TBC Bank and Liberty Bank, which are among Georgias top four largest lenders by assets, have denied that they have been bought by Russian banks.

Speaking at a news conference late on February 26, President Saakashvili said that Liberty Bank was bought by Russian state-controlled Sberbank and Russia's largest privately-owned lender Alfa Bank was buying TBC Bank.

Several days ago an agreement has actually been finalized and Liberty Bank has been bought by Russian state-owned Sberbank, Saakashvili said.

Now Alfa Bank, which has close links with the Kremlin, is buying TBC Bank. Cartu Bank [which was founded by PM Bidzina Ivanishvili] is in itself the Russian bank. Gazprombank is also entering [into Georgia], which wants to buy several Georgian banks, Saakashvili said and added that he had never been against of Russian businesses, but if they seize all the assets in Georgia without then doing anything it would lead to putting Georgian economy in bondage.

Thats not something made-up by me; its happening right now as we speak, the President said.

Saakashvilis press conference was still ongoing when Liberty Banks CEO Lado Gurgenidze, who was the Prime Minister in 2007-2008, released a statement denying that his bank was sold.

Dear friends, just wanted to state that the rumour that Liberty Bank is in discussions with Sberbank, as it was stated tonight on one of the Georgian TV channels, has no basis and no such discussions have [taken] or are taking place, Gurgenidze wrote in an English-language statement posted on Liberty Banks Facebook page.

Together with Romanian tycoon Dinu Patriciu, Gurgenidze is a beneficial shareholder of the Liberty Bank, which is the fourth largest bank in Georgia by total assets.

When asked before the end of the press conference about Liberty Banks refutation, Saakashvili responded: Ill be only glad if its not true and I hope that will not be the case in the future too.

Saakashvili said that he had this information about sale of the Liberty Bank from the National Bank of Georgia. He also added: I know for sure that there are talks ongoing [to sell] TBC Bank.

Continued here:

TBC Bank, Liberty Bank Deny Stake Sale to Russian Banks