The Banking Association of Georgia views the potential acquisition of Liberty Bank by Basisbank positively, describing it as a move that will intensify competition in the country’s banking sector.
David Rusia, Analytical Director of the Association, shared his insights on the deal during an appearance on "Business Morning." He noted that the process is significant due to the scale of the transaction and predicted that the full merger could take up to a year to complete.
“The merger of these two banks has been announced and will likely be confirmed soon. It is encouraging to see that a bank with approximately GEL 10 billion in assets will emerge as a result, which will further stimulate competition in the market,” Rusia said.
He emphasized that the merger stands out because both institutions have substantial market presence and distinctive corporate cultures and operational structures.
“Both banks are quite unique in terms of management style and operations. Unlike previous cases where a large bank absorbed a smaller one, this time we’re seeing two sizable players come together. This makes the process especially interesting and potentially challenging. I don’t expect everything to be finalized within six months—realistically, the full integration could take a year,” he added.
