TBC Bank Group Leads the Rise in Georgian Stocks on the LSE

After the correction recorded the previous week, shares of the largest Georgian companies listed on the London Stock Exchange returned to growth. From 24 to 28 August, all three major issuers ended the week in positive territory, with TBC Bank Group showing the strongest recovery.

TBC Bank Group (TBCG) was the leader of the week. The bank’s shares rose from £47.50 to £50.50, gaining 6.32%. Most of the increase came at the beginning of the week: the shares gained 2.22% on Monday, another 1.85% on Tuesday and 2.80% on Wednesday. A slight correction followed on Thursday, but a 0.70% gain on Friday allowed the shares to end the week at £50.50. During Friday’s session, the shares reached £50.95.

TBCG therefore moved closer again to its 52-week high of £52.00. An important corporate event from the previous period remains the group’s strong first-half results, published in early August. TBC did not publish any major new financial results during the past week; among its latest corporate announcements was the publication of the GEL-to-pound sterling conversion rate for the payment of its first-quarter 2026 dividend.

Lion Finance Group (BGEO) also continued its recovery following the correction of 17–21 August. The group’s shares rose from £130.90 to £134.20, or 2.52%. All five trading sessions ended higher, with the strongest move coming on Monday, when the shares gained 1.07%. On Friday, the shares reached £135.50, while the weekly high remained slightly below the previous 52-week record of £136.20.

At the same time, Lion Finance continued its share buyback programme. According to a statement published on 1 September, during the period 24–28 August the company purchased 2,000 shares on each of the five trading days, for a total of 10,000 shares, through Cavendish Capital Markets on the LSE. The average purchase prices ranged approximately from £131.83 to £134.76. Following the subsequent cancellation of these shares, the number of voting shares in the group is expected to stand at 43,060,496.

The most moderate performance was recorded by Georgia Capital (CGEO). The investment group’s shares ended the week at £44.00, compared with £43.80 the previous Friday, representing a gain of just 0.46%. Trading during the week was considerably more active: after rising to £44.40 on Monday, the shares fell to £44.15 on Tuesday and partially recovered on Wednesday and Thursday. On Friday, the shares closed at £44.00 after reaching £45.25 during the session.

For Georgia Capital, the past week was also another period of implementation of the buyback programme announced in August. Between 24 and 28 August, the company purchased a total of 85,000 shares: 15,000 on each of the first four days and 25,000 on Friday. The volume-weighted average purchase price was approximately in the range of £44.28–£44.67. The company subsequently submitted an application for the cancellation of the purchased shares.

Overall, following the simultaneous decline recorded the previous week, the market returned to growth, but with a different distribution of leadership. TBC Bank Group became the main driver of the week, gaining more than 6%, Lion Finance Group continued to trade close to its historical highs, while Georgia Capital largely maintained its previous level.

The combined market capitalisation of the three companies at the end of the week was estimated at approximately £8.7 billion. Lion Finance Group remained the largest of the three issuers, with a market capitalisation of around £5.7 billion, while Georgia Capital was valued at approximately £1.3–1.5 billion and TBC Bank Group at around £1.4 billion. Differences in market capitalisation estimates are related to the number of shares accounted for by different data providers following the ongoing buyback programmes.

Weekly performance is calculated based on closing prices on 21 and 28 August 2026. Share prices are stated in pounds sterling.