Microbank Crystal deposits offer the highest interest rates

“The United Kingdom firmly supports the sovereignty and territorial integrity of Georgia,” the Embassy’s statement reads. “Unfortunately, Georgian Dream has withdrawn from Euro-Atlantic cooperation, but the threat from Russia remains, including in cyberspace.”The statement comes amid renewed international attention to Russia’s hybrid warfare tactics, including cyberattacks, disinformation, and intelligence operations targeting democratic institutions and allies across Europe.The UK’s criticism of the Georgian government aligns with broader Western concerns about Georgia’s political direction, particularly after the passage of the controversial “foreign influence” law and increasing signs of democratic backsliding. Georgian Dream has faced mounting domestic and international scrutiny for what critics call a shift away from Western integration and democratic norms.While expressing concern over Georgia’s current political course, the UK reiterated its long-standing support for the country’s independence and its right to choose its own alliances, values that remain under threat from Russian interference.The statement underscores the UK's continued partnership with the Georgian people and signals growing unease in Western capitals about Tbilisi’s political alignment in the face of Russia’s persistent destabilizing activities.

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The contribution of visitors in 6 months of 2025 is 1.972 billion USD (H1/2024 – $1.898 billion)The growth is largely due to the increase in spending by visitors from neighboring republics (excluding Russia), Israel and EU countries.Spending by citizens from neighboring Turkey increased in Q2 2025 (Q1/2025 – $107 million, Q2/2025 – $151 million), although overall, in the 2nd quarter, it is down 10% year-on-year.The annual decline in spending by Russian visitors to Georgia is reaching 20%, which is an effect of statistical methodology. Russians, as well as Belarusians and Ukrainians, who have been living in our country for more than 1 year (or if they intend to stay for more than 1 year), are no longer classified as visitors and are transferred to the resident category (according to the IMF methodology. As of 01.07.2025, such a contingent accounts for up to 21% of visitors from Russia, 20.1% of Ukrainian visitors and 15.3% of Belarusians living in Georgia.The statistics of the National Bank of Georgia do not include cases of travelers from “other countries”, including China and other Asian countries. Only tour operators and hotel owners talk about the replacement of desirable tourists with less desirable ones, the radical change of the market and the oddities of this year's season. On TV Levan Dadvan, the owner of one of the hotels in Mestia (“Lahili”), said that he had to change the menu. He was forced to add a large amount of rice. Unlike Europeans, who are fascinated by Georgian culture and cuisine, participate in ethnotours, and engage in other traditional activities, the Chinese are not at all interested in the Svanetian Tower, a unique museum exposition preserved by the Svaneti population and preserved for centuries, not even chvishtari and kubdari. Most of them even refuse breakfast and are satisfied with the choice of the market. Basically, as Dadvani said, they eat noodles and quick-cooking soups.Visitor spending by country ($ million)

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Crystal's Commercial Director Melania Kuchukhidze spoke on several television broadcasts about the main lines of the market entry strategy.The former MFO, which started attracting deposits a few days ago, met 3 conditions for the competitiveness of the product (high yield, reliability, accessibility).The interest rate offered by Microbank (14%) is 2.5% to 3% higher than the market rate, and this package, as a promotion, will be valid until August, although the higher rate than the market rate will remain from August onwards.A high-interest deposit in “Crystal” is placed from 100 GEL to 30,000 GEL. And “Moneta” has the same rate, which is determined from 100,000 GEL to an unlimited volume.The commercial director of the bank noted that attracting deposits serves the ultimate goal. To diversify credit products, which begins with cheaper credit resources for the bank.MFO is changing the financing structure. It is replacing expensive resources with cheaper ones. Microbank will also attract funds by issuing bonds in the fall.

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In addition, the bank increased its authorized capital by 3 million in June, to 104 million GEL. The chartered capital amounts to 68.6 million GEL.As of July 1, Silk is represented by a 140 million GEL credit portfolio (H1/2024 – 87.6 million. + 59%Y.Y)Silk's portfolio is the most lari-denominated. The share of foreign currency loans is 30% - the equivalent of 41.5 million GEL.Accordingly, under the current regulation, the capital requirement is reduced according to the risk weight and a minimum is required. It enjoys a similar benefit in the reserve ratio. The dollarization coefficient of Silk's deposit portfolio is up to 15%.According to the semi-annual report, the loss has increased almost threefold year-on-year, to 11.2 million GEL (H1/2024 – 3.9 million).

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The increase in visitors was mainly driven by increased interest from Russia, Azerbaijan, the European Union, Armenia and Asian markets, including India, Israel and China. In addition, the number of visitors decreased from Turkey, Kazakhstan and Iran. The growing flows from the European Union are related to increased air traffic from Tbilisi to Europe.Galt & Taggart writes that in 2Q25, the high growth rate of visitors was maintained, influenced by the June war between Israel and Iran, despite a slowdown in visitor growth from Israel and a decrease in visits from Iran.In total, the number of international travelers in the first half of 2025 amounted to 2.8 million (+4.6% y/y), of which the number of tourists was 2.3 million (+6.9% y/y), and the number of same-day visitors was 0.5 million (+4.2% y/y).The Investment Company writes that in 2Q25, Georgia received $1.1 billion in revenue from tourism, which is a 5% increase compared to the previous year. The main source of growth was the European Union (+26% y/y), which is related to increased tourist flows. In addition, revenues decreased from Russia (-20.5% y/y) and Turkey (-10.7% y/y).According to Galt & Taggart, the decrease in tourism revenues from Russia is likely related to a change in the profile of visitors, long-term visitors (digital nomads, migrants) were replaced by relatively short-term visitors, whose average spending in 2Q25 was lower.In total, tourism revenues in the first half of 2025 amounted to $2 billion (+3.8% y/y), which was associated with increased revenues from the European Union, Israel, Azerbaijan and Asian markets.Galt & Taggart forecasts that tourism revenues will reach $4.5 billion in 2025, however, if the dynamics of 2Q25 continue, tourism revenues are forecast to reach $4.6 billion.

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"International currency reserves are an important guarantor of the country's macroeconomic stability. Accordingly, NBG is always focused on replenishing reserves, which is confirmed by the bank's stated policy. When the market allows it, the National Bank increases the country's international reserves," the National Bank said.In addition, the foreign exchange interventions carried out by the NBG in 2025 look like this: No net purchases were made through Bmatch in January-February March - Net purchases through Bmatch 101.7 million USD April - Net purchases through Bmatch 266.4 million USD May - Net purchases through Bmatch 245.4 million USD June - Net purchases through Bmatch 266.0 million USD The National Bank of Georgia will publish updated data on operations carried out in the foreign exchange market on August 25, 2025.

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As of June 2025, the number of transactions of residential flats in Batumi has increased by 25.1% to 1,357 units. The market size has increased by 41.5% standing at USD 76 millions. It should be noted that the increase in transaction volume is largely attributed to a significant 19% decline in transactions in June of the previous year.In June 2025 the weighted average price of newly-built flats in Batumi increased by 11.8% equaling USD 1,185 per sq m. The weighted average price increased in both primary (9.4%) and secondary (10.3%) markets. It should be noted that some primary transactions are registered late, resulting in a price growth trend that does not reflect reality.In the first half of 2025 the weighted average price of newly-built flats in Batumi increased by 16.1% equaling USD 1,184 per sq m, while the figure for old flats recorded a 20% increase to USD 1,169 per sq m.As of the first half of 2025, the number of transactions of residential flats in Batumi has increased by 4.8% to 7,129 units, compared to the first half of the previous year. The market size has increased by 16.1% standing at USD 397 millions.

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As of the first half of 2025 the weighted average price of newly-built flats in Tbilisi has increased by 20.6% in the wide centre. Meanwhile 10.5% and 7.4% growth was witnessed in the suburbs and city centre, respectively. The most significant price change was observed in the wide centre, which was driven by the fact that in H1 2024, transactions from two large projects spanning 3-4 years were registered all at once. This caused a decrease in the weighted average price at that time. Without these projects, prices in the wide centre increased by 8.8%.In June 2025, the number of transactions in new projects in Tbilisi increased by 8.8%, driven by growth in the secondary market. In contrast to previous months, transactions in older projects also experienced an upward trend, with a notable 16.6% increase compared to June 2024. This upward trend can also be attributed to the notable drop in transactions recorded in June of last year.As of June 2025 in Tbilisi the weighted average price of old flats has increased by 10.6% in the suburbs compared to June 2024, in the city centre 9.8% growth was witnessed, while in the wide centre the weighted average price increased by 6.1%.As of the first half of 2025 in Tbilisi the weighted average price of old flats has increased by 7.8% in the city centre. While 9.8% growth was witnessed in the wide centre and suburbs.In the first half of 2025, in Tbilisi the number of transactions of residential flats amounted to 19,205 units, reflecting 0.6% YoY decrease. Market size increased by 11% standing at USD 1.4 billion. Note: The methodology of price analysis has been updated for new projects, which has resulted in changes in 2022-2025 figures.

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