Basisbank, owned by the Chinese Hualing Group, has paid 674 million GEL for a 95.99% stake in Irakli Rukhadze’s Liberty Bank. Information regarding the transaction amount was published on the Georgian Stock Exchange website.
Radio Liberty, citing Business Media, reports that this does not represent the full value of the deal.
According to stock exchange data, the exact amount paid for the 95.99% stake is 674,125,650.65 GEL—approximately $251 million.
The transaction was registered after 6:00 PM on April 15.
BMG noted that the deal also included Liberty Bank dividends—an additional 158 million GEL—bringing the total to approximately $330 million.
Irakli Rukhadze, Chairman of the Supervisory Board of Liberty Bank, stated at the time of the sale that the transaction amount was confidential.
According to a Basisbank press release dated April 16, the company’s CEO, David Tsaava, announced that both banks will continue to operate as usual and independently of each other, and that Basisbank customers will be served at Basisbank, while Liberty Bank customers will be served at Liberty Bank.
He also added that all services, products, and service channels are operating smoothly and continue to function as normal.
Basisbank has taken control of Liberty Bank’s assets, capabilities, and liabilities, as well as access to the personal data of more than 1.7 million individuals.
It should be noted that discussions regarding the deal between the two banks began a year ago, amid active debates in Georgia concerning the potential imposition of international sanctions against Irakli Rukhadze, the owner of Liberty Bank and the pro-government TV channel Imedi TV.
In February 2026, it became known that businessman Irakli Rukhadze and his partners, representing Hunnewell Partners, had sold the Imedi TV and GDS television channels. The parent company, Teleimedi, was sold for a symbolic sum of 1,000 GEL.
Shortly thereafter, on February 24, the UK government imposed financial sanctions against the Imedi TV and POSTV channels. By that time, Rukhadze and his partners had already sold Imedi TV.
Radio Liberty recalls that in a podcast by marketing expert Sasha Katsman, Irakli Rukhadze stated that Liberty Bank either had to expand or be sold. He also noted that the bank’s business model relied on “two pillars”—loans for pensioners, which he said accounted for about half of the bank’s income, and high-interest microloans.
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