Lasha Abashidze: Tbilisi-Akhaltsikhe flight to be launched soon

According to the company, the growth was also due to the addition of new cargo flows - in the first half of the year, products appeared that were not or almost not transported in the same period last year.In parallel with the shipments, a significant increase was also recorded in the company's operational and financial results: Total revenue: GEL 352 million (+19% compared to the previous year) Adjusted EBITDA: GEL 92.2 million (+27%; in 6 months of 2025: GEL 72.4 million) Full EBITDA: GEL 137 million (+84%; in 6 months of 2025: GEL 74.3 million) Adjusted EBITDA margin: improved to 45% (from 25% in the previous year) Net profit: GEL 112.3 million (+74%; in 6 months of 2025: GEL 64.7 million) Meanwhile, according to Georgian Railways, the company's net profit in the first half reached GEL 112.3 million, which is a direct result of increased operational efficiency and expanded cargo turnover.

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“International currency reserves are an important guarantor of the country’s macroeconomic stability. Accordingly, the NBG is consistently focused on building up reserves, in line with the bank’s stated policy. Whenever market conditions allow, the National Bank increases the country’s international reserves.Specifically, in June, the NBG built up its currency reserves by USD 612.6 million through interventions carried out on the Bmatch platform. Meanwhile, total net purchases for January–June 2026 amounted to USD 2,078.4 million.The NBG’s currency interventions in 2026 break down as follows: January - net purchase via Bmatch of USD 86.6 million; February - net purchase via Bmatch of USD 429.3 million; March - net sale via Bmatch of USD 16.2 million; April - net purchase via Bmatch of USD 333.3 million; May - net purchase via Bmatch of USD 632.9 million; June - net purchase via Bmatch of USD 612.6 million. The National Bank of Georgia will publish updated data on its currency market operations on August 25, 2026,” the National Bank’s statement notes.

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The completion has followed the receipt of the required approval from the Committee for the Development of Competition and Protection of Consumer Rights of the Republic of Uzbekistan.For this acquisition, TBC Group formed a joint venture (JV) with Titan Investments, an international investment holding company backed by top-tier international institutional investors, family offices and sovereign wealth funds from the Middle East. The JV has acquired 100% of OLX UZ, with TBC Group owning 50% + 1 share and Titan Investments owning the remaining shareholding.OLX UZ is one of Uzbekistan's top 10 most visited websites, with over 5 million monthly active users and 2 million active listings across services, goods, vehicles and real estate, serving more than 17% of the country's active internet users.OLX UZ will continue to operate under the OLX brand and work as a stand-alone, open classifieds platform. Over time, TBC Uzbekistan plans to offer financial and payment services through OLX UZ, deepening engagement across consumer and business segments. This will in turn enable OLX UZ, which is already growing profitably, to further develop its own business."We're delighted to announce the completion of this acquisition, which represents continued execution on our strategy to diversify our business. It enables TBC to enter a new high growth vertical, bringing millions of new customers, allowing us to capture a greater share of customer attention and unlocking additional synergies that drive long-term customer loyalty and engagement. We will preserve what makes OLX unique and trusted - an open and independent platform - while creating new products and services for its users. We are pleased to partner with Titan Investments and leverage our combined expertise to drive further growth of OLX UZ”, - Nika Kurdiani, CEO of TBC Uzbekistan, commented.The JV between TBC Group and Titan Investments brings a unique combination of expertise in building and growing digital businesses. It allows the Group to leverage Titan's expertise in investing in and scaling high growth digital classifieds, while enabling TBC Uzbekistan to focus on integrating digital banking products into OLX UZ and developing new products together with OLX UZ.

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According to G&T's research, in June 2026, electricity exports to Turkey dropped sharply - 7.9x in volume and 12.0x in value. Exports to Turkey totalled 24.0 GWh and US$ 0.7mn, and average export price stood at 2.8 USc/kWh (-34.4% y/y).ESCO was the sole exporter, supplying electricity to settle a previous obligation. The sharp declines in export prices, volumes and revenues reflect lower prices and increased generation in Turkey:• In June 2026, Turkey’s average market price was 2.9 USc/kWh -34.4% y/y, +61.1% m/m. • Such a low price significantly reduces the economic viability of exports, as exporters must also cover transmission and guaranteed-capacity fees totalling 1.5 USc/kWh.• Electricity generation in Turkey increased sufficiently for the country to pause commercial imports from Georgia. Higher generation in Turkey reflected favourable hydrological conditions and rapid solar capacity additions.Exports from Georgia to Turkey resumed on July 6, 2026 as Turkish electricity prices increased. The average Turkish market price reached 6.0 USc/kWh over 1-20 July. In July 2026, the companies exporting electricity were: Achar Energy 2007, Energy Development Georgia, Svaneti Hydro, Kasleti-2, AISI LLC, Austrian Georgian Development and ESCO. 

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“According to the information available to us, as a result of the investigation conducted by the relevant investigative service against the aforementioned companies, none of the sanctioned companies had their area of ​​activity in Georgia. In addition, additional investigative actions have been initiated against them.We note here that the regulatory framework of the National Bank of Georgia imposes strict requirements for market entry and operation and represents an important filter for entities involved in illegal activities.In addition, the regulatory framework for virtual asset service providers developed by the National Bank is in line with the standards of the International Task Force on Combating Money Laundering (FATF) and best international practices, as confirmed by the 2024 assessment of the Committee of Experts of the Council of Europe (Moneyval). According to the assessment, in relation to Recommendation 15 (which provides for compliance with the requirements for the introduction of new technologies and the regulation of the activities of virtual asset service providers (VASPs)), Georgia’s rating is "Largely compliant." Similar assessments have been made regarding this recommendation by, for example, the United Kingdom and France," the regulator's statement reads.

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The most satisfied shareholders are the shareholders of the Bank of Georgia Group. ROE for every 100 GEL invested is >31 GEL. TBC ratio is 23.5%. Liberty/Basis is almost equal within 15%.Return on capital >20% is considered optimal.

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According to the 6-month statistics of NBG, the total profit (of profitable banks) is 1.914 billion GEL (H1/2025 - 1.619 billion. +18.2% Y.Y).All banks are profitable, except for the sanctioned VTB (-14.9 million) and Silk (-13.8 million). Also at a loss are digital "Hash Bank" (-6.2 million) and "Paysera " (-1.2 million), the 3rd digital - "Pavebank" has a 6-month net profit of 5.6 million GEL.In total, there are 19 entities on the market, including 2 microbanks (Crystal and MBC).

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The country's five leading commercial banks Bank of Georgia, TBC Bank, Liberty Bank, Terabank, and Basisbank will implement the Nasdaq Calypso system on a shared infrastructure covering the full front-to-back trade lifecycle. This initiative, executed under the Georgian Market Advancement Program (GMAP) and coordinated by GFMTA, represents a significant milestone in the development of Georgia's capital markets.The five participating commercial banks account for the largest share of assets in the Georgian commercial banking sector. Their transition to a shared, internationally recognized platform marks a crucial step toward establishing Georgia as a modern and well-governed financial market.Notably, over the past five years, the Georgian commercial banking sector has experienced double-digit growth, with total assets approaching USD 38 billion a testament to the scale and dynamism of the country's financial system. Alongside this growth, demand has increased for more sophisticated treasury infrastructure capable of supporting securities and derivatives markets, enterprise-wide risk management, and increasingly stringent regulatory requirements. At the same time, the investment required to implement and maintain such infrastructure at an individual institutional level poses a significant challenge for any single bank. A shared, coordinated approach, involving sector-wide pooling of resources and expertise, represents the most efficient means of achieving this objective at scale.According to Natia Turnava, Governor of the National Bank of Georgia, the modernization of Georgia's treasury infrastructure is a strategic priority for the NBG and an important step forward in the continued development of the country's financial system. She emphasized that, with the NBG's support, the shared platform will provide the reliable, world-class infrastructure needed to support the banking sector's continued growth."By migrating five leading Georgian commercial banks to a unified, internationally recognized platform, we are raising the standards of risk management, regulatory oversight, and operational resilience across the sector. This initiative reflects our commitment to building a strong and transparent financial market that fully aligns with international best practices and supports Georgia's economic growth," said Natia Turnava.Magnus Haglind, Head of Capital Markets Technology at Nasdaq, noted that Georgia serves as a prime example of how a shared infrastructure model can create tangible value."Both for individual institutions and for the financial system as a whole. Drawing on Nasdaq's experience in managing large-scale modernization programs, financial institutions gain access to deep institutional knowledge and future development opportunities without having to bear the full costs, risks, or operational complexities independently. GMAP represents precisely the kind of structured, country-level framework that ensures the success of a transformation on this scale. We are delighted to have the opportunity to support the National Bank of Georgia in this initiative and to assist the Georgian banking sector in establishing the infrastructure it needs for its next phase of growth," said Magnus Haglind.

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