"Georgia’s banking system is one of the most stable in Europe and there is nothing critical that can threaten the country’s financial sector," - Natia Turnava, the Acting Governor of the National Bank of Georgia, stated while evaluating the recent price changes of Georgian banks’ shares on the London Stock Exchange.

Turnava noted the agitation on the price changes was largely artificial and there is no real economic reason behind it and as she explained, the price of bank shares on the London Stock Exchange was characterized by volatility.

Turnava pointed out that short-term price fluctuations would not have an impact on the solvency of Georgia’s banking system and its resilience to shocks, also stressing that Georgian banks had liquid assets of GEL16.7 billion (about $6 bln) and could deal with any serious crisis.