Following Basisbank’s acquisition of a 95.99% stake in Liberty Bank, Basisbank’s General Director Davit Tsaava will also assume the role of General Director at Liberty Bank. According to the bank, the dual appointment aims to ensure continuity and coordinated management across both financial institutions during this transitional phase.
For now, both banks will continue to operate independently. Basisbank customers will continue receiving services exclusively through Basisbank, while Liberty Bank customers will be served by Liberty Bank. “All services, products, and channels remain fully operational, and service continues as usual,” the bank announced.
Calling the acquisition “a significant milestone,” Tsaava highlighted that the merger of capabilities will enhance competition in the banking sector. “This transaction is a unique opportunity to create a powerful universal financial platform through the synergy of human and technological resources. Strengthening competition will benefit consumers, while additional resources will enable us to finance more businesses and contribute to Georgia’s economic development,” he said.
The bank emphasizes that uniting two strong institutions — each with complementary strengths — will expand market opportunities and allow for more diverse products and services for customers.
David Tsaava, a career financier, joined Basisbank in 2004 as a credit expert, becoming Deputy General Director in 2008 and General Director in 2010. He has also served on the Supervisory Board of the bank and currently sits on the boards of BB Leasing and BB Insurance.
The potential acquisition of Liberty Bank had been under review since last year, when Liberty’s Supervisory Board Chairman Irakli Rukhadze noted improved financial performance that justified revisiting the deal’s terms.
About Basisbank
Basisbank is one of Georgia’s largest financial institutions, offering banking, leasing, and insurance services to corporate clients, SMEs, and retail customers. In 2025, its total assets reached GEL 4.9 billion, with a loan portfolio of GEL 3.3 billion, a deposit portfolio of GEL 3.5 billion, and net profit of GEL 122.4 million.
About Liberty Bank
Liberty Bank serves over 1.7 million individuals and more than 60,000 SMEs. It operates the country’s widest service network — nearly 500 branches and 700 ATMs nationwide — and employs more than 5,600 people. The bank’s assets stand at GEL 5.8 billion, its loan portfolio at GEL 4.2 billion, and deposits at GEL 4.17 billion. Net profit for 2025 totals GEL 128 million.
