# Bank of Georgia

Bank of Georgia JSC (Georgian: საქართველოს ბანკი, romanized: sakartvelos bank'i) is a Georgian universal bank and financial services, company founded in 1994, with its headquarters in Tbilisi, Georgia.
Bank of Georgia is Georgia's second largest bank by total assets after TBC Bank. It is considered to be a systemically important bank by the National Bank of Georgia.
Bank of Georgia is a subsidiary of the Lion Finance Group plc, a UK incorporated Georgian financial services holding company, which is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

## History

The bank was established in 1903, nationalized by the communists and became known as Binsotsbank, before it was privatized again and renamed the Bank of Georgia in 1994. In the late 20th century, it was owned by the European Bank for Reconstruction and Development, the German Investment Corporation and the Georgian physicist, Vitaly Gelarani.
Bank of Georgia was first listed on the Georgian Stock Exchange in 2001. It merged with Tbiluniversalbank in 2004.
Starting from 2004, Bank of Georgia completed a number of strategic acquisitions, introduced a series of packaged retail products and initiated major infrastructure upgrades.
This is when the Bank launched its private banking, placed debut corporate bonds on the Georgian Stock Exchange.
In 2007, Bank of Georgia listed its shares on the London Stock Exchange in the form of global depositary receipts, the first international IPO from Georgia. The period following the listing was marked by the issuance of the first Eurobond, further acquisitions, and new international partnerships, including with American Express.
A new holding company Bank of Georgia Holdings (now Lion Finance Group) was established in October 2011 and secured a listing on the main market of the London Stock Exchange in April 2012.
In 2014, Bank of Georgia acquired Tao Private Bank, the 9th largest bank in Georgia at the time of acquisition.
In 2020, the European Investment Bank signed a €50 million loan deal with the Bank of Georgia for small and medium enterprises (SMEs) and mid-caps. The Bank of Georgia typically lends the funds to local businesses, such as the Swiss Agricultural School Caucasus.

## Products and operations

Bank of Georgia has one of the largest distribution networks in Georgia, comprising 211 branches, 989 ATMs, 3,134 self-service terminals and a call center.
Bank of Georgia business consists of three key business segments: Retail Banking (RB) operations in Georgia, comprising subsegments that serve mass retail (Mass Retail), and mass affluent and high-net-worth clients (Premium Banking); SME Banking (SME) operations in Georgia, serving small and medium-sized businesses; and Corporate Banking (CB) operations in Georgia, serving corporate and institutional customers.
Bank of Georgia has firmly established itself as one of the key players in the domestic banking sector, accounting for around 40% of total banking sector assets in Georgia.

### Retail banking

Retail Banking (RB) is divided into two sub-segments that serve mass retail (Mass Retail), and mass affluent and high-net-worth clients (Premium Banking). The Retail Banking products include consumer loans, mortgage loans, overdrafts, credit cards and other credit facilities, funds transfers and settlement services, and handling of customers’ deposits.

### Small and medium-sized enterprises

SME Banking serves small and medium-sized businesses providing financial and value-added services including business loans, payments processing, and financial advisory. The Bank was awarded Best SME Banking in Central and Eastern Europe by Global Finance in 2022.

### Corporate Banking

Bank of Georgia’s Corporate Banking segment serves large businesses in Georgia. It mainly provides loans and other credit facilities, funds transfers and settlement services, trade finance services, documentary operations support and handles saving and term deposits for corporate and institutional customers.
In the field of education, Bank of Georgia sponsors students through various scholarship programs, including international ones such as the Fulbright Graduate Student Programme, the Chevening Scholarship Programme and Miami ad School of Europe scholarship program.
Bank of Georgia is the general sponsor of the Georgian National Olympic and Paralympic Committees, Georgian Football Federation and the main sponsor of the Georgian Basketball Federation.