The event was opened by Sopnendu Mohanty, Executive Director of the Global Finance & Technology Network (GFTN) based in Singapore. Welcoming remarks were delivered by the Prime Minister of Georgia, Irakli Kobakhidze; the Minister of Economy and Sustainable Development, Mariam Kvrivishvili; and the Governor of the National Bank of Georgia, Natia Turnava."For the second consecutive year, Georgia has been part of an international network that brings together the world's leading financial centers, including Singapore, Japan, and Switzerland. This is the result of successful reforms implemented by the Government of Georgia and the National Bank of Georgia," stated Natia Turnava, Governor of the National Bank of Georgia, at the opening of the summit.According to her, despite global challenges, Georgia has maintained financial stability and a high rate of economic growth. Over the past five years, the average annual economic growth has reached 9.3%, while international reserves have doubled in the last two years, reaching 8.14 billion USD. The reserve adequacy indicator has also improved; the metric defined by the IMF methodology (the ARA metric) significantly exceeds the 100% adequacy threshold, standing at 128.2%.Natia Turnava noted that the Georgian financial sector is characterized by high capitalization and strong liquidity buffers, which enhances its attractiveness to international investors. In 2025, the annual growth of foreign direct investment in the financial sector reached 18.7%.The main theme of the summit is the development of regional economic and financial corridors at the intersection of policy, finance, and technology. During the two-day event, participants will discuss central bank priorities, financial stability, digital assets, the future of payments, artificial intelligence, and the cybersecurity of financial systems.The Governor of the National Bank of Georgia will participate in a high-level panel discussion titled "Central Bank Priorities for 2027."The "Tbilisi Financial Summit" serves as a significant platform for strengthening Georgia's position within the international financial and technological ecosystem, deepening cooperation with international partners, and showcasing investment opportunities.The summit is jointly organized by the National Bank of Georgia, the Ministry of Economy and Sustainable Development of Georgia, and the Singapore-based Global Financial and Technology Network (GFTN).

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Sopnendu Mohanty highlighted the role of the National Bank of Georgia in fostering financial innovation, noting that the country is already taking significant steps toward modernizing its financial system through the implementation of open banking. In his assessment, Georgia has the opportunity to build upon this experience and advance to the next stage of financial technology development."Open banking, regulatory sandboxes, digital banks, the digital Lari, you are not merely implementing technology; you are creating it. Yet, technology is not the end goal. The goal is a financial system that is productive, sustainable, and trustworthy. While technology defines the capabilities of finance, trust determines how far it can go. Let us make Tbilisi the place where these two converge," stated Sopnendu Mohanty.Speaking on Georgia’s development prospects, the Executive Director of the GFTN Group noted that three areas will be of particular importance for the further development of Georgia’s financial sector: artificial intelligence, tokenization, and quantum technologies.Regarding artificial intelligence, he pointed out that the development of this technology is entering a new phase - one where AI does not just process information and answer questions, but also acts independently. According to his assessment, the use of artificial intelligence in the financial sector will facilitate the rapid detection of fraud, more accurate risk assessment, and improved services for customers. At the same time, it is essential to have appropriate regulatory frameworks in place that ensure both the development of innovation and the security of the financial system.Sopnendu Mohanty identified tokenization as another key area. He explained that a tokenized financial market enables the instantaneous settlement of money and assets. He noted that Georgia took steps toward digital currency at an early stage, and expressed hope that the country would leverage this experience to develop a fully-fledged tokenized market."Value grows when we share it, and Georgia lives by this principle," stated the Executive Director of the GFTN group.

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The lari-zation ratio for the total portfolio stands at 57.04% (compared to 50.77% the previous year). Dollarization has decreased to 43%; however, if the 7.1 billion GEL government portfolio is excluded, the figure exceeds 47%.According to the National Bank of Georgia (NBG), the weighted average annual market interest rate on term deposits in September was 7.10%. Specifically, the rate was 8.66% for deposits in the national currency and 2.40% for deposits in foreign currency.

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According to the National Bank of Georgia (NBG), the portfolio denominated in Georgian Lari (GEL) increased by 796.7 million GEL, while the foreign currency-denominated portfolio rose by 892.6 million GEL.As of October 1, 2026, the banking sector has extended 33.67 billion GEL in loans to legal entities, with more than 66% of this amount denominated in foreign currency.The volume of retail loans stands at 41.9 billion GEL (+16.8% year-on-year).The "larization" (share of GEL-denominated loans) of the total loan portfolio is 58.54% (compared to 58.2% the previous year).

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Lion Finance Group (BGEO LN) shares closed at GBP 120.60/share (-4.13% w/w and -14.59% m/m). More than 307k shares traded in the range of GBP 119.30 - 127.00/share. Average daily traded volume was 61k in the last 4 weeks. The volume of BGEO shares traded was at 0.71% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 47.20/share (- 7.09% w/w and -10.94% m/m). More than 251k shares changed hands in the range of GBP 46.70 - 50.85/share. Average daily traded volume was 64k in the last 4 weeks. The volume of TBCG shares traded was at 0.45% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 41.45/share (-2.59% w/w and -7.99% m/m). More than 185k shares traded in the range of GBP 40.40 - 43.40/share. Average daily traded volume was 37k in the last 4 weeks. The volume of CGEO shares traded was at 0.54% of its capitalization.

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The summit will be opened by the Prime Minister of Georgia, Irakli Kobakhidze. Welcoming remarks will be delivered by Mariam Kvrivishvili, Vice Prime Minister and Minister of Economy and Sustainable Development of Georgia; Natia Turnava, Governor of the National Bank of Georgia; and Sopnendu Mohanty, Head of the Global Finance & Technology Network (GFTN).This year’s summit will feature over 800 participants from nearly 60 countries, along with approximately 100 high-level speakers. Participants in the summit include representatives from major companies such as Swift, UnionPay, Luma Group, Accel, Tether, and Ant International, among others. Also in attendance are Yang Jun, Executive Vice President of the Bank of China; Binur Zhalenov, Deputy Governor of the National Bank of Kazakhstan; Holta Zachaj, First Deputy Governor of the Bank of Albania; Mu Changchun, Director-General of the Digital Currency Research Institute at the People's Bank of China; Hovhannes Khachatryan, Deputy Governor of the Central Bank of Armenia; Emir Kurtić, Vice Governor of the Central Bank of Bosnia and Herzegovina; Zdeněk Tůma, former Governor of the Czech National Bank; and Renat Bekturov, Governor of the Astana International Financial Centre.The two-day event will feature thematic sessions, panel discussions, and various working and professional meetings. Key discussion topics will include strengthening regional financial and economic ties, digital assets, the future of payments, open banking, artificial intelligence, and the cybersecurity of financial systems.Natia Turnava, Governor of the National Bank of Georgia, will participate in a high-level panel discussion, “Central Bank Priorities for 2027”, alongside representatives from financial institutions in Albania, Armenia, Bosnia and Herzegovina, Kazakhstan, and China. The discussion will cover monetary policy, financial stability, and digital and cross-border financial infrastructure.The summit will place special emphasis on the development of financial technologies, the regulation of digital assets, and the implementation of innovative solutions. The agenda also addresses the development of regional financial infrastructure, international cooperation, and the expansion of investment opportunities.Additionally, a "Demo Day" for an AI and Open Banking hackathon will be held as part of the summit. The hackathon is a joint project of the National Bank and the Georgia Innovation and Technology Agency, featuring the participation of 28 local and international teams. The winners will be announced on October 28th, during the Demo Day."The 'Tbilisi Financial Summit' represents an opportunity for Georgia to strengthen its position within the international financial and technological ecosystem." "The event will help deepen cooperation with international partners, facilitate the sharing of experience in the field of financial innovations, and showcase Georgia's potential as a regional financial and technological platform," noted Natia Turnava, Governor of the National Bank of Georgia.The event is being jointly organized by the National Bank of Georgia, the Ministry of Economy and Sustainable Development of Georgia, and the Singapore-based Global Finance & Technology Network (GFTN).GFTN is an international network based in Singapore that focuses on the development of financial technologies, digital transformation, and modern financial ecosystems. The network encompasses leading global financial centers, including those in Singapore, Japan, and Switzerland. In 2025, Georgia also joined the network.

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Cooperation with Citibank enhances Basisbank’ s settlement capabilities, broadens its payment channels and enables the Bank to further enhance the efficiency and quality of the services it provides to clients.Developing its international network and strengthening strategic partnerships are key priorities for Basisbank’ s long-term development. Through closer cooperation with global financial institutions, the Bank creates new opportunities to support international business, foreign trade and access to global financial services.“Opening a USD correspondent account with Citibank is of strategic importance for Basisbank. This partnership demonstrates international confidence in our Bank and directly enhances the quality of service we provide to our clients. It enables us to offer faster, more secure and more flexible US dollar payment and settlement solutions. We will continue to expand our network of international partnerships to ensure that Basisbank remains a reliable and trusted gateway to global markets for every client.”- Lia Aslanikashvili, Financial Director of Basisbank.About Basisbank GroupFollowing Basisbank’ s acquisition of a 95.99% stake in Liberty Bank in April 2026, Basisbank Group is the third-largest systemic financial institution in Georgia, holding an 11% market share. The Group serves over 2 million individuals and more than 65,000 corporate and SME clients. It operates the country’s largest network nationwide, comprising approximately 500 service centers and nearly 700 ATMs across all regions and municipalities of Georgia.As of end of September 2026, Basisbank Group's total assets stand at GEL 12.4 billion, with a loan portfolio of GEL 7.9 billion and a deposit portfolio of GEL 9.4 billion. The Group recorded a net profit of GEL 178.6 million for the first 9 months of 2026.(R)

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Of the total financial assets, short-term assets amounted to GEL 8.9 billion, with a liquidity ratio of 50.6%. Meanwhile, non-financial corporations’ total liabilities stood at GEL 92.5 billion at the end of 2025, including GEL 23.8 billion in short-term liabilities.Foreign-currency liabilities totaled GEL 18 billion, while debt owed to non-residents, classified as external debt, reached GEL 11.2 billion. During 2025, non-financial corporations incurred GEL 3.3 billion in interest expenses and generated total revenues of GEL 24.8 billion.Debt servicing costs amounted to GEL 13.2 billion last year, covering both principal repayments and interest payments. Interest-related debt servicing accounted for GEL 2.1 billion, while repayments on loans from individuals totaled to GEL 172 million and those on loans from other non-financial corporations reached GEL 983 million.

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The central bank said recently, several cases have again been reported in which unknown individuals contact citizens via WhatsApp and other communication channels, falsely presenting themselves as representatives of the National Bank of Georgia. Cases of the unauthorized use of the National Bank of Georgia’s official logo have also been reported.“According to the information available to us, these individuals offer to assist citizens in accessing various financial products, including loans, and conducting other financial transactions. In one particular case, a citizen was contacted by individuals claiming to represent a commercial bank and informed that an agreement had to be signed in order to access a loan allegedly approved in the citizen’s name. After the citizen denied having applied for a loan, the individuals contacted them again, this time claiming to represent the National Bank of Georgia, and persuaded them that they needed to take out the loan. Under their influence, the consumer logged into the relevant remote banking channel, activated the loan through internet banking, and transferred part of the funds to a third party’s account. It subsequently emerged that the consumer had fallen victim to suspected fraud.These cases once again demonstrate that, through so-called social engineering, fraudsters attempt either to gain direct access to consumers’ bank accounts or to manipulate consumers into carrying out certain transactions themselves, resulting in financial losses.We emphasize that the National Bank of Georgia, as the country’s central bank, does not issue loans to individuals or legal entities or accept deposits, unlike commercial banks. Nor does it provide any form of assistance to consumers in accessing financial products offered by commercial banks. Such activities fall outside the powers and remit conferred upon the National Bank of Georgia under the country’s applicable legislation.The National Bank of Georgia therefore urges citizens to exercise extreme caution. Do not disclose personal or financial information, including the username and password required to log in to a bank’s remote banking services. Do not enter such information via suspicious links provided by unknown individuals, and do not attempt to carry out banking or card transactions at their request. If you receive such or similar offers, verify the information with your financial service provider before deciding whether to use a financial product or carry out any transaction. If you suspect fraud, contact the relevant law enforcement authorities.We remind the public that, in order to protect the rights of financial sector consumers, the National Bank of Georgia periodically publishes warnings and educational materials on commonly used financial fraud schemes. Relevant materials are available on the National Bank of Georgia’s official website,” the NBG stated.

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According to the National Bank of Georgia, geopolitical tensions in the Middle East have persisted longer than anticipated, prolonging the supply-side shock and, consequently, increasing inflationary pressures. As a result, the deviation of inflation from its 3 per cent target in Georgia continues to be driven largely by exogenous factors. In September 2026, annual inflation stood at 5.6 per cent, of which approximately 2 percentage points were attributable to energy prices. Moreover, disruptions to international transportation and shipping, coupled with higher energy prices, are increasing production and transportation costs, creating additional inflationary pressures through indirect effects on the prices of other goods and services. Against this backdrop, particular attention should be paid to developments in the stickier components of inflation, which provide a better gauge of the anchoring of longer-term inflation expectations. In this regard, core and services inflation remain below headline inflation, standing at 3.5 per cent and 3.7 per cent, respectively. Accordingly, the impact of the supply-side shock on inflation expectations remains moderate at this stage. However, given the prolonged nature of the shock, this remains an important risk to monitor.Amid more persistent inflationary pressures than previously anticipated and taking into account global developments, the NBG has revised its central inflation forecast for 2026 upward by 0.2 percentage points to 5.4 per cent. All else equal, inflation is expected to gradually converge toward its 3 per cent target from the second half of 2027, averaging 3.5 per cent for the year.Economic activity has remained stronger than expected. According to preliminary data, economic growth stood at 6.3 per cent in August 2026, averaging 7.6 per cent over the first eight months of the year. Notably, growth continues to be driven largely by high-productivity sectors, which offset demand-side inflationary pressures. According to the NBG’s updated central forecast, the economic growth projection for 2026 has been revised upward from 6.5 per cent to 7.2 per cent, while, all else equal, growth in 2027 is expected to be around 5.5 per cent.Uncertainty surrounding the further evolution of geopolitical developments and the magnitude of their impact on the economy remains elevated. Accordingly, alongside the central scenario, the Monetary Policy Committee (MPC) considered both high-inflation and low-inflation risk scenarios.In the event of the realisation of the high-inflation risk scenario, fundamental processes require a higher trajectory of the monetary policy rate than the central scenario. The key risk underlying the high-inflation scenario is a further escalation and prolongation of the conflict in the Middle East, which, amid additional disruptions to oil supply and refining, would push energy prices even higher. Moreover, disruptions to supply chains and the shift to alternative transportation routes would increase production and transportation costs. As a result, heightened global inflationary pressures would spill over to the domestic economy through imported inflation and tighter global financial conditions, requiring further monetary policy tightening and the maintenance of a restrictive stance for a longer period.On the other hand, under the low-inflation risk scenario considered by the MPC, the realisation of the risks would allow a faster normalisation of monetary policy stance compared to the central scenario. Specifically, under this scenario, strong economic growth, driven largely by high-productivity sectors, would prove more persistent than previously projected. This, in turn, would lead to a sustained improvement in the external position and an upward revision to the assessment of long-term growth potential. These developments would support a fundamental appreciation of the exchange rate and limit inflationary pressures stemming from aggregate demand. In addition, the scenario envisages a de-escalation of the conflict in the Middle East, resulting in lower energy prices compared to the central scenario. Consequently, inflation would converge toward its target more rapidly.“Taking into account the current macroeconomic environment and prevailing risks, the Monetary Policy Committee decided to keep the monetary policy rate unchanged. The moderately tight monetary policy stance aims to minimise the risks of rising inflation expectations and second-round effects, ensuring that inflation returns swiftly to its 3 per cent target once the supply shock dissipates. Should the prolonged supply shock lead to an upward trend in inflation expectations, which would amplify second-round effects, the MPC will continue to increase the monetary policy rate moderately. Once the inflationary shock dissipates, the NBG will gradually begin to normalise its monetary policy stance,” the press release reads.The next meeting of the Monetary Policy Committee will be held on December 16, 2026.

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