I have never tried to use excess financial resources to create any type of obstacles for Georgian business, said Bidzina Ivanishvili in the interview to Entrepreneur magazine.

“Cartu Bank has never attempted aggressive efforts and campaigns in the Georgian market, never seeking to monopolize the market, and never agreeing to serve state accounts, instead always working toward a healthier banking system in Georgia. Suffice to say, in 2001, we bought out the liabilities of Absolute Bank and this way actually saved the then banking system.

I, though a shareholder, have never received dividends from Cartu Bank. And the bank, over the years, has spent USD 55 million from its profits toward charity.

As for Elita Burji LLC, an unprofitable company for years, I had to subsidize it because I simply had no time personally to manage it. And the company, because of heavy investments in construction technologies, was unable to make fast return on investment on its own. But for me, as mentioned earlier, introducing modern technologies and improving the country’s business environment is far more important than doing business.

I still feel that way, and this is exactly why, on my wife’s initiative, we have been investing heavily in tourism infrastructure for several years now. Hotel infrastructure of this level may not be necessary today or even tomorrow, but it will benefit the country years from now, when high-spending tourists, including year-round visitors, will flock to Georgia as it grows capable of hosting events of global importance independently.

I understand that, given heavy investments and the scarcity of the market, such projects will not bring in proportional commercial revenues. But I also understand that this is what Tbilisi and the country need, which is why, to me, these are far more than standard commercial projects. The same is true of Cartu Bank, Elita Burji, and other businesses”, - said Bidzina Ivanishvili.

He also agrees with the journalist that despite many years of business management experience, he has not been able to establish profitable business companies in Georgia.

“I agree with you and admit that I am not happy when it comes to the profitability criterion. Of course, it would be better for businesses to generate higher profits. In the case of the bank, it would have been better to attract greater investments, but unfortunately, it never happened, and I am not happy about it, of course. Apparently, I did not pay due attention to it, especially after entering politics.

Yet, besides the lack of attention, the poor effectiveness of my business companies was also due to the fact that I have never tried to use excess financial resources to create any type of obstacles for Georgian business. On the contrary, I always wanted to help the market and improve the economic environment as much as possible, which is why I never focused only on business profitability…. I honestly wanted to help the country and choose a business activity not based on its profitability, but on its usefulness for the country”, - added Bidzina Ivanishvili.