Foreign capital share in Georgian banking sector’s capital hits 81 percent

Business Materials 29 January 2011 11:27 (UTC +04:00)

Georgia, Tbilisi, Jan.29 / Trend, N.Kirtskhalia /

As of Jan. 1, 2011, the banking sector in Georgia is represented by 19 commercial banks, including 14 foreign-controlled banks and two branches of non-resident banks.

Compared to the previous month, total assets of Georgian commercial banks (in current prices) increased by 419.1 million lari (by 4.1 percent) and constituted 10564.2 million lari. The banking sector's own funds (equity capital) equal to 1787.6 million lari, which makes up 16.9 percent of commercial banks' total assets.

The share of foreign capital in banks' total capital equals to 80.7 percent.

The banking sector finished 2010 with profit. Net profit year-to-date constituted 156.3 million lari.

The share of five banks having the largest assets within the total amount of the banking sector assets increased by 1.0 percentage points compared to the previous month and constituted 78.1 percent.