BIC Bulletin W11/2026
📁 Financial sector
🔹 Bank deposits in Georgia grow double digits
The National Bank of Georgia reports robust deposit growth across all segments for Q3 2025. Foreign-currency deposits of legal entities rose 17.7% year-on-year to the equivalent of GEL 12.04bn, while this group's lari deposits gained 12.8% to GEL 21.54bn. Retail lari deposits grew 14.0% to GEL 12.17bn, and those in foreign currency 11.8% to the equivalent of GEL 21.53bn. As of 30 September, total foreign-currency deposits stood at GEL 33.57bn – up 13.8% year-on-year. The currency allocation shows a clear dominance of the US dollar at 79%, followed by the euro at 19.2%. The data signal persistently high liquidity in Georgia's banking sector as well as stable confidence among retail and corporate clients.
🔹 Basisbank's acquisition of Liberty Bank falls through
The acquisition talks between Basisbank and Liberty Bank, ongoing since the start of the year, have collapsed, according to the trade publication Rezonansi. Basisbank did not pursue the planned acquisition of Liberty Bank. Details on the reasons for the breakdown were not disclosed. The failed transaction would have meant significant consolidation in Georgia's banking sector. In parallel, TBC Bank – Georgia's largest lender – reported a net profit of GEL 904.38m for Q3 2025, a modest 1.1% year-on-year increase, pointing to slowing profit growth in the sector.
📁 Real estate
🔹 Batumi property market up 57% in Q3
The residential real estate market in Batumi recorded a transaction volume of USD 300m in the third quarter of 2025 – up 57% year-on-year, according to Colliers Georgia. In parallel, Galt&Taggart sees supply and demand for apartments in Batumi as broadly balanced: annual demand is estimated at around 2,300 new-build apartments, driven by natural population growth, internal migration within Adjara and the influx of digital nomads. The momentum is likely to receive additional impetus from the Ambassadori Group's planned mega-project as well as the USD 6.6bn development agreement with Eagle Hills for projects in Tbilisi and Adjara.
📁 Consumption & retail
🔹 FMCG sector grows 10% to GEL 17.9bn
Georgia's fast-moving consumer goods (FMCG) sector reached a volume of GEL 17.9bn in the first nine months of 2025, corresponding to 10% year-on-year growth, according to an analysis by Galt&Taggart. Revenues of branded retail chains amounted to GEL 7.5bn, up 11.6% on the same period last year. Branded chains hold a market share of 41.8% of the total market. The above-average growth of organised retail formats points to ongoing consolidation of Georgia's consumer goods market.
📁 Energy
🔹 Government cancels memoranda with 50 power plants
The Georgian government has cancelled memoranda with 50 power-plant projects, according to a market report by Galt&Taggart. Administrative proceedings were suspended for a further 30 projects. In parallel, domestic power generation fell 8.6% year-on-year in the first nine months of 2025, while consumption rose 2.2% – a widening supply gap. In addition, the roll-out of micro power plants is likely to slow: the capacity cap for micro installations is being reduced from 500 kW to 100 kW, and the billing model is switching from net metering to net billing. Only 1.1% of total electricity supply has so far been traded via the energy exchange.
📩 Batumi Investment Club
Georgia's largest German-speaking investment club
