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Eurogiro welcomes Liberty Bank of Georgia
On 19 September 2009, the Bank was
acquired by Liberty Capital LLC, a wholly-
owned subsidiary of Liberty Investments
Holding B.V., a Dutch investment company
founded by Dinu Patriciu and Lado
Gurgenidze.
Liberty bank is a universal bank, serving
both retail and corporate clients. It is the
fourth largest bank in Georgia with the
largest branch network and the largest
retail client base, currently serving 1.3 mil-
lion individuals through 274 branches and
service points. Liberty Bank is the market
leader for provision of remittance services
via 21 money transfer systems, with an ap-
proximately 42% market share in Georgia.
Liberty Bank is also the market leader in
utility bill payment services.
Liberty Bank is the most dynamically grow-
ing bank in the country. Its total assets grew
by over 150% during the two years since its
acquisition by Liberty Capital, three times
faster than the Georgian banking sector,
to become the fourth largest bank in the
country (from being the seventh largest in
September 2009). Liberty Bank's market
share by total assets increased from 3.5%
to 6.2% over the same period, while the
market share by net loans grew from 1.7%
to 4.4% as a result of a 274% growth of its
net loan book. Client balances & deposits
has grown by 253% during the past two
years, as the market share by client ba-
lances and deposits increased from 5.8%
to 9.2%.
Liberty Bank will connect to the Eurogiro
network through SWIFTNet Closed User
Group (SECUG) under the Multilateral
Framework. Liberty Bank plans to build
multilateral payment relationships by
participating in Eurogiro’s Multilateral
Framework that provides better speed to
market for payment relationships within
the Eurogiro community.
Liberty Bank sees remittances as an
important growth opportunity for retail
banks. As a leader in providing remittance
services in Georgia, Liberty Bank seeks to
further strengthen its position in the market.
Eurogiro membership gives the bank an op-
portunity to enter into tailored business re-
lationships with other community members
and achieve extensive geographical reach
through Eurogiro’s customer network.
Eurogiro membership also creates an op-
portunity to possibly build a white-label
Eurogiro News 7
remittances product, which allows member
institutions to enter the growing market-
place of money transfer services, whilst
avoiding the extensive costs and com-
plexities of developing a global remittance
infrastructure.
3
Liberty Bank (the “Bank”) is the successor to the state-owned AgroMretsvBank which was
privatised in 1995
Headquarters of Liberty Bank in Tbilisi
4 I EUROGIRO NEWS
Eurogiro News is a magazine for the promotion of
information, ideas and knowledge within the Eurogiro
community and is published quarterly by:
Eurogiro A/S
Telegade 1, 1.
DK – 2630 Taastrup
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Editor-in-Chief: Tjeerd Rienstra
Production & subscription manager:
Hanne S. Basset
e-mail: [email protected]
Final editing: February 2012
ISSN: 1727-7450
13 – 15 March 2012
IPS International Payments Summit in
London, United Kingdom
25 – 27 April 2012
Asian Banker Summit in Bangkok,
Thailand
8 – 10 May 2012
Eurogiro Community Meeting in Athens,
Greece
12 – 14 June 2012
Eurogiro Technical User Group Meeting
in Milan, Italy
Activity Calendar 2012
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