As it is already known to the public, in response to the  Russia's aggressive warfare in Ukraine, the United States, Great Britain, the European Union and other countries have imposed financial sanctions on the Russian financial system. The National Bank of Georgia has also instructed the representatives of the Georgian financial sector to fulfill their obligations under aforementioned  sanctions.

These sanctions were also applied to VTB Bank Georgia JSC operating in Georgia. Under these circumstances, the protection of the rights of the VTB bank's customers was the primary task. To that end an agreement was reached between VTB Bank Georgia JSC and Basisbank JSC on the transfer of deposits and loans of individuals at VTB Bank Georgia JSC  to Basisbank JSC. Consultations continued among the representatives of the financial sector to ensure the maximum protection of the depositors’ interests. As a result, an agreement was reached between VTB Bank Georgia JSC and Liberty Bank JSC on the transfer of a certain portion of the deposits and loans of legal entities at VTB Bank Georgia JSC to Liberty Bank JSC. The clients of VTB Bank Georgia JSC are provided with detailed information on an individual basis.

The aforementioned agreement between VTB Bank Georgia JSC and Liberty Bank JSC implies the transfer of small and medium business deposits and loans from VTB Bank Georgia JSC to Liberty Bank JSC.  The process of transferring the clients is in progress and starting from March 3, the small and medium business depositors and borrowers of VTB Bank Georgia JSC will be served by Liberty Bank JSC in its own branches.  Clients of VTB Bank Georgia JSC will be notified accordingly. The clients will also be able to get the detailed information at VTB Bank Georgia JSC call center and from individual bankers. 

We declare again that the actions of the National Bank of Georgia are always in full compliance with the standards set by international resolutions and under these resolutions the NBG remains fully committed to pursuing one of its primary obligations - to be a guarantor of the protection of the funds of each depositor in the Georgian financial sector.