Question 1

What is Liberty Bank?

Accepted Answer

Liberty Bank is a private commercial bank in Georgia and the third-largest bank in the country by total assets. With a market share of approximately 5% as of 2023, Liberty Bank operates the largest branch network in Georgia, serving more than 1.6 million individual customers and approximately 50,000 businesses.

The bank offers comprehensive retail, business, and private banking services across its extensive network of over 370 branches and 647 ATMs throughout Georgia.

Question 2

When was Liberty Bank founded?

Accepted Answer

Liberty Bank traces its origins to 1993 when it was established following the privatization of the state-owned "AgroMretsvBank" in 1994. The bank was initially renamed "People's Bank of Georgia" in 2002, operating under that name until September 2009.

In September 2009, the bank underwent a significant transformation when 91.2% of its shares were acquired by Liberty Investments Holding B.V., a joint venture between Georgia's former Prime Minister Lado Gurgenidze and Romanian businessman Dinu Patriciu. At that time, the bank was rebranded as Liberty Bank.

In 2017, Liberty Bank experienced another change of control when European Financial Group B.V., a Netherlands-based company, purchased 74.64% of the equity interest. The ultimate beneficial owners are Irakli Rukhadze (US citizen), Ben Marson (UK citizen), and Igor Alexeev (US citizen).

Question 3

Where is Liberty Bank headquartered?

Accepted Answer

Liberty Bank is headquartered at Liberty Tower, 74 Ilia Chavchavadze Avenue, Tbilisi 0162, Georgia. The headquarters serves as the administrative center for the bank's operations across the country.

Question 4

Where does Liberty Bank operate?

Accepted Answer

Liberty Bank operates exclusively within Georgia, maintaining the country's largest branch network with over 370 branches distributed across all regions. The bank has established a comprehensive presence in both urban and rural areas, making it accessible to a significant portion of Georgia's population.

The extensive network includes 647 ATMs strategically located throughout the country, as well as numerous self-service terminals and Liberty Express Centers that provide quick banking services.

Question 5

What services does Liberty Bank offer?

Accepted Answer

Liberty Bank provides a full spectrum of banking services for individuals, businesses, and private banking clients. For individual customers, the bank offers current accounts, savings accounts, time deposits, certificates of deposit, debit cards, consumer loans, car loans, and mortgage loans.

Business banking services include corporate accounts, business loans, trade finance, and treasury services. The bank also facilitates budget transfers and provides extensive money transfer services through partnerships with Western Union, Unistream, MoneyGram, Contact, Ria, Zolotaya Korona, Intel Express, Blizko, Xpress Money, Welsend, and Rico Gram.

Digital banking services are comprehensive, featuring a mobile banking application with over 1 million downloads, internet banking platforms, and digital card options. The mobile app allows customers to manage accounts, transfer funds, pay bills, deposit checks remotely, exchange currencies, and locate nearby branches and ATMs. The app supports biometric authentication including fingerprint and PIN code access.

Liberty Bank also provides specialized services for non-residents, offering banking solutions tailored to international customers with favorable exchange rates and convenient account opening procedures.

Question 6

What makes Liberty Bank unique?

Accepted Answer

Liberty Bank distinguishes itself through its unparalleled branch network—the largest in Georgia—ensuring accessibility to banking services across the entire country. This extensive coverage was instrumental in the bank winning a government tender for the distribution of state pensions and social benefits.

The bank has been at the forefront of payment technology innovation in Georgia. In 2006, Liberty Bank became a Visa Principal Member and was designated as Visa's strategic partner in Georgia. It was one of the first banks in the Transcaucasus region to launch peer-to-peer (P2P) card transfers via ATMs, and it became the first bank in Georgia certified for acquiring UnionPay magnetic stripe cards in 2012.

Liberty Bank achieved PCI DSS compliance in 2011 and has maintained strong security standards throughout its operations. The bank holds a B+ credit rating from Fitch, indicating its financial stability within the emerging market context.

Question 7

What type of financial institution is Liberty Bank?

Accepted Answer

Liberty Bank operates as a universal commercial bank (Joint Stock Company - JSC) under Georgian banking regulations. As a universal bank, it provides the full range of retail, commercial, and private banking services to individuals, businesses, and institutional clients.

The bank is authorized and supervised by the National Bank of Georgia and participates in the Deposit Insurance Agency of Georgia (DIAG), protecting deposits up to 15,000 GEL per depositor. Liberty Bank is also listed on the Georgian Stock Exchange, making it a publicly traded banking institution.

Liberty Bank

in Georgia 🇬🇪

Crypto-Friendliness

All done!

About Liberty Bank in Georgia