Caucasus Banking Sector Shows Resilience with $34.6B Assets

The Caucasus banking sector demonstrates resilience with Georgian commercial banks holding GEL 96.8 billion ($34.6 billion) in total assets as of February 2025.

Georgia's banking sector comprises 17 commercial banks including three online-only banks. TBC Bank and Bank of Georgia, the two largest institutions controlling 70 percent of banking assets, list on the London Stock Exchange.

The banking system remains stable, well capitalized, liquid, and profitable. Banking supervision practices and regulations significantly progressed, largely aligning with Basel and EU directives.

World Bank Global Findex 2021 shows transaction account ownership in Georgia doubled over the past decade, reaching 70.5 percent in 2021. Nearly 62 percent of adults engaged in digital payments.

Challenges persist including low financial literacy and limited financial product access, particularly among poorer households and rural micro businesses.