BARTA 2020 – The Best Annual Report and Transparency Award winning ceremony was held

On December 16, 2020, The European Union and World Bank joint project - Georgia Financial Inclusion and Accountability – in partnership with the National Reforms Support Foundation in Accounting, Reporting and Auditing (RSF), held a virtual award ceremony for the second Best Annual Report and Transparency Award (BARTA). 

The annual award is intended to encourage compliance with new reporting regulations, foster healthy competition between companies, and improve the overall standard of corporate reporting as part of the country’s quest to build up investor trust and confidence at local and international levels. SARAS is one of supporters since the BARTA was established in 2019. 

The award ceremony, held virtually today, showcased 18 nominated companies, and was presided over by a distinguished international panel of judges. 

The winners in each of the 4 award categories, announced today, are as follows:

• Large Financial Companies – JSC TBC Bank
• Large Non-Financial Companies – JSC Nikora Trade and JSC Telasi (Joint)
• Small Companies – Georgian Leasing Company LLC
• Honorary Award – JSC MFO Crystal

View the recording of the event. 

As judges of the Award noted, high-quality information was presented by each nominee.

"The European Union congratulates Georgia for visible progress in the financial sector," said Sigrid Brettel, Head of Cooperation of the European Union Delegation to Georgia. “Now, following the recent experience of larger companies, also the smallest ones are entering the forefront of financial reporting and transparency. This is good for business, for investors and Georgia's overall economic development.” 

Sebastian Molineus, World Bank Regional Director for the South Caucasus noted that initiatives such as BARTA are very important to further develop the Georgian business environment and boost investor confidence in Georgia.