Basisbank has acquired Liberty Bank. Previously, the controlling interest in Liberty Bank was held by the Netherlands-registered holding company Georgian Financial Group B.V. The ultimate beneficial owner of the company, among others, was Georgian businessman Irakli Rukhadze.
According to a statement from Basisbank, following the receipt of necessary regulatory approvals, the bank successfully finalized the transaction to acquire Liberty Bank, becoming the owner of 95.99% of its shares.
“This transaction marks a crucial milestone in the history of two successful banks. Basisbank’s acquisition of Liberty Bank presents a unique opportunity to leverage the synergy of human and technological resources to create a powerful universal financial platform, equally strong in both business support and retail banking.
With this deal, we are increasing market competition, which will positively impact client interests. Additional resources mean more opportunities for business financing, which will contribute to the country’s economic development,” stated Basisbank CEO David Tsaava.
Liberty Bank CEO Beka Gogichaishvili noted:
“It has been a great honor to lead the Liberty team during a period when the bank underwent significant transformation and growth. I am grateful to every employee for their professionalism and dedication, which are the foundation of the bank’s success. I am confident that this deal will create new opportunities for the bank, its clients, and the team, ultimately strengthening our country’s banking system and economy.”
According to the statement, to ensure business continuity and coordinated management of the two financial institutions, Basisbank CEO David Tsaava will also assume the position of CEO of Liberty Bank.
At the current stage, both banks continue to operate as usual and independently of each other. Basisbank clients will continue to be served at Basisbank, and Liberty Bank clients at Liberty Bank.
All services, products, and channels remain fully operational for customers, with service continuing in standard mode.
Liberty Bank is one of the largest financial companies in Georgia, managing the distribution of state pensions. The bank serves over 1.7 million individuals and more than 60,000 small and medium-sized enterprises (SMEs). It boasts the country’s most extensive network, with approximately 500 service centers and up to 700 ATMs across all regions and municipalities. The workforce exceeds 5,600 employees. The bank’s assets stand at 5.8 billion GEL (Georgian Lari), with a total loan portfolio of 4.2 billion GEL and a deposit portfolio of 4.17 billion GEL. The bank’s net profit for 2025 amounted to 128 million GEL.
As for Basisbank, its primary owner is the Chinese Hualing Group. The transaction price for the sale of Liberty Bank has not been disclosed at this time.
