NBG replenishes foreign exchange reserves by $266.4 million

Gela Geladze's career: 2023 - 2024 - He was the Deputy Minister of Education, Science and Youth of Georgia; 2018 - 2023 - Head of the Mandatory Service of the Educational Institution of the Ministry of Education and Science of Georgia; 2016-2018 - Head of the Central Criminal Police Department of the Ministry of Internal Affairs of Georgia, Division; 2012-2016 - Deputy Head of the National Probation Agency of the Ministry of Corrections and Probation of Georgia; 2010-2012 - Deputy Head of the Mandatory Service of the Educational Institution of the Ministry of Education and Science of Georgia. Former Minister of Internal Affairs and Vice Prime Minister Vakhtang Gomelauri resigned from his position today, May 28, based on his own will.

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The NBG reports that, as of April 2025, the banking sector maintains healthy capital and liquidity indicators. Compared to the previous year, credit activity has gradually normalized, with the annual growth of loans—excluding exchange rate effects—reaching 15.5% in April 2025.“The National Bank remains committed to reducing structural risks associated with high levels of dollarization in the economy. Despite significant progress in decreasing dollarization through measures implemented by the NBG, the associated structural risks continue to pose considerable challenges for the financial sector. In line with its long-term de-dollarization policy, the National Bank, in coordination with industry stakeholders and considering macroeconomic conditions and risks, continues to implement these measures. As part of this policy, the limit on unhedged foreign currency loans has been increased from GEL 500,000 to GEL 750,000,” the NBG stated.The next meeting of the Financial Stability Committee is scheduled for October 1, 2025.

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TBC Capital predicts that the FMCG and HORECA industries are expected to maintain sustainable growth rates in the coming years.“While domestic beer production volumes remained largely unchanged in 2024, price changes significantly increased the value of manufactured goods.The annual figures also show increased demand for imported beer.The increased domestic demand, especially for imported beer, is reflected in a significant increase in imports and a decrease in exports,” the study says.In more detail, according to the study, in 2024, local beer production in Georgia increased by 1% compared to the previous year and amounted to 127 million liters, and the average price per liter was 2.8 GEL. As for consumption, according to the study, in 2024, 138 million liters of beer were brewed in Georgia, of which 87% came from local production and only 13% from imports. In 2023, consumption was 125 million litres, of which 10% came from imports.In addition, according to TBC Capital, imports last year amounted to 15.5 thousand tons, which is 3.8 thousand tons more than in 2023. The export rate decreased by a thousand tons, from 6.9 thousand tons to 5.9 thousand tons.

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Lion Finance Group (BGEO LN) shares closed at GBP 66.85/share (+5.03% w/w and +17.90% m/m). More than 251k shares traded in the range of GBP 64.00 - 67.75/share. Average daily traded volume was 65k in the last 4 weeks. The volume of BGEO shares traded was at 0.57% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 45.80/share (+0.88% w/w and +1.78% m/m). More than 242k shares changed hands in the range of GBP 43.75 - 46.45/share. Average daily traded volume was 93k 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 19.02/share (+1.49% w/w and +24.15% m/m). More than 163k shares traded in the range of GBP 18.44 - 19.54/share. Average daily traded volume was 99k in the last 4 weeks. The volume of CGEO shares traded was at 0.41% of its capitalization.

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Compared to the corresponding quarter of the previous year, the Unit Value Index of Agricultural Products increased by 13.3%. The latter was largely caused by the 51.6% increase in the unit value of non-perennial crops, which contributed 9.09 percentage points to the total index change.In the same period, the unit value of perennial crops went down by 2.6 percent and went up by 10.2% for live animals and animal products, with the relevant contribution of -1.16 and 5.39 percentage points to the total index change, respectively.

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According to the survey results, the main source of household income is cash incomes and transfers. In 2024, this share increased by 2.7 percentage points compared to the previous year, amounting to 90.4 percent. The figure was 94.9 percent in urban areas and 81.7 percent in rural areas.The average monthly income per household in urban areas increased by 12.6 percent, amounting to 1 978 GEL, while in rural areas it increased by 5.5 percent, equaling 1 755 GEL.In the structure of cash incomes and transfers, the largest share is held by incomes received from wages, which decreased by 0.3 percentage points compared to the previous year, reaching 47.6 percent. The share of self-employment income increased by 0.9 percentage points, amounting to 12.7 percent. The share of income from pensions, scholarships, and social assistance increased by 0.4 percentage points, reaching 22.3 percent. The structure of cash incomes and transfers differs between urban and rural settlements.In 2024, the average monthly expenditures per household in Georgia increased by 5.2 percent compared to the previous year, reaching 1 736 GEL, while the average monthly expenditures per capita increased by 8.2 percent, amounting to 540 GEL.According to the survey results, in 2024, the share of household cash consumption expenditure in total expenditures decreased by 0.4 percentage points compared to the previous year, amounting to 69.9 percent.The average monthly expenditures per household in urban areas increased by 6.3 percent, amounting to 1,813 GEL, while in rural areas it increased by 3.4 percent, equaling 1,603 GEL.In the structure of cash consumption expenditure, the largest share is held by expenditures on food, beverages and tobacco, which decreased by 0.5 percentage points compared to the previous year, reaching 38.1 percent. The structure of cash consumption expenditure differs between urban and rural settlements.

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The main supplier of wine to the United States is traditionally France. In 1Q25, $761.6 million worth of wine was imported from France to the United States.Italy is in second place ($578 million), and New Zealand is in third place ($130.7 million).According to AAWE, Israel (in 11th place with $13.1 million) and Moldova (in 12th place with $8.3 million) are also among the Top-20 wine suppliers to the United States.On April 2, the United States announced large-scale trade tariffs. The 10% tariffs affected a portion of Georgia's exports, including wine, which came into effect on April 5, 2025.For reference, in 2024, the US imported $141 million worth of Georgian goods, including $7.1 million in wine exports.

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A final dividend may only be paid after it has been approved by shareholders. The Board recommends a final dividend for the year ended 31 December 2024 of GEL 5.55 per ordinary share of the Company payable in British Pounds Sterling.The Georgian Lari to Pound Sterling exchange rate that will apply to the final dividend payments on the conversion date of 13 June 2025 will be  the  average exchange rate of the National Bank of Georgia for the period from 9 June 2025 to and including 13 June 2025 (5 days average). Subject to approval by shareholders, the final dividend will be paid on 11 July 2025 to shareholders on the register of members at 6:00 pm (London time) on 6 June 2025.The decision was supported by 100% of shareholders - 39,981,537 shares, with no votes against. 71.13% of the company's issued shares participated in the vote.The Group's AGM was held in London on 20 May 2025.

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