Liberty Bank is a successor to state-owned “AgroMretsvBank” which was privatised in 1994, renamed to “People’s Bank of Georgia” in 2002.
In September 2009 91.2% of its shares were acquired by Liberty Investments Holding B.V., a newly established joint venture of Georgia's former Prime Minister, Lado Gurgenidze, and Romanian tycoon Dinu Patriciu and the bank was renamed Liberty Bank.
In 2017, Liberty Bank announced a change of control, whereby European Financial Group B.V. , a company established and organised under the laws of the Kingdom of Netherlands, purchased 74.64% of equity interest in the Bank. The ultimate beneficial owners of the Bank are Irakli Rukhadze (US Citizen), Ben Marson (UK citizen) and Igor Alexeev (US Citizen).