Owner of Imedi TV Irakli Rukhadze to sell Liberty Bank - BMG

Businessman Irakli Rukhadze, known for his ties to the government and ownership of Imedi TV, is reportedly in talks to sell Liberty Bank. According to BMG, Rukhadze revealed two months ago that negotiations were underway with several companies, including Basisbank.

Liberty Bank is Georgia’s third-largest bank, following Bank of Georgia and TBC. Basisbank is ranked just below Liberty in terms of assets. Sources familiar with the deal told BMG that an agreement between Basisbank and Liberty Bank could be finalized within weeks. Basisbank confirmed to Radio Liberty that talks were in progress but declined further comment until the deal is completed. Calls to Rukhadze and Liberty Bank’s press office went unanswered.

Any deal involving major players in the banking sector would require approval from the National Bank of Georgia. However, the central bank told media that it was not currently processing the deal.

As of April 2025, Liberty Bank reported assets of 5.45 billion lari and a loan portfolio of 3.9 billion lari, with a net profit of 40 million lari in the first four months of the year. Basisbank, owned by China’s Hualing Group, has assets of 4 billion lari and a loan portfolio of 3 billion lari, with a profit of 31 million lari in the same period.

If the deal goes through, the combined entity would hold assets of 9 billion lari and a loan portfolio of nearly 7 billion lari, representing around 10% of Georgia’s banking sector by both measures.

Rukhadze’s name has also appeared in recent discussions in the United States regarding possible sanctions. One notable instance was when Republican Congressman Joe Wilson included Rukhadze in a list of individuals seen as enablers of state capture in Georgia.