Bank of Georgia has an unusual business model. The largest bank in Georgia by assets, Tier 1 capital and market share also owns 36 healthcare centres and 1907 hospital beds.
Bank of Georgia initially acquired its insurance and healthcare business Aldagi through the liquidation of real estate collateral. It is now one of the country’s largest providers of life and non-life insurance with a 30% market share as of December 2013, according to Georgia’s insurance supervisory agency. In 2013, the business reported profits of La25m ($14m) of Bank of Georgia’s total of La209m of full-year profits.