Basisbank’s CEO, Davit Tsaava, says the value of the transaction through which Basisbank acquired Liberty Bank remains confidential at this stage, but stresses that “the deal was advantageous for both sides.” Tsaava commented on the matter during the official signing ceremony.
“At this point the price is confidential, but as Mr. Irakli [Rukhadze] noted, this transaction was beneficial for both parties. This is exactly what allowed us to finalize a year-and-a-half-long negotiation process successfully. Most importantly, the deal is also favorable for Liberty Bank’s minority shareholders—around 4%—who also hold stakes in the bank,” said Tsaava, who will now serve simultaneously as CEO of both Basisbank and Liberty Bank.
According to him, the full integration of the two banks will take approximately one year.
The major change in Georgia’s banking sector became public on April 16, when the country’s fourth-largest bank by assets, Basisbank, acquired the third-largest, Liberty Bank. The transaction covers the purchase of 95.99% of shares from businessman Irakli Rukhadze’s Hunnewell Partners. The financial terms remain undisclosed.
The National Bank of Georgia completed its review of the deal in the summer of 2025, concluding that the merger would not negatively impact competition in the country’s banking system.
