TBC Empowering the Next Generation: Meet Mariam Sturua

Education is a key strategic priority for TBC, and the company continues to actively support the younger generation on this path. As a partner of the educational foundation Visionary, TBC fully funds the tuition fees of several students — one of them being Mariam Sturua, a medical student.

The new generation is a fundamental, unstoppable force behind a country’s development. High-quality education often serves as a decisive competitive advantage, playing an essential role in Mariam’s story as well. For her, education is not only a path to career success but also a way to discover herself in new and unexpected situations. Through education, she unlocked opportunities that opened many doors in her life.

“Since childhood, I’ve always tried to participate in various educational activities. Even if you’re studying one field at university, informal education is just as important for the future. Especially if you want to study abroad or take part in exchange programs — they place a lot of value on what you’ve done outside the university, the projects you’ve been involved in, and so on.”

Motivated by this mindset — to discover her skills and later apply them in a real-world competitive environment — Mariam joined Visionary’s HR mentoring program, which, as she notes, had a deeply transformative effect on her.

“Believing in yourself is a crucial factor in achieving any dream. When you have a big goal, failure may sometimes come along the way, but it shouldn’t kill your motivation or make you doubt yourself. That’s when self-belief helps you move forward and keep writing your own story.”

When you’re building your story through education, you may not yet have the experience, motivation, or readiness required to reach your biggest goals — but it is in this very uncertainty, in the moments when nothing seems certain, that you must believe the impossible is, in fact, within reach.

Believe in your goals — and everything becomes possible.

TBC Concept and Visa Support the 17th Tbilisi International Theatre Festival

The Tbilisi International Theatre Festival is one of the key cultural events of the city’s autumn season. Now in its 17th year, the festival offers two main programs: an international lineup and a selection of Georgian performances.

This year, with the support of TBC Concept and Visa, the festival will open on September 16 with the Georgian theatre program.

The international program begins on September 21 and will showcase prominent names in contemporary theatre and dance from Israel, the United Kingdom, Greece, Latvia, and the United States. Highlights include:

• Itay Tiran’s Richard III (Gesher Theatre, Israel)
• Ivan Blackstock’s Traplord (UK)
• Dimitris Kananaris’ The House (Onassis Stegi, Greece)
• Alvis Hermanis’ The White Helicopter (New Riga Theatre, Latvia)

For the full schedule and detailed information, visit the official website.

Performances will be held on the stages of Theatre 42, Griboedov Theatre, and Marjanishvili Theatre. In addition to performances, the festival includes masterclasses and workshops that will continue through December.

Festivalgoers can purchase both individual tickets and subscription packages. Visit the ticketing link to make a purchase—TBC Concept Visa cardholders enjoy a 20% discount.

TBC Supports Georgia’s First National AI Team at the International Olympiad in Beijing

With the support of TBC and the organization of the Georgian Association for Artificial Intelligence Home | GAIA, Georgia held its first-ever National Olympiad in Artificial Intelligence. The winning students from this Olympiad have now formed the national team that will represent Georgia for the first time at the 2025 International Olympiad in Artificial Intelligence (IOAI).

The IOAI is a global educational competition that launched in 2024 and already brings together high school students interested in artificial intelligence and data science from over 70 countries. Since its inception, IOAI has become one of the most prestigious contests within the global system of student Olympiads. While the 2024 edition was held in Bulgaria, the 2025 Olympiad will take place in Beijing from August 2 to 9.

Following their success in the national round, the Georgian team is now undergoing intensive training. Their coaches include top AI professionals from TBC and other leading tech experts in Georgia. The students are also meeting with Georgians working in global tech giants such as Google DeepMind and OpenAI. Preparations will continue through the end of July, and on August 1st, the team will depart for Beijing alongside their mentors.

In Beijing, the students will join fellow AI enthusiasts from around the world and compete for top honors under Georgia’s flag. Beyond the competition, this journey offers a unique opportunity for participants to visit leading AI companies, gain hands-on experience, network with innovators, participate in cultural exchange, collaborate on new ideas, and explore future possibilities.

Organized by: Georgian Association for Artificial Intelligence (GAIA)
Supported by: TBC and the Georgian Innovation and Technology Agency

The National Olympiad in Artificial Intelligence marks an important milestone in fostering a culture of knowledge-sharing, supporting professional development, and establishing Georgia’s place in the global tech ecosystem.

TBC continues to make education more accessible by supporting youth who believe in shaping their own future through learning. The bank offers a variety of educational technology programs tailored to the next generation of innovators.

GeGelato: The Sweet Journey of an Italian Ice Cream Brand Powered by TBC Business

GeGelato is an Italian-style ice cream brand that has grown with the support of TBC Business.

Gelato is often associated with happiness and the enjoyment of life. No matter our mood, a taste of Italian gelato can make everything feel just right. This very idea lies at the heart of GeGelato’s concept — “GeGelato: Your Sweet Adventure.”

The brand’s own adventure began in 2019, when the company was officially registered. The first shop opened in 2020, in the middle of the pandemic, on Paliashvili Street. Despite the challenges of the time, GeGelato managed to grow and now operates several branches across Georgia.

All GeGelato ice cream is made using authentic Italian technology, equipment, and ingredients sourced directly from Italy. The company also collaborates with Italian chefs. The menu consistently features 25–30 unique flavors, though the full catalog includes up to 60 varieties. Nearly all of GeGelato’s offerings are gluten-free — both dairy and vegan options.

“When a customer tastes our gelato and I see a spark of joy in their eyes, I know my vision is being fulfilled,” says Mariam Uchaneishvili, the founder of GeGelato.

“For years, my husband and I have been attending international food and beverage expos across Europe. Over time, we met many inspiring people whose connections encouraged us to try our luck in the gastronomy world.”

In addition to gelato, the brand offers a variety of unique desserts, including Belgian waffles, Italian-style bubble tea, and both hot and cold beverages.

Reaching this point wasn’t without challenges. As the global economy suffered due to pandemic-related restrictions, GeGelato was taking its first steps. Finding a reliable partner and maintaining stability during such uncertain times was no easy task. Nevertheless, Mariam and her team succeeded in building a brand that continues to be seen as a trustworthy partner by financial institutions.

“TBC played a major role in GeGelato’s growth. They support every new idea and provide services that are both comfortable and essential for fast, continuous progress,” says Mariam Uchaneishvili.

Looking ahead, GeGelato plans not only to expand its locations but also to scale up its production. On this new path, TBC remains a key partner the company can rely on.

TBC and VELI.store Join Forces for Exclusive Summer Shopping Deals

TBC customers are constantly treated to a variety of exclusive offers on VELI.store. The online platform allows users to shop under special conditions, especially during the summer season.

Until August 17, holders of the New TBC Card, New TBC Concept Card, and Loyalty Credit Card will receive 10% cashback on all purchases—regardless of the amount.

The maximum cashback per transaction is 100 GEL for New TBC Card holders and 150 GEL for New TBC Concept Card holders.

The partnership between the two companies doesn’t stop here—more exciting summer offers are coming soon. Stay tuned!

Shukura Summer Series Returns with TBC Concept and Visa

This July and August, with the support of TBC Concept and Visa, Shukura will host a vibrant summer series of music evenings and culinary masterclasses.

If you’re planning a getaway in Adjara, don’t miss the magical Shukura nights in Tsikhisdziri.

Music Evenings:

• August 2 | ZURKIN & SANDRO JORBENADZE (VODKAST RECORDS)
• August 16 | BOYA (MOREVI) & LUKA BARAMISHVILI
• August 30 | MEMOTECH & NIKO

Culinary Masterclasses on the Pool Terrace:

Held alongside the music events, the series will feature renowned Adjara Group brand chefs, offering hands-on cooking experiences.

• August 9 | Io Kurdghelashvili, Head Chef at Lolita
  Dish: Fresh Pasta with Seafood
• August 23 | Levan Karseladze, Head Chef at Stamba
  Dish: Asian Flavors & Rice Paper Rolls
• September 6 | Giorgi Tataraishvili, Head Chef at Shukura
  Dish: Taco Making & Summer Salsas

All masterclasses include natural wine pairings and end with dessert preparation alongside the chefs.

Exclusive TBC Concept Benefits:

TBC Concept and Visa are proud supporters of the Shukura Summer Series.
TBC Concept Visa cardholders will enjoy:

• 15% cashback on-site when attending events
• 15% discount when booking culinary masterclasses

Join us for a season of taste, music, and unforgettable experiences by the Black Sea.

• TBC TechSchool: An Educational Platform for Students
• Photo: Tech

TBC TechSchool, the country’s leading online education platform focused on technology, has successfully completed its Spring semester courses with 365 students. To date, the platform has welcomed over 3,200 participants.

TechSchool is TBC’s educational initiative, offering free access to all high school students from grades 9 to 12 who are interested in technology. The program provides an opportunity to deepen theoretical understanding and gain practical knowledge across various fields of technology.

At TechSchool, students learn alongside top industry professionals and gain insights into the modern technological ecosystem—experiencing a learning process that is completely different from traditional school education.

Enrollment for the next cohort will reopen in September.

All you need is to believe in your goals. TBC’s educational platform empowers you to learn from wherever you are and to continuously explore new ideas and expand your knowledge.

TBC’s Crash Courses for Girls: An Educational Platform for Students

For schoolgirls interested in the field of technology and who believe that education can shape their future, TBC has created a special summer program—Crash Courses—designed just for them. Through this initiative, participants received completely free training in tech and took their first steps toward future professions.

The curriculum included introductory courses in Artificial Intelligence, Mobile App Development, Web Programming (Back-End with Python & Flask, and Front-End with HTML & CSS). A total of 140 girls from 9th to 12th grade across Georgia participated in the online program, gaining foundational knowledge in some of the most in-demand tech fields—entirely for free.

TBC is committed to making education as accessible as possible for young people. The skills and knowledge acquired through the Crash Courses help participants choose their future career paths. And for those who wish to go further, TBC Tech School offers a chance to continue their tech education starting this fall.

Everything is possible—as long as you believe in your goals.
TBC’s educational programs empower young people to learn wherever they are, stay curious, and continuously deepen their knowledge and interests in the world of innovation.

TBC Capital Releases Monthly Macro Update: Currency Inflows Strengthen, Structural Trends Emerge

Georgia: Debtors and Creditors

TBC Capital has published its latest Monthly Macroeconomic Review, highlighting key economic trends in Georgia.

Currency Inflows Improve in June

TBC Capital’s monthly assessment of net foreign exchange inflows—which includes trade in goods, tourism revenues, and remittances—showed continued improvement in June. This was driven both by stronger inflows and weaker outflows.

External trade maintained its recent trajectory: exports remained robust, largely due to the re-export of vehicles, while import growth remained subdued, partly due to a decline in car imports. Remittances increased by 12.2% year-on-year in June, continuing their positive momentum.

Tourism revenues grew by 5% annually in Q2, slightly exceeding Q1’s 2.3% growth despite temporary negative effects from conflict in the Middle East. The EU remained the largest source of foreign currency inflows, contributing 20.3% in Q2 (down slightly from 21.7% in Q1).

Support for the Lari

As previously emphasized, strong net foreign currency inflows are one of the three main supporting factors for the Georgian lari. Among the remaining two, the U.S. dollar has somewhat strengthened following a preliminary U.S.-EU trade agreement, and conversion of deposits into lari in July showed mixed dynamics.

Despite this, upward pressure on the lari remains strong, as reflected in continued foreign exchange interventions by the National Bank of Georgia (NBG). TBC Capital estimates that the volume of U.S. dollars purchased by the NBG in July was higher than in previous months. Even so, TBC Capital’s short- and long-term equilibrium models suggest that the lari remains slightly undervalued.

Inflation and Policy Response

Inflation accelerated to 4.0% year-on-year in June, slightly higher than in the previous month but broadly in line with expectations. Food remained the main driver of inflation, although service sector inflation was also elevated.

The temporary effect of lower internet service prices, which had been reducing inflation by about 0.4 percentage points, is expected to expire in July and August. Should inflationary pressure intensify, which TBC Capital does not currently see as the base scenario, the existing excess of foreign currency is likely to result in further lari appreciation.

Against this backdrop, with a choice between a rate cut and maintaining the status quo, the NBG kept the refinancing rate at 8% during its July 30 meeting, citing balanced risks as the rationale.

Mixed Signals from Recent Indicators

Latest data presents a mixed picture. Total cashless spending plateaued in June and July, slowing annual growth after three consecutive months of increases. Migrant spending followed a similar pattern, while non-resident spending—used to assess real-time tourism income—improved in July.

According to preliminary data from Geostat, economic growth reached 6.3% in June, with average Q2 growth at 7.1%.

Structural Shifts in the External Balance

Despite improvements in Georgia’s external balance since 2022, the current account remains in deficit. Notably, portfolio investment trends show increased purchases of foreign debt securities by Georgian residents—a departure from historical patterns. At the same time, some buybacks of Georgian-issued foreign debt securities have also taken place.

A closer look at Georgia’s balance of payments reveals significant developments in both the current and financial accounts:

• Current Account:
  • Tourism revenues are growing moderately, while ICT and business services exports are rising rapidly, shifting the structure of service exports.
  • The current account deficit, excluding reinvested earnings, remains well below the historical average.
  • The external balance worsened significantly in Q1, but Q2 indicators show improvement.
• Financial Account:
  • Georgian residents have increasingly invested in foreign assets since 2022.
  • FDI, excluding reinvested earnings, remains low.
  • Loans have played a significant role in financing the current account deficit, across both public and private sectors.
  • Foreign exchange reserves were also used, but with the NBG actively purchasing U.S. dollars in Q2, this trend is expected to reverse.

Read the full publication here.

TBC’s Fintech Subsidiary Flitt Becomes First in Georgia to Receive Visa’s Full PayFac Certification

Flitt, a fintech company and proud member of the TBC Group, has become the first in Georgia to receive Visa’s full Payment Facilitator (PayFac) certification.

Visa grants this certification only to companies that meet its stringent technical, legal, and financial standards. To qualify, a company’s payment platform must adhere to PCI DSS security standards, demonstrate effective risk management, and ensure the protection of customer data.

With this certification, Flitt is officially recognized as an independent payment operator within Visa’s global network — no longer just an intermediary. This means the company can now manage the entire payment process autonomously, without external restrictions. Flitt can also serve a broader range of businesses and offer existing merchants a faster, simpler, and more technologically advanced way to accept payments. Merchant onboarding is entirely online and takes only a few minutes, allowing businesses to start accepting payments immediately after registration.

As part of the certification process, Flitt underwent a rigorous multi-dimensional assessment. This included verifying compliance with technical security standards, such as PCI DSS; evaluating the company’s internal risk management framework and procedures; assessing the effectiveness of its Anti-Money Laundering (AML) policies and their alignment with international standards; and analyzing merchant onboarding and transaction monitoring practices. Successfully completing this process confirms that Flitt’s operations meet both Visa’s high standards and global best practices.

With full PayFac certification, Flitt is now empowered to:

• Independently register merchants and manage the full payment lifecycle;
• Serve high-risk merchants by applying its internal risk management systems to support effective risk control;
• Deliver innovative, competitive, and secure payment services.

“This is a major milestone for our company. Even though Flitt is a new player, we are the first in Georgia to receive this certification — a clear indication that our financial services are not only simple and innovative but also secure and trustworthy,” said Giorgi Kutateladze, CEO of Flitt.

By obtaining full PayFac certification from Visa, Flitt takes a significant step forward in its mission to simplify everyday payments across Georgia through financial technology. Despite rapid growth, the company remains committed to expanding accessibility while maintaining the highest standards of safety and reliability — key criteria for any payment service provider.