Finance

Liberty will be acquired by a Chinese bank

1755254720

Tbilisi (GBC) – According to the National Bank of Georgia (NBG), the acquisition of up to 96% of Liberty Bank’s shares by Basisbank is compatible with a competitive market environment. The concentration does not significantly restrict competition.

Based on the August 1 decision by NBG’s Competition Committee, after the share acquisition, Liberty will continue operating in its current organizational and legal form, as a subsidiary of Basisbank. The merger process is expected to take 9–12 months.

The NBG decision notes that the main income sources for both Basisbank and Liberty stem from lending activities. After the merger, their combined market share will not exceed 10.2%.

Under legal regulations, a market concentration of up to 15% is considered acceptable. According to NBG, the Herfindahl-Hirschman Index (HHI) will increase by only 50.5 points, which is deemed an allowable change.

The parties submitted the merger application to the regulator on July 8.

სიახლეები ამავე კატეგორიიდან

1755255020

Silk Bank remains in losses

1755094874

Cartu Bank’s Profit Increased

1755094193

The National Bank of Georgia fined "Silk Bank"

1754999018

Over 600,000 Transfers Registered Monthly in Creditinfo

1754998484

In July, the pension fund's portfolios continued to grow steadily

1754998125

The volume of pension assets is ₾7.2 billion

Other news

Foreign Direct Investment Decreased by 18.6%

Geostat also revised the FDI figures in Georgia starting from 2020. Accordingly, the table below presents the updated data and the main reasons behind the respective changes.In 2024, reinvestments accounted for 85.8% of total Foreign Direct Investment (FDI) in Georgia.According to revised data, the share of the three largest investor countries made up 54.4% of total FDI in 2024.The United Kingdom ranked first with 27.5% ($431.1 million), followed by the Netherlands with 14.7% ($230.9 million), and Malta with 12.2% ($191.7 million).In terms of sectors, the top three accounted for 60.2% of total FDI in 2024.The financial and insurance sector received the most investment, totaling $579.5 million or 36.9% of total FDI.It was followed by the manufacturing sector with $183.6 million (11.7%), and the real estate sector with $182 million (11.6%).

1755255191

Silk Bank remains in losses

In the one year since its rebranding, the bank’s loan portfolio has surpassed 115 million GEL (July 1, 2024 – 93 million, +27% Y/Y).Silk Bank’s mid-term goal (3 years) is to grow its Monthly Active Users (MAU) to 300,000.As of August 1, 2025, the loan portfolio dollarization stands within the 20–30% range. In term deposits (totaling 109.3 million GEL), the share of foreign currency (15.1 million GEL) does not exceed 14%.Financial overview: Silk Bank(7M 2025 vs. 7M 2024)Amounts in million GEL.Indicator: 7M 2025 7M 2024Assets: 210.2 204.3Loans: 117.8 93.07of which, Retail: 52.7 21.7Deposits: 132.9 124.0Shareholders’ Equity: 66.8. 57.3Net Loss (Profit): -13.02. -2.07 Source: Commercial Bank

1755255020

Venice – a new destination from Kutaisi International Airport

The most environmentally sustainable airline in Europe, Wizz Air, will operate twice-weekly flights on the Venice–Kutaisi–Venice route using Airbus A321neo aircraft, with flights scheduled on Tuesdays and Saturdays. Intensive negotiations between United Airports of Georgia and the airline have concluded successfully. Tickets are already available for purchase on the airline’s website.At the beginning of the summer navigation season, Wizz Air restored its routes from Kutaisi to Madrid and Hamburg, and in June it launched a completely new route to Lyon, with twice-weekly direct regular flights.Since 2022, the airline has maintained its leading position in Georgia’s aviation market. According to data from the first seven months of 2025, Wizz Air served nearly 900,000 passengers in Georgia. During the same period alone, the airline operated around 4,800 flights to and from Kutaisi, representing a 9% increase compared to the same period last year.Currently, Wizz Air operates flights from Kutaisi International Airport to 24 destinations across 13 countries in Europe and the Middle East.

1755179293

Cartu Bank’s Profit Increased

As of August 1, 2025, the bank’s loan portfolio exceeds 1 billion GEL, with approximately 60% — equivalent to 612 million GEL — issued in foreign currencies (USD and EUR).In terms of deposits, more than 81.5% (over 1.003 billion GEL) are foreign currency deposits. Over half of the deposit portfolio consists of current accounts. Time deposits also show a high dollarization rate, with a coefficient of around 80%.Cartu Bank is associated with the Ivanishvili family.

1755094874

The National Bank of Georgia fined "Silk Bank"

The reason for the fine was four instances of incorrect submission of documentation requested by the NBG.So far this year, four commercial banks have been fined under the "Law on Facilitating the Prevention of Money Laundering and Terrorism Financing" — including digital "Paysera", "Ziraat Bank", and "Isbank", with total fines amounting to 116,000 GEL.According to the NBG, in 2024, it has also fined two other banks — Bank of Georgia and Basisbank — with total fines amounting to 127,800 GEL.

1755094193

Over 600,000 Transfers Registered Monthly in Creditinfo

The average monthly traffic is approximately 600,000 transactions, amounting to nearly 300 million USD. In July, 620,000 transfers were registered, and in June, 635,000.According to the National Bank of Georgia, the inclusion of remittance data in the Creditinfo database was intended to improve access to loans. However, most individuals who rely on money sent from abroad still remain unable to access credit. Remittance data has been included in the Creditinfo database since spring 2023.Some banks offer remittance-backed loans, but in practice, only two banks are actively issuing them: Bank of Georgia and TBC Bank.

1754999018

In July, the pension fund's portfolios continued to grow steadily

"Despite the weakness of global markets and the trend of the Georgian lari strengthening against the US dollar — which reduces the profitability of assets denominated in foreign currency — July’s positive performance was mainly driven by the high and stable returns of assets denominated in the local currency," the Pension Fund noted.In July, the conservative portfolio recorded the highest growth at 0.62%, followed by the balanced portfolio with 0.51%, and the dynamic portfolio with 0.20% growth.It’s also worth noting that the Consumer Price Index (CPI) decreased by 0.17% in July, which had a positive impact on the real returns of the portfolios.Although July was relatively weaker for the dynamic portfolio, it remains the top performer in terms of year-to-date profitability. Nonetheless, all three portfolios maintain a relatively high rate of return: Conservative – 6.00% Balanced – 6.50% Dynamic – 7.08% For reference, the dynamic portfolio also leads in terms of long-term profitability. Since the portfolios were launched (on August 6, 2023), its annualized return stands at 13.3%, compared to 12.5% for the balanced and 11.5% for the conservative portfolio.As of the end of July, the Pension Fund’s total assets exceeded ₾7.2 billion, and the generated returns surpassed 1.8 billion GEL.

1754998484

The volume of pension assets is ₾7.2 billion

As of July 31, 2025, a total of 21,972 citizens have benefited from the funded pension system, and ₾95.4 million has been disbursed to them in the form of pension payments.

1754998125

Liberty will be acquired by a Chinese bank

1755254720 • Finance

Popular

Four pharmaceutical companies fined with GEL 560,000 for high price in...

1754561716

Lion Finance is considering a possible acquisition of a stake in HSBC...

1754389094

Renowned Georgian film director Eldar Shengelaia dies at 92

1754304641

Gilauri plans to sell 20% of his shares in GCAP

1754648933

Liberty will be acquired by a Chinese bank

1755254720

Politics

1754562544

British Ambassador: UK continues to call on Russia to respect August 2...

According to the ambassador, the United Kingdom continues to call on Russia to respect the August 2008 ceasefire agreement.“Our support for Georgia’s sovereignty and territorial integrity remains unwavering. This August marks one year since I began my duties as Her Majesty’s Ambassador to Georgia. During this period, I visited the village of Ergneti, which is located near the administrative boundary line with South Ossetia, and also visited the Enguri Bridge, which crosses the Rioni River toward Abkhazia. I had the opportunity to speak directly with people affected by the conflict, with Women Ambassadors for Peace who live in villages near the administrative line, as well as with young people from the Gali region. I witnessed firsthand the impact of the war-divided society on people’s daily lives.For more than 30 years, the United Kingdom has worked with Georgia toward peaceful conflict resolution and preventing escalation. The UK wants to see a successful, united Georgia that can freely choose its security partners. We regret Georgia’s government’s criticism of European efforts to restrain Russian aggression in Ukraine and Europe,” Gareth Ward added.It has been 17 years since the 2008 Russo-Georgian War. On August 7, 2008, separatist forces commenced intense shelling of Georgian villages, prompting a response from Georgian forces. The following day, Russian occupation troops entered the region. As a result of Russia’s military aggression against Georgia, 411 people lost their lives, approximately 130,000 citizens became IDPs in their own country, numerous villages were destroyed, and the city of Gori, along with strategic facilities, were heavily bombed. Russia continues to occupy 20 per cent of Georgia’s territory to this day.

1754562319

US Embassy: 17 years since Russia's invasion of Georgia. We reaffirm o...

“We stand in solidarity with the Georgian people and reaffirm our unwavering support for Georgia’s sovereignty and territorial integrity,” reads the statement.It has been 17 years since the 2008 Russo-Georgian War. On August 7, 2008, separatist forces commenced intense shelling of Georgian villages, prompting a response from Georgian forces. The following day, Russian occupation troops entered the region. As a result of Russia’s military aggression against Georgia, 411 people lost their lives, approximately 130,000 citizens became IDPs in their own country, numerous villages were destroyed, and the city of Gori, along with strategic facilities, were heavily bombed. Russia continues to occupy 20 per cent of Georgia’s territory to this day.

1754562159

German Embassy: Germany calls on Russia to fully fulfill obligations o...

“The Federal Republic of Germany supports Georgia’s national sovereignty and territorial integrity within its internationally recognized borders. The unilateral recognition of Georgia’s separatist regions of Abkhazia and South Ossetia by the Russian Federation and other states is unacceptable. Germany calls on Russia to fully fulfill the obligations outlined in the August 12 and September 8, 2008 agreements,” reads the statement.It has been 17 years since the 2008 Russo-Georgian War. On August 7, 2008, separatist forces commenced intense shelling of Georgian villages, prompting a response from Georgian forces. The following day, Russian occupation troops entered the region. As a result of Russia’s military aggression against Georgia, 411 people lost their lives, approximately 130,000 citizens became IDPs in their own country, numerous villages were destroyed, and the city of Gori, along with strategic facilities, were heavily bombed. Russia continues to occupy 20 per cent of Georgia’s territory to this day.

1754561893

EU Spokesperson: EU calls on Georgian government to release Mzia Amagl...

According to the statement, the EU calls on the Georgian authorities to “release Mzia Amaglobeli, as well as those unjustly detained.”“Media freedom and the right to freedom of expression are cornerstones of any democratic society. Journalists must be able to carry out their vital work without fear of persecution or undue restraint. The actions of the authorities targeting and silencing independent media undermine the very foundation of democracy, contradict Georgia’s international obligations and run counter to the European aspirations of the Georgian population.We call on the Georgian authorities to release Mzia Amaglobeli, as well as those unjustly detained, and to uphold and ensure the right to a fair trial, as a fundamental principle of justice and a key pillar of democratic governance.The EU stands with the Georgian people and their European aspirations and remains steadfast in its commitment to support civil society and independent media,” reads the statement released by the EU Delegation to Georgia.Batumi City Court sentenced Mzia Amaglobeli, founder of the Batumelebi and Netgazeti media outlets, to two years in prison.

1754388955

We need the MEGOBARI Act! - Joe Wilson

"For 250 consecutive days, the brave Georgian people have protested against the anti-American Georgian Dream regime. They demand an end to this regime’s total sellout of their country to Communist China, the terrorist regime in Tehran, and war criminal Putin. We need MEGOBARI!” writes Joe Wilson. For 250 consecutive days, the brave Georgian people have protested against the anti-American Georgian Dream regime. They demand an end to this regime’s total sellout of their country to Communist China, the terrorist regime in Tehran, and war criminal Putin. We need MEGOBARI! — Joe Wilson (@RepJoeWilson) August 4, 2025 In the process of protesting the results of the parliamentary elections of October 26, 2024, people began to take to the streets en masse after the Georgian Dream removed the issue of EU accession negotiations from the agenda for 4 years, until the end of 2028.More than 250 days have passed since then. Protests on the streets of Tbilisi and several major cities in Georgia have not yet subsided.Protesters accuse the government of stalling the European integration process and, along with new parliamentary elections, demand the release of political prisoners.