The Capital Market Overview is a semi-annual publication of the National Bank of Georgia prepared by the Capital Market Supervision Department.

It provides a broad picture of Georgia’s capital market, covering the local treasury and public corporate bond markets - including their structure, latest developments, investor base, holding structure and secondary market activity - and delves into current challenges that may hinder further market development.

The report also reviews a broad spectrum of financial institutions - including commercial banks, investment funds and the Pension Fund of Georgia - and their role in supporting capital market development, deepening market liquidity, broadening the investor base and promoting the diversification of instruments. The report’s aim is to provide market participants (including issuers, intermediaries, investors, and other stakeholders), researchers and the wider public with a data-driven assessment of key trends, structural features, growth potential and challenges of the Georgian capital market.