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BasisBank, owned by China-based Hualing Group, has acquired a 95.99% controlling stake in Liberty Bank, the third-largest bank in Georgia by assets. The transaction strengthens the acquirer's presence in the South Caucasus banking sector and aligns with increasing economic engagement between Georgia and China. Liberty Bank held a 5.5% market share as of mid-2025. The deal forms part of Hualing Group's broader strategy of expanding its financial services footprint in Georgia, where bilateral trade with China has seen steady growth in recent years.
BasisBank has acquired a 95.99% controlling stake in Liberty Bank, marking a significant consolidation in Georgia's banking sector, according to an announcement made in the past week. Advertisement
The acquiring entity is owned by Hualing Group, a China-based conglomerate with established investments in Georgia's financial services sector. The transaction provides BasisBank with a controlling position in Liberty Bank, which is currently the third-largest lender in the country by total assets.
Liberty Bank held a market share of approximately 5.5% as of mid-2025, positioning it as a key player in Georgia's banking landscape. The acquisition is expected to strengthen BasisBank's operational capacity and expand its footprint in retail and commercial banking segments.
Company officials indicated that the transaction is aimed at enhancing competition within the Georgian banking market while improving access to financial services. The combined entity is expected to expand financing availability for businesses and support broader economic activity.
The acquisition forms part of Hualing Group's long-term investment strategy in Georgia. The conglomerate first entered the country's banking sector in 2012 with the acquisition of a controlling stake in BasisBank. It subsequently expanded its presence in 2016 by acquiring Socit Gnrale's stake in Bank Republic, further consolidating its position in the market.
The deal also reflects strengthening economic ties between Georgia and China over the past decade. Bilateral trade between the two countries has grown steadily, reaching USD 2.7 billion in 2025, representing a year-on-year increase of 19.5%. China is currently Georgia's fourth-largest trading partner, indicating increasing economic integration.
Market participants expect the transaction to contribute to increased competition among financial institutions in Georgia, particularly in lending and retail banking services. The expanded balance sheet and combined capabilities of the two banks are likely to support greater credit availability across sectors.
The development underscores a broader trend of cross-border investments in financial services within emerging markets, where foreign-backed institutions are seeking to scale operations through acquisitions. In Georgia, such investments have played a role in deepening the banking sector and improving capital access.
With this acquisition, BasisBank strengthens its position within Georgia's banking system, while Hualing Group continues to expand its regional financial services portfolio through targeted investments.
Source - Reuters
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