 2.7388 (2.9963) 

2011 wlis 31 dekembris mdgomareobiT, 1,208 laris odenobis saxazino sakuTari aqcia moicavs 

bankis aqciebs, romlebic ekuTvnis mis Svilobil kompaniebs (2010: 1,072 lari, 2009: 668 lari ). 

saxazino sakuTari aqciebis Sesyidvebi da gayidvebi ganxorcielda Ria bazarze bankis 

Svilobili kompaniebis mier: ss `biji kapitali”, Sps `biji Treiding”, Sps `galT end 

TagarT holdingz limiTedi~, Sps `ji-si holdingz~ da ss `sadazRvevo kompania aldagi bisi-ai~. 

gamosyiduli sakuTari aqciebi, romlebic Seadgens 438 lars 2010 wlis 31 dekembris 

mdgomareobiT, (2010: 438 lari, 2009: 1,009 lari) inaxeba bankis Semnaxveli momsaxurebis 

gamwevis -àbakus korporit TrasTi limiTed~-is mier. 

2011 wlis 31 dekembriT dasrulebuli wlis ganmavlobaSi, 32,687 laris nominaluri 

Rirebulebis 33 Cveulebrivi aqcia da 620 laris odenobis damatebiT Setanili kapitali 

gaica kompensaciis saxiT zeda rgolis xelmZRvanelobis mimarT (2010: 39 laris 

82




(aTas larSi) 

nominaluri Rirebulebis 38,789 Cveulebrivi aqcia da 523 laris odenobis damatebiT 

Setanili kapitali, 2009: 53 laris nominaluri Rirebulebis 52,788 Cveulebrivi aqciebi da 

430 laris damatebiT gadaxdili kapitali). 

dividendebi 

2010 wlis Semowmebuli finansuri Sedegebis safuZvelze 2011 wlis 15 ivniss, ss 

saqarTvlos bankis aqcionereTa wliurma saerTo krebam gamoacxada 2011 wlis 

dividendebi, romelic moicavs 0.3 lars erT aqciaze. es deklaracia ZalaSia 2011 wlis 1 

ivlisidan. mTlianad 9,169 laris dividendi gaica 2011 wlis 18 ivliss. 

dividendebi ar gamocxadebula an ar gadaxdila 2010 da 2009 wlebis ganmavlobaSi. 

sxva rezervebis Sinaarsi da mizani 

ZiriTadi saSualebebis da sainvesticio qonebis gadafasebis rezervi 

ZiriTadi saSualebebis da sainvesticio qonebis gadafasebis rezervi gamoiyeneba Senoba 

nagebobebis da sainvesticio qonebis samarTliani Rirebulebis gazrdis da Semcirebis 

aRricxvisaTvis, im pirobiT, Tu amgvari Semcireba ukavSirdeba kapitalSi adre asaxuli 

imave aqtivis zrdas. es rezervi aseve gamoiyeneba am sainvesticio qonebis samarTlian 

RirebulebaSi zrdisTvis, romelbic reklasificirebuli iqna miwidan an Senobidan wina 

wlebSi da romlisTvisac pirveli Sefaseba unda aisaxos kapitalSi. 

sxva rezervebis Sinaarsi da mizani 

gaunawilebeli mogeba (zarali) gasayidad arsebul sainvesticio fasian qaRaldebze 

es rezervi gansazRvravs samarTliani Rirebulebis cvlilebebs gasayidad arsebul 

investiciebze. 

ararealizebadi mogeba (zarali) arsebul Svilobil kompaniebSi aqciebis ganzavebidan an 

gayidvidan/ SeZenidan. 

ucxouri valutis konvertirebis rezervi 

ucxouri valutis konvertirebis rezervi gamoiyeneba ucxouri Svilobili kompaniebis 

finansuri angariSgebis gadayvaniT warmoqmnili sakurso sxvaobebis aRricxvisaTvis. 

ucxouri valutis rezervebSi moZroba iyo Semdegi: 

ucxouri valutis 

konvertaciis 

rezervi 

31 dekemberi 2008 (16,981) 

valutis konvertaciiT gamowveuli danakargi, aRiarebuli sxva saerTo danakrgSi (12,145) 

31 dekemberi 2009 (29,126) 

valutis konvertaciiT gamowveuli danakargi, aRiarebuli sxva saerTo 

5,116 

SemosavalSi 

31 dekemberi 2010 (24,010) 

Svilobili kompaniis finansuri angariSebis funqciuri valutebidan jgufis 

saprezentacio valutaSi konvertaciis Sedegad warmoqmnili sakurso 

sxvaobebi 

funqciuri valutebidan jgufis saprezentacio valutaSi konvertaciis Sedegad 

arafuladi punqtebis konvertaciiT gamowveuli danakargi 

gagrZelebuli operaciebidan sakurso sxvaobis aRiarebuli danakargi, 

aRiarebuli sxva srul SemosavalSi 

Sewyvetili operaciebis Sedegad (Svilobili kompaniis gayidva) sakurso mogeba 

(SeniSvna 29) 


(39,568) 

(12,925) 

(52,493) 

26,130 

(50,373) 

83




(aTas larSi) 

21. kapitali (gagrZeleba) 

Ria savaluto poziciis riskis gadafasebis Sedegad danakargi Svilobil kompaniebSi 

investiciebis saSualebiT gamowveulia ucxour Svilobil kompaniaSi investirebis 

Tanxis istoriuli Rirebulebis da imave ucxour Svilobil kompaniaSi aqcionerebis 

mTlian gadauxdel kapitalis Soris sxvaoba prezentaciis valutaSi (qarTuli lari) 

angariSgebis TariRisTvis arsebuli gacvliTi kursiT. 

2011, 2010 da 2009 wlebis 31 dekembers dasrulebuli wlebisTvis Ria savaluto 

poziciebis gaufasurebis Sedegad mogebebi (danakargebi) ZiriTadad moicavs belorusis 

rublis gaufasurebiT warmoqmnil danakargs, romelSic denominirebuli iyos ss 

`beloruski narodni bankis” aqcionerTa mTeli kapitali da ukrainuli grivnis 

gaufasurebiT, romelSic denominirebuli iyo ss `biji bankis” aqcionerTa mTliani 

kapitali, orive qarTul larTan mimarTebaSi gaufasurebuli. 

Svilobili kompaniis (ss `biji banki”) gayidvis Sedegad savaluto mogeba moicavs sxva 

sruli mogeba-zaralis angariSis bass 27.34 –is mier gansazRvrul mogeba zaralSi 

gadayvanis Sedegad wina wels warmoqmnil dagrovil sakurso sxvaobas. 

sxva rezervebSi gadasvla 2011, 2010 da 2009 wlis 31 dekembrisTvis dasrulebul wlebSi 

warmodgenilia sxva sruli mogeba- zaralis angariSebSi. 

22. pirobiTi valdebulebebi 

iuridiuli 

jgufis Cveulebrivi biznes saqmianobisas warmoSobil sasamarTlo procesebTan da 

saCivrebTan mimarTebaSi xelmZRvanelobas miaCnia, rom amgvari sasamarTlo procesebidan 

valdebuleba, Tu aseTs adgili eqneba, ar iqoniebs arsebiT uaryofiT gavlenas jgufis 

finansur mdgomareobaze an samomavlo saqmianobis Sedegebze. 

finansuri valdebulebebi da gauTvaliswinebeli xarjebi 

2011, 2010 da 2009 wlis 31 dekembris mdgomareobiT, jgufis pirobiTi finansuri 

valdebulebebi moicavs: 

2011 2010 2009 

kreditTan dakavSirebuli valdebulebebi 

garantiebi 463,393 374,230 240,613 

gamouyenebeli sasesxo saxsrebi 120,339 138,057 76,999 

akreditivebi 70,224 58,779 30,038 

valdebulebebi saoperacio ijaridan 

653,956 571,066 347,650 

ara ugvianes 1 wlisa 5,040 7,016 6,281 

1 wlis Semdgom, magram ara ugvianes 5 wlisa 9,979 13,984 13,396 

5 wlis Semdgom 3,122 6,037 6,497 

18,141 27,037 26,174 

kapitaluri danaxarjebis valdebulebebi 47,918 39,523 9,309 

akreditivebis da garantiebis uzrunvelyofis 

saxiT arsebuli fuladi saxsrebis gamoklebiT 


gamoklebuli –akreditivTan dakavSirebuli 

debitoruli davalinebebi 

(24,353) (20,336) (56,758) 

(515) – – 

rezervebis gamoklebiT (SeniSvna 17) (386) (4,407) (2,126) 

pirobiTi finansuri valdebulebebi, wminda 694,761 612,883 324,249 

84




(aTas larSi) 

22. pirobiTi valdebulebebi (gagrZeleba) 

2011 wlis 31 dekembris mdgomareobiT, kapitalurma danaxarjebma, romelSic sedioda 

qonebis SeZena da kapitaluri remonti Seadgina 41,119 lari, xolo programuli 

uzrunvelyofis da sxva aramaterialuri aqtivebis nasyidobis valdebulebam Seadgina 

6,799 lari. 2010 wlis 31 dekembris mdgomareobiT, kapitalurma danaxarjebma, romelSic 

sedioda qonebis SeZena da kapitaluri remonti Seadgina 6,799 lari, xolo programuli 

uzrunvelyofis da sxva aramaterialuri aqtivebis nasyidobis valdebulebam Seadgina 

7,212 lari. 2009 wlis 31 dekembris mdgomareobiT, kapitalurma danaxarjebma Seadgina 

2,132 laris qonebis, 1,512 laris mowyobilobis da 7,797 laris programuli 

uzrunvelyofis da sxva aramaterialuri aqtivebis nasyidobis valdebuleba. 

23. wminda Semosavali gasamrjelodan da sakomisiodan 

2011 2010 2009 

saangariSsworebo operaciebi 62,015 50,511 33,907 

garantiebi da akreditivebi 17,528 12,362 10,764 

fuladi saxsrebiT nawarmoebi operaciebi 9,048 8,061 6,145 

sakonsultacio 1,668 1,129 578 

valutis gacvlis operaciebi 1,507 677 1,024 

sabrokero momsaxurebis gasamrjelo 1,033 545 1,891 

sxva 742 980 10,290 

Semosavali gasamrjelodan da sakomisiodan 93,541 74,265 64,599 

saangariSsworebo operaciebi (12,255) (7,324) (4,299) 

fuladi saxsrebiT nawarmoebi operaciebi (2,424) (780) (1,619) 

garantiebi da akreditivebi (1,856) (1,164) (2,106) 

valutis gacvlis operaciebi (550) (14) (28) 

sadazRvevo sabrokero momsaxurebis gasamrjelo (543) (646) (534) 

sxva (576) (917) (988) 

Semosavali gasamrjelodan da sakomisiodan (18,204) (10,845) (9,574) 

wminda Semosavali gasamrjelodan da sakomisiodan 75,337 63,420 55,025 

24. wminda sadazRvevo Semosavali 

wminda gamomuSavebuli sadazRvevo premiebi, wminda sadazRvevo moTxovnebi da Sesabamisi wminda 

sadazRvevo Semosavali 2011, 2010 da 2009 wlebis 31 dekembris mdgomareobiT moicavda: 

2011 2010 2009 

premia sicocxlis dazRvevis kontraqtebidan 2,200 2,562 2,865 

premia zogadi dazRvevis kontraqtebidan, pirdapiri 54,241 53,744 56,694 

sul premiebi 56,441 56,306 59,559 

sicocxlis dazRvevis rezervis jamuri cvlileba 82 96 (377) 

gamoumuSavebeli premiis rezervis jamuri cvlileba 135 (1,001) 1,690 

sadazRvevo kontraqtebidan gamomuSavebuli mTliani jamuri 

premiebi 

56,658 55,401 60,872 

sicocxlis dazRvevis kontraqtebis premiis gadamzRvevis wili (148) (1,321) (1,086) 

zogadi dazRvevis kontraqtebis premiis gadamzRvevis wili (9,750) (11,038) (9,502) 

sicocxlis dazRvevis rezervis cvlilebis gadamzRvevis wili (183) (57) 254 

zogadi dazRvevis kontraqtebis premiis cvlilebis 

(181) 1,576 (5,061) 

gadamzRvevis wili 

sul gadamzRvevebis wili gamomuSavebul jamur premiebSi 

sadazRvevo kontraqtebTan dakavSirebiT 

(10,262) (10,840) (15,395) 

wminda sadazRvevo gamomuSavebuli premiebi 46,396 44,561 45,477 

85




(aTas larSi) 

24. wminda sadazRvevo Semosavali (gagrZeleba) 

2011 2010 2009 

sicocxlis dazRvevasTan dakavSirebiT dafaruli moTxovnebi (465) (1,272) (830) 

zogad dazRvevasTan dakavSirebiT dafaruli moTxovnebi, (30,850) (28,493) (43,137) 

sul dafaruli sadazRvevo moTxovnebi (31,315) (29,765) (43,967) 

gadamzRvevis wili sicocxlesTan dakavSirebul dafarul 

moTxovnebSi 

428 988 523 

gadamzRvevis wili zogadi dazRvevis dafarul moTxovnebSi 1,186 1,497 12,356 

jamuri cvlileba saerTo sadazRvevo sakontraqto 

valdebulebebSi 

774 (1,486) 12,563 

gadamzRvevis wili mTliani sadazRvevo kontraqtebis 

valdebulebebis cvlilebebSi 

269 868 (11,577) 

warmoqmnili wminda sadazRvevo moTxovnebi (28,658) (27,898 ) (30,102) 

wminda sadazRvevo Semosavali 17,738 16,663 15,375 

24. savaluto kursis sxvaobiT warmoqmnili sufTa mogeba 

2011 wlis 31 dekemebrisTvis dasrulebili wlis savaluto kursidan wminda mogebebi 

moicavs 25,056 aTas laris sufTa sakurso mogebas Ria poziciis hejirebis Sedegad, 

romelic jgufs aqvs belorusuli rublze, romelSic denominirebulia misi Svilobili 

kompaniis ss `beloruski narodni bankis” aqcionerTa kapitali. belorusuli rublis 

gaufasurebam gaaufasura ss beloruski narodni bankis aqcionerTa kapitalis larSi 

warmodgenili Rirebuleba, romlis Sedegad danakargi aRiarebulia sxva sruli mogebazaralis 

angariSis saSualebiT. Tumca banks hqonda vadian garigebebTan dakavSirebuli 

valdebulebebi belorusuli rublis msgavs adgilobriv RirebulebasTan mimarTebaSi, 

romelic inaxeba belorusiis respublikis erovnul bankTan savaluto svop 

xelSekrulebis saSualebiT. am poziciis gadafasebis Sedegad mogeba aRiarebulia 

mogeba-zaralis saSualebiT. 

25. xelfasebi da TanamSromelTa sxva Semosavali, zogadi da administraciuli 

xarjebi 

2011 2010 2009 

xelfasebi da premiebi (117,703) (103,352) (96,745) 

socialuri gadasaxadi (1,408) (1,199) (3,760) 

xelfasebi da TanamSromelTa sxva sargebeli (119,111) (104,551) (100,505) 

marketingi da reklama (15,614) (12,534) (9,847) 

ijara (9,396) (10,082) (10,431) 

SekeTeba da momsaxureba (6,330) (6,205) (5,313) 

iuridiuli da sxva profesiuli momsaxureba (6,077) (6,149) (7,010) 

komunikacia (4,679) (4,975) (5,482) 

saoperacio gadasaxadebi (4,464) (4,188) (4,960) 

saofise mowyobilobebi (3,350) (3,786) (2,484) 

samgzavro xarjebi (2,412) (1,975) (2,019) 

usafrTxoeba (2,061) (3,055) (4,647) 

warmomadgenlobiTi xarjebi da gasarTobi 

RonisZiebebi 

(1,889) (1,709) (1,307) 

86




(aTas larSi) 

sabanko momsaxureba (874) (756) (623) 

personalis swavleba da daqiraveba (733) (416) (177) 

jarimebi (329) (178) (510) 

dazRveva (232) (678) (399) 

sxva (3,502) (4,314) (2,130) 

zogadi da administraciuli xarji (61,942) (61,000) (57,339) 

26. xelfasebi da TanamSromelTa sxva Semosavali, zogadi da 

administraciuli xarjebi (gagrZeleba) 

xelfasebi da premiebi moicavs bankis aRmasrulebeli pirebis kapitalis kompensaciis gegmis 

xarjebis 12,092lars, 12,092lars da 10,530 lars 2011, 2010 da 2009 wlebSi, romlebic 

dakavSirebulia jgufSi damtkicebuli wilobrivi gadaxdebis sqemasTan (SeniSvnebi 30 da 34). 

aRmasrulebeli pirebis kapitalis kompensaciis gegmis xarjebi 2011 wlis 31 dekembris 

bolosTvis moicavs wina wlebis Sesabamisi daqviTuli gadasaxadebis erTjeradi Sesworebis 

2,906 lars axali sagadasaxado wesis safuZvelze, romelic miiRo bankma saqarTveloSi 

sagadasaxado organoebisgan 

27. mogeba hiperinflaciidan 

2011 wlis 1 ianvridan, belorusiis ekonomika bass 29-is - `finansuri angariSgeba 

hiperinflaciur qveynebSi” (`bass 29”) - kriteriumis mixedviT iTvleba hiperinflaciur 

qveynad. es standarti moiTxovs, rom hiperinflaciuri qveynis valutaSi momzadebuli 

finansuri angariSebi warmodgenili iyos angariSgebis TariRisTvis erTeuli valutis 

erTeulis maCveneblis TvalsazrisiT. 

bass 29-is gamoyenebis dros, bankis Svilobilma kompaniebma belorusiaSi ss `beloruski 

narodni bank” da Sps BNB lizingi, gamoiyenes belorusis samomxmareblo fasis 

indesqidan miRebul konvertaciis koeficientebi, romlebic gamoaqveyna belorusiis 

respublikis statistikis saxelmwifo komitetma. samomxmareblo fasis indeqsi eqvs 

wliani periodisTvis da Sesabamisi koeficientebi mas Semdeg rac 2006 wlis 1 ianvars 

belorusia aRar iTvleboda hiperinflaciurad, Semdegia: 

weli indeqsi, konvertaciis 

% koeficienti 

2006 106.6 320.8 

2007 112.1 286.2 

2008 113.3 252.6 

2009 110.1 229.4 

2010 109.9 208.7 

2011 208.7 100.0 

fuladi aqtivebi da valdebulebebi ar gadaangariSda radgan isini ukve aris 

gamoxatuli monetarul erTeul valutaSi angariSgebis TariRisTvis. rafuladi 

aqtivebi da valdebulebebi (punqtebi, romlebic ar aris ukve gamoxatuli angariSgebis 

TariRisTvis) gadaangariSda Sesabamisi indeqsis gamoyenebiT. bankis wminda arafulad 

poziciaze inflaciis gavlena Setanilia mogeba zaralis angariSSi rogorc 

hiperinflaciidan mogeba da udris 5,169 lars 2011 wlis 31 dekembers dasrulebuli 

wlisTvis. 

87




(aTas larSi) 

28. sxva arasaoperacio Semosavali da sxva arasaoperacio xarjebi 

sxva arasaoperacio Semosavali 2011 wlis 31 dekembers dasrulebuli wlisTvis 

ZiriTadad Seicavs kompaniaTa jguf `blok jorjiasTan” gaerTianebidan miRebul 

Semosavals 1,455 lars, saidanac 955 lari aris uaryofiTi gudvili, romelic warmoiqmna 

SeZenisas da 811 lari aris sauravebidan Semosavali. 2011 welis 31 dekembers 

dasrulebuli wlisTvis sxva arasaoperacio Semosavali 5,308 lari warmoadgens bankis 

sakuTari evro bondebis gamosyidvidan mogebas. 

sxva arasaoperacio danaxarjebi 2011 wlis 31 dekembers dasrulebuli wlisTvis 

ZiriTadad moicavs 6,431 lars (2010: 545 lari) danakargs, romelic warmoiqmna bankis 

sakuTari evro bondebis gamosyidvis Sedegad e.i. `biji fainansisTvis” gadasaxdeli 

Tanxis gamosyidvis Sedegad, da 6,722 laris danaxarji, romelic warmoeqmna jgufs 

londonis birJaze sadazRvevo Senatanis moTxovnaze, gaerTianebul samefoSi axali 

holdinguri kompaniis Sesabamis registraciaze da satendero SeTavazebis procesze. 

damatebiTi informacia aRniSnulis Sesaxeb ixileT SeniSvnaSi 36. 

29. wminda zarali Sewyvetili operaciebis Sedegad 

2011 wlis TebervalSi jgufma gamoacxada ss `biji bankSi”, ukrainaSi misi filialis 80% 

kapitalis wilis faqtobrivi gayidvis Sesaxeb. 

mTliani sakompensacio Tanxa, romelic moicavda ss `biji kapitalisTvis (bankis kuTvnili 

sabrokero Svilobili kompania) gadasaxdel sabrokero mosakrebels Seadgenda 9.6 milion 

aSS dolars (16.8 milioni lari), saidanac 5.0 milioni aSSd (8.9 milioni lari) gadaxdili 

iqna am gancxadebis gakeTebis dRes xolo darCenili 4.6 milioni aSSd (8.2 milioni lari) 

gadasaxdelia gayidvis TariRidan weliwad naxevris ganmavlobaSi. 

banki inarCunebs 19.4% wils kss bank perSiaSi (adre cnobili rogorc ss `biji banki”). 

88




(aTas larSi) 

am gayidvis Sedegad sruli danakargi aRiarebulia wlis konsolidirebuli 

mogeba-zaralis angariSis `Sewyvetili operaciebidan sufTa zarali” 

gaanalizebulia Semdegnairad: 


dekembers 

dasrulebuli 

wlisTvis 

ukrainuli grivnis gaaufasurebis gamo savaluto kursiT gamowveuli im 

danakargis reklasifikacia, romelic dagrovda sxva sruli Semosavlis 

saSualebiT wina wlis ganmavlobaSi. (29,126) 

realizebuli zarali gayidvis Sedegad moicavs gayidvis TariRisTvis ss 

`biji bankis” 80%-Si investiciis koreqtirebul sabalanso Rirebulebasa 

da miRebuli Sesabamisi kompensaciis samarTlian Rirebulebas Soris 

sufTa sxvaobas (5,550) 

darCenili debitoruli davalianebebis nawilis gaufasureba (SeniSvna 17) (3,730) 

korporatiuli saSemosavlo gadasaxadis uSualo sargebeli ss `biji bankSi” 

80% wilis gayidvaze aRirebuli kanoniT gaTvaliswinebuli danakargidan 

(SeniSvna 16) 

23,187 

sufTa danakargi Sewyvetili operaciebidan (15,219) 

Sewyvetili operaciebisTvis mogeba erT aqciaze: 

– Sewyvetili operaciebis Sedegad aqciaze 

sabaziso danakargi 

– Sewyvetili operaciebis Sedegad aqciaze 

ganzavebuli danakargi 

(0.5095) 

(0.4542) 

sruli Semosavlis angariSSi aRiarebuli mogeba `Sewyvetili operaciebis Sedegad sxva 

sruli Semosavlis” saSualebiT gaanalizebulia Semdegnairad: 


dekembers 

dasrulebuli 

wlisTvis 

gayiduli Svilobili kompaniis ZiriTadi saSualebebis rezervis gadafaseba 

(SeniSvna 14) (2,501) 

ukrainuli grivnis gaaufasurebis gamo savaluto kursiT gamowveuli im 

danakargis reklasifikacia, romelic dagrovda sxva sruli Semosavlis 

saSualebiT wina wlis ganmavlobaSi (SeniSvna 21) 29,126 

mimdinare wels ukrainuli grivnis gaufasurebis Sedegad gamowveuli 

savaluto kursis danakargi (SeniSvna 21) (2,996) 

sxva sruli Semosavlis komponentebTan dakavSirebuli saSemosavlo 

gadasaxadi (SeniSvna 16) 

625 

Sewyvetili operaciebis Sedegad sxva sruli mogeba 24,254 

Sewyvetili operaciebis Sedegad mTliani sruli mogeba wlis ganmavlobaSi 9,035 

sul ss `biji bankis” aqtivebi da valdebulebebi 2010 wlis 31 dekembrisTvis da 2011 

wlis 31 dekembers da 2010 wlis 31 dekembers dasrulebuli wlis Sedegebi iyo: 

2010 wlis 31 

89




(aTas larSi) 

dekembrisTvis 

fuli da fulis ekvivalentebi 34,588 

sul aqtivebi 225,903 

sul valdebulebebi 198,609 

wminda aqtivebi 27,294 

31 dekembers dasrulebuli 

wlisTvis 

2011 2010 

Semosavali 711 13,535 

sxva saoperacio uprocento danaxarjebi (994) (16,602) 

wlis danakargi saSemosavlo gadasaxadi sargeblamde (138) (6,992) 

saSemosavlo gadasaxadi sargebeli 32 940 

wlis danakargi (106) (6,052) 

qvemoT warmodgenilia 2011 wlis 31 dekembers dasrulebuli wlisTvis jgufis 

konsolidirebuli mogeba-zaralis angariSi 2010 da 2009 wlebTan Sesadarisi 

informaciiT, romelic reklasificirebulia Sewyvetil operaciebTan dakavSirebiT.. 

2011 2010 2009 

saprocento Semosavali 

sesxebi klientebis mimarT 438,989 361,101 330,423 

sainvesticio fasiani qaRaldebi – gasayidad 

37,701 6,819 – 

arsebuli 

sakredito institutebisgan misaRebi Tanxebi 18,103 9,494 4,546 

finansuri ijaridan misaRebi Tanxebi 6,565 2,934 5,112 

sainvesticio fasiani qaRaldebi –dafarvamde 

Senaxuli 

– 12,498 5,725 

saprocento danaxarji 

501,358 392,846 345,806 

klientebisTvis gadasaxdeli Tanxebi (167,294) (97,097) (82,184) 

sakredito institubisTvis gadasaxdeli 

Tanxebi 

(99,763) (91,005) (88,475) 

wminda saprocento Semosavali warmoebuli 

finansuri instrumentebidan wminda 

mogebamde (zaralamde) 

wminda mogeba (zarali) warmoebuli finansuri 

instrumentebidan 

(267,057) (188,102) (170,659) 

234,301 204,744 175,147 

4,984 (7,826) (6,266) 

wminda saprocento Semosavali 239,285 196,918 168,881 

gasamrjelo da sakomisio Semosavali 93,541 72,171 62,219 

gasamrjelo da sakomisio xarji (18,204) (10,043) (9,087) 

wminda Semosavali gasamrjelodan da 

sakomisiodan 

75,337 62,128 53,132 

wminda gamomuSavebuli sadazRvevo premiebi 46,396 44,561 45,477 

wminda sadazRvevo moTxovnebi (28,658) (27,898) (30,102) 

wminda sadazRvevo Semosavali 17,738 16,663 15,375 

90




(aTas larSi) 

gasayidad arsebuli sainvesticio fasiani 

qaRaldebidan miRebuli wminda mogeba 

1,382 2,006 2,676 

sainvesticio qonebis gadafasebidan miRebuli 

wminda mogeba (zarali) 

uxouri valutidan miRebuli wminda mogeba:: 

1,984 536 (4,087) 

– vaWrobidan 45,694 32,893 23,264 

– sakurso sxvaobebi 30,747 98 3,138 

sxva saoperacio xarji 29,052 21,856 11,850 

sxva ara-saprocento xarji 108,859 57,389 36,841 

Semosavali 441,219 333,098 274,229 

xelfasebi da sxva TanamSromlisTvis gadaxdebi (119,111) (94,642) (87,491) 

saerTo da administraciuli xarjebi (61,942) (55,226) (50,822) 

cveTa da amortizacia (27,254) (27,044) (21,325) 

sxva saoperacio xarjebi (9,324) (6,253) (11,740) 

sxva saoperacio arasaprocento xarjebi (217,631) (183,165) (171,378) 

saoperacio Semosavali sakredito riskis 

xarjamde 

saoperacio Semosavali saredito riskis 

Rirebulebamde 

223,588 149,933 102,851 

2011 2010 2009 

223,588 149,933 102,851 

gaufasurebis xarji klientebis kreditebze 

(gaufasurebis xarjebi) finansuri ijaridan 

(23,216) (40,197) (83,925) 

moTxovnebis gaufasurebis xarjis ukugatareba 

(317) 79 (1,008) 

gaufasurebis xarjis ukugatareba (xarji) sxva 

aqtivebsa da maragebze 

1,337 (3,655) (5,692) 

sakredito riskis Rirebuleba (22,196) (43,773) (90,625) 

wminda saoperacio Semosavali 201,392 106,160 12,226 

gaufasurebis xarji gudvilze (23,394) – (73,072) 

gaufasurebis xarji ZiriTad saSualebebze – (435) (3,200) 

sul gudvilisa da ZiriTadi saSualebebis 

gaufasureba 

(23,394) (435) (76,272) 

partniorebis (zarali) mogebis wili (487) 255 (2,649) 

hiperimflaciidan mogeba 5,169 – – 

sxva arasaoperacio Semosavali 2,903 – 5,308 

sxva arasaoperacio xarjebi (13,529) (545) – 

arasaoperacio (xarji) Semosavali (5,944) (290) 2,659 

mogeba (danakargi) gagrZelebuli operaciebidan 

saSemosavlo gadasaxadamde (xarjamde) 

172,054 105,435 (61,387) 

saSemosavlo gadasaxadis danaxarji (21,125) (16,716) (2,540) 

mogeba (zarali) mogebis gadasaxadi 

gagrZelebuli operaciebidan 

150,929 88,719 (63,927) 

91




(aTas larSi) 

wminda zarali Sewyvetili operaciebidan (15,219) (6,052) (34,981) 


gankuTvnili : 


– kontrolis ar mqoneTa wilisadmi 3,179 (973) (7,538) 

135,710 82,667 (98,908) 

qvemoT warmodgenilia ss `biji bankis” sufTa fuladi saxsrebis nakadi 2011 wlis 31 

dekembers dasrulebuli wlisTvis 2010 welTan Sesadarisi informaciiT, 

2011 2010 

sufTa fuladi saxsrebis nakadi saoperacio 

saqmianobebidan 

14,015 5,750 

sufTa fuladi saxsrebis nakadi sainvesticio 

saqmianobebidan 

(2,495) 1,063 

gacvliTi kursis cvlilebebis gavlena fulsa da 

fulis ekvivalentebze 

3 – 

sufTa fuladi saxsrebis nakadi 11,523 6,813 

92




(aTas larSi) 

30. wilobrivi gadasaxadebi 

kapitalis kompensaciis gegma 

àbakus korporit TrasTi limiTedi~ (“administratori”) moqmedebs bankis aRmasrulebeli 

pirebis kapitalis sakompensacio gegmis (“EECP”) administratoris saxiT. 

2009 wlis TebervalSi, bankis sameTvalyureo sabWom gadawyvetileba miiRo, rom 

administratorisaTvis rekomendacia gaewia bankis 306,500 Cveulebrivi aqciis gacemis Taobaze, 

SezRuduli GDRs-is formiT, jgufis 17 aRmasrulebeli pirisaTvis, EECP-s Sesabamisad, 2008 

wlis 31 dekembers darulebul welTan dakavSirebiT. gacema eqvemdebareba sami wliT 

uflebamosilebis miniWebas, romlis erTaderTi piroba iqneba mudmivi dasaqmeba. jgufi 

ganixilavs 2009 wlis 12 Tebervls aqciebis gacemis TariRad. bankis SefasebiT, aqciebis 

samarTliani Rirebuleba 2009 wlis 12 Tebervals iyo 5.02 qarTuli lari erT aqciaze. 

2010 wlis TebervalSi bankis sameTvalyureo sabWom gadawyvita rekomendacia gaewia 

mindobili mesakuTrisTvis gadaecaT SezRuduli GDRs- formis 432,495 bankis Cveulebrivi 

aqciebi jgufis 19 aRmasruleblisTvis EECP-is Sesabamisad 2009 wlis 31 dekembers 

dasrulebul welTan dakavSirebiT. am aqciebs aqvT miniWebuli samwliani uflebamosileba, 

mudmivi daqiravebis erTderTi pirobiT. jgufi miiCnevs 2010 wlis 18 Tebervals 

uflebamosilebis miniWebis TariRad. bankis SefasebiT 2010 wlis 18 Tebervals aqciebis 

samarTliani Rirebuleba iyo 17.29 qarTuli lari TviToeul aqciaze. 

garda amisa, 2010 wlis martSi bankis aRmasrulebeli direqtoris moadgileebma da 2010 wlis 

maisSi bankis aRmasrulebelma direqtorma xeli moaweres samwlian garantirebul wilobriv 

monawileobaze dafuZnebul mTlianad 915,000 GDRs- moculobis kompensaciis xelSekrulebas 

bankTan. TviToeuli aRmasruleblisTvis garantirebuli mTliani GDRs-s moculoba 

daeqvemdebareba sam Tanabari nawilad gadaxdas 3 Tanmimdevruli wlis ganmavlobaSi, 

romelic daiwyeba 2011 wlis ianvridan, romelTagan TviToeuli daeqvemdebareba oTxwlian 

uflebamosilebis periods. 2010 wlis 29 marts jgufi miiCnevs uflebamosilebis mibiWebis 

TariRad moadgileebisTvis da 2010 wlis 25 maiss aRamsrulebeli direqtorisTvis 

uflebamosilebis miniWebis TariRad. bankis SefasebiT 2010 wlis 29 marts aqciebis 

samarTliani Rirebuleba iyo 18.48 qarTuli lari TviToeul aqciaze, xolo aqciebis 

samarTliani Rirebuleba 2010 wlis 25 maiss iyo 18.16 lari. 

2011 wlis TebervalSi sameTvalyureo sabWom gadawyvita gadaeca 143,500 Cveulebrivi aqciebi 

globaluri sadepozito qviTarebis formiT mmarTveli sabWos wevrebisTvis da 123,800 

Cveulebrivi aqcia globaluri sadepozito sertifikatis formiT jgufis 24 

aRmasruleblebisTvis. mmarTveli sabWosTvis gadacemuli aqciebi eqvemdebare samwlian 

uflebamosilebas, xolo 24 aRmasrulebelze gadacemuli aqciebi eqvemdebareba sam 

uflebamosilebas, romlis drosac dasaqmebis gagrZeleba aris erTaderTi piroba orive 

SemTxvevaSi. jgufi Tvlis rom 2011 wlis 21 Tebervali aris uflebamosilebis miniWebis 

TariRi. bankis SefasebiT 2011 wlis 21 TebervlisTvis aqciebis samarTliani Rirebuleba 

iyo 35.86 qarTuli lari erT aqciaze. 

erTjeradi gacema 

2009 wlis agvistoSi, bankis sameTvalyureo sabWom gadawyvita Tavisi Svilobili 

sabrokeros saSualebiT eyida 420,000 bankis Cveulebrivi aqciebi SezRuduli GDR-s formiT 

da gadaeca isini jgufis 21 aRmasrulebeli pirisaTvis, raTa gaemyarebina am 

aRmasruleblebis grZelvadiani motivacia. gacema eqvemdebareba sami wliT uflebamosilebis 

miniWebas, romlis erTaderTi piroba iqneba mudmivi dasaqmeba. jgufi ganixilavs 2009 wlis 

10 agvistos aqciebis gacemis TariRad. bankis SefasebiT, aqciebis samarTliani Rirebuleba 

2009 wlis 10 agvistos iyo 9.61 qarTuli lari erT aqciaze. 

93




(aTas larSi) 

30. wilobrivi gadasaxadebi (gagrZeleba) 

umaRlesi granti, specialuri granti da wliuri grantebi umaRlesi aRmasruleblisTvis 

2007 wlis agvistoSi, bankis sameTvalyureo sabWom gadawyvita, bankis EECP 

administratorisTvis SeeTavazebina bankis sami umaRlesi aRmasrulebeli pirisaTvis (2008 

wlis 1 ianvridan 2 umaRlesi aRmasrulebeli pirisaTvis, vinaidan 1 gaTavisuflda 2007 wlis 

31 dekembramde) bankis aqciebis miniWeba, SezRuduli GDRs-is formiT, aqciebi gadaecema, 

nawilobrivad gadaecema an saerTod ar gadaecema aRmasruleblebs, SeTavazebis mesame 

wlisTavze. gadacemis moculoba damokidebulia mxolod kargad gansazRvrul da Sefasebad 

bazris Sesabamis pirobebis Sesrulebaze. TiToeuli aRmasrulebeli piris mimarT miniWeba 

moicavs umaRles da wliur grants. 

umaRlesi granti warmoadgens erTjerad miniWebas da ganxorcielda mxolod 2007 wels. misi 

moculoba Semoifargleba 2007 wels Sesabamisi aRmasrulebeli piris wliuri ZiriTadi 

xelfasis 200%-iT. wliuri miniWeba xorcieldeba yovel wels, sami Tanmimdevruli wlis 

ganmavlobaSi, romlis drosac aRmasrulebeli piri muSaobs bankSi. 2007 wels, misi 

moculoba SeizRuda Sesabamisi aRmasrulebeli piris wliuri ZiriTadi xelfasis 100%-iT. 

bankis sameTvalyureo sabWos mier damtkicebul cvlilebebze dayrdnobiT, wliuri miniWebis 

moculoba 2008 wels SeizRuda 200%-iT. 

bankma Seafasa 2007 wlisTvis umaRles da wliur grantebTan dakavSirebuli kompensacia 

2007 wels TiToeuli aRmasruleblis wliuri xelfasis 300%-is tolad. 

damoukidebeli konsultantis mier gaangariSebuli bankis aqciis fasis safuZvelze bankma 

Seafasa 2008 wlis wliuri grantiis wliuri xarjebis wilis kompensacia 0-is tolad. 

umaRlesi granti, specialuri granti da wliuri grantebi umaRlesi aRmasruleblisTvis 

(gagrZeleba) 

2009 wlis seqtemberSi, bankis sameTvalyureo sabWom gadawyvita cvlilebebi Seetana 2007 

wlis agvistoSi damtkicebuli wliuri grantis original versiaSi. kerZod, 2009 wlis 

wliuri granti, romelic moicavda 245,773 GDR-s gadaeca bankis or umaRles aRmasrulebels 

bazarze dafuZnebuli uflebamosilebis pirobebis miniWebis gareSe, romlis drosac 

aRmasrulebeli piri muSaobs bankSi mxolod 3 weli. jgufi ganixilavs 2009 wlis 11 

seqtembers aqciebis gacemis TariRad. bankis SefasebiT, aqciebis samarTliani Rirebuleba 

2009 wlis 11 seqtembers iyo 12.83 qarTuli lari erT aqciaze. 

2009 wlis seqtemberSi miRebuli imave gadawyvetilebiT, bankis sameTvalyureo sabWom 

gadawyvita daewesebina specialuri granti, romelic moicavda 68,139 GDR-s, gadaeca imave ori 

aRmasruleblisTvis. es gacema eqvemdebareba ori wliT uflebamosilebis miniWebas, romlis 

erTaderTi piroba iqneba mudmivi dasaqmeba. jgufi ganixilavs 2009 wlis 11 seqtembers 

aqciebis gacemis TariRad. bankis SefasebiT, aqciebis samarTliani Rirebuleba 2009 wlis 11 

seqtembrisaTvis iyo 12.83 qarTuli lari erT aqciaze. 

Sejameba 

Sefasebis TariRisaTvis miniWebuli aqciebis samarTliani Rirebuleba ganisazRvreba 

xelmisawvdom sabazro kotirebebze dayrdnobiT. 

wilobrivi gadaxdebis saSualo Sewonili samarTliani Rirebuleba Sefasebis TariRisaTvis 

Seadgenda 32.94 qarTul lars erT aqciaze 2011 wels (2010 wlis 31 dekemberi: 17.96 qarTuli 

lari erT aqciaze, 2009: 9.46 qarTuli lari). 

jgufis mTliani wilobrivi gadaxdebis xarji 2011 wlis 31 dekembrisTvis Seadgenda 12,092 

lars (2010 wlis 31 dekembers 8,920 lari 2009 wlis 31 dekemberi: 10,530 lari). da Setanilia 

`xelfasebsa da TanamSromlis sxva sargebelSi” rogorc `xelfasebi da premiebi” 

94




(aTas larSi) 

30. wilobrivi gadasaxadebi (gagrZeleba) 

qvemoT mocemulia ZiriTadi wilobrivi gadaxdebis mimoxilva: 

Cveulebrivi aqciebi 2011 2010 2009 

miniWebuli aqciebis raodenoba 32,687 38,789 128,908 

– maT Soris, aRmasrulebeli xelmZRvaneli 

pirebisaTvis 

32,687 38,789 55,158 

vadadamdgari aqciebis raodenoba 32,687 38,789 52,788 

miniWebis dRes saSualo Sewonili Rirebuleba erT 

22.61 17.20 9.04 

aqciaze (lari sruli moculobiT) 

Rirebuleba miniWebis dRes, jami (lari) 739 667 1,165 

wlis ganmavlobaSi asaxuli xarji (lari) (739) (667) (1,390) 

GDRs 

miniWebuli GDRs-is raodenoba 300,897 1,341,918 1,130,412 

– maT Soris, aRmasrulebeli xelmZRvaneli 

pirebisaTvis * 

20,000 461,922 463,912 

vadadamdgari GDRs-is raodenoba 148,429 610,000 153,000 


34.06 17.99 9.51 


Rirebuleba miniWebis dRes, jami (lari) 10,250 24,135 10,747 

wlis ganmavlobaSi asaxuli xarji (lari) (11,353) (8,253) (9,140) 

yvela instrumenti 

miniWebuli wilobrivi instrumentebis saerTo 

raodenoba 

- maT Soris, aRmasrulebeli xelmZRvaneli 

pirebisaTvis da sameTvalyureo sabWos wevrebisTvis 

vadadamdgari wilobrivi instrumentebis saerTo 

raodenoba 



333,584 1,380,707 1,259,320 

52,687 500,711 519,070 

181,116 648,789 205,788 

32.94 17.96 9.46 

Rirebuleba miniWebis dRes, jami (lari) 10,989 24,802 11,912 

wlis ganmavlobaSi asaxuli xarji (lari) 

(SeniSvnebi 26 da 34) 

(12,092) (8,920) (10,530) 

* Tavmjdomare da mTavari aRmasrulebeli piri 2011 wlis 1 ianvramde periodebisTvi da 

mTavari aRmasrulebeli piri mxolod 2011 wlis 1 ianvridan. 

95




(aTas larSi) 

31. riskebis marTva 

Sesavali 

riskebi jgufis saqmianobisTvis Tandayolilia, magram riskebis marTva xorcieldeba 

uwyveti identifikaciis, Sefasebisa da monitoringis procesebiT. riskis marTvas 

gadamwyveti mniSvneloba aqvs jgufis momgebiani funqcionirebisaTvis da bankis 

TiToeuli TanamSromeli pasuxismgebelia riskebis gamomJRavnebasa da aRmoCenaze 

Tavisive saqmianobis farglebSi. jgufis operaciebisaTvis damaxasiaTebeli ZiriTadi 

riskebia sakredito, likvidobasa da sabazro cvalebadobasTan dakavSirebuli riskebi. 

sabazro cvalebadobasTan dakavSirebuli riski, Tavis mxriv, iyofa savaWro da 

arasavaWro riskebad. misTvis aseve damaxasiaTebelia saoperacio riskic. 

riskebis damoukidebeli kontroli ar iTvaliswinebs iseT biznes riskebs, rogorebicaa 

garemosTan, teqnologiur da industriul cvlilebebTan dakavSirebuli riskebi. maTi 

zedamxedveloba xorcieldeba bankis strategiuli dagegmarebis procesis saSualebiT. 

riskis marTvis struqtura 

sameTvalyureo sabWo 

sameTvalyureo sabWo pasuxismgebelia riskis mTlian marTvaze da riskis strategiebisa 

da principebis damtkicebaze. 

auditis komiteti 

auditis komiteti srulad aris pasuxismgebeli riskis strategiis SemuSavebasa da 

ganxorcielebis principebze, struqturaze, meTodebsa da farglebze. is pasuxismgebelia 

riskis ZiriTad sakiTxebze da marTavs da amowmebs riskTan dakavSirebul Sesabamis 

gadawyvetilebebs, maT Soris da ara mxolod: makroekonomikuri da garemosdacviTi 

riskebi, saerTo kontrolirebadi garemo, xeliT da mowyobilobiT marTva, ganzrax an 

araganzrax Secdomebis riski, TaRliTobis rikis an aqtivebis arasworad warmoCenis 

riski, informaciis usafrTxoeba, fulis gaTeTrebi winaaRmdeg brZola, sainformacio 

teqnologiuri riskebi, sxva. 

mmarTveli sabWo 

mmarTveli sabWo pasuxismgebelia riskis mTlian monitoringze jgufis farglebSi, 

regularulad davalebebis gadacemiT, sxvadasxva aRmasrulebeli komitetebis SeqmniT, 

riskis marTvis politikisa da procedurebis, aseve Sesabamisi saxelmZRvanelo 

miTiTebebis da maTi ganxorcielebisa da Sesabamisi departamentebisa da komitetebis 

SeqmniT. 

bankis aqtivisa da valebulebis marTvis komiteti 

bankis aqtivisa da valdebulebis marTvis komiteti (ALCO) aris riski marTvis mTavari 

organo. is pasuxismgebelia bankis aqtivebisa da valdebulebebis, da maTTan 

dakavSirebul yvela riskis marTvaze. is aseve pasuxismgebelia dafinansebaze, kapitaluri 

adekvaturobis riskze, likvidurobis riskebsa da bankis marketingul riskebze. 

Sida auditi 

jgufis farglebSi riskis marTvis procesebi mowmdeba yovelwliurad Sida auditis 

mier, romelic amowmebs rogorc procedurebis adeqvaturobas, ise jgufis 

procedurebTan Sesabamisobas. Sida auditi ganixilavs xelmZRvanelobasTan yvela 

Sefasebis Sedegs, angariSebs da rekomendaciebs auditis komitetis mimarT 

riskebis Sefasebisa da angariSgebis sistemebi 

bankis riskebis Sefaseba xorcieldeba im meTodis gamoyenebiT, romelic iTvaliswinebs 

Cveulebriv viTarebaSi warmoqmnil mosalodnel danakargebsa da gauTvaliswinebel 

96




(aTas larSi) 

zarals, romelic fasdeba warsulSi warmoSobili zaralis statistikuri monacemebis 

safuZvelze. modeli iyenebs albaTobas istoriul gamocdilobaze dayrdnobiT, romelic 

koreqtirebulia ekonomikuri garemos gaTvaliswinebiT. jgufi ganixilavs sam sxvadasxva 

scenars romlidanac erT-erTi aris sabaziso scenari( prognozireba normaluri biznes 

garemos SemTxvevaSi), danarCeni ori ki aris problematuri da Zalian cudi scenarebi, 

rodesac faqtobrivad adgili aqvs iseT eqstremalur movlenebs, romlebic ar unda 

damdgariyo. 

.31. riskebis marTva (gagrZeleba) 

riskebis monitoringi da kontroli upiratesad xorcieldeba bankis mier dadgenili 

limitebis safuZvelze. aRniSnuli limitebi asaxavs rogorc bankis biznes strategiasa 

da sabazro pirobebs, aseve bankisaTvis misaRebi riskis dones, SerCeuli dargebis 

xazgasmiT. garda amisa, banki akontrolebs da afasebs riskis moculobas TiToeuli 

saxis risksa da saqmianobasTan mimarTebaSi. 

nebismier saqmianobasTan dakavSirebuli informaciis Semowmeba xdeba analizis, 

kontrolisa da adreuli riskebis identificirebis mizniT. aRniSnuli informaciis da 

axsna-ganmartebebis wardgena xdeba mmarTvelTa sabWosaTvis da TiToeuli ganyofilebis 

xelmZRvanelisaTvis. angariSi moicavs iseT sakiTxebs, rogorebicaa agregirebuli 

sakredito riski, limitebTan dakavSirebuli gamonaklisebi, likvidobis koeficientebi 

da riskTan dakavSirebuli cvlilebebi. zeda rgolis xelmZRvaneli personali 

kvartalurad afasebs sakredito zaralebis rezervis adeqvaturobas. kvartalSi erTxel 

direqtorTa sabWos egzavneba dawvrilebiTi angariSi, romelic moicavs jgufis riskebis 

Sefasebisa da gansazRvrisaTvis aucilebel informacias. 

bankSi TiToeul rgols egzavneba specialuri angariSi, riskebis Sesaxeb detaluri, 

aucilebeli da ganaxlebuli informaciis xelmisawvdomobis uzrunvelyofis mizniT. 

yoveldRiurad direqtorTa sabWo da bankis Sesabamisi TanamSromlebi msjeloben 

sabazro limitebis gamoyenebis, qonebrivi investiciebis da likvidurobis, aseve, sxva 

riskebis Sesaxeb. 

riskis Semcireba 

jgufis riskebis marTvis strategiis nawils warmoadgens finansuri instrumentebis 

gamoyeneba saprocento ganakveTis da valutis kursis cvlilebaTa Sedegad warmoqmnili 

riskebis, kapitalis riskis, sakredito riskisa da prognozirebadi operaciebis Sedegad 

warmoqmnili riskebis marTvis mizniT. 

sakredito riskis Semcirebis mizniT, jgufi aqtiurad iyenebs uzrunvelyofas (ufro 

detaluri informacia ixileT qvemoT). 

Warbi riskis koncentracia 

riskis koncentracias adgili aqvs maSin, rodesac SeTanxmebuli mxareebi CarTulni arian 

msgavs biznes saqmianobaSi, saqmianobas ewevian erTsa da imave geografiul regionSi, an 

aqvT msgavsi ekonomikuri mdgomareoba da ekonomikuri, politikuri da sxva cvlilebebi 

Tanabar uaryofiT gavlenas axdens saxelSekrulebo valdebulebebis Sesrulebis unarze. 

koncentracia miuTiTebs imaze, rom jgufi SedarebiT mgrZnobiare iqneba konkretul 

sferoSi Tu geografiul nawilSi mimdinare cvlilebebis mimarT. 

Warbi riskis koncentraciis Tavidan acilebis mizniT, jgufis politika da procedurebi 

moicavs specialur instruqciebs diversificirebul portfelTan dakavSirebiT. 

identificirebuli sakredito riskis koncentraciis kontroli da marTva Sesabamisad 

xdeba. 

97




(aTas larSi) 

sakredito riski 

jgufis sakredito riski dgeba jgufis SesaZlo zaralis SemTxvevaSi, Tu es zarali 

gamowveulia meore mxaris mier xelSekrulebiT nakisri valdebulebebis 

SeusruleblobiT. jgufi marTavs da akontrolebs sakredito riskebs, im riskebis 

moculobaze kontrolis dawesebiT, romelTa miRebac surs individualuri SeTanxmebuli 

mxareebisaTvis, aseve geografiuli da dargobrivi koncentraciisaTvis, amgvari riskebis 

gavlenis monitoringis meSveobiT. 

31. riskebis marTva (gagrZeleba) 

jgufSi danergilia sakredito xarisxis ganxilvis procedura, raTa droulad moxdes 

SeTanxmebuli mxareebis kreditunarianobis SesaZlo cvlilebis identificireba. 

aRniSnuli ganxilva exeba Cveulebriv uzrunvelyofasac. sakredito riskis 

klasificirebis sistemis gamoyenebiT, dawesebulia limitebi SeTanxmebuli mxarisaTvis, 

riTac xdeba TiToeuli SeTanxmebuli mxarisaTvis sakredito reitingis miniWeba. 

sakredito reitingebis gadaxedva regularulad xdeba. sakredito xarisxis ganxilvis 

procesi banks saSualebas aZlevs Seafasos riskiT gamowveuli potenciuri zarali da 

miiRos saTanado zomebi. 

warmoebuli finansuri instrumentebi 

warmoebuli finansuri instrumentebidan warmoSobili sakredito riski nebismier dros 

exeba mxolod pozitiur samarTlian Rirebulebas, rogorc es asaxulia sabalanso 


sakredito valdebulebebis riski 

jgufi momxmarebels aZlevs garantias, romlis Tanaxmad, jgufma SesaZloa klientis 

saxeliT gadaixados Tanxebi. aRniSnuli Tanxebis miReba xdeba momxmarebelTagan 

akreditivis pirobebis safuZvelze. am SemTxvevaSi, banki dgas sesxebTan dakavSirebuli 

analogiuri riskebis winaSe da maTi Semcireba xdeba kontrolis identuri 

procedurebisa da politikis Sesabamisad. 

qvemoT moyvanilia sabalanso angariSgebis komponentebis maqsimaluri sakredito riski, 

warmoebuli finansuri instrumentebis CaTvliT. maqsimaluri riski jamurad aris 

naCvenebi, urTierTCaTvlis da uzrunvelyofis xelSekrulebebidan gamomdinare 

Semcirebamde. 

mTliani maqsimaluri riski 


fuli da fulis eqvivalentebi (salaroSi 

fuladi saxsrebis naSTis garda) 

7 465,730 449,835 203,028 

moTxovnebi sakredito dawesebulebebis 

mimarT 

8 289,530 116,469 64,620 

klientebze gacemuli sesxebi 9 2,553,442 2,351,697 1,661,331 

moTxovnebi finansuri ijaridan 

sainvesticio fasiani qaRaldebi: 

10 62,919 14,419 16,896 

-gasayidad arsebuli 11 408,075 285,628 6,990 

-dafarvis vadamde flobili 11 – 21 249,196 

sxva aqtivebi- warmoebuli finansuri 

aqtivebi 

18 36,823 2,933 1,129 

3,816,519 3,221,002 2,203,190 

98




(aTas larSi) 

pirobiTi finansuri valdebulebebi 22 628,702 546,323 288,766 

mTliani sakredito riski 4,445,221 3,767,325 2,491,956 

rodesac finansuri instrumenti asaxulia samarTliani RirebulebiT, zemoT naCvenebi 

Tanxebi warmoadgens mimdinare sakredito risks, Tumca ara im maqsimalur risks, 

romelic SesaZloa warmoiSvas momavalSi Rirebulebebis cvlilebis gamo. 

finansuri instrumentis TiToeuli tipisaTvis, maqsimaluri sakredito riskis Taobaze 

ufro detaluri informacia mocemulia konkretul SeniSvnebSi. uzrunvelyofisa da 

riskis Semcirebis meTodebis efeqti naCvenebia qvemoT. 

sakredito xarisxi finansuri aqtivebis tipebis mixedviT 

finansuri aqtivebis sakredito xarisxis marTva xdeba jgufis Sida sakredito 

reitingebiT. qvemoT moyvanilia aqtivebis tipebis sakredito xarisxi, 

sabalanangariSgebis sesxebTan dakavSirebul muxlebTan mimarTebaSi, jgufis sakredito 

sistemaze dayrdnobiT 


moTxovnebi sakredito 

dawesebulebebis mimarT 

SeniSvna 

arc vadagadacilebuli da arc 

gaufasurebuli 

standardarastantulidartuli reitingi reitingi 

maRali 

reitingi 

vadagadacilebuli 

an 

individualu 

rad 

gaufasurebu 

li 

jami 

8 289,530 – – – 289,530 

klientebze gacemuli sesxebi: 9 

korporaciuli sesxebi 1,030,959 75,009 37,888 219,202 1,363,058 

samomxmareblo sesxebi 344,593 12,872 1,477 32,055 390,997 

ipoTekuri sesxebi 469,374 13,517 1,224 32,618 516,733 

mikro sesxebi 306,124 5,031 1,494 5,917 318,566 

oqros giravnobiT datvirTuli 

sesxebi 

78,785 – – – 78,785 

2,229,835 106,429 42,083 289,792 2,668,139 

moTxovnebi finansuri ijaridan 10 57,647 4,222 913 577 63,359 


gasayidad arsebuli 11 408,075 – – – 408,075 

408,075 – – – 408,075 

sul 2,985,087 110,651 42,996 290,369 3,429,103 

99




(aTas larSi) 





SeniSvna 


gaufasurebuli 

standardarastantulidartuli maRali 

reitingi 

reitingi reitingi 


an 

individualu 

rad 

gaufasurebu 

li 

jami 

8 115,622 847 – – 116,469 


korporaciuli sesxebi 924,320 254,675 42,449 203,106 1,424,550 

samomxmareblo sesxebi 334,430 13,841 703 34,641 383,615 


mikro sesxebi 220,820 4,317 3,636 9,689 238,462 


66,749 – – – 66,749 

sesxebi 

sxva 2,168 696 7 1,200 4,071 

1,872,961 287,418 56,046 310,808 2,527,233 

moTxovnebi finansuri ijaridan 10 10,533 311 872 3,291 15,007 


gasayidad arsebuli 11 285,628 – – – 285,628 

dafarvis vadamde flobili 11 21 – – – 21 

285,649 – – – 285,649 

sul 2,284,765 288,576 56,918 314,099 2,944,358 




SeniSvna 


gaufasurebuli 

maRali 

reitingi 

standardtuli 

reitingi 

arastandartuli 

reitingi 


an 

individualu 

rad 

gaufasurebu 

li 

jami 

8 63,703 917 – – 64,620 


korporaciuli sesxebi 447,481 122,983 94,215 275,135 939,814 

samomxmareblo sesxebi 267,593 26,133 9,772 83,917 387,415 


mikro sesxebi 76,003 9,506 6,884 7,588 99,981 


sesxebi 

62,829 – – – 62,829 

sxva – 3,221 352 1,668 5,241 

1,081,671 188,591 113,138 444,417 1,827,817 

moTxovnebi finansuri ijaridan 10 7,913 11,441 115 4,571 24,040 


gasayidad arsebuli 11 6,172 – – 818 6,990 

dafarvis vadamde flobili 11 249,196 – – – 249,196 

255,368 – – 818 256,186 

sul 1,408,655 200,949 113,253 449,806 2,172,663 

klientebze gacemuli vadagadacilebuli sesxebi moicavs sesxebs, romelTa 

vadagadacileba ramdenime dRes Seadgens. qvemoT mocemulia vadagadacilebuli sesxebis 

analizi vadianobis mixedviT. vadagadacilebuli sesxebis umravlesoba ar miiCneva 

gaufasurebulad. 

100




(aTas larSi) 

politikis Sesabamisad, jgufi unda flobdes saTanado da zust riskis reitingebs 

sakredito portfelTan mimarTebaSi. aRniSnuli moiTxovs Sesabamisi riskebis marTvas da 

sakredito riskebis Sedarebas yvela saxis saqmianobisaTvis, geografiuli regionebisa 

Tu produqciisaTvis. SeTanxmebuli mxaris riskis gazomvis miznebisTvis, reitingebis 

sistema moicavs finansur analizs. Sida reitingebi dayofilia kategoriebad, jgufis 

sareitingo politikaze dayrdnobiT. riskis reitingebis Sefaseba da ganaxleba 

regularulad xdeba. 

sakredito riskis Sefasebis politika im finansuri aqtivebisaTvis, romlebic arc 

vadagadacilebulia da arc individualurad gaufasurebuli, bankis mier ase 

ganisazRvreba: 

finansuri aqtivi, romelic arc 30 dReze metad vadagadacilebulia da arc 

individualurad gaufasurebuli, Sefasebulia maRali reitingis mqoned; 

finansuri aqtivi, romelic arc vadagadacilebulia da arc gaufasurebuli 

saangariSgebo TariRisTvis, magram istioriulad qonda 30 dReze meti vadagadacileba, 

Sefasebulia standartuli reitingis mqoned; 

finansuri aqtivi, romelic arc vadagadacilebulia da arc gaufasurebuli 

saangariSgebo TariRisaTvis, magram istoriulad 60 dReze metad vadagadacilebulad 

miiCneva, an Tu msesxebels gaaCnia damatebiTi 60 dReze metad vadagadacilebuli sesxi 

saangariSgebo TariRisaTvis, Sefasebulia arastandartuli reitingis mqoned. 

gadavadebuli, magram ara gaufasurebuli sesxebis vadianobis analizi finansuri aqtivebis tipebis 

mixedviT Semdegia 


momxmareblebze gacemuli sesxebi: 

30 dReze 

naklebi 

31-dan 60 

dRemde 

61-dan 

90 dRemde 

90 dReze 

meti jami 

samomxmareblo sesxebi 17,399 24 – – 17,423 

ipoTeka 8,345 645 56 1,300 10,346 

korporaciuli sesxebi 2,124 48 – 11,000 13,172 

mikro-sesxebi 425 – – – 425 

moTxovnebi finansuri ijaridan 332 47 – 43 422 

sul 28,625 764 56 12,343 41,788 



30 dReze 

naklebi 

31-dan 60 

dRemde 

61-dan 

90 dRemde 

90 dReze 

meti jami 

samomxmareblo sesxebi 12,538 11 3 93 12,645 

ipoTeka 6,967 1,387 275 1,956 10,585 

korporaciuli sesxebi 2,925 – 2,115 5,290 10,330 

mikro-sesxebi 503 6 128 – 637 

sxva – 144 84 – 228 

moTxovnebi finansuri ijaridan 1,212 – – 2,079 3,291 

sul 24,145 1,548 2,605 9,418 37,716 


30 dReze 

naklebi 

31-dan 60 

dRemde 

61-dan 

90 dRemde 

90 dReze 

meti jami 


samomxmareblo sesxebi 14,259 58 – 4 14,321 

korporaciuli sesxebi 12,057 1,124 2,841 28,509 44,531 

ipoTeka 3,502 57 – 16 3,575 

mikro-sesxebi 

sxva 

615 4 – 9 628 

101




(aTas larSi) 

moTxovnebi finansuri ijaridan 1,461 9 – – 1,470 

sul 31,894 1,252 2,841 28,538 64,525 


ixileT SeniSvna 9 da 10 ufro detaluri informaciisaTvis klientebze gacemuli 

sesxebis gaufasurebis xarjis rezervTan dakavSirebiT. 

jgufi konkretulad amowmebs sesxebis efeqturobas, romelTa dadaxda gadavadebulia 90 

dReze meti xniT. aseTi sesxis mTliani sabalanso Rirebuleba (e.i. sabalanso 

Rirebuleba nebismieri gaufasurebis daxmarebis gamoqviTvamde) moicavda 87,836 lars 

117,580 lar da, 139,954 lars Sesabamisad 2011, 2010 da 2009 wlebis 31 dekembrisTvis. 

finansuri aqtivebis sabalanso Rirebuleba, romlis pirobebic xelaxla SeTanxmebulia 

winamdebare cxrili gviCvenebs xelaxla SeTanxmebuli finansuri aqtivebis sabalanso 

Rirebulebas, tipebis mixedviT: 

2011 2010 2009 


korporaciuli sesxebi 108,730 263,163 473,845 

ipoTeka 7,453 4,386 38,137 

mikro-sesxebi 1,814 4,664 7,540 

samomxmareblo sesxebi 960 2,092 26,624 

sxva – – 11 

moTxovnebi finansuri ijaridan – 1,882 2,349 

sul 118,957 276,187 548,506 

gaufasurebis Sefaseba 

sesxis gaufasurebis SefasebisaTvis ZiriTadad saWiroa informacia imis Taobaze, aris 

Tu ara ZiriTadi Tanxa an procenti 150 dReze metad vadagadacilebuli, Tu arsebobs 

raime saxis cnobili sirTuleebi SeTanxmebuli mxaris fulad nakadebTan mimarTebaSi, 

Semcirda Tu ara sakredito reitingi an Tu dairRva xelSekrulebis Tavdapirveli 

pirobebi. gaufasurebis Sefaseba xdeba individualurad Sefasebuli rezervebis an 

koleqtiurad Sefasebuli rezervebis gaTvaliswinebiT. 

individualurad Sefasebuli rezervebi 

kreditebTan dakavSirebiT zaralis dafarvis rezervis gansazRvris mizniT jgufi 

ganixilavs yvela individualur mniSvnelovan kreditebs da axdens maT klasifikacias 

imis mixedviT isini individualurad aris gaufasurebuli Tu ar aris gaufasurebuli. 

am individualuri mniSvnelovani sesxebis rezervi, romelic Sefasdeba rogorc 

gaufasurebuli (ixileT gansazRvreba zemoT) ganisazRvreba dakavSirebuli sakredito 

riskis individualurad Sefasebisas saTanado sakredito reitingis miniWebiT. 

aramniSvnelovani sesxis rezervi, romelic gansazRvrulia rogorc individualurad 

gaufasurebuli (ixileT ganmarteba qvemoT) aseve fasdeba individualurad. danakargebis 

rezervi individualurad mniSvnelovani kreditebisTvis, romlebic gansazRvrulia 

rogorc individualurad argaufasurebuli Sefasebulia koleqtiuri Sefasebis meTodiT, 

romelic aRwerilia qvemoT. rezervis moculobis gansazRvrisas gaTvaliswinebuli 

punqtebi moicavs partnioris biznes gegmis mdgradobas, mis unars gamoasworos 

mdgomareoba finansuri sirTuleebis warmoqmnis SemTxvevaSi, gakotrebis SemTxvevaSi 

gansazRvruli qviTrebis da mosalodenli dividendebis gadaxdas, sxva finansuri 

102




(aTas larSi) 

daxmarebis xelmisawvdomobas da realizebad Rirebulebas mosalodneli fuladi 

saxsrebis nakadis vadebs da msesxebelis savalo momsaxurebis warsuls. gaufasurebis 

Sedegad danakargebi Sefasebulia TviToeul angariSgebis dRes, Tu gauTvaliswinebli 

garemoebebis ufro met yuradRebas ar moiTxovs. 

koleqtiurad Sefasebuli rezervebi 

rezervebis Sefaseba koleqtiurad xdeba im sesxebidan warmoSobili zaralisaTvis, 

romlebic individualurad ar aris arsebiTi (sakredito baraTebis, ipoTekuri sesxisa da 

uzrunvelyofis gareSe samomxmareblo sesxebis CaTvliT) da im sesxebisaTvis, romlebic 

individualurad arsebiTia, magram ar arsebobs individualuri gaufasurebis obieqturi 

safuZveli. rezervebis Sefaseba xdeba saangariSgebo TariRiT yvela calkeuli 

portfelisaTvis. 

koleqtiuri Sefaseba iTvaliswinebs gaufasurebas, romelic warmodgenili unda iyos 

portfelSi, imisda miuxedavad, arsebobs Tu ara individualuri gaufasurebis obieqturi 

safuZveli. gaufasurebis xarjis Sefasebisas mxedvelobaSi miiReba: portfelis 

istoriuli zarali, mimdinare ekonomikuri pirobebi, drois sxvaoba zaralis 

warmoSobasa da mis identificirebas Soris, individualuri gaufasurebis rezervis da 

gaufasurebis Semdgomi amoRebis gaTvaliswinebiT. xelmZRvaneloba gansazRvravs aRniSul 

periods, romelmac SesaZloa erTi weli Seadginos. Semdeg xdeba gaufasurebis rezervis 

gadaxedva sakredito marTvis samsaxuris mier, bankis zogad politikasTan SesabamisobaSi 

moyvanis mizniT. 

finansuri garantiebisa da akreditivebis Sefaseba da maTTvis rezervis Seqmna xdeba 

sesxebis analogiurad. 

103




(aTas larSi) 


jgufis aqtivebisa da valdebulebebis geografiuli koncentracia mocemulia qvemoT: 

aqtivebi: 

saqar- 

Tvelo 

OECD 


dsT da 

sxva ucxo 

qveynebi 

fuli da fulis eqvivalentebi 312,697 301,166 14,868 628,731 

moTxovnebi sakredito dawesebulebebis mimarT 282,353 387 6,790 289,530 

klientebze gacemuli sesxebi 2,508,545 – 44,897 2,553,442 


sainvesticio fasiani qaRaldebi 

59,479 – 3,440 62,919 

- gasayidad arsebuli 419,555 – 21 419,576 

yvela sxva aqtivebi 691,047 253 19,763 711,063 

valdebulebebi: 

4,273,676 301,806 89,779 4,665,261 

valdebulebebi 

meanabreTa winaSe 

2,514,541 108,337 112,344 2,735,222 

valdebulebebi sakredito dawesebulebebis winaSe 42,761 788,067 90,344 921,172 

yvela sxva valdebuleba 193,198 – 3,066 196,264 

2,750,500 896,404 205,754 3,852,658 

wminda sabalanso Rirebuleba 1,523,176 (594,598) (115,975) 812,603 

saqar- 

Tvelo OECD 

2010 2009 

dsT da 

sxva ucxo 

qveynebi jami 

saqar- 

Tvelo OECD 

jami 

dsT da 

sxva ucxo 

qveynebi jami 

aqtivebi: 

fuli da fulis eqvivalentebi 188,426 364,616 58,542 611,584 154,405 127,816 75,668 357,889 



91,715 14,538 10,216 116,469 39,447 12,664 12,509 64,620 

klientebze gacemuli sesxebi 2,135,962 8 215,727 2,351,697 1,520,174 – 141,157 1,661,331 



qaRaldebi 

10,036 – 4,383 14,419 8,927 – 7,969 16,896 

- gasayidad arsebuli 290,333 60 4,547 294,940 13,418 – 6,172 19,590 

- dafarvis vadamde flobili 21 – – 21 249,196 – – 249,196 

yvela sxva aqtivebi 498,175 9,508 108,109 615,792 455,769 8,056 80,082 543,907 

valdebulebebi: 

3,214,668 388,730 401,524 4,004,922 2,441,336 148,536 323,557 2,913,429 

valdebulebebi 

meanabreTa winaSe 

1,659,774 101,960 264,574 2,026,308 1,024,771 11,035 237,324 1,273,130 



145,398 962,691 30,838 1,138,927 20,102 899,651 8,862 928,615 

yvela sxva valdebuleba 135,794 4,232 6,320 146,346 85,588 8,958 18,721 113,267 

1,940,966 1,068,883 301,732 3,311,581 1,130,461 919,644 264,907 2,315,012 

wminda sabalanso Rirebuleba 1,273,702 (680,153) 99,792 693,341 1,310,875 (771,108) 58,650 598,417 

104




(aTas larSi) 


likvidobis riski da dafinansebis marTva 

likvidobis riski warmoadgens risks imisa, rom jgufi ver dafaravs mis finansur 

valdebulebebs vadis dadgomisas, Cveulebriv Tu rTul viTarebaSi. aRniSnuli riskis 

Semcirebis mizniT, xelmZRvanelobas mis ZiriTad depozitebTan erTad gaaCnia sxvadasxva 

dafinansebis wyaro. jgufi axdens aqtivebis likvidobasTan mimarTebaSi marTvas da 

samomavlo fuladi nakadebis da likvidobis yoveldRiur monitorings. aRniSnuli 

moicavs mosalodneli fuladi nakadebis Sefasebas da imgvari uzrunvelyofis arsebobas, 

romlis gamoyenebac, saWiroebis SemTxvevaSi SesaZlebeli iqneba damatebiTi 

dafinansebisaTvis. 

jgufi inarCunebs bazarze farTod kotirebul da diversificirebul sxvadasxva 

aqtivebis portfels, romelTa likvidaciac martivad aris SesaZlebeli fuladi 

nakadebis miznebisaTvis gauTvaliswinebel SemTxvevebSi. likvidobis miznebisTvis, jgufs 

SeuZlia sakredito xazebis gamoyeneba. damatebiT, jgufi flobs imgvar depozits 

(savaldebulo rezervi) seb-Si, romlis moculoba damokidebulia mozidul saxsrebze. 

jgufis mier likvidurobis donis Sefaseba da marTva xdeba seb-is bankisadmi dawesebuli 

likvidurobis koeficientis safuZvelze. 31 dekembris mdgomareobiT, aRniSnuli 

koeficienti Semdegia: 

2011, % 2010, % 2009, % 

wlis ganmavlobaSi likvidobis saSualo 

koeficienti 

36.9% 35.6% 36.5% 

likvidobis maqsimaluri koeficienti 47.2% 44.5% 45.7% 

likvidobis minimaluri koeficienti 29.6% 29.1% 21.9% 

likvidobis saSualo koeficienti gamoiTvleba ss “saqarTvelos bankisaTvis”, rogorc 

dRiuri likvidurobis koeficientis wliuri saSualo ariTmetikuli, seb-is mier 

gansazrvruli likviduri aqtivebisa da valdebulebebis SefardebiT miRebuli 

koeficientis saxiT: 

likviduri aqtivebi moicavs fulsa da fulis ekvivalentebs da sxva aqtivebs, romlebic 

dauyovnebliv konvertirdebian fulad saxsrebSi. es aqtivebi iTvaliswinebs saqarTvelos 

mTavrobis mier gamoSvebul sainvesticio fasian qaRaldebs, aseve `seb~-is mier gacemul 

sadepozito serTifikatebs (likvidurobis saSualo koeficientis daangariSebisas 

gamoyenebuli valdebulebebis 10%-mde), sakredito dawesebulebebis mimarT moTxovnebis 

gareSe, bankTaSoris depozitebis, da/an mTavrobebis da ara-OECD qveynebis centraluri 

bankebis sasesxo fasiani qaRaldebis, dayadaRebul nostro angariSebze arsebuli 

Tanxebis, gaufasurebuli bankTaSoris depozitebis, `seb~-Tan savaldebulo rezervze 

arsebuli Tanxebis garda, romlebic dagiravebulia `seb~-idan miRebuli sesxebis gamo. 

valdebulebebi - moicavs saerTo valdebulebebis Tanxas da garebalansur 

valdebulebebs, romlebic ar moicavs subordinirebul sesxebs. im valdebulebebs, 

romlebic dafarul unda iqnas angariSgebis TariRidan eqvsi Tvis vadaSi, finansur 

garantiebs da akreditivebs, romlebic srulad aris uzrunvelyofili fuladi 

saxsrebiT bankSi, ucxour valutaSi ganxorcielebuli operaciebidan gamomdinare 

valdebulebebs. likvidurobis koeficientis maqsimaluri da minimaluri ganakveTebi 

aRebulia saTanado saangariSgebo wlebis istoriuli monacemebidan. 

jgufi aseve marTavs finansuri aqtivebisa da finansuri valdebulebebis vadebSi 

SeTanxmebas da awesebs maqsimalur limits uaryofiT sxvaobaze bankis mTlian 

avtonomiur maregulirebel kapitalTan SedarebiT, romelic gaangariSdeba saqarTvelos 

105




(aTas larSi) 

erovnuli bankis regulaciis Sesabamisad. Sefardebebi Sefasebulia da mowmdeba 

yovelTviurad da dardeba dadgenil limitebs. gadaxvevis SemTxvevaSi ALCO ganixilavs 

da amtkicebs cvlilebis strategiebs/RonisZiebebs. 


likvidobis riski da dafinansebis marTva (gagrZeleba) 

qvemoT mocemulia finansuri valdebulebebis vadianobis parametrebi 2009 wlis 31 

dekembris mdgomareobiT, sakontraqto aradiskontirebuli dafarvebis valdebulebaze 

dayrdnobiT. dafarvebisaTvis, romlebic eqvemdebareba Setyobinebas, moiazreba, rom 

Setyobineba myisierad moxda. Tumca, banki elis, rom meanabreTa umetesi nawili ar 

moiTxovs dafarvas yvelaze adreuli SesaZlo TariRiT da cxrili ar asaxavs 

mosalodnel fulad nakadebs, rogorc es naCvenebia bankis depozitis momsaxurebis 

istoriaSi. 



3 Tveze 

naklebi 

3-dan 12 

Tvemde 

1-dan 5 

wlamde 

5 wlis 

Semdgom 

valdebulebebi meanabreTa winaSe 1,908,942 654,219 236,243 13,543 2,812,947 



195,670 

122,709 499,370 434,038 1,251,787 

sxva valdebulebebi 26,926 53,099 19,783 – 99,808 

mTliani ara-diskontirebuli 


2,131,538 

830,027 755,396 447,581 4,164,542 


2010 wlis 31 dekembris mdgomareobiT 

3 Tveze 

naklebi 

3-dan 12 

Tvemde 

1-dan 5 

wlamde 

5 wlis 

Semdgom 

valdebulebebi meanabreTa winaSe 1,394,442 528,346 153,963 8,859 2,085,610 



151,404 

145,753 780,504 530,547 1,608,208 

sxva valdebulebebi 8,049 33,571 15,649 4,949 62,218 

mTliani ara-diskontirebuli 


1,553,895 

707,670 950,116 544,355 3,756,036 


2009 wlis 31 dekembris mdgomareobiT 

3 Tveze 

naklebi 

3-dan 12 

Tvemde 

1-dan 5 

wlamde 

5 wlis 

Semdgo 

m 

valdebulebebi meanabreTa winaSe 899,697 333,374 83,097 7,624 1,323,792 



76,468 86,724 726,243 511,713 1,401,148 

sxva valdebulebebi 18,079 22,921 7,468 3,856 52,324 

mTliani ara-diskontirebuli finansuri 

valdebulebebi 

994,244 443,019 816,808 523,193 2,777,264 

winamdebare cxrilSi mocemulia jgufis pirobiTi finansuri valdebulebebis 

sakontraqto vadebi:. 

3 Tveze 

naklebi 

3-dan 12 

Tvemde 

1-dan 5 

wlamde 

5 wlis 

Semdgom 

31 dekemberi 2011 335,550 267,617 103,870 12,978 720,015 

31 dekemberi 2010 245,684 290,662 76,464 24,816 637,626 

31 dekemberi 2009 98,735 108,050 149,063 27,285 383,133 

jgufi ar elis, rom yvela pirobiTi valdebuleba iqneba dafaruli vadis amowurvamde. 

sul 

sul 

sul 

sul 

106




(aTas larSi) 

vadianobis analizi ar asaxavs mimdinare angariSebis istoriul stabilurobas. 

istoriulad, maTi likvidacia ufro grZelvadian periodSi moxda, vidre es naCvenebia 

cxrilebSi zemoT. aRniSnuli naSTebi CarTulia 3 Tveze naklebi vadis mqone 

valdebulebebSi. 


likvidobis riski da dafinansebis marTva (gagrZeleba) 

meanabreTa winaSe valdebulebebSi CarTulia fizikuri pirebis vadiani depozitebi. 

saqarTvelos kanonmdeblobis Sesabamisad, bankma amgvari depoziti unda dafaros 

depozitoris moTxovnisas. ixileT SeniSvna 20. 

sabazro riski 

sabazro riski warmoiSoba finansuri instrumentis samarTliani Rirebulebis an 

samomavlo fuladi nakadebis cvlilebis Sedegad, rac gamowveulia saprocento 

ganakveTebis, savaluto kursis da kapitalis fasTa ryeviT. jgufi sabazro risks yofs 

savaWro an arasavaWro portfelebTan mimarTebaSi. maTi marTva da monitoringi xdeba 

mgrZnobelobis analizis gamoyenebiT. ucxouri valutis koncentraciis garda, jgufs ar 

gaaCnia sabazro riskis mniSvnelovani koncentracia. 

saprocento ganakveTis riski 

saprocento ganakveTis riski aris finansuri instrumentis samarTliani Rirebulebis an 

momavali fuladi nakadebis meryeobis riski, saprocento ganakveTis cvlilebis gamo. 

winamdebare cxrilSi aRwerilia saprocento ganakveTebis gonivruli SesaZlo 

cvlilebebis mgrZnobeloba, maSin, rodesac yvela sxva komponenti ucvlelia, jgufis 

mogeba-zaralis angariSgebasTan mimarTebaSi. 

mogeba-zaralis angariSgebis mgrZnobeloba warmoadgens saprocento ganakveTebis 

savaraudo cvlilebebis gavlenas erTi wlis wminda saprocento Semosavalze, cvalebadi 

ganakveTis mqone arasavaWro finansur aqtivebsa da valdebulebebze dayrdnobiT, 2011 

wlis 31 dekembris mdgomareobiT.. 2011, 2010 da 2009 wlebis 31 dekembrisTvis 

mgrZnobelobis analizma ar gamoavlina mniSvnelovani potenciuri gavlena jgufis 

kapitalze. 

valuta 

sabaziso punqtis 

zrda 


wminda saprocento 

Semosavlis mgrZnobeloba 


sruli Semosavlis 

mgrZnobeloba 


lari 0.42% 101 – 

aSSd 0.02% 51 – 

valuta 


Semosavlis 

mgrZnobeloba 



mgrZnobeloba 

sabaziso punqtis zrda 



lari -0.42% (101) – 

aSSd -0.02% (51) – 

valuta 


zrda 

2010 



2010 


mgrZnobeloba 

2010 

evro 0.01% 1 – 

107




(aTas larSi) 

aSS dolari 0.00% 46 – 

ukrainuli grivna 0.75% – 34 


Semosavlis 

mgrZnobeloba 


mgrZnobeloba 

2010 

valuta sabaziso punqtis zrda 

2010 

2010 

evro -0.01% (1) – 

aSS dolari -0.00% (46) – 

ukrainuli grivna -0.75% – (34) 

valuta 


zrda 

2009 



2009 


mgrZnobeloba 

2009 

evro 0.10% 2 – 

aSS dolari 0.10% 186 – 

ukrainuli grivna 0.75% – 52 


Semosavlis 

mgrZnobeloba 


mgrZnobeloba 

2009 

valuta sabaziso punqtis zrda 

2009 

2009 

evro -0.10% (2) – 

aSS dolari -0.10% (186) – 

ukrainuli grivna -0.75% – (52) 

savaluto riski 

savaluto riski aris finansuri instrumentis Rirebulebis meryeobis riski, savaluto 

gacvliTi kursis cvlilebebis gamo. mmarTvelma sabWom daawesa limitebi ganTavsebul 

saxsrebze valutebis mixedviT, seb-is instruqciebze dayrdnobiT, xolo aRniSnulis 

monitoringi yoveldRiurad xorcieldeba. 

winamdebare cxrilSi mocemulia jgufis arasavaWro fuladi aqtivebi da valdebulebebi 

da dagegmili fuladi nakadebi, ZiriTad valutebSi, 2009 wlis 31 dekembris 

mdgomareobiT. cxrilSi gaangariSebulia valutebis gonivruli SesaZlo dinamikis efeqti 

larTan mimarTebaSi, maSin rodesac mogeba-zaralis angariSgebis yvela sxva komponenti 

ucvleli rCeba (valutisadmi mgrZnobiare arasavaWro fuladi aqtivebisa da 

valdebulebebis samarTliani Rirebulebis gamo). efeqti kapitalze ar gansxvavdeba 

efeqtisagan mogeba-zaralis angariSgebaze. uaryofiTi Tanxebi cxrilSi asaxavs 

potenciur wminda klebas kapitalsa Tu mogeba-zaralis konsolidirebul angariSgebaSi, 

maSin rodesac dadebiTi Tanxebi asaxavs potenciur wminda matebas. 2011, 2010 da 2009 

welebSi mgrZnobelobis analizi ar asaxavs jgufis kapitalSi mniSvnelovan potenciuri 

efeqts. 

valuta 

cvlileba 

valutis 

kursSi 

%-Si 

zemoqmedebaSemosavalzedabegvramde 

zemoqmezemoqmezemoqmedebazemoqmedebadeba 

cvlileba Semosadeba cvlileba Semosa- 

srul valutis valze srul valutis valzeSemosav- 

kursSi dabegSemosav- kursSi dabeglebze 

%-Si vramdelebze %-Si vramde 

2011 2010 2009 

zemoqmedeba 

srul 

Semosavlebze 

evro 4.4% 2,392 – 0.8% 234 – 12.7% (3,792) – 

funti 3.2% 13 – 0.8% 1 – 16.1% 63 – 

rubli 5.1% 25 – 0.7% 3 – 0.3% (1) – 

grivna 1.3% 1 – 0.3% – 91 0.3% – 228 

aSSd 1.3% 1,927 – 0.3% 323 – 1.3% (669) – 

franki 4.6% 1,710 – – – – – – – 

az. manaT 1.3% 2 – – – – – – – 

Turq. 

lira 

5.1% 17 – – – – – – – 

bel.rub 23.6% 150 – – – – – – – 

108




(aTas larSi) 


sabazro riski 

jgufi aseve axorcielebs ucxouri valutis sarisko Tanxebis riskebis monitorings da 

adgens limitebs saqarTvelos erovnuli bankis mTlian maregulirebel kapitalze. 

faqtobrivi sarisko Tanxebi da limitebi mowmdeba da fasdeba yovelTviurad ALCO-s 

mier. 

winaswari gadaxdebis riski 

winaswari gadaxdebis riski warmoadgens jgufis finansuri zaralis risks, rodesac 

jgufis klientebi an kontragentebi ixdian, an Txouloben gadaxdas mosalodnel 

periodze adre an gvian, magaliTad, fiqsirebuli ganakveTis ipoTeka saprocento 

ganakveTebis Semcirebis SemTxvevaSi. 

jgufi iyenebs regresiis modelebs, raTa dagegmos saavanso gadaxdis cvalebadi doneebis 

zemoqmedeba mis wminda saprocento Semosavalze. modeli ganasxvavebs gadaxdis 

sxvadasxva mizezebs (mag. Tanxebis gadanawileba, refinansireba da ganmeorebiT 

molaparakeba) da iTvaliswinebs nebismieri saavanso gadaxdis jarimebis zemoqmedebas. 

modeli Semowmebulia faqtiur SedegebTan mimarTebaSi. 

31 dekembers dasrulebuli wlisTvis mogebaze (zaralze) zemoqmedeba, gadasaxadi 

daqviTvamde, aseve kapitalze zemoqmedeba Semdegia 

zemoqmedeba 

wminda 

saprocento 

Semosavalze 

zemoqmedeba 

srul 

Semosavlebze, 

2011 (5,416) – 

2010 (67,605) – 

2009 (14,557) – 

saoperacio riski 

saoperacio riskidan warmoSobili zarali gamomdinareobs sistemebis mwyobridan 

gamosvlidan, meqanikuri Secdomebidan, TaRliTobidan Tu sxva gareSe faqtorebidan. 

saTanado kontrolis ararsebobis SemTxvevaSi, saoperacio riskma SesaZloa uaryofiTi 

gavlena iqonios reputaciaze, gamoiwvios iuridiuli sanqciebi an finansuri zarali. 

bankis mier yvela saoperacio riskis aRmofxvra ar iqneba SesaZlebeli, Tumca efeqturi 

iqneba, Tu banki marTavs riskebs kontrolis sistemisa da potenciuri riskebis 

monitoringisa da reagirebis meSveobiT. kontrolis sistema Sida auditis gamoyenebasTan 

erTad unda moicavdes movaleobaTa saTanadod ganawilebas, xelmisawvdomobis, 

avtorizaciisa da Sejerebis procedurebs, TanamSromelTa swavlebisa da Sefasebis 

procesebs. 

saoperacio garemo 

rogorc ganviTarebad bazars, saqarTvelos ar gaaCnia Zlier ganviTarebuli biznesisa da 

maregulirebeli infrastruqtura, romelic, rogorc wesi, axasiaTebs ufro momwifebul 

sabazro ekonomikas. saqarTveloSi operireba dakavSirebulia iseT riskebTan, romlebic, 

rogorc wesi, ar arsebobs ganviTarebul bazrebze (im riskis CaTvliT, rom lari ar 

warmoadgens Tavisuflad konvertirebad valutas qveynis gareT, aseve mxedvelobaSia 

misaRebi ganuviTarebeli sasesxo da kapitalis bazrebi). bolo ramdenime wlis 

ganmavlobaSi, saqarTvelos mTavrobam mniSvnelovani nabijebi gadadga sabanko, 

iuridiuli, sagadasaxado da mareuliebeli sistemebis CamoyalibebisaTvis saWiro 

109




(aTas larSi) 

reformebTan mimarTebaSi. aRniSnuli gulisxmobs sakanonmdeblo siaxleebs (axali 

sagadasaxado kodeqsi da saproceso kanonmdebloba). xelmZRvanelobis azriT, aRniSnuli 

nabijebi xels uwyobs saqarTveloSi biznes riskebis Semcirebas. 

aRniSnuli tendencia romelic miznad isaxavs arsebuli biznes garemos gaumjobesebas da 

mosalodnelia rom momavalSic gagrZeldeba. saqarTvelos ekonomikis samomavlo 

stabiluroba mniSvnelovnad aris damokidebuli zemoTxsenebul reformebze da 

saqarTvelos mTavrobis mier gatarebuli finansuri Tu ekonomikuri zomebis 

efeqturobaze. Tumca, saqarTvelos ekonomika mgrZnobiarea msoflioSi sabazro da 

ekonomikuri pirobebis gauaresebis mimarT. 

32. finansuri instrumentebis samarTliani Rirebuleba 

samarTliani RirebulebiT registrirebuli finansuri instrumentebi 

finansuri instrumentebis samarTliani Rirebulebis gansazRvrisa da warmodgenisTvis 

jgufi iyenebs qvemoT warmodgenil ierarqias Sefasebis meTodiT: 

• done 1: kvotirebuli (arakoreqtirebuli) fasebi aqtiur bazrebze identuri 

aqtivebisa da valebulebebisTvis 

• done 2: meTodebi, romliTac SesaZlebelia yvela im informaciaze dakvirveba, 

romelic pirdapir Tu arapirdapir mniSvnelovan gavlenas axdens registrirebul 

samarTlian Rirebulebaze 

• done 3: meTodebi, romelic iyenebs informacias, romelic mniSvnelovan gavlenas 

axdens registrirebul samarTlian Rirebulebaze, romelic ar emyareba dakvirvebas 

daqvemdebarebul sabazro monacemebs. 

qvemoT warmodgenili cxrili gviCvenebs samarTliani Rirebulebis ierarqiis doneebis 

mixedviT registrirebuli finansuri instrumentebis analizs. 


sainvesticio fasiani qaRaldebi-gasayidad 

arsebuli 

sxva aqtivebi – warmoebuli finansuri aqtivebi 

sxva aqtivebi – sakuTari savaWro fasiani 

qaRaldebi 


sxva valdebulebebi – warmoebuli finansuri 

valdebulebebi 


done 1 done 2 done 3 

sul 

31 

dekemberi 


346 415,196 4,034 419,576 

63 36,760 – 36,823 

1,115 – – 1,115 

1,524 451,956 4,034 457,514 

5,925 9,931 – 15,856 

5,925 9,931 – 15,856 


sul 

31 dekemberi 

2010 

sainvesticio fasiani qaRaldebi-gasayidad 

arsebuli 

4,958 284,573 5,409 294,940 

sxva aqtivebi – warmoebuli finansuri aqtivebi 2,250 683 – 2,933 

110




(aTas larSi) 

sxva aqtivebi – sakuTari savaWro fasiani 

qaRaldebi 


sxva valdebulebebi – warmoebuli finansuri 

valdebulebebi 


sainvesticio fasiani qaRaldebigasayidad 

arsebuli 

sxva aqtivebi – warmoebuli finansuri 

aqtivebi 

sxva aqtivebi – sakuTari savaWro 

fasiani qaRaldebi 


sxva valdebulebebi – warmoebuli 


1,218 – – 1,218 

8,426 285,256 5,409 299,091 

2,211 15,314 – 17,525 

2,211 15,314 – 17,525 


sul 

31 dekemberi 

2009 

4,320 11,005 4,265 19,590 

1,129 – – 1,129 

2,268 – – 2,268 

7,717 11,005 4,265 22,987 

288 7,172 – 7,460 

288 7,172 – 7,460 

qvemoT warmodgenilia im finansuri instrumentebis samarTliani Rirebulebis gansazRvris 

aRwera, romlebic registrirebulia samarTliani RirebulebiT Sefasebis meTodebis 

gamoyenebiT. es aRwera moicavs jgufis varaudebis Sefasebas, romelsac bazris monawile 

gaakeTebs instrumentebis Sefasebis dros. 

warmoebulebi 

warmoebulebi, romelTa Sefaseba xdeba bazris dakvirvebas daqvemdebarebuli informaciis 

Sefasebis meTodebis gamoyenebiT, ZiriTadad aris saprocento svopebi, savaluto svopebi 

da forvarduli ucxouri savaluto kontraqtebi. yvelaze xSirad gamoyenebuli Sefasebis 

meTodebi moicavs forvardul fasebis gansazRvras da svop modelebs arsebuli 

Rirebulebis gaTvlebis gamoyenebiT. es modelebi moicavs sxvadsxva informacias, maT 

Soris partniorebis sakredito xarisxis, savaluto kursis `spotis” da forvarduli 

kursebisa da saprocento ganakveTebis mrudebs. 

gasayidad arsebuli savaWro fasiani qaRaldebi da sainvesticio fasiani qaRaldebi 

gasayidad arsebuli savaWro fasiani qaRaldebi da sainvesticio fasiani qaRaldebi, 

romelic fasdeba Sefasebis meTodis an faswarmoqmnis modelis gamoyenebiT, upirveles 

yovlis Sedgeba arakvotirebuli kapitalisa da savalo valdebulebebis saxiT 

gamoSvebuli fasiani qaRaldebisgan. es fasiani qaRaldebi fasdeba modelebis gamoyenebiT, 

romelic xandisxan moicavs mxolod bazarze dakvirvebas-daqvemdebarebul moncemebs da 

sxva SemTxvevebSi iyenebs rogorc dakvirvebas daqvemdebarebul, aseve ar daqvemdebarebul 

monacemebs. modelSi gamoyenebuli dakvirvebas ardaqvemdebarebuli informacia moicavs 

varaudebs investiciis mimRebis momavali finansuri saqmianobasTan, mis riskis profilTan 

dakavSirebiT, da ekonomikur varaudebs im samrewvelo da geografiuli iurisdiqciasTan 

dakavSirebiT, romelSic moqmedebs investiciis mimRebi 

me-3 doneSi operaciebi samarTliani RirebulebiT Sefasebuli finansuri instrumentebi 

111




(aTas larSi) 

qvemoT warmodgenili cxrili gviCvenebs samarTliani RirebulebiT registrirebuli me-3 

donis finansuri aqtivebisa da valdebulebebis wlis dasawyisSi da bolos Sedarebebs: 

1 

ianvars 

2009 

sxva 

aqtivebida 

n gadatana 

At 

1 January 

2010 

AFS 

fasiani 

qaRaldebi 

s Sesyidva 

31 

dekembers 

2010 

AFS 

fasiani 

qaRalde 

bis 

gayidva 

31 

dekembers 




qaRaldebi-gasayidad 

arsebuli – 4,265 4,265 1,144 5,409 (1,375) 4,034 

sul done 3 finansuri aqtivebi – 4,265 4,265 1,144 5,409 (1,375) 4,034 

sul sufTa done 3 finansuri 

aqtivebi – 4,265 4,265 1,144 5,409 (1,375) 4,034 

2011 wli 31 dekembers dasrulebuli wlis ganmavlobaSi ar momxdara finansuri 

instrumentebis samarTliani Rirebulebis ierarqiis 1 da me-2 donidan me-3 doneSi 

gadasvla. me-3 donis finansuri instrumentebis mogeba an zarali 2011 wlis 31 dekembers 

dasrulebuli wlis ganmavlobaSi Seadgenda nuls. 

mTavari varaudebis cvlilebis samarTliani RirebulebiT Sefasebuli me-3 donis 

finansuri instrumentebis samarTlian Rirebulebaze gavlena 

qvemoT warmodgenili cxrili gviCvenebs gavlenas me-3 donis instrumentebis samarTlian 

Rirebulebaze gonivruli SesaZlo alternatiuli varaudebis gamoyenebiT: 

sabalans 

o 

Rirebule 

ba 

gonivruli SesaZlo 

alternatiuli 

varaudebis efeqti 

sabalanso 

Rirebuleba 


alternatiuli 


sabalanso 

Rirebuleba 

2011 2010 2009 


alternatiuli 



sainvesticio 

fasiani 

qaRaldebi – 

gasayidad 

arsebuli 4,034 +/- 607 5,409 +/- 814 4,265 +/- 642 

imisTvis, rom ganesazRvra gonivruli SesaZlo alternatiuli varaudebi, jgufma 

ganaxorciela dakvirvebas ardaqvemdebarebuli mTavari modelis informaciis koreqtireba 

Semdegnairad: 

samarTlianobis mizniT, jgufma daaregulira EBITDA–is (procentebis, gadasaxadebis, 

amortizaciis, cveTis xarjebis gadaxdamdemogeba) jeradi savaraudo jeradis Sefasdebis 

10%-iT gazrdiT an SemcirebiT, romelic jgufis azriT eqceva gonivruli SesaZlo 

alterantiuli variantebis farglebSi EBITDA-s jeradebis safuZvelze, romelic 

gamoiyeneba Tanasworuflebiani monawileebis mimarT imave dargis imave geografiuli 

teritoriis farglebSi. 

112




(aTas larSi) 

32. finansuri instrumentebis samarTliani Rirebuleba (gagrZeleba) 

ara samarTliani RirebulebiT gadatanili finansuri aqtivebisa da valdebulebebis 

samarTliani Rirebuleba 

winamdebare cxrilSi mocemulia bankis finansur angariSgebaSi asaxuli finansuri 

instrumentebis SedarebiTi analizi sabalanso Rirebulebebisa da samarTliani 

Rirebulebebis mixedviT. cxrili ar asaxavs arafinansuri aqtivebisa da arafinansuri 

valdebulebebis samarTlian Rirebulebas.. 

sabalanso 

Rirebuleba 


samarTliani 

Rirebuleba 


uRiarebeli 

zarali 



fuli da fulis eqvivalentebi 628,731 628,731 – 

moTxovnebi sakredito dawesebulebebis mimarT 289,530 289,530 – 

klientebze gacemuli sesxebi 2,553,442 2,546,648 (6,794) 

moTxovnebi finansuri ijaridan 62,919 62,919 – 


valdebulebebi momxmareblebis mimarT 2,735,222 2,758,210 (22,988) 

valdebulebebi sakredito dawesebulebebis mimarT 921,172 921,172 – 

samarTliani Rirebulebis mTliani uRiarebeli cvlileba (29,782) 

sabalanso 

Rirebuleba 

2010 

samarTliani 

Rirebuleba 

2010 

uRiarebeli 

mogeba/zarali 

2010 

sabalanso 

Rirebuleba 

2009 

samarTliani 

Rirebuleba 

2009 

uRiarebeli 

zarali 

2009 


fuli da fulis eqvivalentebi 611,584 611,584 – 357,889 357,889 – 



116,469 116,469 – 64,620 64,620 – 

klientebze gacemuli sesxebi 2,351,697 2,319,388 (32,309) 1,661,331 1,621,779 (39,552) 


ijaridan 


qaRaldebi 

14,419 14,419 – 16,896 16,896 – 

- dafarvis vadamde flobili 21 21 – 249,196 249,196 – 


valdebulebebi 

momxmareblebis mimarT 



samarTliani Rirebulebis 

mTliani uRiarebeli 

cvlileba 

2,026,308 2,041,403 (15,095) 1,273,130 1,271,958 1,172 

1,138,927 1,138,927 – 928,615 928,615 – 

(47,404) (38,380) 

qvemoT aRwerilia im finansuri instrumentebis samarTliani Rirebulebis 

gansazRvrisaTvis gamoyenebuli meTodologia da daSvebebi, romlebic konsolidirebul 

finansur angariSgebaSi ar aris aRricxuli samarTliani RirebulebiT. 

aqtivebi, romelTa samarTliani Rirebuleba uaxlovdeba maT sabalanso Rirebulebas 

likviduri an moklevadiani (sam Tveze naklebi) finansuri aqtivebisa da finansuri 

valdebulebebisaTvis miiCneva, rom maTi sabalanso Rirebuleba uaxlovdeba samarTlian 

Rirebulebas. aRniSnuli daSveba aseve ZalaSia moTxovnamde depozitebisaTvis, Semnaxveli 

angariSebisaTvis konkretuli vadis gareSe da cvladi ganakveTis mqone finansuri 

instrumentebisaTvis. 

113




(aTas larSi) 

32. finansuri instrumentebis samarTliani Rirebuleba (gagrZeleba) 

fiqsirebuli ganakveTis mqone finansuri instrumentebi 

fiqsirebuli saprocento ganakveTis mqone depozitebis savaraudo samarTliani 

Rirebuleba efuZneba diskontirebul fulad nakadebs, aqtiuri fuladi bazris saprocento 

ganakveTebis gamoyenebiT sesxebisaTvis, romelTac gaaCniaT analogiuri sakredito riskebi 

da vada. kotirebuli sasesxo fasiani qaRaldebisaTvis, samarTliani Rirebulebis 

gaangariSeba xdeba kotirebuli sabazro fasdadebiT. im gamoSvebuli TamasuqebisaTvis, 

romelTaTvisac ar arsebobs kotirebuli sabazro fasi, gamoiyeneba diskontirebuli 

fuladi nakadebis meTodi, mimdinare saprocento ganakveTis wrfivze dayrdnobiT, romelic 

miesadageba darCenil vadas. 

33. finansuri aqtivebisa da valdebulebebis vadianobis analizi 

qvemoT mocemuli cxrili gviCvenebs finansuri aqtivebisa da valdebulebebis analizs, imis 

mixedviT, Tu rodis aris mosalodneli maTi amoReba an dafarva. jgufis sakontraqto aradiskontirebul 

sagadasaxado valdebulebebTan dakavSirebiT, ixileT SeniSvna 31 „riskebis 

marTva“. 



erTi 

wlis 

ganmavlobaSi 

erT 

welze 

meti sul 

fuli da fulis eqvivalentebi 628,731 – 628,731 

moTxovnebi sakredito dawesebulebebis mimarT 

277,448 12,082 289,530 

klientebze gacemuli sesxebi 1,231,077 1,322,365 2,553,442 

moTxovnebi finansuri ijaridan 16,767 46,152 62,919 


- gasayidad arsebuli 340,179 79,397 419,576 

sul 2,494,202 1,459,996 3,954,198 


valdebulebebi meanabreTa winaSe 2,536,761 198,461 2,735,222 

valdebulebebi sakredito dawesebulebebis winaSe 

265,121 656,051 921,172 

sul 2,801,882 854,512 3,656,394 

wminda (307,680) 605,484 297,804 


erTi 

wlis 

ganmavlobaSi 

2010 2009 

erT 

welze 

meti sul 

erTi 

wlis 

ganmavlobaSi 

erT 

welze 

meti sul 

fuli da fulis eqvivalentebi 611,584 – 611,584 357,889 – 357,889 

moTxovnebi sakredito dawesebulebebis 

mimarT 

107,707 8,762 116,469 60,121 4,499 64,620 

klientebze gacemuli sesxebi 1,191,914 1,159,783 2,351,697 655,906 1,005,425 1,661,331 

moTxovnebi finansuri ijaridan 8,828 5,591 14,419 12,466 4,430 16,896 


- gasayidad arsebuli 242,535 52,405 294,940 19,590 – 19,590 

– dafarvis vadamde flobili 21 – 21 249,196 – 249,196 

sul 2,162,589 1,226,541 3,389,130 1,355,168 1,014,354 2,369,522 

114




(aTas larSi) 


valdebulebebi meanabreTa winaSe 



sul 

1,881,371 144,937 2,026,308 1,198,357 74,773 1,273,130 

193,386 945,541 1,138,927 37,866 890,749 928,615 

sul 2,074,757 1,090,478 3,165,235 1,236,223 965,522 2,201,745 

wminda 87,832 136,063 223,895 118,945 48,832 167,777 

jgufis mier valdebulebebis vadis dadgomisas dafarvis unari damokidebulia aqtivebis 

ekvivalenturi odenobis realizaciis SesaZleblobaze. saqarTvelos bazarze mravali 

moklevadiani sesxi gaica vadis dadgomisas maTi ganaxlebis varaudiT. Sesabamisad, 

aqtivebis saboloo vada SesaZloa gansxvavdebodes zemoaRniSnuli analizisagan. garda 

amisa, aradiskontirebuli finansuri valdebulebebis analizi ar asaxavs mimdinare 

angariSebis istoriul stabilurobas. maTi likvidacia istoriulad ufro grZelvadian 

periodSi moxda, vidre es naCvenebia cxrilSi zemoT. es naSTebi zemoT cxrilSi Sesulia 

Tveze nakleb vadaSi gadasaxdel TanxebSi. 

. 

jgufis likvidobis ZiriTadi wyaroebia: 

• depozitebi; 

• sesxebi saerTasorisod aRiarebuli sakredito dawesebulebebidan; 

• gacemuli sesxi; 

• fasiani qaRaldebis gayidviT miRebuli Semosavali; 

• bankTaSoris sadepozito xelSekrulebebi; 

• sesxis ZiriTadi Tanxis dafarva; 

• saprocento mogeba; da 

• sagadasaxado da sakomisio Semosavali. 

2011 wlis 31 dekembris mdgomareobiT, depozitebma Seadgina 2,735,222 lars (2010: 2,026,308 

lari, 2009: 1,273,130 lari,) da warmoadgina jgufis mTliani valdebulebebis 71% (2010: 61%, 

2009: 55%). amgvari sesxebi kvlavac uzrunvelyofs jgufis dafinansebis umetes nawils, 

rogorc stabiluri dafinansebis wyaros. 2011 wlis 31 dekembris mdgomareobiT, 

valdebulebebi sxva sakredito dawesebulebebis winaSe Seadgens 921,172 lars (2010: 

1,138,927, 2009: 928,615 lari) da warmoadgens mTliani valdebulebebis 24% (2010: 34%, 2009: 

40%). 

xelmZRvanelobis azriT, likvidoba sakmarisia jgufis mimdinare moTxovnebis 

dasakmayofileblad. 

34. dakavSirebul mxareTa ganmartebiTi SeniSvnebi 

bass 24-is “dakavSirebul mxareTa ganmartebiTi SeniSvnebi” Sesabamisad, mxareebi 

dakavSirebulad moiazrebian, Tu erT mxares Seswevs unari gaakontrolos meore mxare an 

gavlena iqonios meore mxareze finansuri Tu saoperaco gadawyvetilebebis miRebasTan 

mimarTebaSi. dakavSirebul mxareTa urTierTobis gansazRvrisas, yuradReba eqceva ara 

mxolod iuridiul formas, aramed urTierTobis Sinaarssac. 

dakavSirebuli mxareebi SesaZloa awarmoebdnen operaciebs, romlebsac mxareebi 

Cveulebriv ar awarmoeben da maT Soris operaciebis pirobebi da Tanxebi SesaZloa 

gansxvavdebodes Cveulebriv mxareebs Soris arsebuli operaciebisgan. 

dakavSirebul mxareTa operaciebis dinamika, wlis bolos dasafari naSTebi da wlis 

Semosavali da xarji Semdegia: 

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(aTas larSi) 

mSobe 

li 

kompani 

a 

2011 2010 2009 

mokav- 

Sire 

sawarmoebi 

zeda rgolis 

mmarTveli 

personali 

mSobe 

li 

kompani 

a 

mokav- 

Sire 

sawarmoebi 

zeda rgolis 

mmarTveli 

personali 

mSobe 

li 

kompani 

a 

mokav- 

Sire 

sawarmoebi 

zeda rgolis 

mmarTveli 

personali 

sesxebi 1 ianvars, jamuri – 2,191 4,758 – 9,255 5,791 265 21,644 5,572 

wlis manZilze gacemuli sesxebi – 954 7,951 – 624 7,125 – 7,736 5,616 

sesxis dafarva wlis manZilze – (5,493) (6,663) – (707) (6,877) (265) (10,322) (8,633) 

sxva operaciebi – 2,652 512 – (6,981) (1,281) – (9,803) 3,236 

31 dekembers gadauxdeli sesxebi, 

jamuri 

– 304 6,558 – 2,191 4,758 – 9,255 5,791 

gamoklebuli: gaufasurebis rezervi 31 

dekembrisaTvis 

– 2 115 – (1,564) (119) – (870) (212) 

31 dekembers gadauxdeli sesxebi, wminda – 306 6,673 – 627 4,639 – 8,385 5,579 

sesxebi 1 ianvars, jamuri 

saprocento Semosavali sesxebze – 870 718 – 344 611 – 1,250 799 

sesxis gaufasurebis xarji – 2 32 – 661 65 – 594 (92) 

depozitebi 1 ianvrisTvis 36,410 726 8,999 12,098 506 6,919 12,733 177 18,324 

wlis manZilze miRebuli depozitebi 35,365 24,660 21,574 41,646 16,185 36,658 – 27,989 42,908 

wlis manZilze gadaxdili depozitebi (32,147) (25,229) (22,254) (16,851) (16,127) (33,522) (635) (27,792) (54,647) 

sxva operaciebi (2,898) 14 (2,416) (483) 162 (1,056) – 132 334 

depozitebi 31 dekembrisTvis 36,730 171 5,903 36,410 726 8,999 12,098 506 6,919 

saprocento xarji depozitebze 3,019 33 441 1,681 68 471 – 5 425 

sxva Semosavali 693 – 78 1,671 – 69 437 – 35 

* 2011 wlis 31 dekembers dasrulebuli wlis ganmavlobaSi or iuridiul pirze gacemuli kreditebi, romelTa 

sakontrolo wils flobs bankis mmarTveli sabWos wevri da sameTvalyureo sabWos wevri gadauxdeli iyo. 

mTlianad 775 laris saprocento Semosavali aRiarebuli iyo am kreditebSi konsolidirebuli mogeba-zaralis 

angariSSi 2011 wlis 31 dekembers dasrulebul wels. 36 laris mTliani krediti gadauxdeli rCeba 2011 wlis 31 

dekembrisTvis. 

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(aTas larSi) 

34. dakavSirebul mxareTa ganmartebiTi SeniSvnebi (gagrZeleba) 

zeda rgolis xelmZRvaneli pirebis anazRaureba moicavs: 

2011 2010 2009 

xelfasebi da sxva anazRaurebebi 17,573 20,530 17,833 

- maT Soris, gaTavisuflebis kompensacia 422 426 759 

wilis Sesabamisi gadaxdebi (SeniSvna 26 da 30) 12,092 8,920 10,530 

– maT Soris, gaTavisuflebis kompensacia – 1,183 2,178 

socialuri gadasaxadi 206 441 256 

zeda rgolis xelmZRvaneli pirebis anazRaureba sul 29,871 29,891 28,619 

zeda rgolis xelmZRvaneli pirebis raodenoba 2011 wlis 31 dekembris mdgomareobiT iyo 

169 (2010 wlis 31 dekemberi: 163, 2009 wlis 31 dekmeberi: 151). 

35. kapitalis adeqvaturoba 

jgufi marTavs kapitals biznesTan dakavSirebuli riskebis Semcirebis mizniT. jgufis 

kapitalis adeqvaturobis Semowmeba xdeba sxvadasxva meTodiT, maT Soris erovnuli 

bankis mier dadgenili koeficientebiT da Basel Capital Accord 1988. 

2011 wlis 31 dekember dasrulebuli wlis ganmavlobaSi, banki da jgufi mTlianad 

SesabamisobaSi iyo kapitalis adeqvaturobis dadgenil moTxovnebTan. 

jgufis kapitalis marTvis ZiriTadi mizania, kapitalis adeqvaturobis gare 

moTxovnebTan bankis Sesabamisobis uzrunvelyofa da maRali sakredito reitingisa da 

jansaRi kapitalis ganakveTebis SenarCuneba, rac uzrunvelyofs biznesis dacvasa da 

aqcionerTa keTildReobis gazrdas. 

jgufi marTavs kapitalis struqturas da Seaqvs Sesworebebi ekonomikuri pirobebisa da 

misi saqmianobis risk faqtorebis gaTvaliswinebiT. kapitalis struqturis SenarCunebis, 

an koreqtirebis mizniT, jgufma SesaZloa Secvalos aqcionerebisaTvis gadaxdili 

dividendebis moculoba, ukan daubrunos kapitali aqcionerebs an gazardos kapitali 

aqciebis gamoSvebis gziT. wina wlebSi jgufis miznebi, strategia da procedurebi ar 

Secvlila. 

seb-is kapitalis adeqvaturobis koeficienti 

saqarTvelos erovnuli bankis moTxovniT, banki valdebulia SeinarCunos kapitalis 

adeqvaturobis minimaluri ganakveTi, riskiT Sewonili aqtivebis 12%-is odenobiT, rac 

gamoiTvleba seb-is aqtebis Sesabamisad momzadebul specialuri daniSnulebis finansur 

angariSgebaze dayrdnobiT. 2011, 2010 da 2009 wlebis 31 dekembris mdgomareobiT, bankis 

kapitalis adeqvaturobis koeficienti Semdegia: 

2011 2010 2009 

ZiriTadi kapitali 512,238 494,128 535,427 

damatebiTi kapitali 463,825 423,389 269,729 

gamoklebuli: daqviTvebi kapitalidan (184,323) (367,418) (347,853) 

mTliani maregulirebeli kapitali 791,740 550,099 457,303 

riskiT Sewonili aqtivebi 4,872,931 3,800,624 2,717,084 

sul kapitalis adeqvaturobis 

koeficienti 

16.2% 14.5% 16.8% 

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sazedamxedvelo kapitali Sedgeba ZiriTadi kapitalisgan, romelic moicavs saaqcio 

kapitals, damatebiT Setanil kapitals, gaunawilebel mogebas mimdinare wlis mogebis 

CaTvliT, ucxouri valutis gadafasebas da kontrolis ar mqoneTa wils daricxuli 

dividendebis gamoklebiT, kuTvnili aqciebis wminda grZel pozicias da gudvils. fass-ze 

dafuZnebuli Sedegebi da rezervebi eqvemdebarebian garkveul koreqtirebebs, rogorc es 

gawerilia seb-is mier. sazedamxedvelo kapitalis kidev erTi komponentia meoradi 

kapitali, romelic moicavs subordinirebul grZelvadian sesxsa, priviligirebul 

aqciebsa da gadafasebis rezervs 

kapitalis adeqvaturobis koeficienti Basel Capital Accord 1988-is Sesabamisad 

bankis kapitalis adeqvaturobis koeficienti, romelic daangariSebulia Basel Capital Accord 

1988-is mixedviT, Sesabamisi cvlilebebiT sabazro riskebis gaTvaliswinebasTn 

dakavSirebiT, 2011, 2010 da 2009 wlis 31 dekembris mdgomareobiT, Semdegia: 

2011 2010 2009 

pirveli rigis kapitali 764,377 637,971 548,710 

meore rigis kapitali 380,301 404,788 369,480 

gamoklebuli: gamoqviTvebi kapitalidan (49,341) (70,722) (67,454) 

mTliani maregulirebeli kapitali 1,095,337 972,037 850,736 

riskiT Sewonili aqtivebi 3,839,462 3,653,247 2,454,763 

mTliani kapitalis koeficienti 28.5% 26.6% 34.7% 

pirveli rigis kapitalis koeficienti 19.9% 17.5% 22.4% 

kapitalis adeqvaturobis minimaluri 

koeficienti 

8% 8% 8% 

36. angariSgebis periodis Semdgomi movlenebi 

2012 wlis 24 Tebervals saqarTvelos bankis holdingma gamoacxada, rom EBRD-m da IFC-m 

moaxdines maTi Sesabamisi sesxebis nawilis konvertireba bankis aqciebSi da miiRes 

satendero SemoTavazeba aseT sabanko aqciebTan dakavSirebiT (`kreditis konvertacia”). 

mTliani nominaluri (sakontraqto) Tanxa 49,903,083 aSS dolari konvertirebuli iyo 

3,635,006 axlad gamoSvebul bankis Cveulebriv aqciebSi. am konvertaciis Semdeg bankis 1 

rigis kapitalis da mTliani kapitalis adekvaturi Sefadeba saqarTvelos erovnuli 

bankis regulaciis mixedviT, Sesabamisad moicavda 15.3% da 17.9%-s 2012 wlis 29 

TebervlisTvis. 

2012 wlis 28 Tebervals saqarTvelos bankis holdingma gamoacxada rom: (i) misi 

satendero winadadebis (`satendero winadadeba”) warmatebiT dasrulebis yvela piroba, 

romlic gulisxmobs bankis mTliani gamoSvebuli da gamosaSvebi saaqcio kapitalis 

SeZenas, dakmayofilda, an Tu daSvebulia, uaryofili iqna; (ii) rom saqarTvelos bankis 

holdingis 35,909,383 aqcia 2012 wlis 28 Tebervlis 8:00 saaTisTvis daido gasayidad 

gaerTianebuli samefos listingis oficialuri siis sapremio segmentze da fasianis 

qaRaldebis londonis savaluto birJis mTavar bazarze tikeriT BGEO.LN (`daSveba”); da 

(iii) Sesabamisad satendero winadadeba yvela TvalsazrisiT upiroboa. satendero 

winadadevbis vada amoiwura 2012 wlis 24 Tebervals 5:00saaTze londonis droiT. rogorc 

zemoTaa aRwerili, EBRD da IFC –m moaxdines bankis mimarT TavianTi Sesabamisi sesxebis 

nawilis konvertacia bankis aqciebSi da miiRes satendero winadadeba bankis aseT 

aqciebTan dakavSirebiT (`sesxis konvertacia”). satendero winadadebis kanonieri 

aqceptireba miRebuli iqna bankis gamoSvebuli da gadauxdeli saaqcio kapitalis 98.17 

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(aTas larSi) 

procentTan dakavSirebiT (sesxis konvertaciamde) da 98.35 procentTan (sesxis 

konvertaciis Semdeg) dakavSirebiT. 

miTiTeba keTdeba 2012 wlisTvis 200,000,000 aSS dolaris sesxSi bankis 9.0 procentiani 

monawileobrivi Tamasuqebis (ISIN:XS0283756624; saerTo kodi: 028375662) (`Tamasuqebi”) 

gamoSvebaze, romelic gamoSvebuli iqna BG Finance B.V-s mier (èmitenti”), da romlis 

erTaderTi mizania bankis kreditis dafinanseba (`krediti”) emitentsa da banks Soris 2007 

wlis 6 TebervliT daTaRirebuli sesxi xelSekrulebis mixedviT (`sesxis 

xelSekruleba”). am valdebulebis pirobebis mixedviT 2012 wlis 8 Tebervals (`dafarvis 

vada”) Tamasuqebi srulad iqna gamosyiduli. 144, 493,000 aSS dolaris nominaluri 

Rirebulebis Tamasuqebi xelaxla iqna Sesyiduli bankis mier dafarvis vadamde, xolo 

darCenili Tamasuqebi (55,507,000 aSSd nominaluri RirebulebiT) daifara dafarvis dRes. 

2012 wlis TebervlisTvis bankis saSualo likvidurobis koeficienti saqarTvelos bankis 

likvidurobis regulaciis Sesabamisad, moicavda 38.2%-s, minimalur moTxovnil 30%-Tan 

SedarebiT. 

119

IFRS FS_BOG_Group_YE_2011_ENG_FIN georgian

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