Lending growth remains at 15%

Lion Finance Group (BGEO LN) shares closed at GBP 145.80/share (+6.42% w/w and +9.38% m/m). More than 241k shares traded in the range of GBP 137.10 - 145.80/share. Average daily traded volume was 46k in the last 4 weeks. The volume of BGEO shares traded was at 0.56% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 53.35/share (+3.39% w/w and +7.43% m/m). More than 239k shares changed hands in the range of GBP 52.10 - 53.95/share. Average daily traded volume was 68k in the last 4 weeks. The volume of TBCG shares traded was at 0.43% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 46.90/share (-6.57% w/w and +6.23% m/m). More than 178k shares traded in the range of GBP 44.20 - 48.85/share. Average daily traded volume was 88k in the last 4 weeks. The volume of CGEO shares traded was at 0.52% of its capitalization. 

1790680599

According to NBG statistics, deposits grew by 21.67% year-on-year.The deposit larization ratio rose by 0.01% in August, reaching 56.81%.In August, the weighted average annual market interest rate on time deposits stood at 6.78%; specifically, the rate was 8.68% for deposits in the national currency and 2.31% for deposits in foreign currency.Among foreign currency deposits, the US dollar accounted for a 77.45% share, while the Euro accounted for 20.00%.

1790680521

The study also confirms PSP’s leadership in brand awareness. When consumers are asked to name pharmacy chains, PSP is mentioned most frequently. Its Top-of-Mind awareness stands at 42%, meaning that the largest share of consumers name PSP first when thinking of a pharmacy.Consumer choice further demonstrates PSP’s strong market position. According to the study, 82% of consumers use PSP’s services, while 39% consider PSP their primary pharmacy choice. These figures further highlight the company’s strong position not only in terms of awareness, but also in actual consumer behavior.Consumers also perceive PSP as the leading pharmacy chain in the market. 56% of respondents identify PSP as the market leader, while 51% name it the most trusted pharmacy. PSP ranks first across almost all evaluated attributes. According to the study, 59% of respondents find it easy to find the products they are looking for at PSP, while 52% believe PSP offers the best assortment and brands. For 50% of respondents, visiting PSP is a pleasant experience. PSP also holds a leading position when it comes to price affordability.The study shows that consumers consider several key factors when choosing a pharmacy. Among the most important reasons for visiting their primary pharmacy are a convenient location, attractive promotions, qualified pharmacist service, and affordable prices.The study was conducted in 2026 across Georgia by ACT Research, with 800 respondents participating.Founded in 1994, PSP became the first official distributor of European medicines in Georgia. Today, the company represents products from leading global manufacturers of pharmaceutical and medical products, including more than 100 pharmaceutical manufacturing facilities operating in compliance with GMP standards.For more than 30 years, PSP has been a guarantee of quality for consumers. The company places particular emphasis on maintaining high standards of product and service quality. PSP’s pharmacy network has been awarded the ISO 9001:2008 international quality management certification following an audit by German experts. PSP’s distribution warehouse has also successfully passed the GDP compliance audit twice and holds a certificate of compliance with Good Distribution Practice (GDP) standards.Today, PSP operates more than 360 branches across Georgia and employs more than 5,000 people. Its pharmacy network offers pharmaceutical and parapharmaceutical products from leading global manufacturers, as well as dietary supplements, mother and baby care products, oral hygiene products, and a wide range of beauty and cosmetics products. The company continuously expands its portfolio in line with the latest developments in medicine and dermatological skincare.PSP was the first pharmaceutical company in Georgia to offer customers online services alongside its physical branches. Through its e-commerce platform, which integrates the company’s website and smartphone application, customers can access the network’s full product assortment and choose either home delivery or collection through a locker. The platform is also powered by AI, making it easier for customers to select products and complete their purchases.PSP is a company trusted and chosen not only by consumers for the quality of its products and services, but also recognized by international experts and the public through numerous awards in Georgia and at international competitions, including Ad Black Sea, Stevie Awards, The One Show, The Clios, ADCE, Epica Awards, KIAF, and Baku Flames.In 2025–2026, PSP’s communication campaigns have become some of the most successful and internationally recognized campaigns in Georgia’s history, earning significant recognition on both the local and global stage.

1790679690

Foreign exchange reserves serve as a vital safeguard for the country’s macroeconomic stability. Consequently, the NBG remains steadfastly focused on rebuilding its reserves, as reflected in the bank’s stated policy. Whenever market conditions permit, the central bank actively boosts the country’s international reserves.Specifically, during August, the NBG replenished foreign exchange reserves by USD 555.6 million through interventions on the Bmatch platform. Total net purchases from January to August 2026 reached USD 3,122.2 million.Foreign exchange interventions conducted by the NBG in 2026 began in January with net Bmatch purchases of USD 86.6 million, rising sharply in February to USD 429.3 million. March recorded net sales of USD 16.2 million, before returning to net purchases in April at USD 333.3 million, May at USD 632.9 million, June at USD 612.6 million, July at USD 488.2 million, and August at USD 555.6 million.The National Bank of Georgia will release updated data regarding its foreign exchange market operations on 26 October 2026.

1790334200

Ekaterine Mikabadze, First Vice-Governor of the National Bank of Georgia, congratulated Rico Express, TBC Capital, all involved parties, and the investors on the successful transaction. She noted that investors are gaining increasing opportunities to securely allocate their savings, while the private sector is gaining access to alternative sources of financing."Every successful market transaction is significantly driven by both capital market conditions and general macroeconomic stability. Stable economic development substantially lowers the country's risk premium, which, of course, enables the private sector to raise financial resources on more favorable terms. Positive trends are evident in the development of the capital market; the past year saw significant market activity, and market participants continue to demonstrate a high level of engagement this year," noted Ekaterine Mikabadze, First Vice-Governor of the National Bank."I congratulate 'Rico Express' Microfinance Organization on the successful placement of its first foreign-currency bond. There was significant interest in the securities, enabling the company to place the bond on competitive terms. I am pleased that they chose TBC Capital as their partner for raising funds in foreign currency. As a result, 'Rico Express' was able to secure financial resources on improved terms, which is crucial for the development of their business. Through such transactions, we assist companies in diversifying their funding sources, expanding their investor base, and raising capital on competitive terms," stated Otar Sharikadze, Director of TBC Capital.Lasha Nikolaishvili, Chairman of the Supervisory Board of "Rico Express," noted that this is a very significant day for the company. He expressed gratitude to the National Bank for its support and highlighted the role of the NBG in achieving this result. "The role of the National Bank is noteworthy, as the country's reserves have reached unprecedented levels in recent years. These very factors have led to a decline in interest rates within the country," noted Lasha Nikolaishvili. He added that in the current climate, where global refinancing rates are rising the company successfully issued 3-year bonds at a rate of 7%. This achievement is unprecedented in the recent market landscape and signals both a stable domestic environment and strong investor confidence in the country and Georgian companies alike."Riko Express" has been operating in the Georgian market for nearly 30 years and holds a 47% market share, making it the leader in the microfinance sector.

1790334112

The meeting was held on the sidelines of the Regional Central Bank Governors’ Roundtable.The parties discussed prospects for further deepening cooperation between the two central banks. Particular attention was devoted to the development of payment systems and opportunities for sharing knowledge and practical experience in this area.The parties noted that continued dialogue and the exchange of information would contribute to the development of modern, efficient, and secure payment systems and financial services. During the meeting, the parties agreed to sign a Memorandum of Understanding.Ekaterine Galdava, Vice-Governor of the National Bank, attended the meeting with the Governor of the Central Bank of Bosnia and Herzegovina. 

1790166834

The meeting took place on the sidelines of the Regional Central Bank Governors’ Roundtable held in Tbilisi.The parties discussed prospects for further deepening cooperation between the two central banks. During the meeting, a Memorandum of Understanding was signed, establishing a new framework for the exchange of expertise and best practices.The Memorandum provides for cooperation and knowledge sharing in the areas of monetary policy, international reserve management, payment systems, financial services development, and the regulation and supervision of financial institutions.

1790166773

The Global Fintech Fest is a major international fintech event that brings together representatives of financial technology, the banking sector, regulatory institutions, investors and technology companies from around the world.As part of the event, Ekaterine Galdava participated as a speaker in the panel discussion titled “Building Trust in Cross-Border Payments.” The discussion focused on the development of secure, reliable, and efficient cross-border payments, including the interoperability of payment systems and improving the speed and transparency of payments. It also addressed strengthening links between payment infrastructures across different jurisdictions.Ekaterine Galdava presented Georgia’s experience and the implemented and ongoing reforms aimed at modernizing the country’s payment infrastructure. The discussion highlighted the implementation of the modern RTGS system, the transition to the ISO 20022 standard, the development of the instant payment system, and prospects for the future connectivity and interoperability of Georgia’s payment infrastructure with international systems.Natalia Chkoidze, Head of the Payment Systems Department of the NBG, and Natia Chkonia, Deputy Head of the Consumer Protection Department, also participated in the Global Fintech Fest.During the event, representatives of the NBG held high-level meetings with senior representatives of the Reserve Bank of India (RBI), NPCI International Payments Limited (NIPL), and PhonePe, one of India’s leading fintech companies. The meetings addressed current issues related to the development of payment systems, as well as opportunities for future cooperation and exchange of experience, particularly in the areas of instant and cross-border payments, modern payment infrastructure, and the development of innovative payment services.

1790166707