In 1993 a group of friends – physicists and mathematicians, graduates from the Moscow State University- decided to establish a bank. Equipped with only one office, a few employees and 5 million GEL of fixed capital at that time, the Bank has managed to weather various changes and to solve plenty of challenges along the way:  Post-soviet period, transition to a free market economy, adaptation to new economic realities, difficult political and economic situation and much more.

Being the only bank in Georgia with a diversified Georgian shareholding and no foreign ownership or support early in, the Bank could collapsed as swiftly as the 300 banks operating in the 90s, most of which have failed due to their inability of adapting to difficult changes and lack of proper management however, it wasn’t Basisbank’s story. Backed by the sound Management, the Bank evolved through its organic growth and prepared attractive platform for the entrance of an experienced, growth-oriented strategic investor.

From the initial stage Management of the Bank had a clear and simple aim to connect its resources to the needs of the clients and to prepare a solid ground for a successful activities of the Bank in a long-term run. Thus, BB’s Management directed all their resources to accomplish a major business conception –creation of a niche Bank with a customer-focused approach based on a strong communication ties with customers.

From the beginning the Bank has strived for:

-Continuous care for the financial welfare of its customers;
-Business success of its clients;
-Creation of the best long-term partnership with promising, development oriented SMEs;
-Formation of the efficient, reputable institution in the country;
-Gaining recognition and status of a reliable regional partner among active IFIs.

Throughout the early years of operation, the Bank has steadily grown up. By the time of EBRD’s strategic alliance with BB, it was a very different institution among the other small businesses.