The United States, Great Britain, EU and other countries have imposed sanctions on Russian financial system due to Russia’s aggressive military activities in Ukraine. The National Bank of Georgia instructed the representatives of the Georgian financial sector to comply with the requirements of these sanctions.

 

One of the main tasks of the National Bank of Georgia is to ensure the stability of financial sector. Protecting the interests of financial sector depositors is one of the main priorities under this mandate. As of today, JSC Basisbank will serve the individual (physical person) borrowers and depositors of JSC VTB Bank Georgia. The transition process has already started and Basisbank will serve the individual depositors and borrowers of VTB Bank Georgia in VTB Bank branches gradually starting from Monday. The interests of all depositors will be protected and the liabilities will be fully satisfied.

 

Let us emphasize once again, that the National Bank of Georgia always acts in full compliance with the standards set by the international resolutions and fulfils one of its primary tasks, to guarantee the safety of each depositor’s funds in the Georgian financial system.