Lion Finance Group (BGEO LN) shares closed at GBP 114.40/share (+3.53% w/w and +5.44% m/m). More than 331k shares traded in the range of GBP 110.50 - 115.90/share. Average daily traded volume was 55k in the last 4 weeks. The volume of BGEO shares traded was at 0.77% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 45.30/share (-0.04% w/w and +1.34% m/m). More than 418k shares changed hands in the range of GBP 44.50 - 46.80/share. Average daily traded volume was 68k in the last 4 weeks. The volume of TBCG shares traded was at 0.75% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 41.70/share (-1.53% w/w and +2.96% m/m). More than 285k shares traded in the range of GBP 40.10 - 43.20/share. Average daily traded volume was 53k in the last 4 weeks. The volume of CGEO shares traded was at 0.83% of its capitalization.

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According to the May report of the National Bank of Georgia, according to market participants, inflation expectations for a one-year period increased in May 2026 compared to April.The share of respondents who expect price changes in the range of 6%-8% and >8% has increased.The contingent that expects price increases in the range of 0%-2%, 2%-4% and 4%-6% has decreased. According to the same survey, inflation expectations for a three-year period increased in May of this year compared to April. On the one hand, the number of participants who expect price changes in the range of more than 8% and in the range of 6%-8% over the next three years has increased. On the other hand, compared to the previous month, the number of participants who expect price increases in the range of 4%-6% has decreased. According to respondents, expectations of price increases for their own products/services over the next 1 year have decreased. In particular, the number of respondents who expect prices to decrease by more than 8% over the next 1 year, in the range of 4%-6% and 0%-2%, has decreased. Meanwhile, the number of respondents who expect prices for their own products/services to change in the range of 2%-4% or to remain unchanged (0%) has increased. According to the same survey, expectations for wage increases decreased in May compared to April. In particular, the number of respondents who expect wages to change in the range of 20%-30% has decreased. The number of respondents who expect wages to remain unchanged (0%) has also decreased. On the other hand, the number of respondents who expect a salary increase in the range of 0%-10% has increased. According to the respondents, the efficiency of the use of resources required for production in the company in May (the actual use of the company's resources compared to the maximum use) decreased compared to the previous month.

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The placement was conducted in the domestic market in accordance with local regulations and represents the second tranche of a USD 100 million issuance programme. The first tranche was successfully placed in February 2026.Key details of the Notes are as follows: Denomination: USD, with a face value of USD 10,000 per Note. Minimum Investment: A minimum purchase quantity of five (5) Notes. Term: The Notes are perpetual, with an option for the Bank to call them for early repayment after the fifth year. Coupon: An 8.0% coupon rate, payable semi-annually. Ameriabank CJSC acted as the arranger for the placement. The Notes will be listed on the Armenia Securities Exchange."Following the success of the first tranche, the second tranche of AT1 notes was also fully allocated well ahead of the planned timeline, further demonstrating Ameriabank's strong franchise value and the high level of investor trust in the Bank. The second tranche was placed at a yield to maturity (YTM) 50 basis points lower than the first tranche, reflecting robust investor demand. By further strengthening our capital position, this transaction enhances our financial resilience and provides greater capacity to support our growth”, - Hovhannes Toroyan, Ameriabank's CFO, commented.“This second AT1 issuance at a lower coupon rate underscores the market's confidence in Ameriabank's credit fundamentals and capital strength. The transaction enhances our financial flexibility and supports sustained growth across the Armenian market. I would like to thank the Ameriabank team for their excellent execution of this transaction”, - Giorgi Shagidze, Group CFO said.

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From May 19, the deadline for submitting the calculation of minimum reserves to the National Bank of Georgia has become June 18.According to central and commercial bankers, the reduction, which frees up $250 million for the sector, will not affect loans.It will potentially be transferred to deposits, although given the high deposit margins, it does not pose a risk of slowing the pace of larization.Moreover, the norm increased to 25% was already temporary, as it was announced when it was introduced (the purpose - to contain dollarization before the elections).According to the National Bank of Georgia statistics, as of June (01.06.2026), banks have 6.8 billion lari in deposits at the National Bank, of which 5.6 billion lari are required reserves.

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The award honors organizations that systematically integrate gender balance, diversity, and leadership into their corporate strategies and ensure effective implementation across all levels of the organization.It aims to highlight best practices in companies where equality and diversity are recognized as key drivers of business growth and effective management, and where progress is guided by data, accountability, and a long-term strategic vision.“International recognition once again underscores that promoting gender equality and diversity is an integral part of TBC’s strategy. Our ESG strategy clearly defines the key priorities and areas of focus in sustainability and is reinforced by comprehensive policies and procedures, including the Human Rights Policy and the Diversity, Equality and Inclusion Policy. We are committed to fostering a healthy and equitable workplace where every employee is empowered to reach their full potential. We believe that diverse teams are fundamental to building an innovative and sustainably growing organization”, - Maka Bochorishvili, ESG Coordinator at TBC.The “Balance in Business Awards” competition, established in 2018 by INSEAD Alumni, promotes awareness of the importance of gender balance and diversity in business, while encouraging the exchange of practical tools and best practices among organizations.Each year, the initiative brings together leading companies demonstrating excellence in advancing gender balance, recognizing their progress, strategic vision, and results-driven initiatives.

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The panel also featured Aleš Michl, Governor of the Czech National Bank, and Zoltán Kurali, Deputy Governor of the Central Bank of Hungary.During the session, the panelists examined the impact of geopolitical developments on central bank operations, monetary policy implementation, and international reserve management. Key focal points included reserve diversification strategies, emerging trends in stablecoins and Central Bank Digital Currencies (CBDCs), as well as the opportunities and challenges associated with the deployment of Artificial Intelligence (AI).As part of her working visit to London, Vice-Governor Jeladze also held bilateral meetings with representatives from various European central banks. Discussions centered on opportunities to enhance professional cooperation across central banks, current challenges in banking supervision and regulatory frameworks, and the practical application of emerging technologies, notably AI.The Central Banking Annual Meetings convene representatives from central banks, international financial institutions, and the broader financial sector. The event stands as a premier international platform for exchanging professional expertise and deliberating on pressing industry topics.

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In May, annual inflation stood at 5.7 percent. The increase in inflation relative to the 3 percent target was mainly driven by a significant increase in energy resources prices. These inflationary pressures mainly reflect external factors, including elevated volatility in international energy prices and supply-side disruptions. At the same time, measures of relatively sticky prices, which better reflect long-term inflation expectations, have shown a slight acceleration in the recent period. In particular, core inflation (excluding food, energy and tobacco) stood at 3.5 percent in May, while services inflation was 3.8 percent. Although these indicators remain significantly below headline inflation, their recent dynamics continue to point to risks of strengthening second-round effects. On the other hand, international commodity markets have recently experienced a notable correction in energy prices. Amid growing optimism regarding the prospect of a peace agreement between the US and Iran, international oil prices have declined significantly from their peak levels. This is consistent with the NBG’s central scenario. In particular, the central scenario assumed that strong pressure on inflation caused by the external shock would occur in the second quarter of this year, after which its impact would gradually ease. Therefore, according to the central scenario, inflation will continue its downward tendency from the second quarter of 2026 and will average 4.9 percent in 2026, and will gradually return to the target in the medium term.Economic activity remains strong. The economy grew by 6.2 percent in April 2026, while average growth in the first four months of the year reached 8.3 percent. Notably, high-productive sectors remain a key driver of economic growth, partially offsetting demand-side inflationary pressures.Global uncertainty remains elevated. The main sources of this uncertainty remain the further evolution of the ongoing conflict in the Middle East, developments in international energy prices, and the timeline for the restoration of damaged infrastructure. Therefore, the MPC, in addition to the central scenario, considered both high and low-inflation risk scenarios.In the event of the realization of the high-inflation risk scenario, fundamental processes require a higher trajectory of the monetary policy rate than the central scenario. The high-inflation scenario assumes a further escalation of geopolitical tension over a prolonged period, which would result in additional damage to infrastructure and a delay in the recovery process. Against this backdrop, commodity prices in the international market will increase further and the disruption of supply chains will become widespread. As a result, the supply-side inflationary shock would amplify in Georgia, strengthening second-round effects, and ultimately inflation would be higher than in the central scenario.On the other hand, under the low-inflation risk scenario considered by the MPC, the realization of the risks would allow a faster normalization of monetary policy rate compared to the central scenario. The low-inflation risk scenario assumes that a peace agreement in the Middle East would lead to an immediate stabilization of prices at international commodity markets. In such a case, pressures on energy prices would ease rapidly, which would be reflected in lower domestic inflation. At the same time, Georgia’s external position remains robust. Despite the significant external shock, FX inflows continue to be strong, while the country’s sovereign risk premium remains low, supporting the stability of the real effective exchange rate. Moreover, the continued relative weakness of the U.S. dollar in global markets serves as an additional supportive factor. If these conditions persist, imported goods inflation is likely to be lower than expected, and, as a result, headline inflation will converge to the target more rapidly than in the central scenario.As a result of the ongoing macroeconomic analysis and consideration of existing risks, the MPC considered it appropriate to keep the monetary policy rate unchanged at 8.25 percent. The NBG continues to closely monitor ongoing developments and the intensity of their transmission to the domestic market. If inflationary shocks stemming from geopolitical tensions become even more prolonged and/or their magnitude would amplify the risks of second-round effects, the MPC will continue to moderately increase the monetary policy rate. Thereafter, once the inflationary shock dissipates, the NBG will begin a gradual normalization of the policy stance.The next meeting of the Monetary Policy Committee will be held on July 29, 2026.

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თბილისი (GBC) - Visa (NYSE: V) today announced a strategic collaboration with OpenAI to enable secure Visa payments within agentic commerce, enabling seamless and trusted payments across OpenAI platforms. The companies made the announcement at the Visa Payments Forum in San Francisco. Through the partnership, Visa will provide its global network, credentialing capabilities and security infrastructure to support agentic commerce experiences, helping consumers and businesses interact and transact with confidence.The collaboration is part of the broader Visa Intelligent Commerce initiative, which is focused on extending secure payment capabilities into new digital environments. Together, Visa and OpenAI will also explore a range of enterprise applications, including developer-focused experiences powered by Codex, as well as more automated and conversational workflows, as AI continues to evolve as an important interface for digital interactions.As part of the partnership, Visa’s payment capabilities will be integrated into OpenAI experiences giving developers and merchants a streamlined way to accept Visa payments initiated by agents. Alongside OpenAI, Visa will deliver the underlying network, tokenization and risk capabilities that support trusted and secure transactions.Transactions will operate within clearly defined user permissions, policies, and controls, such as spending limits, merchant categories, or required approvals. Transactions will use tokenized Visa credentials and real-time authorization and fraud monitoring, helping enable new AI-enabled payment experiences to maintain strong security and consumer protection.“AI will transform commerce more profoundly than the internet or mobile technology ever did,” said Jack Forestell, Chief Product and Strategy Officer, Visa. “As AI agents become active participants in the economy, Visa’s focus is to ensure transactions are trusted, secure and seamless. That’s the infrastructure we’re building with partners like OpenAI.”"Commerce is going to happen in many more places and in many more ways than it does today, and agents will play an increasingly important role in helping people complete tasks that involve money—from purchases and payments to more complex transactions,” said Marco Mahrus, Head of Partnerships, Commerce at OpenAI. “By integrating with Visa Intelligent Commerce, we're building the infrastructure for secure, transparent, and user-controlled agentic transactions, helping people do more with AI agents while maintaining confidence that payments are being handled safely and securely." 

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The relevant decision was made by the Financial Stability Committee of the National Bank of Georgia in May, which was officially confirmed by the order of the President of the National Bank of Georgia on June 15. The aforementioned change invalidates the order of July 2025, which set the mandatory larization limit at 750,000 GEL. With the new regulation, this mark increases to 1 million GEL.According to the new rule, citizens and companies whose income is in GEL will no longer be able to take out loans of up to 1 million GEL in foreign currency. In addition, the National Bank specifies that any credit that is in any way tied to or indexed to a foreign currency will not be considered issued in GEL. The regulation also applies to guarantees of an individual, and in certain cases, to obligations arising from bank guarantees and letters of credit.According to the National Bank, the restriction will not apply to several exceptional cases, namely: If, as a result of the issuance of a loan, the borrower’s total liabilities to a specific bank or microfinance organization exceed GEL 1 million; If the borrower is not a citizen of Georgia or is a legal entity not registered in Georgia; If the loan is fully secured by a deposit/cash in the same foreign currency; If the borrower receives sufficient income in the relevant foreign currency to service the loan; If an existing loan is refinanced or restructured in the same currency and the amount of the obligation does not increase. The change will enter into force on July 1, 2026 and its purpose is to reduce currency risks in the financial sector and support the process of larization of the economy.

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The largest amount - $64 million - was transferred from the USA, with an annual increase of 8%. For the same period last year, the annual increase in cash flows from the USA exceeded 23%.There is also a decrease from the European Union, the annual increase is up to 6% (L/Y + 17.3%Y.Y). In May 2025, the growth was more than 17%.As of 01.06.2026, the USA is still leading the donor countries ranking with a 19% share, although with a yearly trend of +3.038%Y.Y. China is ahead by a large margin, whose share in total remittances is still modest - 0.7%.

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