The National Bank of Georgia (NBG) has stated that if a complete written request is submitted regarding the creation of [Imedi Bank], the application will be reviewed within the legally established timeframe. The announcement follows the UK-sanctioned Imedi Holding, which plans to establish its own bank with the support of the TV company’s new founders and financial backers.
BMG asked the NBG whether it would issue a banking license considering the sanctions and the company’s intention to avoid exposing any existing bank to risk. The NBG responded that the licensing process begins with the submission of a formal application and will be reviewed according to Georgian law once a complete request is received.
Obtaining a commercial banking license requires extensive documentation, including 50 million GEL in supervisory capital, a detailed business plan outlining strategy, target market, and competitive assessment, as well as full transparency of ownership, governance, and operational structure. Detailed information about all direct and beneficial owners must also be provided.
All licensing procedures are outlined in the Law of Georgia on Commercial Banks and related regulatory acts, such as regulations on licensing, administrator suitability, and acquiring a significant share in a bank. These documents are publicly available on the NBG’s official website.
