For the first time in decades, trade is flowing from Armenia🇦🇲 to Azerbaijan🇦🇿 with Georgia🇬🇪 acting as the transit bridge. It’s a clear example of how mutual economic interests will eventually override historical divisions. This is how actual peace is built🙌#SouthCapic.x.com/duJ5ThlSWU5ThlSWU
— Irakli Dekanosidze🇬🇪 (@ishowdeka) Apr 16, 2026
Day: April 16, 2026
BasisBank, owned by a Chinese Hualing Group, acquired Liberty Bank, Georgia’s third-largest bank, which has been co-owned by the ruling party-close businessman Irakli Rukhadze, the former owner of pro-government Imedi channel, who had sold the TV shares shortly before it was sanctioned by the UK.
The banks reported the completion of the transaction on April 16, stating that BasisBank became the owner of 95.99% of Liberty Bank’s shares after receiving the necessary regulatory approvals. Liberty Bank has secured major state contracts, including being the exclusive agent for distributing state pensions.
The completion of the deal follows months of negotiations between the two banks, as Liberty Bank co-owner Irakli Rukhadze confirmed plans in April 2025 to sell the bank. In November, however, reports said that BasisBank would no longer acquire Liberty Bank, as Rukhadze said talks between the banks were still ongoing about a possible merger.
The banks, however, did not disclose the sale price. Their general directors – Davit Tsaava of BasisBank and Beka Gogichaishvili of Liberty Bank – said the deal would support Georgia’s economic development.
Rukhadze, the fourth-wealthiest businessman in the country according to Forbes Georgia, had owned around a third of Liberty Bank shares. He also owned the pro-government Imedi TV channel, which he sold in February, weeks before it was sanctioned by the UK for “Russian disinformation,” in what later turned out to be for a symbolic price of GEL 1,000 (approximately USD 370).
Economist and former president of the National Bank of Georgia Roman Gotsiridze said Rukhadze “fled” Liberty Bank “due to fears of sanctions,” writing in a Facebook post, “The pensions and social assistance of more than 1.6 million of our citizens will be distributed by a bank under Chinese control,” warning that the Chinese company that owns BasisBank “will have [access to] the personal data of 42% of Georgia’s population.”
He added, “If there is anything positive to see in this deal, it is that Liberty Bank has escaped the threat of sanctions.”
BasisBank has been Georgia’s fourth-largest bank by assets. In 2012, China’s Hualing Group acquired a 90% stake in the bank, which later increased to 92%. According to the 2025 financial statements, the bank’s total assets stood at GEL 4.9 billion, with a loan portfolio of GEL 3.3 billion and deposits of GEL 3.5 billion. The net profit for 2025 was GEL 122.4 million.
Liberty Bank is Georgia’s third-largest bank, serving more than 1.7 million individual clients and more than 60,000 businesses. Its total assets amount to GEL 5.8 billion, with a loan portfolio of GEL 4.2 billion and deposits of GEL 4.17 billion. Its net profit for 2025 was GEL 128 million. According to 2025 financial documents, the bank’s owners were the founders of Hunnewell Partners: Irakli Rukhadze, Ben Marson, and Igor Alexeev, each owning 31.38% of shares.
Business Media Georgia projects that after the acquisition, the combined bank will have total assets of more than 11 billion lari, accounting for more than 10% of Georgia’s banking system, which remains dominated by Bank of Georgia and TBC Bank, the two largest commercial banks.
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Abkhazia’s Prosecutor General’s Office is continuing to press parliament to strip opposition MP Kan Kvarchia of his immunity in order to open a criminal case against him.
The Telegram channel “Abkhaz Analytical Centre” says the authorities are putting their own loyal MPs in a difficult position — one that ultimately works against the government itself.
In November 2025, Kan Kvarchia and several other opposition activists exposed the activities of Russian political consultants who were allegedly working illegally for pro-government candidates during municipal elections. However, the whistleblowers themselves later became suspects after the consultants claimed the opposition figures had attacked them.
Abkhaz law enforcement authorities opened a criminal case. They placed four suspects under house arrest and imposed travel bans on two others.
They have not been able to take action against Kan Kvarchia, as he holds parliamentary immunity. The prosecutor’s office is now seeking to strip him of that protection.
Looking at the prospects of this high-profile case, the “Abkhaz Analytical Centre” says the demand to strip Kan Kvarchia of immunity is no longer just a legal issue but a political one. It affects not only the MP himself but also his colleagues in parliament. In the centre’s view, they now find themselves caught between two pressures.
“On the one hand, there is pressure and the need to demonstrate loyalty. On the other, there is the risk of losing the support of their core electorate.
In Abkhaz political culture, there is a line that should not be crossed. People can be opponents, argue and disagree. But when there is a sense of injustice and external pressure, Abkhaz solidarity comes into play,” the authors explain.
They suggest that even those who disagree with Kvarchia on internal issues may feel compelled to support him, so as not to appear disloyal or opportunistic.
As a result, the authorities are effectively helping the opposition by creating an agenda for it.
“They are doing so in the most disadvantageous way for themselves — by irritating society, dividing their own support base and pushing their own allies into political traps,” the “Abkhaz Analytical Centre” concludes.
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Opinion on the Kan Kvarchia case