Strong policies and growing public trust have reinforced confidence in Georgia`s national currency - GEL - ensuring the stability of the financial sector, Prime Minister of Georgia said at the 51st International Conference of the Banking Association for Central and Eastern Europe (BACEE).

"Today, the majority of deposits in Georgia are denominated in GEL, which was not the case in 2015. This achievement is strongly supported by a robust financial sector that forms the backbone of the economy, ensuring stability and access to finance. The sector currently consists of 19 banks, including 3 digital banks and 2 microbanks. They maintain strong capital and liquidity positions, and asset quality is high, supporting sustainable economic growth", - noted Irakli Kobakhidze.

As he added, economic progress is also reflected in international capital markets, where shares of leading Georgian banks are listed; at the same time, medium-sized banks are operating effectively, offering a diverse range of financial services to customers.

"Georgian banks are steadily expanding across the region and broadening their geographic footprint.

This strengthens regional connectivity and plays an increasingly important role in promoting deeper financial integration and cooperation. Today, we see growing investor interest in Georgia`s financial sector from around the world - both in traditional banking and across a wide range of financial service providers. This is further supported by the continuous efforts of the Government and the National Bank of Georgia to promote competition, encourage innovation and further develop the financial ecosystem.

Georgia`s financial sector regulatory framework is transparent and flexible, aligned with international standards. It also fosters innovation, lowers entry barriers for new market participants and safeguards financial stability", - said Irakli Kobakhidze.