Our History
For over 30 years, Basisbank has evolved from a single service center with a modest capital base into one of Georgia’s leading universal banking groups. Our history is characterized by sustainable growth, strong governance, and strategic transformation, supported by a consistent focus on operational excellence and long-term value creation.
1993 - Foundation of Basisbank
Basisbank was founded in 1993 by a group of visionary mathematicians in Tbilisi. Launched with a modest capital of GEL 5 million and a small team, the Bank quickly navigated the complex post-Soviet transition environment. Through rational decision-making, transparency, and strategic clarity, Basisbank laid a strong foundation for future growth, consistently adhering to a forward-looking business model focused on resilience and development.
2000s - Laying Strategic Foundations
During the 2000s, Basisbank made significant strides in strengthening its foundations. The Bank acquired a new head office, expanded its sales network, introduced debit and credit cards, including the first credit card on the Georgian market, initiated its first partnerships with International Financial Institutions and established growth-oriented platforms driven by internal resources.
These achievements were the strategic basis for solid future performance, enhancing the Bank’s attractiveness to global investors seeking to enter Georgia’s emerging financial sector.
2008 - EBRD Investment and Institutional Growth
In 2008, Basisbank entered a transformative phase as the European Bank for Reconstruction and Development (EBRD) acquired a 15% equity stake.
Under the EBRD's two-year Institutional Building Plan, Basisbank significantly enhanced its corporate governance framework, remodeled its organizational structure to become more agile and efficient, and implemented international best practices. That same year, Basisbank received its first international credit rating from Fitch Ratings, underscoring the institution’s growing maturity and credibility within the market.
As a result of consistent steps taken from management and employees, the brand grew stronger, and the Bank secured its 11th position on Georgian Banking market.
2012 - Acquisition by Hualing Group
The year 2012 marked a major milestone with the acquisition of 90% of Basisbank’s shares by Xinjiang Hualing Industry & Trade Group, one of Georgia’s largest private investors.
Following the acquisition, the Bank embarked on a trajectory of accelerated growth, achieving profound operational and financial results. Basisbank rapidly moved from the 11th to the Top 5 largest banks in Georgia, all while maintaining sound risk management and strong profitability.
2017 - Formation of Basisbank Group
In 2017, Basisbank took another strategic step forward by establishing two wholly-owned subsidiaries, BB Insurance and BB Leasing, forming the Basisbank Group (BB Group).
This expansion into a diversified financial services group enabled Basisbank to broaden its customer offering, create synergies across operations, and strengthen its presence in the Georgian financial services market.
2022 - Acquisition of VTB Bank Georgia's Portfolios
Basisbank achieved a landmark transaction in 2022 with the acquisition of VTB Bank Georgia’s total retail and part of its corporate portfolios. This acquisition added GEL 787 million in loan portfolios and GEL 665 million in deposit portfolios to the Bank, along with more than 135,000 new customers, 24 new branches, and over 350 new employees. As a result, Basisbank’s total assets increased by over 50%, securing its position as the fourth-largest bank in Georgia with a market share of 4.4%.
This transaction was a key strategic move, transitioning Basisbank into a fully universal bank, capable of serving all customer segments while maintaining a focus on sustainable, profitable growth.
2023 - Advancing Strategic Transformation
In 2023, Basisbank continued to execute its strategic transformation plan to reinforce its universal banking model. The Bank embarked on operational restructuring and introduced Agile structure for strategic directions, invested in digital banking capabilities, and redefined customer journeys to meet the evolving expectations of retail and corporate clients.
Today - A Leading Universal Bank
Today, Basisbank Group stands as one of Georgia’s leading, most dynamic and trusted financial institutions.
With a clear roadmap ahead, we are focused on expanding our market presence across retail and business banking, leveraging digital innovation, and delivering superior value to clients, investors, partners, and the wider community to build on our strength as a top-of-mind customer-centric, forward-looking bank.
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