Renat Bekturov: Georgia Plays a Significant Role in Strengthening Financial Links Between Central Asia and Europe

The panelists discussed the development of payment infrastructure, the enhancement of cross-border financial services, and opportunities for connecting financial markets within the region.According to Nino Jeladze, fostering financial innovation, modernizing payment systems, and ensuring their interoperability are key priorities for the National Bank of Georgia. The Vice-Governor highlighted the steps taken by the National Bank to develop payment infrastructure, including the modernization of the Real-Time Gross Settlement (RTGS) system and the development of an instant payment system. “The development of innovations must be based on a clear and predictable regulatory framework that ensures the protection of consumer interests and the stability of the financial system,” noted Nino Jeladze.Nino Jeladze also spoke about the importance of regional cooperation regarding cross-border payments. According to her, growing trade and economic ties along the Middle Corridor create a need for faster, more efficient, and accessible financial services. In this process, cooperation among central banks, as well as the alignment of technical standards and regulatory approaches, is essential.The Vice-Governor also highlighted the potential of digital assets and stablecoins, which offer the possibility of accelerating cross-border settlements and reducing transaction costs. At the same time, their development requires an appropriate regulatory framework, transparency, and the protection of consumer rights. "Georgia has the opportunity to leverage its strategic location, regional partnerships, and modern financial infrastructure to play a significant role in connecting financial markets along the Middle Corridor. Our goal is to create an environment where financial technology companies have access to the necessary infrastructure, and where international investors and financial institutions have confidence in a transparent, secure, and predictable regulatory framework," noted Nino Jeladze.She further stated that close cooperation with the private sector is essential for the development of financial innovations; this will help strengthen competition, increase access to financial services, and foster the development of regional financial ties.Joining Nino Jeladze in the panel discussion were Leiming Chen, Senior Vice President and Chief Sustainability Officer at Ant International, and Tamar Tkeshelashvili, an independent member of the Supervisory Board of Neo Georgian Bank. The discussion was moderated by Pat Patel, a representative of the Global Finance & Technology Network (GFTN). The "Tbilisi Financial Summit" is held in collaboration with the National Bank of Georgia, the Ministry of Economy and Sustainable Development of Georgia, and the Global Finance & Technology Network (GFTN), serving as an important platform for international dialogue on financial technologies, innovation, and regional cooperation.

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The panel discussion was preceded by a presentation from Yang Jun, Executive Vice President of the Bank of China, regarding development trends in banking systems, payments, and financial technologies.Ekaterine Mikabadze identified a robust supervisory framework, sound financial indicators, and the ability to adapt to technological changes as the primary factors behind the success of Georgia’s banking sector. According to her assessment, maintaining financial stability, implementing innovations, and effectively managing risks are essential for the sustainable development of the sector over the coming decade.The panel focused on opportunities for the regional expansion of Georgia’s banking sector, as well as the challenges associated with this process. It was noted that successful operations in international markets require strengthening risk management at the group level, adapting to the regulatory requirements of various jurisdictions, and developing sustainable business models.Another key topic of discussion was the use of artificial intelligence and its impact on the banking sector. Ekaterine Mikabadze stated that new technologies enable financial institutions to improve operational efficiency, risk management, and customer service. Furthermore, alongside technological advancement, particular importance is placed on cybersecurity, data protection, and operational resilience. "Artificial intelligence offers the financial sector significant opportunities to improve operational efficiency, strengthen risk management, and provide better services to customers. However, alongside technological progress, special attention must be paid to cybersecurity, data protection, and operational resilience. Our goal is to foster responsible innovation and create a regulatory environment that enables financial institutions to adopt new technologies while maintaining financial stability and consumer trust," Mikabadze stated.Ekaterine Mikabadze emphasized that the National Bank’s approach is rooted in the promotion of responsible innovation. It is essential that financial institutions implement new technologies within the context of appropriate governance frameworks and risk management mechanisms. In this process, collaboration with the banking sector, the use of high-quality data, and timely dialogue with the regulator are of particular importance. The panel discussion featured Archil Gachechiladze, CEO of Bank of Georgia; Giorgi Tkhelidze, CEO of TBC Bank; Aleksi Khoroshvili, CEO of Silk Bank; and Vakhtang Babunashvili, CFO of Liberty Bank and representative of the Basisbank Group. The discussion was moderated by Maha El Dimachki, CEO of GFTN Solutions - a subsidiary of the Global Finance & Technology Network (GFTN).The "Tbilisi Financial Summit" is taking place on October 27–28, bringing together representatives from the financial sector, central banks, technology companies, and international organizations. The summit aims to address key issues concerning financial technology, regional cooperation, and the development of the financial sector.

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Bank of Georgia Group leads the ranking; as of Q3 2026, its ROE stands at 30.72%.Liberty Bank’s return on equity has decreased, a shift linked to a major consolidation within the sector (the Chinese Hualing Group is in the process of acquiring Liberty Bank).TOP 7 Banks by Return on Equity (ROE)9m/2026  Bank of Georgia 30,72% TBC Bank 23,96% Liberty Bank 13,51% BasisBank 17,67% Credo Bank 17,58% ProCredit Bank 11,35% Tera Bank 10,10%  Source: Commercial Banks

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The event was opened by Sopnendu Mohanty, Executive Director of the Global Finance & Technology Network (GFTN) based in Singapore. Welcoming remarks were delivered by the Prime Minister of Georgia, Irakli Kobakhidze; the Minister of Economy and Sustainable Development, Mariam Kvrivishvili; and the Governor of the National Bank of Georgia, Natia Turnava."For the second consecutive year, Georgia has been part of an international network that brings together the world's leading financial centers, including Singapore, Japan, and Switzerland. This is the result of successful reforms implemented by the Government of Georgia and the National Bank of Georgia," stated Natia Turnava, Governor of the National Bank of Georgia, at the opening of the summit.According to her, despite global challenges, Georgia has maintained financial stability and a high rate of economic growth. Over the past five years, the average annual economic growth has reached 9.3%, while international reserves have doubled in the last two years, reaching 8.14 billion USD. The reserve adequacy indicator has also improved; the metric defined by the IMF methodology (the ARA metric) significantly exceeds the 100% adequacy threshold, standing at 128.2%.Natia Turnava noted that the Georgian financial sector is characterized by high capitalization and strong liquidity buffers, which enhances its attractiveness to international investors. In 2025, the annual growth of foreign direct investment in the financial sector reached 18.7%.The main theme of the summit is the development of regional economic and financial corridors at the intersection of policy, finance, and technology. During the two-day event, participants will discuss central bank priorities, financial stability, digital assets, the future of payments, artificial intelligence, and the cybersecurity of financial systems.The Governor of the National Bank of Georgia will participate in a high-level panel discussion titled "Central Bank Priorities for 2027."The "Tbilisi Financial Summit" serves as a significant platform for strengthening Georgia's position within the international financial and technological ecosystem, deepening cooperation with international partners, and showcasing investment opportunities.The summit is jointly organized by the National Bank of Georgia, the Ministry of Economy and Sustainable Development of Georgia, and the Singapore-based Global Financial and Technology Network (GFTN).

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Sopnendu Mohanty highlighted the role of the National Bank of Georgia in fostering financial innovation, noting that the country is already taking significant steps toward modernizing its financial system through the implementation of open banking. In his assessment, Georgia has the opportunity to build upon this experience and advance to the next stage of financial technology development."Open banking, regulatory sandboxes, digital banks, the digital Lari, you are not merely implementing technology; you are creating it. Yet, technology is not the end goal. The goal is a financial system that is productive, sustainable, and trustworthy. While technology defines the capabilities of finance, trust determines how far it can go. Let us make Tbilisi the place where these two converge," stated Sopnendu Mohanty.Speaking on Georgia’s development prospects, the Executive Director of the GFTN Group noted that three areas will be of particular importance for the further development of Georgia’s financial sector: artificial intelligence, tokenization, and quantum technologies.Regarding artificial intelligence, he pointed out that the development of this technology is entering a new phase - one where AI does not just process information and answer questions, but also acts independently. According to his assessment, the use of artificial intelligence in the financial sector will facilitate the rapid detection of fraud, more accurate risk assessment, and improved services for customers. At the same time, it is essential to have appropriate regulatory frameworks in place that ensure both the development of innovation and the security of the financial system.Sopnendu Mohanty identified tokenization as another key area. He explained that a tokenized financial market enables the instantaneous settlement of money and assets. He noted that Georgia took steps toward digital currency at an early stage, and expressed hope that the country would leverage this experience to develop a fully-fledged tokenized market."Value grows when we share it, and Georgia lives by this principle," stated the Executive Director of the GFTN group.

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The lari-zation ratio for the total portfolio stands at 57.04% (compared to 50.77% the previous year). Dollarization has decreased to 43%; however, if the 7.1 billion GEL government portfolio is excluded, the figure exceeds 47%.According to the National Bank of Georgia (NBG), the weighted average annual market interest rate on term deposits in September was 7.10%. Specifically, the rate was 8.66% for deposits in the national currency and 2.40% for deposits in foreign currency.

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According to the National Bank of Georgia (NBG), the portfolio denominated in Georgian Lari (GEL) increased by 796.7 million GEL, while the foreign currency-denominated portfolio rose by 892.6 million GEL.As of October 1, 2026, the banking sector has extended 33.67 billion GEL in loans to legal entities, with more than 66% of this amount denominated in foreign currency.The volume of retail loans stands at 41.9 billion GEL (+16.8% year-on-year).The "larization" (share of GEL-denominated loans) of the total loan portfolio is 58.54% (compared to 58.2% the previous year).

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The procurement concerns 8–9 meter-long, low-floor, diesel-powered buses, designed to accommodate at least 50 passengers and adapted for persons with disabilities. The interiors will be equipped with heating and air conditioning systems, USB ports, and information monitors.The buses are to be delivered to Rustavi in ​​stages within 240 calendar days of the signing of the contract. The submission period for bids in the tender will open on October 29 and close on October 30.

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