The NBG Successfully Migrates to SWIFT’s ISO 20022 International Standard

The NBG notes that international currency reserves are an important guarantor of the country's macroeconomic stability. Accordingly, as of the regulator, the NBG is always focused on replenishing reserves, which is confirmed by the bank's stated policy. When the market allows, the National Bank increases the country's international reserves.In addition, the foreign exchange interventions carried out by the NBG in 2025 look like this: January-February - No net purchase through Bmatch March - Net purchase through Bmatch $101.7 million April - Net purchase through Bmatch $266.4 million May - Net purchase through Bmatch $245.4 million June - Net purchase through Bmatch $266 million July - Net purchase through Bmatch $416.9 million August - Net purchase through Bmatch - $199.6 million September - Net purchase through Bmatch - $100 million October - Net purchase through Bmatch - $167.4 million The National Bank of Georgia's operations in the foreign exchange market will publish updated data on December 25, 2025.

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“The tender announced for the purchase of freight gondolas is the first result of the optimization carried out in the company - Georgian Railways plans to purchase the wagons with the saved funds. It is worth noting that a large part of the existing wagon and locomotive fleet is outdated in terms of technical parameters and condition and requires renewal/modernization. We will work actively for this purpose. This initiative is aimed at optimizing the transport and logistics direction of Georgia and increasing its throughput, as well as the efficiency of the railway,” Lasha Abashidze noted.It is worth noting that the addition of gondolas is critically important for the wagon fleet of Georgian Railways due to the high demand for them, gondolas are important in the working process of local production.According to the tender documentation announced by Georgian Railway, the service life of the wagons has been determined to be at least 22 years, and the design speed should not be less than 120 km/h. It is also important that the proposed wagons will be built no earlier than 2025, should not have been in operation and should not have participated in loading/unloading operations. In addition, the wagons should be able to carry at least 69 tons of cargo.The estimated cost of the purchase is 20,142,312 GEL. The tender will start on December 10, 2025 and end on December 12.

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Lion Finance Group (BGEO LN) shares closed at GBP 83.30/share (+5.04% w/w and +10.77% m/m). More than 227k shares traded in the range of GBP 76.65 - 84.45/share. Average daily traded volume was 44k in the last 4 weeks. The volume of BGEO shares traded was at 0.52% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 37.60/share (unchanged w/w and -11.01% m/m). More than 418k shares changed hands in the range of GBP 36.15 - 37.95/share. Average daily traded volume was 133k in the last 4 weeks. The volume of TBCG shares traded was at 0.75% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 26.10/share (+4.19% w/w and +7.85% m/m). More than 190k shares traded in the range of GBP 24.40 - 26.15/share. Average daily traded volume was 36k in the last 4 weeks. The volume of CGEO shares traded was at 0.54% of its capitalization. 

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An agreement has been signed between China Railway Container Transport (CRCT) and Middle Corridor Multimodal Ltd, a joint venture of the Georgian, Azerbaijan, and Kazakh railways, eadaily.com’s Caucasus Bureau reports.The agreement was signed during the Second International Forum on Railway Cooperation “China-Europe” in the Chinese city of Xi’an.

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The annual rate of the loan unsubordinated bonds is TIBR 1D + 2.80-3.20% All overnight TIBR rates recorded during the calculation period will be sorted in ascending order Then the lowest and highest 10% indicators will be cut off The remaining data will be used to calculate the arithmetic mean The above-mentioned spread of 2.80-3.20% will be added to the obtained value Microfinance Organization (MFO) activities Pawnshop loans Remittances Conversions Promissory notes Out of the 200 million raised, 130 million MFO will be needed to refinance the previous issue and will be repaid ahead of schedule (the maturity date is 17.03/2026). The remaining is for credit resources. The combination of refinancing and targeted portfolio growth simultaneously serves both Rico's short-term financial objectives and long-term goals.MFO Rico is the largest in the market, with a credit portfolio of 798 million GEL and assets of up to 940 million GEL. With more than 1.5 million clients and more than 70 branches (as of 9M2025).

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The change was mainly due to a 24.2 percent decrease in the unit value of nonperennial crops, which contributed -6.1 percentage points to the total index change. Compared to the corresponding quarter of the previous year, the Unit Value Index of Agricultural Products increased by 11.3 percent.The latter was largely caused by the 9.3 percent increase in the unit value of live animals and animal products, which contributed 5.19 percentage points to the total index change. In the same period, the unit value of perennial crops went up by 9.4 percent, and by 23.2 percent for non-perennial crops, with the relevant contribution of 2.13 and 3.98 percentage points to the total index change, respectively.

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Return on Equity (ROE) stood at 27.8%.The group’s loan portfolio reached GEL 37.93 billion as of September 30, 2025 (up 21.7% year-on-year in constant currency). The growth was driven by strong loan growth in both its Georgia (GFS) and Armenia (AFS) operations, the group said.For the same period, Bank of Georgia's digital MAU (monthly active users) in the retail segment amounted to 1.7 million people (up 14.7% y-o-y), while Ameriabank's - 305 thousand people (up 62.7% y-o-y).As a reminder, the Board of Directors declared an interim dividend of GEL 2.65 per ordinary share for the quarter ended September 30, 2025, and at the same time approved an increase in the share buyback and cancellation program by GEL 51.5 million.

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According to Papuashvili, several legislative initiatives have been developed in consultation with the government, which will be tabled at today’s session of the Parliamentary Bureau. The Parliament plans to adopt these amendments by the end of the year.“I would remind the public that in November 2006, under the United National Movement government, unconstitutional elections were held in the Tskhinvali region, resulting in the proclamation of a so-called president of South Ossetia and the formation of a so-called alternative South Ossetian government. Through this action, the government of the day granted indirect legitimacy to separatist processes, an egregious and grave betrayal of Georgia’s state interests.Several months later, a Temporary Administrative-Territorial Unit Administration was established in June 2007, once again in breach of the Constitution, based on the very same unconstitutional ‘alternative government’. This decision artificially restored the administrative boundaries of the South Ossetian Autonomous Region, which had been abolished in 1990. This move later became one of the key factors enabling the 2008 Russian military aggression and the occupation of Georgia’s historic region of Samachablo.From today’s perspective, it is evident that these decisions were part of an external power’s geopolitical manoeuvre, with Georgia cast as a sacrificial pawn. The policies implemented under Saakashvili’s leadership provoked an escalation in the region and ultimately drove the country towards war.Against this backdrop, members of Georgia’s Parliament have assessed this decision as gross treachery against Georgia’s national interests, a view reflected in the constitutional lawsuit demanding that the United National Movement be declared unconstitutional. It must be emphasised that at a time when Georgia has spent years working to strengthen its policy of non-recognition, the United National Movement regime’s use of the term ‘South Ossetia’, even indirectly, was from the outset a betrayal of the Constitution and national interests. No ‘South Ossetia’ exists within Georgian legal or political space whatsoever.Accordingly, following consultations with the government, we have decided to abolish the administration of the administrative-territorial unit established on the territory of the former South Ossetian Autonomous Region.I should emphasise that the municipalities of Akhalgori, Kurta, Tighvi, and Eredvi will remain operational. These were elected in 2006 in full accordance with the Constitution. They represent the only legitimately elected and functioning government in the Tskhinvali region and thus constitute the sole lawful continuation of Georgia’s legal and constitutional framework,” declared Papuashvili.

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