Lion Finance Group (BGEO LN) shares closed at GBP 92.95/share (- 5.25% w/w and -9.32% m/m). More than 1.17mn shares traded in the range of GBP 90.85 - 100.50/share. Average daily traded volume was 112k in the last 4 weeks. The volume of BGEO shares traded was at 2.70% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 40.15/share (- 4.63% w/w and -13.93% m/m). More than 398k shares changed hands in the range of GBP 40.00 - 43.25/share. Average daily traded volume was 71k in the last 4 weeks. The volume of TBCG shares traded was at 0.71% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 34.50/share (-1.15% w/w and +1.47% m/m). More than 297k shares traded in the range of GBP 34.45 - 37.00/share. Average daily traded volume was 64k in the last 4 weeks. The volume of CGEO shares traded was at 0.85% of its capitalization. 

1774869217

Open Banking allows users to decide who they share their financial data with, when, and to what extent, while also enabling them to securely initiate payments from their preferred platforms. Data sharing and related services are carried out via standardized APIs, based on the user’s explicit and informed consent.The development of a modern digital financial ecosystem is one of the key priorities of the National Bank of Georgia (NBG), with Open Banking at its core. The foundation for this infrastructure was laid in the summer of 2019, followed by the establishment of a standardized framework that ensured the availability of account information sharing and payment initiation services through secure API channels. The system became operational in 2021, when commercial banks joined and began offering customers new products based on these services. In July 2024, the ecosystem expanded beyond the traditional banking sector. At that point, the first non-bank entity was authorized by the NBG to participate in Open Banking.Key indicators from the past year highlight this upward trend: 915,000+ transactions have been initiated through Open Banking. This reflects growing user trust in fast and secure payment methods and confirms that Open Banking is becoming an integral part of everyday financial life. 5,000+ uses of account information, payment initiation, and digital onboarding services. This reflects stable demand for innovative solutions that enable users to manage and control their finances more efficiently. 9.3 million+ total uses of Open Banking services. This scale demonstrates that the system has evolved into a solid and reliable foundation, ensuring the seamless operation of everyday digital financial services. Business interest in Open Banking opportunities is growing significantly. The ecosystem is not limited to traditional financial institutions and fintech companies it also creates new opportunities for the broader business sector, including retail and e-commerce.Both regulated entities of the NBG and organizations that were not previously subject to its supervision can participate in Open Banking. Upon meeting the relevant requirements, retail and other non-financial sector companies are able to provide Account Information Services (AIS) and Payment Initiation Services (PIS). In practice, this means that businesses can directly implement modern, fast payment methods on their own platforms. Since a transaction initiated through Open Banking is essentially an Account-to-Account payment, it significantly reduces the need for traditional intermediaries. As a result, businesses benefit from the advantages of an open ecosystem lower operational costs and increased security.For detailed information on the integration of Open Banking in e-commerce and the new advantages created for businesses, please refer to the NBG’s article: Open Banking in E-commerce: New Opportunities and Development Perspectives.Organizations wishing to join Open Banking should follow the “Regulation on Joining Open Banking.” Additional information on the regulatory framework is available on the website of the National Bank of Georgia.Those interested in Open Banking can contact the Innovation Office of the National Bank of Georgia at: innovationoffice@nbg.gov.ge.

1774607787

The event is attended by more than 250 delegates from 30 countries and 100 different institutions.As Natia Turnava noted in her speech, holding an event of this scale in Georgia once again emphasizes the growing role of Georgia as a financial center of the region.According to her, this interest is based on the country's strong macroeconomic fundamentals and a solid financial sector. According to Natia Turnava, over the past few years, despite the highly uncertain global environment, the Georgian economy has maintained stability. Real GDP growth has been strong; it reached almost double digits in 2023-2024, and averaged 7.5% in 2025.“Georgia’s banking system remains solid and resilient, well-capitalized, maintains strong liquidity buffers, and demonstrates solid profitability. As of February 2026, return on equity stood at 22.4%, while asset quality remains high. The non-performing loan ratio remains at a historically low level of only 2.47%. Credit activity continues to expand in line with economic growth. In February 2026, the annual growth rate of the credit portfolio reached 14.3%, mainly driven by lending in the national currency,” the NBG President noted, underlining the increased confidence in the national currency, which is supported by the increased rate of larization.According to the President of NBG, a strong financial sector, supported by a modern regulatory framework, attracts the interest of international investors, and these efforts are recognized internationally."S&P Global Ratings" emphasizes that Georgia's banking regulation is one of the most advanced in the region, and the quality of our assets is among the best. The strong indicators of the financial sector, together with solid macroeconomic fundamentals and an open, business-friendly environment, create a supportive foundation for international investors and companies, and we welcome global players to our market," - noted Natia Turnava.

1774607156

In February, compared to the previous month, term deposits increased by GEL 1.22 billion, or 3.85% (excluding the exchange rate effect, they increased by 4.13%), while demand deposits decreased by GEL 190.36 million, or 0.54% (excluding the exchange rate effect, they decreased by 0.09%).According to the NBG, the larization coefficient of deposits amounted to 54.03% as of the end of February 2026. Compared to the end of the previous month, the larization of deposits increased by 1.41 pp (excluding the exchange rate effect, it increased by 1.21 pp).In February, the average annual weighted market interest rate on term deposits amounted to 7.17%. Among them, 9.14% was on deposits placed in national currency, and 2.35% on deposits placed in foreign currency.The share of US dollars in deposits placed in foreign currency was 77.62%, and the share of EUR was 20.46%.

1774526714

During the same period, compared to the previous month, the volume of loans issued in the national currency increased by GEL 530.64 million (1.31%), while the volume of loans issued in foreign currency increased by GEL 123.99 million (0.41%) (excluding the exchange rate effect, increased by 1.32%).At the end of February 2026, commercial banks had issued loans to resident legal entities in the national currency of GEL 10.77 billion (0.81% more than the previous month), and in foreign currency of GEL 20.31 billion (0.39% more than the previous month) (excluding the exchange rate effect, increased by 1.27%).According to the data, during February 2026, the volume of lending to the resident household sector increased by 0.95%, or GEL 351.47 million, and amounted to GEL 37.17 billion by the end of February.In addition, by the end of February 2026, the larization ratio of total loans amounted to 57.78%. Compared to the end of the previous month, it increased by 0.22 pp. (unchanged after excluding the exchange rate effect).

1774526658

The NBG President briefed the mission members, led by Alejandro Hajdenberg, on the country’s macroeconomic situation, macroeconomic forecasts, and the current state of financial stability. Special attention was paid to global challenges, including the ongoing geopolitical situation in the Middle East.It was noted that Georgia faces these existing challenges against the backdrop of strong macroeconomic fundamentals. Furthermore, the scale, intensity, and duration of the spillover effects of these processes on the Georgian economy depend significantly on the further development of events.The objective of the current IMF mission is to review the existing macroeconomic situation in Georgia, as well as the country’s fiscal and monetary policies.The meeting with the International Monetary Fund mission was also attended by the Vice Presidents of the National Bank of Georgia, Ekaterine Mikabadze, Ekaterine Galdava, and Nino Jeladze, alongside Executive Director Beka Dochviri, the IMF Resident Representative in Georgia, Andrew Jewell, and the heads of various departments of the NBG.Within the framework of the visit, the IMF mission is scheduled to hold working meetings with the Macroeconomics and Statistics, Financial Stability, Financial Markets, Specialized Risks, and other departments of the NBG.

1774526517

The NBG reported that in February 2026, the NBG’s net purchases reached USD 429.3 million, while the country’s international reserves amounted to USD 6.65 billion.The NBG reconfirmed that international foreign exchange reserves serve as a vital safeguard for the country’s macroeconomic stability. Accordingly, the NBG consistently prioritises replenishing reserves, a commitment reflected in its stated policy. When market conditions permit, the Bank actively increases the country’s international reserves.Furthermore, the foreign exchange interventions conducted by the NBG in 2026 are as follows: January–February – USD 515.9 million net purchases through Bmatch. January – USD 86.6 million, and in February – USD 429.3 million.“Updated data regarding operations in the foreign exchange market will be published on April 27, 2026,” the National Bank of Georgia stated.

1774526245

“The reforms implemented in the country by the Government of Georgia and the NBG to develop the capital market were based on the principle that market growth and investor protection are parallel and equally important objectives. Accordingly, the aim of the reforms implemented in recent years was not only to increase issuances, but also to strengthen market reliability, transparency, and sustainability,” noted Ekaterine Mikabadze.The First Vice-Governor of the NBG also emphasized the importance of financial intermediaries in enhancing the inclusivity of the capital market. As she pointed out, increasing the participation of retail investors (individuals) in the public securities market particularly in segments where they are currently underrepresented requires, among other factors, the proactive involvement of brokerage companies and commercial banks. This includes simplifying access channels and reducing transaction costs.Alongside Ekaterine Mikabadze, the panel discussion featured David Urbaneja-Furelos, Head of the Asian Development Bank’s Private Sector Infrastructure Finance Group for the Caucasus; Irakli Nadareishvili, Deputy Minister of Economy and Sustainable Development; Giorgi Danelia, Chief Investment Officer of Wissol Group; and Ekaterine Kavtaradze, Director of Tegeta Holding.The second annual International Capital Markets Conference was held with the support of the National Bank of Georgia and brought together over 450 participants, including representatives of international financial institutions, investment banks, investors, issuers, and regulatory bodies.

1774442307

According to the NBG, heightened geopolitical tensions in the Middle East and substantial disruptions to transit through the Strait of Hormuz have temporarily disrupted traditional supply chains. On the one hand, these developments have already led to a marked increase in energy and shipping costs across international markets. On the other hand, if these dynamics persist, they could increase the risk of inflationary processes becoming more broad-based globally. Notably, before the escalation of geopolitical tensions, inflation dynamics were broadly in line with the NBG’s central scenario, under which inflation was expected to converge to the 3 per cent target from the second quarter of 2026 as temporary factors faded. Headline inflation in February 2026 stood at 4.6 per cent, as expected. Importantly, the contribution of food prices to inflation has begun to moderate, while measures of sticky prices and inflation expectations have remained broadly anchored around the target.However, amid ongoing geopolitical developments, the recent rise in oil prices has already been partially transmitted to the Georgian market and is expected to put upward pressure on headline inflation in March.Accordingly, under the NBG’s updated assessment, inflation is expected to be higher than in the central scenario in the short term. However, over the medium term, the projected path of inflation largely depends on the intensity and persistence of global inflationary pressures, which remain subject to considerable uncertainty,” the NBG has said.According to the Monetary Policy Committee’s assessment, the situation has shifted from the latest published central scenario to a high-inflation risk scenario, one of the key risks of which envisages higher oil prices amid escalating geopolitical tensions.“Notably, the severity and duration of inflationary pressures on the Georgian economy stemming from the geopolitical situation will largely depend on how these processes evolve going forward. It is also important to note that, despite recent developments, the sovereign risk premium indicator for Georgia has remained broadly stable at low levels, which, in turn, helps mitigate the impact of the external shock,” the NBG said.At this meeting, the Monetary Policy Committee also discussed high- and low-inflation risks relevant to the current situation.“Specifically, sustained high levels of energy prices would raise shipping and production costs globally, generating additional supply-side shocks. Under conditions of successive shocks, the risk of second-round inflationary effects also increases. In response to these developments, central banks in advanced economies may adjust monetary policy toward a tighter stance, which, in turn, could trigger capital outflows from emerging economies. Taking these factors into account, the risks of imported inflation in Georgia are expected to rise. Should these risks materialise, fundamental processes would necessitate a higher trajectory for the monetary policy rate.On the other hand, there are also signs of the realisation of low-inflation risks. In particular, inflationary pressures arising from geopolitical factors could be temporary. If disruptions in the Strait of Hormuz are resolved relatively quickly and supply from other oil-producing countries increases, energy prices may decline sharply from their peaks. Moreover, if Georgia’s sovereign risk premium remains low for an extended period, the external balance could further improve, exerting downward pressure on inflation. The realisation of low inflation risks would imply the possibility of easing the monetary policy stance.As a result of the ongoing macroeconomic analysis and consideration of existing risks, the MPC considered it optimal to leave the monetary policy rate unchanged at 8 per cent. Amid heightened uncertainty, the NBG will continue to actively monitor ongoing developments and the intensity of their transmission to the domestic market. If inflationary shocks stemming from the geopolitical situation persist and/or their scale amplifies the risks of second-round effects, the MPC stands ready to maintain the current tight stance for longer than expected and, if necessary, to tighten it further,” the National Bank of Georgia has said.The next meeting of the Monetary Policy Committee will be held on May 6, 2026.

1774441804

As a result, the Bank of Georgia, as a financial institution within the Lion Finance Group, became the first company from Georgia to be included in the London Stock Exchange’s Top 100. The Bank is listed alongside global companies such as HSBC, BP, Unilever, ROLLS-ROYCE, SHELL, BARCLAYS and others.Lion Finance Group officially joined the index on March 20, 2026, after the stock exchange closed, and the change officially entered into force on March 23.For information, Lion Finance Group is a banking group listed on the London Stock Exchange, which unites leading, customer-focused and digitally accessible universal banks, including Bank of Georgia and Ameriabank, which operates in the Armenian market and is the country's largest financial institution.It is worth noting that the group was first listed on the London Stock Exchange in 2006, and became a member of the FTSE 250 index in 2012.

1774354123