Banking and finance in Georgia

BGI Legal

The banking and finance team at BGI Legal assists large domestic banks, international financial institutions and investment funds with a range of high-value transactions including the issuance of bonds, the financing of large-scale infrastructure projects and regulatory capital deals. Founding partner Lasha Gogiberidze heads the team alongside Unana Gogokhia; both are highly experienced in project finance and capital markets. Sandro Bibilashvili  is also recommended for his work with IFIs on various energy projects.

Key clients

Korea Water Resources Corporation







China Development Bank


Green for Growth Fund

Global Climate Partnership Fund, ResponsAbility Investments AG

BP Georgia

MND Group NV

Marriot International

Vialis Belgium NV


Ferrero International

Flutters Entertainment plc (formerly, Paddy Power Betfair plc)

IQ option


Western Union


AC Maritime Lending

ACT Maritime LLC

Liberty Bank


TBC Bank



Work highlights

  • Advised on the issuance and placement of $500m 2.750% notes due 2026 on the London Stock Exchange by the state of Georgia.
  • Advised Citigroup Global Markets Europe AG, Goldman Sachs Bank Europe SE and J.P. Morgan SE on the issuance of up to U.S. $435m 8.5% notes.
  • Acted as Georgian counsel in connection with the issuance and listing of $300m 8.375 % notes by JSC Silknet on Euronext Dublin.

BLC Law Office

Acting for clients including international and domestic financial institutions, multinational corporations and investment banks, the sizeable team at BLC Law Office assists with a range of matters including complex capital market transactions, loan and equity financings and the issuance of local and international bonds. A strong focus on the asset management sector has also seen the practice handle a large percentage of investment fund registrations with the National Bank of Georgia. Alexander Bolkvadze, Ketti Kvartskhava, Giorgi Batlidze, Tamta Ivanishvili and Rusa Tchkuaseli head the team with Ivanishvili described as ‘the best capital markets lawyer in Georgia’.

Practice head(s):

Alexander Bolkvadze; Ketti Kvartskhava; Giorgi Batlidze; Tamta Ivanishvili; Rusa Tchkuaseli


‘BLC is one of the very few law firms in Georgia specialising in capital markets and has helped to develop the sector in Georgia.’

‘Tamta Ivanishvili is, in my opinion, the best capital markets lawyer in Georgia.’

Key clients

Georgia Capital

International Finance Corporation

Asia Development Bank


Pace Terminals



Gazelle Finance

Small Enterprise Assistance Fund

JP Morgan


TBC Capital

Small Enterprise Assistance Fund

Alpha Capital

Work highlights

  • Advised TBC group on the formation of its asset management company and the first securitization fund in Georgia – Diversified Credit Portfolio JSC.
  • Advised Georgian Renewable Power Operations JSC on the $80m issuance of the first green-secured bonds on the Georgian market.
  • Acted as local counsel for the Asian Development Bank on financing of the Affordable Housing Project – building houses for thousands of citizens of Georgia.


The team at Dentons has significant expertise of derivative and repurchase lending transactions, advising blue chip financial services companies on their use under Georgian law.  The practice’s links with banking regulations allows it to handle complex transactions such as the recent $50m AT1 loan from the EBRD and Swedfund to the Bank of Georgia. The team is also well versed in capital market transactions and regularly advises on international and local bond issuances. Joint team heads Avto Svanidze and Otar Kipshidze offer expertise on a wide range of banking and finance matters. Clients include commercial banks, insurance companies and private equity funds.

Practice head(s):

Avto Svanidze; Otar Kipshidze

Other key lawyers:

Irakli Pipia; Sopho Mebonia; Neli Tsivtsivadze

Key clients


Deutsche Bank



Goldman Sachs

ING Bank

ResponsAbility Investments


Societe Generale

TBC Bank

Work highlights

  • Advising Silknet on its debut Rule 144A/Reg S bond issuance of $300 mil.
  • Advising EBRD and Swedfund on an Additional Tier 1 (AT1) capital loan ($50 mil) to the Bank of Georgia.
  • Advising AFD on providing legal consulting on an uncommitted credit facility of €100 mil to the government of Georgia.

Gvinadze & Partners LLC

The varied offering at Gvinadze and Partners includes representing international firms in tax and banking matters, supporting clients in Georgian-bank related KYC and AML mandates and assisting IFIs the EBRD and the ABD in major loans and financings. The team also frequently acts as local counsel for international law firms. Nick Gvinadze leads the practice and is supported by Sophie Panjikidze .

Practice head(s):

Nick Gvinadze

Other key lawyers:

Sophie Panjikidze

Key clients

European Bank for Reconstruction and Development (EBRD)

Asian Development Bank (ADB)

Viber Media SARL

Score Capital AG

Klarna Bank AB


G-Core Labs S.A.


Global Benefits Group

China Development Bank (CDB)

Dreymoor Fertilizers Overseas Pte. Ltd.

Commerzbank AG

Raiffeisen Bank

Paysend Group


Reed Smith / The World Bank

BLB (Business Legal Bureau)

Acting primarily for international finance institutions on the lender’s side, BLB (Business Legal Bureau) has carved out a strong niche that has seen prestigious clients such as the European Bank for Reconstruction and Development (EBRD) and the International Development Finance Corporation (DFC) repeatedly entrust the practice with mandates. The practice is led by experienced lawyer Kakha Sharabidze who is supported by Ana Rekhviashvili.

Practice head(s):

Kakha Sharabidze

Other key lawyers:

Ana Rekhviashvili

Key clients

Overseas Private Investment Corporation (OPIC) now transformed as International Development Finance Corporation (DFC)

European Bank for Reconstruction and Development

World Bank – Angel Investors Project

Work highlights

  • Advised EBRD on the issuance of its €6m loan to TBC Leasing, to broaden access to finance for Georgian micro, small and medium-sized enterprises.
  • Represented and advised EBRD regarding the €10m financing of the state-owned air navigation entity of Georgia – SakaeroNavigatsia.
  • Advised OPIC, (now U.S. International Development Finance Corporation) on its transition process requiring the transfer of loans/collateral for pending projects since 1996.

Nodia, Urumashvili & Partners

The ‘highly qualified’ team at Nodia, Urumashvili & Partners advises banks and microfinance organisations on issues such as obtaining banking licenses, establishing subsidiaries or investment funds and tax due diligence. Founding partner Lasha Nodia, who is experienced in a wide range of banking and finance transactions, leads the team alongside fellow founding partner and tax expert Eprem Urumashvili.

Practice head(s):

Lasha Nodia; Eprem Urumashvili


‘Highly qualified team.’

Key clients

JSC Ziraat Bank Turkey

JSC Tera Bank

JSC Bank of Georgia

JSC Procredit Bank

JSC Bank of Georgia

JSC basis Bank

responsAbility Investments AG

JSC Pasha Bank

JSC Crystal

Work highlights

  • Advising responsAbility Investments AG on various matters in relation to execution and enforcement of several promissory notes.
  • Representing a major creditor in relation to acquisition of the loan and participation at insolvency proceedings and related disputes.


The ‘innovative thinking’ at EY LLC allows the team to assist with matters such as the drafting and negotiation of multi-jurisdictional banking technology contracts, the establishment of business entities designed for the acquisition of shares in commercial banks, and the establishment of complex investment funds. Practice head Tato Chantladze has substantial experience in the banking sector, having worked as general counsel for two major Georgian banks.

Practice head(s):

Tato Chantladze

Other key lawyers:

Mako Maisuradze


‘I would underline the remarkable competence and leadership of the team members. Their innovative thinking and tight collaboration are key to their success.’

‘I would highlight their devotion and reliability, irrespective of vacations, public holidays or days off. They put the customer’s needs first.’