According to TBC PLC, Allan Gray’s stake fell from 3.2731% to 2.9751% on September 18. Its holdings of voting shares consequently decreased from 1,831,304 to 1,657,934, indicating that the investment firm sold approximately 173,370 shares. TBC PLC was notified of the change on September 23, when the transaction was completed.Nearly a year before this latest reduction, Allan Gray had increased its stake in TBC. In November 2025, the firm raised its holding from 2.993% to 3.2731%. This was its first share purchase in TBC following a period of reducing its position between 2023 and 2025.Before that, Allan Gray reduced its stake from 3.8861% to 2.993% on June 27, 2025. Earlier, on November 2, 2023, it had lowered its holding from 4.9897% to 3.9978%.

1791548453

Masurashvili sold 1,715 shares at an average price of £50.60 per share, generating £86,779.On the same day, she sold an additional 1,000 shares at an average price of £50.80 per share, for total proceeds of £50,800.Both transactions were conducted on October 5, 2026.

1791548367

On September 25, Kurdiani sold 24,287 shares at an average price of £52.50 per share, for total proceeds of £1,275,067.50.A day earlier, on September 24, he sold 713 shares at an average price of £52.57 per share, generating £37,485.80.The two transactions, conducted on the London Stock Exchange, generated total proceeds of £1,312,553.30 for Kurdiani.

1791548245

According to the National Bank, since the legal verification of the facts mentioned in the letter falls outside the mandate defined by the legislation governing the National Bank, the materials have been forwarded to the competent authorities for further action. The National Bank hopes that the objective truth regarding these circumstances will be established in a timely manner.Furthermore, pending the investigation and until the matter is fully clarified and in adherence to high reputational standards—the Board of the National Bank will consider the issue of temporarily recusing Nana Keinishvili from Board meetings during its upcoming session.As for the virtual asset service provider Bitxchange LLC itself, the National Bank reports that the entity has been fined following a scheduled inspection for violating regulations on the prevention of money laundering and terrorist financing.

1791548147

Return figures by portfolio for the January–September period were as follows: Dynamic Portfolio: 8.87% (real return adjusted for inflation: 4.01%) Balanced Portfolio: 8.75% (real: 3.90%) Conservative Portfolio: 8.46% (real: 3.61%) September TrendsPortfolio results varied when looking at the most recent month. Rising bond yields on international equity markets had a negative impact, although local fixed-income instruments contributed positively to portfolio performance. Additionally, the Lari's appreciation of approximately 0.28% against the US dollar reduced the Lari-denominated return on foreign currency-denominated assets.Against this backdrop, the conservative portfolio demonstrated the best performance in September; its relatively low equity allocation mitigated the impact of declining stock markets, resulting in a 0.37% gain. During the same period, the balanced portfolio declined by 0.11%, while the dynamic portfolio fell by 0.62%.Long-term figures and total assetsSince inception, the annualized return of the dynamic portfolio has stood at 13.72% (real: 9.43%), the balanced portfolio at 12.77% (real: 8.52%), and the conservative portfolio at 10.26% (real: 4.40%).As of the end of September 2026, the pension fund's total assets exceeded GEL 10.1 billion, while accumulated investment returns reached GEL 3 billion.

1791463883

The opening was attended by representatives of SUNMI, BS/2, ASHBURN International, and local and international businesses. The demonstration space was officially opened by Aleksandr Bespalyi, Managing Director of MEA at SUNMI; Idrakas Dadašovas, Chairman of the Board of the Penki Kontinentai Group; and Emilio Kiris, CEO of BS/2 Georgia. The program included a tour of the demonstration space, technology demonstrations, and business meetings.Located within the BS/2 Georgia office, the space combines SUNMI devices with BS/2’s expertise in payment infrastructure, self-service technologies, and software integration. Business representatives can evaluate both individual devices and complete technology solutions, as well as their potential applications in their own operations.BS/2 Georgia imports SUNMI devices and payment terminals into Georgia and provides commercial banks with deployment and technical maintenance services.“The opening of SUNMI Home Tbilisi is important both for Georgia and for the entire region. Here, customers and partners can test SUNMI technologies in practice, while BS/2 provides the knowledge and expertise needed to integrate them into business environments. Together with the Baku center, the Tbilisi space creates new opportunities for cooperation with our customers across Central Asia and the Caucasus,” - said Emilio Kiris, CEO of BS/2 Georgia.The opening was also preceded by international recognition for the BS/2 Georgia team, which was named among the winners of SUNMI’s global Store Revolution campaign.Today, October 8, Fusion Georgia 2026: Banking & Retail, organized by BS/2, will take place at Paragraph Tbilisi. The forum will be attended by representatives of the retail and banking sectors, technology partners, and industry experts. SUNMI devices will also be showcased at the event.SUNMI Home Tbilisi is open to customers, partners, and business representatives.Address: 6 Pimen Kurashvili St., Tbilisi(R)

1791445084

According to the NBG, compared to the previous month, the level of international reserves increased by USD 26.5 million. Reserve adequacy indicators also improved. The current level of foreign exchange reserves surpasses the 100 per cent threshold defined by the International Monetary Fund’s ARA metric, standing at 128.7 per cent.“International reserves serve as a vital guarantor of the country’s macroeconomic stability. Accordingly, the long-term policy of the National Bank of Georgia remains focused on reserve accumulation and the efficient management of reserve assets. Whenever foreign exchange market dynamics and macroeconomic conditions permit, the central bank replenishes its reserves.As a result of the NBG’s policy, reserve volumes have doubled over the past two years compared to October 2024. Throughout 2026, favourable market conditions enabled net foreign currency purchases totalling USD 3,122,2 million between January and August. Net purchase statistics for September 2026 will be published on October 26.Notably, in 2024, the NBG took a strategic decision to diversify its reserve holdings by making its inaugural investment in gold. Subsequent appreciation in gold prices has contributed to further growth in gross international reserves. In June 2026, the NBG acquired an additional USD 100 million in monetary gold.Since then, the significant rise in the price of gold has contributed to the growth of international reserves. As of September, the volume of monetary gold stands at USD 1,051.8 million, representing 12.9% of total reserves.The National Bank of Georgia will release updated international reserve figures on November 6, 2026,” the National Bank’s statement read.

1791376127

The National Bank of Georgia is publishing the 2026 Financial Stability Report, which provides a comprehensive assessment of the resilience of the country's financial system, as well as existing vulnerabilities and potential risks. The analysis focuses primarily on the medium- to long-term outlook, examining both the state of the financial sector and key economic trends and factors relevant to financial stability. The report evaluates vulnerabilities stemming from the external sector and provides a detailed analysis of trends and risks within the household, non-financial corporate, and real estate sectors. A significant portion is dedicated to analyzing the financial sector itself and assessing its resilience to shocks. The document also reviews the policy measures implemented by the National Bank of Georgia to foster financial stability and evaluates their impact. In this regard, particular attention is paid both to macroprudential policies aimed at mitigating risks across the financial system as a whole and to individual financial institutions.The National Bank's Financial Stability Committee left the cyclical component of the countercyclical capital buffer unchanged. As of August 2026, the banking sector maintains healthy capital and liquidity indicators. During the same period, excluding exchange rate effects, the annual growth of the credit portfolio stood at 14.8%, driven primarily by the growth of business loans. Data from the first quarter of 2026 indicate that the loan-to-GDP ratio remains below its long-term trend; consequently, the credit gap remains negative. Against the backdrop of high economic growth recorded in the first half of the year, the negative gap in the loan-to-GDP ratio widened further. The Committee assesses that, given sustained credit activity and the gradual normalization of the economic growth rate, the loan-to-GDP ratio will eventually converge toward its long-term level. Given these trends, there is currently no indication of a need to adjust the cyclical component of the countercyclical capital buffer. At the same time, commercial banks will continue the gradual accumulation of the neutral component of the countercyclical buffer in accordance with the established schedule.The Financial Stability Committee has decided to recalibrate the thresholds for the debt-service-to-income (PTI) ratio. The initial thresholds were based on 2017 statistical data and were previously updated in 2022 to reflect the growth of various nominal economic indicators. A need to recalibrate these thresholds has arisen once again. In recent years, alongside strong economic growth, wages and other nominal indicators have risen significantly; consequently, the existing fixed thresholds no longer accurately reflect the current distribution of borrower incomes and debt burdens. If the PTI thresholds were to remain unchanged, a borrower’s shift from one income category to another could be driven primarily by the growth of nominal income rather than by any substantial change in their actual repayment capacity or risk profile. Accordingly, the revision of the thresholds aims to align the PTI framework with the current economic environment while maintaining the original stance of the macroprudential policy. Consequently, the Committee deemed it appropriate to recalibrate this macroprudential instrument. Furthermore, to avoid a sharp, one-off impact and to distribute the effect over time, the Committee decided to raise the debt-service ratio threshold in stages. Specifically, while the 25% debt-service ratio requirement previously applied to individuals with an income of up to 1,500 GEL, this threshold will increase to 2,000 GEL starting February 1, 2027, and to 2,500 GEL starting September 1, 2027. This change helps mitigate the risk of borrower over-indebtedness and supports the resilience of the financial system. "The National Bank of Georgia continues to constantly monitor the country's financial stability and assess domestic and external risks; it will utilize all available instruments as necessary to minimize potential risks.The next meeting of the Financial Stability Committee will be held on November 25, 2026," reads the statement released by the Committee on Wednesday.

1790765160

79.2 , or GEL 27.5 billion of these funds are held in current and time deposit accounts at the two systemic banks (down from 81.4% the previous year).The trend has shifted; for years, the combined market share of the two systemic banks (BOG/TBC) exceeded 80%. By September 2026, this concentration had decreased. Meanwhile, Bank Cartu’s market share grew by 47% (an increase of 0.6 percentage points, reaching to 1.87%).TOP-6 Banks by Retail Deposits / GEL '000

1790754735

Lion Finance Group (BGEO LN) shares closed at GBP 145.80/share (+6.42% w/w and +9.38% m/m). More than 241k shares traded in the range of GBP 137.10 - 145.80/share. Average daily traded volume was 46k in the last 4 weeks. The volume of BGEO shares traded was at 0.56% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 53.35/share (+3.39% w/w and +7.43% m/m). More than 239k shares changed hands in the range of GBP 52.10 - 53.95/share. Average daily traded volume was 68k in the last 4 weeks. The volume of TBCG shares traded was at 0.43% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 46.90/share (-6.57% w/w and +6.23% m/m). More than 178k shares traded in the range of GBP 44.20 - 48.85/share. Average daily traded volume was 88k in the last 4 weeks. The volume of CGEO shares traded was at 0.52% of its capitalization. 

1790680599