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EARLY YEARS (1993-2008)

In 1993 a group of friends – physicists and mathematicians, graduates from the Moscow State University- decided to establish a bank. Equipped with only one office, a few employees and 5 million GEL of fixed capital at that time, the Bank has managed to weather various changes and to solve plenty of challenges along the way:  Post-soviet period, transition to a free market economy, adaptation to new economic realities, difficult political and economic situation and much more.

Being the only bank in Georgia with a diversified Georgian shareholding and no foreign ownership or support early in, the Bank could collapsed as swiftly as the 300 banks operating in the 90s, most of which have failed due to their inability of adapting to difficult changes and lack of proper management however, it wasn’t Basisbank’s story. Backed by the sound Management, the Bank evolved through its organic growth and prepared attractive platform for the entrance of an experienced, growth-oriented strategic investor.

From the initial stage Management of the Bank had a clear and simple aim to connect its resources to the needs of the clients and to prepare a solid ground for a successful activities of the Bank in a long-term run. Thus, BB’s Management directed all their resources to accomplish a major business conception –creation of a niche Bank with a customer-focused approach based on a strong communication ties with customers.

From the beginning the Bank has strived for:

·         Continuous care for the financial welfare of its customers;

·         Business success of its clients;

·         Creation of the best long-term partnership with promising, development oriented SMEs;

·         Formation of the efficient, reputable institution in the country;

·         Gaining recognition and status of a reliable regional partner among active IFIs.

Throughout the early years of operation, the Bank has steadily grown up. By the time of EBRD’s strategic alliance with BB, it was a very different institution among the other small businesses.




Prior to the strategic alliance with EBRD, BB put forth hard work to upgrade its operation to adapt it to the best international practices. By the time when EBRD became BB’s shareholder, the Bank has already had functional organization structure, efficient corporate governance structure adjusted to the size of the Bank and reporting system. During the years of BB-EBRD strategic partnership the Bank has undergone fundamental changes. The Management of the Bank was completely reorganized; new significant structures were introduced and established; with EBRD’s entrance has been changed the format of communications between Supervisory Board and Management Board  encompassing regular meetings and interactions, the strategic development plan was re-formulated according to the mutual interests of the new and existing owners.

A new and enhanced corporate governance system has been jointly developed by the Bank’s local personnel and European consultants. For two years EBRD sponsored Institution Building Plan which was carried out with the assistance of international consulting company DAI (Development Alternative, Inc (DAI Europe). UNDER IBP program extensive consulting services were provided by the European professionals to transform the Bank’s organization structure to meet the Best international practices.

The enormous work that has been done by the Bank’s Management and dedicated staff brought Basisbank recognition as an efficient, reliable bank with strong position among its competitors and built a reputation that endures the present day. The aforementioned four year work has led to the upgrading of BB’s international ratings: International credit rating agency ‘Fitch Ratings’ increased its ratings to Basisbank from long-term CCC to B- and from short-term C to B with a stable outlook in 2010 and reaffirmed it in 2011.

The bank has grown far beyond its primary vision of a locally owned and managed institution that meet local needs. It won the confidence and loyalty of its staff, clients, partners, shareholders and assured that this once-small local bank became a significant player and a trustworthy partner on the market.





While EBRD-BB strategic alliance was a period of Basisbank’s significant organizational transformations and developments, it has prepared the groundwork for the Bank’s robust organic growth strategy.

On the background of already developed, a strong financial institution, the Bank decided it was a right time  to strenghten its position and started looking for an opportunity to increase its capital and capture market share in the country. Basisbank was already prepared for a more dynamic growth, however further solid capital infusion was required and the Bank turned its attention on looking out for potential strategic investors as a possible leverage to realize the Bank’s robust growth strategy.

In 2012, BasisBank found such an investor who would be interested in the company’s further rapid development and who would inject additional capital in the Bank’s business acceleration. China’s Xinjiang Hualing Industry & Trade (Group) Co., Ltd (the "Hualing Group") – a huge Chinese company has acquired 90% equity stake in BasisBank. By that period Basisbank already had:

•             Efficient organizational structure based on the best Corporate Governance Principles;

•             Rapid, efficient and responsive services;

•             Full package of banking services for Retail, Corporate and SME segments;

•             Competent and equipped staff to handle local and global business challenges for the clients;

•             Well-developed network of branches.

Along with with the new owner and solid capital infusion the Bank started to rigorously execute its renewed 5 year strategy that encompassed ambitious growth.

By the end of 2014 changes were made to the shareholder’s structure of the Bank. Hualing Group retained its majority 92.78% interest in the Bank. EBRD and Z. Tsikhistavi, as part of the Subscription Agreement have sold remaining shares of the Bank being in their ownership. Mr. Mi Zaiqi, Member of Supervisory Board acquired 7% of the Bank’s shares, while current Management Board of JSC “BasisBank” has collectively invested and acquired 0.22% shares in the Bank.

(c) 2011 Basisbank, all right reserved