Vakhtang Butskhrikidze: Consolidated competition

May 14, 2019

As part of Euromoney's 50th anniversary coverage, we profile some of the biggest names that we interviewed for our May CEE focus.



IN ADDITION
Fifty years of CEE: Is size the solution? The profiles: 14 of the biggest names in CEE Ruslan Babaev Piotr Chudzik Jaroslaw Derylo Philippe Heim Makar Paseniuk Umut Shayakhmetova Tomas Spurny Johann Strobl Zdenek Turek Mahmut Unlu William Wells Laszlo Wolf Alexei Yakovitsky

Georgia’s banking market is an outlier in emerging Europe. Not only is it almost entirely free from foreign ownership, it is also highly concentrated. Between them, the two largest lenders – TBC Bank and Bank of Georgia – account for nearly two-thirds of sector assets.

In some markets this might be cause for concern. Vakhtang Butskhrikidze, chief executive of market leader TBC, insists that in Georgia – with a population of just 3.7 million – it is a natural function of the size of the market.

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