With 18 issues worth more than a billion lari distributed over 7 different sectors, 2023 was particularly successful for the Georgian securities market. The size of the corporate bond market this year amounted to GEL 1.8 billion, NBG Vice Governor Ekaterine Mikabadze noted as she addressed the audience at the joint event of Tegeta Holding and TBC Capital.

The event celebrated the placement of GEL 20,000,000 bonds by Tegeta Holding with the support of TBC Capital.

For the first time in the history of the securities market of Georgia, Tegeta Holding succeeded in placing GEL-denominated bonds for individuals.

Speaking at the event, Ekaterine Mikabadze recapped the progress of the Georgian securities market, important achievements and ongoing processes.

"Georgia’s corporate public securities market has been developing and growing progressively over the last 5 years, evidenced in this year’s important transactions. The current size of the corporate bond market is GEL 1.8 billion, twice the volume of the previous year. This year, Georgian companies did a great job issuing green, gender and sustainability bonds", the NBG Vice Governor noted in her speech.

Further, Ekaterine Mikabadze pointed out the need for increased interest and activity of retail investors for the development of the capital market. To that end, she added, greater confidence of retail investors towards long-term GEL-denominated investment products is even more promising.

"We believe this issue indicates higher investor interest in lari and we hope this trend sustains. Also, fixed instruments of the national currency will help business entities to attract more stable funding and better manage market risks. For investors, GEL-denominated fixed products will create an alternative means of saving," Mikabadze said.

The NBG Vice Governor focused on strengthening the role of alternative sources of business funding through the securities market and, among them, on the introduction of fixed long-term instruments to boost development of the capital market and the country's economy on the whole, which, according to Ekaterine Mikabadze, is something the NBG will be supporting and encouraging as part of its mandate.