Bank of Georgia
A systemically important Georgian universal bank serving retail, small-business, corporate and institutional customers.
Last updated August 22, 2026
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Overview
Bank of Georgia JSC is a Georgian universal bank and financial-services company headquartered in Tbilisi. It is one of the country’s largest banks and is described as the second-largest Georgian bank by total assets after TBC Bank. The National Bank of Georgia classifies it as a systemically important institution, reflecting its scale and importance to the domestic financial system. The institution’s history combines an early twentieth-century banking predecessor with a modern post-Soviet corporate history. A banking institution was established in 1903, was nationalized during the communist period, and later operated under the name Binsotsbank. Following the restoration of private ownership, it was renamed Bank of Georgia in 1994. The bank’s later ownership history included the European Bank for Reconstruction and Development, the German Investment Corporation and Georgian physicist Vitaly Gelarani. The distinction between the 1903 predecessor and the modern 1994 institution is important when describing its founding date. Bank of Georgia expanded substantially during the 2000s. It was admitted to the Georgian Stock Exchange in 2001 and merged with Tbiluniversalbank in 2004. From 2004 onward, the bank pursued acquisitions, upgraded its infrastructure, introduced packaged retail products and developed new business lines, including private banking. It also issued corporate bonds on the Georgian Stock Exchange. In 2007, it became the first Georgian company to complete an international initial public offering, listing global depositary receipts on the London Stock Exchange. The period after that listing included the issuance of the bank’s first Eurobond, additional acquisitions and an international partnership with American Express. The group structure changed in the early 2010s. Bank of Georgia Holdings was formed in October 2011 and listed on the London Stock Exchange’s main market in April 2012. That holding company was subsequently renamed Lion Finance Group plc. Bank of Georgia now operates as a subsidiary of the UK-incorporated holding company, whose shares are listed in London and included in the FTSE 100 Index according to the referenced account. The bank itself remains focused on the Georgian market rather than operating as a broadly international retail bank. Its activities are organized around three principal customer segments. Retail Banking serves mass-market customers as well as mass-affluent and high-net-worth clients through the Premium Banking subsegment. Products include consumer and mortgage lending, overdrafts, cards, deposits, transfers and settlement services. SME Banking provides small and medium-sized businesses with lending, payment processing, advisory support and other value-added services. Corporate Banking serves large companies and institutional customers with credit facilities, transaction banking, trade finance, documentary operations, deposits and related services. The bank has developed one of Georgia’s largest financial-distribution networks, including branches, automated teller machines, self-service terminals and a call center. It also participates in economic and social programs. A 2020 European Investment Bank facility supported lending to small and medium-sized enterprises and mid-sized companies. Bank of Georgia has supported scholarship initiatives involving programs such as Fulbright and Chevening, and has sponsored Georgian Olympic, Paralympic, football and basketball organizations. Its market position is therefore based on a combination of domestic scale, broad banking coverage, digital and physical distribution, institutional funding access and sponsorship activity.
History
Bank of Georgia traces its institutional history to a banking organization established in 1903. During the communist period it was nationalized and became known as Binsotsbank. After the transition back to private ownership, the institution was renamed Bank of Georgia in 1994. Its ownership in the late twentieth century included the European Bank for Reconstruction and Development, the German Investment Corporation and Georgian physicist Vitaly Gelarani. The modern bank began building a stronger capital-market and competitive position in the 2000s. It listed on the Georgian Stock Exchange in 2001 and merged with Tbiluniversalbank in 2004. From 2004, management pursued a program of strategic acquisitions, retail product development and infrastructure investment. The bank introduced packaged retail offerings, launched private banking and issued corporate bonds on the Georgian Stock Exchange. These measures broadened its customer proposition beyond conventional deposit-taking and lending. In 2007, Bank of Georgia listed global depositary receipts on the London Stock Exchange. The transaction was described as the first international IPO by a Georgian company. London access was followed by the issuance of the bank’s first Eurobond, further acquisitions and international commercial partnerships, including a relationship with American Express. These steps helped connect the Georgian bank with international capital markets while retaining its primary operating focus in Georgia. A group reorganization followed in 2011 and 2012. Bank of Georgia Holdings was established in October 2011 and obtained a main-market listing in London in April 2012. The holding company later became Lion Finance Group plc, a UK-incorporated Georgian financial-services holding company. Bank of Georgia operates as its subsidiary. The holding group’s London listing and FTSE 100 membership provide an international corporate structure around a bank whose operating franchise remains concentrated in Georgia. The bank expanded through further acquisitions, including the purchase of Tao Private Bank in 2014. At the time of acquisition, Tao Private Bank was described as the ninth-largest bank in Georgia. The transaction strengthened Bank of Georgia’s domestic scale and private-banking capabilities. Bank of Georgia’s operating model is divided into Retail Banking, SME Banking and Corporate Banking. Retail Banking covers mass-market clients and premium customers, including affluent and high-net-worth individuals. It provides consumer and mortgage credit, overdrafts, cards, deposits, transfers and settlement services. SME Banking combines business lending with payments, advisory and other value-added services. Corporate Banking serves large businesses and institutional customers through loans, transaction services, trade finance, documentary operations and deposits. The bank has also played a role in channeling international development finance into the Georgian economy. In 2020, the European Investment Bank agreed a €50 million facility intended to support small and medium-sized enterprises and mid-sized companies, with Bank of Georgia distributing the funds to local businesses. The bank’s broader public profile includes scholarship support and sponsorship of Georgian Olympic, Paralympic, football and basketball bodies. It is presented in the reference material as one of the country’s largest banks, with a substantial physical and self-service distribution network, and as a systemically important institution under the National Bank of Georgia.
- 2022
SME banking recognition
[1]Global Finance awarded the bank Best SME Banking in Central and Eastern Europe.
- 2020
European Investment Bank SME facility
[1]The European Investment Bank agreed a €50 million facility to support financing for Georgian SMEs and mid-sized companies.
- 2014
Acquisition of Tao Private Bank
[1]Bank of Georgia acquired Tao Private Bank, described at the time as the ninth-largest bank in Georgia.
- 2012
Holding company joins London main market
[1]Bank of Georgia Holdings secured a main-market listing on the London Stock Exchange in April.
- 2011
Bank of Georgia Holdings established
[1]A new holding company was established in October as part of the group’s corporate reorganization.
- 2007
London Stock Exchange listing
[1]The bank listed global depositary receipts in London in what was described as the first international IPO from Georgia.
- 2004
Merger with Tbiluniversalbank
[1]The bank merged with Tbiluniversalbank as part of its domestic expansion.
- 2001
Georgian Stock Exchange listing
[1]Bank of Georgia listed its shares on the Georgian Stock Exchange.
- 1994
Institution renamed Bank of Georgia
[1]After post-communist privatization, the institution formerly known as Binsotsbank adopted the Bank of Georgia name.
- 1903
Banking predecessor established
[1]A predecessor institution associated with the Bank of Georgia’s history was established in Georgia.
Products and positioning
A full-service, systemically important Georgian commercial bank with broad retail distribution and dedicated SME and corporate franchises.
Personal banking
Retail Banking
Bank of Georgia’s retail franchise serves mass-market customers and affluent or high-net-worth clients through its Premium Banking proposition. Its core services include current and savings accounts, deposits, consumer finance, mortgages, overdrafts, cards, transfers and settlement services. The business is supported by a broad Georgian branch, ATM and self-service network, alongside remote and call-center channels.
Affluent and private banking
Premium Banking
Premium Banking addresses mass-affluent, affluent and high-net-worth customers with a more specialized service model than mass retail banking. The reference material identifies private banking as one of the capabilities developed during the bank’s expansion after 2004, although specific current products and eligibility criteria are not provided.
Business banking
SME Banking
SME Banking serves small and medium-sized enterprises in Georgia. It combines business loans and other credit facilities with payment processing, financial advisory and additional value-added services. The segment has also been used to distribute development-finance funding, including the European Investment Bank facility agreed in 2020.
Corporate and institutional banking
Corporate Banking
Corporate Banking serves large Georgian businesses and institutional customers. Its services include loans and other credit facilities, funds transfers, settlement services, trade finance, documentary operations and savings or term deposits. The segment forms the bank’s principal relationship-banking platform for larger commercial and institutional clients.
Wealth management · 2004
Private Banking
Private Banking was introduced during the bank’s post-2004 expansion and is oriented toward wealthy customers requiring more tailored banking and financial services. The supplied sources do not specify the precise current product range, assets under management or organizational structure.
Marketing campaigns
- Scholarship and education support
Georgia
Bank of Georgia supports students through scholarship initiatives, including programs associated with the Fulbright Graduate Student Programme, the Chevening Scholarship Programme and the Miami ad School of Europe scholarship program.
Outcome. The supplied material identifies the programs but does not provide quantified participation or outcome data.
- National sports sponsorship
Georgia
The bank is identified as general sponsor of the Georgian National Olympic and Paralympic Committees, the Georgian Football Federation and main sponsor of the Georgian Basketball Federation.
Outcome. The supplied material does not report campaign-specific performance measures.
Brand decisions
2020
Deployment of European Investment Bank SME financingStrategyBackground
Georgian small and medium-sized businesses and mid-sized companies required access to financing through local banking channels.
Action taken
Bank of Georgia entered into a €50 million loan arrangement with the European Investment Bank and distributed the financing to eligible local businesses.
Aftermath
The facility supported lending to Georgian SMEs and mid-caps, including businesses such as the Swiss Agricultural School Caucasus according to the supplied reference.
Loan facility. €50 million facility (2020)
2014
Acquisition of Tao Private BankM&ABackground
Bank of Georgia continued its domestic consolidation and sought to strengthen its banking and private-client capabilities.
Action taken
The bank acquired Tao Private Bank.
Aftermath
Tao Private Bank was described as Georgia’s ninth-largest bank at the time of the acquisition, but the supplied material does not provide transaction terms or quantified post-merger effects.
2011
Creation of a listed holding-company structureStrategyBackground
The group reorganized its corporate structure as it developed an international listed-company platform.
Action taken
Bank of Georgia Holdings was established in October 2011 and later listed on the London Stock Exchange main market in April 2012.
Aftermath
The holding company subsequently became Lion Finance Group plc, with Bank of Georgia operating as its subsidiary.
2007
International capital-markets expansionStrategyBackground
After building a domestic listed-bank position, Bank of Georgia sought access to international investors and funding markets.
Action taken
The bank listed global depositary receipts on the London Stock Exchange and subsequently issued its first Eurobond.
Aftermath
The move established an international market presence and was described as the first international IPO from Georgia.
Recent events
- 2022
Bank of Georgia recognized for SME banking in Central and Eastern Europe[1]
Other
Global Finance named Bank of Georgia Best SME Banking provider in Central and Eastern Europe, according to the referenced material.
- 2020
European Investment Bank provides €50 million facility for Georgian SMEs and mid-caps[1]
Other
The European Investment Bank agreed a €50 million financing facility with Bank of Georgia to support lending to small and medium-sized enterprises and mid-sized companies in Georgia.
- 2007
Bank of Georgia becomes first Georgian company to list internationally[1]
Other
The bank listed global depositary receipts on the London Stock Exchange, described in the reference material as Georgia’s first international initial public offering.
Sources3 sources
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