Economics

Foreign Direct Investment Decreased by 18.6%

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Tbilisi (GBC) – According to revised data from Geostat, the volume of Foreign Direct Investment (FDI) in Georgia amounted to $1.57 billion in 2024, which is 18.6% lower than the corresponding figure for 2023, but 17.7% higher than the preliminary estimate for 2024.

Geostat also revised the FDI figures in Georgia starting from 2020. Accordingly, the table below presents the updated data and the main reasons behind the respective changes.

In 2024, reinvestments accounted for 85.8% of total Foreign Direct Investment (FDI) in Georgia.

According to revised data, the share of the three largest investor countries made up 54.4% of total FDI in 2024.

The United Kingdom ranked first with 27.5% ($431.1 million), followed by the Netherlands with 14.7% ($230.9 million), and Malta with 12.2% ($191.7 million).

In terms of sectors, the top three accounted for 60.2% of total FDI in 2024.

The financial and insurance sector received the most investment, totaling $579.5 million or 36.9% of total FDI.

It was followed by the manufacturing sector with $183.6 million (11.7%), and the real estate sector with $182 million (11.6%).

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Silk Bank remains in losses

In the one year since its rebranding, the bank’s loan portfolio has surpassed 115 million GEL (July 1, 2024 – 93 million, +27% Y/Y).Silk Bank’s mid-term goal (3 years) is to grow its Monthly Active Users (MAU) to 300,000.As of August 1, 2025, the loan portfolio dollarization stands within the 20–30% range. In term deposits (totaling 109.3 million GEL), the share of foreign currency (15.1 million GEL) does not exceed 14%.Financial overview: Silk Bank(7M 2025 vs. 7M 2024)Amounts in million GEL.Indicator: 7M 2025 7M 2024Assets: 210.2 204.3Loans: 117.8 93.07of which, Retail: 52.7 21.7Deposits: 132.9 124.0Shareholders’ Equity: 66.8. 57.3Net Loss (Profit): -13.02. -2.07 Source: Commercial Bank

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Liberty will be acquired by a Chinese bank

Based on the August 1 decision by NBG’s Competition Committee, after the share acquisition, Liberty will continue operating in its current organizational and legal form, as a subsidiary of Basisbank. The merger process is expected to take 9–12 months.The NBG decision notes that the main income sources for both Basisbank and Liberty stem from lending activities. After the merger, their combined market share will not exceed 10.2%.Under legal regulations, a market concentration of up to 15% is considered acceptable. According to NBG, the Herfindahl-Hirschman Index (HHI) will increase by only 50.5 points, which is deemed an allowable change.The parties submitted the merger application to the regulator on July 8.

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Venice – a new destination from Kutaisi International Airport

The most environmentally sustainable airline in Europe, Wizz Air, will operate twice-weekly flights on the Venice–Kutaisi–Venice route using Airbus A321neo aircraft, with flights scheduled on Tuesdays and Saturdays. Intensive negotiations between United Airports of Georgia and the airline have concluded successfully. Tickets are already available for purchase on the airline’s website.At the beginning of the summer navigation season, Wizz Air restored its routes from Kutaisi to Madrid and Hamburg, and in June it launched a completely new route to Lyon, with twice-weekly direct regular flights.Since 2022, the airline has maintained its leading position in Georgia’s aviation market. According to data from the first seven months of 2025, Wizz Air served nearly 900,000 passengers in Georgia. During the same period alone, the airline operated around 4,800 flights to and from Kutaisi, representing a 9% increase compared to the same period last year.Currently, Wizz Air operates flights from Kutaisi International Airport to 24 destinations across 13 countries in Europe and the Middle East.

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Cartu Bank’s Profit Increased

As of August 1, 2025, the bank’s loan portfolio exceeds 1 billion GEL, with approximately 60% — equivalent to 612 million GEL — issued in foreign currencies (USD and EUR).In terms of deposits, more than 81.5% (over 1.003 billion GEL) are foreign currency deposits. Over half of the deposit portfolio consists of current accounts. Time deposits also show a high dollarization rate, with a coefficient of around 80%.Cartu Bank is associated with the Ivanishvili family.

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The National Bank of Georgia fined "Silk Bank"

The reason for the fine was four instances of incorrect submission of documentation requested by the NBG.So far this year, four commercial banks have been fined under the "Law on Facilitating the Prevention of Money Laundering and Terrorism Financing" — including digital "Paysera", "Ziraat Bank", and "Isbank", with total fines amounting to 116,000 GEL.According to the NBG, in 2024, it has also fined two other banks — Bank of Georgia and Basisbank — with total fines amounting to 127,800 GEL.

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Over 600,000 Transfers Registered Monthly in Creditinfo

The average monthly traffic is approximately 600,000 transactions, amounting to nearly 300 million USD. In July, 620,000 transfers were registered, and in June, 635,000.According to the National Bank of Georgia, the inclusion of remittance data in the Creditinfo database was intended to improve access to loans. However, most individuals who rely on money sent from abroad still remain unable to access credit. Remittance data has been included in the Creditinfo database since spring 2023.Some banks offer remittance-backed loans, but in practice, only two banks are actively issuing them: Bank of Georgia and TBC Bank.

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In July, the pension fund's portfolios continued to grow steadily

"Despite the weakness of global markets and the trend of the Georgian lari strengthening against the US dollar — which reduces the profitability of assets denominated in foreign currency — July’s positive performance was mainly driven by the high and stable returns of assets denominated in the local currency," the Pension Fund noted.In July, the conservative portfolio recorded the highest growth at 0.62%, followed by the balanced portfolio with 0.51%, and the dynamic portfolio with 0.20% growth.It’s also worth noting that the Consumer Price Index (CPI) decreased by 0.17% in July, which had a positive impact on the real returns of the portfolios.Although July was relatively weaker for the dynamic portfolio, it remains the top performer in terms of year-to-date profitability. Nonetheless, all three portfolios maintain a relatively high rate of return: Conservative – 6.00% Balanced – 6.50% Dynamic – 7.08% For reference, the dynamic portfolio also leads in terms of long-term profitability. Since the portfolios were launched (on August 6, 2023), its annualized return stands at 13.3%, compared to 12.5% for the balanced and 11.5% for the conservative portfolio.As of the end of July, the Pension Fund’s total assets exceeded ₾7.2 billion, and the generated returns surpassed 1.8 billion GEL.

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The volume of pension assets is ₾7.2 billion

As of July 31, 2025, a total of 21,972 citizens have benefited from the funded pension system, and ₾95.4 million has been disbursed to them in the form of pension payments.

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Liberty will be acquired by a Chinese bank

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