BIC Bulletin W13/2026

📁 Financial sector

🔹 Bank deposits in Georgia grow double digits

The National Bank of Georgia reports broad deposit growth across the entire banking sector for Q3. Foreign-currency deposits of legal entities rose 17.7% year-on-year to the equivalent of GEL 12.04bn, while the same group's lari deposits gained 12.8% to GEL 21.54bn. Among retail customers, lari deposits grew 14.0% to GEL 12.17bn and foreign-currency deposits 11.8% to the equivalent of GEL 21.53bn. In total, foreign-currency deposits amounted to the equivalent of GEL 33.57bn as of 30 September (+13.8% YoY). The currency structure remains dominated by the US dollar (79%), followed by the euro (19.2%). The robust deposit growth across all segments signals a solid liquidity position in Georgia's banking sector.

🔹 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 media reports, Basisbank will not pursue the acquisition of Liberty Bank. Details on the reasons for the breakdown were not disclosed. The failed transaction would have represented significant consolidation in Georgia's banking sector. Liberty Bank is one of the country's largest retail banks, and a merger would have materially altered the market's competitive structure. It remains to be seen whether alternative buyers or strategic options for Liberty Bank will be considered.

📁 Real estate

🔹 Batumi residential market up 57%

According to Colliers Georgia, the volume of Batumi's residential real estate market reached USD 300m in the third quarter – up 57% year-on-year. In parallel, Galt&Taggart reports a balanced supply-and-demand situation for apartments: annual demand is around 2,300 new residential units, driven by natural population growth, internal migration within the Adjara region and the influx of so-called digital nomads. The momentum underlines Batumi's growing appeal as a real estate location, while the balance between supply and demand points to sustainable market development.

📁 Energy

🔹 Government cancels memoranda with 50 power plants

The Georgian government has dissolved memoranda with 50 power-plant projects, Galt&Taggart reports in a market analysis. Administrative proceedings were suspended for a further 30 projects. In addition, regulation for micro power plants is being tightened: the capacity cap is falling from 500 kW to 100 kW, and instead of the previous net-metering mechanism a net-billing rule will apply going forward. Galt&Taggart consequently forecasts a slowdown in the construction of micro power plants. At the same time, local power generation fell 8.6% YoY in the first nine months, while consumption rose 2.2% – a widening supply gap likely to increase import needs.

📁 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, corresponding to 10% year-on-year growth, according to Galt&Taggart. Revenues of branded retail chains amounted to GEL 7.5bn, up 11.6% YoY. Branded chains held a market share of 41.8% of total volume. The above-average growth of chain retailers points to ongoing consolidation in Georgian retail, while the overall double-digit increase reflects resilient consumer demand in the country.

📩 Batumi Investment Club

Georgia's largest German-speaking investment club