Georgian PM highlights strength of national currency, banking sector at international conference

Georgia’s Prime Minister, Irakli Kobakhidze, has said that growing public confidence and what he described as “strong policy” had reinforced trust in the national currency, the lari, contributing to the stability of the country’s financial sector.

Speaking at the 51st international conference of the Banking Association for Central and Eastern Europe, Kobakhidze noted that the majority of bank deposits in Georgia were now held in the local currency - a shift from previous years.

“This achievement is strongly supported by a robust financial sector, which forms the backbone of the economy, ensuring stability and access to finance,” he said.

He further noted Georgia’s banking sector currently consisted of 19 banks, including three digital banks and two microbanks.

He said the sector maintained strong capital and liquidity positions, while asset quality remained high, supporting sustainable economic growth.

Kobakhidze also pointed to Georgia’s growing presence in international capital markets, noting that shares of leading Georgian banks were listed abroad. 

He highlighted that one major Georgian bank has recently joined the top 100 of the FTSE 100 Index, which includes the largest companies listed on the London Stock Exchange.

He added that medium-sized banks were also operating effectively, offering a wide range of financial services, while Georgian banks were continuing to expand regionally, strengthening connectivity and playing an increasing role in deeper financial integration and cooperation.