Bank of Georgia
Bank of Georgia is the leading universal bank in Georgia and majority owner of Armenian Ameriabank, serving retail, MSME, and corporate customers through a digital-first platform with 1.7 million monthly active users and a regional cross-border payments ecosystem.
- Company typePublic
- Founded1903
- HeadquartersTbilisi, Georgia
- Headcount5,001–10,000
- GTM typeB2B and B2C
- OfferingServices
What Bank of Georgia does
Bank of Georgia (JSC Bank of Georgia) is the primary banking subsidiary of London-listed Lion Finance Group PLC (LSE: BDGSF) and the leading universal bank in Georgia, serving retail, MSME, and corporate customers through an integrated physical branch network and a digital-first platform. Its digital banking platform supports 1.7 million monthly active users with over 99% of transactions conducted remotely and has been recognized by Global Finance as the World's Best Digital Bank in the consumer category for two consecutive years. The bank has extended this position beyond Georgia through its April 2024 acquisition of a 60% stake in Armenian Ameriabank for $303.6 million, creating a cross-Caucasus franchise.
The underlying technology stack is built around a cloud-based digital banking platform with open banking APIs and AI integration across personalization, fraud detection, and operational automation. The bank describes an "ecosystem mindset" anchored on contextual finance, providing integrated financial and lifestyle services through a platform model that connects partners and customers. Complementing the digital layer is a corporate and SME relationship management channel supported by facilities such as the EBRD/EU MSME financing program and a $45 million trade finance facility co-arranged by Citi and the Asian Development Bank.
Bank of Georgia generates revenue through net interest income from a loan portfolio that grew 16.1% in Georgia and 28% in Armenia in FY2025, supplemented by non-interest income from transaction services, payments, and wealth management. Record FY2025 results delivered nearly GEL 2.2 billion in net income (approximately US$730 million), 28.4% ROE, and quarterly ROE of 32.7% in Georgia and 26.8% at Ameriabank. The group funds growth through a mix of customer deposits, capital raises (including a $166 million round in late 2025), and wholesale debt, most recently a $300 million senior unsecured notes issuance in May 2026 led by JPMorgan, Citigroup, and Galt & Taggart.
Bank of Georgia firmographics
Firmographics- Name
- Bank of Georgia
- Legal name
- JSC Bank of Georgia
- Website
- https://bankofgeorgia.ge
- Company type
- Public
- Founded year
- 1903
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Bank of Georgia is the leading universal bank in Georgia and majority owner of Armenian Ameriabank, serving retail, MSME, and corporate customers through a digital-first platform with 1.7 million monthly active users and a regional cross-border payments ecosystem.
- Ownership category
- akta.pro rank
Bank of Georgia industry classification
Industry- Product category
- Universal Banking
- NAICS
- Commercial Banking (52211), Commercial Banking (522110)
- SIC
- National Commercial Banks (6021), State Commercial Banks (6022)
- akta.pro primary industry
- General SME & Middle-Market Commercial Banking (FSABABAA)
- akta.pro secondary industries
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)
Keywords
Where Bank of Georgia is headquartered
LocationHeadquarters
- HQ city
- Tbilisi
- HQ country
- Georgia
- HQ region
- Asia
Offices2 records
Markets served
Bank of Georgia business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Net Interest Income: Interest income from loan portfolio (16.1% loan book growth in Georgia, 28% loan portfolio growth in Armenia). Core banking revenue from lending activities to retail, SME, and corporate customers.
- Non-Interest Income: Fee income from transaction services, payment processing, wealth management, and other banking services. Record Q4 2025 results with net income of nearly GEL 2.2 billion and 28.4% return on equity.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels3 records
Bank of Georgia product offering
Product offeringCore offering
Bank of Georgia operates as a universal bank providing retail, SME, and corporate banking products including deposit accounts, loans, payment services, and trade finance. It serves customers primarily in Georgia through a digital-first platform (with over 99% of transactions conducted remotely) and physical branches, and expanded into Armenia via the 60% acquisition of Ameriabank in 2024. Non-interest income is generated from transaction services, payment processing, and wealth management, while interest income comes from lending activities across retail, SME, and corporate segments.
Product overview
Bank of Georgia operates as a financial services institution providing retail and corporate banking products. The company's digital banking platform has been recognized globally as the World's Best Digital Bank for consumer digital banking for two consecutive years (2024-2025), with 1.7 million monthly active digital users and over 99% of transactions conducted remotely. The bank operates through its core Georgian operations and its Armenian franchise Ameriabank, acquired in 2024.
Differentiator
Problem solved
Functional benefit
Products and services
- Digital Banking Platform
Quantifiable outcome
- 1.7 million monthly active digital users with over 99% of transactions conducted remotely
- +3 more outcomes
Companies that use Bank of Georgia
Customer profileSegments3 records
Ideal customer profiles4 records
Bank of Georgia technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Bank of Georgia partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Arca National Payment SystemflagshipArca National Payment System, Bank of Georgia, and Ameriabank signed MoU during PLUS Forum in Yerevan to promote interoperability between payment systems. Initiative enables instant transfers between Armenia and Georgia and establishes host-to-host connection for card acceptance and servicing.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Bank of Georgia competitors and assessment
Company assessmentRegional players
- Kazatomprombank (Halyk Bank): Halyk Bank is Kazakhstan's dominant universal bank and a CIS-region comparable, offering retail, SME, and corporate banking with strong digital adoption. It serves as a benchmark for how a CIS universal bank can scale digital banking and build cross-sell across the post-Soviet customer base.
- Priorbank: Priorbank is a leading Belarusian universal bank, majority-owned by Raiffeisen. It serves as a comparable post-Soviet universal banking franchise with retail, SME, and corporate operations, though it operates in a different regulatory and geopolitical environment.
Broad incumbents
- Kaspi.kz: Kaspi.kz is a super-app combining payments, marketplace, and financial services in Kazakhstan. It is a relevant comparable for Bank of Georgia's ecosystem and contextual finance platform approach, showing how a regional bank can extend into adjacent lifestyle services.
- Raiffeisen Bank International: Raiffeisen Bank International is a leading Central and Eastern European universal bank with a strong presence across the CEE and CIS regions. It is comparable as a broad incumbent operating retail and corporate banking in markets adjacent to Georgia and Armenia.
Direct peers
- maib (Moldova Agroindbank): maib is Moldova's largest universal bank and a direct regional peer serving retail, SME, and corporate customers. The incoming Group CFO Giorgi Shagidze was previously maib's CEO, underscoring the operational comparability between these post-Soviet universal banking franchises.
- TBC Bank Group: TBC Bank is the other dominant universal bank in Georgia, directly competing with Bank of Georgia in retail, SME, and corporate banking. The two have historically alternated the "Safest Bank in Georgia" ranking and together define the Georgian duopoly.
- Ameriabank: Ameriabank is Bank of Georgia's 60%-owned Armenian subsidiary, operating as a universal bank in Armenia. While now part of the group, it remains the primary banking competitor in the Armenian market and a direct comparable for Armenian retail and corporate banking economics.
Others
- Citigroup: Citigroup served as joint lead manager on Bank of Georgia's $300M notes offering and arranger of the $45M trade finance facility. As an enabling capital markets partner, Citi represents the type of international institutional relationship that anchors Bank of Georgia's funding strategy.
- EBRD (European Bank for Reconstruction and Development): EBRD is a minority shareholder in both Bank of Georgia and Ameriabank and a key financing partner. While not a competitor, it is a relevant ecosystem participant that influences capital availability and regulatory standing for Bank of Georgia's regional expansion.
- J.P. Morgan: J.P. Morgan served as joint lead manager on Bank of Georgia's $300M senior unsecured notes offering. As a global investment bank, it is an enabling counterparty that signals access to top-tier international debt capital markets and supports the bank's growth funding strategy.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Bank of Georgia social profiles
Digital presenceBank of Georgia financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bank of Georgia leadership team
Management profileNumber of profiles
Profiles9 records
Bank of Georgia subsidiaries and ownership
Company hierarchySubsidiaries1 record
Bank of Georgia funding detail
Funding detailFunding overview
Funding rounds4 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bank of Georgia M&A and investment
M&A and investmentM&A1 record
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bank of Georgia
What does Bank of Georgia do?
Bank of Georgia operates as a universal bank providing retail, SME, and corporate banking products including deposit accounts, loans, payment services, and trade finance. It serves customers primarily in Georgia through a digital-first platform (with over 99% of transactions conducted remotely) and physical branches, and expanded into Armenia via the 60% acquisition of Ameriabank in 2024. Non-interest income is generated from transaction services, payment processing, and wealth management, while interest income comes from lending activities across retail, SME, and corporate segments.
Is Bank of Georgia a public or private company?
Bank of Georgia is a public company. It is classified as public and is currently operating.
When was Bank of Georgia founded?
Bank of Georgia was founded in 1903. It employs 5,001 to 10,000 people.
Where is Bank of Georgia based?
Bank of Georgia is headquartered in Tbilisi, Georgia, in the Asia region.
How does Bank of Georgia make money?
Two revenue lines are on record. Net Interest Income is the primary driver. The others are non-Interest Income.
Who are Bank of Georgia's main competitors?
Regional players on record are Kazatomprombank (Halyk Bank) and Priorbank. Broad incumbents are Kaspi.kz and Raiffeisen Bank International. Direct peers are maib (Moldova Agroindbank), TBC Bank Group and Ameriabank. Others are Citigroup, EBRD (European Bank for Reconstruction and Development) and J.P. Morgan.
Does Bank of Georgia have an API?
No public API is recorded for Bank of Georgia.
What industry is Bank of Georgia in?
Bank of Georgia's product category is Universal Banking. Its primary akta.pro industry code is FSABABAA, General SME & Middle-Market Commercial Banking, with a secondary code of FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings). Its NAICS code is 52211 and its SIC code is 6021.