BasisBank, a lender owned by China’s Hualing Group, has acquired a 95.99% stake in Georgia-based Liberty Bank.
Liberty Bank serves more than 1.7 million retail customers and over 60,000 small and medium-sized businesses.
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It has the widest branch and service network in Georgia, with about 500 service centres and as many as 700 cash machines across all regions and municipalities.
The bank employs more than 5,600 people.
Liberty Bank has total assets of La5.8bn ($2.12bn), a gross loan book of La4.2bn, deposits of La 4.17bn and net profit of La128m for 2025.
Liberty Bank JSC general director Beka Gogichaishvili commented: “It has been a privilege to lead the Liberty team during a period of significant transformation and growth.
“I am confident that this transaction will open a new chapter for the bank, creating additional opportunities for our customers, our team, and the broader financial sector, while contributing to the development of Georgia’s economy.”
BasisBank said the deal is an important development for Georgia’s banking industry and may open up further market opportunities.
It said the two banks’ different strengths are expected to increase competition and support a wider offering of financial products and services.
Basisbank JSC general director David Tsaava commented: “This transaction marks a defining moment in the history of two successful banks. The acquisition of Liberty Bank creates a unique opportunity to leverage the synergy of human expertise and technological capabilities to build a strong universal financial platform, equally focused on the development of both business and retail segments.”
David Tsaava will become General Director of both BasisBank and Liberty Bank as the ownership change is implemented.
For now, the two lenders will continue to run separately, with no change to services, products or customer operations.
Hualing Group, which is based in China’s Xinjiang region, has expanded in Georgia’s banking sector in recent years, reported Reuters. It acquired a controlling stake in BasisBank in 2012 and bought Societe Generale’s controlling stake in Bank Republic in 2016.
