BAKU, Azerbaijan, November 22
By Tamilla Mammadova – Trend:
Georgian Financial Group (GFG) has replenished its stake in Georgian Liberty Bank to 91.18 percent, Trend reports citing Georgian media outlets.
At the end of the second quarter of 2019, the bank’s majority stakeholders owned only 75 percent stake. After the new deal, the stake rose by 16 percent.
In August 2019, deals worth 18 million lari ($6 million) were concluded on Liberty Bank shares. At the end of the third quarter, the bank’s profits marked 16.1 million lari ($5.4 million).
The Liberty Bank, formerly the People's Bank of Georgia, is a private bank and the third largest bank in the country with total assets amounting to 5.6 percent market share as of June 2017. It has the largest network of branches in Georgia.
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