The placement agent is G&T and TBC Capital. The prospectuses of the issue approved by the NBG include detailed information on the issuer's activities, share distribution, related risks, etc. On the risks characteristic of the industry and economy.

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According to the NBG’s “Monthly Review”, demand for cash increased by 103.2 million GEL in May. A large part of the refinancing loan was returned. The balance in May decreased by 1.04 billion GEL. The balance of overnight loans was 750 million at the end of May. In June, 715 million were reduced.In May, the volume of reserve money increased by 448 million GEL (+6.1% m.m.), to 7.8 billion GEL. The monetary base, according to the average indicator, increased by 140 million GEL.The National Bank of Georgia did not apply for a foreign exchange auction in the reporting month. It purchased 245.4 million USD on Bmatch. It spent up to 100 million on internal government conversions. Accordingly, reserves increased by $147 million instead of $245 million.In May, funds on government deposits increased by 77.2 million GEL, to 993 million.

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According to newly published statistics, reserve assets amount to $4.7 billion.More than $600 million has been purchased on Bmatch this year (03 - $101.7 million; 04 - 266.4 million; 05 -$245.4 million). The June transaction will be published on 25/07. Data on reserves will be updated on August 6.The share of gold in total international foreign exchange reserves is 16.1% (754.4 million USD). The value of monetary gold, since the moment of its purchase (03/2024), has increased by 254.4 million USD.

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Fully integrated into the wider TBC Uzbekistan ecosystem and available via the TBC UZ banking app, the new product is transforming the customer experience for insurance users in Uzbekistan by providing a seamless and fully digital service. Beginning with credit life insurance, the offering will be expanded to provide a full suite of personal insurance products.TBC Insurance was initially soft launched in April 2025, after obtaining a life insurance license from the National Agency of Perspective Projects of Uzbekistan in March 2025.This move comes as TBC Uzbekistan continues to broaden its product offering and strengthen its position as the leading digital banking ecosystem in Central Asia. Building on strong momentum, including a registered user base that now exceeds 50% of the country’s population and year-on-year growth that saw revenue and the loan book double in Q1 2025, the company has launched a series of new products over the past year. These include the Salom debit card, Osmon credit card, as well as SME banking and lending services, creating powerful synergies across the ecosystem and driving deeper customer engagement.Nika Kurdiani, CEO of TBC Uzbekistan, commented: “We see insurance as a natural extension of the TBC Uzbekistan ecosystem - a product that empowers customers to feel more secure and in control of their financial lives. With the launch of TBC Insurance, we’re continuing to thoughtfully expand our digital banking ecosystem, ensuring each new product complements the others and enhances the overall value we deliver to our customers. Insurance will be a key part of this journey, helping to deepen engagement and strengthen trust in the ecosystem.”

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Lion Finance Group (BGEO LN) shares closed at GBP 69.85/share (- 0.14% w/w and +2.42% m/m). More than 171k shares traded in the range of GBP 67.40 - 70.95/share. Average daily traded volume was 44k in the last 4 weeks. The volume of BGEO shares traded was at 0.39% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 47.90/share (+4.59% w/w and +5.74% m/m). More than 293k shares changed hands in the range of GBP 45.45 - 48.60/share. Average daily traded volume was 62k in the last 4 weeks. The volume of TBCG shares traded was at 0.52% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 20.25/share (+6.58% w/w and +5.80% m/m). More than 340k shares traded in the range of GBP 18.98 - 20.60/share. Average daily traded volume was 49k in the last 4 weeks. The volume of CGEO shares traded was at 0.86% of its capitalization. 

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However, it is higher than optimal. 18-20% is considered optimal for shareholders, and the higher the better.In turn, investor satisfaction is reflected in the country's financial market, and ultimately on the price of money and lending rates.However, the Georgian banking sector manages to maintain high profitability, even in conditions of increased resource prices.TOP -7 +3 Banks With ROE

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Of this, 97% comes from billionaires (banks with assets > 1 billion).As of 01.06.2025, Halyk Bank, with Kazakh capital, has joined the list of large-asset banks.There are 9 banks with assets exceeding 1 billion on the market. Including 8 with foreign chartered capital and 1 - Cartu.According to 5-month reporting, the sector is represented by 19 banks. Including 2 micro and 3 digital banks. Total capital is 14.569 billion GEL, 14.8% of the banks' total assets.TOP-9 Billionaire Banks (000GEL):

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A return on equity of >15% is considered optimal for shareholders. This is a kind of satisfaction index. An investor has a return of up to 200 GEL for every 1000 GEL of capital.

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During the visit, he met with the World Bank Vice President for Development Finance, Akihiko Nishio.The activities to be implemented within the 21st replenishment of the International Development Association (IDA) and the evaluation of the 20th replenishment program of IDA were discussed.The World Bank Vice President thanked the Minister of Finance for the donation made by Georgia to the International Development Association and drew attention to the importance of this process.In turn, Lasha Khutsishvili, in his conversation with the World Bank President, emphasized the many years of successful cooperation with the World Bank. The Minister of Finance spoke about the current macroeconomic parameters and medium-term forecasts.The parties reviewed the projects implemented and ongoing in Georgia with the support of the World Bank.Georgia joined the number of IDA donor countries in 2022, on the 30th anniversary of cooperation with the Association, and is already participating in the second replenishment of resources as a donor.At the end of the meeting, the parties expressed their readiness to continue cooperation.

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During the bilateral meeting, the parties discussed the existing cooperation between Georgia and Luxembourg in the fields of taxation and finance, and expressed their readiness to further deepen this partnership.Lasha Khutsishvili briefed his counterpart on the current macroeconomic situation and forecasts in Georgia.Additionally, the Ministers of Finance of Georgia and Luxembourg signed a protocol amending the Agreement on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and Capital. The aim of the amendment is to align the existing agreement between Georgia and Luxembourg with the OECD’ 2017 Model Tax Convention.The updated legal document will contribute to the further deepening of economic cooperation between Georgia and Luxembourg and will enhance collaboration between the two countries in the areas of tax transparency and exchange of information for tax purposes.It is noteworthy that on March 27, 2024, the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes published Georgia's peer review report, according to which the country’s legal framework and practices in the field of tax transparency and exchange of information are in line with international standards. As a result, Georgia was rated as Largely Compliant.The meeting was also attended on the Georgian side by Deputy Minister of Finance Ekaterine Guntsadze and Department Head of the Tax and Customs Policy Marine Khurtsidze.

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