Georgia’s financial sector has gained a new commercial bank. Under an order issued by National Bank President Natia Turnava, JSC Neo Georgian Group has been granted a banking license.
According to the Public Registry and the company’s founding documents, the newly licensed bank has subscribed capital of GEL 61.3 million, fully paid in cash and meeting the minimum legal requirement. The company has issued 100,000 ordinary shares, each with a nominal value of GEL 613.
Neo Georgian Group is 100% owned by JSC Georgian First Digital Group, which is wholly owned by Latvian citizen Juris Leonenko. The bank’s management team has already been formed. Leonenko chairs the supervisory board, with Grigory Morchiladze as deputy chair and Tamar Tkeshelashvili as the third member. Kakha Kodua has been appointed CEO, Teona Giorgobiani CFO, and Lasha Mazanashvili head of risk management.
Under its approved charter, Neo Georgian Group will provide a full range of banking and financial services, including deposits, consumer, mortgage and commercial lending, payment cards and online payments. In addition, the bank plans to develop services related to the conversion, transfer and custody of virtual assets (crypto assets), in line with National Bank regulations.
