HSBC said that the value of the gross assets to be sold was $4.5m at 23 November 2011.
The sale is expected to be completed during December 2011.
In September 2011, HSBC said it would close the business following a strategic review.
Bank Republic develops the corporate, retail and other financial services and offers the universal banking services to its customers and employs over 1000 staff members and serves its clients through 37 outlets.
HSBC Bank Georgia, which opened its doors for business in Tbilisi in June 2008, is a locally-licensed joint venture between the HSBC Holdings – which has 70% ownership – and members of overseas businesses who hold 30%.
