Georgia’s Five Largest Banks to Overhaul Treasury Systems in Nasdaq Partnership | LeapRate
Nasdaq has announced a landmark agreement with the National Bank of Georgia (NBG) to modernize treasury and financial markets infrastructure across the country’s banking sector. Five of Georgia’s largest commercial banks, Bank of Georgia, TBC Bank, Liberty Bank, Terabank and Basisbank, will adopt the Nasdaq Calypso platform under a shared infrastructure model covering the full trade lifecycle.
The initiative falls under the Georgian Market Advancement Program (GMAP) and was coordinated with the Georgian Financial Markets Treasuries’ Association (GFMTA). It marks a significant step in the development of Georgia’s capital markets.
NBG Governor Natia Turnava said modernizing treasury infrastructure is a strategic priority, noting that bringing the five largest banks onto a common platform raises standards for risk management, regulatory oversight and operational resilience.
Georgia’s banking sector has posted double digit growth over the past five years, with total assets nearing USD 38 billion. That expansion has driven demand for more advanced treasury systems capable of handling complex securities and derivatives markets alongside stricter regulatory requirements.
Under the shared model, Calypso will be installed at a centralized location, with each bank operating as a separate, data segregated entity within the same instance. This allows individual configuration while enabling standardized reporting, shared market data and collective oversight.
Magnus Haglind, Nasdaq’s Head of Capital Markets Technology, said the shared infrastructure approach lets banks evolve without bearing the full cost or complexity alone.
Lasha Jugeli of GFMTA said the program reflects years of coordination across the sector, with project management funded by Japan through the Japan-EBRD Cooperation Fund.
The five banks collectively represent the majority of Georgia’s banking assets.
