There are 16 commercial banks operating on the Georgian banking sector. Two largest banks TBC bank and Bank of Georgia have almost 60% of total sector assets, however competition is assessed as intense. These two banks are listed on London Stock Exchange (LSE) as a result almost half of Georgian banking Sector is traded on the LSE.
Banks in Georgia are very reliable and operate on international level. They have trained employees who speak on several languages including English and Russian. Georgian banks are among the pioneers worldwide in implementing newest elements of digital banking, such as internet and mobile banking, both are very easy to use.
This makes banking in Georgia very simple and easy. It takes only 20 minutes to open bank account in any of Georgia’s banks and it takes as little as $10. Account can be opened in several currencies such as USD, EUR, GBP and of course Georgian Lary, as well as some other currencies by additional request. This of course means that you can exchange money between currencies in one click from your internet or mobile bank.
Georgian Banks offer Visa, MasterCard, American Express and even Electron debit and credit cards, that are easily usable thru-ought the world in ATM’s and POS terminals and visa versa, you can use cards from bank institution from all over the world in ATM’s and POS terminals in Georgia.