Golden Recursion Inc. logoGolden Recursion Inc. logo
Advanced Search
Bank of Georgia

Bank of Georgia

Bank of Georgia is a Tbilisi-based company founded in 1903.

Bank of Georgia Group PLC (LSE: BGEO) (“Bank of Georgia Group”, the “Group”, or “BOGG” and on the LSE: BGEO LN) is a UK incorporated holding company which, through its subsidiaries, carries out a) retail banking and payment services, and b) corporate investment banking and wealth management operations in Georgia, and c) banking operations in Belarus.


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.

Bank of Georgia was first listed on the Georgian Stock Exchange in 2001 and then 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.

The period following the listing was marked by its first Eurobond issuances, further acquisitions and new partnerships (e.g. American Express).

Bank of Georgia was listed on London Stock Exchange through global depositary receipts in 2007.

Bank of Georgia gained a premium listing on the London Stock Exchange in April 2012. On 15 June 2012 Bank of Georgia joined the FTSE 250 Index.

Bank of Georgia diversified its revenue sources by entering non-banking sectors in healthcare and real estate, which later became the Group’s Investment Business arm.

In 2017, the decision was made to demerge BGEO Group PLC into two separately listed and independently managed public companies – Bank of Georgia Group PLC, the Banking Business, and Georgia Capital PLC, the Investment Business. The Demerger was completed on 29 May 2018.

In 2018, Georgia Capital issued Eurobonds which were listed and traded on the Irish Stock Exchange.

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. Bank of Georgia typically lends the funds to local businesses, such as the Swiss Agricultural School Caucasus.


Bank of Georgia offers the a range of financial products to the retail market; the bank had a network of 271 branches, 886 cash machines and 3,152 express pay terminals as of 31 March 2019.


As at 31 March 2019, the Group’s top three shareholders were JSC Georgia Capital (19.90%), Harding Loevner LP (4.58%) and JP Morgan Asset Management (3.11%).



Further Resources

Golden logo
By using this site, you agree to our Terms & Conditions.