Businessman Irakli Rukhadze, owner of Liberty Bank, confirmed that the deal for its acquisition by Basisbank is nearing completion.
“We are agreeing on the final touches of several extensive documents,” Rukhadze told BMG, noting that both parties are actively working to finalize the transaction.
The ongoing negotiations were officially acknowledged today by the National Bank of Georgia (NBG), which announced the initiation of a concentration review. The NBG is assessing whether Basisbank’s potential acquisition of 95.99% of Liberty Bank’s shares aligns with competition laws in the financial sector.
Interested parties may submit feedback to the NBG until July 23, 2025, either by post or via email at [email protected] completed, the merger will form a banking entity with:
- GEL 9 billion in total assets
- GEL 7 billion in loans
- 10% market share in Georgia’s banking sector (by assets and loan size)
Current Bank Stats (as of April 2025):
Liberty Bank:
• Assets: GEL 5.45 billion
• Loan portfolio: GEL 3.9 billion
• Profit (Jan–Apr): GEL 40 million
Basisbank (owned by China’s Hualing Group):
• Assets: GEL 4 billion
• Loan portfolio: GEL 3 billion
• Profit (Jan–Apr): GEL 31 million
The deal is expected to significantly reshape the competitive landscape of Georgia’s banking system.
