Liberty Bank is a successor to state-owned “AgroMretsvBank” which was privatised in 1994, renamed to “People’s Bank of Georgia” in 2002 and renamed to Liberty Bank in March 2010. Liberty Bank is the fourth largest bank in Georgia by total assets, with a 6.3% market share as of 31 December 2012. The bank has the largest branch network and serves approximately 1.4 mln individuals and over 56 thousand legal entities.
On 19 September 2009, Liberty Bank was acquired by Liberty Capital LLC, a wholly-owned subsidiary of Liberty Investments B.V. Liberty Investments is an investment company focused on the financial services institutions in emerging and frontier markets. Its ultimate beneficial shareholders are Dinu Patriciu and Lado Gurgenidze. It invests in frontier and emerging markets characterised by general openness of the economy as well as sound fiscal and monetary policy and good corporate governance.