Finance

Last week was successful for Georgian companies listed on the London Stock Exchange

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Tbilisi (GBC) – According to Galt & Taggart’s weekly review for June 23-27, all three Georgian companies listed on the London Stock Exchange showed growth compared to the previous week. Only Lion Finance Group was up compared to the previous month.

Lion Finance Group (BGEO LN) shares closed at GBP 69.95/share (+5.74% w/w and +4.25% m/m). More than 170k shares traded in the range of GBP 65.70 - 70.00/share. Average daily traded volume was 45k in the last 4 weeks. The volume of BGEO shares traded was at0.38% of its capitalization.

TBC Bank Group (TBCG LN) closed the week at GBP 45.80/share (+3.74% w/w and -0.65% m/m). More than 237k shares changed hands in the range of GBP 43.85 - 45.80/share. Average daily traded volume was 60k in the last 4 weeks. The volume of TBCG shares traded was at 0.42% of its capitalization.

Georgia Capital (CGEO LN) shares closed at GBP 19.00/share (+4.74% w/w and -1.25% m/m). More than 156k shares traded in the range of GBP 17.98 - 19.10/share. Average daily traded volume was 42k in the last 4 weeks. The volume of CGEO shares traded was at 0.40% of its capitalization.

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TBC acquires 53% of Uzbek SaaS platform in BILLZ

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Geostat: GDP Growth Made Up 7.5% For May

In May 2025, compared to the same period of the previous year, the estimated real growth in following activities contributed significantly: Information and communication, Manufacturing, Trade, Transportation and storage, Construction.Decline was registered in the Energy sector.

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TBC acquires 53% of Uzbek SaaS platform in BILLZ

TBC PLC agreed to acquire a majority stake in BILLZ for up to $12 million, including an initial 53% stake for $9 million with plans to increase it to 60% over the next two years, giving BILLZ a post-money valuation of $20 million. The partnership and planned investment will unlock additional catalysts for growth for both BILLZ and TBC Uzbekistan.Under the terms of the deal, BILLZ will continue to operate under its own brand, while becoming fully integrated into the TBC Uzbekistan ecosystem. The management and wider team at BILLZ will remain with the company, continuing to lead its product development and execution.TBC PLC has entered into a put/call arrangement for the remaining 40% of BILLZ, which can be exercised 36 months after the completion of this deal.BILLZ is an all-in-one retail management SaaS platform for SMEs, combining POS, inventory, CRM, e-commerce, and analytics to streamline operations and drive sales. It simplifies marketing, connects seamlessly to marketplaces and social shops, and helps retailers grow online. BILLZ currently supports over 4,000 retail businesses and processes more than 1.5 million transactions per month, making it one of the most widely used SaaS platforms in the region.BILLZ will enhance TBC Uzbekistan’s reach into the strategically important SME segment, providing immediate access to thousands of business customers and creating additional synergies within the ecosystem to drive average revenue per user, loyalty and stickiness. BILLZ users will in turn gain seamless access to banking and lending products provided by TBC UZ, Payme’s suite of digital payments services, as well as other products within the TBC Uzbekistan ecosystem.The strategic partnership agreement with BILLZ comes as TBC Uzbekistan continues to expand the product offering available within its digital banking ecosystem. It follows the recent launch of a new lending product for business customers, unveiled in April as part of the TBC Business offering for small and medium-sized enterprises, as well as the launches of Osmon credit card and Salom debit card last year. These products are already playing a key role in tapping new customer segments, diversifying revenue streams and driving growth of TBC’s digital banking ecosystem.Nika Kurdiani, CEO of TBC Uzbekistan, commented: “Since our 2019 expansion into Uzbekistan, TBC has played a leading role in the development of the country’s financial services and technology sectors. We have been a key strategic investor and builder, with our digital banking ecosystem setting a new standard for best-in-class digital products in a previously underserved market. We are pleased to be continuing this work through a strategic partnership with market leader BILLZ, reconfirming our ongoing commitment to supporting Uzbekistan’s vibrant startup community. We will continue to innovate and expand our offering as part of this partnership, which signals an important step change for the tech industry in Uzbekistan. We have noted with great admiration the work that Rustam and the founding team at BILLZ have done to transform the platform into one of the country's leading players in its space and are proud to welcome BILLZ into the TBC family. I am confident that this partnership will help to fuel the platform’s growth and development, as well as unlock additional synergies within our ecosystem that will further drive customer engagement, loyalty and revenue growth.”Rustam Khamdamov, CEO & Co-Founder of BILLZ, commented: “This partnership is a major milestone not only for BILLZ, but also for the broader startup ecosystem in Central Asia. Over the past few years, we’ve been focused on empowering thousands of retail entrepreneurs with modern tools to grow and digitize their businesses. Joining forces with TBC Uzbekistan gives us a powerful platform to scale our impact, offer more value to our customers, and accelerate our mission across the region. We’re proud of what our team has built and excited for this next chapter of growth together with TBC.”TBC Capital is acting as sole M&A advisory to TBC PLC in connection with the transaction.

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Non-cash spending through TBC Bank channels increased by 26% y-o-y

In May 2025, according to data from TBC Bank’s payment channels, consumers increased their overall spendings and made more transactions compared to last year’s May.In the leisure sector, particularly in hotels, spending increased by 34%, which was mainly driven by non-residents’ increased spending. Non-residents’ average transaction in hotels was approximately 3 times higher compared to residents’ figure.In May 2025, there was a notable annual increase in non-cash spending in restaurants, while average spending marked GEL 34. During the same month, non-residents’ average transaction volume was approximately 5 times higher than the residents’ figure.Consumers spent 37% more on apparel and accessories in May 2025 compared to the previous year.

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Givi Targamadze sentenced to seven months in prison for defying invest...

The verdict was announced just a short while ago. Givi Targamadze did not attend the court session.Givi Targamadze was summoned to appear before Parliament’s temporary investigative commission on April 3 but failed to show up.He was charged under Article 349 of the Criminal Code, which covers “failure to comply with the request of the Temporary Investigative Commission of the Georgian Parliament.”The Tbilisi City Court imposed a GEL 10,000 bail as a preventive measure in the case concerning Targamadze’s failure to appear before the investigative commission, which he paid within the legally stipulated timeframe.

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Number of population connected to water supply industry amounted to 75...

The volume of water provided to households amounted to 243.4 million cubic metres which is 5.1 percent higher compared to 2023 (231.5 cubic meters).As of December 31, 2024, the number of population connected to water supply industry amounted to 2.79 million (75.4 %) which is 1.5 percent higher compared to 2023 (2.75 million).In 2024, the number of population connected to a wastewater collecting system increased by 1% compared to the year prior (1.98 million) and amounted to 2.00 million (54.1 %), while the number of population connected to wastewater treatment facilities increased by 3.9 percent compared to previous year (1.52 million) and reached 1.58 million (42.7 % of total population).

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The number of deaths in Georgia registering a 2.8% increase

Diseases of the circulatory system (41.3 percent) and neoplasms (13.0 percent) are the dominant causes of death.Causes of death vary with age. Certain disorders originating in the perinatal period are dominant among children under-5. At the age of 5-39, Injury, poisoning and certain other consequences of external causes prevail, as the risk of accidents is relatively higher for these age groups. At the age of 40 and above, the dominant causes of death are diseases of the circulatory system and neoplasms.

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NBG Buys Another $245 Million on Bmatch

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8.9% more apartments were sold in Batumi

As of May 2025, the number of transactions of residential flats in Batumi has increased by 8.9 % to 1,354 units. The market size has increased by 23.7% standing at USD 76 millions. Note: The methodology of price analysis has been updated for new projects, which has resulted in changes in 2022-2025 figures.In May 2025, the number of transactions of newly-built flats in Batumi has increased by 10.1% year over year, while a 3.7% YoY decrease rate has been observed in the case of old flats.

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In a statement published on social media platform X (formerly Twitter), Norway expressed serious concern over the political climate in Georgia, urging the authorities to respect fundamental freedoms and the rule of law.“Norway calls for the release of those unjustly detained and for an end to the repression of civil society, free media, and freedom of speech in Georgia,” the ministry stated. The recent arrests of several opposition leaders in Georgia represent an unprecedented attack on Georgia's democracy.Norway calls for the release of those unjustly imprisoned, and an end to repressive actions against civil society, free media, and freedom of speech in Georgia. — Norway MFA (@NorwayMFA) June 25, 2025 The criticism comes amid a wave of arrests of opposition leaders who failed to appear before the so-called “Tsulukiani Commission”, a parliamentary body set up to investigate alleged foreign influence and “anti-state activities.”A total of seven prominent political figures have been detained in recent weeks, including current and former leaders of major opposition parties: Giorgi Vashadze (Strategy Agmashenebeli) – arrested June 24, sentenced to 7 months Mamuka Khazaradze (Strong Georgia) – arrested June 23, sentenced to 8 months Badri Japaridze (Strong Georgia) – arrested June 23, sentenced to 8 months Nika Gvaramia (Coalition for Change) – arrested June 13, sentence not disclosed Nika Melia (Coalition for Change) – arrested May 29, sentence not disclosed Zurab Japaridze (Coalition for Change) – arrested May 22, sentence not disclosed Irakli Okruashvili (former Minister of Defense) – arrested May 14, sentence not disclosed

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EU Officials Condemn Arrest of Georgian Opposition Leaders as Threat t...

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Giorgi Vashadze Sentenced to Seven Months in Prison

The ruling was delivered on June 24 by Judge Nino Galustashvili, despite a request from Vashadze’s legal team to postpone the session so the defendant could deliver a final statement. Vashadze did not attend the court hearing and instead awaited the verdict at his party’s headquarters, where he was joined by political allies and Georgia’s fifth president, Salome Zurabishvili.The charges stem from Vashadze’s failure to appear before the Temporary Investigative Commission established by the ruling Georgian Dream party. He was prosecuted under Article 349 of the Criminal Code, which penalizes noncompliance with such a summons and carries a sentence of up to one year in prison or a ban from public service for up to three years. Vashadze had previously posted 50,000 GEL bail, which was paid within the legal deadline.The verdict against Vashadze follows a wave of similar rulings targeting high-profile opposition leaders. On June 23, the court sentenced Lelo party leaders Mamuka Khazaradze and Badri Japaridze to eight months in prison, also banning them from holding office for two years. The two were detained outside their party office and handcuffed in public, prompting strong domestic and international criticism.Also sentenced on June 23 was Zurab Girchi Japaridze, leader of the “For Change” coalition, who received the same 7-month prison sentence and a two-year political disqualification.The coordinated sentencing of opposition figures has triggered concern among civil society organizations, with 40 NGOs recently warning that Georgia is "sliding toward authoritarianism." International voices, including UK Minister of State Stephen Dowty, have called for the immediate release of political prisoners and urged the ruling party to cease suppressing dissent.As more verdicts loom and protests intensify, observers warn that these developments could have a chilling effect on Georgia’s democratic institutions and further strain the country’s relationship with Western partners.

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UK Minister Urges Georgian Dream to End Repression and Release Politic...

In a statement posted on X (formerly Twitter), Dowty criticized the imprisonment of Mamuka Khazaradze, Badri Japaridze, and Zurab Girchi Japaridze, labeling their detention a “step taken to block electoral competitors.”“The imprisonment of influential opposition politicians in Georgia for boycotting parliament is a step taken to block their competitors in the elections,” Dowty wrote.On June 23, Tbilisi City Court sentenced Lelo party leaders Khazaradze and Japaridze to 8 months in prison, along with a 2-year ban from holding public office. Both were detained outside their party headquarters and escorted in handcuffs.The same day, Zurab Japaridze, leader of the “For Change” coalition, was also sentenced to 7 months in prison and similarly barred from holding public office for two years. All three politicians were convicted for refusing to appear before a parliamentary investigative commission, established by the Georgian Dream majority and chaired by Vice Prime Minister Tea Tsulukiani.They were charged under Article 349 of the Georgian Criminal Code, which penalizes noncompliance with parliamentary commission requests and is punishable by a fine, imprisonment for up to one year, or disqualification from public office for up to three years.On June 24, the Tbilisi City Court is expected to deliver its verdict in the case of Giorgi Vashadze, leader of the Strategy Agmashenebeli party. Vashadze, who also declined to appear before the same commission, has chosen not to attend the court hearing and will instead await the ruling at his party office, where opposition leaders and former President Salome Zurabishvili have gathered in solidarity.Vashadze, who faces identical charges, was released earlier on 50,000 GEL bail, which he paid on time.