The Group’s principal business activity is commercial and retail banking operations,including deposits, loans and guarantees, cash settlement services, securities business and foreign currency exchange business since 1993. It is well-known for services provided to SMEs and retail customers. In 2011, among the 19 banks in Georgia, Basis Bank ranked 12th in asset size.
With the development of international trade, cross-border settlement has become an urgent problem for many Chinese companies to go out. In June 2012, in order to protect the capital security of Chinese-funded enterprises and promote bilateral RMB cross-border settlement, Hualing Group invested 98 million US dollars to acquire 90% of the shares of Basis Bank, thus becoming the largest shareholder. In September, 2012, Hualing Group acquired 90% shares of BasisBank in Georgia.
This acquisition was named as one of the ten China’s best overseas investments at the second China Overseas Investment Summit (2012), which is held in Hong Kong. It is known as "an important milestone not only to Hualing Group, but also to other Chinese private enterprises and even all non-financial enterprises".
In 2013, Hualing Group increased its capital and held 92.98% of the bank's equity. After then the bank quickly enhanced its competitiveness and expanded the credit scale and quota. Basisbank achieved substantial scale growth, more diversified customer sources, expanded business scope and improved profitability. The share of the local market has been expanded by more than 5%,and its ranking has risen from 12th before the acquisition to 8th in the Georgian banking industry.
Since Hualing Group performed as a 100% shareholder of Basisbank in end of 2014, the business scope of the bank was expanded, the number of branch was increased to 22, the total assets had a 6 fold increase, and the net profit had a 15 fold increase. As of June 30, 2017, the business scope and profitability have increased significantly. The ranking of the banking industry in Georgia has risen to the sixth place, and the operating income ranks fifth.