National Bank of Georgia

What National Bank of Georgia does

The National Bank of Georgia (NBG) is the central bank of Georgia, headquartered in Tbilisi at Zviad Gamsakhurdia Sanapiro #1, with origins dating to 1918-1920 and re-established in its modern form in 1991 following Georgian independence. Its mandate spans three core functions: monetary policy (inflation targeting with a current policy rate of 8.25%), foreign exchange reserve management ($7.0 billion in international reserves as of May 2026, including 7.1 tons / 229,478 ounces of monetary gold and sovereign debt from the US, Eurozone, and Canada), and banking and payment supervision of commercial banks, microbanks, and non-bank payment service providers. NBG also issues the national currency, the Georgian Lari (GEL), introduced in 1995, and operates the Money Museum and FinEdu.gov.ge financial education portal.

NBG's core technology infrastructure centers on the Real-Time Gross Settlement (RTGS) platform and Automated Transfer System (ATS), which were modernized in June 2026 in a partnership with US-based Montran spanning more than 25 years. The upgraded systems support ISO 20022 messaging, real-time payments, 24/7 processing, and bulk clearing. A forthcoming Instant Payments System (IPS) is scheduled to go live by the end of 2026. Supporting systems include the Georgian Central Securities Depository (GCSD) for Delivery-versus-Payment settlement, the TIBR interbank rate indices, the FPAS macroeconomic forecasting system, and a PSD2-aligned open banking framework. NBG does not hold subsidiaries and has no parent company; it is governed by a 9-member Board led by President Natia Turnava, the first woman to hold the position permanently, appointed February 7, 2025.

As a central bank, NBG does not operate on commercial revenue or pricing models. Its "revenue" derives from returns on its foreign exchange reserves and from monetary policy operations, and its customer base is defined statutorily as every licensed bank, microbank, and payment service provider in Georgia. Distribution is direct through RTGS infrastructure and regulatory oversight. The institution has won five consecutive Global Finance Best Central Banker awards (2018-2022) and multiple Central Banking Awards for transparency, risk management, and FinTech policy, reflecting international recognition of its operational performance.

Name

National Bank of Georgia

Legal name

National Bank of Georgia

Website

https://nbg.gov.ge

Company type

Public

Founded year

1991

Operating status

Operating

Headcount range

501–1,000 employees

Short description

The National Bank of Georgia is the central bank of Georgia, responsible for monetary policy, foreign exchange reserve management ($7.0B), and supervision of commercial banks, microbanks, and payment service providers. It operates the national RTGS payment infrastructure and issues the Georgian Lari.

Ownership category

akta.pro rank

Product category

Central Banking

NAICS

Monetary Authorities-Central Bank (52111), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Central Bank Reserve Management (FSAAAGAF)

akta.pro secondary industry

Central Government Policy, Strategy & Performance (incl. OMB-style functions) (BPAIAAAB)

Keywords

• Central banking services
• Monetary policy operations
• Payment system infrastructure
• Banking supervision
• Foreign exchange reserves

Headquarters

HQ city

Tbilisi

HQ country

Georgia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure

Revenue model

1. Monetary Policy Operations: As central bank, NBG conducts monetary policy through interest rate management, reserve requirements, and open market operations to maintain price stability
2. Foreign Exchange Reserve Management: Investments in government securities of developed economies, international financial institutions, and gold reserves
3. Payment System Services: RTGS and payment infrastructure services for commercial banks and financial institutions

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

The National Bank of Georgia (NBG) is the central bank of Georgia, operating as the country's monetary authority. It issues the national currency (Georgian Lari), formulates and implements monetary policy under an inflation-targeting framework, holds and manages foreign exchange reserves ($7.0 billion), supervises and regulates the financial sector, and operates the national payment infrastructure including the Real-Time Gross Settlement (RTGS) system, Automated Transfer System (ATS), and securities settlement systems.

Product overview

The National Bank of Georgia operates as the country's central bank, providing national payment infrastructure and issuing currency. Its product portfolio centers on Georgia's payment ecosystem: the Automated Transfer System (ATS) underpinning the RTGS platform (modernized 2026 with Montran, supporting ISO 20022, 24/7 processing, and bulk clearing), a forthcoming Instant Payments System (IPS, end 2026), card payment networks, and securities settlement (GCSD). It also manages the Georgian Lari (GEL) currency — banknotes in denominations of 5–200 GEL and coins of 5 tetri to 2 GEL — plus numismatic and investment coins. Open banking is enabled through a PSD2-aligned framework. Supporting offerings include the FinEdu.gov.ge financial education portal and the Money Museum.

Differentiator

Problem solved

Functional benefit

Brands

• TIBR (Tbilisi Interbank Rate): Interest rate index used as representative money market statistics

Products and services

• Real-Time Gross Settlement (RTGS) System NBG's flagship payment infrastructure platform that processes high-value payment instructions on a transaction-by-transaction basis with final and irrevocable settlement in central bank money, used by commercial banks, microbanks, and payment service providers in Georgia.
• Automated Transfer System (ATS) NBG's core interbank transfer system modernized via Montran's platform, providing 24/7 processing, real-time payments, bulk clearing, and enhanced operational resilience for the Georgian national payment ecosystem.
• Card Payment Systems NBG oversees card payment infrastructure in Georgia including nationally branded cards, international Visa and Mastercard acceptance, contactless payment cards, and mobile NFC payment capabilities enabled through banking applications.
• Georgian Central Securities Depository (GCSD) Securities clearing and settlement system operated by NBG, integrated with the RTGS for Delivery-versus-Payment (DvP) transactions to support the Georgian capital market.
• Open Banking (PSD2 Framework) PSD2-aligned open banking regulations providing common and secure open standards that enable third-party payment service providers and fintech firms to access bank account data with customer consent.
• Georgian Lari (GEL) Banknotes and Coins Georgia's national currency issued by NBG consisting of circulation banknotes in denominations of 5, 10, 20, 50, 100, and 200 GEL, and circulation coins in 5, 10, 20, 50 tetri, 1 GEL, and 2 GEL denominations.
• Collection Coins and Precious Metal Investment Coins Numismatic commemorative coins and gold/silver precious metal investment coins produced by NBG for collectors and investors, distributed through the official NBG online store and partner network.

Quantifiable outcome

• Annual inflation maintained at target levels
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core and minor.

• MontrancoreTechnology or Integration · 3 June 2026US-based payment infrastructure provider Montran has partnered with NBG for over 25 years. Successfully launched modernized RTGS platform with ISO 20022 messaging, 24/7 processing, real-time payments, and bulk clearing capabilities. Implementing Instant Payments System expected by end of 2026.
• Pave BankminorChannel Partner/ Reseller/ Distributor · 30 October 2025Pave Bank holds banking license from NBG; Singapore-based fintech focused on digital assets

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Central Bank of Armenia: Direct regional peer: another small post-Soviet central bank managing monetary policy, FX reserves, and banking supervision for a neighboring Caucasus economy. Comparable scale, inflation-targeting regime, and remittance-driven external sector dynamics make it the closest functional mirror to NBG.
• National Bank of Ukraine: Post-Soviet peer central bank operating under inflation targeting with active monetary policy and a modernized RTGS-like interbank settlement system. Comparable institutional structure, currency-issuer role, and wartime/geopolitical operating environment create strong functional parallels.
• Central Bank of the Republic of Azerbaijan: Direct regional peer: another Caucasus central bank responsible for monetary policy, FX reserves (oil-related inflows), banking supervision, and national payment infrastructure. Similar institutional mandate and supervisory scope over a comparable banking sector.
• Bank of Lithuania: Small, advanced European central bank with an aggressive fintech and digital-asset licensing stance (notably around virtual asset service providers and CBDC exploration). Comparable size and similar progressive regulatory posture make it a strong functional and innovation benchmark.
• Bank of Israel: Small but technologically advanced central bank operating inflation targeting, FX intervention, and modernized payment systems. Comparable scale of economy, reputation for policy innovation, and openness to fintech experimentation position it as a strong peer.

Broad incumbents

• Central Bank of the Republic of Türkiye: Larger, broader regional central bank operating monetary policy, FX reserves management, and banking supervision with active use of unconventional tools. Useful as a benchmark for orthodox-versus-flexible policy tradeoffs in a similarly inflation-pressured emerging economy.
• National Bank of Kazakhstan: Post-Soviet central bank managing monetary policy, FX reserves (resource-driven), banking supervision, and a national payment system at larger scale than NBG. Comparable institutional history and emerging-market central-banking playbook.
• Bank of England: Benchmark inflation-targeting central bank with mature RTGS (CHAPS) and a published CBDC exploration program. Provides a global reference point for NBG's policy framework, governance structure, and next-generation payment infrastructure design choices.
• Monetary Authority of Singapore: Advanced, innovation-led monetary authority operating monetary policy, integrated financial supervision, and a world-class payments ecosystem. Its fintech licensing and regulatory-laboratory model is functionally comparable to NBG's Financial Innovation Office and VASP regime.

Others

• Montran: US-based payment-infrastructure vendor with a 25+ year strategic partnership delivering NBG's modernized RTGS/ATS and forthcoming IPS. Functions as a critical infrastructure partner rather than a competitor, making it a key ecosystem dependency for NBG's modernization roadmap.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/NBGeorgia

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about National Bank of Georgia