Irakli Rukhadze says that the money received from selling “Liberty Bank” will not be “buried in the ground”, instead, it will be invested in new and ambitious projects. He noted that negotiations with “Basisbank” lasted about a year and a half, and the final agreement is significant both for investors and for Georgia’s banking sector.
According to Rukhadze, the merger of “Basisbank” and “Liberty Bank” will have a positive impact on the country’s economy, as the enlarged institution will have far more capabilities than the two banks operating separately. He emphasized that this strengthens the third major player in the market and increases competition overall.
Rukhadze also highlighted the progress made by “Liberty Bank” over the past eight years. The bank’s assets grew from 1.7 billion to 6.1 billion GEL, its product offerings expanded beyond microloans, and previously high interest rates were significantly reduced. Today, the bank employs 5,700 people and serves 1.8 million customers.
He added that his investment company is fully exiting the bank and will not retain any shares. The capital received from the sale will be directed toward acquiring new assets and launching new projects, including several initiatives planned in Georgia.
