HSBC’s presence in Georgia was part of its strategy to expand into emerging markets and provide comprehensive banking services to corporate clients.

[2][3] In September 2011, following a strategic review, HSBC announced its decision to exit the Georgian market, citing limited size and scale as the primary reasons for withdrawal.

Guy Lewis, Chief Executive of HSBC Bank Georgia, stated that despite considerable efforts, the bank felt it was the right time to withdraw from the market.

[4] In December 2011, HSBC Bank Georgia entered into an agreement to sell its legacy personal and mortgage loan portfolio to Bank Republic JSC, a subsidiary of the Société Générale Group.

The value of the gross assets sold was approximately USD 4.5 million as of November 23, 2011.