Licensed by the National Bank of Georgia in January 1994, Absolute Bank has now been operating for over five years. During that time, the Bank has become one of the most respected in Georgia. It was the first to receive unguaranteed credit from the European Bank for Reconstruction and Development (EBRD) and the first to be appointed a Principal Member of VISA International.

Absolute Bank is majority owned by four American investment companies, each of which is headed by experienced and successful financiers. The EBRD holds over 12% of the shares of the Bank. The Georgian shareholders include a number of prominent companies and individuals. The bank has branches in Tbilisi, Rustavi and Poti as well as established correspondent relationships with major banks in New York, Frankfurt, London, Paris, Moscow and other cities.

The bank is a member of SWIFT and other telecommunications organizations. The FX dealing room is equipped with Reuters 2000. Operations are highly computerized.

In 1996, the Bank established UFC, the prominent bank card servicing company, and the following year opened membership to other banks. In addition to the Absolute UFC Card, the Bank now enables Georgians to obtain a VISA card, which can be used in Georgia and around the world. VISA cards are by far the most popular and are currently accepted in over 170 million stores, car rental agencies, gas stations, restaurants, hotels, airlines, parking lots and other service establishments. If you have just one card, it should be VISA.

Absolute Bank offers individuals and legal entities a complete range of account services in Lari, US dollars and other currencies. The most useful and flexible is a "Current Account" as it may be used for receipts and payments in Georgia and elsewhere in the world. The bank's fees and commissions are constantly reviewed to ensure that they are fair and reasonable. There is no minimum balance requirement, our services are prompt and efficient, and they are carried out with courtesy.

If you are interested in earning high interest on the funds you place with the bank, you should consider a time deposit account. Your funds, in a minimum of 500 lari or US $500 have to be deposited for a minimum of one month, preferably longer. In return, the interest paid is generous. If, at any time, you need funds, you may borrow from the bank at low cost, using your time deposit as security.

A more flexible account which also eams interest is called a Savings Account. It is designed primarily for individuals who are unable to tie up large amounts for a fixed time period. If you wish to earn interest and yet be able to get money when you need it, consider a Savings Account in dollars or in Lari. You might wish to open such an account for each of your children.

Your Absolute UFC Card and your Absolute VISA Card each also entail a flexible account. The UFC Card Account will be in Lari and the VISA account will be in dollars. Each has a plastic charge card. The UFC card is for use in Georgia.. The VISA card may be used in Georgia or worldwide. In fact travelling without one will be inconvenient. Both can be used for obtaining cash from your account at a number of banks and ATMs in Georgia. The VISA card, of course, can be used at banks and ATMs around the world. Both types of accounts earn interest so have the advantages of great convenience, easy cash accessibility, and earnings. We suggest that you have both cards.

Total deposits at Absolute Bank are consistently among the largest of all Georgian banks. And, Absolute Bank is an important lender to both companies and individuals. If you are interested in borrowing from the bank, we suggest you speak with a member of our Credit Department and obtain an application. We will require a good deal of information about the proposed borrower's financial situation, the purpose of the borrowing, how it will be repaid and what can be pledged as collateral. If you meet our criteria, we will try to design a flexible lending program which meets your requirements.

Payments within Georgia, and to and from foreign individuals and legal entities, are carried out efficiently for custorners and also those who do not yet bank with us. We have an extensive network of correspondents in other countries. Our foreign exchange and international banking services are second to none.