TBILISI, April 16 (Reuters) - Georgia's BasisBank, owned by Chinese conglomerate Hualing Group, has acquired a 95.99% ownership stake in Liberty Bank, the South Caucasus country's third-largest lender
BasisBank Purchases 95.99% Stake in Georgia’s Liberty Bank, Strengthening Market Position
Strategic Acquisition and Its Impact on Georgia’s Banking Sector
Details of the Acquisition
TBILISI, April 16 (Reuters) - Georgia's BasisBank, owned by Chinese conglomerate Hualing Group, has acquired a 95.99% ownership stake in Liberty Bank, the South Caucasus country's third-largest lender, BasisBank said on Thursday.
Liberty Bank is Georgia's third-largest bank by assets, with 5.5% market share as of June 2025.
Statements from BasisBank Leadership
Commitment to Market Competition and Customer Value
"Through this transaction, we are strengthening competition in the market while delivering greater value to our customers," David Tsaava, general director of BasisBank, said in a statement.
Expansion of Financing and Economic Growth
"With increased capacity, we will expand access to financing and unlock new opportunities for businesses, playing a significant role in driving Georgia's economic growth."
Hualing Group’s Growing Presence in Georgia
Previous Banking Acquisitions
Hualing Group, based in China's Xinjiang region, has snapped up several banking assets in Georgia in recent years. It bought a controlling stake in BasisBank in 2012 and purchased Societe Generale's controlling stake in Bank Republic in 2016.
Strengthening Economic Ties Between Georgia and China
Trade Growth and Bilateral Relations
Tbilisi has significantly boosted its economic relations with Beijing in the past decade, with China now serving as Georgia's fourth-largest trading partner. Bilateral trade reached $2.7 billion in 2025, a 19.5% jump from the previous year, according to Beijing's ambassador in Tbilisi.
(Reporting by Lucy Papachristou Editing by Andrew Osborn )
